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Miners are the reason bitcoin are getting into the chain at the first place, how;s that killing, isn't that the opposite?
The problem supposedly is that currently there are too many miners operating in marginally profitable conditions and allegedly dumping coins on the market. Well the mining ecosystem was designed to be a closed-loop feedback system with an inherent lag. Anyone who has studied control engineering will understand what is happening now. Eventually some miners will bail out and close shop and there may be less dumping of coins. I say may, because I don't really believe it is the miners doing the dumping. I am a small miner myself, with just under 50 TH/s and I have not sold a single coin since November. I think we will start seeing consolidation of mining from the data centers that can afford to operate under these conditions. As smaller miners and farms throw in the towel and sell their equipment I see big data centers taking over even more of the network without formal acquisitions. Smaller mining operations just can't function at a loss for so long. just my .02. |
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I posted this in another thread but it is relevant here.
The dollar won't ever tank. Most people think it is valuated through the fed and others but really it is backed by the most expensive military ever. Oh yea america can put econ sanctions on many this has value. As long as a govt with these things is using the dollar the dollar won't be tanking any time soon.
This to an extent. I will go as far to say it won't take in anyone's lifetime currently. We don't know what is going to be going on 200 years down the road from now, so it is foolish to try and guess what will happen. I agree with you. Say it won't ever tank might have been too strong of language. I meant more a long the lines of in my lifetime I don't think it ever will. |
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the fundamentals didnt change, so i dont see a reason to sell except speculating which i dont have time for
The fundamentals have changed. The cost of the network is sky high, so miners need to dump the 3600 coins mined everyday. At this price that's $750,000/day. Sorry folks.. that overhead will continue to eat at BTC for years to come. It needs to fall ALOT further until it stops falling. I just don't agree with people when they say the fundamentals have changed. You can still pay for things whether the price is high or low so how are the fundamentals changing? |
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I posted this in another thread but it is relevant here.
The dollar won't ever tank. Most people think it is valuated through the fed and others but really it is backed by the most expensive military ever. Oh yea america can put econ sanctions on many this has value. As long as a govt with these things is using the dollar the dollar won't be tanking any time soon.
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Soon global stock market which is completely priced out of it's fundamentals with the free loan money printed by central banks, is going to crash and dumb money running to precious metals  It's seems the gold will not go to moon because of the strong dollar. The Dollar will likely tank when the FED will need to create a lot more Dollars to sustain assets prices and a US economy based on unhealthy imbalances. The dollar won't ever tank. Most people think it is valuated through the fed and others but really it is backed by the most expensive military ever. Oh yea america can put econ sanctions on many this has value. As long as a govt with these things is using the dollar the dollar won't be tanking any time soon. |
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Until we see this theorized exploit in action you have no reason to believe cold storage wasn't as safe it was yesterday.
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lol because u had enough money in there? $13 btc to 13 btc lol BIG difference.
Well I was up for 25 hours straight, that should be enough of an excuse lol, I didn't expect it to go this bad.... If you hold for awhile it could turn out to be a good goof. Everyone is panicking over price right now but that's expected. Trust yourself and you will be fine.
Yeah, I was thinking about holding, but some one else has said they would try to get it reveresed by the bank, but idk, cause Coinbase still won't allow me to "see" the BTC until Tuesday morning It is already looking good. Come back on tues and be happy! |
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I think the best thing about bitcoin is it forces people to learn financial responsibility to survive in the crypoworld. Once you become your own bank you are responsible for everything like security, liquidity, and insurance if you are offering services. With bitcoin usually the diligent thrive which is good when dealing with things of value.
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How big whas the investment in bitcoins first year? 0 I'm not denying alts are getting investments i'm just saying the comparison is fractional at best. |
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Same here. I think if you aren't in it for quick money hodling for 5years or more is a nice idea. |
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This could mean bitcoin's new birth. Low prices and a fresh start, rid of scams such as BFL and mt. gox.
True but that is only for one looking at prices. When you take in we have seen microsoft, overstock, and google with their investments all have become more open to bitcoin maybe we can say bitcoin is just growing up and these are growing pains. |
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@flipstyle yeah, you're sorry all right. Averaging down isn't a bad idea. What's a bad idea is taking pleasure at his losing money. That's... a little more than low character. Psychopathic more like. Of course the pathology is no doubt your buying in at 1k+ or some such situation. Being mean to this guy makes you feel better about your situation.
These forums seem to be overrun with trollish scum such as yourself.
A certain amount of culling is actually good for the ecosystem. Bitcoin's extreme volatily has been caused in great part by the too many self-styled 'investors', the ones that find themselves crying now. I agree the day traders and pseudo investors are panicking but many are loading up on the way down to further hold. |
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The mood of the forums goes with the markets. Pay attention to investment, news and adoption and you can make your choice.
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I firmly believe bitcoin will be the long term leader of crypto but it is just an opinion. Still nobody else is throwing angel funds at cryptos other than bitcoin.
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My definition of early adopters are those who managed to buy at less than $1 per pop. Even at current price and with 2000, I will only get about 10 btc. I mean if you ask early adopters what they have are mostly like above 1000btc. Those are true early adopters
I understand your opinion but there are professional investors who have been waiting for the chance. While they might not be "smart" money throwing 100k towards 100$ BTC could prove to be a shrewd move and that is how a lot of them are playing it. |
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I'm sure people felt there was no hope when they saw the price crash from $32 to $2. Plenty of people must have sold up and got out then. Perhaps history will repeat itself and those who sell up now will regret it in years to come.
Exactly. |
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Unfortunately gold's real world utility has been decreasing in the industrial world, which is where it derrives a great majority of its value. It's value now really only hingest on jewelry and its 'traditional' use. India is probably one of its biggest markets. I don't really foresee any great sustained bullish sentiment for the foreseeable future, unless the feds announce something catastrophic (qe3 did not do much if anything to help the prices).
It is always a good idea to have gold on hand. Go to any modern country on the planet and you can barter with gold. Institutions might not accept gold but individuals will always accept it. |
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What does everyone consider a collapse in price. BTC hovered in the low 100's for half a year so maybe we are jumping the gun screaming collapse.
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If you hold for awhile it could turn out to be a good goof. Everyone is panicking over price right now but that's expected. Trust yourself and you will be fine.
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