Xman

cost about 500 to 800 RMB to mine a btc, shocked?

OKCOIN:BTCCNY   Bitcoin / Chinese Yuan
106 2 3
How much it cost to get a btc if you are miner?
Here is the real story, friend of mine invested 300K RMB, and right now he is making about 1 btc per day, cost of mining btc is around 500 to 800 RMB per coin , no more than 800 according to him, cost will be a little higher in summer, since needs more power to cool off the machine, so here we go, summer!!!!. He is happy to sell at 1600RMB, so I finally understand why it became hard to even hit 1600RMB, because they already made 100% profit at 1600!!

Right now the world is making around 1500 to 3700 btc per day (if you know better, correct me). high pressure for the market to digest with current volume . So keep it more realistic when you are waiting for huge pump, not easy.
But with better market, price of mining equipment will go higher, cost of mining will go up, then we can wish enter a new circle, a bull market that everybody waiting for.

Short now!!!
Donghyeon Lee
2 years ago
It is much more important news than any chart analysis. This gives us that minimum price for BTC (unless BTC totally fails) is 500~800CNY. If there is no special buying power, price crash is inevitable; we just do not know how it will happen.
Reply
Xman Donghyeon Lee
2 years ago
I had the same feeling, after I knew this I just don't expect huge pump blindly, and no doubt to short at the tip.
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