One of the best crypto to come out recently is MicroBitcoin, or MBC. There was a news last week that the government of Paraguay was going to build a mega mining farm and would use MBC as the underlying crypto for the whole project. I would like more info on how to mine MBC. If anyone has more info, please share.

https://microbitcoin.org/
https://miningpatriot.com/

Has anyone else mined MBC?

Yes, I know it's only worth a few satoshis at the moment but I seem to remember when a BTC was worth only a few penny. The smart thing to do is to get in on the ground floor and ride it to the moon.

Lol this is too funny, I was led to believe we were going to see $11000 in the coming days.

I am so happy to have sold some yesterday, my spidey sense was tingling. Now, lets see if I can buy them back at a bargain price. Why do I make so much more money in a tanking market? Probably because I dont buy when its going up.

Anywayz, buy low, sell high, alwayz works for me. Noobs lose money because they do the exact opposite. Lolz!

I'm trying to better understand the nature of these price bubbles in bitcoin. What other human inventions have the same bubble making qualities prevalent in bitcoin? I had seen bitcoin compared to cellphone adoption and even the spread of internet. But they (cellphone and internet) are different in many ways in how they behave, and also bitcoin has strong monetary qualities while cell phones and internet not so much intrinsically anyway. So, what things can you think of that resemble bitcoin's bubblicious nature? And why?

In 2014, we entered a long down market where we saw periods of side ways followed by a slide down, repeat and rinse. Is 2017 shaping up to be another 2014?

Now that we see how January blood-bath has become a reality, it's time to re-assess the direction bitcoin is heading.

Scenario 1:

Bitcoin price will follow the pattern established in 2014 thru 2015. The pattern was a long decline from $1000 level to $200 level. Bitcoin lost over 80% of its value. This will mean we will see a steady but small declines over the next 2 years to $200 level.

Scenario 2:

Bitcoin price will not follow the pattern. Instead, we will see bitcoin firming at around $800 and then continue to rise in 2017.

What other scenarios do you see in 2017 and beyond?

and why is no one here talking about it?

We all know a drop is incoming. The only question is how much? I'm thinking a drop to $640, by end of August 1. What do you think?

a bear run must start.

What goes up, must come down.

Have you not noticed the steady downward march since we hit 790 a few weeks ago?

Do not get trapped, there's no hope of price rise, at least not until November/December. Until then, only a death march towards $450.

The best strategy would be, to short the market. You can still profit, only if you sell now and buy back later.

When btc went from 120 to 1200. In Sep'2013, btc was $120, by late November it was $1200. All thanks to China. The bubble then was unbelievable. I'm starting to get the same feeling again. Go, China, go!

In time to celebrate new high for the year at 624, they are dumping now.

Some of the forum members are thinking this, but I believe I am the first to put it in writing on a public forum.

The Chinese Mining Cartel is real and is an existential threat to Bitcoin.

Who are the members of this cartel? They include all the major mining farms, mining gear manufactures and traders. Some of the members are vertically integrated, I e, they manufacture mining hardware, operate mining farms and actively engage in speculative trades.

What does the cartel have to do with the Bitcoin price?

TCMC wields an enormous amount of influence over the price. We know the members meet publicly, and I suspect they also meet privately. Bitcoin price is definitely one of the major topics they hold discussions on. I suspect they strategize how to maximize the profit,

Why is this bad for Bitcoin?

History is full of examples on what happens when leaders of an industry collude to corner the market and control the price. Only they will profit and everyone else loses.

Will history repeat itself? Are we too stupid or weak to let them? Have we forgotten the lessons of history?

To no one's surprise the big dump by Craig Wright has been postponed. It will come soon but we may stay at current levels a bit longer.
Notice how there's an enormous pressure keeping it under $500? There is theoretical room to temporarily go up but there's a lot of pressure to keep it down. What do you guys think is going on here?

Looking at the books, it's obvious there are lots of people ready to take profit from the recent rise in btc price. We'll see 445 soon.

Most people in the speculation forum don't understand anything about Bitcoin mining.  The first thing you need to understand is, nobody running a current process node miner actually turns them off no matter what the price does.  You're either an ASIC dealer that spent millions on research and design to make it, or some random Joe that paid a big premium for one.  Turning them off makes no sense for anyone since Bitcoin is an asymmetric investment.  Unless you're mining with crazy expensive electricity, your current generation miner will either pay off eventually, or Bitcoin will go to 0.  There's no purpose in turning it off.  

If you're mining, you likely already own coins, and increasing hash power just drives the price up of the ones you already have as well.  Trust me, I've rented out like 80% of the hashpower of entire altcoins, I'm an expert on this from firsthand experience.  Since the amount of miners deployed increased a lot with the recent price increase, this means the floor miners will stop selling at raised too.  After the halving, the miner profitability drops in half.  If the majority of the network is composed of ASICs that are supposed to be technologically viable, or even near their ROI period at all, but the sell rate is not favorable to that, they will simply stop selling, supply withers to nothing, then the price boom occurs.

Miners also tend to mine at a loss in hopes of future returns (being a deflationary system and all) long before turning their miners off.  It is 100% inevitable price increases after halving.  Post halving price is a function of what the market can bear pre-halving.  We've already seen the Mike Hearn R3 propaganda scare dumps where the market didn't drop that much then rebounded anyway.  There's not a problem with the market supporting this ballpark of pre-halving price of around a 410 floor.  

No matter how you look at it, post halving, in one way or another, through multiple dynamics, the supply will decrease propotional to demand.  Mining is a form of demand.  Mining is a decentralized exchange, Coinbase is a centralized exchange.  The price could increase 50%, it could increase 100%, or depending how elastic demand is, it could go much higher through a big shock in supply side distortion.  Around 75% of Bitcoin has already been mined, so the hard part, the putting money up front to capitalize the accumulation period, is already done.  Now the people who have accumulated just wait for inflation to drop, like it's about to do, then send the market higher.  The market will move through both predictable laws of economics and whale engineering at the same time.

Mining has no effect on the bitcoin price. You can turn off your miners and no one will care; you can turn on your miners and no one will still care. Now, if ALL MINERS decide to turn ALL mining gears off, then it will probably impact the price, but that will NEVER happen, so let's not go there.

On the other hand, bitcoin price has a tremendous impact on mining. We've seen it in 2015 when bitcoin price was in the toilet, the hashrate stayed about the same or went up a little.

Miners can only generate about 1440 bitcoins a day, when you consider that a Chinese exchange can digest 1440 coins in one minute, you can see the futility of argument about mining affecting bitcoin price.

Some hero/legendary members are so short-sighted or so bulltardy that they refuse to see the truth, or they see and know the truth but can only spew lies upon lies for their personal benefit.

As for the market price being what it is, almost double since January 2016, the only reasonable explanation is the Halving in July. Everyone and their grandmothers know what's coming. Traders, seeking only profit, must engage proactively or else they will be blind-sided, so they buy more than they sell, precisely because they know it's about to become a little more scarce.

Beware of heroes/legendary members who tout only one side of the argument, they come with hidden agendas and vested interest.

We're at 420-425 today. We all know it's going back down to 410 soon. The question is when?

any day now. I can feel it in my gut, better load up on more bitcoins.

Actually, I was playing with charts and saw an interesting one. If you center it on May 31, 2015, there's a mirror image forming on the both sides, right and left of the date. Waves are stronger and bigger on the right side but it matches the image on the left. We're poised for a rocket ride, according to the chart. I'm buying more coins now.

900, here we come!

I just don't think we will hit 1K, too many coins offered on sale at 800-900 range, will take a miracle to go beyond 1K.

Brace for price drops.

I always wondered when they'd stop accepting it, just because of low usage, it's more hassle than convenience for the users and vendors.

Who else is going to follow? Overstock, TigerDirect?

Bad news abounds in bitcoinland, did you read the news about the round table? Coinbase CEO just published a damning report. We're in for a steep loss.

Read it and weep:

https://medium.com/@barmstrong/what-happened-at-the-satoshi-roundtable-6c11a10d8cdf#.w2higxnth

Beware of the Pump&Dupm happening right now. Don't get suckered in. Price will drop faster than it's going up. If you buy now, you will be a foolish bag-holder later on.

We all know how it's going to end up, after a period of flatlining. A drop to 360 is INCOMING!!!