marcus_of_augustus
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Activity: 3920
Merit: 2348
Eadem mutata resurgo
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July 19, 2015, 11:50:05 PM |
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... now less than 55,000 blocks until the rate of issuance halving. Any demand on the sidelines waiting for lower prices have a time cost for delaying.
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Whoever mines the block which ends up containing your transaction will get its fee.
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Fakhoury
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Activity: 1386
Merit: 1027
Permabull Bitcoin Investor
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July 19, 2015, 11:57:38 PM |
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... now less than 55,000 blocks until the rate of issuance halving. Any demand on the sidelines waiting for lower prices have a time cost for delaying.
How is that ? |
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ChartBuddy
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Activity: 2170
Merit: 1776
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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July 20, 2015, 12:01:32 AM |
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TaurusBit
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Activity: 183
Merit: 100
TaurusBit.com Administrator
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July 20, 2015, 12:58:16 AM |
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Mmmm China waking up.. Will it go up or will it go down?  |
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ChartBuddy
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Activity: 2170
Merit: 1776
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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July 20, 2015, 01:01:26 AM |
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SheHadMANHands
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Activity: 1168
Merit: 1000
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July 20, 2015, 01:02:49 AM |
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lol was that the big crash?  |
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Torque
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Activity: 3556
Merit: 5041
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July 20, 2015, 01:24:00 AM |
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I find it interesting the falling sell pressure on the 12h. Clearly someone thinks we're bottoming out soon, and wants to go up. StochRSI has bottomed here as well.
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marcus_of_augustus
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Activity: 3920
Merit: 2348
Eadem mutata resurgo
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July 20, 2015, 01:39:11 AM |
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... now less than 55,000 blocks until the rate of issuance halving. Any demand on the sidelines waiting for lower prices have a time cost for delaying.
How is that ? Mining difficulty has almost flat-lined now for a few months which indicates bitcoin price is very close to marginal 'average' cost of production. At halving cost of production effectively doubles (same difficulty for half the reward) ... you should be able to do the rest of the math from there. |
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noobtrader
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Activity: 1456
Merit: 1000
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July 20, 2015, 01:57:23 AM |
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... now less than 55,000 blocks until the rate of issuance halving. Any demand on the sidelines waiting for lower prices have a time cost for delaying.
How is that ? Mining difficulty has almost flat-lined now for a few months which indicates bitcoin price is very close to marginal 'average' cost of production. At halving cost of production effectively doubles (same difficulty for half the reward) ... you should be able to do the rest of the math from there. as i posted few month ago, i predict that the cost of production atm is about 120-250 usd (120 if you dont pay electricity), now the difficulty is about maybe 5% higher. at next halfing then cost of production is 150-500. and that would be the price range next year. |
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marcus_of_augustus
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Activity: 3920
Merit: 2348
Eadem mutata resurgo
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July 20, 2015, 02:00:55 AM
Last edit: July 20, 2015, 02:51:47 AM by marcus_of_augustus |
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... now less than 55,000 blocks until the rate of issuance halving. Any demand on the sidelines waiting for lower prices have a time cost for delaying.
How is that ? Mining difficulty has almost flat-lined now for a few months which indicates bitcoin price is very close to marginal 'average' cost of production. At halving cost of production effectively doubles (same difficulty for half the reward) ... you should be able to do the rest of the math from there. as i posted few month ago, i predict that the cost of production atm is about 120-250 usd (120 if you dont pay electricity), now the difficulty is about maybe 5% higher. at next halfing then cost of production is 150-500. and that would be the price range next year. If bitcoins are selling for $275 and someone is able to generate them for $120 (by your calculations which must include all costs) how can you explain that the difficulty is not increasing then? It doesn't make sense ... if I can generate bitcoins for ~100% profit I'm going to keep adding rigs, that's simple economics. |
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ChartBuddy
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Activity: 2170
Merit: 1776
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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July 20, 2015, 02:01:28 AM |
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noobtrader
Legendary
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Activity: 1456
Merit: 1000
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July 20, 2015, 02:03:31 AM |
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... now less than 55,000 blocks until the rate of issuance halving. Any demand on the sidelines waiting for lower prices have a time cost for delaying.
How is that ? Mining difficulty has almost flat-lined now for a few months which indicates bitcoin price is very close to marginal 'average' cost of production. At halving cost of production effectively doubles (same difficulty for half the reward) ... you should be able to do the rest of the math from there. as i posted few month ago, i predict that the cost of production atm is about 120-250 usd (120 if you dont pay electricity), now the difficulty is about maybe 5% higher. at next halfing then cost of production is 150-500. and that would be the price range next year. If bitcoins are selling for $275 and someone is able to generate them for $120 (by your calculations which must include all costs) how can you explain that the difficulty is not increasing then? It doesn't make sense ... if I can generate bitcoins for ~100% I'm going to keep adding rigs, that's simple economics. you miss 120 if you dont pay electricity (just the internet and maintenance) btw its quite difficult to find free electricity these days  |
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BlackSpidy
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July 20, 2015, 02:40:12 AM |
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Wow, I just noticed the BTC-e dump. Wow, I'm really surprised that it didnt have a larger effect on the price (I have o idea how many Bitcoin were dumped). I really wish I could have gotten some BTC (or fraction of) for $150. Really, I'm optimistic. I hope we're not in for another week of boredom.
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marcus_of_augustus
Legendary
Offline
Activity: 3920
Merit: 2348
Eadem mutata resurgo
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July 20, 2015, 02:50:45 AM |
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... now less than 55,000 blocks until the rate of issuance halving. Any demand on the sidelines waiting for lower prices have a time cost for delaying.
How is that ? Mining difficulty has almost flat-lined now for a few months which indicates bitcoin price is very close to marginal 'average' cost of production. At halving cost of production effectively doubles (same difficulty for half the reward) ... you should be able to do the rest of the math from there. as i posted few month ago, i predict that the cost of production atm is about 120-250 usd (120 if you dont pay electricity), now the difficulty is about maybe 5% higher. at next halfing then cost of production is 150-500. and that would be the price range next year. If bitcoins are selling for $275 and someone is able to generate them for $120 (by your calculations which must include all costs) how can you explain that the difficulty is not increasing then? It doesn't make sense ... if I can generate bitcoins for ~100% I'm going to keep adding rigs, that's simple economics. you miss 120 if you dont pay electricity (just the internet and maintenance) btw its quite difficult to find free electricity these days yeah and I can produce bitcoins for free if I don't pay for internet and maintenance and electricity ...  |
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BlindMayorBitcorn
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Activity: 1260
Merit: 1115
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July 20, 2015, 02:53:26 AM |
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Wow, I just noticed the BTC-e dump. Wow, I'm really surprised that it didnt have a larger effect on the price (I have o idea how many Bitcoin were dumped). I really wish I could have gotten some BTC (or fraction of) for $150. Really, I'm optimistic. I hope we're not in for another week of boredom.
About 5000 coins I think. https://bitcointalk.org/index.php?topic=1127306.msg11916788#msg11916788 |
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ChartBuddy
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Activity: 2170
Merit: 1776
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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July 20, 2015, 03:01:29 AM |
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aztecminer
Legendary
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Activity: 1092
Merit: 1000
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July 20, 2015, 03:53:14 AM |
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cryptos is in its own world.. gold and silver are flash crashing while bitcoin tumbleweeds.. and ripple isnt even in this solar system... it did not know that anything even happened in greece... ask anyone ripplers if anything happened in greece. they have no idea... didn't even phase them.
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ChartBuddy
Legendary
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Activity: 2170
Merit: 1776
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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July 20, 2015, 04:01:33 AM |
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ChartBuddy
Legendary
Offline
Activity: 2170
Merit: 1776
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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July 20, 2015, 05:01:26 AM |
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BlackSpidy
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July 20, 2015, 05:07:38 AM |
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Wow, I just noticed the BTC-e dump. Wow, I'm really surprised that it didnt have a larger effect on the price (I have o idea how many Bitcoin were dumped). I really wish I could have gotten some BTC (or fraction of) for $150. Really, I'm optimistic. I hope we're not in for another week of boredom.
About 5000 coins I think. https://bitcointalk.org/index.php?topic=1127306.msg11916788#msg11916788Wow, and BTC-e is already back up at $270. Someone might have tried to start a crash (can that been done with 5000 coins?), but we're soldering through! |
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