With that in mind, why waste time trying to figure out the cost of mining bitcoin when all the variables you need to place in the equation are missing, guessing won't take you anywhere,
The annoying problem with this kind of "study" is that they lead to a second "expert" opinion on price.
You would be amazed how many times I've seen people saying that since the average cost to mine a BTC is 30 000 there is no way in hell Bitcoin could go below this price, since, I don't know, we will break some rule of the universe if we do so.
Quote
Honestly, it will be near impossible to know the exact cost of mining bitcoin using just the public information you find on Google, nobody knows exactly how much it costs someone else to mine a bitcoin, simply because, you don't know how much they pay for power, bribe, maintenance and all that, even the simplest part of the equation which is the $/kWh is not easy to figure out/quote]
Quoting this just for the underlined part, yeah;D, love the nice touch you need there.
I think the only real price quote we can get is for individuals, or for public traded companies, they have to fill expenses and revenue, so if they say we have paid x and we have mined y bitcoins we could approximate, but even so, we don't know if they had the same hashrate all the time, if the power cost were the same, we don't know a lot of stuff. So if it makes a subject to discuss when you're bored or you think that crunching numbers over and over, yeah it's a nice time killer but I don't think anything will come out of it. And even if we knew it....
Well, don't look at me, we're running low on gas even in our gas pipes around here
so probably I'll be one of the last people seeing one around here.
Quoting this just for the underlined part, yeah;D, love the nice touch you need there.
I think the only real price quote we can get is for individuals, or for public traded companies, they have to fill expenses and revenue, so if they say we have paid x and we have mined y bitcoins we could approximate, but even so, we don't know if they had the same hashrate all the time, if the power cost were the same, we don't know a lot of stuff. So if it makes a subject to discuss when you're bored or you think that crunching numbers over and over, yeah it's a nice time killer but I don't think anything will come out of it. And even if we knew it....
They really are quite intensive mfs, but I've never seen them in use anywhere else, and from the responses on the thread, yeah I guess most of the world won't recognise them. I'd say they're fairly new tech, but I'm far from being an expert
Well, don't look at me, we're running low on gas even in our gas pipes around here
so probably I'll be one of the last people seeing one around here.