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Author Topic: All Miners Should Determine their 'Break Even' BTC Price  (Read 2136 times)
paraipan
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August 05, 2011, 01:34:13 AM
 #21

Dang, and I thought my 14 cents per kwh was bad...
you can say that again

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August 05, 2011, 02:55:34 AM
 #22

These people who say they'll stop mining if the price falls below a certain point are idiots.
If you prefer to mine even if you could get more bitcoins by just buying them I wonder who the idiot is...

You can do more than one thing at a time can't you?  I'm simply saying that it isn't very bright to base your long term operation on short term prices.  That isn't sustainable.

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Grinder
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August 05, 2011, 08:38:39 AM
 #23

Even if you're below the point of breaking even, you're still getting discount coins. If coins are trading for $8, and it costs you $4 per coin to mine them, you're still getting coins at 50% off their cost.
If it costs $4 to produce them and they're trading for $8 you're hardly below break even.

You can do more than one thing at a time can't you?  I'm simply saying that it isn't very bright to base your long term operation on short term prices.  That isn't sustainable.
Sure you can, but that would only make it slightly less idiotic. There is no way your long term bitcoin speculation can benefit from getting fewer bitcoins than possible in the short term.
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August 05, 2011, 12:45:37 PM
 #24

I'm going to withdraw my statement, yesterday was a long day, and it no longer makes any sense to me either.

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