Why would anyone pay $23k for something that only costs $8k to mine? Is the average person really this stupid?

Why would anyone pay $23k for something that only costs $8k to mine? Is the average person really this stupid?

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Why would anyone pay $1k for something that only costs $80 to produce? Is the average person really this stupid?

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That's the cost to the miners. The average person is paying for their own lack of knowledge. Same reason why 99.999% of people pay some one $40 to change the oil on their car when 5 quarts of oil is like $20 or less

It costs 8k to mine if you invest $50,000,000 into the set up you fucking twerp.

Go see how much it costs and how much you make if try to mine at home, or even with shitty 100k worth of equipment

Article dated from June, dumbfuck

imagine it costing 80$ to produce

Yea, no. Full synthetic and good filter end up being like $50.

The only reason I do it is because they dont tighten the bolt, filter, or forget yo put the oil cap back on. Or break something for more service fees. Every time.

>June 7

>$50,000,000 setup.
You're an idiot.
>Article from June
What's your point, the cost to mine it hasn't changed much since june. The big swing in cost happened in May.
In april, before the halving, it was only $4,000 to mine a bitcoin.

>difficulty never adjust
can you just stop now you fucking retard.

It really do tho.

>hasn't changed much since june
kek

Learn how the network works you colossal faggot, it's been over a decade just LEARN

The difficulty adjusted in May retard. That's why the price to mine it went up in May. June is after May smart guy, it dosn't just keep going up.

pre-halving. Costs $16k to mine now by that maths

It hasn't. Other than inflation, which is effecting everything, not just BTC. You could add 20% for MASSIVE inflation, and your not even close to $23k.

im not buying your used overvalued metal paperweight chink.

fuck off and never come back

Just how stupid are you? You're not going to be able to mine even a single sat on anything less than a full-blown enterprise computing center set up

This

I know how it works. I bet you think chainlink is worth $15 too.

Do you unironically think a pair of shoes costs more than $5 to produce? Most of them literally costs CENTS because they buy the materials en masse. The only exceptions may be the ones with actual gold and diamonds in them, but how many shoes have you ever seen/had like that?

I can't tell if you're fucking retarded or trolling anymore so I'm going to go with both.

No. You don't understand. Pre-halving it was $4,000. After the halving it was $8,000. That article is after the halving, not before.

read the whitepaper faggot

You just don't understand how it works.

I read the white paper in 2011. I know how it works.

>I know how it works.
you obviously dont if you're too retarded to google "btc difficulty"

I don't need to google it. I've been mining it since 2011. I'm just saying, why would anyone buy bitcoin for $23k, when they can just mine it for $8k. I think a lot of people are just stupid, and can't figure it out, or they listen to shills who lie about how it's harder than it is.

The difficulty adjusts every two weeks retard

It probably costs $8k to mine with hundreds of thousands in equipment, buried underground in a mine shaft, running on a heavily subsidized Chinese power grid. This is kind of deceptive and you would not see 100% gains mining off a regular ASIC miner or something