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Done. New difficulty epoch has begun. -27.94%
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I don't think there will be any effect what so ever after the difficulty change, really makes no sense. If anything it will make mining a little more profitable and maybe get more miners to turn on their rigs.
However from a price perspective, I don't see a reason why it would change. Generally price goes up then difficulty follows however the opposite is generally not true. Price can come down but hashrate can still go up or hashrate goes down and price goes down. So it shouldn't have any affect.
Basically for most of July, we will most likely range between $30K and $40K with some fake-outs at the range highs and lows. Wait until we get a clear break and then trade that direction.
Pretty much this. |
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We will probably get the standard weekend dump, though we recovered last weekend from the early dump for ants quick enough.
So if it does go down, I don't expect it is because of the difficulty change, just the ususal low liquidity move lower.
My interest is on the mempool which is currently sitting near 60k. Will that clear out completely again and how long will it take.
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 SourceWe seem to have a small pump in progress, on the way to $40k? 100k ftfy |
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compare that to bsv - and the light goes up
BSV market cap = 3 billion SHIB market cap = 3.6 billion DOGE market cap = 34 billion BTC market cap = 667 billion BSV, haaahahahahahahahahahahahahahahahahahahahahahahahhahahahahahahahahahahahahahaha hahahahahahahahahhaha.......hahahahahahahahahahahahahahahahahahahahaahahhahaaha hahahahahahhahaah... hv_ don't you ever change bro, the world always needs a laugh. |
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Dominance  Meaningless Yep, when 200 zero liquidity shitcoins are added per day. |
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Blocks seem to have slowed down a little more over the last day. Apparently, 70% of Chinese miners had shutdown by about the 23rd, and by the end of the month that number would be 90%. End of the month right now so might be holding true. We definitely need that difficult change though, good thing transactions are majorly down otherwise there would be a big traffic jam. I bet the dollar signs in Phil's eyes are spinning right about now with this circa 25% difficulty decrease we are looking at. My Chinese miner info comes from the following https://twitter.com/SinoCrypto/status/1407524185228840965Counting the blocks from the last 12 hours and we are running at 72 blocks a day right now, that has to be the slowest the network has been. Half what we should be at. Difficulty drop might be closer to 30% when it happens. Hash rate now at 89EH/s At this rate I think it will be a week till this epoch is over. |
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CSW is completely full of shit. I am 100% certain he has had nothing to do with anything relating to Satoshi. End of story.
Besides, I truely doubt Satoshi was more than 1 person.
Inclined to agree. My thought is that CSW is well practiced at his shenanigans and Gavin was naive/star struck enough to fall for it. Yup. |
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I would hate for CSW to actually be that close to it all. He is a curse on the whole thing...
It could go some way to explaining how he was able to trick Gavin too CSW is completely full of shit. I am 100% certain he has had nothing to do with anything relating to Satoshi. End of story. Besides, I truely doubt Satoshi was more than 1 person. |
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Blocks seem to have slowed down a little more over the last day. Apparently, 70% of Chinese miners had shutdown by about the 23rd, and by the end of the month that number would be 90%. End of the month right now so might be holding true. We definitely need that difficult change though, good thing transactions are majorly down otherwise there would be a big traffic jam. I bet the dollar signs in Phil's eyes are spinning right about now with this circa 25% difficulty decrease we are looking at. My Chinese miner info comes from the following https://twitter.com/SinoCrypto/status/1407524185228840965 |
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Seems like this time they smarter and will break 30k slowly. This is worse than a hard dump.
At least the order book is still pretty strong, I thought the last drop would have cleared it out far more. |
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For example, after 12 March 2020, when the price recovered to 6K, he was confident there will be a pull back to 3K. He failed miserably then, losing a big portion of his wealth. After that, he announced he is retiring.
I've fucked this guy last year and I'll fuck him again. Please do. |
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What if...the president of El Salvador wants to push the price of bitcoin down to $30k just in time to start sending out the $30 worth of BTC to people.
That way, when the price then goes up to $40-50k people will see that their $30 is now $40-50 and then discover the potential of hodling bitcoin.
He'd have to keep it down for a while though as I assume the $30 giveaway will take place over months.
I don't think El Salavador has enough cash. Hell, I don't think they have enough for the $30. |
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So what's the deal with all the price fuckery lately? I suspect this has something to do with it.  This is where all those shorts are coming from. These kind of arseholes only seem to pop up in bear markets, god knows how long it will take to get rid of this prick. Look at the volume on bitfinex for the last 24 hours  |
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Hmm, not even the weekend yet but down we go it seems.
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In retrospect: I should have bought Bitcoin when I first heard about it. But as we say in Dutch: " achteraf kijk je een koe in zijn hol". But your "35.6x" proves my point: Say you've been buying $20 per week in Bitcoin since February 26, 2015. You now have 6.28 BTC. If you continue buying this way, you add 0.03087 BTC per year (at current price). Compared to the 6.28 BTC you have already, I call that dust. What's the point in adding less than 0.5% per year? That's why I'm not buying nor selling (other than what I need to pay taxes). If you're not into Bitcoin yet, this would probably still be a good strategy to start now. I recently found a (Dutch) finance blog that mentioned this too (I think it was €20 per month).I tell you what the point of buying that amount is, it's called savings. Any money from ones labor that is not needed for covering ones needs should be put into savings for the future. Traditional savings were done in fiat in bank accounts, but now, we have BTC. So if earning an income from labor and have money left over after expenses each week, where is the best place to put it? I say in BTC, even if the amounts you refer to as dust are low. My reason for this is that in the long term I don't want to lose purchasing power of any of my excess labor, which is guaranteed in fiat. Do remember, that would only make sense once your fiat savings has reached above a certain point which most people would call "emergency funds" which can be used in case of ... emergencies, which are not part of your regular expense budget. That is, if you still live in a fiat world, which most of us do, then you'd only put into BTC any excess considering volatility. There is advice out there to have an emergency fund of between 3 to 6 months worth of expenses, in case you lose your primary source of income or some medical emergency happens that is not covered by your health insurance / government. When you have money you think you won't need within the next 6 months (or maybe up to year) then yes, putting all that excess into BTC would make a lot of sense. Of course, some of us actually have our funds already in BTC, so ... I guess just keep it there unless you need to spend it. Yes, a good point and something I should have mentioned. |
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In retrospect: I should have bought Bitcoin when I first heard about it. But as we say in Dutch: " achteraf kijk je een koe in zijn hol". But your "35.6x" proves my point: Say you've been buying $20 per week in Bitcoin since February 26, 2015. You now have 6.28 BTC. If you continue buying this way, you add 0.03087 BTC per year (at current price). Compared to the 6.28 BTC you have already, I call that dust. What's the point in adding less than 0.5% per year? That's why I'm not buying nor selling (other than what I need to pay taxes). If you're not into Bitcoin yet, this would probably still be a good strategy to start now. I recently found a (Dutch) finance blog that mentioned this too (I think it was €20 per month).I tell you what the point of buying that amount is, it's called savings. Any money from ones labor that is not needed for covering ones needs should be put into savings for the future. Traditional savings were done in fiat in bank accounts, but now, we have BTC. So if earning an income from labor and have money left over after expenses each week, where is the best place to put it? I say in BTC, even if the amounts you refer to as dust are low. My reason for this is that in the long term I don't want to lose purchasing power of any of my excess labor, which is guaranteed in fiat. |
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this drop might be like the one from 6k to 3k in 2018. Reckon it won't get any lower than 20k though and that will be the end of the drops.
The only barrier/bottom which proven to hold several times in the past weeks was $30k (well, technically it had a spike down into 29k that lasted a second), for me it's unknown territory below, have no clue or sense of direction. Who knows where it will stop, but in the end the inflows will match supply eventually and the lower the price goes the easier it is for it to do that. |
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This drop might be like the one from 6k to 3k in 2018. Reckon it won't get any lower than 20k though and that will be the end of the drops.
Mempool getting a work out on these dips. Weak hands transferring coins to an exchange I guess.
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