Actual production cost of one single bicoin is aroundt $530-$550. Any price below $500 is a steal. Buy now or regret years later. With difficulty ever increasing miners are getting screwed now cause anyone mining now is running at a loss.
Exactly. I don't think the day trading speculators have any clue what the cost of production is (they seem to consider lines on a chart and various other less important factors first).
How can the cost of production be calculated, it's a nice indicator to know the mid term value of bitcoins.