⛏️ Bitcoin - What Is The Cost Of Mining?
In this video Alex explains bitcoin mining,the costs involved and whether it puts a floor in the price of bitcoin and other cryptocurrencies.
Source - Nuggets News (YT channel)
For more of Alex's work click here @nuggetsnews
This will be interesting, the mining cost of BTC is usually a good price indicator and base (support level). So for example the price to mine one BTC in say 3 months time, would probably be around the current support.
He mentions in the video how the cost of mining varies between $500 in Venezuela and $26,000 in south Korea! Big difference there..
Cool, yes i think they have free/cheap lecky in Venezuela, but you still need to buy a mining device (s) and that costs a few quid. You need to factor that in as well.
Good content 👍 you summarized that very well, in the end it´s all about the costs or better to say keeping the power costs as low as possible to gain good profit with mining.
Those new devices you have shown in the video are looking that great but it costs a lot of energy to keep them running...
As the founder of a mining farm in Siberia it´s pretty hard to find the right balance between all those key factors, how to go green, being efficient...we are happy with our s9 miners as they are profitable and are running stable as the past has shown, you never know with the new released ones❕
I think I'd be an easy target for robbers in Venezuela because you need a wheelbarrow full of money to buy groceries there.😆
Yes, it's sad what's happening out there. I seen a meme shitpost a few days ago, it showed some toilet roll next to the cash pile to pay for it, the notes were bigger than the toilet paper. That means it's cheaper to wipe your ass with the currency. Sad, if that's true I would be running to the border crossing.
You got a 20.08% upvote from @brupvoter courtesy of @conformity!
Great post!
Thanks for tasting the eden!
You got a 46.26% upvote from @dailyupvotes courtesy of @conformity!
You got a 21.85% upvote from @oceanwhale With 35+ Bonus Upvotes courtesy of @conformity! Earn 100% earning payout by delegating SP to @oceanwhale. Visit www.OceanWhaleBot.com for details!
BOING! You got a 48.94% upvote from @boinger courtesy of @conformity!
Earn daily payouts by delegating to Boinger! We pay out 100% of STEEM/SBD!
You got a 47.21% upvote from @minnowvotes courtesy of @conformity!
You received a 16.57% upvote from @brotherhood thanks to @conformity!,
join on @brotherhood community on discord channel:https://discord.gg/3HZdaGk and share your post there.