1300 BTC wall (which is a huge wall by recent volume's standards) just went up at 118.19 before a 500 BTC sell off. After sell off it moves to 117.89.

I've been thinking the last few days that with the ask depth being piled up so high and prices not able to make any real progress beyond 118, any large downward movement, something that took the price down to 103-104, in the market could trigger a cascade of stop-loss and panic sells as people look for an exit fearing prices won't rebound.

What brand of 7950? New, or used?

That's because the market has been characterized by low volume for 5+ days. When it did pick up action, it was during a pump and has dwindled down ever since. The market is not exactly bullish.

It should work unless that MB has some notorious issue. An hour of forum/Google/Reddit searching should confirm/deny that though.

You'll need to use risers because of the heat. One of them will have to be powered. The 1x will mine at the same speed as 16x.

Honest question, why do you need a Sandy Bridge?

There's really been very little support above 114-115 all week with the exception of the mega buys that drove it from 113 to 122 overnight.

Put fourkey on ignore before rptelia.

Thanks for the help. How can I accurately calculate for the amps on a residential circuit? I'm looking to build a few rigs so I want to make sure I do it right.

Are they really 300W each? When I spent 2 hours searching here/Reddit/Google most of the replies I saw were that I could expect 200-225-250 each. I'm going to be using the Gigabyte cards with the updated bios.

Bitcoin's value as a currency for real world goods right now is entirely contingent on its rate of exchange to USD. It lacks the large scale, mass adoption to be used as a currency all on its own at this time. However, even if one were to buy it to use as a currency, they would still be better holding and waiting for the price to increase before spending.

Some people in BTC communities seem to get upset if you want to buy Bitcoins for a reason besides using them as a currency, as if it defiles the purity of Bitcoin's original intention, but it's not realistic. BTC would still be sub $30 USD if people were buying it exclusively to use as a currency, and it would probably stay there forever. It gets to establish itself as a sovereign currency only after it goes through a phase wherein people establish its value by backing it with their own fiat, whether for investment or speculation or a use as currency.

An unestablished crypto currency will simply not gain the consideration of the population-at-large without going through such a process at this stage in history. The reason is because this is the first time in history there has been a crypto currency. People don't know or understand what it is or how it works, why it isn't a scam, or why it isn't a scheme. People are used to dealing with fiat or metals. Fiat and gold were/are only worth something because people vested value in them, and that too, took a process. It's just that the process is a hundred or a thousand or more years behind us.

With cryptos, that process is unfolding while we sit here typing to each other.

Bitcoin's fundamental protocol is really good and really sound. The problems Bitcoin has had revolve around shitty businesses/scammers. Once BTC starts to get supported by more companies like Coinbase/Bitpay we'll see $1000USD/BTC np and the trading scale will switch to mBTC right away.

Only way Bitcoin fails is if governments seriously saboteur it by preventing banks from processing fiat transactions in relation to it, but the gamble is that once the establishment tries to assault Bitcoin, the counter force and backlash will serve to propel Bitcoin to the level of a household name and away we go.

We're sitting in the long-term bear trap of Bitcoin right now, that time where everyone is unclear if they should get on the boat and where everyone is unclear if Bitcoin will succeed or fail. Once a positive outcome becomes obvious, the opportunity to get in profitably will be lost.

In reality right now you can buy at any price, including the bubble high, and not be wrong. It's just that you may have to hold your coins for several months or a year before you can realize your equity.

Bump

I've spent a few hours searching but haven't been able to find good answers. How large of a PSU do I need to run a 5x 7950 rig? 1250W or 1500W? If 1500, what are some good models?

Also, can I safely run 1/2 of these on a residential circuit (North America)?

Thanks in advance.

This is actually a pretty big deal.

Pictures, brands, prices please.

Tbh I think people are overestimating last night's mild DDOS. The API was unresponsive and the website down for like 15 minutes two times with a five minutes gap in between. It was already a period of extremely low volume. When it came back up the most notable thing was that a 200 BTC market buy drove the price up from 109 to 112 since asks were barren after the ~1kish dump that took it below 110.

You can't draw many meaningful conclusions amidst a no volume phase.

Extended periods of low volume slowly creep up until the situation becomes characterized by a large market order. Market hasn't shown any willingness to break 116 since the last time it was 120 and 114 is also 12 hours behind us.


30k depth to 100 may be the only thing stopping the market sells

What kind of temps/hashes are you getting out of it?

Only because volume is so low.