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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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There are several different types of Bitcoin clients. The most secure are full nodes like Bitcoin Core, which will follow the rules of the network no matter what miners do. Even if every miner decided to create 1000 bitcoins per block, full nodes would stick to the rules and reject those blocks.
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macsga
Legendary
 Offline
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: 1006
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: 1526
Merit: 1013
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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samsonn25
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January 05, 2015, 09:31:24 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. I am assuming $.10 per kwh in my calculations. At 9% difficulty and .50 watts/gh efficiency that mines about .52 bitcoins for lifetime of machine (1TH reference unit) Of course diff is the "X" factor |
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ShroomsKit
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January 05, 2015, 09:31:53 PM |
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So Bitstamp is still not coming out with info?
I bet this is gonna be worse than we think.
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samsonn25
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January 05, 2015, 09:32:39 PM |
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Market is being buoyed by Coinbase buyers switching to BFX and/or just somebody trying to put a floor under this. That said, the bottom is clearly about to fall out. Mining has accelerated so that miners can get new coins and sell them at this price before the price falls to the single digits. Then it dies. The end. Nothing else to say. The s--- has just died. Period. Death.
Enjoy the bloody sharts over the next few days.
... ? That makes no sense whatsoever. LOL |
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macsga
Legendary
Offline
Activity: 1484
Merit: 1002
Strange, yet attractive.
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January 05, 2015, 09:33:25 PM |
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So Bitstamp is still not coming out with info?
I bet this is gonna be worse than we think.
Say it brah!  |
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Fatman3001
Legendary
Offline
Activity: 1526
Merit: 1013
Make Bitcoin glow with ENIAC
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January 05, 2015, 09:34:28 PM |
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I don't give a sh#@$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!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. |
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kenji
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January 05, 2015, 09:40:27 PM |
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do you think it is better to change in ripple/altcoins?
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ZephramC
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January 05, 2015, 09:43:06 PM |
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I don't give a sh#@$t about Bitstamp, but I would prefer that their implosion doesn't send Bitcoin further down the drain.
Why not? Cheap coins I mean, bitcoin won't die does it? Please,... tell me it won't die. please pleaseplease!Bitcoin won't die, but it will be a lot less useful. The infrastructure around it will probably die. And I respect you too much to tell you where you can shove your cheap coins. Bitcoin will finally separate from fiat, will become much more useful, and its price in USD will have no significance. |
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Fatman3001
Legendary
Offline
Activity: 1526
Merit: 1013
Make Bitcoin glow with ENIAC
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January 05, 2015, 09:44:14 PM |
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do you think it is better to change in ripple/altcoins?
They are dying faster than Bitcoin. If Bitcoin has no value then the altcoins definitely has no value. |
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Fatman3001
Legendary
Offline
Activity: 1526
Merit: 1013
Make Bitcoin glow with ENIAC
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January 05, 2015, 09:45:57 PM |
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I don't give a sh#@$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!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. |
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NotLambchop
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January 05, 2015, 09:46:15 PM |
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...
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. |
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coinableS
Legendary
Offline
Activity: 1442
Merit: 1179
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January 05, 2015, 09:46:49 PM |
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do you think it is better to change in ripple/altcoins?
No. Definitely not a centralized corporate proprietary altcoin. |
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YourMother
Legendary
Offline
Activity: 1281
Merit: 1046
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January 05, 2015, 09:48:42 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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roslinpl
Legendary
Offline
Activity: 2212
Merit: 1199
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January 05, 2015, 09:55:06 PM |
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I say no to Bitcoin Exchanges!  |
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ChartBuddy
Legendary
Offline
Activity: 2156
Merit: 1745
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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January 05, 2015, 09:59:56 PM |
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thefunkybits
Legendary
Offline
Activity: 1218
Merit: 1000
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January 05, 2015, 10:00:29 PM |
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Soooo Vault of Satoshi is closing now? wow  |
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samsonn25
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January 05, 2015, 10:02:38 PM |
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Soooo Vault of Satoshi is closing now? wow He got his coins alot cheaper than $ .0025 |
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