I think if it does crash then it'll need to go up first before that happens. This situation is not like 2018 where we kept touching $6K and went up. Back then we had positive funding and everybody assumed that BTC would be over $10K in no-time, everybody was bullish. Now its different. Funding is either flat or negative and there are way too many bears out there. I think people are assuming that $6K is the new $30K and they expect it to break and everybody wants to buy at $20K.

Since this is the most likely scenario, I don't think it will happen. A more realstic situation is BTC breaking the $42K and heading into $50K's and people getting Laser eyes again and everybody calling for $100K bitcoin and funding being positive, that's when we might top. Not right now.

I think this is just a summer slowdown like in July 2013. We will see what happens.

Did you by any chance change the thermal paste recently on that GPU? Because i'd had this issue of yours usually after changing thermal paste. It doesn't happen right away, usually a few days or weeks. I think when the GPU is old, the thermal paste is glued to the heatsink, so when you break it apart, you can damage the solder joints. And at first it might work but there can be a small micro-crack. And then the more heat cycles you go thru, that crack will keep spreading and become bigger and bigger.

And you will notice that one day, say your rig runs for 30 days straight, no issues. And then you do a fan cleaning job, and it starts up but you get stability issues for some odd reason. Then you narrow down the GPU. Put it in a regular desktop for testing and you find that when you start windows, you get a BSOD.

But you can actually get the GPU to work if you heat it up for a few minutes, and then when it starts to mine, it'll run until you shut it off again.

Right now there is just way too much chop. Best not to trade this at all. Remember Barts back from 2019? Well they are back and not only due to Bitmex this time. This is proof there is low activity and volume in the markets.

You really are better off waiting until it either breaks $40k or $30k for more than a day and trade in that direction. Keep in mind don’t use stop limit orders for this as those might get hunted.

I think this will happened for the entire month of July and possibly Aug as it’s the summer slowdown. People are on vacation and nobody wants to trade these days.

I’ve been in crypto since 2014 and pretty much lived thru 2 bear markets and let me tell you how you can spot the bottom? The bottom will be when you least expect it.

Many expected the bottom in 2018 to be $6K and they were dead wrong. The bottom was $3K when people were calling for $1K Bitcoin.

In 2015 it was even worst because the market had almost no activity back then. Hardly moved. Then one day Bitfinex breaks the $200 support goes to like $175 and that’s when people throw in the towel and it’s the lowest price I’ve ever seen.

So the low will be when you least expect it . It won’t be $30K or even $20K. That would be too easy.

This was years ago with I think the S7. I think there were a few members here who got their units and looked inside and they were full of dirt. When inquired about it, they just said its very dirty warehouse in China.

One way we could track the Bitmain sales was basically by looking at their BTC payment address, you could easily see how many units people ordered by the amount of BTC spent. I think phil used to track this back in the day. No idea if they still do it like that. Most likely each payment has a unique address these days. And many people can pay by fiat which might not be on the blockchain. So impossible to get the unit numbers. They will never release this info.

Jugdging from the OP other thread, he most likely lives in a dorm. And pretty sure most dorms DO NOT allow window air conditioners ONLY portable/floor standing AC. Sure the window AC is better because its more efficient because it uses outside air to intake the car instead of the cool air that a portable AC uses, however most apartments/condos/dorms which are in a high level, don't allow you to use a window AC due to improper installation where the AC can fall out the window and kill someone.

Happened too many times and the insurance companies ordered the condo boards to not allow tenants any window ACs. These days you can only use a window AC if you own your own home and in that case you are better off getting some cheap split AC like Mr Cool for like $2K.

Let me guess you trying and mine at a university dorm? Seems strange why you can't just put it in a different room so you can sleep in peace.

Either way. You need to get a bunch of box fans, put a fan infront of your rig, put another fan behind the rig and put it right by the window. Get another fan to intake fresh air thru a different part of the room, such as another window. And you can also get a fan mounted at the top of the room (which has the hottest air) and exhaust that out also.

The GPUs will be fine with this setup, however you will not. Hope you don;t sleep in this room. Especially in the Summer.

I think unless you point your AC straight onto your rig, there won't be any water vapor going directly on your cards. Also even if there is some water vapor, as long as the rig is running the high heat will make the vapor evaporate anyways. This is similar to mining in the dead of winter. You can mine when its extremely cold and as long as your rigs are running. But if your rigs turn off for some reason, there will be condensation and frost which can damage some components.

However I agree with what the above posters have said, don't use an AC to cool your rigs. AC are generally more for human cooling, not computer equipment. GPUs can run hot. Just use a few fans and direct the heat out the window and direct cold air inside your place somehow. This is how most miners do it. No point in using AC.

Bitcoins first recession was during the covid stock market crash of March 2020. People were assuming that everybody would sell stocks and all their possessions for Bitcoin and the reverse happened. Basically for a long time Bitcoin was highly correlated with stock indices.

So Dow Jones goes down.... Bitcoin follows.
Dow Jones goes up... Bitcoin follows.

So if there is another recession, most likely the same will follow suite. Everybody will want to be in cash. So if it happens stocks will drop, and Bitcoin will follow.

Will there be a recession? Very hard to say since the last one happened about a year ago. Seems too close however the markets always have surprises.

Yeah usually what happens is we see some huge hashrate all of a sudden and then months later some state of the art ASIC is released by some manufacturer. So they are definately mining with it for a while and then release it for sales. In the past many of their "new' miners came with dust found on the heatsinks. They said its due to the dirty areas they are located in or the factory being messy but they probably mined with them.

So you can assume that they are mining right now with them and later will sell them so the difficulty shouldn't change by much however keep in mind they can still produce more of these units and there can be some other ASIC manufacture that can come out with a similar spec for Scrypt. So difficulty is very difficult to predict. No pun intended.

Its like that in every market. Look at how many people are getting rich of the stock market. Look at how many kids bought stock options for Gamespot and AMC and made 6-7 figures easily. Same with the people who bought Dogecoin at like 5 cents and rode it all the way to $0.72 making crazy amounts of money.

Every market is like this and this is why I am getting cautious about the future. What is the last thing on peoples minds right now is another recession however the way things are going we might be in one in the next 6-12 months or so.

Correct me if I am wrong but from what I can remember. None of the major ETH upgrades actually had a major effect on price. Most of the price advances happened months before the actual fork. So I don't think anything major will come of this. Unless perhaps some bug is found last minute and it creates panic because of a potential unintertional fork.

The fact that its been delayed does not surprise me. I remember there was some upgrade in the past, where a dev discovered some "minor" bug last minute and all the exchanges and pools had to revert to the old software.

Either way, I think the fork will go smoothly without any issues.

BNB just like BTC is pretty much in a range and you play the range until it breaks out one way or the other. The top of the range is the prior low which is $430 and bottom is $222. You can plot BNBUSDT and you can see that its very easy to trade this on the large D1 timeframes. However if you are trying to scalp it, it might be difficult due to chop.

Currently looks like $230 held, and now its in the mid range, so it can go either way. So not worth taking any trades. If it goes back to $430 try and short, and if it goes back to $222 try and long. If it breaksout, then reverse the trade. I am pretty sure BTC will also be at the range high and low when BNB is breaking downwards or upwards.

Is there any future potential of a higher price than ATH? Well depends on COIN in my opinion. Its been falling ever since it was launched on NASDAQ. If it recovers then I see potential for BNB and FTX tokens.

You know the saying, if its too good to be true, it usually is.

Now if the arbitrage was something like 1%, then I would think its legit. But this huge spread means that something isn't right. You don't even need to investigate that there are withdraw issues with the exchange.

I remember years ago when MtGox went down, there was crazy arb opportunites but nobody wanted to take it because they could go bust, which they did. Same years later with the Cryptsty exchange. Many coins had huge arb opportunites because many of the wallets were offline and you couldn't withdraw certain coins.

So if you see some huge spread like this, use your head and realise that something isn't making sense and there is a reason why.

If you are mining in a room with an air conditioner then I wouldn't worry ever about them overheating. Especially with only 5 GPUs. You need to consider the fact that gamers pretty much ABUSE their gpus and nothing happens, that's what the thermal shutdown programmed in the bios is for. If any GPU goes over a certain temp like 100C, there is a signal sent to the motherboard and it sends a shutdown to the computer. They do this because even if a GPU is idling, its possible a fan can die and it'll eventually reach a huge temperature and need to be shutdown.

Gamers keep their GPUs inside an enclosed case usually with poor cooling and they OVERCLOCK their GPUs. And what is worse they usually have SLI type setup where one GPU barely gets any air circulation and the GPUs are fine. They are built to handle extreme heat in those situations. So you shouldn't worry about your open air rig with an AC in the room.

This decrease that happened recently is unlike the hashrate decreases in the past bear markets. Those difficulty decreases was usually followed months AFTER the marked topped and people mining at home with expensive power just shut off their rigs. What happened recently is different. China has taken action and banned mining and this is why the difficulty is dropping. I won't say this is like in the past where this happened months after we topped.

The issue here is. If a large mining farm needs to ship their miners to another location, there is a shipping fee. Then they need to relocate or hire personnel which might cost more than in China, there are wages. And there is also the cost of electricity which might cost more than what it cost in China. So if mining is going to be more expensive in say USA rather than China, then miners will have no choice but to sell more BTC to keep their operation running, this would actually indicate that hashrate lags price. However the market cap is so large at the moment that it really shouldn't affect the price too much.

mining income reducing with time is not true.

Your mining income can reduce, stay the same or increase.

Generally, historically the difficulty has been known to increase. Difficulty is basically what keeps the supply capped. So if on Monday there are 100 people mining a coin and the total reward is 100 coins, then each person gets 1 coin on Monday (assuming hashrate is the same for each person). Now if on Tuesday there are 200 people mining a coin, the reward is still capped, so each person would get 0.5 coin on Tuesday. With bitcoin and ethereum this is generally true. Many reason for this. One of them is more efficient hardware as technology improves.

So will you income go down? Well it might ONLY if ETH price stays the same. If the price goes up, you might make more. If it goes down, then its a double wammy and you lose even more income, sometimes exponentially.

What people need to understand that it doesn't matter what price an asset is. Say you take a large company like Apple. And say there are only 10 shares and each share costs $1B. That has a total market cap of $10B, so $1B is cheap for 1 share.

Now how about if there are 100 shares but each share is $100M each, sure its cheaper but its still the same market cap and Bitcoin is pretty much the same thing. There can only be max 21 million worth of BTC and there is a good chance that with all the lost coins that in reality no more than 19 million or so will ever exchange hands in the future. Unless there is some exploit to crack private keys which sounds very unlikely in the near future.

So don't look at the price of BTC or assets look at the market cap as a total.

The market is failing to either break $30K or $40K because there is no volume these days. Plot the daily chart and compare. Each week less and less volume. There are people who are trying to trade these ranges and are getting liquidated and leaving the crypto markets all together.

Look at the amount of activity with ETH transactions. I can send a transaction with a 2-3 Gwei and it would confirm right away. Remember how high it was before. You needed to be really lucky to get a transaction to confirm for 100Gwei when most of the time it was >200 Gwei or so. It’s the summer slowdown. We might get some traction in the fall.

You need to understand that if we are in a true bear market then no amount of good news will make Bitcoin go up. Same is true if we are in a bull market that no amount of bad news will make us go down. This is how most of 2014-2015 and 2018 played out. We got good news but price didn’t go up, either went down or traded sideways.

The issue now is mostly the way Bitcoin is mined. And if Tesla is fine with the clean energy mining Bitcoin and accepts it again for their cars? Do you think Bitcoin will go up again? Probably not. Might have a small rally and that’s it.