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Question: Did we reach the bottom already?
Yes - 60 (50%)
No, it's coming later this year - 44 (36.7%)
No, it's coming next year or after - 16 (13.3%)
Total Voters: 120

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 25817928 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (170 posts by 5 users with 9 merit deleted.)
Sitarow
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March 20, 2018, 08:03:39 PM
Merited by LFC_Bitcoin (1)



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?

I been pondering over how to go about this debated question. And I suppose the best way is to show that both numbers are off for the simple fact that they do not consider how long it takes to make that 1 BTC.

The fact that many don't understand what it takes to secure one bitcoin when statements like it costs fails to give the simple value at what interval is "ONE" bitcoin made.

I have put together a sheet that shows how much mining power you would need to security one BTC a day and every 12 Days since difficulty is adjusting every 12-14 days on average.

To produce one bitcoin a day using the latest hardware from Bitmain would take an investment of $2,366,417.19 USD or about 250 BTC to secure a quantity of 1,020 S9 13.5 TH ASIC mining units. That equals a total hash rate of 13,770TH or 13.77 PH.

As you can see if you factor in just hardware loan repayment and power costs never mind any other type of costs and you run at a loss at $9500.00 - There are far better investments you can do than invest 2.3 million USD instead of hardware.

However those that do mine know that BTC at this price is a buy opportunity rather than investing in hardware.

Edit add link to document: https://docs.google.com/spreadsheets/d/11QS1BBV11KNGTF8N_-fdfmjTZ3WzPQFbLfVrl5n6R8s/edit?usp=sharing

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March 20, 2018, 08:11:00 PM

As you can see if you factor in just hardware loan repayment and power costs never mind any other type of costs and you run at a loss at $9500.00 - There are far better investments you can do than invest 2.3 million USD instead of hardware.

Yeah, I would not recommend mining if your power costs are $.10/kwh. A serious mine should be down in the $.04 range.

Over 9000!
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March 20, 2018, 08:12:09 PM

As you can see if you factor in just hardware loan repayment and power costs never mind any other type of costs and you run at a loss at $9500.00 - There are far better investments you can do than invest 2.3 million USD instead of hardware.

Yeah, I would not recommend mining if your power costs are $.10/kwh. A serious mine should be down in the $.04 range.

USD 9.015 at Bitcoinaverage.

Let's hope it holds (and rises)
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March 20, 2018, 08:12:54 PM

It'z over 9ooo!

Sorry no memes available
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March 20, 2018, 08:13:32 PM

Smiley

WHo knows, maybe there were a few whales looking to buy in the auction and, when they didn't win, decided to source them from elsewhere. Plausible?
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March 20, 2018, 08:17:48 PM

Smiley

WHo knows, maybe there were a few whales looking to buy in the auction and, when they didn't win, decided to source them from elsewhere. Plausible?

Front running by insiders by knowing that 300Mio$ Tethers will be printed - price increased - you can't explain that
300Mio$ Tether will be used to pump BTC to 11k$ - you can't explain that

 Cheesy
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March 20, 2018, 08:18:25 PM
Merited by jbreher (10)

Remember: Reduce, reuse, recycle.

Here's a video I made when we first breached $9000 https://www.youtube.com/watch?v=D-ZRcMy765E
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March 20, 2018, 08:25:57 PM
Merited by xhomerx10 (1), LFC_Bitcoin (1), El duderino_ (1)

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March 20, 2018, 08:27:59 PM

Smiley

WHo knows, maybe there were a few whales looking to buy in the auction and, when they didn't win, decided to source them from elsewhere. Plausible?

Front running by insiders by knowing that 300Mio$ Tethers will be printed - price increased - you can't explain that
300Mio$ Tether will be used to pump BTC to 11k$ - you can't explain that

 Cheesy

That too. PLus... assuming Teter was all legit (fully FIAT backed up) before needing to print an additional $300M they must have used (sold) as much Tether's were "refunded" and back to them during the downtrend. So it would not be just those new Tethers being reinserted into the market. More like "the tip of the iceberg".
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March 20, 2018, 08:39:16 PM

OK and back down again.
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March 20, 2018, 08:43:14 PM

Is it a coincidence that 9000 and 20000 are just about hitting it at the same time?  Grin

edit: just as the elon rocket launch was at 05/02

nah
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March 20, 2018, 08:53:50 PM



and than back again  LOL

I really hope to see 30 000 soon folks do not call me FUDster Wink
infofront (OP)
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March 20, 2018, 08:57:29 PM

I was kind of hoping to see $3,000 soon.
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March 20, 2018, 09:03:10 PM

I was kind of hoping to see $3,000 soon.

I believe that level of correction to $3k is not really necessary and could cause more bearish results than it actually refuels.. but bouncing off of $6k again might not be a bad thing -  or even $5k - but I understand that if we go below $6k, then certainly $3k becomes a much greater possibility.. even though $3k seems quite low from this place.

Anyhow, we gots to get our little selfies below $7k first.. and recently that has not happened yet....  Tongue Tongue Tongue  

To quote an infamous variation:   "go real bitcoin go"
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March 20, 2018, 09:05:42 PM

My Bitcoins are still worth what they were worth a small part of 2017. So no complaining here:

BlackSpidy
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March 20, 2018, 09:06:39 PM

There's a difference between Being a FUDster and recognizing a downtrend. This year's gonna be bearish or flat. I doubt we'll see prices over $18K this year. I doubt we see prices below $5k this year, or ever again to be honest.
infofront (OP)
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March 20, 2018, 09:09:16 PM

I was kind of hoping to see $3,000 soon.

I believe that level of correction to $3k is not really necessary and could cause more bearish results than it actually refuels.. but bouncing off of $6k again might not be a bad thing -  or even $5k - but I understand that if we go below $6k, then certainly $3k becomes a much greater possibility.. even though $3k seems quite low from this place.

Anyhow, we gots to get our little selfies below $7k first.. and recently that has not happened yet....  Tongue Tongue Tongue  

To quote an infamous variation:   "go real bitcoin go"

I'm not complaining.  Smiley
I was just hoping to get some dirt cheap bitcorn, but it's looking increasingly likely that anything under $8,000 might be dirt cheap.
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March 20, 2018, 09:09:54 PM

What if....


Bitcoin was just a big ploy by the developers of Dragonballz to promote their show?

This whole time!


That's why the price keeps going back under and over 9000.

It's been a long time coming but well done gentlemen.
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March 20, 2018, 09:10:32 PM
Merited by JayJuanGee (1)

I was kind of hoping to see $3,000 soon.

Fuck that, although it’d be a great opportunity to load up even more bitcoin’s I’m happy enough to HODL the stash I’ve got as we go forward. I don’t want the panic of another HUGE drop % wise.
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March 20, 2018, 09:19:23 PM



/G20 until July

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