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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: February 20, 2015, 12:15:29 AM
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In all seriousness, the Greek situation demonstrates how important Bitcoin COULD be. There is a nation of 11 Million people who may soon discover that their chequing accounts are part of a high-stakes game of poker between Angela Merkel and Syriza.
There is a 5-15% chance that the Greeks leave the Euro in 2015 and are forced into converting to Drachmas (IMHO). Greek savers will collectively lose Billions of dollars in buying power if that happens.
Most people don't worry about Capital controls, banking panics and access to their life savings until they are faced with a major crisis, and then people make emotional decisions.
That being said - the Cyprus Pump was probably not caused by Cypriots buying BTC hand over fist, and if we get a Greek pump, I doubt that much of the volume will come from Greek people. It is more of idea that the Market recognizes such events as damaging to the present financial system (which has only been in place for 40~ years). It is the same reason Gold may rise if there is a "Grexit" - 80% speculation, 20% increase in real buying. This last paragraph is 90% my biased opinion - as is most of this post lol.
Greece biggest problem is that they spend more than they make. The USA too, but the Americans have unlimited credit lines and can always print more money. |
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523
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: February 20, 2015, 12:11:38 AM
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With the next auction of DPR's 50,000BTC coming up in March I expect most of the coins to be sold much lower than market price and I also expect a huge dump after the coins from the auctions are dispersed. We may even see sub $150 coins at that time. I highly doubt any good positive gains until at least a few weeks after the auction. Most people won't take that chance of getting dumped on.
auction will be a non-event. nothing will happen at all. Please explain. in last auction nothing happened in the day of the auction. Tim Draper needs another loan to cost average down and buy a third time. |
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526
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Alternate cryptocurrencies / Service Announcements (Altcoins) / Re: Genesis-mining.com || World's leading hashpower provider!
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on: February 18, 2015, 05:37:53 PM
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I stick to Genesis Mining, they help me whit my questions, and if a problem occurred Marco fixed it him self. Do not forget Genesis Mining is whit CEX.io and cloudhashing the oldest cloudminer. Cex.io already stoped mining, and cloudhashing..  who wants to talk about cloudhashing lol they suck.. So... in my opinion Genesis Mining is the only cloud-hasher we can trust. Megamine has been around for a long time too. They too are very transparent and have very good customer support. I have an all-in contract there which is very nice; no worrying about maintenance fees at all =) Quote: "The new PAYG hosted contracts are available [...] with a daily hosting fee of $0.579/GH/Year (which equates to a charge of $0.00158630136/GH/Day [...]). The hosting fee is charged in BTC based on the market mid price of the day. All PAYG contracts run for a maximum of three years, but are terminated earlier if the earnings from the contract are not able to fund the hosting fees." http://www.megamine.com/latestnews.phpFurthermore, there is a 5%(!) charge on the gross income. According to my calculation this results in about $0.0018-0.0019 per GH/s and day, which is more expensive than Genesis Mining. So its about .15 per day for electricity and maintenance per kw/gh |
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529
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: February 16, 2015, 10:07:30 PM
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(Before the first USMS aution, some people speculated that those ~30'000 bitcoins would be worth more than ordinary bitcoins in the future; both for having been "blessed" by the US government, and for their historical value, having been through SilkRoad and its takedown. But no one mentions that now. The "collectors overprice" of those bitcoins now must be the same as that of the the dollars that once were in Al Capone's bank account: none at all...)
I don't remember it ever being considered that seriously. Far more important was the point that the U.S. Govt was selling them at all. That for the first time the powers were de facto admitting bitcoins' legitimate right to exist, as it were. Illegitimate spoils of busts - the drugs themselves for example - aren't auctioned, but destroyed. The beauty of fungibility then extended that 'blessing' to all bitcoins. The us government will sell anything under the Rico act. The only reason they dont sell drugs confiscated is because it is illegal as written in the laws. They auction real estate. Personal belongings. Jewelry. Bullion. Alcohol. Anything that is not illegal to possess. |
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530
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Bitcoin / Mining speculation / Re: China mining farms
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on: February 16, 2015, 07:46:54 PM
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Your key words "upwards adjustment", but it does appear as though the ASIC boom and hashrate has slowed.
July 2013 BTC was $80 and Diff was 26 million. BTC price has increased 3x and Diff has increassed 1800x
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534
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Bitcoin / Hardware / Re: [ANN] Spondoolies-Tech - carrier grade, data center ready mining rigs
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on: February 14, 2015, 02:53:44 PM
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I have had seasonic 660 760 and 860 platinum psus never any issues even when over loading them 10-15% over. But then again only pulling 200-210 watts per connector.
what does an sp20 pull per connector? If they are pulling around 1200 watts and there are only 4 inputs in the back then 300 watts per connector. Kinda iffy if you dont have 16 awg wires. |
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537
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: February 13, 2015, 01:14:52 AM
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Where are all the predictions and YouTube videos for bitcoin going over $10,000?
How is that any more ridiculous than Apple having a market cap of $700 Billion? in order for one BTC to be worth $10,000, the market cap would only have to be $210B or less (depending on how many bitcoins have been mined when it happens), less than 1/3 of Apple Corp's current value. Well, when you buy some Apple stock, you become owner of a slice of a huge company, that makes 70'000 USD of profit every second, by manufacturing and selling more than 10 million high-quality computers and smatrphones per month, that people literally give a kidney for. Whereas, when you buy a bitcoin.... There is no rational reason why an Apple phone or computer is substantially more desirable than one of it's many competitors. It's simply a preference and preferences change. The desire to own bitcoins (which can be looked at as shares in the Bitcoin network) is also a preference. The demand for Apple products may go down, particularly if they fail to keep innovating at a pace and in a way their customers expect. The demand for bitcoins may go up if innovation in the space makes them more useful. $700B puts Apple stock at a ludicrous price/earnings ratio reminiscent of the Dotcom bubble before the 2000 crash. There may be no objective way to value bitcoin, but there are objective ways of valuing stocks and by most objective measures, Apple is way overpriced. Apple stock pays a dividend And the pe ratio is only 16.8 not bad for a company still growing |
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538
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Bitcoin / Hardware / Re: [ANN] Spondoolies-Tech - carrier grade, data center ready mining rigs
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on: February 12, 2015, 05:03:01 PM
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I thought the original spec from Molex for the pins in the PCIe socket was the same as the original ATX socket, and I thought that was 5 amps. Does anybody have a more accurate recollection or specification on that? At 240W, that's 20 amps split across 3 pins, and also 3 wires. That's just shy of 7 amps per pin/wire, assuming all is well balanced.
It was originally 8 amps per pin, limited by the Molex connector, for 288 W. More recent PSUs (since 2005) are required to use 11 amp connectors, for 396 W. This assumes 3 pins for each of ground and 12V. The PCIE spec only requires 2 of each to be connected; although many PSUs include a 3rd of each, it is not universal. http://www.tomshardware.com/forum/274631-28-power-spec-power-plug#2674391The original PCIE power spec as a whole only specified 2 amps per pin, or 75 W total. The 8-pin revision of the spec specified 4 amps, or 150 W total. This is much less than the specifications of the individual components of the connector, which is why we disregard those limits entirely. http://www.playtool.com/pages/psuconnectors/connectors.html#pciexpressWell said. |
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539
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Alternate cryptocurrencies / Service Announcements (Altcoins) / Re: Genesis-mining.com || World's leading hashpower provider!
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on: February 12, 2015, 12:39:23 AM
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Another thing against the retail people is the manufacturers dont have much incentive to release new products immediately. They all secretly mine new efficient miners for some time and then release later when they become less efficient. I truly also belive they keep track with themselves to keep pricing of existing and new machines not too low. Because they control the chip and machine and manufacture industry. with profits getting smaller they must all work closer together by not killing themselves.
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540
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Alternate cryptocurrencies / Service Announcements (Altcoins) / Re: Genesis-mining.com || World's leading hashpower provider!
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on: February 11, 2015, 10:30:34 PM
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I think it is safe to say that most users (90-95% at least) in the US pay more than .10 for electricity, more like .14-.18
And until there is a pattern (3 months or more) of month to month decrease in Diff rate, we can only assume from the previous pattern that it will increase every month
With these theories there is NO Asic machine that will ever ROI if btc price stats current.
even the best asic Antminer s5 would only mine lifetime .32 btc. ($70 usd) (electricity on low end .14 and diff on low jumps 3%)
at higher end .18 electricity and 4% diff jumps it would mine .028 btc. ($6 usd)
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