Originally Posted by psionl0
Weasel words. Even if every website published precisely accurate figures (an obvious impossibility given that not all Bitcoin miners are registered companies who have to declare their costs) since costs vary over time the figures are expected
to vary. That doesn't justify your assertion that the numbers have ZERO reliability.
Simple, but not so 'reliable'. The estimated total average power being used globally to mine for bitcoins is just that - an estimate
. There is no reason to believe it is more accurate than other methods (eg. getting cost information directly from miners).
Conclusions like "the Antminer S9... Given current difficulty, 0.04$/kWh and S9 running custom firmware bringing it down to 71W per TH efficiency. The cost to mine 1 BTC is $8206.64"? Is that data not 'raw' enough for you?
The proximate cost of mining Bitcoin is the difficulty level. This has nothing to do with the price.
A short introduction to Bitcoin mining difficulty
And it's happening again.
Bitcoin has just posted its biggest mining difficulty increase in nearly 2.5 years.
Miners get more advanced hardware that processes the blockchain faster, causing the difficulty level to rise. This
is the reason mining costs go up. When the price goes down these more efficient miners are still working, so the difficulty rate stays high until they stop running because the price has dropped below cost. In theory the cost and price should converge, but in practice the feedback delays and external factors (improved tech, changing power prices etc.) can cause the opposite as the feedback turns positive or chaotic.