|
Title: Introducing Hash's Law Post by: blajde on April 02, 2014, 09:10:17 PM At 2014-04-02 Crypto made it obvious to all users:
The new low, introducing Hash's Law. at a value at 420$ the community stands united and strong. China can collapse, Mt.Gox can fall but 420 is unbreakable. Today history was written! You can take our money but you can take our PoF (Proof of Freedom) Regards, / Hashish community spokesman Title: Re: Introducing Hash's Law Post by: roslinpl on April 02, 2014, 11:34:39 PM At 2014-04-02 Crypto made it obvious to all users: The new low, introducing Hash's Law. at a value at 420$ the community stands united and strong. China can collapse, Mt.Gox can fall but 420 is unbreakable. Today history was written! You can take our money but you can take our PoF (Proof of Freedom) Regards, / Hashish community spokesman Well hello! :) Yes you are right. I must add that $420 is a great price according to price 1 year ago! Bitcoin will never die :) Freedom is a state of mind! Title: Re: Introducing Hash's Law Post by: induktor on April 03, 2014, 12:10:42 AM I disagree, anything below 600 is desastrous for miners that have invested heavily in it.
at the current exchange I can hold production for two more months, if the price doesn't go up, I will have to shut everything off :-[ Title: Re: Introducing Hash's Law Post by: K128kevin on April 03, 2014, 01:25:43 AM I disagree, anything below 600 is desastrous for miners that have invested heavily in it. at the current exchange I can hold production for two more months, if the price doesn't go up, I will have to shut everything off :-[ :( I think the price will be a good amount higher in 2 months, so hopefully you won't have to shut everything off. I will be very surprised if it is lower. Title: Re: Introducing Hash's Law Post by: twiifm on April 03, 2014, 01:29:35 AM I disagree, anything below 600 is desastrous for miners that have invested heavily in it. at the current exchange I can hold production for two more months, if the price doesn't go up, I will have to shut everything off :-[ This is interesting. So you are saying it costs more than $600 to mine 1 BTC? Title: Re: Introducing Hash's Law Post by: right wing authoritarian on April 03, 2014, 01:40:39 AM It could cost 600 if depending on hardware and electricity price. Although people who stayed in mining when the price fell from 30 to 2 dollars made a killing. So it all depends on your expectations. I suspect many people with older asic will retire their gear though if and when BFL starts delivering.
Title: Re: Introducing Hash's Law Post by: aminorex on April 03, 2014, 02:12:39 AM I have long since retired asic miners. And BFL gen 1. Now looking at retiring BitFury. Running Cointerra happily. Looking at A1s. And yes, if you buy A1s today, and sell under $600 you are taking a loss. Since the hash rate just jumped a LOT recently, probably $700 is a better estimate of break-even. Since the majority of mining capacity was bought at a much higher price than today's capacity, almost all miners are losing money unless they hold out for much higher prices.
Title: Re: Introducing Hash's Law Post by: twiifm on April 03, 2014, 02:25:56 AM I have long since retired asic miners. And BFL gen 1. Now looking at retiring BitFury. Running Cointerra happily. Looking at A1s. And yes, if you buy A1s today, and sell under $600 you are taking a loss. Since the hash rate just jumped a LOT recently, probably $700 is a better estimate of break-even. Since the majority of mining capacity was bought at a much higher price than today's capacity, almost all miners are losing money unless they hold out for much higher prices. Yikes, sorry to hear that. I never thought about the economics of BTC mining. What happens if the miners close shop? Don't you need miners to support the network? What about the commercial operations? Does it cost them the same? I suppose its cheaper where electricity is cheaper Title: Re: Introducing Hash's Law Post by: Bit_Happy on April 03, 2014, 02:59:59 AM At 2014-04-02 Crypto made it obvious to all users: The new low, introducing Hash's Law. at a value at 420$ the community stands united and strong. China can collapse, Mt.Gox can fall but 420 is unbreakable. Today history was written! You can take our money but you can take our PoF (Proof of Freedom) Regards, / Hashish community spokesman Low: 416 USD Introducing Hash's Law amendments? We are near the bottom, hopefully. Title: Re: Introducing Hash's Law Post by: right wing authoritarian on April 03, 2014, 07:24:12 AM [/quote] Yikes, sorry to hear that. I never thought about the economics of BTC mining. What happens if the miners close shop? Don't you need miners to support the network? What about the commercial operations? Does it cost them the same? I suppose its cheaper where electricity is cheaper [/quote] Hash rate goes down if miners quit, making it more profitable to mine. There will always be mining. I am planning on buying up a lot of the unprofitable hardware to make bitcoins if there is a hash crash. Title: Re: Introducing Hash's Law Post by: softron on April 03, 2014, 07:32:12 AM I agree too. Anything below 400 and buyers would pop out everywhere.
Title: Re: Introducing Hash's Law Post by: blajde on April 03, 2014, 07:33:40 AM At 2014-04-02 Crypto made it obvious to all users: The new low, introducing Hash's Law. at a value at 420$ the community stands united and strong. China can collapse, Mt.Gox can fall but 420 is unbreakable. Today history was written! You can take our money but you can take our PoF (Proof of Freedom) Regards, / Hashish community spokesman Low: 416 USD Introducing Hash's Law amendments? We are near the bottom, hopefully. Hash's law is more than just a number. Anything below 420 is still 420 since we will always be higher Title: Re: Introducing Hash's Law Post by: pandher on April 03, 2014, 07:39:47 AM 416 now
Title: Re: Introducing Hash's Law Post by: NoWhammies on April 03, 2014, 08:35:27 AM Title: Re: Introducing Hash's Law Post by: Corelianer on April 03, 2014, 11:46:36 AM I'm buying now because I know that I can buy them cheaper than miner can produce them.
Title: Re: Introducing Hash's Law Post by: BitOnyx on April 03, 2014, 12:30:45 PM It is not new low when you compare it to price one year ago.
People have very short memory . Title: Re: Introducing Hash's Law Post by: spazzdla on April 03, 2014, 04:41:29 PM $450...
Title: Re: Introducing Hash's Law Post by: Bit_Happy on April 03, 2014, 04:52:34 PM $576....$780!
Let's buy some more hashing power? :D Title: Re: Introducing Hash's Law Post by: right wing authoritarian on April 04, 2014, 12:41:43 PM All this anxiety about bitcoin volatility and analysis of the consequences of price changes is kind of funny. If bitcoin was perfectly stable then the return would equal that of other risk free assets. Higher risk higher return and more chance for cheap coins.
Title: Re: Introducing Hash's Law Post by: Cheesus on April 04, 2014, 01:56:38 PM All this anxiety about bitcoin volatility and analysis of the consequences of price changes is kind of funny. If bitcoin was perfectly stable then the return would equal that of other risk free assets. Higher risk higher return and more chance for cheap coins. This. There is a very slim chance you will find an investment that will be risk free and will offer high reward... Title: Re: Introducing Hash's Law Post by: lemfuture on April 04, 2014, 01:59:17 PM the algorithm reference pof was kind of cheesy
Title: Re: Introducing Hash's Law Post by: johnytelevision on April 07, 2014, 02:29:29 PM I don't even care about mtgox any more.
Now there is new problems, but we are going to deal with them. Title: Re: Introducing Hash's Law Post by: AT101ET on April 12, 2014, 11:03:46 PM Seems like your law didn't last long though.
No matter how strong a community we are, if China dumps, it'll automatically drive prices down. Think of it as an exchange rate. They dump, supply increases and people buy at lower prices. For the strong believers in bitcoin, they'd open their arms to a dump to pick up cheap coins as they genuinely believe it'll rise long term. Title: Re: Introducing Hash's Law Post by: blajde on April 12, 2014, 11:10:05 PM Seems like your law didn't last long though. No matter how strong a community we are, if China dumps, it'll automatically drive prices down. Think of it as an exchange rate. They dump, supply increases and people buy at lower prices. For the strong believers in bitcoin, they'd open their arms to a dump to pick up cheap coins as they genuinely believe it'll rise long term. It is still stable around 420 at the moment Title: Re: Introducing Hash's Law Post by: AT101ET on April 13, 2014, 12:05:56 AM Yes, but it went below $380 two days ago :)
Title: Re: Introducing Hash's Law Post by: joesmoe2012 on April 13, 2014, 01:17:58 AM hash's law = fail
|