A look at when the price of Bitcoin fell under production costs-mining Bitcoin messages
A look at when the price of Bitcoin fell under production costs-mining Bitcoin messages
In the last 30 days, Bitcoin's Hashrate has remained at the highest level that has ever been recorded during the lifespan of the network. Bitcoin's price has improved lately, but it is still 38 % below the high of the crypto asset, which makes Bitcoin mining less profitable. However, Bitcoin mining is still profitable, unlike ten years ago when the value of the leading crypto asset fell under production costs.
The price of Bitcoin is 38 % lower than its all-time high, Bitcoin miner still benefit
During Bitcoin's price, the US dollar has risen quite a bit in the past 13 years, the Hashrate of the Network at all-time high has also increased. Today, the hashates moved to over two hundred quintillions of hashes per second (h /s), which is much stronger than the hashrine of the Bitcoin network on January 5, 2009. On this day, statistics show that nine-hundred and fortune-forty-for-for-off h /s was dedicated to the safety of the protocol. Calculations show that Bitcoin's Hashrate has risen since January 5, 2009 for twenty -one percent percent - or 21,093,375,215,930 %.
The Hashrate from Bitcoin truds with a target = "_ blank" href = "https://www.coinwarz.com/mining/bitcoin/hashrate-chart" rel = "noopener"> All-time highs but the value of the crypto-assets is 38 % lower, on 10 November 2021. It is less profitable to dismantle Bitcoin ( bitcoin ), but for a decent majority of the powerful mining rigs. For example with today's Bitcoin The Bitmain Antminer S19 Pro with 110 Terahash per second (Th/S) $ 16.81 Tag produce when the machine's electricity costs are around $ 0.12 per kilowatt hour (kWh). SHA256 machines that produce at least 25 Th/S will still achieve a win today Bitcoin
mid -October 2011: The price of Bitcoin falls under production costs
Over ten years ago, on October 18, 2011, the costs for a single Bitcoin fell under the production price bitcoin (btc) . This was not the only time that this happened, but it was one of the first time that the price of Bitcoin was said to have been lower than the costs of digging the digital currency. This week in 2011, the network's hashrate was around 8,596 Th/s or 8,596,000,000,000 hashes per second. While the Hashrate was much lower than it is today, it was still a nine -hundred substance millions of percent (906,593,161.72%) higher than on January 5, 2009.
at the time when Bitcoin s made it under the production costs, made it internationally headlines. The Guardian employee Charles Arthur wrote about the incident on October 18, 2011 target = "_ blank" class = "lar-automated-link" href = "https://markets.bitcoin.com/crypto/btc" rel = "noopener"> bitcoin The price of over $ 30 per unit from Bitcoin mid-October. This year Arthur called bitcoin a "virtual currency of 'hackern' and preferred exchange." That says the report by the Guardian author Bitcoin The price of "has crashed on the exchanges-at a level at a level, at which it costs "Minen" when they are worth. "
The value of Bitcoin falls under the production costs in 2015, 2018 and 2020-according to estimates, the current production costs are $ 34,000
About a year after the 2013 course of the course bitcoin The value of almost began to fall again. In the first week of December the Hashrate of the Network decreased and the CEO of Spondoolies-Tech, Guy Corem, explains how the market value of the crypto asset had affected the miners at the time. "Under the current Bitcoin value, an efficiency of mining equipment in the range of 0.5–0.7 J/gh and energy costs we will soon achieve a balance," said Corem. The costs for my bitcoin War supposedly more than they were worth in mid-January 2015. This month in 2015 the price of Bitcoin ( bitcoin ) fell under the 200-dollar-brand.
according to report in mid-December 2018, bitcoin The price of was lower again than the production costs. Back then in 2018, bitcoin changed owners for $ 3,200 per unit. In addition, on March 12, 2020, often as " Schwarzer Thursday , ' Bitcoin The price of fluctuated and sank to the middle 3,000 dollar area, which made it unprofitable for the majority of the mining participant. Class = "LAR-Automated-Link" HREF = "https://markets.bitcoin.com/crypto/Btc" Rel = "noopener"> Bitcoin The price of 38 % is still near the current mining costs. Founder ”his 14,600 social media followers that“ the current production costs are $ 34,000 ”.
Venture Founder also mentioned that the value of the crypto assets in December 2018 and March 2020 fell into the production costs bitcoin Fallen, threatens the surrender of the miners ", venture founder " . Target = "_ Blank" Class = "LAR-Automated-Link" HREF = "https://markets.bitcoin.com/crypto/BTC" Rel = "noopener"> Bitcoin was threatened by the capitulation of the miners in May.
can the all -encompassing production costs of Bitcoin increase?
Exactly know how high the production costs are and how high the total cost of a Bitcoin miner would be extremely difficult to estimate, but there were many who believe that there is a number. The above cases describe the times and price points at which the people believed the price bitcoin under the costs for the shining of the crypto. are a perfect example of this conviction.
While a miner uses a machine with 100 Th/S and achieves a daily profit for this machine of around $ 16.81 per day, whereby the current costs $ 0.12 per kWh, another miner could pay $ 0.06 per kWh. Also a Learn the report published in October 2020 that "the costs for the Bitcoin-MINING have never really been made".
What do you think of the reported cases in which it was said that Bitcoin's price fell under the production costs? What do you think about the estimated current production costs of $ 34,000? Let us know your opinion on this topic in the comment area below.
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