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10807606 No.10807606 [Reply] [Original] [archived.moe]

>Bitcoin can't go under 5k because of mining costs

>> No.10807610

>>10807606
Is this true?????

>> No.10807639

>>10807610
Only on Bithump

>> No.10808538

>>10807606
In the latest quartely report, Robert ladd, CEO of MGTI, said their cost of mining was 4k a coin. I assume their price to be lower than the majority of miners, so I would say the average cost to mine a bitcoin as of today is around 4k-5k.

China is the only one who can mine at prices sub 4k because of their dirty as fuck coal power options. But that price point would not be sustainable for long, so I truely believe that bitcoin has minimal downside from the 6.4k price level.

If you still belive in bitcoin long term, then now is a great time to buy.

>> No.10808564
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10808564

>>10808538

>>
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