Bitcoin Forum

 :)

according to
http://www.coinwarz.com/calculators/bitcoin-mining-calculator/?h=2000.00&p=1500.00&pc=0.10&pf=0.00&d=34661425923.97690000&r=25.00000000&er=378.50000000&hc=1500

which i use to compare price of 1 bitcoin and the price of electricity to generate 1 bitcoin, using latest bitcoin miner spec on the market. I get result that 1 bitcoin at this moment cost around 125usd in electricity  alone. this without maintenance/internet/human cost.  this mean no rational miner should be selling under 200 usd.

but do you think btc trader will sell under 200 usd.

Thanks for your input
 ;)

info : the amount of days needed to generate 1 bitcoin presumed around 34 days

I just spent 700$ to acquire some stock. Let's say it is 10 dollars a piece so I have 70. If you think it doesn't make sense that I will sell it for 8$ just because it cost me 10$ to acquire then you don't understand what happens everyday in the stock market. It doesn't matter what it cost to purchase/create etc.. if it becomes worth less than that you will still sell it if it obviously losing value.

So two things, yes they will sell for less than it cost to acquire and yes they will stop mining.

Thank you for your trading tip.
but if they stopped mining, then selling pressure also reduced.

btw if Power Cost ($/kWh) at 0.3
1 bitcoin is 372 just  for the electricity ATM.  
 :'( so sad for them miner there

are you bull or bear or both  ?  ;D

Finally some real input here!!!
+1[/b]

In my opinion is a very valid posibility, I think we will see it lower than we can expect before we hit ATH again.

I won't sell at a loss... it would appear many BTCers are king bag holders as well.. this same concept is why gold is still worth something...  I and many others never sell our  mind coins.

You just want to buy even cheaper coins, c'mon  ;)

$366 is the bottom, no way its going lower..

It is possible but very low odds.

IMO there are too many people like you and I that will buy BTC at $366 but who knows.

Except that market does not care about the cost of production.

If your miner holds Bitoins and price keeps falling every day, then your miner can indeed sell even for $10, and somehow still remain rational.

You miscalculated the cost of production by A LOT! Those numbers are pretty close for individual miners but def not for those huge mining farms.

what kind of electricity you used here? you pedal it on your bike?

While it is possible that miners behave irrational for some time - that is selling Bitcoin below cost base - I doubt they'll do for an extended period. So a panic sell-off is a possibility, but it would be a short term event.

Given the negative sentiment in contrast to positive news, I'm quite sure we are near the bottom. Still, I don't think we will enter a new mania phase right away. I think an extended stabilization phase will follow.

ya.ya.yo!

Early adopters with millions of dollars worth of bitcoins might push the price lower. some of them probably just want a million dollars now, rather than more than that in five years time.

Would you like to substantiate your claims..? I heard same thing when we hit 420$ few months back then it went upto 650$ then fell down to 600$ , 550$ 500$ 450$ 400$ and now again to 366$ and on each stage they said its not going to sink further low but again next week it goes down ..! I hope you are correct here and things do turn around and I'll not deny the possibility of that happening, but I will not deny the possibility of opposite happening either.

The low point of the massive sell off from earlier this year....

How does no one get this...

~$260 was the last all time high hence peoples idea if we break 366 that would be the next "bottom".

No one knows man. Your asking a question that will get lots of answers, but no one knows.

absolutely not.

Selling pressure doesn't reduce because a few miners stop mining. Bitcoin mining is linear, and the rate of production is constant, so logically, another miner will be there to mine the coin and reap the reward. if bitcoin dies, i will mine and hoard them all and revive it. I'm sure there are a couple thousand other people who would still be here, helping me. We're the bitcoin lifer's you see, while many are just here for the buck, not even understanding the technology's basic principles, we are here for the long term, for better or for worse. I was here when bitcoin was 30 dollars, i'll be here when its 3000 dollars

For me it is more likely than a miracle happens and all of sudden we get 1000+ this year.

http://shrinkthatfootprint.com/average-electricity-prices-kwh

great... so can you show me the true ELECTRICITY cost of production of 1 BTC ? or should the electricity be free ?

it's free if you have a rig set up at your job  ;D

Coin trend is switching PoS and PoI type. As more coins enter the market, market cap will get spread to some lesser known coins.

I feel this post should be bumped. Price is 195 and as low as 185 at btce

honestly
i hate this price

You were only off by 14 days, noobtrader l33ttrader. Well done.

Haha I remember this thread, went for a yes on the poll.
Anyway, I'd much rather see it rise than duck below 180 which it is at ATM.

Well take a look on the graph

https://bitcoinwisdom.com/markets/btce/btcusd

The trend is down and it is not possible that bitcoin will reach under $ 200

Just checked preev.com and it hit $ 188,9   :-\

Dude check bitcoinwisdom and check for the lowest price, we've touched $ 154, so thats the current wall, with this trend tho I see it being broken... hope im wrong.

if 154 being broken, i wonder who will still be mining ?  well maybe we will all mining with cpu again just like teh old times ???