Quote from: Bitcoin BEAR on March 22, 2014, 04:06:41 AM

Quote from: seriouscoin on March 22, 2014, 03:03:28 AM

Do the dumbfcks know how much it cost to mine btc?

If what they said is true, btc would never have any value and the price is 0 isnt it?

Here are some facts for those dumbfcks.

Buying a mining gear at current exchange rate, you will have very little chance of BREAK EVEN

Go check in mining section, price the current mining gear in BTC and calculate with conservative difficulty increasing rate and see for yourself.

If you're lucky and break even, your mining gear will use more in electricity than the cost of btc very soon after.

Remember all these didnt account the time and effort you have to spend to operate the mining operation.

What does this tell you? If you want to get some btc, the best way is to buy btc and spend your time doing something more profitable.

I'm just sick of the stupid "create btc out of thin air" argument.

Chao.

Sounds like a terrible business plan!
A mining rig should not pay itself off in weeks or even months. No business would ever expect to pay off the "tools of the trade" in such a short time frame. So why should Bitcoin mining be any different?

Quote from: Biodom on March 22, 2014, 03:36:01 AM

A perfect message to Winkelvii and Silbert. Miners should form a real guild and stop dumping all coins on the market.
I am not selling coins that I am mining.

Is that so yours can be worth more?
Mining with ASIC is pretty cheap as far as electricity is concerned. I don't care about the cost of the ASIC itself, you chose that path. The cost of production is very low, so BTC value (as far as the cost of production goes) is much lower than today.

FTR, I mined with GPU when the difficulty was <100k and the price was single digits, so mining was expensive back then (~$100/GH per month). It all works out in the wash as I'm sure it will for you too, but a mining guild? haha
Who gets to sell first?
Who stops someone else from selling before they're "allowed" to?
Who makes this order? and
Why should the last guy have to be last?
It sounds more like a pyramid scheme than Bitcoin to an outsider.

Thats a wrong way to look at the cost of mining BTC (or better word minting)

You cant ignore the capital cost of mining gear because its a sinking cost as the machine is depreciated so quickly.

To me, the cost of mining gear should be looked at as the cost of materials for minting BTC. as its usable lifetime is quite short. (in other words, you used it up for the short time to mine btc)

No matter how you slice it, the cost of minting btc can never just be the electrical cost.