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

[BitcoinGirl.Club]

Woah-a-zah!!!!!   That one is even more extreme than others that I have seen.

This was unexpected. I was expecting a wall of texts 😜

[Wekkel]

JJG oneliners, BCT full of Tumbleweed. Bitcoin going sideways, ain’t it?

[cAPSLOCK]

We got Schrödinger's Kim Jong Un on second stage if anyone isn't digging the main show.

Merit for "Schrödinger's Kim Jong Un".

[DeathAngel]

I wonder how do the miners take the halving? Of course I will not like my reward to get half 😜

They’ll just have to HODL until it becomes uber profitable to sell coins mined. It’s a good thing, those bastards won’t he flooding the exchanges with their newly mined coins whilst it’s not big profit.

Some of the smaller, shittier miners might turn off their machines which also wouldn’t necessarily be bad. Coin scarcity is good which is what we’ll get due to the block reward halving, mining profits aren’t great atm so we might get a double positive with more miners HODLING for a while too which added to scarcity will do wonders for the price.

[Raja_MBZ]

Bitcoin Smart Contract Solution RSK Sees New Stablecoin and Leveraged Token

https://cointelegraph.com/news/bitcoin-smart-contract-solution-rsk-sees-new-stablecoin-and-leveraged-token

https://moneyonchain.com/

[ivomm]

20 days 15 hours

 

Bring it on!
I wonder how do the miners take the halving? Of course I will not like my reward to get half 😜

The funny thing about miners is that most of them decided to become miners and not Bitcoin investors, because investing in machines looks more stable. They think in terms of current profit and calculate that in 3 years the expenses will be covered and the big profit will start to pour into their bank accounts. This is a huge mistake. The reality is that the current machines will become completely obsolete in 2-3 years and if there is any profit at all, it will be insignificant compared to the direct investment in Bitcoin. Because of the new technology, the halving, and the rising number of miners with free or very cheap electricity (which results in rising of the difficulty), the profits will decline quckly. And this of course delays the ROI date further and further away. Buying of mining equipment makes sense to me only if you have free elecricity or you use it for heating purposes (which I do with my GPU rigs).  If I was more  informed back then and invested in Bitcoin around the prices $400, my profit at the current prices would have been still 10 times bigger than the profit of my rigs. And I was lucky to reach the ROI and get some profit. My friends  ignored my advice and bought gpu rigs instead of investing in Bitcoin. They practically lost most of their investment with an insignificant return.  Theoretically they can sell their gpus, but the prices of the new models with the same parameters is half of what they paid. So the comforting thought about selling equipment is not working either.

[JayJuanGee]

Woah-a-zah!!!!!   That one is even more extreme than others that I have seen.

This was unexpected. I was expecting a wall of texts 😜

Seems that there needs to be some interesting topic in which to spring board.

JJG oneliners, BCT full of Tumbleweed. Bitcoin going sideways, ain’t it?

We are NOT necessarily in boring times... whether we consider this as coiling or if some kind of macro environment influence is going to trigger a BTC price direction that would be other than sideways.. these remain interesting possible happenings.

I even gathered from cAPSLOCK's post that even if bitcoin were to go sideways amongst the various negative macro drama could be a kind of strong subliminal sign in regard to bitcoin's ongoing strength - which is far from uninteresting - even if NO one, here, really wants to elaborate about it.

We also have possible shitcoin explosions that might be considered less important in these times - but still interesting to see how the shitcoins play out including ongoing hope for a shitcoin season - which also is far from implausible and could even cause shitcoins to retain more pumpementals than assets that have physical costs, whether we are referring to oil or a bunch of empty buildings that used to be occupied by actual peeps.

Surely, silence could show some reluctance to attempt to analyze these situations - perhaps part of the reason that Hairy has been restraining his lil selfie to make any bold (or regular) assertions in these seemingly ongoing tryingly uncertain times.   

[rdbase]

We got Schrödinger's Kim Jong Un on second stage if anyone isn't digging the main show.

Merit for "Schrödinger's Kim Jong Un".

This seems to be the show:
https://twitter.com/zeusification/status/1252587554899099648

Doctors who operated on the leader supreme.

The nigerian princes scammed his organs.

pass the crazy pills

But he saw them coming jojo..
https://twitter.com/MozirelaFirefox/status/1252573426025476098

[JayJuanGee]

20 days 15 hours

 

Bring it on!
I wonder how do the miners take the halving? Of course I will not like my reward to get half 😜

The funny thing about miners is that most of them decided to become miners and not Bitcoin investors, because investing in machines looks more stable. They think in terms of current profit and calculate that in 3 years the expenses will be covered and the big profit will start to pour into their bank accounts. This is a huge mistake. The reality is that the current machines will become completely obsolete in 2-3 years and if there is any profit at all, it will be insignificant compared to the direct investment in Bitcoin. Because of the new technology, the halving, and the rising number of miners with free or very cheap electricity (which results in rising of the difficulty), the profits will decline quckly. And this of course delays the ROI date further and further away. Buying of mining equipment makes sense to me only if you have free elecricity or you use it for heating purposes (which I do with my GPU rigs).  If I was more  informed back then and invested in Bitcoin around the prices $400, my profit at the current prices would have been still 10 times bigger than the profit of my rigs. And I was lucky to reach the ROI and get some profit. My friends  ignored my advice and bought gpu rigs instead of investing in Bitcoin. They practically lost most of their investment with an insignificant return.  Theoretically they can sell their gpus, but the prices of the new models with the same parameters is half of what they paid. So the comforting thought about selling equipment is not working either.

While I agree with your overall premise that in the vast majority of cases, it would be more profitable to merely just buy bitcoin rather than to engage in bitcoin mining.  I do believe that there are some bitcoin miners who attempt to employ strict economic calculations, but many times they are driven by more than merely pure economics, including wanting to get more involved in bitcoin and generally tending to be ideologically committed to the idea of bitcoin.  Of course, many miners want to figure out ways to kill two or more birds with one stone in terms of both investing in a bitcoin related business and attempting to get status through their mining involvement and some attempts to find their own efficiencies maybe coupled with some luck.

Of course, with the passage of time, smaller miners would have fewer abilities to really make it BIG in mining because many times they end up joining pools rather than mining on their own or not even creating their own pools nor figuring out a way to profit from making their own pools... even though they may aspire for such levels of creativity and to expand their mining operation.

I don't really know any of these mining matters from a personal experiential level, but I have seen that there tends to be a decent amount of diversity in the kinds of miners that have been in the bitcoin space and some changes in the miners too with the passage of time and the ongoing exponential rises in hashrate, and surely there are geographical differences and including miners who ongoingly trying to figure out ways to take advantage of energy inefficiencies and surpluses that might be created in some regions because of energy inefficiencies that they can either design around or create contracts that allow them to exploit some of the cheaper energies that might exist in some regions for a period of time (whether that is hydroelectric, solar, or even gas/oil waste), and whether those miners will attempt to be mobile because of changes in regional energy costs might be another way of trying to get some efficiency advantages - and surely they might screw up their business model and profitability calculations along the way, too.. which also seems to happen because of how competitive the mining field has been, so some miners might get boxed out by other miners who figure out a better scale of production or ability to get ahold of cheaper or more powerful mining equipment.  

Surely there can be some good feelings that some larger miners might experience if they can get smaller miners to shut off some or all of their equipment, or they might be able to strategically figure out ways to turn on or turn off their own equipment to attempt to manipulate hashpower or if they might be able to work out some local deals with either local governments or with energy companies regarding their energy/tax costs that cause them to be more efficient and able to outlast some smaller miners who might end up giving up in their mining, so I would not agree with any premise that either clumps all miners into being alike or that some of the miners might NOT figure out ways to become quite profitable, while other miners might lose their asses...

[VB1001]

Bitcoin Optech Newsletter #93

This week’s newsletter summarizes a proposal for creating a unified multi-wallet backup that circumvents the inability to import BIP32 extended private keys into many wallets that support deterministic key derivation. Also included are our regular sections describing release candidates and changes to popular Bitcoin infrastructure software.

https://bitcoinops.org/

[Toxic2040]

Seems that there needs to be some interesting topic in which to spring board.

JJG oneliners, BCT full of Tumbleweed. Bitcoin going sideways, ain’t it?

[Ibian]

20 days 15 hours

 

Bring it on!
I wonder how do the miners take the halving? Of course I will not like my reward to get half 😜

The funny thing about miners is that most of them decided to become miners and not Bitcoin investors, because investing in machines looks more stable. They think in terms of current profit and calculate that in 3 years the expenses will be covered and the big profit will start to pour into their bank accounts. This is a huge mistake. The reality is that the current machines will become completely obsolete in 2-3 years and if there is any profit at all, it will be insignificant compared to the direct investment in Bitcoin. Because of the new technology, the halving, and the rising number of miners with free or very cheap electricity (which results in rising of the difficulty), the profits will decline quckly. And this of course delays the ROI date further and further away. Buying of mining equipment makes sense to me only if you have free elecricity or you use it for heating purposes (which I do with my GPU rigs).  If I was more  informed back then and invested in Bitcoin around the prices $400, my profit at the current prices would have been still 10 times bigger than the profit of my rigs. And I was lucky to reach the ROI and get some profit. My friends  ignored my advice and bought gpu rigs instead of investing in Bitcoin. They practically lost most of their investment with an insignificant return.  Theoretically they can sell their gpus, but the prices of the new models with the same parameters is half of what they paid. So the comforting thought about selling equipment is not working either.

That sounds a bit odd. Technology is always improving and hardware loses its resale value fast. It has never been relevant to me but I knew about it for as long as I can remember just from being a low-tier computer nerd. Do most people really not know what they are doing?

[Arriemoller]

If I had to point out one single item that most of all represents what I in the 80s would have thought of as truly sci-fi it's the smartphone.
It's a truly amazing gizmo, so futuristic that no one even thought about it in the 80s, at least I have not seen or read about anything like it.

[P_Shep]

20 days 15 hours

 

Bring it on!
I wonder how do the miners take the halving? Of course I will not like my reward to get half 😜

The funny thing about miners is that most of them decided to become miners and not Bitcoin investors, because investing in machines looks more stable. They think in terms of current profit and calculate that in 3 years the expenses will be covered and the big profit will start to pour into their bank accounts. This is a huge mistake. The reality is that the current machines will become completely obsolete in 2-3 years and if there is any profit at all, it will be insignificant compared to the direct investment in Bitcoin. Because of the new technology, the halving, and the rising number of miners with free or very cheap electricity (which results in rising of the difficulty), the profits will decline quckly. And this of course delays the ROI date further and further away. Buying of mining equipment makes sense to me only if you have free elecricity or you use it for heating purposes (which I do with my GPU rigs).  If I was more  informed back then and invested in Bitcoin around the prices $400, my profit at the current prices would have been still 10 times bigger than the profit of my rigs. And I was lucky to reach the ROI and get some profit. My friends  ignored my advice and bought gpu rigs instead of investing in Bitcoin. They practically lost most of their investment with an insignificant return.  Theoretically they can sell their gpus, but the prices of the new models with the same parameters is half of what they paid. So the comforting thought about selling equipment is not working either.

At some point miners are only going to get so efficient - that'll be the great leveller.
Once that happens, I might get back into mining.

[VB1001]

‘Cointelegraph Talks’ Online Meetup to Discuss E-Payments and Digital Dollar

Cointelegraph Talks’ first event kicks off at 3:00 PM EST on April 21, featuring topics on e-payments amid coronavirus and the digital dollar.

The first Cointelegraph Talks event kicks off at 3:00 PM EST on Tuesday, April 21, featuring major industry figures including Binance.US CEO Catherine Coley and Robert Beadles, president at blockchain company Monarch. The meetup’s live stream will be available on Cointelegraph’s YouTube channel.

https://cointelegraph.com/news/cointelegraph-talks-online-meetup-to-discuss-e-payments-and-digital-dollar

[Biodom]

If I had to point out one single item that most of all represents what I in the 80s would have thought of as truly sci-fi it's the smartphone.
It's a truly amazing gizmo, so futuristic that no one even thought about it in the 80s, at least I have not seen or read about anything like it.

maybe so for the current form, but not in general:
https://www.destination-innovation.com/how-startrek-inspired-an-innovation-your-cell-phone/
or
https://www.forbes.com/sites/michaelvenables/2013/04/03/captain-kirks-call-to-spock/#1ce42077a92c

btw, sci-fi already described various currently nonexistent cell phone forms, including mostly transparent.

[Elwar]

I saw this on CNN...a bunch of rangers in South Dakota breaking social distancing laws.

[Last of the V8s]

So how much energy do you get if you burn up 6,000 bushels of corn and how many bitcorns does that mine?
https://www.cmegroup.com/trading/agricultural/grain-and-oilseed/corn.html

[jojo69]

At some point miners are only going to get so efficient - that'll be the great leveller.
Once that happens, I might get back into mining.

I fully expected by this point in time to be able to purchase a 4U 1600W unit for about 1 coin that would reliably ROI in about 2 years.

In many ways this timeline is not the one I expected.

[Hyperjacked]

Hmmm looks like we might be heading north !