other source? sputnik is usually crap. it's hard to believe they got 3million dollars of donations they must of been playing with bitcoins for years. maybe they were selling their drugs on SR or something... if the whole network agrees we can take their funds.. i think that would be cool to see. I think some hardcore bitcoiners would go ape shit and maybe fork off. hey that would be a good way to get rid of all the trolls |
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The funny thing is: we've all been focusing on how the halving will affect the price. But what about the hashrate? If the BTC price is still scraping along the bottom, a whole bunch of mines are going to become unprofitable in an instant.
I have seen someone bring this up on Reddit. In theory, what could happen is the block reward drops, a bunch of miners become immediately unprofitable and get switched off. Now, because the hash-power has now dropped precipitously, the rate at which blocks are mined drops hugely. This will be corrected at the next difficulty adjustment but difficulty adjustment periods are defined in terms of the block number, not date. With a 10 minute block time, the difficulty adjustment would be scheduled for about 10 days after the halving. If, say, 50% of miners stop mining, block time could increase to 20 minutes and the difficulty would adjust 20 days after the halving. The person who brought this up on Reddit was suggesting that somewhere around 88% of miners could switch off. Long block times could also be damaging to the Bitcoin price leading to even more unprofitability and even more miners switching off. And the longer and longer before the difficulty adjustment, the more miners are likely to switch off. You could argue that miners will keep mining because it's to their benefit to maintain confidence in Bitcoin but it's a prisoner's dilemma situation and it shouldn't be assumed that miners will operate as a charity. Note that not only would long block times just be bad in general, the 1MB block limit would mean that many transactions would not get processed (removing the limit would not be especially helpful if things got that bad though) Now, I'm pretty optimistic that we won't see this doomsday scenario but I have to admit that it has a fair bit of legitimacy. when the halving comes hash-power won't drop so dramatically Its not as tho the big farms aren't turning a profit... and miners only get more efficient. so there will most definitely be a lot of miners dropping out but closer to 10-25%, hashrate will drop out, and then start to climb again.... i was thinking i should maybe get into minning when the tech is kinda topping out i could buy a 2000$ minner just to heat my home in the winter.  but i wonder... using the miner to heat your home you might make the net electricity cost XX$ if you save 300$ in heating a year and it cost you 380$ in electricity ... and you gentarte 1BTC... no bad the big problem with mining profitability is staying current with the latest hardware. you'll generate 1BTC first year and 0.5 the next and then 0.25 still if the saving on heat mean you only really spent 80$ minning that 0.5BTC all year... why not. |
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Did the hashrate raise up because mining got profitable again at $300+ for some entity?
Not really, a new generation of more energy efficient machines are being released. more energy efficient === more profitable atm so yes atm its quite profitable for new machine to mine at this diff and this price. but can it even reach ROI within.... say 6 month ? I don't think that's a realistic goal anymore. Those days are gone. If you buy miners today you're looking at something between 1-2 years before roi for the whole operation. If you already have a mine with all the infrastructure and only need to replace the mining units, you're looking at closer to 6 months if you can get a decent price when you sell your old mining units. The funny thing is: we've all been focusing on how the halving will affect the price. But what about the hashrate? If the BTC price is still scraping along the bottom, a whole bunch of mines are going to become unprofitable in an instant. indeed, even with free electricity, the price of miner plus shipment plus plus... would need at least 6+ month to ROI because you need 7+ btc to buy the latest miner then the miner would yield something like 1+ btc per month. so atm its better to buy.  |
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if we don't see 320 again within 1hour we're going back to 333 this market is so predictable, how do poeple lose money on this?  |
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Beg for ...  Energy? Are you trying to frighten me with all the energy wasted by your bit coins? You don't own that energy, it has been wasted. But thanks for your gift to entropy, I suppose  i own a knowledge you lack... i own the keys to unlock the economic energy you will so desperately need to survive. you know i'm right, because you understand your power is only an illusion, while mine can be quantified in a trustless decentralized manner. |
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except bankster fiat "wealth" has no backing of value, but only debts, small but important detail, pauper. You think we're stupid enough to store our wealth in the same crap we print out of thin air for you sheeple? How does that even make sense? I mean, would you buy your own bit-coins? No. We own countries, cops, cattle, corporations... You? why, you own digital tokens which the less scrupulous of your friends conned you into buying (Remember? When they recruited you into the Cult of Moon Cow? With the nice Reverend Moo? Or did that chunk of memory get wiped?) you do not own a shit fucking thing you own the debt used to create these thing the minute the debt is valueless is the minute you loss your made up claim on these properties/assets Of course we own everything. Not only that, but we also own millions of well-trained jackbooted minions, to assert our ownership should disputes ever arise But tell me, Adam, what is it that you own, other than debt?enough power to make you beg. |
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except bankster fiat "wealth" has no backing of value, but only debts, small but important detail, pauper. You think we're stupid enough to store our wealth in the same crap we print out of thin air for you sheeple? How does that even make sense? I mean, would you buy your own bit-coins? No. We own countries, cops, cattle, corporations... You? why, you own digital tokens which the less scrupulous of your friends conned you into buying (Remember? When they recruited you into the Cult of Moon Cow? With the nice Reverend Moo? Or did that chunk of memory get wiped?) you do not own a shit fucking thing you own the debt used to create these thing the minute the debt is valueless is the minute you loss your made up claim on these properties/assets My house isn't valued in dollars only the mortgage. one day i will sell this house for 1/2 a bitcoin and pay you in dollars, as pre the terms of agreement. welcome to 2016 we're i WE the poeple say FUCK YOU AND YOUR BULLSHIT SYSTEM  |
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I think the market is full of Wanna be Manipulators quietly accumulating and trying all kinds of tricks to keep price in check as they do it.
they could feel their control slipping away so they ran the price up a level so they could stay in control.
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suddenly i had this bearish feeling come over me and i sold all my bitcoins.
see you all sub 300 suckers!
 Sometimes a whale sends a spike upwards to trigger all the stop buys before dumping the market into oblivion. Then all the poor traders who's stop buys were triggered panic dump their Bitcoins for a pittance. On the other hand we might be genuinely heading up. However that spike on stamp soon crashed back down. oh yes we've seen this before. and there it goes Fell for it hook line and sinker... Earlier today, I sold all my Bitcoins and closed my leveraged long positions, expecting a further retest of lows... All market fundamentals pointed towards a further correction...and then this happened.....and I panic bought....thankfully, only at $338 (I sold earlier at $332), but it is fucking annoying as it is yet another example of me pissing Fiat and BTC all over the floor whenever I try to be smart and beat the market. After seeing this shite, I now have to make a decision whether I want to just leave what Bitcoins I have left (the ones I haven't lost), or cut my losses, convert to Fiat, and leave Bitcoin out for good. Some whale entity has the market by the balls. He can do what he likes, and what he likes is everyone elses FIAT. Who wants to play in a market like this and if nobody wants to play in Bitcoinland, then there is no Bitcoinland. This whale does not have Bitcoin's best interests at heart...this is exactly the sort of shit that people see in Shitcoins or penny shares, and think..."gimme a fucking break, I aint touching that" I didn't actually sell my all my bitcoins... i sold a portion of the BTC profits i recently was lucky enough to make. usually i HODL with like 90% of my coins, rarely will i actually go and sell >30% of the stash and when i do it's always with the idea of buying back in, and i justify not panic buying back with 2 reasons, one holding dollars isn't the worst thing in the world, and two price is so unbelievably unpredictable there's a good change i would eventually see a profit on whatever trade, had you sold @ 390 2 years ago on during the run up, you could of panicked bought back, or you could simply have waited and bought back at a profit... strap yourself in for 5-10 years MINIMUM understand that if all goes well you won't need to ever converted to fiat... and have a trading wallet for fun, HODL it like a MOFO, and HODL your trade like a MOFO as well. your an idiot if you sell everything now and walk away and you know that. Sure this market is special, its on 24/7, some dude in Nigeria could dump 10,000BTC on stamps and buy them all back 20 mins later with 0 paper work filled out, fake walls, free for all, whale eat whale, with no government too big to fail safety net. you really think there's 1 guy pushing bitcoins buttons with 50K BTC? no way in hell, bitcoin " Bitcoin" has been declared the official future of money by pretty every bank that matters, there's at least 50 Mr Manipulators. even if BankCoin wins the war bitcoin will always be highly sought after, if for nothing else then a collectors item, and when crypto rules the world, bitcoins value is FOR SURE > then infinite fiat dollars. Buy or die. |
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Sometimes a whale sends a spike upwards to trigger all the stop buys before dumping the market into oblivion. Then all the poor traders who's stop buys were triggered panic dump their Bitcoins for a pittance. On the other hand we might be genuinely heading up. However that spike on stamp soon crashed back down.
i think var53 got the right idea |
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suddenly i had this bearish feeling come over me and i sold all my bitcoins.
see you all sub 300 suckers!
Sometimes a whale sends a spike upwards to trigger all the stop buys before dumping the market into oblivion. Then all the poor traders who's stop buys were triggered panic dump their Bitcoins for a pittance. On the other hand we might be genuinely heading up. However that spike on stamp soon crashed back down. oh yes we've seen this before. and there it goes |
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2K ask wall  |
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suddenly i had this bearish feeling come over me and i sold all my bitcoins.
see you all sub 300 suckers!
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@ "have the most to fear" 
