will the cost of mining affect the bitcoin price ?

[BurtW]

Cost of mining is now close to 600$.

You must not be very good at mining then.

I don't mine but I have buddies who do.  If your cost of mining is $600/BTC you might as well hang it up now because other, much smarter, people have figured out ways to mine at a much lower cost of production than you.

You are really losing $100 per bitcoin you mine?  That is like beating your head against a wall.  Stop that.

[wasserman99]

Cost of mining is now close to 600$.

You must not be very good at mining then.

I don't mine but I have buddies who do.  If your cost of mining is $600/BTC you might as well hang it up now because other, much smarter, people have figured out ways to mine at a much lower cost of production than you.

You are really losing $100 per bitcoin you mine?  That is like beating your head against a wall.  Stop that.

Anyone that has a cost of mining above what they can sell their bitcoin for will obviously not continue to mine (at least any rational person). There are some less efficient miners out there that will cost more on a per BTC basis to mine then the newer more efficient ones.

[itsAj]

I think miners have generally gotten smart enough to not create so much demand that companies can sell out 6 month pre-orders in a single hour.

There are still far too many stupid miners. People are actually taking delivery of overpriced BFL hardware as we speak even though they are being offered a far more profitable refund option. Other people are dumping money into every Ponzi "cloud mining" website that pops up.

It is the new bitcoin users who put money into "cloud mining" and pump and dump coin. The community never seem to run out of fools.

I agree. Both will typically end up costing the "investor" money in the long run. The cloud mining companies give out unrealistic expectations as to how much difficulty will increase in the future, giving investors rose return expectations. All of the altcoins are....just shit and will eventually crash and burn.