Quote from: Apocollapse on July 12, 2024, 05:11:20 AM

Quote from: stompix on July 11, 2024, 02:30:15 PM

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I pick Bitcoin Miner T21 with specifications:

Quote

SPOT Bitcoin Miner T21

Function BTC/BCH/BSV SHA256 Air-cooling Miner
Specifications 190T 3610W 19.0J/T

When I calculate the profit on viabtc, 190 TH/s generate 0.0001539 BTC or $8.78
Then I use electricity calculator, average of electricity cost in US is 16 cent per 1kWh. With power consumption 3160 watts (W) and 24 hours use per day.
I got electricity cost per day $13.8624
I didn't even include the maintenance cost, cooler, fan etc, but it means mining no longer profitable isn't?

Hihihi, 16 cents per kwh?
16 cents per kWh was a deal breaker 3 years ago, nobody under 8 cents is actively mining, the sweet spot for making money is around 4 cents after taxes. Phil has done a lot of calculations in the difficulty thread, but it essentially boils to this:

One TH/s of medium efficient gear will burn around half a kilowatt and earn 4.5 cents a day.
You're at 9 cents you might lose money, you're at 6-8 you might never ROI, you pay 2 cents you drink wine waiting for everyone else to go bankrupt.

Quote from: Wind_FURY on July 12, 2024, 07:20:10 AM

But actually, $1,000 fee is an exaggeration, no one would pay that high to have their transaction first in queue. Plus purchases in the blockchain that would pay high fees will not be financial transactions to pay for a $20.00 pizza.

Of course not $1000, but you have on average 500k tx that need to generate 30 mils a day, so $60. Would you ay twice the pizza for a pizza?
More importantly, are you going to pay $60 to open a LN and $60 to close a LN?
You and me, maybe!
Average Joe and 1 million others, no!

Quote from: Wind_FURY on July 12, 2024, 07:20:10 AM

We already saw users pay more than $50.00 per transaction for their Ordinals dick pics and fart sounds, and their Runes. I believe those users are the only people who will pay high transaction fees, and therefore they might play an important part in Bitcoin's future.

But, but, but...we need to ban dicks pics! Cheesy

Quote from: Wind_FURY on July 12, 2024, 07:20:10 AM

Because it would require miners to use more processing power, which will also require them to spend more capital to mine.

Doge/LTC miners love it! Wink