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Simbio | 2 years ago

Current bitcoin price is around 35k USD. This means that mining of one BTC going to cost you up to 35k USD (including the cost of equipment, electricity and everything else like the probability of finding a block). Why so? If the cost of production was higher than market BTC cost then it would be not profitable to mine. If cost is much lower then it's worth to buy a mining rig and start mining.

1 block gives 6.25 BTC for the block and around 0.5 BTC from transactions. 1 block contains 4k transactions.So 35k US/BTC * (6.25 BTC + 0.5 BTC) / 4k transactions ~= 59$ per transaction. That includes all energy spent by all active miners and full cost of equipment.

Not sure if a "swimming pool of water" costs 60$. I guess not.

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