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dakota neat
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January 05, 2015, 08:31:51 PM |
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So now Bitstamp has to buy back its 18K BTC on the market asap
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gizmoh
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Activity: 1428
Merit: 1000
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January 05, 2015, 08:38:25 PM |
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So now Bitstamp has to buy back its 18K BTC on the market asap
Buying 18k on Finex, thereby strangling the shorters  |
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Tzupy
Legendary
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Activity: 2198
Merit: 1094
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January 05, 2015, 08:38:57 PM |
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So now Bitstamp has to buy back its 18K BTC on the market asap
Not necessarily. They could dump inexistent coins and buy them back later at a much lower price. A sort of reverse Willy. |
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Son0fLamb
Newbie
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Activity: 28
Merit: 0
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January 05, 2015, 08:41:38 PM |
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Meanwhile, network hash rate accelerates upward  Someone must have fallen and hit their head. I can't believe that many are still making money mining. I think that well-positioned miners are still making very good money selling at this rate. Casual miners in the west -- not so much. But established miners with good access to new generation chips and cheap electricity (in China, etc), I believe can still be profitable. I remember seeing numbers thrown around, but cannot recall them now, though. Once the chips are taped out, they will mine--that's sunk costs. Take KNC, for instance. As long as (selfhosting costs) + (cost of gluing the chips to boards} < price of coins mined, mining is going to happen. Doesn't mean KNC will make money (may not recoup investment), but the losses would be far greater if the chips were tossed into dumpsters. |
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samsonn25
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January 05, 2015, 08:44:42 PM |
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The chart is no too proportional |
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JorgeStolfi
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January 05, 2015, 08:45:24 PM |
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If this was 2013 or earlier, news like BitStamp hack would have caused immediate dumping on all exchanges, but there's only been a slight depress in the price following release of the news.
Could it be that (ahem!) China still sets the price, and the Chinese do not care about Bitstamp? |
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samsonn25
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January 05, 2015, 08:47:15 PM |
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So now Bitstamp has to buy back its 18K BTC on the market asap
Not necessarily. They could dump inexistent coins and buy them back later at a much lower price. A sort of reverse Willy. Traders do this everyday. Called shorting Actually the coins are borrowed from long holders or equity is put in place as collateral. |
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Fatman3001
Legendary
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Activity: 1554
Merit: 1014
Make Bitcoin glow with ENIAC
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January 05, 2015, 08:50:02 PM |
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Meanwhile, network hash rate accelerates upward Someone must have fallen and hit their head. I can't believe that many are still making money mining. I think that well-positioned miners are still making very good money selling at this rate. Casual miners in the west -- not so much. But established miners with good access to new generation chips and cheap electricity (in China, etc), I believe can still be profitable. I remember seeing numbers thrown around, but cannot recall them now, though. Yes, but a hundred dollar drop from a month ago when it was already tight. And now they are increasing hashrate? If the price doesn't bounce back hashrate will have to flatten again, if not fall. Not all of the network is in China, yet. |
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Tzupy
Legendary
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Activity: 2198
Merit: 1094
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January 05, 2015, 08:52:03 PM |
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So now Bitstamp has to buy back its 18K BTC on the market asap
Not necessarily. They could dump inexistent coins and buy them back later at a much lower price. A sort of reverse Willy. Traders do this everyday. Called shorting Actually the coins are borrowed from long holders or equity is put in place as collateral. I know it's called shorting, I'm doing it too. But Bistamp could do this on a large scale without collateral and front run the market. |
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samsonn25
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January 05, 2015, 08:55:22 PM |
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I think large mining operations are fcked with rising diff
With mostly the overhead costs
Owner/manufacturers like Bitfury, Knc, and Bitmain lose less because they can get the equipment at pretty much the lowest cost.
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ChartBuddy
Legendary
 Online
Activity: 2660
Merit: 2364
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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January 05, 2015, 08:59:58 PM |
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Gyrsur
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Activity: 2856
Merit: 1520
Bitcoin Legal Tender Countries: 2 of 206
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January 05, 2015, 09:00:53 PM |
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Fatman3001
Legendary
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Activity: 1554
Merit: 1014
Make Bitcoin glow with ENIAC
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January 05, 2015, 09:02:34 PM |
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Stamp needs to get online and give us some numbers soon, or this mofo is going to sink like an anvil. |
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findftp
Legendary
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Activity: 1022
Merit: 1012
Delusional crypto obsessionist
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January 05, 2015, 09:18:54 PM |
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Stamp needs to get online and give us some numbers soon, or this mofo is going to sink like an anvil. I'm very happy to only have 0,07 BTC over there which I received for trading some worthless shit ripple I once got in the past for beta testing. Since I had to verify I went to finex, fuck that shit. I'm happy to trade on finex and btc-e Never lost a coin on any exchange other than making mistakes with trading  Overall profit ofcourse |
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Fatman3001
Legendary
Offline
Activity: 1554
Merit: 1014
Make Bitcoin glow with ENIAC
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January 05, 2015, 09:23:45 PM |
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Stamp needs to get online and give us some numbers soon, or this mofo is going to sink like an anvil. I'm very happy to only have 0,07 BTC over there which I received for trading some worthless shit ripple I once got in the past for beta testing. Since I had to verify I went to finex, fuck that shit. I'm happy to trade on finex and btc-e Never lost a coin on any exchange other than making mistakes with trading Overall profit ofcourse I don't give a sh#@$t about Bitstamp, but I would prefer that their implosion doesn't send Bitcoin further down the drain. |
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Newbie1022
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January 05, 2015, 09:24:19 PM |
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Market is being buoyed by Coinbase buyers switching to BFX and/or just somebody trying to put a floor under this. That said, the bottom is clearly about to fall out. Mining has accelerated so that miners can get new coins and sell them at this price before the price falls to the single digits. Then it dies. The end. Nothing else to say. The s--- has just died. Period. Death.
Enjoy the bloody sharts over the next few days.
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macsga
Legendary
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Activity: 1484
Merit: 1002
Strange, yet attractive.
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January 05, 2015, 09:24:27 PM |
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I think large mining operations are fcked with rising diff
With mostly the overhead costs
Owner/manufacturers like Bitfury, Knc, and Bitmain lose less because they can get the equipment at pretty much the lowest cost.
There's also the electricity costs. These things are not running on air. |
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findftp
Legendary
Offline
Activity: 1022
Merit: 1012
Delusional crypto obsessionist
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January 05, 2015, 09:27:27 PM |
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I don't give a sh#@$t about Bitstamp, but I would prefer that their implosion doesn't send Bitcoin further down the drain.
Why not? Cheap coins I mean, bitcoin won't die does it? Please,... tell me it won't die. please pleaseplease! |
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Fatman3001
Legendary
Offline
Activity: 1554
Merit: 1014
Make Bitcoin glow with ENIAC
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January 05, 2015, 09:29:27 PM |
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Market is being buoyed by Coinbase buyers switching to BFX and/or just somebody trying to put a floor under this. That said, the bottom is clearly about to fall out. Mining has accelerated so that miners can get new coins and sell them at this price before the price falls to the single digits. Then it dies. The end. Nothing else to say. The s--- has just died. Period. Death.
Enjoy the bloody sharts over the next few days.
... ? That makes no sense whatsoever. |
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