It's NOT relevant what your electricity cost is or what's the US average, the only relevant factor here is what the poster's cost is. Some random guy was telling the poster:
"...or you could mine even if the price went under $7... just waiting selling off until a higher price."

So I pointed out that this does not make any sense, and gave the scenario why this doesn't make sense. Because if the poster's equilibrium is $7, then it does not make any sense for him to continue mining below $7, when he could just spend LESS money to buy at $6.5. No one cares about your electricity cost, or the average. I only care what my own cost is.

Quote from: mike678 on September 06, 2011, 07:56:12 PM

Quote from: kokojie on September 06, 2011, 07:44:04 PM

lol, yeah everybody is on 15c electricity, what a happy world. Except u r full of BS. My own electricity is 19c, and I'm in US. The poster ALREADY SAID $7 is his equilibrium point, guess what? now the price is $6.5, that means he's mining unprofitably if he's still mining, which makes my analysis completely correct. So unfortunately you are the one spewing BS.

I said the average is 15c which is true. It costs me 8.5 cents so people do live below the average. You and I are in the minority hence why I said 15. For the average American it still makes sense to mine.

Just to prove you wrong some more. Ill use the same calculations as before except switch 15 to 19c a kwh.

it requires 91 cents per day to run a 5830 at 19c per kwh
160.68/91=$176.51

You make .1867 bitcoins a day with a 5830.

(.1867*6.5)-.91=30 cents per day if you sell today