⭐ Merited by mikeywith (2)
This whole study is bullshit,
This!
Every single time I hear about the cost of mining a BTC I go from a peaceful panda to an angry grizzly wanting to reap some new ventilation holes in some fine part of the author's body.
I understand why they had these numbers incorrect, most people who write such content are lazy, and they still get paid for writing nonsense like that.
Grab the average electricity price from a chart online, fill the first table in excel, grab the specs of a miner, fill the second row, and wow, you have numbers on how expensive mining a bitcoin is! Majic!!!
Hope this image is sized right (32 inch screen at work) :
I don't know the prices of other countries mentioned in the study, but I am sure that most will be incorrect, so it's safe to assume that this whole thing is just b.s.
Those are numbers for March, half of the world would be mining at a loss, now and if I get the numbers right I'm mining now at about $55k per coin.
Much revenue, such profits, wow bankruptcy!
Also, I think this is the cost of grid electricity. I know in my part of the world, for example, some miners want to experiment with natural gas generators. Far, far cheaper, no one would plug into the grid!
Are those natural gas generators actually safe to operate with the amount of power being drawn, without being a fire hazard?[that is assuming that you've found a dry place outside to host it, as it is not safe to run a generator indoors, from what I have read.]
Some think of them as those individual generators that you have in your house for backup solutions when the grid is down.
Those real gas powered generators are indeed damn reliable, our largest logistic center was finished before an underground line that need to go under a river was finished by the electric company, so two monsters systems each with 3MW supplied the power for about 3 months, 24/7 with not a single failure.
But god, the noise and the heat, you couldn't hear trucks rushing in and out of the gates when you were standing near them.