what I really meant is: since the amount of new mined coins per day is something between 3000 and 5000 (*), do you really think this little volume will be so influential in moving down the price?
3000 coins is not dumped on the exchanges daily. Large parts (most?) of the coinbase is hoarded or sold in private. Also please note that even if we can have short periods of more inflation due to the stepwise increase of the difficulty factor, it will be corrected. we're in violent agreement. |
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If anyone wants to fire a unit my way to do a teardown setup guide then let me know.
I usually train my dogs not to beg  I missed the part including the begging. I can't take 100mp+ chip photos without a unit - I'm not magic. then buy one  (sorry can't resist) |
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And, if it's not that, it's all of the new corporate mines that have popped up. Generally, IMO, they're not interested in Bitcoin other than to load up on fiat, and since these operations are huge they're taking most of the newly mined coins and dumping them on the market for fiat. In years past, the mining base was much more spread out and mining participants, on average, were more intereseted in building BTC reserves than the fiat equivalent. This concept coupled with the fact that at low prices the daily volume was much greater meant that any new coins mined that did make it to market had little effect on the exchange rate. Now, with higher price, lower volume, and corporate mines with no interest in holding BTC you get an ever increasing supply of fresh coins comparative to historical time frames.
That's an interesting postulation. Though if true, it's not necessarily a bad thing. I'm total newbie in regard of trading / price discovering etc... but I always wondered: if someone is selling someone else has to buy, am I right? Yes. ok thanks what I really meant is: since the amount of new mined coins per day is something between 3000 and 5000 (*), do you really think this little volume will be so influential in moving down the price? (*) those days we're nearer to the upper bound due the growing global hashrate |
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And, if it's not that, it's all of the new corporate mines that have popped up. Generally, IMO, they're not interested in Bitcoin other than to load up on fiat, and since these operations are huge they're taking most of the newly mined coins and dumping them on the market for fiat. In years past, the mining base was much more spread out and mining participants, on average, were more intereseted in building BTC reserves than the fiat equivalent. This concept coupled with the fact that at low prices the daily volume was much greater meant that any new coins mined that did make it to market had little effect on the exchange rate. Now, with higher price, lower volume, and corporate mines with no interest in holding BTC you get an ever increasing supply of fresh coins comparative to historical time frames.
That's an interesting postulation. Though if true, it's not necessarily a bad thing. I'm total newbie in regard of trading / price discovering etc... but I always wondered: if someone is selling someone else has to buy, am I right? |
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... simia ex machina?
ROTFL this is such a gem |
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If a large mining operation does something bad, there will be a temporary disruption until the rest of the honest network decides to ignore them.
I don't understand why there is such an uproar about this... It's not like the rest of the network is just going to shrug and let a malicious entity continue to wreak havoc unchecked.
If the rest of the network has less hashrate than the dishonest network then they can't do anything about it other than be observers. Really? Care to elaborate a bit your reasoning? |
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How much hardware does GHash have, versus the hardware contributed by its users? Given that GHash's hash rate varies so much, I'd guess a significant fraction of its hashing power is decentralized. Thus, if GHash ever started to execute an attack, its users would immediately leave the pool, rendering it impotent. There is no problem.
45% bitfury hw owned by ghash. 55% customer hw that use ghash pool. they've said a new feature will be released: people who buy hashing power from ghash.io could decide to point such power to whatever pool they want. |
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Clearly no pool has any incentive to mount a 51% attack so please can we forget about that?
So, what *is* the incentive of ghash.io? They aren't charging any fees. Why are they paying for setting up a mining network that controls so much of the mining power out their own pocket and then just give it away for free? If anyone wants to do a 51% attack this would be the cheapest way to do it. Read their last announcement on that matter and you'll find out they're planning to launch a instant payment processor leveraging their massive hasing power. Plus they are selling ghs for a very long time, and I can assure you that their prices aren't cheap. |
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TL;DR dude sells coins because of some FUD he believed in. He sticked to his investment plan, this is a wise thing to do. |
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Sorry if OT, but with all the mining pool discussions... Greetings Eligius miners,
So, after some investigation over the past month or so, it turns out a couple of clients/addresses were involved in a “block withholding attack” against Eligius which has cost us an estimated 300 BTC, and likely miners of other pools as well. A block withholding attack is where a miner submits low difficulty shares but does not submit block solutions— so they appear to be working for the pool and continue to get paid while not actually doing useful work for the pool.
[...]
as a side effect this attack could have magnified ghash mining centralization problem lowering the number eligius's solved blocks |
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I heard they would be auctioning off 30K coins in 30BTC blocks online in a few days, i might wana bid! if i could get my hands on 30BTC for ~10-15K$ fuck man BUY BUY BUY!!
http://www.usmarshals.gov/assets/2014/bitcoins/This auction is for 9 blocks of 3,000 bitcoins (“Series A Blocks”) and 1 block of 2,656.51306529 bitcoins (“Series B Block”).
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Ghash.io is back to 45%. Hope it's a temp fix. It's still too much.
Wonder how that came about. Time to visit some other corners of the board. variance |
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Bitcoin gone mainstream , relax and enjoy the ride
i would say, enjoy the price dropping plus money losing and maybe a full market crushing to $5xx and $4xx very soon! thanks for the mtgox 800k + 200k lost coins and the China ban, there will be no more $1000 crazy buy, face the reality, $6xx is already the top bubble, time to calm down Fonzie, is that you? Is Fonzie falllling ? :-) the answer is no and it doesn't matter I was just playing with words. Maybe it would have been clearer if I had used "falling" instead, nevermind. |
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Bitcoin gone mainstream , relax and enjoy the ride
i would say, enjoy the price dropping plus money losing and maybe a full market crushing to $5xx and $4xx very soon! thanks for the mtgox 800k + 200k lost coins and the China ban, there will be no more $1000 crazy buy, face the reality, $6xx is already the top bubble, time to calm down Fonzie, is that you? Is Fonzie falllling ? :-) |
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Did you mean bitfinex? Isn't it based on bitstamp (sort of) ?
Yeah Bitfinex, sort of. They used to rely heavily on Stamp but as time has gone on they use them less and less, at one point not so long ago they did say they were almost completely decoupled. good to know. thanks for the info. |
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Bitstamp 631, Bitfinex 648, Huobi 648.
I think people are sending their fiat to other places than Stamp now. Even though its still the prefered trading platform for many, people don't want to take part in their KYC/AML. Where? I can think of kraken.com if you're euro based, but for dollars btc-e, coinbase? Finex VoS Finex makes sense as its so much higher. Did you mean bitfinex? Isn't it based on bitstamp (sort of) ? |
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Bitstamp 631, Bitfinex 648, Huobi 648.
I think people are sending their fiat to other places than Stamp now. Even though its still the prefered trading platform for many, people don't want to take part in their KYC/AML. Where? I can think of kraken.com if you're euro based, but for dollars btc-e, coinbase? |
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do we all agree that we are going down? too many sell orders at $650 - $660 - $680, we are heading to $630 - $600 -$5xx
yes we do..... I'd say we're falllling  I really didn't mean it |
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do we all agree that we are going down? too many sell orders at $650 - $660 - $680, we are heading to $630 - $600 -$5xx
yes we do..... I'd say we're falllling |
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No block for 30 minutes.  Could it be we're starting to reach hashrate saturation? what does "hashrate saturation" mean? (serious question) I'd imagine he's talking about the hashrate getting to a level where its not profitable to mine. However people mine at a loss for a number of reasons so its almost impossible to relate to Bitcoin in this context. got it. thanks. I was thinking something more complex/strange. |
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