Good morning Bitcoinland.
I see we had our "big" correction/profit taking, all the way down to where we were earlier this morning... $958USD at Bitcoinaverage.
How long will the consolidation last before the next leg up? My guess is tonight.
IMO the consolidation looks pretty complete on the upper side, and looks like it will break up in the next 3hrs. only way to prolong that is if it dips to ~$956 and takes a few more hours to bounce around.my bet is we see $1060USD by the new year (but im too pussy to risk margin trading that hope) as the whales make the short sellers panic in the final days of the year. the drama is multiplied by the fact that most financial markets are closed so many days this week, and traders only have bitcoin to focus on well, step 1 complete. we have new high at $973 and the beartrap looks to be finished. $1000 sometime tomorrow? |
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at the current price, its about the same cost as building a 7-8 gpu rig yourself (which has good resale value)
in exchange for a bit better efficiency/simplicity, you end up with GPUs that are nearly impossible to resell
these units would be good in a cheap power spot that sound is not an issue. They also would be good if the spot is small. I would love to get one to fully test and demo to see if it has more practical uses. true, they are more for a mass deployment, rather than hobby mining (where gpu reuse or resale is expected, and assembly time is part of the 'fun') |
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Good morning Bitcoinland.
I see we had our "big" correction/profit taking, all the way down to where we were earlier this morning... $958USD at Bitcoinaverage.
How long will the consolidation last before the next leg up? My guess is tonight.
IMO the consolidation looks pretty complete on the upper side, and looks like it will break up in the next 3hrs. only way to prolong that is if it dips to ~$956 and takes a few more hours to bounce around. my bet is we see $1060USD by the new year (but im too pussy to risk margin trading that hope) as the whales make the short sellers panic in the final days of the year. the drama is multiplied by the fact that most financial markets are closed so many days this week, and traders only have bitcoin to focus on |
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at the current price, its about the same cost as building a 7-8 gpu rig yourself (which has good resale value)
in exchange for a bit better efficiency/simplicity, you end up with GPUs that are nearly impossible to resell
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I will admit that I am quite surprised by our current state of bitcoin.. because if you look back at my posts, I was continuing to say that I expected a pretty decent probabilistic chance of a price correction sometime after lower $600s either before reaching the mid $800s or even more probabilistically before reaching $900... and I will admit that I have been proven wrong, or at least BTC prices went into an area that I considered to be less probabilistic (more bullish).
I also said on several occasions, once we pass mid to upper $800s, that we are likely to go straight (more or less) into the $3k to $5k price territory. Since we got from lower $600 to lower $900s without any meaningful correction, I am now thinking that it is going to be a bit more difficult to get into the $3k to $5k price territory without a meaningful price correction. I am going to have to revise my thinking.. so at this time, I am thinking maybe tentatively that if we do not get a meaningful correction before passing old ATH ($1163), then probably our top for this run would be in the $1,900 to $3,500 arena)..
bitcoin doesnt like to do any serious retraces when its in bull mode. IMO, crossing $940-960 this week would lead to an ATH, and perhaps a peak of 1300-2600. Its pretty bullish, and im not doing any leverage (just HODL), but i dont expect it to peak beyond $2600 (in this rally), and a rally to those levels would probably crash back down to the 900-1200 range for many more months of recovery and profit taking im trying not to go full bull and leverage my holdings - weve seen in the past that it doesnt take much to make it rally or crash irrationally at the drop of a hat (or attack of the bearwhale) |
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I keep thinking about transferring a chunk of my retirement funds into Bitcoin. Would be a good investment, especially with the recent currency manipulation being done by govts.
Your retirement funds are in fiat? The very first coins I bought for $68 back in early 2013 were bought specifically as a retirement fund, or rather as a nest egg for my old age as I was already mostly retired. I was 64 years old at the time and had no real retirement funds per se. This is why I accumulate and spend only when absolutely necessary. Keeping your retirement funds in ever-devaluing fiat is silly. Overall, Bitcoin has increased in spending power while the value of fiat has dwindled. the trick is the $ retirement accounts are best used to invest in the stock market. basic intelligent investing will have a better return (3-7%) than the rate of inflation (2-3%) |
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Dips being aggressively accumulated. Have a feeling the weekly wants to close under 920, so that's a hard trailing stop for anyone doing one of those greedy scalps. I highly doubt next week's lower wick will be in this week's candle much, so buy any dip and get ready to break $1000.
You mean $1,000 will be broke before the new year ? i think $1000 will come within 24hrs of it crossing $940. but its hard to predict how long it takes to move past the current 880-920 range. maybe 3-4 days, maybe we sit here for a week or two Let the bulls take their breathe, but I really would like to see $1,000 broken before the new year, we still have one week to go. i want to say that the realistic next step is a 50% retrace, to ~$820, followed by months of consolidation. But, i think crossing $900 was too significant a milestone, and likely the start of a 2013-esque bullrun that could go up into the $1400-2200 range within a month or two Ive learned to just keep clear of leveraged trading though, and am hodling the majority of my coins for a longer duration |
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Well,when you are NOT a forum moderator but act like one over & over & over & over & over...........  Jesus christ would you get over it? It was f'ing MONTHS ago and I said something like twice, and a moderator supported what I said. Do you know why? Because I was right. Go bang your head against a wall or something. I've ignored you now, tired of your harrassment. right about the mining rigs? yeah, technically an altcoin rig isnt mining bitcoin. but whoopdedoo. This thread was born because of gpu setups that then became asic setups. and now, asic setups are either <5 miners or >50 miners in the majority of situations, and somewhat boring to look at unless theres creative wiring or ventilation. I strongly support any mining rig of any [crypto]currency posted here. as long as noone is posting oil derricks, I think were on the right track |
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Dips being aggressively accumulated. Have a feeling the weekly wants to close under 920, so that's a hard trailing stop for anyone doing one of those greedy scalps. I highly doubt next week's lower wick will be in this week's candle much, so buy any dip and get ready to break $1000.
You mean $1,000 will be broke before the new year ? i think $1000 will come within 24hrs of it crossing $940. but its hard to predict how long it takes to move past the current 880-920 range. maybe 3-4 days, maybe we sit here for a week or two |
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i see it bouncing between $880-925 for a few days, before blowing past the $1000 mark to burn all the shorters hard again
falling under $850 could put the rally on hold for a few months of slow growth again
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Klondike,
Are the 6 pin to dual 8 pins back in stock yet?
sorry, unfortunately not. i haven't had much demand for them lately, and it doesn't make a lot of sense to reorder unless im getting >200pcs for everyone else, i still have some 6pin-6pin splitters and loads of 6pin leads (and pcie-pcie) |
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How much is obtained on 470 with modded bios?
around 215-225 depending on your exact settings |
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i haven't used the 20A breakers in that pic, why? i know the THHN AWG # 12 limits, only plugged 2 pcs 2500 watts rating surge protected extension wires per outlet.....and i'm the only person going inside the mining room...nobody is going inside the room and plug some stuff that will overload the THHN #12 (the surge protected 2500w rating extension wire trips if overloaded btw)  be careful - just because you are not loading >20A on the circuit doesnt mean you dont need a breaker. if the equipment fails/shorts it could draw a lot of amperage (presumably up to the 70A to trip your main breaker) for a few seconds until the wires fail, and a fire could start. but in a more general sense, i agree with your logic that you are engineering the load distibution based on your custom electrical layout, and its extremely unlikely you would accidentally overload anything (unless theres a component failure) |
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sent a PM. I have some pristine gold/silver 2013 coins that are direct from Mike Caldwell (including PGP chain of custody), and immediately moved to [ungraded] airtites using nitrile lab gloves.
Can offer a choice between a few coins, looking 2.5BTC
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whattomine says 19KH of cryptonight should be ~$29/day, surely that isnt correct?
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Not ignoring you, kids are crazy.....thinking about what I am willing to do. It's intended as a gift for a family member's retirement...hard to rationalize making an offer you can't resist when it isn't for me to keep.
https://bitcointalk.org/index.php?topic=1706465.msg17099373#msg17099373watch out with str4wm4n , hes accused of faking a sale of a bearer bar in the past |
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If 470/ 1070 turns to negative yet another crypto has failed.
LBRY, L2R2, eqm, and dagger are all providing $0.80-1.00/day/card after power costs. any single crypto falling wont have a huge impact at this point not great, but Ive already made about 75% of the 1070 card price back since i bought them for LBRY. even at $1/day they will be in the green by springtime/summer |
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some good responses on here.
figured id address the "go with a 5-6gpu capable mobo" first - ive done that, and IMO its the way to go for management reasons. however, it usually needs a $80 mobo and $60 CPU. This *might* handle 3gpus for about half the cost
additionally, not everyone wants or can afford 6gpu, or has other reasons not to (such as having some 2xx cards that wont mix with the 4xx series).
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I bought two of these bars for ~1BTC/ea back about 1-2 years ago. (~$350).
I imagine today they are still worth 0.8-1.5BTC unfunded, cosidering the comparable silver/gilt coins fetch 1-1.5BTC premium.
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That's too expensive for a 3 GPU board, i got a nice 6 GPU board for $50 USD. It's an FM2 board by Asrock, don't know the exact model, but i got it on ebay. WITH a cpu already onboard? |
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