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Question: Will we close Nov. at or above Plan B's posited minimum of $98K?
Yes - 43 (37.4%)
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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 25492567 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. (158 posts by 14 users with 9 merit deleted.)
Phil_S
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March 10, 2020, 04:57:11 PM

But obviously the miners are living paycheck to paycheck like the rest of the world. They sell as soon as they get bitcoin.

I remember reading some financial reports from a public mining company, they mined 2000 bitcoins and kept 250.
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goldkingcoiner
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March 10, 2020, 04:59:32 PM

@holland guys, all big events cancelled and schools closing in Brabant.... my friend says news keeps coming in

So what are people doing? Sitting at home eating toilet paper? I am thinking of getting one of those unbelievably cheap flights to Italy. 25 21 Euros. I might as well fly over to buy fancy Italian toilet paper.
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March 10, 2020, 05:01:36 PM
Merited by bones261 (2), LFC_Bitcoin (1)

Retest of logarthmic curve, calling the bottom here

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March 10, 2020, 05:12:09 PM

@holland guys, all big events cancelled and schools closing in Brabant.... my friend says news keeps coming in

So what are people doing? Sitting at home eating toilet paper? I am thinking of getting one of those unbelievably cheap flights to Italy. 25 21 Euros. I might as well fly over to buy fancy Italian toilet paper.


 Eating toilet paper would be more advisable than watching "A Rainy Day in New York".
Phil_S
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March 10, 2020, 05:14:08 PM

ah yes yes, "2x per year" support line still works nicely.
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March 10, 2020, 05:15:53 PM

People keep telling me the halving is priced in.

But obviously the miners are living paycheck to paycheck like the rest of the world. They sell as soon as they get bitcoin.

People can pay wholesale prices for bitcoin right now.

At the halving, that wholesale cost will be the same but the miners reward will be cut in half.

One article I read said that 25% of all bitcoins sent to the exchanges are from miners to sell. That amount will soon be cut to 12%. A lot less people selling on a regular basis.
Well, it's pretty simple to figure out. Miners cost money that is amortized over say 12 months. So every month they have to cash in 1/12th of the miner cost plus interest.
Warehouse space is cheap but not zero. And unless they use slaves to tend the miner there are a few of those as well.
Electricity has to cost something. Unless they are stealing power (not going to work for a mine) there have to be costs there.

So either miners close shop after the halving or price goes up. We could lose 50% of the miners and still have insanely high difficulty. We'll see where it goes.
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March 10, 2020, 05:21:11 PM

2 is not enough. It takes more than that just for the species to survive. And the older she is the dumber and sicker the kid will be.
You aren't accounting for increases in life expectancy, or the fact that rejuvenation is slowly being treated very seriously.
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March 10, 2020, 05:21:44 PM

@holland guys, all big events cancelled and schools closing in Brabant.... my friend says news keeps coming in

So what are people doing? Sitting at home eating toilet paper? I am thinking of getting one of those unbelievably cheap flights to Italy. 25 21 Euros. I might as well fly over to buy fancy Italian toilet paper.


 Eating toilet paper would be more advisable than watching "A Rainy Day in New York".


bad?

People keep telling me the halving is priced in.

But obviously the miners are living paycheck to paycheck like the rest of the world. They sell as soon as they get bitcoin.

People can pay wholesale prices for bitcoin right now.

At the halving, that wholesale cost will be the same but the miners reward will be cut in half.

One article I read said that 25% of all bitcoins sent to the exchanges are from miners to sell. That amount will soon be cut to 12%. A lot less people selling on a regular basis.
Well, it's pretty simple to figure out. Miners cost money that is amortized over say 12 months. So every month they have to cash in 1/12th of the miner cost plus interest.
Warehouse space is cheap but not zero. And unless they use slaves to tend the miner there are a few of those as well.
Electricity has to cost something. Unless they are stealing power (not going to work for a mine) there have to be costs there.

So either miners close shop after the halving or price goes up. We could lose 50% of the miners and still have insanely high difficulty. We'll see where it goes.


The more miners we lose, the better. Supply and demand takes over 100% and we see a dramatic rise in price.
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March 10, 2020, 05:23:13 PM
Merited by Lambie Slayer (1)

Trump's got about 5 minutes left. The National Guard's been called out to New Rochelle. All round there is where the Wall Street bigwigs have their residences. The virus has hit Wall Street and the market correction is gonna be yuuge. Our coin's gonna leap up too.
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March 10, 2020, 05:32:32 PM

The more miners we lose, the better. Supply and demand takes over 100% and we see a dramatic rise in price.
I really hope you are kidding or I'm misisng something.
Wouldn't decrease in miners destroy the coin eventually? I would be more pleasant to see more miners than BTC get $100000
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March 10, 2020, 05:36:15 PM

The more miners we lose, the better. Supply and demand takes over 100% and we see a dramatic rise in price.
I really hope you are kidding or I'm misisng something.
Wouldn't decrease in miners destroy the coin eventually? I would be more pleasant to see more miners than BTC get $100000

Obviously not ALL miners. we need some miners for transactions. Actually no, I am just talking BS. Difficulty would fall, making my theory nonsense. Sorry. Carry on.
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March 10, 2020, 05:38:54 PM

The more miners we lose, the better. Supply and demand takes over 100% and we see a dramatic rise in price.
I really hope you are kidding or I'm misisng something.
Wouldn't decrease in miners destroy the coin eventually? I would be more pleasant to see more miners than BTC get $100000

Obviously not ALL miners. we need some miners for transactions.
Then it would be easy to manipulate the network by a group of people or a company with big investment which is quite impossible now.
Last of the V8s
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March 10, 2020, 05:39:38 PM

There are always plenty of miners. Hashrate goes ever up. The worries about mining death spiral are just that - worries, and they never turn out real.
VB1001
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March 10, 2020, 05:40:04 PM
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https://www.worldometers.info/coronavirus/
https://imgur.com/gallery/sMjTheN

xhomerx10, soon we will change the hats for masks...

StrongHats
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March 10, 2020, 05:43:38 PM
Merited by JayJuanGee (1), mindrust (1)

Another update of BitcoinCharts ....

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#bitcoin halving candles - less than 2 months to go



Source: https://twitter.com/ChartsBtc/status/1237384025137799168
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March 10, 2020, 05:44:51 PM


https://twitter.com/MarkJHandley

This is definitely not looking good, and as I hear the European Football Championship this summer is in big question, there is a possibility of postponement for the next year.
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March 10, 2020, 05:47:36 PM

Cuomos the same guy who banned plastic bags.....well plastic bags would be a HECK OF A LOT better than reusable bags right now.
lightfoot
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March 10, 2020, 05:48:08 PM

The more miners we lose, the better. Supply and demand takes over 100% and we see a dramatic rise in price.
Um. no. If miners quit the difficulty adjusts downward and the supply stays exactly the same: 12.5 bitcoins (or 6.25) every 10 minutes.

The security of the network goes down but at this point it would go from "Even God can't reverse a transaction over 1 confirmation" to "wait two confirmations if you believe in God that much"
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March 10, 2020, 05:49:12 PM

Finally, the memes now going to be true?
https://www.forbes.com/sites/rogerhuang/2020/03/09/who-encourages-use-of-digital-payments-due-to-covid-19
Elwar
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March 10, 2020, 05:53:30 PM

Cuomos the same guy who banned plastic bags.....well plastic bags would be a HECK OF A LOT better than reusable bags right now.

You know...the plastic bag ban is only against the grocery stores...

You can bring your own.
https://www.amazon.com/TashiBox-Thank-Bags-Reusable-Grocery/dp/B01GNWA6JI/ref=sr_1_24?keywords=plastic+bags+roll&qid=1583862691&sr=8-24
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