Quote from: redsn0w on March 21, 2015, 05:11:16 PM

Not necessarily, if the bitcoin price will raise until reach something like that 10k dollars the mining will stay *competitive* but no one know what will really happen (because no one knows the future).

That's true I never looked at it that way you have a point there. The only thing is if the price reaches $10,000/Bitcoin That would mean:
0.1=$1,000
0.01=$100
0.001=$10
0.0001=$1

Who's to say that bitcoiners as a whole decide they don't want to pay $1 every time they send a tx considering the fact that many tx are <$10 this would mean they would be paying 10%+ to send that transaction. So the standard tx fee is lowered to 0.00001 or even 0.000001 $0.10 and $0.01 respectively. This would mean a normal block with ~800 transaction wold only be worth up to $80 and as low as $8. this most certainly wouldn't be worth it to mine with todays hardware. Which I know we are a long way away from this happening but still I can't seem to fathom any bitcoin mining equipment able to operate and POI with those numbers and paying for electricity

Quote from: redsn0w on March 21, 2015, 05:11:16 PM

Actually if you don't have free electricity the mining of bitcoin is *crazy*. The unique two problems are the cost of electricity (as I said) and the cost of the hardware machine itself.

Not necessarily. I run a small to medium size farm in which I am constantly selling and buying mining equipment to make the most out of my 100 amps that I have dedicated to it.
I spend $0.10/KWH with my s5's I'm averaging 1100+ GH/s at ~600 watts (I like to do all of my figures on the low end to leave me extra profit instead of unexpected losses)

I'm getting about 0.013 BTC/Day so about 3.38 USD/Day I paid ~$350 and it cost me 1.44/day in electricity to run each one. SO on average I make $2 a day with each s5 so 175 day ROI and I have never bought a piece of equipment that didn't ROI before I sold it. I also never buy pre orders and that may have something to do with it but still.

If you can get cheaper or even free electricity you are in the right boat that. That would almost halve your ROI time. Also, when I'm mining I ONLY CASH OUT ENOUGH TO COVER MY POWER BILL. Allowing me to keep the rest of the coins in a secure offline cold storage wallet. So hopefully one day when the price hits say 10k I will be able to say "technically I ROI's in < 1 week