Ninjastic
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Board Economics
Re: bitcoin transactions costs in the future
by
Fredomago
on 27/05/2019, 16:19:22 UTC
Quote from: Netnox on May 27, 2019, 04:07:08 PM
Quote from: stompix on May 27, 2019, 07:33:45 AM
If Bitcoin reaches 100k tomorrow, there will be 180 million to be earned, miners would be happy to spend 150 million a day on energy to get that.

At a price of 5 cents per kwh....you're not going to like the result  Grin

A large part of the expenses incurred by the miners can be attributed to the capital costs. Setting up a mining farm can be very expensive, with all those mining rigs and air conditioners. Right now, there are only a few manufacturers that produce the mining rigs. And they don't have the spare capacity to increase the production 100x.
Which is real, the setup will already burned you as hell when you do this mining business, not everyone can afford that only those who have huge investment capital and have a good source of cheap or free electricity will manage to proceed and do this business, its a risk to take even value of
bitcoin will increase to that level.