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Nobody should give any attention to this, this is only an unofficial proposition from a guy who isn't a leader in his party.
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Actually, it's pretty good. It means the banks see BTC as something real and serious.
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No, please far from it. I could live without BTC but I couldn't live without cash. I'm a strong BTC supporter but I see it as a way to replace credit cards, not cash.
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The best part is that unlike BTC, the Swiss franc is expected to remain its value. It won't go down next month.
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In a perfect market, price is a good indicator, but BTC's market is twisted. The market will become clearer to read with the number of users increasing. Today, a few people can bring it down or up.
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i want to know if anyone can answer a few questions with complete details please?
What the value of Bitcoin is going down?
When would it be back up?
Would it ever goes about up like 2012 at $1,000?
What's really going on with bitcoin?
You may try reading tarot cards. You won't get any better answer. |
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If you're accusing an exchange of wrongdoing, please name it.
Actually, I guess an exchange could do it not to manipulate the price of BTC but simply to look bigger.
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Your bank doesn't need to know you're doing anything with BTC. I haven't told mine, and they'll never find out.
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I suggest anyone reading this topic sells all his BTC as fast as possible to get the price even lower.
I won't sell mine, though.
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Being nearly anonymous is of course a plus, but the best point is that it's not related to any country or government. If you don't want to support any, there's just no other choice.
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The same thing happened with the Swiss franc yesterday. If you had bought $1,000 worth of francs on Wednesday, the amount of francs you have hasn't changed, but they're now worth about $1,150 .
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Who says miners are losing money? Any proof of that? Once they've bought their ASICs, electricity's cost is very low. They are making less money, that's right, but there's no sign any miner is actually losing money from its daily operation.
Because of the low BTC price and high difficulty, most miners spend at least half of their revenue on electricity. The most efficient miners on the market are ~.5W/GH, so a 1 TH/s miner would use ~500W and earn ~$60/month at current difficulty and a BTC price of ~$180. That .5W/GH miner would still use ~$37 (@10 cents/kwh) in electricity per month to earn $60. Most miners are not running the most efficient hardware on the market, and many have costs that exceed 10 cents/kwh. I have no doubt that a very high percentage of the mining market is in the red right now (probably between 25-50% of the network hashrate). The economics of mining are terrible right now, so either miners will quit and the difficulty will go down (as it should given the low BTC price), or the price of bitcoin needs to go up. Note: I ran a 30TH mining farm between April and August of this year, so I know what I'm talking about... So you stopped mining when BTC fell below $500? Quite surprising. Especially considering that you made quite an investment to get 30TH. My mining experience is very limited. I tried it in early 2013, with my own home computer, which wasn't up to the task, so I stopped quickly. Now, there's a difference between not making any money, and actually losing money. How long's the return on investment when buying an ASIC? After that tipping point, the only cost is electricity, and BTC's price is still above that, I believe. |
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My first modem was a 28.8 so I'm definitely among the older guys here, but the analogy isn't always right as the Internet has always been going faster and stronger. The Internet didn't have some sudden 20% drop like BTC had yesterday. The worse if that nobody can explain what happened.
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Who says miners are losing money? Any proof of that? Once they've bought their ASICs, electricity's cost is very low. They are making less money, that's right, but there's no sign any miner is actually losing money from its daily operation.
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Let's not get confused with the cost and revenue of mining. The revenue's going down with the price of bitcoin, while production's cost don't change much, but besides a miner, nobody knows how often they do need to sell some of their production to cover costs. Once a month? Once a week or once a quarter? You've got to be a big fish to be a miner. A single guy with a strong computer cannot be a miner anymore, and today's miners are the biggest holders after the early investors.
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The poor little miner is long gone, my friend. You need a seriously strong computer to get in this business, and the people who did are cold blooded. I don't see any sign of panic coming from them.
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We need to stop the miner hemorrage. But how the hell? We Need miners for this thing to work, but if the price keeps going down we are fucked. Satoshi didn't predict this happening? I wonder what are his views as we speak.
There's no "miner hemorrhage" so far. The network is holding well. A few miners may eventually switch off their computers for a while, but that's not enough to endanger the whole network. |
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I'm very calm and I hold my few BTC. I'm still far from losing money, but what worries me more is that I don't understand anything. When I look at stocks, most often I understand why the market goes up or down, but I fail to get what's going on with BTC these days.
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I hold because BTC has been a good investment so far.
I have no regrets not selling when BTC was above $1,000, and I'm confident it can go back to this level, but I would lie if I told you I wasn't worried. THis is a very sharp fall, and I fail to understand it.
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Actually, we're all early adopters. When the US dollar was invented, it was still seen as new 10 years after its launch.
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