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Bitcoin

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 Eli Weiss, System Developer at Sole Proprietor

 Wednesday, December 6, 2017

Can someone indicate what is the cost to mine Bitcoin? Does the cost go higher as more coins were mined?


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1 comments on article "Bitcoin"

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 Avi Messica, Owner at Private Business

 Wednesday, December 27, 2017



It is very expensive. Currently to generate a meager net $4/day (i.e. at BTC/$ = 16,400) you need a computer equipped with an ASIC (forget GPUs) capable of 1Tera Hashrate/second. This is huge in comparison to what the average quant might be using but that's nothing for BC mining.

1 Tera Hashrate/second costs ~ $400 so you might think that's a 100 days ROI but it isn't because the average time to find one block using such power ~ 200 years.

To cut a long story short, this game is not for individuals. If you really want to do it you'll have to buy very expensive HW and join a group of miners who pool their HW resources together and share the BCs they succeed to mine.

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