Interesting Crypto & Bitcoin fact !

[Ajlovez7 594]

As per reports world average cost for mining 1Bitcoin = $7275.798

After halving in 2020= World average cost will become $14551.59 per Bitcoin. But China's average cost will still be under $8000.

Fun fact as per this report it costs $3172 to mine 1bitcoin in China (Where majority of bitcoin MINING happens),which was also Bitcoin bottom of 2018.

Source- Google and crypto India telegram

[williamz902 696]

Interesting. I anticipate that the price will hover around about 13k for a while, and then probably won't fall below 10k in the future. These reports help to give us a picture of what the price might be after the halving.

[Rg123 318]

28 minutes ago, SUGI5091 said:

That is the reason for just a lot of bitcoin farms and mining companies there. Because electricity costs are cheap. That is a good choice for miners.

Very well said, other country have an fear to invest some equipment for mining its because the profit you will gain is just for bills in electricity like in my country.

[Ajlovez7 594]

9 minutes ago, ashasanga said:

That mean schina will be the country that mines bitcoin more than any other, LOL that's crazy, but what's the relationship between mining cost and the halving.

Lol , new bitcoins are generated by mining process and when bitcoin halving will finish, then miners rewards will become half and eventually due to limited supply of bitcoin demand will increase. Also difficulty level in bitcoin mining will increase a lot after the halving event, so it will result in high cost of mining bitcoin. Increaseing difficulty level will request high computing power and electricity which will cause in high cost of MINING.

Edited November 12, 2019 by Ajlovez7

[Emma 611]

4 hours ago, Luna disari said:

not for every country. many people want to mine bitcoin but they can't because of the price of electricity..in my country, one can't earn the electricity fee by mining.

You said right mate. The price of electricity is different in various country. so, people from all country can't involve in bitcoin mining because of this issue.

[Lucifer 134]

China was a pioneer in mining and I think they have already regulated and normalized the mining of bitcoin, they also have a lot of companies there like bitmain that take care of much of the mining, so it is cheaper I think.

[jyfiuhookl 10606]

This means that after halving bitcoin will never be worth less than 14 000! Half a year left! Let's go with this plan!

[Caporetto 327]

6 hours ago, rocsus said:

Real interesting facts. But there is no way to verify these prices, unless you are a miner yourself. 

here is a chart just for fun sake.

This is old image, but i agree that chinese miners controll BTC price, and think logical : who has the most BTC in the world? its THEM, they most likely create a bottom where they are breakeven with mining price, nobody has enough BTC to sell to break that.

[bentayebsalah 2280]

China always offers the best prices because the brand is cheap and has a large population, which makes it able to employ a lot and keep prices and this is what makes many miners go to China and mining

[Keith700 1885]

On 11/12/2019 at 3:53 AM, Ajlovez7 said:

As per reports world average cost for mining 1Bitcoin = $7275.798

After halving in 2020= World average cost will become $14551.59 per Bitcoin. But China's average cost will still be under $8000.

Fun fact as per this report it costs $3172 to mine 1bitcoin in China (Where majority of bitcoin MINING happens),which was also Bitcoin bottom of 2018.

Source- Google and crypto India telegram

Very relevant data maybe already all this configuration of which you are talking about already came in the general rule of bitcoin, halving will be a very important event for the cryptocurrency genesis and it is there where things can mark a different course, there are curious things like these that Ironically they benefit a mining sector.

[Thekingcallme 1975]

Yes China is the most powerful country in the field of mining and offers excellent prices and that is why most mining farms are established in China

[cryptosix 1643]

10 minutes ago, laska smrtici said:

I think a lot of miners are moving to China for mining because they provide affordable prices and that's for good profits

Everything is cheap, including room rents and food cargo, etc. I thought recently to visit china and have business deal. Some may operate remotely by investing large money in Rigs and Chinese people might become rich for every category not just mining and selling.

[Raven 7817]

On 11/12/2019 at 8:56 PM, jyfiuhookl said:

This means that after halving bitcoin will never be worth less than 14 000! Half a year left! Let's go with this plan!

If bitcoin will never be worth less than 14,000 i think that is the right time for all miners because it could give them huge amount of money. That's for me. Correct me if i'm wrong. 

[Migo 7946]

On 11/12/2019 at 9:13 AM, SUGI5091 said:

That is the reason for just a lot of bitcoin farms and mining companies there. Because electricity costs are cheap. That is a good choice for miners.

Yes you are right, in this country you can reduce your mining bill, because let's be honest about how much you are going to pay if you want a profitable mining 

[Afrizal rahman 2636]

Yes they are lucky to be there. because the cost of electricity to mine is very cheap. so they don't spend too much.

[littledi059 1010]

There are lots of strange things going on in China and this is one of them. Anyway they prohibited even etherscan on their country's territory and are making their own coins so bitcoin may also get prohibited there 

[Sumayya 493]

Mining will be difficult so many people will still be out of mining in next year, only china has to mine for us all

[CryptoMaxim 3829]

If you consider that the cost of mining 1 BTC in China is 3172 then I think if the price wakes up bitcoin in the worst case 10000$ after halving the Chinese mining will be profitable and they will continue to mine

[mani982 286]

The average mining cost of Btc is not this price which is mention here.i want to tell that please search that if The cost of Mining 1 Btc is 7200$ so every miner stop mining in this bearish market and buy bitcoin from exchanges.

[Akbor 1042]

I also know this but after halving of this year people will be much interested on btc as the price of btc will go high then and the miners will get small amount but high price.

Edited January 10, 2020 by Akbor

[patitaycute 648]

I am not shocked about the mining was dominance by China. Somehow, it is an interesting facts about Bitcoin not only the creator of Bitcoin but on its market of Bitcoin.

[nicolas1234789 2566]

That's only prediction the problem is if bitcoin can be monopoly by China it will be nightmare. Mining is expensive method and I'm sure only 10% around the world but they have biggest bitcoin supply, that's the problem. I'm not expert so I'll let bitcoin grow up and create trend, just follow it and exit when reach the limit.

[dinabolt 514]

News like this will create many opinion and we make us confuse. I suggest we read it as knowledge but stay focus with our strategy. Simple explanation is only you can change your life, stay positive with bitcoin set your target and safety, enjoy the profit.

[Heroshema 0]

Its an amazing thing to know .. I wish if there's someone can talk about the miracle of Blockchain and the new technology behind this hidden world

[azhar9 1]

Interesting. I anticipate that the price will hover around about 13k for a while and then probably wont fall below 10k in the future.