How much does bitcoin really cost? *waves hands furiously*

The mongoloids at Reddit are a special bunch. Here, someone with 2 brain cells to rub together decides to actually crunch the numbers on bitcoin mining.

Hmm, that’s a pretty valid argument. At what point does the electricity to run the rigs surpass the profit from coins mined. $11mil/year just ináelectricityácosts directly contributed to bitcoins seems very high.

I’m sure the hive mind of Reddit will have a clear, concise answer for the guy. Let’s check out the top-rated comment.

Ah yes, just furiously wave your hands at the question and mentionásomethingáabout gold. Great job guys!

Here’s a bonus comment for you as well: