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

[samsonn25]

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.

I am assuming $.10 per kwh in my calculations. At 9% difficulty and .50 watts/gh efficiency that mines about .52 bitcoins for lifetime of machine (1TH reference unit)

Of course diff is the "X" factor

[ShroomsKit]

So Bitstamp is still not coming out with info?
I bet this is gonna be worse than we think.

[samsonn25]

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.

LOL

[macsga]

So Bitstamp is still not coming out with info?
I bet this is gonna be worse than we think.

Say it brah!

[Fatman3001]

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
please
please!

Bitcoin won't die, but it will be a lot less useful. The infrastructure around it will probably die. And I respect you too much to tell you where you can shove your cheap coins.

[kenji]

do you think it is better to change in ripple/altcoins?

[ZephramC]

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
please
please!

Bitcoin won't die, but it will be a lot less useful. The infrastructure around it will probably die. And I respect you too much to tell you where you can shove your cheap coins.

Bitcoin will finally separate from fiat, will become much more useful, and its price in USD will have no significance.

[Fatman3001]

do you think it is better to change in ripple/altcoins?

They are dying faster than Bitcoin. If Bitcoin has no value then the altcoins definitely has no value.

[Fatman3001]

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
please
please!

Bitcoin won't die, but it will be a lot less useful. The infrastructure around it will probably die. And I respect you too much to tell you where you can shove your cheap coins.

Bitcoin will finally separate from fiat, will become much more useful, and its price in USD will have no significance.

Although I have said "TO DA MOON!!!" quite a lot myself as well, I don't actually live on the moon; yet. Until then, fiat matters.

[NotLambchop]

...
Bitcoin will finally separate from fiat, will become much more useful, and its price in USD will have no significance.

That's like poker chips you can't cash in, or money that doesn't buy anything--pointless.

[coinableS]

do you think it is better to change in ripple/altcoins?

No. Definitely not a centralized corporate proprietary altcoin.  

[YourMother]

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.

[roslinpl]

Explanation

I say no to Bitcoin Exchanges!

[ChartBuddy]

Explanation

[thefunkybits]

Soooo Vault of Satoshi is closing now?

wow 

[samsonn25]

Soooo Vault of Satoshi is closing now?

wow 

He got his coins  alot cheaper than $ .0025

[ChuckBuck]

Soooo Vault of Satoshi is closing now?

wow 

Yup, another BTC exchange bites the dust:

http://cointelegraph.com/news/113250/founders-close-vault-of-satoshi-so-they-can-focus-on-new-business-

Looks like some of the smaller ones may follow suit.

Stamp, please don't Gox us...

[Jammalan the Prophet]

Soooo Vault of Satoshi is closing now?

wow 

Our founders and team of developers began work on a new, non-cryptocurrency project about 6 months ago, which has since become quite successful. We are forced to make a choice on where to expend our efforts, as we simply do not have time to continue operating both businesses. We feel splitting our focus would be a disservice to the customers of Vault, so although our competitors may lack some of the features, currencies, and innovations that Vault brought to the Canadian market, they will serve you well for your basic exchange needs.

Much trust , such crypto future , amazing!

[KJO]

It would not surprise me  at all if Satoshi himself was the one destroying bitcoin. Maybe he doesnt like how it turned out and sees that the vehicle he created for the benefit of mankind has been turned into a cesspool of greed, filth, criminal activity, incompetent exchanges, and sleezy characters.

I am non-partisan but I just dont see a future for bitcoin anymore. it literally has nothing going for it with nothing to change in the future as traders continue to drive the price into the ground. Bitcoin has destroyed itself. I am out and not coming back.

[jeliman]

Soooo Vault of Satoshi is closing now?

wow 

Yup, another BTC exchange bites the dust:

http://cointelegraph.com/news/113250/founders-close-vault-of-satoshi-so-they-can-focus-on-new-business-

Looks like some of the smaller ones may follow suit.

Stamp, please don't Gox us...

bitstamp is not gox !!
hopefully....