Post
Topic
Board Economics
Re: Miner break even price points. Do you think this will effect the market?
by
spiral_mind
on 30/08/2013, 23:31:41 UTC
So how much does it cost to mine one Bitcoin? Assuming a 76% increase in difficulty per month, .15$/kWh, and a 2% pool fee:

So. 76% per month. Thats 88238% per year.

So in 5 years the hashrate will be ~3,765,807,437,718,645,270,000,000,000,000 hashes per second, and with the current 110MH/j miners thats a power consumption of 34,234,613,070,169,502,454,545 watts.

This is the energetic equivalent of exploding 8182 gigatonns of TNT every second.

But since the sun produces 4e26 watts, I can't see how this isn't totally feasible... we just need to build a solar array with a radius of roughly the same radius of the earth to trail us in orbit and catch light from the sun.


Obviously it's not going to keep up forever, and likely won't keep up for a whole year either. For the next half a year or so though? That certainly seems possible at least.
There's an insane amount of network power that's already been pre-ordered and just needs to go into production already. Great job wasting your time on straw man calculations though. At least mine were somewhat related to reality (that % is predicted based upon previous difficulty changes observed, I didn't just invent it to make a point like your numbers).