It only costs 100$ in electricity to mine a bitcoin???

[BlindMayorBitcorn]

https://bitcointalk.org/index.php?topic=178336.msg9920970;topicseen#msg9920970

What about the thousands of slackers plugged into their parents basements?? Why are we still above 300$??

 

[1715123865]

1715123865

[Blavatsky]

anyone can come here and claim any mining price.

For me it costs only $5/Bitcoin

[bornil267645]

In that price, the net value is way too low, so for the sake of mining, the price needs to rise up.

[bitcon]

how much electricity to mint a peercoin? 

[r0ach]

I spent a lot of time doing the mining cost calculations just a week ago and the price of Bitcoin right now is around cost of production or lower for the average consumer with $10,000 or less to spend with average energy costs.  The ratio for energy costs compared to hardware costs is rising fast over time.  This means profits for hardware makers should be steadily decreasing as electricity becomes the main factor.  When I did the math a week ago, I'm pretty sure the electricty cost per coin was a lot higher than $100.

[asdlolciterquit]

https://bitcointalk.org/index.php?topic=178336.msg9920970;topicseen#msg9920970

What about the thousands of slackers plugged into their parents basements?? Why are we still above 300$??

 

i don't remenber where, but i've read an article that say the price in electricity is more or less 170$/btc...

anyways we are still above 300$ becouse people are greedy

[ndnh]

anyone can come here and claim any mining price.

For me it costs only $5/Bitcoin

Does it cost that much?

I mine it for free.  

[Q7]

The reality is that electricity is just one of the overhead cost. You haven't taken into account hardware depreciation or even breakdown including losses due to failure. With the current difficulty increasing, miners have no choice but to upgrade their hardware to maintain their operation and ensure that they continue to stay in business. And people eat too. Miners that maintain the hardware has to eat even if what they do is merely taking care of the machine. If the miner don't get at least $50 bucks a day, they might as well work on other jobs which pays even more. These are all the factors that need to take into consideration not just electricity

[ElectricMucus]

$113 electricity if you have a Cointerra Miner and pay $0.1 per kw/h.
On the other hand it takes three years to recuperate the hardware costs at current prices & hashrate. And this might never happen.

And, for instance I pay €0.2 per kw/h, which amounts to $0.24 and would leave me with 13 years to recuperate. (Again assuming prices and difficulty stays the same!)

[Neotox]

what about other investment
like hardware cost?
its not only about electricity cost
if it was that easy and profitable then everyone was mining bitcoins

[Amph]

anyone can come here and claim any mining price.

For me it costs only $5/Bitcoin

someone is mining with free electricity, using the old trick of magnet

[JimboToronto]

My mining hardware paid for itself long ago and I pay for my own electric heat.

Mining in the winter heating season is therefore free for me, although the returns are miniscule.

It's like casting a single ballot against a sea of lobbyists. It's more about a sense of participation than making any significant difference.

[FatherBob]

My mining hardware paid for itself long ago and I pay for my own electric heat.

Mining in the winter heating season is therefore free for me, although the returns are miniscule.

It's like casting a single ballot against a sea of lobbyists. It's more about a sense of participation than making any significant difference.

1. Sell coin.
2. Throw away useless noisy gear.
3. Install oil/gas furnace.
4. Save money & live like a reasonable human being.

And pray for wisdom, my child!

  ~Rev FatherBob

[JimboToronto]

My mining hardware paid for itself long ago and I pay for my own electric heat.

Mining in the winter heating season is therefore free for me, although the returns are miniscule.

It's like casting a single ballot against a sea of lobbyists. It's more about a sense of participation than making any significant difference.

1. Sell coin.
2. Throw away useless noisy gear.
3. Install oil/gas furnace.
4. Save money & live like a reasonable human being.

And pray for wisdom, my child!

1. I don't sell coins. I spend or hoard them.
2. I kinda like the sound of the fan revving up. It also serves as a conversation piece.
3. Oil? Gas? LOL Where do you live? I live downtown. I do however have a wood stove in my country place.
4 I already save money and live the life of Riley.

Also, please don't take the name of Bob in vain. You may be a minister, but I'm a pope. You're outranked.

[valvalis]

anyone can come here and claim any mining price.

For me it costs only $5/Bitcoin

oh really?
Then, I want to buy BTC50 from you.

[FatherBob]

...
3. Oil? Gas? LOL Where do you live? I live downtown. I do however have a wood stove in my country place.
...

Manhattan, NYC.  Oil heat & hot water, as is the case with most of NYC.  Which God-forsaken wilderness do you hail from, my child?

  ~Rev. FatherBob.

[Kluge]

Those god-damned oil furnaces are STILL legal in NYC?! You may's well just get a barbecue oven, go collect as much plastic trash as you can find, and light it on fire in your house. You could pay off the mining hardware (mining revenues excluded) within a couple years if you switched from oil to electric mining. Mind successfully fucked, though.

[JimboToronto]

...
3. Oil? Gas? LOL Where do you live? I live downtown. I do however have a wood stove in my country place.
...

Manhattan, NYC.  Oil heat & hot water, as is the case with most of NYC.  

Oil burning on 5th Ave.? Tanker trucks at the Empire State Building?

Wow, just wow. Do you use kerosene lamps too?

I guess we're just a bunch of luddites here in Toronto, stuck in the past with our hydroelectric and thermonuclear power.

Everything's up-to-date in Kansas New York City. They've gone about as far as they can go.

[FatherBob]

...
3. Oil? Gas? LOL Where do you live? I live downtown. I do however have a wood stove in my country place.
...

Manhattan, NYC.  Oil heat & hot water, as is the case with most of NYC.  

Oil burning on 5th Ave.? Tanker trucks at the Empire State Building?
...

The Empire State building is heated with low-pressure steam, provided by ConEd steam generator plants:
"The New York City steam system is a district heating system which takes steam produced by steam generating stations and carries it under the streets of Manhattan to heat, cool, or supply power to high rise buildings and businesses."

The things a civilized city has under its streets:


What ConEd uses to generate steam:


The moar you know, my child, the moar you know

  ~Rev. FatherBob.

[FatherBob]

Those god-damned oil furnaces are STILL legal in NYC?! You may's well just get a barbecue oven, go collect as much plastic trash as you can find, and light it on fire in your house. You could pay off the mining hardware (mining revenues excluded) within a couple years if you switched from oil to electric mining. Mind successfully fucked, though.

No wonder you stay poor and bitch about taxes, my children.  You sodomites heat your houses by buying thousands of dollars' worth of ASIC gear!  Why don't you just get a little potbelly stove & burn money in it?  That works about as well

Stay toasty, heathen!

  ~Rev. FatherBob