Already did, war of attrition.  Miners will not mine at a loss forever.  They just tank the price on exchanges and then miners either immediately turn off their machines or do a few weeks later.  If you look at things like litecoin hash rate vs price lately, these Chinese are turning on and off machines almost immediately as price fluctuates.  

Once they tank the price on exchanges either with real coins or synthetic derivatives, even if cost of production of a coin was once $10,000, there is no reason to pay that anymore since you can mine a never ending stream of coins as transaction fees for however low they want to tank the cost of production to.  It doesn't take a rocket scientist to figure out that bitcoin has no price floor, does not function as a store of value, and is much easier to destroy by financial manipulation than gold or silver are.

They play Keynesianism in the commodities market and naked short metals down trying to cap them at like 5-10% above cost of production.  This means they're usually a good buy in general since you're getting them practically at cost, with the price being almost entirely a derivative of oil.  Oil EROI is currently collapsing, which will soon collapse the ability to manipulate metals.

As for bitcoin, bitcoin cost of production is floating - recursive based on it's own demand.  Bankers don't naked short metals below cost of production because it's counterintuitive and would create enormous scarcity.  It would also bankrupt miners, creating even more scarcity, so they try to rig it right above production cost.  

However, if bankers ever want to naked short bitcoin, it's VERY productive since they can easily play a war of attrition and literally delete any price floor which they cannot do in metals.  Metals actually have a cost of production price floor and bitcoin doesn't.  They can drag the bitcoin cost of production floor down from $10,000 each all the way to $1 if they want to.  That's something you can never do in metals.  The only thing that could stop them from doing so in bitcoin is if it became the unit of account of something, but since like I said, it doesn't function as a store of value having no price floor, it's unlikely to happen when better alternatives like metals exist that actually can function as a store of value.


Weight is irrelevant in current state.  It just means you will make more money when the GSR collapses closer to historical levels (15:1) when their Comex rigging blows up.  It's like claiming, "o god, buying 100 pounds of gold is too heavy for $10 an ounce".  No, nothing is too heavy if you get a good deal on it.

Looks like Marcus is hallucinating after being exposed to a little too much digital rat poison.  For every dollar bankers spend trying to supress the price of gold and silver, an equal amount of money is spent trying to prop the bitcoin bubble up.  The same people are fully capable of raising or crashing both assets, yet they allow bitcoin to rise while trying to crash the other and allowing all the sheeple to pile into this one.  Yea, that's not fishy at all!  It's blatantly obvious the R3 group of bankers props up the Ethereum scamcoin on Poloniex too.  They don't even try to hide it.  

Stop pretending 'designed to centralize' bitcoin is somehow "defeating" the bankers.  The only way you're beating the bankers is by dumping this imaginary bubble asset that doesn't function as a store of value and purchasing what they don't want you to buy - gold or silver.  They're desperately trying to ban cash and force people into a digital only slave system, so cryptocurrency is just subsidizing your own eventual enslavement with how easy it is for them to co-opt bitcoin.

The market moves wherever there is a large long or short for the exchange owners to front run their clients and squeeze.  If Cliff High wants the price to go up, he better take out a large short.

English?  Do you speak it?

I've never once heard this phrase before!  Only in bitcoin is it considered good no matter if the price goes up or down...

LOL What a load of shit.  You just typed a few pages ago how you spammed this forum with "bear trolling" under alternate usernames fucking with everyone trying to get them to dump in the past.  Now you're caught on the wrong side of the trade and don't want anyone saying the price might go down.  This head and shoulders collapse was so obvious whoever got caught in it shouldn't be trading in the first place.  I even posted it here for you all to see.  

And no, bitcoin is not better than gold and silver.  Gold and silver are money and everything else is credit.  Bitcoins are imaginary coupons you hope someone else will service in exchange for goods and services at a future date.  This makes them unsecured liabilities.  With a real commodity currency like gold and silver, it doesn't matter if you can find nobody to service your coins, you still have the actual  coins themselves which have usage in industry and other things, meaning you're never left holding the bag because there's always some type of use for them (especially silver).

Antonopolous propaganda claiming bitcoin is better than metals doesn't actually work against people who know anything about economics.

Or the govt creating a federated chain to enslave you with a cashless society slave system, pick one.

It's called...The Bell Curve...

https://en.wikipedia.org/wiki/The_Bell_Curve

And:

https://en.wikipedia.org/wiki/Mainstream_Science_on_Intelligence

There's a saying/principle that two people with more than a 20 IQ difference are unable to communicate on any meaningful level.  It applies to things like marriage, but in building a civilization as well.  If two different groups lived apart and mud huts were the only thing one group could build while the other could build space stations, they aren't going to integrate.  In Australia they have Aboriginals which are literally modern day cavemen.  Their govt has bent over backwards to try and integrate them into society, but they have the lowest IQ on the planet (something like 60-70), so it always fails miserably.

Anyone notice this thread has 1/10th the traffic of past rises and dumps?  I think this is a sign of the fact that there's no reason for cryptocurrency to exist unless you can create an ASIC proof algo where coins can be mined on commodity hardware, or constantly change the algo to defeat them.  Without doing that, the draught of new people coming in signals the date of ASIC creation as the start of the coin's eventual death.  If this thread is any indicator of the system at large, Bitcoin is like a brown dwarf star running on fuel from a prior era.  

The only thing keeping it going at all is that some PoW altcoins are used as proxies for new people to occasionally enter.  Those altcoins are generally only profitable to mine during bull runs, so it also has the side effect of making bubbles larger and bear markets even more bearish.  This phenomenon is why you always see proof of stake coins wither and die like clockwork as well.

Market is almost entirely controlled by one entity (Bitmain).  Whenever the price plummets to key resistance points, a single market rigger puts up a $2 million wall to try and block it from going lower.  Coincidence?  I'm just amazed people are trying so hard to prop up this bubble.  There was plenty of warning and time to sell, so it seems like the only people who would put forth so much effort to prop it up are the Chinese mining cartel.

The bloodbath has not even begun for Ethbutters.

Eth is useless.  If proof of stake was viable or had any value, bitcoin would already be using it.  Vitalik created Eth and just pretended he would fix PoS later, but there is no fix.  He never believed bitcoin had any value when he first heard of it.  He doesn't really believe eth has value either, but that didn't stop him from creating a 30 billion dollar Ponzi scheme:

The seasonal market of metals means late June to early July is usually the low/best buy in point of the year, then it turns bull market right at the start of August.  That Cliff High guy claimed silver would explode in August due to his web bot nonsense powers, but I coulda told you it would probably rise in August just because that's it's historical nature.  The banks know they have to cover shorts before it gets to that point, and there's been an enormous amount of open interest, so it probably will explode upward in the near future.

I haven't really commented on bitcoin price forecast lately.  My last real bitcoin price comment was this and that it was a buy then:

https://steemit.com/money/@r0achtheunsavory/bitcoin-market-in-one-picture-without-commentary



I've spent a lot of time studying Chinese traders.  They're pretty damn easy to predict.  It's kind of like the real world:  high efficiency, no originality.  They will also set money on fire for no reason solely to try and trick people even when it serves no purpose whatsoever because their moves will be too obvious to fool anyone.  They still go through the motions anyway as if they're reading from a checklist titled "how to scam people".

Don't say the r0ach report didn't warn you.  When there's no upside left in anything, it's time to take the elevator down:

http://steemit.com/cryptocurrency/@r0achtheunsavory/the-r0ach-report-15-the-current-cryptocurrency-dotcom-bubble-will-it-play-crysis

I'm running through the house looking under every couch cushion praying:  holy shit, I hope there's not any bitcoin under here I forgot to dump.

Nice "the price will exponentially increase forever for no reason and everyone will pay $10,000 transaction fees" chart.  If every millionaire on earth hedged 1% of their money in bitcoin the price would be $7800 each with a fully liquid market (so more like $70,000/ea in distorted normal market metrics with non-liquid market cap).  This situation is not actually possible with anything less than probably 50+ TPS though (compared to 3 TPS now).  

I don't think creating a decentralized lightning network is even possible because you'd need to put all channel closings in a centralized que, or risk black swans blowing up the system (or permanent attack vector), so lightning network doesn't really satisfy this scaling requirement.  Payment channels are useful, but mostly for bank-like entities doing constant transfers back and forth, just not for smaller end user people (where the TPS increase is actually needed).  Payment channels would take some burden off the chain, but it's not a real substitute for the on-chain scaling.

So no, I don't see bitcoin going to the moon at 3 TPS or 3 TPS + payment channels.  The transaction fees have skyrocketed between $2-10 already, which puts up a big roadblock to further price appreciation, and I don't really see a valid scaling solution to fix it.  Also taking into account PoW is designed to centralize into a monopoly in the first place (and proof of stake is useless), so bitcoin really needs massive overhauls on almost every level before it can even be claimed to be decentralized or scale to be useful to the world at large.