F
Frylock
History doesn't repeat but it often rhymes. 
Bitcoin Talk
- Thread starter englishrick
- Start date
St. Phatty
Active member
For you folks that are into Bitcoin -
How much does the Cost of Production, of Bitcoin, affect the price ?
Obviously related to electricity rates, & the amortized cost of all that mining hardware & software.
How much does the Cost of Production, of Bitcoin, affect the price ?
Obviously related to electricity rates, & the amortized cost of all that mining hardware & software.
i m not saying its repeating, but its definetly alive and this time its much more diffrent, a lot more people know about cryptos yet, a lot more smartwallets easier buying methods more daily applications, other options... the ICE's, Bakkt, fidelity, financial sector attention more more more, and so on WTF this can really get nuts this time i think.
brexit, trump/china, venezuela, trading wars, unsecurity in fiat, all that stuff drives btc further.
time will tell
brexit, trump/china, venezuela, trading wars, unsecurity in fiat, all that stuff drives btc further.
time will tell
F
Frylock
I *think* that somehow it is cheaper to produce when the price is lower, or the reward goes up?
Some kind of fail safe coded into it to prevent stress on the network if there is a severe change in mining power.
I'm sure someone can answer better than me, but i think it's something like that....
sorry m8 its not possible to answer that exactly. do you mean if youre mining?
mining is lost, forget it this was at the start, now its just trading.
just read some articles online.
Chappi
Well-known member
F
Frylock
5000 BTC = profit for miners
Less than 5000 BTC = loss for miners.
You’re welcome.
How was mining profitable before 2017 then?
F
Frylock
This might answer some questions,
https://medium.com/coinshares/an-ho...-bitcoin-mining-network-dynamics-f820d6218bdf
https://medium.com/coinshares/an-ho...-bitcoin-mining-network-dynamics-f820d6218bdf
Chappi
Well-known member
The complexity of the algorithm was lower thus easier to compute. Bruh you’re starting to get on my nerves.
F
Frylock
Well, take a chill pill 
I just found some of your posts hmmmm.... idk, objectionable?
But i'm not trying to stir up emotions.
Your answer to St. Phatty may have been correct-ish for right now but it is always changing was my point.... i just didn't really know how the cost vs price was achieved, (well, i had heard it before but it went in one ear and out the other) which it seemed he was asking.
Not a simple 'what is profitable now' question....
I just found some of your posts hmmmm.... idk, objectionable?
But i'm not trying to stir up emotions.
Your answer to St. Phatty may have been correct-ish for right now but it is always changing was my point.... i just didn't really know how the cost vs price was achieved, (well, i had heard it before but it went in one ear and out the other) which it seemed he was asking.
Not a simple 'what is profitable now' question....
paradoxlost
Member
The wallet of satoshi nakamoto ahs like 100 million btc in it. Allegedly. They're not giving bitcoin away when it is mined. Bitcoin gets created when they are mined. Each coin has the block ledger for the past 10 minutes. And the blockchain is the record of all bitcoin transactions, aka every ledger. This is stored in wallets. So yea, he's worth a fuck ton of money. But its only worth anything is if it sits. Like he can't sell all 100 million.
Douglas.Curtis
Autistic Diplomat in Training
The same thing everyone gets from the algorithms being solved. They get uniquely encrypted assets which cannot be double-spent, counterfeited or stolen ( stolen without your help anyway).
They do not get 'paid' anything by the network directly, they only gain as the price of bitcoin rises.
St. Phatty
Active member
What's next after Bitcoin ?
I still think a Titty Coin has possibilities.
Encryption and Breasts, what could possibly go wrong ?
I still think a Titty Coin has possibilities.
Encryption and Breasts, what could possibly go wrong ?
F
Frylock
Douglas.Curtis
Autistic Diplomat in Training
Yes, exactly.
No, not in the slightest. The first encryption was started with a seed number which only satoshi knows, or if they're smart they destroyed it. Each successive coin is started using part of the previous coin as it's seed.
I'm not sure, but I believe it's like a sweater in some respects. Once you find the original seed number, you should be able to unravel the entire blockchain.
Go quantum computing. 
