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The 67117 user on btcguild has been stuck at 280 TH for ages. how are the sales thread doing on the forum?
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pure FUD - you ever used bitfinex yourself?!
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wait till it's official and truly functional ......
we have been hearing this rumor all along for ages.
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forget about FUD, we are still in a downtrend.
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I think a flash crash is possible with all the leverage instruments out there.
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Pretty sure everybody here is aware of it and what I'm pointing out is quite obvious but HOLY SHIT has the Interest rate hit rock bottom! It's so low we have already dipped multiple times into 0.03xxx for a short time like the other guy her has predicted before. We'll need a lot of bullishness to kick this rate back up. The sum of active swaps is now at 18.5 m which is like nearly half of our maximum where interest rate was just roughly at 0.1x-0.2x
We have been this low before after the bubble burst and bitcon came down from 8xx but if you realize that the huge increase in swap rate was basically the result of manipulation which was exposed by BitcoinIdiotDude (RIP!) and subsequently fixed by BFX I believe lenders are in for rough times and won't see 0.2x for a long, long time if ever.
0.04% per day is roughly 16 % per year compounded so this is slowly getting unattractive for the risk lenders take but I'm sure there are more than enough people to shove their money over because even 16 % is more than you ever see at a bank which unfortunately means we will likely drop even lower without more rampant bullishness.
Oh boy, just yesterday it looked like the swap rate was slowly on the rise again. The former 3 m FFR wall was hacked down to like 1.7 m and new offers below it were drying up but then the prise surged and I am assuming quite a few long positions were closed and the book was bombarded by returned swaps. We have now genuinely broken below 0.04 for the first time with 6 figure wall to keep us down. With fees figured in 0.04% per day is just slightly above 13 % compounded annual interest rate. Looks like the times of risk-free, easy money are over just like I have predicted months ago. This prediction was watered down and delayed though by a continuous series of manipulations. In other words: >tfw when 1 % per day will never come back. :-( Traders are getting more savvy, over $13 million is wiped from the hodlers - now, it's mainly traders taking the new swaps |
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halving will drive prices up!!!
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A simple look to the bitcoin orderbook ( https://www.bitfinex.com/pages/order_book) confirms that. We had about 7000 bitcoins on bid orders down to 30 usd. Currently, we see 23,290 btcs. Many lenders converted themselves into cliffdivers net. An activity suitable for risk-averse investors. geez, one can dump 20k BTC, and assuming no hidden orders, this would take the price down to $250; but the average price for the whole block would come out to $428. Quite a few millions jump to the bid side. |
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Kodak is a good example of this. The company is the pioneer of digital film and technology but refuse to sell/market the product because of their existing cash flow in traditional film. It went bankrupt in 2013 for refusing to change. Once a company gets to a certain size, it is run by more and more by accountants - not technologist or 'business people' |
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how efficient is AM's chips compare to competitors? seem a lot of grumbling about the efficiency.
the already produced equipment is sunk cost. efficiency ensure positive cash flow (BTC in USD minus electricity price) - esp with BTC down quite a bit from the 650 level.
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I am a big believer of crypto$, BTC open up crypto$ to the whole world - but is it the one? I've reservations. Reggie doesn't think BTC is the one either.
However, at the moment, I view most of the so-call 2nd gen crypto as scams.
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too early to talk about bubble, we are still in a downtrend.
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IF I had to guess what happened to the network over the past 24-48 hours, I think that AM+others' hashing power that was added to the network may have forced some of Ghash's older, less efficient equipment off the network. Either that, or AM had actually been mining with Ghash and left...
Time window is too small to jump to any conclusion, the graph shows extreme spike just from normal variation alone. http://bitcoin.sipa.be/speed-lin.pnglooking through the thread, is AM just selling equipment? what about franchising and self-mine? |
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The interest right now is less than a lot of credit card's interest, better risk reward ratio deploying the money else where.
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The bubble deflated and the platform survived. Short interest also fall back to 6.4k BTC - reduction of about 1k BTC. I guess the number of margin-long and hodl people got wiped out. Will probably take some time before things recover.
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bitvc only offers cryto lending. rates are only 0.012%-0.015% - if you want to go short, 796 is the place to go.
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this is getting old, we should put mtgox behind us
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We are now at 200 Petahash for the Bitcoin network, and it is still growing as we speak. There is a good chance FriedCat has something to do with this, I would be patient over the rest of August as this story unfolds. If the price of Bitcoin stays in the $500-$600 USD range, rising difficulty and dropping BTC price will push many of AM's competition into a situation where they either mine at a loss and wait for the price to ramp up, or turn off their miners.
In the approaching environment, whomever can deploy hashrate onto the network at the cheapest cost per GH is going to make bank. AM may well flood the network with cheap to run Gen3 chips and put the hurting on the competition. This is in-line with ASIC MINER's stated goal for the remainder of 2014, so we could see some fireworks soon (along with a lot of upset miners).
What's AM's power cost? Is it significantly better than the competition? |
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A must read for all those getting scammed into ethereum: http://gavintech.blogspot.com/2014/06/bit-thereum.htmlAnd for anyone who honestly believes bitcoin is being "killed" by this non-factor new altcoin, have a look at the big picture reality: All of this has happened before, all of it will happen again. And again. And again. And again until fiat no longer exists.Gavin re:etherium = "complexity is the enemy of security"... And I might add Ripple proved that complexity is the enemy of usability. Mainstream crypto and digital assets MUST BE DEAD SIMPLE... These eggheads with their Gen 2.0 projects have no clue about this. Bitcoin is a better investment right now than ANY of the Gen 2.0 nightmares.
I'm glad you at least said Gen 2.0 nightmares. I'm sure that was a stab at Ethereum, Ripple and 1.5 coins like Maidsafe / Mastercoin. If you invested today... Is BTC a better investment than Ethereum? Probably. Is BTC a better investment then Ripple? Probably Is 1 BTC in BTC better than NXT? Debatable - many people are very bullish about NXT just due to its' ecosystem. Is 1 BTC in BTC better than NEM? Definitely not. NEM is $600 per stake and can probably grow a minimum of at least 15 times. As well if BTC did go up so would all the alternates which are traded in BTC. Is 1 BTC in BTC better than NODE? Probably not. NODE may have issues but it's cheap at $300 and I myself have not had a reason to sell it. Is .1 BTC in BTC better than ORA? Probably not. ORA is only what like $40? May as well just grab one and just wait and see what happens. I view all so call gen 2 crypto as scams. |
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Anyway bitcoiners can get back at ethereum?!
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