Post
Topic
Board Economics
Re: bitcoin mining cost
by
Adrian-x
on 04/11/2014, 21:17:32 UTC
What's the average cost to mine a coin now, kindly tell me, guys.

assuming you are running this hardware https://bitcointalk.org/index.php?topic=735982.0
assuming you dont pay cooling costs.
assuming you pay $0.07 CAD for electricity
assuming your dont have any interest or amortization costs on your hardware.
assuming you dont have any space rental or employment overhead.
amusing you mining for a shitty pool with bad luck but they pay anyway.

the average bitcoin costs $123.33 CAD to make today.

this cost changes every 2 weeks, at the moment it will become 7.5% less efficient to mine 1 coin in 5 days. that percentage is historically low - should be average around 10-15% and is expected to increase exponentially ever 2 weeks.


in 3-5 months things should get interesting as something will have to give, mining hasrate will fall or price will go up, as the cost of production = market price.


So in 13*10 = 130 days, with difficulty increase of 10% each 13 days, the cost of mining is $319 CAD. It is still lower than current price.

Yip that said amortization isn't included so one can expect mining hardware investments to slow in the near future and the hash rate to be somewhat dictated by price.

Last week I would have said cheap coins if price doesn't rise but this week I'm not too sure.