I don't think that average mining cost is 50K/btc right now.
This says that it is 63K, which seems too high.
Philip?
Sure, yesterday it was $63.3K, the day before was $44.7K. On February 18th it was even $23.5K. I was going by a general average, and the last month looks like it was around $50K give or take...
Philip will tell you that the calculation is complete nonsense, for many reason, and I won't argue over that. It's more-or-less based on price of mining with non-renewable energy (basically right now, you could mine virtually anywhere and in any way and be profitable, cost of equipment aside). So naturally those mining using renewable energy are barely effected, if at all, as there mining costs are 50-75% less I imagine, but for miners relying on non-renewable energy, they will no doubt be switching off machines post-halving (at current mining cost), as per every halving. Others will simply go out of business for good.
LMAO
Just please don't cry if you get rekt. Confusion is OK, but at least don't pretend like there were alternative theories to hitting $1 million per coin next week.