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You think there’s a 50% gross margin on mining Bitcoin, after the price has fallen heavily, and we’ve entered a global energy crisis?
by oneoff786 4y ago
You think there’s a 50% gross margin on mining Bitcoin, after the price has fallen heavily, and we’ve entered a global energy crisis?
- loeg 4y agoGlobal energy crisis?
- thematrixturtle 4y agoChecked your electricity bill lately? https://www.bloomberg.com/news/articles/2022-03-07/electric-bills-double-for-u-s-families-with-fuel-costs-surging https://www.bloomberg.com/news/articles/2022-03-07/electric-...
- loeg 4y ago> Checked your electricity bill lately? My rates are 11-13 cents per kWh, the same as they’ve been for years. Our power is mostly hydro, with smaller amounts coming from nuclear and wind. So no, that pithy question isn't particularly useful.
- secretsatan 4y agoYeah, and that energy is infinite, so if we move all the miners to where you are that price will def stay the same
- oneoff786 4y agoMaybe your local area isn’t representative of the general global market?
- remram 4y agoThat's true of GP as well. This article is titled "... for US families".
- silentsea90 4y agoDifficulty adjustment takes care of reducing mining difficulty every 2 weeks based on hash power, so this should self correct
- SahAssar 4y agoIf the margins were that high then wouldn't it be reasonable to assume that no miners will stop mining but the margins will decrease? The miners will mine as long as it is profitable since they need to recoup the costs of specialized hardware somehow.