Post
Topic
Board Economics
Questionnaire for Miners: What's the value of a bitcoin?
by
Marxian
on 10/06/2011, 13:06:13 UTC
To assess the value of a bitcoin according to Marxian economics I ask miners to answer a few questions. We all may find out from the answers how the price of a bitcoin relates to its value. I also hope to convince some of those followers of vulgar economy (as Marx called it) that their contradicting theories of value are wrong. It's important that only miners answer. I regard as a miner a person who has at least some graphic cards running 24/7 to mine bitcoins and who has been mining for at least 6 months. My questions:

1. What did your mining hardware which you are currently using cost?
2. How much did you pay last month for electricity only for mining bitcoins?
3. How many bitcoins did you mine last month?
4. After what period of usage did you replace your mining hardware or, if you have not, when do you intend to replace it?
5. How much did you pay as wages last month? (If you work alone: How much of your income from bitcoins did you keep for yourself, how much did you invest in your mining business or save to invest it?)
6. How much did you pay last month for rent? (the rent for the rooms where your mining hardware is located)

Thank you for your participation. Soon we'll see clearly what the real value of a bitcoin is.