Announcement

Collapse
No announcement yet.

Bitcoin is still early

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • Originally posted by Random1 View Post
    What is the price of bitcoin you need in order to be profitable?
    you have to define profitable, and of course it depends on the cost of electricity and the efficiency of the machine

    just based on electric, coins I mine cost about $18k/btc

    Comment


    • Originally posted by jacoavlu View Post

      cheap electric rate really helps, and you have to make sure you don't overspend in btc terms on the machine. certainly don't spend more than 0.2 btc on a new gen machine and even that's pushing it

      for example a 100T machine right now earns about 45k sats per day. so a new gen machine bought at 0.2 btc would take like 15 months to ROI the btc but that doesn't account for electric cost and other capex. but that math can be done

      that sats/day number has trended down recently as network hash has increased to all time highs. but as price dumps typically network hash is gonna trend down somewhat. not guaranteed. there are a lot of miners out there that have been sold but not deployed. supply chain delays in getting electric infrastructure done no surprise

      I think my machines will end up ROIing at about 15 months and that's with electric

      and separate conversation is if you elect to run as a proper business, in which you report on schedule C and deduct expenses. a couple miners at the house likely doesn't meet threshold and would be hobby income. But certainly opportunity there to operate as a business if you scale up a little bit
      This site is handy: https://whattomine.com/asic

      Comment


      • Originally posted by xraygoggles View Post

        This site is handy: https://whattomine.com/asic
        if interested in bitcoin mining braiins has probably the best site for playing with numbers https://insights.braiins.com/en/

        Comment


        • If I Google bitcoin price, it doesn't even give results anymore...

          It just does a "Neeeeeeeeeeeeeee- Roowwwwwwwwwww- Woowww" noise?

          Comment


          • Originally posted by Max Power View Post
            If I Google bitcoin price, it doesn't even give results anymore...

            It just does a "Neeeeeeeeeeeeeee- Roowwwwwwwwwww- Woowww" noise?
            Are you trying to log on to America Online?

            Comment


            • I'm starting to buy BTC now as the price gets close to the break even point for mining it. I'm planning to buy more every 10% drop. Not sure how much BTC will drop but looking at previous crypto winter cycle, it can probably go down close to $10,000.

              Comment


              • Your luckily day, BTC is down again , go on a shopping spree

                Comment


                • Originally posted by Random1 View Post
                  Your luckily day, BTC is down again , go on a shopping spree
                  I’m sure the Dutch in the 1600s were saying the same thing about tulip bulbs.

                  Comment


                  • Celsius getting investigated. Clock is ticking on Tether. People don't care about fraud when everyone is making money.

                    Also, my issue is with Tether, not BTC or blockchain.

                    Comment


                    • Originally posted by Brains428 View Post
                      Celsius getting investigated. Clock is ticking on Tether. People don't care about fraud when everyone is making money.

                      Also, my issue is with Tether, not BTC or blockchain.
                      CordMcNally and I have a bet re tether so it will be fun to watch

                      during the terra/luna implosion tether redeemed billions in coins for actual dollars without issue.

                      Comment


                      • When this thread was created (November 5, 2020), Bitcoin was passing the $15,000 mark. Today, Bitcion has dipped below $20,000, off from it's high of nearly $70,000. Is Bitcoin still early?

                        Comment


                        • Originally posted by oysterblues View Post
                          When this thread was created (November 5, 2020), Bitcoin was passing the $15,000 mark. Today, Bitcion has dipped below $20,000, off from it's high of nearly $70,000. Is Bitcoin still early?
                          yes. It was a perfect thread title.

                          Comment


                          • www.reddit.com/r/buttcoin

                            Comment


                            • From the Wall Street Journal today:

                              "Bitcoin fell as low as $18,739.50 and stayed below $20,000 on Saturday, according to CoinDesk, losing 72% of its value from its high in November."

                              So there is a bitcoin market with active trading and public quotes 7 days per week? Are these published somewhere?
                              Erstwhile Dance Theatre of Dayton performer cum bellhop. Carried (many) bags for a lovely and gracious 59 yo Cyd Charisse. (RIP) Hosted epic company parties after Friday night rehearsals.

                              Comment


                              • I haven't read much of this thread or other crypto exchanges, so this may have been covered, but I ask in case any Bitcoin/crypto enthusiast is interested in stating the case (again?) for Bitcoin and/or other crypto assets:

                                Bitcoin provides no earnings, interest, or dividends, and does not produce anything, which is why Buffett assigns it a value of zero.

                                It is also clearly not an inflation hedge, and it's not a stock market hedge, as demonstrated this year.

                                It isn't a store of value, and it isn't suitable as a currency, because it is extremely volatile.

                                I understand it may be of some use to criminals, but that isn't much of an investment case.

                                So, what is it that makes it of great value?
                                Erstwhile Dance Theatre of Dayton performer cum bellhop. Carried (many) bags for a lovely and gracious 59 yo Cyd Charisse. (RIP) Hosted epic company parties after Friday night rehearsals.

                                Comment

                                Working...
                                X