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Author Topic: Metric for base BTC value  (Read 947 times)
jubalix
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June 02, 2013, 10:25:47 AM
 #1

the cost to rent the computing power, of the entire BTC network to for the time to produce 25 BTC, may give a base value of BTC

(must include power, computers, floor space, miners time cost, misc, any programing, maintenance, internet connection cost, etc)



val (time) = cost for time to rent entire network to produce current BTC block reward.

any ideas how to put this into figures?

dustcoin comes close, but does not really include miners time, internet connection, floor space etc.

Admitted Practicing Lawyer::BTC/Crypto Specialist. B.Engineering/B.Laws

https://www.binance.com/?ref=10062065
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June 02, 2013, 04:42:32 PM
 #2

I think that if you are able to redeem power, computers, floor space, miners time cost, and etc used in the process of mining using BTC than those factors are needed to calculated a base value for BTC.

Once power is spent it can't be redeemed, therefore those factors are not important in the calculation of the base value of a bitcoin.

For example if you spent $100 to mine 1BTC its value is not necessarily $100.

Personally i think that the base value of a BTC is 0.
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June 03, 2013, 04:53:44 AM
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The only read driver is the market, just divide the total dollars bid depth (USD) by the total ask depth (BTC) on Mt. Gox and you will have the price practically to a tee.


This graph is all you need

http://www.bitcoinx.com/charts1/depth_mtgox.png

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June 05, 2013, 09:49:39 AM
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It depends on how many people are mining the coin. If there is only a couple of people mining coins with CPU, it still generate 3600 coins per day

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