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This was not a bear market . I primarily mine to get coins.
My mining profits never suffered. Since BTC diff drop from 23 to 14 from April price of 63k to 29k
now diff is 14 and price is 45
so
23/14 = 1.64. so if you mined 1 coin at 63 k or 1.64 coins at 29k cash wise you got 63k in April or 47 k on the lowest price in July
now you have a factor of
23/14.5= 1.58 and price is 45k or 71 k worth of coins.
If you study every day from the April price of 63 k and diff of 23. yo now you will see miners did not suffer much
In 2018 diff was 1.4 and got to 6.9
price dropped from 20k in 2017 to 6k in oct 2018
both bear in price of coins an in mining profits
I know traders mainly think in coin price. to say bear or bull
But miners have to go beyond that.
So this is more of a mixed market as a whole. Maybe we grind it out past 70k then the real bear wakes up.
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Large hodlers accumulate Bitcoin below $50K as BTC transactions over $1M soarThe dominance of Bitcoin transactions of values above $1 million has doubled year-over-year, hinting at a rising institutional involvement in the cryptocurrency space. Source: https://ct.com/9uh9 Very good read. Lets hope he is correct  |
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hung hanged by the neck until dead
Paintings are hung. Men are hanged. Some men are hung, too. Case in point: fillippone. @nohomo |
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I should also add that many of the machines I'm looking at mine altcoins instead of Bitcoin, and I'm interested in mining any cryptocurrency that can make good money for me. As for power, I'm thinking about using a hoster in order to minimize electricity costs (they're too high where I live much of the time). What would be some good hosters? Also, I'm still looking for ASIC recommendations. Are the two machines I linked any good? If not, what would instead be a good machine?
post in altcoin section I have a thread you can post there. https://bitcointalk.org/index.php?topic=5144362.0I run a long altcoin thread for years. it addresses those that want to mine multiple coins. I mine Btc and five other coins I won’t mention here at all. |
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I see a huge extended m-pattern in the gold chart.
Do you think Gold will go to 600 $ in a few years,
because of Bitcoin and Ethereum?
Nope. Gold will only drop that low if Musk and NASA figure a way to mine the golden astroid they found. Gold would become more common than silver and would drop like a bar of gold in a swimming pool. Other than that or some other way to make lots more gold cheaply gold will be more stable than a 600 usd floor. and franky1 was faster than my post oh well. |
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They break. It is a fact of life. It may have been fine when he shipped it and it was handled roughly by the shipper.
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Do you have any of these left?
I have my next batch arriving late august early sept. They are being presold I think I have about 100 free of 1000 coming =) I am a bit tired can you hold 2 I will get back to you on this on Monday. Sure bro all good, I know you =) I sent a pm please let me know how to proceed. |
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why worry 2023 is a long way off.
hell 2022 does not seem too close either.
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Organizing a party at $50k for my freinds but what time should i give them? Maybe tomorrow is fine with it  Give the party at $50k once the BTC price reaches $60k - that way your odds of staying above $50k should be better, but then you may have to wait a while before you are able to schedule such a $50k party.. Look at me, ruinin dee moo.......ruinin dee moo...  By the way, similar to some other WO regulars, I am still thinking that the resistance between $46k and $53k should not be very strong, but even with those kinds of suspicions, none of us can really have a lot of confidence of getting to $50k or even to $53k in a quickie manner and without some kind of surprise reversal or stoppage of the UPpity momentum, even though the UPpity momentum seems to be doing quite well in terms of both continuing and also likely ongoingly recking beartwats, no coiners, bitcoin naysayers, shitcoin pumpeners, and bitcoin fence sitters along the way.  Nice to see some upward movement! An update @xhomerx? Hm? For some reason I missed that one, or I could not remember seeing it previously. This "peep" cannot be everywhere at all times, even if some udder peeps retain/maintain such suspicions about this here peep. Hahahahahaha I like it. "Are we there yet?" "Are we there yet?" "Shut up, you fucking kids!! We have a long way to go, yet."   I see tons of resistance as we battle back to 63k and finally to my promised 70k (promised for May 1 2021) better late then never. |
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Anybody have a coupon?
fuck the coupon I ordered 1.
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i have some biostar z170 boards they run everything but I think they are 3rd or 4th gen intel.
so maybe a really old amd has an issue.
same for a 2nd gen intel.
I no longer have any boards that old.
I may have a newer board with a cpu are you in the usa?
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pre order is not an issue.
i want one where do I sign for it?
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new psu is almost certainly need.
do you have proper power 210 to 240 volts?
if you do. try opening gear and using only 1 of the three hash boards.
if that works try using two hash boards.
more likely the psu is dead. if the power is 210 to 240 volts.
once in a while you can run a board or two boards if the psu is weak.
finding a new psu will be very very very hard.
good luck on that.
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@glassnode Despite a strong rally to $45k, the #Bitcoin market still has not seen a significant increase in old coins (> 1y) being spent. This is very different to the 2018 bear market where old hands took exit liquidity on most relief rallies.  https://twitter.com/glassnode/status/1424606943646154756This is not a bear market for miners It is as bull as it was in April 2021 when coins were 63K 63k 23.5 diff April 15 2021 43k 14.5 diff Aug 9 2021 = close the same profits for a BTC miner and it is why newer coins move as miners are taking record profits right now. |
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There are very few if any good deals.
basically with a 43k coin price and a difficulty of under 15t
btc mining makes very good money this makes gear scarce and pricey.
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I get a 1.75 liter bottle of Tito's vodka. Fifty sticks of vanilla beans. Spilt the beans drop them in the Tito's for two months.
Spectacular vanilla vodka.
Use it straight up.
Use it in whipping cream with a bit of maple syrup
Use it in coffee warm or iced.
Use it in tea warm or iced.
Does not have carbs if you drink it straight up or in black coffee.
I don’t understand the relationship between your story and the theme, I just know that you like vanilla vodka. A LOT more than I like peach schnapps When I posted I think another post got between my post and the schnapps post. My post should have followed the one below damn, I deleted my impulsive post to LF as I subsequently thought it was kind of douchy of me. Didn't mean to start a shitstorm...lol Apparently, a free bottle of 90 proof Peach Schnapps makes me excessively post. GO BITCOIN if i drank that stuff it would 1) cause me not to see straight, 2) not be able to control my fingers to type, and 3) the keyboard would be covered in puke anyway. therefore no typing while drunk. ergo luckily no one sees my drunken musings. |
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Do you have any of these left?
I have my next batch arriving late august early sept. They are being presold I think I have about 100 free of 1000 coming =) I am a bit tired can you hold 2 I will get back to you on this on Monday. |
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I couldn't put the full title in the subject line due to character restrictions, but here is the full question:
If bitcoin was fully adopted into everyday life, why would it ever be used for day-to-day transactions if the general consensus was that the price would always appreciate?
After reading several posts on this forum many people seem to think that Bitcoin will always go up. If this were to be the case, why would people spend Bitcoin at all? In this theoretical time, wouldn't it just be a poor financial decision to do?
Or is it thought that in this future where there is widespread adoption the price would stop being so volatile and for the most part stabilize?
This is a really good question.
1) One mindset is it is a hedge against inflation. = hodl hodl hodl. This can drive the price up. Say I have $1,000,000 and want an inflation hedge I have to find some one willing to sell it. This can drive the price up.
2 Some people day trade 24/7/365. This churns the coins and in the long run should not make price go up or down
3 every day LN adoption is the unknown if it happens world wide it will churn coins it should not make the price go up or down We are not sure if 2&3 will override 1 the coin is set in stone =21,000,000 so no inflation rewards drop. mining cost pressure. both should rise price 2&3 add tx fees to help miners survive. It is very much a balancing act. 2&3 need to be large enough to help mining work as profitable. blocks are 6.25 soon to be 3.125 under 3 years and 1.5625 under 7-8 years It should be interesting to see this play out. |
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this is absolutely nonsense from Nvidia
wdym by nonsense? from their pov, doing this is absolutely acceptable. they can create an advertisement that gives a good image for their customers (esp gamers), and get more profit. plus they can easily design a new product line dedicated for mining, so it's a good solution for them. not saying it doesn't suck tho. So say I am a gamer and own two rigs with good 3080 cards. the resale on a good 3080 is about 20% higher than a lhr card. So my 3080 dies having never mined. They choose to send me a LHR replacement. To me that is the makings of a class action lawsuit. I wonder how often this has happened? |
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Would anyone of previous price prediction change there mind cause of the latest weeks…?
Or is everyone just thinking same as when they chose there price?
Same question…?Specifically to these bears below - Prediction overview158. $12,200 PrimeNumber7171. $14,687 wwzsocki175. $15,800 sabotag3x188. $20,500 mu_enrico192. $22,000 Ratimov193. $22,580 Buchi-88195. $23,500 0x256 ( second post) 197. $24,317 icopress200. $26,242 Charles-Tim204. $28,000 1miau207. $29,792 Captain-Cryptory My prediction was intended to be below all other predictions so to be the catch all of bearish predictions. I continue to believe there is a ridiculous amount of excess in financial markets, which is being caused by QE. Similarly, I believe that QE is causing inflation and is going to cause increased levels of inflation. This will ultimately mean that QE will need to stop and short term interest rates will need to increase. Both of the above will cause an unwinding of speculative bets in assets that includes bitcoin. This will make current levels of many asset classes to look like beyond the moon. This does not speak to the long term potential for the price of bitcoin, but rather the price over the next several months. It is possible that the fed allows inflation to get out of control, which would mean the above will be more pronounced, but will take longer. You convinced me to sell 1477$ worth of BTC today😊 |
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