The next time someone says "BitCoin consumes too much in resources." I want you to send this to them. The costs of printing U.S. dollars involve multiple layers, including material costs, operational costs, labor, security, and transportation. Here's a breakdown of the known variables and their approximate contributions: Material Costs
Approximate Costs: Around $0.08 to $0.13 per note for materials alone. This is just the cost to produce a single bank note of varying denominations. THis does not include the below costs ive outlined. Printing Machinery
Annual Costs: Estimated tens of millions of dollars, depending on production levels and upgrades Labor
Labor Costs: Estimated at hundreds of millions annually, as the BEP's total operational budget (including labor and materials) for producing currency is around $1 billion annually. I mean someone needs to do the physical work and we need to pay them for it. There is also their healthcare coverage and other expendables that go into their exitance as workers at the facility. Security
Security Costs: Not explicitly broken out but a significant portion of the BEP's budget. Security can be either from a private inhouse or subcontracting company so the costs for this can vary but lets say security is provided by itself of the BEP in all stages. They can run up the charge reducing its overhead in the year end so again not only do they print money out of thin air but they can out of thin air, create there own costs of operation. Waste Management (everything is poop)
Estimated Costs: Millions annually, depending on waste volume and disposal methods. Transportation
Estimated Costs: Tens of millions annually. Utilities and Overheads
Utility Costs: Tens of millions annually. The more they print, the more they work err-go the more it costs. Total Approximate CostsThe BEP estimates the cost of printing currency at $0.07 to $0.15 per note, depending on the denomination and security features. The total annual cost of printing currency (all denominations) is in the range of $800 million to $1 billion. Now lets not forget what happened in 2023
For more precise numbers, the BEP's annual reports provide detailed financial breakdowns, though specific security-related expenses are often classified. Let say we wanted to ESTIMATE the grand total of all costs involved in printing the USD. We can find the number to be around $1.5 Billion ANNUALLY. This does not factor in how much money it takes to DESTROY money. The total cost falls between $1.15 billion and $1.95 billion annually, with $1.5 billion being a reasonable mid-range estimate. This estimate is based on publicly available data from the Bureau of Engraving and Printing (BEP) and does not account for classified security expenses, which may add additional costs. [link] [comments] |
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