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

[realr0ach]

Am I being dumb here?

Yes, all the people who think bitcoin can go to $100k+ after one more halving are extremely dumb because price trends towards cost of production, so they're saying the equivalent that bitcoin will use more power than the entire United States probably.  I didn't do anything beyond napkin math, but $100k bitcoins with only one more halving would be LOL amounts of power consumption.

[peachcoco]

I really don't believe the fud about hitting 2k, fudsters are out in full force trying to get everyone to dump their coins on the cheap.  I believe bottom was already hit and we will never see those lows again.  There is just too much uncertainty in government currencies for bitcoin not to keep growing.

Honestly I thought the market was more mature for this type of drop to occur.  Billions of dollars have been spent on mining facilities and building power sources specifically for the mines.  

I can't post pictures without a merit?

[LFC_Bitcoin]

via Imgflip Meme Generator

TROLL feeding the UPPERTROLL

*its a nocoiner thing?*

50 Merit’s for that?
If that isn’t Merit abuse then I don’t know what is!

[realr0ach]

Billions of dollars have been spent on mining facilities and building power sources specifically for the mines.  

And those billions of dollars created a temporary, pseudo cost of production floor of around $3k.  Then after an extended bear market hits, many of them will go bankrupt like KNC did, and the temporary price floor will decrease lower. Best case scenario all miners mine at a loss and buy coins that go below their cost of production (not very plausible but whatever) and $3k floor holds.  Worst case, more plausible scenario, lots of big miners go bankrupt like they've always done and price floor drops to something like $2k, $1k, or lower.

[ivomm]

Big crash, my ass! Look at the books in BFX - 20K BTC in buy offers till $2500 vs only 5KBTC till $5300. At the same time SV is pumped - versy suspicious. I guess CW sold every BTC he had just to give 1  more day life of his shitcoin before it dies forever! Now, we are in a very good starting position. Weak hands were robbed and big trio scammers - Ver, Wu and Wright is out of Bitcoins. No need to be a prophet to predict that a bull run is imminent. I can't wait to get my salary next week to buy some more!

[LFC_Bitcoin]

Billions of dollars have been spent on mining facilities and building power sources specifically for the mines.  

And those billions of dollars created a temporary, pseudo cost of production floor of around $3k.  Then after an extended bear market hits, many of them will go bankrupt like KNC did, and the temporary price floor will decrease lower. Best case scenario all miners mine at a loss and buy coins that go below their cost of production (not very plausible but whatever) and $3k floor holds.  Worst case, more plausible scenario, lots of big miners go bankrupt like they've always done and price floor drops to something like $2k, $1k, or lower.

r0ach, your ‘expertise’ really would be much more suited to precious metals forums. Go forth & spread your wings!

You’ve done all you can do here!

[El duderino_]

via Imgflip Meme Generator

Lol game across an ibian section while shopping
Cool stuff

[El duderino_]

Billions of dollars have been spent on mining facilities and building power sources specifically for the mines.  

And those billions of dollars created a temporary, pseudo cost of production floor of around $3k.  Then after an extended bear market hits, many of them will go bankrupt like KNC did, and the temporary price floor will decrease lower. Best case scenario all miners mine at a loss and buy coins that go below their cost of production (not very plausible but whatever) and $3k floor holds.  Worst case, more plausible scenario, lots of big miners go bankrupt like they've always done and price floor drops to something like $2k, $1k, or lower.

r0ach, your ‘expertise’ really would be much more suited to precious metals forums. Go forth & spread your wings!

You’ve done all you can do here!

I do have to say that meme about me from roach.... the one with me in the Mcdonalds suit... i thought it was hilarious

[Kylapoiss]

I really don't believe the fud about hitting 2k, fudsters are out in full force trying to get everyone to dump their coins on the cheap.  I believe bottom was already hit and we will never see those lows again.  There is just too much uncertainty in government currencies for bitcoin not to keep growing.

Honestly I thought the market was more mature for this type of drop to occur.  Billions of dollars have been spent on mining facilities and building power sources specifically for the mines.  

I can't post pictures without a merit?

You seem to be a reasonable guy, so I took your merit virginity.

[El duderino_]

^
Cool HAT

BULL images are needed

[BitcoinTurk]

Oh, I am going to do one thing before I sign off for now. Since most people are off work/school today because it’s the weekend, and there should be more people on line than during the week and I have too much merit laying around, the next 5 people to respond to this thread get 30 merit.

Hello there!

[El duderino_]

^
Haha lol

[Kylapoiss]

^
Cool HAT

BULL images are needed

Oh yeah, changed my hat so we can turn this shitty market sentiment around. I still see my old one though.

[LFC_Bitcoin]

Billions of dollars have been spent on mining facilities and building power sources specifically for the mines.  

And those billions of dollars created a temporary, pseudo cost of production floor of around $3k.  Then after an extended bear market hits, many of them will go bankrupt like KNC did, and the temporary price floor will decrease lower. Best case scenario all miners mine at a loss and buy coins that go below their cost of production (not very plausible but whatever) and $3k floor holds.  Worst case, more plausible scenario, lots of big miners go bankrupt like they've always done and price floor drops to something like $2k, $1k, or lower.

r0ach, your ‘expertise’ really would be much more suited to precious metals forums. Go forth & spread your wings!

You’ve done all you can do here!

I do have to say that meme about me from roach.... the one with me in the Mcdonalds suit... i thought it was hilarious

Mic, I laughed (in a good way). Hey, not laughing at you, it will be me too
I nearly Merited him but decided not to

Oh, I am going to do one thing before I sign off for now. Since most people are off work/school today because it’s the weekend, and there should be more people on line than during the week and I have too much merit laying around, the next 5 people to respond to this thread get 30 merit.

Hello there!

Only 7 weeks late bro ha

[El duderino_]

Billions of dollars have been spent on mining facilities and building power sources specifically for the mines.  

And those billions of dollars created a temporary, pseudo cost of production floor of around $3k.  Then after an extended bear market hits, many of them will go bankrupt like KNC did, and the temporary price floor will decrease lower. Best case scenario all miners mine at a loss and buy coins that go below their cost of production (not very plausible but whatever) and $3k floor holds.  Worst case, more plausible scenario, lots of big miners go bankrupt like they've always done and price floor drops to something like $2k, $1k, or lower.

r0ach, your ‘expertise’ really would be much more suited to precious metals forums. Go forth & spread your wings!

You’ve done all you can do here!

I do have to say that meme about me from roach.... the one with me in the Mcdonalds suit... i thought it was hilarious

Mic, I laughed (in a good way). Hey, not laughing at you, it will be me too
I nearly Merited him but decided not to

Oh, I am going to do one thing before I sign off for now. Since most people are off work/school today because it’s the weekend, and there should be more people on line than during the week and I have too much merit laying around, the next 5 people to respond to this thread get 30 merit.

Hello there!

Only 7 weeks late bro ha

Really understand if you would merit that.... the tattoos the name it was hilarious

[IntroVert]

80% down from high, still possible to go further down... just dollar cost average buys, it should work out

Blood on the streets stage approaching and stuff...

[realr0ach]

Looks like the scammers at Bitmain are trying to rig the market above their cost of production now.  This is how you get the long, drawn out bear markets.  They'll do this for months until finally giving up and then it just slowly grinds lower with various miners going bankrupt just like last time.  Now the market is entirely just random slobs trying to profit off forecasting when and where Bitmain will attempt to rig it to.  If you attempt to trade it, you have to figure out if Bitmain actually wants the price to go up, or if they're trying to keep it lower to bleed out competitors first.

[Spaceman_Spiff_Original]

[TheCactus]

commiserations to those that sold at the bottom.  

Oh shit... the major!

the colonel will be alright
his bosses will tell him when to act bullish again

I always assumed you were being paid to post here. Hodl memes all the way down. 

[LFC_Bitcoin]

Looks like the scammers at Bitmain are trying to rig the market above their cost of production now.  This is how you get the long, drawn out bear markets.  They'll do this for months until finally giving up and then it just slowly grinds lower with various miners going bankrupt just like last time.  Now the market is entirely just random slobs trying to profit off forecasting when and where Bitmain will attempt to rig it to.  If you attempt to trade it, you have to figure out if Bitmain actually wants the price to go up, or if they're trying to keep it lower to bleed out competitors first.

r0ach, are you currently invested in bitcoin or do you plan to in the future?

Genuine question, just curious. You don’t have to answer but I’m sure that it’s not just me wondering.