Quote from: twiifm on September 05, 2014, 05:43:45 PM

Quote from: exocytosis on September 05, 2014, 05:25:05 PM

Quote from: MichaelBliss on September 05, 2014, 04:05:30 PM

Quote from: nuff on September 02, 2014, 06:14:46 PM

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).

Quote

I think your logic is the wrong way round.
If something costs more to produce than its worth doesnt mean its a good idea to buy the product, just thats it a bad idea to produce it.

Most of the people here never had a business so they don't get it

The miners are already operating on razor thin margins if COGS is $550 and they are willing to sell for $600. If price drops to $500 then the liability of their inventory will become unbearable at some point. They would be insolvent & have no choice but to stop mining

Good thing I had several business and aren't one of those "most people" you're referring to. The point was that the "price" being below cost of production makes it a little less likely that miners would sell at these prices. I agree, something has got to give, either the exchange rate or the miners (i.e. network). I'm betting it's the low price that will give, as it has the last 4 times we were in a similar situation.