Bitcoin Miner Terraminer IV Cointerra Machine – Coiniac

At what price will Bitcoin fail to function? My estimate: ~$100.

I'll begin with my conclusions:
If the Bitcoin network consisted solely of 'Titanium ASIC' miners, the most powerful and energy efficient mining machine I know of, then the price point at which electricity costs begins to exceed rewards is $71/BTC (based on yesterday's network figures; more on that later). More realistically though, most miners aren't running highly efficient Titanium ASICs, hence I estimate ~$100/BTC as the turning point.
I say 'fail to function' in my title, because who will continue to mine at a pure loss? It would be irrational - the rational action would be turn off the machine until the value of the rewards increases. Note: This is not the same as sunk costs in buying hardware - because in that case even if you never get back how much you paid, you're still making something.
Perhaps, you might counter, Bitcoin enthusiasts will continue to mine at a loss. Well consider this: To sustain just 1% of the current network hash rate, you would require 559 Titanium ASICs costing over one million dollars in yearly electricity cost (at $0.10/kWh) - and that's a best case scenario.
Let's assume that's the case - you have Bitcoin Enthusiasts contributing the equivalent of 559 Titanium ASICs hashing power for free out of their pocket. That's a 99% drop in hash rate. The time to a difficulty retarget is 2016 blocks, or at 10minutes/block that's 2 weeks. But if the hash rate were to drop by 99% within that two week period, then the block time would balloon out to 16.66 hours - making the block retarget ETA up to 3.8 years!
If transactions took 16.66 hours just to get a single confirmation (if they had first priority), then how would use of Bitcoin remain practically feasible? Would people still have confidence in the system and the developers for allowing this to happen? How difficult or costly would it be to launch a 51% attack?
Now, on to the calculations, and a few less optimistic alternate scenarios:
Network hash rate at time of calculation: 335,365,290.09 GH/s
335,365,290.09 GH/s / 6000GH/s = 55894.215 'Titanium ASIC' miners
55894.215 x $5.28 daily electricity cost (At $0.10/kWh) = $295121.4552/day in electricity costs
= $1776.87709485/block (avg. time of 8.67 minutes)
$1776.87709485 / 25BTC block reward = $71.04/BTC = break even point.
The above does not account for pool fees or transaction fee revenue or more importantly variance in kWh rates ($0.10/kWh is nonetheless pretty low worldwide), and hardware cost is irrelevant to this calculation.
Without doing all the math again, here's some other popular mining machines for comparison:
$113.07 (SP35 Yukon)
$193.84 (CoinTerra TerraMiner IV)
$385.89 (Antminer S1)
I've also just seen the 'Antminer S4' mentioned in /Bitcoin, so just for comparison a Titanium ASIC is almost twice as energy efficient as an Antiminer S4 (2200W vs. 4200W for 6TH/s) - it's less efficient than the SP35 Yukon.
If I've made any miscalculations here or have left anything important out, feel free to correct me.
submitted by Josh_Garza to Buttcoin [link] [comments]

Cointerra Terraminer IV Review WORLD FASTEST - BITCOIN ASIC - TERRAMINER IV - COINTERRA ... Terraminer 30.01 RU & EN Vaz Avakyan - YouTube TerraMiner IV by CoinTerra Unboxing Video (Bitcoin ASIC Miner)

Lot of 18 TerraMiner IV 1.6 TH/s Bitcoin Miners. September 10, 2019 MrCrypto. Lot of 18 TerraMiner IV 1.6 TH/s Bitcoin Miners Price : 6,750.00 Ends on : Ended View on eBay . Post navigation ... CoinTerra begins shipment of the TerraMiner IV - the world's fastest Bitcoin miner AUSTIN, Texas – January 31, 2014 -- CoinTerra ™, the high performance and value leader in ASIC Bitcoin mining hardware announced today that they have started delivering their eagerly-anticipated TerraMiner™ IV professional Bitcoin miner – the first to market which breaks the one terahash barrier. Packaged and shipped in original box, static control protection and padding. Cointerra Terraminer IV 2TH/s bitcoin miner. One of the most powerful bitcoin miners available. Hashing at 1.6 to 2 TH/s. c Ich möchte nicht nur dem CoinTerra Team ganz herzlich danken, sondern auch der ganzen Bitcoin Community. Als Dankeschön kann der ... Damit kostet der TerraMiner IV derzeit nur 4.799 USD. Da sich die Miner derzeit auf Lager befinden dauert die Zustellung nur ca. 3-4 Tage. Um das Angebot in Anspruch nehmen zu können, muss lediglich folgender Gutscheincode bei der Bestellung mit angegeben ... Two Cointerra Terraminer Bitcoin Mining Machines Died. By. Ryan Hicks - April 1, 2016. 0. Facebook. Twitter. Pinterest. WhatsApp . Over the years I have purchased a number of Bitcoin miners pre-owned. All the various models of Antminers I have purchased are still mining without fail after years. On the other hand, I purchased two Cointerra Terraminers and they both failed quickly. One failed ...

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Cointerra Terraminer IV Review

This is the unboxing video of the new TerraMiner IV from Cointerra. In this video we unbox, do a quick run through. In the next video we will show it running... Though I've gotten a feel for the Bitcoin Mining Environment and don't plan on continuing it myself, I figured it would be valuable to everyone else who's interested in these guys to do a review ... WORLD FASTEST - BITCOIN ASIC - TERRAMINER IV - COINTERRA 2TH/s - UNWRAP WITH FULL TUTORIAL - Duration: 8:32. Vaz Avakyan 188,546 views. 8:32. TerraMiner IV by CoinTerra Performance Follow-up Video ... Things you need to set it up: Ethernet Cord 20A outlet or 2 x 10A outlet Username: Admin Password: L... WORLD FASTEST - BITCOIN ASIC - TERRAMINER IV - COINTERRA 2TH/s - UNWRAP WITH FULL TUTORIAL - Duration: 8 minutes, 32 seconds.