Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[marcus_of_augustus]

G20 holds fire on crypto-regulation ... way clear for ETFs?

No.  G20 says crypto too small to regulate. SEC says crypto too small for ETFs.

NO no, not exactly. SEC said there were no regulated exchanges trading bitcoin so ETF was on hodl. CBOE and CME now both trading bitcoin futures ... so I call your no and raise you a big NO.

Bitcoin futures on CBOE and CME aren’t trading Bitcoin.  They are cash settled ...

I never said otherwise and am well aware of that.

But how do you think they are hedging those cash-settled futures positions? With weather futures?

Seems to be quite a few irate bears trying to defend their positions around here ... feeling a bit salty about those shorts gone on at the death-cross?

Anyone with experience in commodities markets knows that you don't put shorts on at cost-of-production prices ... that's suicidal picking up pennies in front of the steam-roller trading.

[marcus_of_augustus]

Anyone who talks about the 'cost of production' can be immediately ignored as they obviously dont understand the most fundamental concepts about bitcoin.

hahaha ... fuck tera how can you still not get it after all these years? has that cancer spread to your brain or something?

[fragout]

Wow. The second the daily candle closed +$200 and counting.
The misery index was ATL today.
FSB news seems to be the kick btc needed.
Remember, all or most of the new cash that came into crypto last year is still there, although it has likely changed hands in a lot of cases.

[BitcoinBunny]

[scum]

Cointelegraph recently posted an article estimating that most miners are barely breaking even at $8000. There's other news outlets running articles with the same mining's no longer profitable theme.

wait just a minute

The FUDsters have been in here claiming that BTC is going to fall to the cost of production, which they put around @1000.

Just which the hell is it?

At current difficulty, mining 1 BTC costs around $3000-$4000 depending on electricity costs - not including capital outlay.

The cointelegraph article says replacing equipment costs more than half of the cost of production.


https://cointelegraph.com/news/fundstrats-tom-lee-reports-bitcoin-mining-now-less-profitable-due-to-falling-btc-prices

The model Fundstrat used for calculating the cost of mining one BTC includes the cost of equipment, overhead such as sustaining cooling apparatuses, and the cost of electricity, assumed to be 6 cents per kilowatt. The head of quantitative data science at Fundstrat, Sam Doctor, said that the cost of replacing equipment takes up more than half of the overall cost of mining.

[bones261]

Should we shed a tear for many of the bears today? 



Hello, this is your margin call.

[Anon136]

FSB news seems to be the kick btc needed.

What is this "FSB news" that you speak of?

[bluebits]

Something is wrong. This glade is alot shorter than predicted.

The drop got ahead of itself here? The price is anchored by the most recent traded price, that is all there really is with something like BTC. Mar 7 dump seemed to spook things. If destiny remains 5.5k, this mini pump could mirror something like Jan 17 or Feb 2. A run up to mid/hi 8s, then resume panic crash mode?

[scum]

FSB news seems to be the kick btc needed.

What is this "FSB news" that you speak of?

The Financial Stability Board (FSB) decided to go easy on bitcoin.


https://www.reuters.com/article/us-g20-regulations-carney/g20-watchdog-focuses-on-rules-review-holds-fire-on-cryptocurrencies-idUSKBN1GU0SF

The Financial Stability Board (FSB), which coordinates financial regulation for the Group of 20 Economies, also resisted calls from some G20 members to regulate cryptocurrencies like bitcoin.

[Last of the V8s]

FSB news seems to be the kick btc needed.

What is this "FSB news" that you speak of?

One international agency (financial stability) announced to the G20 it's not going to regulate 'cryptoassets'.
The knife will come when we hear the AML agency's (FATF) report.

edit: oh hey! thanks

[BlindMayorBitcorn]

Just checking in. Is it safe?

[Last of the V8s]

Just checking in. Is it safe?

Hi! Notrly safe. Maybe for a few days. Then more nasties. Unless miracles.

[BlindMayorBitcorn]

Just checking in. Is it safe?

Hi! Notrly safe. Maybe for a few days. Then more nasties. Unless miracles.

I entered the market during a downturn about exactly as disgusting as this one. I was slopping around like a pig in cheap coins while everybody around me was losing their shit. The karma is killing me.

[d_eddie]

Just checking in. Is it safe?

Mayor! Good to see your head out of the sand. Jimbo also got in just a minute to say hello. Regards to Rosewater. Need a shovel before you go or is that hole on the beach still good?

[Rosewater Foundation]

I'm going to miss the mayor though

Mayor! Good to see your head out of the sand.

[jojo69]

Cointelegraph recently posted an article estimating that most miners are barely breaking even at $8000. There's other news outlets running articles with the same mining's no longer profitable theme.

wait just a minute

The FUDsters have been in here claiming that BTC is going to fall to the cost of production, which they put around @1000.

Just which the hell is it?

At current difficulty, mining 1 BTC costs around $3000-$4000 depending on electricity costs - not including capital outlay.

Again...they cost $4000 to mine and they can't make money selling them for $8000?

which the fuck is it?

edit 1/

Oh hey

da Mayor in da House yo

edit 2/

OMG guys, I just figured out what this means; Bitcoin really is a tool created by a three letter agency...only the government could lose money selling something at a 100% markup.

[Rosewater Foundation]

Should we be looking to the Futures after all? Did they call this and then make it happen?

[Last of the V8s]

Should we be looking to the Futures after all? Did they call this and then make it happen?

No it was your Mark Carney. The other day he was all 'it's such shit'. Just today though he's like 'meh it's too small to give a shit.'
Or it was TA lol.

[Rosewater Foundation]

Should we be looking to the Futures after all? Did they call this and then make it happen?

No it was your Mark Carney. The other day he was all 'it's such shit'. Just today though he's like 'meh it's too small to give a shit.'

Snowbird got nothin' better to do. smh

[scum]

At current difficulty, mining 1 BTC costs around $3000-$4000 depending on electricity costs - not including capital outlay.

Again...they cost $4000 to mine and they can't make money selling them for $8000?

which the fuck is it?

It's $3000-$4000 in electricity to mine a bitcoin plus $4000 in equipment costs. The electricity plus mining equipment costs makes it about $8000 to mine a coin.

At least that's what cointelegraph says. The mining equipment must be fucking expensive, and miners must need a hell of a lot of it judging by this mine.