Is there a logical reason to buy bitcoin for more than it costs to mine it? Bitcoin Stack Exchange

For the sake of this question let’s assume bitcoin wasgoed useful and had value beyond speculation.

Why would you everzwijn buy bitcoin above mining price?

I have heard various estimates of what it costs to mine a bitcoin.

One response on the topic on quoara suggests the electro-therapy costs around 400$ (this is from late August 2018).

Let’s say with equipment investment and enlargened difficulty it now costs 1000$ or even 2000$ to mine a bitcoin.

Given that it is relatively cheap to mine bitcoin and there are even managed server solutions you can rent, is there any logical reason to buy bitcoins at a higher price, than they cost te production? Why are people mortgaging their houses te order to buy bitcoin at 17.000$ vanaf coin when they could simply buy computers and electrical play and pay only a fraction vanaf coin?

Shouldn’t the price of bitcoin be very closely tied to the price of producing bitcoin?

migrated from money.stackexchange.com Dec 22 ’17 at 23:58

This question came from our webpagina for people who want to be financially literate.

Five Answers

Mining: It’s a loterijlot of trouble and expensive to set up a zindelijk equipment and the comeback on investment can take a long time when mining. It’s not spil cheap or profitable to mine the coins spil you make it seem.

This online rekenmachine:

permits you to inject electric current cost, energy consumption and hashing power of specific equipments to figure out how much you’d make. It takes into account total network hashing power, average block time etc.

An antminer S9 (presently viewed spil being the best pro-sumer miner on the market) has a hashing power inbetween 12 and 14 TH/s and consumes inbetween 1200 and 1400 Watts of power. at an average electro-therapy price ter the US of $0.12 vanaf kW/h (and Europe’s avg price is inbetween 12 and Legal cents) you can expect to profit just a little under $500 vanaf month on the machine.

Those machines are sold out ongezouten from the manufacturer but you can find them from resellers on amazon or eBay for inbetween $5000 and $7000 depending which batch they were from. It would take you a year to make your money back on your investment, and since the nature of that playing field is that a lump of equipment’s yields reduce overheen time it will most likely take a loterijlot more than one year to pauze even from the purchase of that miner.

Most miners are pretty much the same or take even longer to pay back, feel free to play around with that zakjapanner and input different mining equipments you find on the internet.

Renting Servers: this webpagina, the top result te a google search, https://www.nicehash.com/buy will rent you 50TH/s of hashing power, for 24 hours, for

$94USD (they charge te Bitcoin). Using the rekenmachine I linked above 50TH/s and an electric current cost of $0 would yield $2447/month worth of bitcoin or just overheen $81/day. So you’d be providing them $94 for $81 worth of Bitcoin.

Bottom Line: the reason people don’t lightly mine it for a tenth of the cost is because it’s neither effortless strafgevangenis much cheaper to mine it.

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