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Title: where is AngelusWebDesign? Post by: pennytrader on October 17, 2011, 05:53:05 AM Usually every time there's a big drop in the price, I expect him to post something. (And I really enjoy his posts :)
Title: Re: where is AngelusWebDesign? Post by: AngelusWebDesign on October 17, 2011, 06:44:29 AM Like many guys here, I get busy from time to time, and just don't have much time to post. Also, once you've posted for a while you've experienced just about everything (at least it seems) and so you feel like you'd be repeating yourself.
I was thinking about Bitcoin price today, pondering the Bitcoin economy (including "how much money is entering the system each day?"), price vs. difficulty, etc. but I haven't reached any conclusions or inspirations to post anything. Except for this: The recent release of merged mining is going to have the effect of inflating the # of Bitcoins beyond the usual expansion rate. (Like any alternate blockchain, that is.) You're basically creating more stores of value, chasing the same amount of $$$ coming into the system each day. That's why I wasn't surprised to see a large drop. Basically the "bonus NMC" -- which we were all so happy to treat as a bonus, and for a while they are -- are being baked into the price right now. That is to say, in a few days you won't be able to make a small profit (or break even) WITHOUT the extra NMC income. The constant erosion of profit continues. I think if selling video cards were easier, there'd be a much larger drop in hashrate these days :) And then there's human psychology. One you've set it all up, there's not as much incentive to quit -- after all, you've invested all that time, right? It's getting harder and harder to make a buck though... Title: Re: where is AngelusWebDesign? Post by: d.james on October 17, 2011, 04:27:51 PM Thanks, I also enjoy your post from time to time 8)
Title: Re: where is AngelusWebDesign? Post by: AngelusWebDesign on October 17, 2011, 04:34:57 PM I woke up today, thinking the price of BTC was 2.50 -- of course, the first thing I did was visit Mt. Gox!
This is one dream I wish hadn't come true. Title: Re: where is AngelusWebDesign? Post by: d.james on October 17, 2011, 04:40:21 PM ???What did you do when you visited MtGox this morn? ;)
Title: Re: where is AngelusWebDesign? Post by: Bitcoin_Silver_Supply on October 17, 2011, 05:46:26 PM I think most of those hanging on groaned unsurprised. Unfortunately, the bubble is still popping.
Title: Re: where is AngelusWebDesign? Post by: pennytrader on October 18, 2011, 05:10:43 AM AngelusWebDesign, you should also visit the Speculation board and make some points there, even people might not like to accept the truth there...
Title: Re: where is AngelusWebDesign? Post by: DeathAndTaxes on October 20, 2011, 10:18:32 PM I think if selling video cards were easier, there'd be a much larger drop in hashrate these days :) It is "hard" to sell a video card? http://www.ebay.com/sch/i.html?_from=R40&_trksid=p5197.m570.l1313&_nkw=HD+6950&_sacat=See-All-Categories 272 HD 6950s for sale. I do agree about the psychology aspect. Low prices (relative to difficulty) may discourage new rigs but it much longer to encourage people to sell off a rig. |