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All these FED news stories are juicy!!
Everyone loses faith in the banking system in 3....2....
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Price manipulation may be going on, but the price of a bitcoin is still high compared to the cost of mining it. When the hashrate curve flattens out again (as it has before), or at least when the "cost of mining a bitcoin" flattens out near (but less than) a bitcoin, we will have a correct bitcoin price. This will happen either if the bitcoin price goes low enough or the hash rate goes high enough. Since the current hash rate is still going up, we don't have a low enough bitcoin price yet.
Have you got any idea how much it costs to mine 1 BTC currently? No, but he likes to open his mouth anyway to sound like hes smart. Too bad, the dumbest usually sound the loudest. Way to say that nice and loud there. The principle that bitcoin mining cost should determine the price of bitcoin was given by Satoshi in the white paper, and is reiterated many times in the early posts on this forum. Here's Hal Finney in 2010: One reason price might follow difficulty is that mining should not be too profitable (because nothing should be too profitable, the world doesn't leave free money lying around). Therefore the price of Bitcoins can't rise too much above the cost of mining (counting equipment depreciation among the costs of course). The cost of mining is proportional to the difficulty (approximately). Therefore we might expect to see price proportional to difficulty.
Totally agree. I set my "long term" buys at fixed rate above mining costs. I doubt the cost of Bitcoin will cross below the price of mining, but it might come close. Depending on hardware and electricity costs miners are still profiting 20-30%. Once the price gets low enough or the difficulty high enough "manipulation" will stop and hoarding will increase, causing the price to go up due to no selling pressure. |
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Am I a bear if I want the price to suddenly drop to $300 and then immediately moon?
I just want more coins and more adoption at the same time.
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If you do not have the means to buy the coins, mining isn't that bad profit wise.
If you wanted to just play around with it, just get one of the usb mining sticks like the antminer u1 or u2. It wont generate much, but they are fairly cheap. You could get a good return if the price goes up!
Look for miners on ebay
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Will someone help OP create HugCoin already?
This thread is awesome
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Maybe I should set up a bot that creates a new address every second, and send a small amount to it so it shows up on the blockchain. Then have the bot send from that address to a new one 1 second later. Rack up a million satoshis lol
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Make sure you have 2 factor authorization turned on. It will send you a text with a code when logging in. Also set a different, better password for the ability to send bitcoins out of the wallet. All of this can be found in the settings on the site.
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1363 is like..... pennies.
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Invested miners will make sure bitcoin remains the dominant crypto, unless their miners can mine the new crypto. If that is the case there is no benefit in the new crypto.
About the no more bubbles... the ETF alone will cause a bubble.
How correct is your mother on her psychic thoughts? If she was right a majority of the time you would be so rich as to not even have to worry about bitcoin, and probably wouldn't bat an eye at it.
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Sell bot activated. Might get a chance to buy coins under 400 I hope.
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You are all over-analyzing the situation. Bitstamp exercises the most influence over the price. The price is going down because very little new fiat is entering Stamp. Look at the declining Bid Sum over the past 6 months: http://coinorama.net/Alternative explanations, including that most of the new fiat is sitting off the order book, are speculative and wishful thinking.the spike to 450 doesn't agree with that. Yes it did. Off book buyers faded quickly and the total bid sum remained anemic. Face it, there is not much ammo off book. I have fiat on 3 exchanges, 1/4 of it is low ball orders, the other half is off the books. There might be way more ammo off book than you think. Just sayin... Where did the other quarter go?   Lol. I meant 1/2 |
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Anyone else in here use Circle?
I've never experienced a better way to buy bitcoins. So easy my grandma can do it.
I requested my invite May 27, 2014... and I have been waiting ever since... waiting , waiting and waiting.... In the end of july, sent them an e-mail requesting a status update, and they said dont call us, we will call you. lol, they slap you in your face by calling don't call us, if you deserve we will call you. I wonder how they chose invitees. I just checked my email and I requested an invite on May 18th, and I got approved about 10 days ago. I guess they are doing so many a day? I also got my invite about 10 days ago. I like it but it is not amazing. I would like something that mimics QT. You want to use it as a wallet? I just use it to buy. |
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You are all over-analyzing the situation. Bitstamp exercises the most influence over the price. The price is going down because very little new fiat is entering Stamp. Look at the declining Bid Sum over the past 6 months: http://coinorama.net/Alternative explanations, including that most of the new fiat is sitting off the order book, are speculative and wishful thinking.the spike to 450 doesn't agree with that. Yes it did. Off book buyers faded quickly and the total bid sum remained anemic. Face it, there is not much ammo off book. I have fiat on 3 exchanges, 1/2 of it is low ball orders, the other half is off the books. There might be way more ammo off book than you think. Just sayin... |
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Anyone else in here use Circle?
I've never experienced a better way to buy bitcoins. So easy my grandma can do it.
I requested my invite May 27, 2014... and I have been waiting ever since... waiting , waiting and waiting.... In the end of july, sent them an e-mail requesting a status update, and they said dont call us, we will call you. lol, they slap you in your face by calling don't call us, if you deserve we will call you. I wonder how they chose invitees. I just checked my email and I requested an invite on May 18th, and I got approved about 10 days ago. I guess they are doing so many a day? |
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Anyone else in here use Circle?
I've never experienced a better way to buy bitcoins. So easy my grandma can do it.
note to self never do anything shady* with "hyphymikey's" bitcoins, they have been tied to his identity.  ps. remember to declare all the capital gains on those coins they in the IRS ledger. * shady here in Canada - or at lease British Columbia is buying something at a garage sale, or lemonade from a kids lemonade stand and not self assessing the tax and sending it to the government. You are also expected to self asses the value of gifts from out of Provence calculate the tax (PST) and send a cheque to the government for there share. failure to do so is against the law and tax evasion. The truth is we are all evading tax in BC Canada, just now if you can track the money and put an identity to it you can technically collect it. I'm sure other parts of the free world have laws just as asinine. so just think about how you get your bitcoin. I have an LLC set up just for my bitcoin holdings. I'm not into bitcoin for tax evasion. I will hold them for at least a year so I pay little or no taxes anyways... I think. I'll figure that out next year. |
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Anyone else in here use Circle?
I've never experienced a better way to buy bitcoins. So easy my grandma can do it.
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Lots of idiots in here. You should have just kept your thoughts to yourself OP, these people are smart enough to understand and no matter what you say will convince them otherwise. Let them lose money, and pass on the opportunity of a lifetime. It is not our job to make these people wealthy.
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Last chance to sell under $450. For all the traders that have been buying high and selling low, this is your last chance to loose money and give the rest of us cheap coins.
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Paypal news = normal people finally realizing it's not a ponzi or related to terrorism*.
HUGE
'Normal people' think PayPal is a ponzi or related to terrorism. Go into an Enterprise Car Rental center, and ask about paying with/accepting PayPal. Let alone any other internet ePayments service provider. See what looks you get. LOL!! To me there's no difference between these two^ - both equally ridiculous xD The day I cash out my BTC i will look like this :  [..] Fattie or Fattie-Wannabe, when you're rich and have all the means to be healthy..? That's terrible  Yes, all aboard once more when we revisit that nice round $400 level again. Just...... LEAVE |
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