The forum post
The miner's post laid out the math plainly. Mining a block cost $5.68 in electricity. The reward was 50 BTC. The miner's conclusion: it wasn't worth it. The post is a snapshot of a time when Bitcoin had no real market price and mining was a niche activity for a small group of enthusiasts.
The math
The numbers are simple. $5.68 for a block that yielded 50 BTC. The miner's calculation suggested that the value of the 50 BTC was less than the $5.68 spent on electricity. That's why they called it a net loser. The post doesn't say what the miner thought Bitcoin would be worth, only that the electricity cost was too high.
A different era
The post is a reminder of how much has changed. In 2010, mining was a far cry from the industrial operations that dominate today. The miner's complaint about electricity costs seems quaint now, but it was a real concern at the time. The post also shows that even early adopters had doubts about the economics of Bitcoin.
