Post
Topic
Board Speculation
Re: It'll be insanity not to buy bitcoin at sub $500
by
razorramon
on 02/09/2014, 20:28:53 UTC
Actual production cost of one single bicoin is aroundt $530-$550.

In 2011 bitcoins cost more to produce than you could sell them for.

http://www.theguardian.com/technology/2011/oct/18/bitcoin-value-crash-cryptocurrency

but back then no one was mining bitcoins with special hardware...you had the mining program "running on the side"...that's also the reason why there are so many lost bitcoins....a lot of people tried it out and deleted it because it was not worth it  (me included in 2010 or so)