Quote from: ANTIcentralized on October 31, 2014, 06:47:05 AM

Quote from: odolvlobo on October 31, 2014, 05:59:37 AM

Quote from: tobeaj2mer01 on October 31, 2014, 03:10:53 AM

What's the average cost to mine a coin now, kindly tell me, guys.

On average it costs around 1 BTC to mine a bitcoin -- less for some, more for others.

It should never cost more then 1 BTC for someone to mine 1 BTC. If it does then the miner is essentially giving away money to the electric company. This miner would be better off buying bitcoin on an exchange if they wanted to acquire additional bitcoin

What is the profit of folding@home, mersenne prime number search, or other distributed computing projects that people participate in? Even if merely donating your computing, you are supporting Bitcoin's transaction processing and defending the network against attack in a way that just buying Bitcoin does not.

Regarding profit, there is a certain "turn off the miner you already bought" point. This has already happened for CPUs, GPUs, FPGAs and a lot of ASIC miners. It doesn't make sense to pay the power company for BTC when you could just buy them for less. Some miners have contracts or operations with "free" electricity that allow them to operate older equipment, and still others continue to operate their equipment even after they are past break-even.

Bitcoin miners turn electricity into heat, so if you were running a space heater under your desk to keep your feet warm, you might as well have a miner plugged in instead to make heat + Bitcoins.