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THIS THING IS ABOUT TO EXPLODE
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You have to laugh, when you see all these Nay sayers, cherrie picking certian things, to bash the currency.... When it was $1000+ they were the same people, singing it's praise's.
Let's digest 2014
1. it was the year, where HUGE companies like DELL / Microsoft and atleast 5000 smaller merchants in only Taiwon, adopted Bitcoin.
2. Huge amounts of Fed coins were put back into circulation, when it was sold on auction. {Some are kept in storage}
3. Miners are dumping almost ALL coins back on exchanges to be converted to fiat to pay for electricity costs etc.
So the situation now, is this :
We have HUGE amounts of coins being sold for fiat, more than previous years. {Merchants like Dell / Microsoft is definately not hoarding coins}
We have coins being brought back into circulation, which was previously hoarded. {Hoarders buying products from these NEW merchants coming in}
We have Fed coins, perceived as being back in circulation. {Previously, the Fed protected those coins and it was not availlable to the public}
We have a higher percentage of coins being converted to fiat from the miners side. {As the price goes down, they have to sell more coins to pay for the electricity}
The result :
There are more coins availlable, and this push the price down.
The solution :
1. Merchants should hoard some coins, and not convert everything directly to fiat {In the long run, this will increase their profits}
2. People buying coins from the Fed autions, should see this as a long term investment and slowly put them back into circulation.
3. Most difficult option - Miners will have to find ways to reduce the amount of coins, they put into circulation. {What they are forced to do now, will even hurt them more, in the future}
A simpler alternative: - price is being dumped down to hell - price will be pumped up to heaven sooner or later Rest is fluffery. |
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Thanks a lot, much appreciated  |
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...
a low bitcoin price is the *BEST* time for mining. low bitcoin price = lower income taxes on mined coins
... When BTC price finally hits zero => no taxes at all => everyone buys mining gear => hashrate explodes  You guys are logicians IRL, amirite? Before price hit 0.01 somebody will buy 50% of the bitcoin in existence, cornering the market. Then you'll see what a pump looks like |
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@Sitarow: are those spreadsheet public? If not, can you make one for 200$ level? Thanks, a hell of a work you did.
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They are shutting down some of their hardware, the unprofitable one. If they were to replace it soon (eg: in a week) then why doing the announcement and shutting down GHS on their client's face entirely?
What can this mean for the Bitcoin network?  ? Slightly slower confirmation time for the next 2 weeks, starting when they shut down this hardware (at next difficulty adjustment, just now apparently). But nothing more, there are other players, and the incentive-based mining network is a self-regulating system. It will manage. |
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suspending cloud mining doesn't necesserily mean that they stop mining internally, does it ?
That's why it will drop 10% instead of 30%+ unlikely it will drop like that. The cloudmining contracts might end, but the hardware will still exist. It may likely just be used for CEX's private mining. I expect a 0% diff change because a lot of 1w+/gh gear will shut off but be replaced by newer S5/SP20 gear They are shutting down some of their hardware, the unprofitable one. If they were to replace it soon (eg: in a week) then why doing the announcement and shutting down GHS on their client's face entirely? |
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This is mere sensationalism by piss-poor "journalists" and the retarded echo chamber of "social media".
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suspending cloud mining doesn't necesserily mean that they stop mining internally, does it ?
That's why it will drop 10% instead of 30%+ |
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But Max Keiser told me that my coins would be worth 1 million dollars by now
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Price is up, next stop $100,000!!!
Calm down, cowboy. 300$ first No, I think it'll skip $300 and shoot right up.  haha, yeah |
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Price is up, next stop $100,000!!!
Calm down, cowboy. 300$ first |
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short squeezing is a possibility, i think - too many shorters at and below this level
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china is pumping, bless them
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if memory doesn't fail me i remember gox lowered their fees shortly before their meltdown
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worth noting that the 255 bottom was also the highest 2 digits hexadecimal possible (ff), coincidence?
yes ofc, you trolls, i'm just kidding
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Here's the question- where do I SELL my coins? I've got a significant portion on Bitstamp,but I'm not verified at Kraken yet, and like hell I'm willing to put more coins INTO bitstamp. :-)
Verification at Kraken is extremely easy (up to tier 2). If i remember correctly you just need to verify your mobile phone number. |
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