Observe how pessimistic the newer members are compared to the elder members.
they are not pessimists. they live in reality. if the miners will stop the mining , there will be NO Bitcoin. because in this scenario transaction confirmation would take days or weeks. Who will validate the transactions?  |
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and antarctica.
do you live there? |
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If 1 BTC = 5 USD = NO miner I will mine, and so will others. In fact, I've never sold a single bitcoin that I've mined, and I've been mining since 2010. Low difficulty? No problem. Open the Bitcoin console and type "setgenerate true" and keep the hashes coming. People are panicking now, because the price is falling. When price rises again, people will feel differently. Mining isn't going away. you will be on loss. I am not sure why someone would do that. One miner alone can earn up to 1-2 BTC per month calculate yourself : http://blockchained.com/profit/index.phpIt's only a loss if I sell, and I have never sold. I mine because I like to mine. maybe you are an eccentric millionaire and you want to have some "fun" (i am not sure where it is the fun to mine..in the end, it's your choice) BUT 99% from miners are doing it for pure profit. They mine, the mining has a cost and they sell for a price. If they get a lower amount than the costs, that means bankrupt. You're right. (And you're not the first person to call me "an eccentric millionaire." haha.) As you said, 99% of people mine for profit. This is probably true. Who are the rest? I don't know. I suspect there are a few people located in countries with currency and capital controls who mine as means of diversifying their assets. They can't buy bitcoins at a good rate or dollars at a good rate or anything at a good rate except for the state-imposed currency, but they can buy mining equipment. There are also probably a few people who use ill-gotten money to purchase mining equipment as a means to launder their cash, whereby they create fresh bitcoins. you said "investment". BTC was 1000 USD a year ago. Normally you should have sold your BTC at that time. This is an investment, the action of investing money for profit. You cannot launder cash if you buy mining hardware which will be useless in 6-9 months it's like you trow the money away and the laundering assume that you will recover the these money. There are much better ways to real launder the cash. |
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Bitstamp will be forced to sell its Bitcoin due the price falling. Let's see who will buy it Why would they need to sell their bitcoins? They don't need to sell the bitcoins of their customers and they get cash from people buying btc which they use to pay their costs. do you really think that a big exchanger will stay to look how the price is falling without selling his Bitcoin? It must be very stupid if he acts like that. I mean, let's say that I have 100,000 BTC and i see the price is going down to 1 BTC = 100 USD and I know it won't recover overnight (not even in months)...what do you think that I will do ? I will SELL. Why? You can never know what it can happen with Bitcoin. Maybe a big exchanger will be closed, maybe a big miner is closed too...the price can be down for month-years. Also, a big exchanger cannot have too many options if he wants to sell. He must go to one of his competitors which can or cannot have a large amount of money available for a sell of 100K BTC. 100k x 230 USD = 23 MIL USD 100K BTC x 100 USD = 10 MIL would you throw away 13 MIL USD just because you believe in Bitcoin?  These big exchangers are not fools. they care about their pockets alot(it is something normal). Who would not? It's about business here not about Bitcoin bla bla... |
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If 1 BTC = 5 USD = NO miner I will mine, and so will others. In fact, I've never sold a single bitcoin that I've mined, and I've been mining since 2010. Low difficulty? No problem. Open the Bitcoin console and type "setgenerate true" and keep the hashes coming. People are panicking now, because the price is falling. When price rises again, people will feel differently. Mining isn't going away. you will be on loss. I am not sure why someone would do that. One miner alone can earn up to 1-2 BTC per month calculate yourself : http://blockchained.com/profit/index.phpIt's only a loss if I sell, and I have never sold. I mine because I like to mine. maybe you are an eccentric millionaire and you want to have some "fun" (i am not sure where it is the fun to mine..in the end, it's your choice) BUT 99% from miners are doing it for pure profit. They mine, the mining has a cost and they sell for a price. If they get a lower amount than the costs, that means bankrupt. |
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This is ancient history - the Chinese exchanges brought fees back in long time ago; Can't believe people still buy into this fake volume theory. it's from 10 months ago not an ancient history. yes, the Chinese exchanges(and not only) are faking transactions. this is the truth. |
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If 1 BTC = 5 USD = NO miner I will mine, and so will others. In fact, I've never sold a single bitcoin that I've mined, and I've been mining since 2010. Low difficulty? No problem. Open the Bitcoin console and type "setgenerate true" and keep the hashes coming. People are panicking now, because the price is falling. When price rises again, people will feel differently. Mining isn't going away. you will be on loss. I am not sure why someone would do that. One miner alone can earn up to 1-2 BTC per month calculate yourself : http://blockchained.com/profit/index.php |
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The price drop in 2011 was especially painful. >$25 per BTC to <$5 per BTC. That one really hurt. And yet, mining continued. Yes, mining continued because the electricity bill was OK for that year, 2011. Now, you have to spend a lot of money on electricity and hardware otherwise you won't make any profit. You have the cost of the mining computers, storage space, and energy for cooling and powering the mining machines. The profit in bitcoin mining is all about making sure that the selling price (or stored trading value) of the mined bitcoins is greater than the cost to mine them in the first place. As the Bitcoin mining profitability is all about getting the hash rate (speed of calculation) high enough, while the cost of hardware and energy is low enough. Even so, because bitcoins become more difficult to create, the existing hardware (no matter how large its current hash rate) will quickly obsolete. You cannot mine by using your PC anymore. If 1 BTC = 5 USD = NO miner |
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Bitcoin going down again and again Now at 255$/1BTC , I hope btc dont reach 200$ in next month And i hope again btc will raise up in next month , maybe up to 350$ it's 230 USD |
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Other miners like cloudhashing.com announced that they will stop minering if the price will fall under 200 usd.
they can't cover their costs with this price.
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Bitstamp will be forced to sell its Bitcoin due the price falling. Let's see who will buy it |
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one thing is sure. the price will FALL a lot in the next days.
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What gives Bitcoin its value?
Supply and demand?
Surely, as more merchants accept Bitcoin, more bitcoin gets sold for $$ driving the price down. The lower the price, the more people will panic and sell their BTC or trade it for goods, thus reinforcing the cycle.
I am getting to the point now where I am so tempted to sell my own BTC. I don't normally waver on things like this, I believed Bitcoin had a bright future, but my belief is shaken now.
I can't see anything in the near future that will increase the demand side of the equation....
Ostensibly, supply and demand. Reality: market manipulation by illegal trading by BitStamp and BTC-E Agree! very good point. I may add BTC china, OKcoin, LakeBTC and Huobi. |
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there will no profitable for any miner because the expenses will be higher than the revenue
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Guys guys!! what is the floor?
40 USD is the floor. What  where you got that number from , It will never drop that much , never . what could possibly make it drop to that price According to Bitcoin.org, the price of a bitcoin is determined by supply and demand. In reality, the price is set by the big exchangers (4-5). But they will forced to cut the price down in the end. Now, the people are selling and the exchangers will have to sell too. This moment it will be so funny. We will see how large amount of BTC is moved from other to each other until one of them will remain with the loss. ) |
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CEX.io suspended their services. So, the miners are jumping from boat |
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I am very curious when the big exchangers will start selling their Bitcoin. Example: Bitstamp or Bitfinex cannot stay and waiting how the price is falling. They have a lot of BTC which will worth "dust" soon if they do not exchange now. They will have to sell to each other |
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