Cool Bitcoin Infographic I Found

in #bitcoin3 years ago

Saw this graphic posted by the @btc account on twitter. Shows the cost of mining one bitcoin in each country (prices shown in USD) according to said country’s electricity cost, pretty cool. Interesting to consider how this may effect markets. Also works as a good general estimate of at what levels miners are likely profitable.
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Upvoted ($0.21) and resteemed by @investorsclub

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Upvoted ($0.21) and resteemed by @investorsclub

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wow, Venezuala , only 500 USD? I dont think alot of people are actually doing any mining there, unless they were wealthy before their economic crsis began. so If u want to start mining, move to Venezuala, and support their electricity companies?

This is purely if you are a stand-alone , as I can imagine if you are a business you can potentially claim lower electric charges (atleast here in Belgium)

Or if you got your own power source, you're having only to pay your gear :)

Unfortunately while due to the inflation of the bolivar, electricity is extremely cheap in USD in Venzeuela, the corrupt socialist government has been known to send police or other strong men to intimidate miners into paying the government a share, or confiscating their mining equipment.
So unfortunately, mining in venezuela isn’t quite the sweet deal it appears to be on paper.

Very interesting as this could provide some light on what the bottom could be on prices as it could be seen as part of the intrinsic value of one BTC. Thanks!