Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It
if AM keeps dumping those BTC at that rate, we will see $50 and then probably $25 sooner or later.
Please link me to your source.
I really would like to see this information and I am going to assume for now you did not just pull it out of your ass.
Thank you.
You are correct, my wording was a bit off, so let me rephrase that:
.. if people with ASIC miners keep dumping those BTC at that rate, we will see $50 and then probably $25 sooner or later.
You really think they hold on to the coin they mine? Why? It's money for nothing. Fiat in the bank
while BTC has lost close to 30% in a week. So, how much it cost to mine 1 BTC if you are the ASIC chip/equipment manufacturer like AM is?
By my calculations, USD 0.507 in electricity costs per btc mined.
The assumptions:
Power efficiency: 8.3 J/GH (ref: https://bitcointalk.org/index.php?topic=204030.0)
Electricity cost: USD 0.06 per kWh (was mentioned by someone earlier in this thread, cannot find official confirmation)
Current hashes to win: 91635939047418116 (ref: http://blockexplorer.com/q/hashestowin)
Current Bitcoin reward per block: 25 (http://blockexplorer.com/q/bcperblock)
So it will remain profitable (i.e. value of mined BTC exceeds electricity costs) until network hash rate is more than 100x today's hash rate at current prices.
fuck...