Interesting Crypto & Bitcoin fact !

[DDermf 14]

I think a lot of people didn't know that. Bitcoin has gained its frenzied popularity and high price in many ways due to the fact that with its help illegal transactions are made in the darknet

[candyguyyy 43]

well i think mining costs to mine 1 bitcoin it more higher than $3172  please check cloud mining fees

[Chrenova 182]

I think bitcoin mining is the most profitable thing in the world right now. But not all of us can invest in this, because to have good rewards at the end of the day, we have to have a very powerful team to be able to mine. And these have a very high cost, they also consume a lot of energy and generate a lot of heat since they are working 24 hours a day. I believe that in very few places are they correct to mine bitcoin correctly, and hopefully one day I can have a team of these. I also believe that a solution is cloud mining, we can rent someone else's miner for a certain time and thus receive the rewards, obviously this does not generate the same profits, but it is a good option.

[Ridam 7455]

On 8/11/2020 at 9:58 PM, Guru2050 said:

 this is why majority of BTC minners are in China. 

@Guru2050 There are some of the biggest mining firm in China and as it's the hub for technological advancements the cost of devices to mine are also cheaper. All products used in mining are made there that's why the price reduced significantly.

[alexandra fernandez 44]

Well indeed, you always hear predictions about the price of Bitcoin, but they are rarely supported, nobody knows how some experts get their numbers out, very few give explanations, amounts are thrown around like darts, but they seem more like wishes than serious analyses, we've been hearing forecasts that don't come true for years. Already people are beginning to doubt these crystal balls that talk a lot, but hit little.

[bogdanoff 3173]

The cost you said is too high. I have read very lower cost of mining and today it can be $8000 for the average and very cheaper in China maybe lower than $4000 per Bitcoin. This is because China has very cheap electricity.

[Mella 3680]

Many thanks my dear, you are gave us this information I am hope though for a better link where you are get your source because telling source=google means nothing. If this is true it is something very hard for miner to make Bitcoin at this price and how are they still running. Maybe you are wrong in these number.

[khan22 3478]

Crypto market is just a single business where we can change our life in a short time and we can easily do this just through trading and also through buy the coins and hold that coins for a long time still that price is go to high.

[Guru2050 8284]

18 hours ago, Ridam said:

@Guru2050 There are some of the biggest mining firm in China and as it's the hub for technological advancements the cost of devices to mine are also cheaper. All products used in mining are made there that's why the price reduced significantly.

Very good, you have said it all @Ridam happens to be one the country with strong economy and leading technologically. This enable stable electricity supply which is the basic components required by miners to set up for mining.

[Ndayebo8 0]

I am willing and willing to take a risk this will cost a lot. With the coming half of this year, we will see the results whether what we assumed are in place or is there still a slowdown in price growth. Everyone is buying and waiting for what will be seen in the days and analyzes

[percare 3192]

It is not this high 14k cost on average to mine bitcoin will shut down everyone. The chinese miners are having very low cost maybe lower than 5k and the rest of the world bellow 10k on average. There are places where electricity costs higher but nobody is mining in there.

[Ridam 7455]

On 10/18/2020 at 1:19 AM, Guru2050 said:

Very good, you have said it all @Ridam happens to be one the country with strong economy and leading technologically. 

Exactly @Guru2050. Chinese miners have resources in least price for mining. And There are biggest firm in the world too. I have watched a documentary from Vice. The company is mining 25 BTC per day(it may have decreased due to difficulty and halving) which is a great achievement. You can watch how big the mining firm is Here.

[yonkii 3205]

I don't know a lot about that but if your estimates are real it would mean that miners are still mining in loss? This will not happen as they want to be profitable and they would have stopped with so high mining cost. The average cost to make a Bitcoin must be a lot lower from what you wrote here.

[zhoutong 2188]

I don't think this estimate is correct but it could be given the power cost in all countries of the world even where the mining is not happening exactly because of the higher cost of electricity. The Chinese stats of around $4000 seem to be correct though but I think this is the cost currently, after the halving.

[Onden 2098]

I think most of the bitcoin mining is in China. The price of bitcoin will rise after half, the increase has occurred since January this year and is still increasing until now. We'll see if the halving has a big effect on the significant increase in the price of Bitcoin.

[annayks 2314]

Thanks you for the information, I don't know if it is real but it should be close. The mining was increased in china lately because of the halving but I have seen many american corporations like Riot trying to increase their production and have plans for expansion. Also Iran and Venezuela are into mining a lot and we have to expect changes in the mining map.

[cryptovlek 2597]

The average cost of mining is probably today 8000. If you got your stats somewhere you should give the link where you found them. I don't consider this data to be valid and I can make posts with having any prices I want will it make this real?

[Fixfin 2569]

Thank you, this is very interesting and it can helps us a lot in our analysis of the market condition but I am not very sure if the numbers are correct as you are saying that the cost of producing a bitcoin is higher than the price it hasfor many years now.

[Sykkuno 2887]

I have read about different prices but perhaps these change and since mining and difficulty is changes it can be correct that only in china and a few more locations lately mining is profitable while in most of the world it isn't.

[Projectcrypto 4382]

5 hours ago, Sykkuno said:

I have read about different prices but perhaps these change and since mining and difficulty is changes it can be correct that only in china and a few more locations lately mining is profitable while in most of the world it isn't.

Mining is actually profitable but the major problem that it requires accumulate more capital to accomplish the task which is why mining belongs to only people with huge capital because for you to mine you need a electric power, computer device and other equipment which are cost.

[khan22 3478]

Crypto market is very interesting market and in this market peoples will change the life and so many peoples will know that crypto market change the life so many peoples in a short time and thy make good money in it.

[Mosab73 333]

China is one of the developed industrial countries and it is the second largest economy in the world after the United States and thus electricity fees will be cheap and thus the Bitcoin mining process will be cheaper, while in third world countries the electricity bills and therefore if some governments adopt Bitcoin mining it will become a central currency

[Guru2050 8284]

12 hours ago, Ridam said:

Exactly @Guru2050 I have watched a documentary from Vice. The company is mining 25 BTC per day(it may have decreased due to difficulty and halving) which is a great achievement. You can watch how big the mining firm is Here.

Okay! @Ridam thanks for amazing information but may be next time you should attach the link for me to gain access to the site, company to add experience too. I have tried the one shared but it's not active.

[Ridam 7455]

10 hours ago, Guru2050 said:

Okay! @Ridam thanks for amazing information but may be next time you should attach the link for me to gain access to the site, company to add experience too. I have tried the one shared but it's not active.

@Guru2050 I have checked clicking on the link I embedded and it's working fine for me. It's an YouTube video covered by Vice News. You can search and watch the video accordingly the screenshot posted below.

[ramonn22 731]

In this bitcoin you have to take it with a grain of salt because it is already known by all that nobody knows with certainty what can happen remember two years ago it was $ 20,000 therefore not everything can happen that rises to unknown limits or falls below but this it's already more difficult
Big winnings and luck for everyone
A big greeting