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

[JamesBrown]

or instance, if the price would have stayed at 200$ for the first part of 2014, then it would have slowed down mining expansion and that would have meant less cost for the network and less selling pressure. Biggest buyers of coin jumped in too early and only exhausted their resources in paying the overheated and senseless mining network.

Congrats on selling @1061$! But if price was 200$ and less miners switched on because of that how would that mean less selling pressure? Please be more specific

[NotLambchop]

...
The supply is the same regardless of the number of miners.

...
How does that work? (genuine question)

A block is mined ~every ten minutes.  25 BTC block reward.  This reward could be split by a million miners, each getting a few satoshi, or by two miners, each getting 12.5 BTC.

[Mervyn_Pumpkinhead]

or instance, if the price would have stayed at 200$ for the first part of 2014, then it would have slowed down mining expansion and that would have meant less cost for the network and less selling pressure. Biggest buyers of coin jumped in too early and only exhausted their resources in paying the overheated and senseless mining network.

Congrats on selling @1061$! But if price was 200$ and less miners switched on because of that how would that mean less selling pressure? Please be more specific

The more people spend on producing coin, the bigger the sum will be that they want back to earn ROI, and the only place that they can draw money is from the market, meaning from the pockets of speculators. So, the speculators have to put more money into the market, then the miners take out, to keep the price rising. The miners can accumulate and wait, but most of them can do it for only as long as they can operate with a loss, by paying their loan, work-hours and electric bills. If the bitcoin network costs a lot to sustain, then someone has to pick up the bill, and the final bill will be payed by the speculators.

[Elwar]

Time to bring up my CPU miner.

[inca]

or instance, if the price would have stayed at 200$ for the first part of 2014, then it would have slowed down mining expansion and that would have meant less cost for the network and less selling pressure. Biggest buyers of coin jumped in too early and only exhausted their resources in paying the overheated and senseless mining network.

Congrats on selling @1061$! But if price was 200$ and less miners switched on because of that how would that mean less selling pressure? Please be more specific

The more people spend on producing coin, the bigger the sum will be that they want back to earn ROI, and the only place that they can draw money is from the market, meaning from the pockets of speculators. So, the speculators have to put more money into the market, then the miners take out, to keep the price rising. The miners can accumulate and wait, but most of them can do it for only as long as they can operate with a loss, by paying their loan, work-hours and electric bills. If the bitcoin network costs a lot to sustain, then someone has to pick up the bill, and the final bill will be payed by the speculators.

Sounds great.

But actually the market sets the price of a bitcoin - not miners. If miners cant mine profitably then they go out of business, regardless of how much money they spent on 'producing coin' and someone else does instead.

Over the longer term the bitcoin network only costs what the market will bear, nothing more.

[macsga]

Sounds great.

But actually the market sets the price of a bitcoin - not miners. If miners cant mine profitably then they go out of business, regardless of how much money they spent on 'producing coin' and someone else does instead.

Over the longer term the bitcoin network only costs what the market will bear, nothing more.

^^^
This. Really; how difficult is it for someone to understand, that every system needs an equilibrium? Hashrate Vs Price will eventually find their own. Simple as that.

[ChartBuddy]

Bitfinex

Bitstamp

Explanation

[YourMother]

I predict 1 bitcoin per day with my raspberry pi (underclocked) in 2016

[tarmi]

well, you were laughing at the "bearwhale" and his 30 k, but now I think it is clear what was his agenda: to destroy producers of asics and centralized mining centers. this is only the beginning. prepare for 100 $ coins.

[79b79aa8d5047da6d3XX]

bring them on!

[NotHatinJustTrollin]

well, you were laughing at the "bearwhale" and his 30 k, but now I think it is clear what was his agenda: to destroy producers of asics and centralized mining centers. this is only the beginning. prepare for 100 $ coins.

His "agenda" was simply to GTFO and take his 9-10 million dollars out of this free falling mess.

[macsga]

well, you were laughing at the "bearwhale" and his 30 k, but now I think it is clear what was his agenda: to destroy producers of asics and centralized mining centers. this is only the beginning. prepare for 100 $ coins.

Since the most part was "fresh" coins according to the "days destroyed" chart, this "bear whale" could as well be a great mining pool. I've posted this since sometime in June/July if I can recall right.

[luckygenough56]

"this 30K whale will be remembered when bitcoin will be 10k, we're making history"

 

[poncho32]

well, you were laughing at the "bearwhale" and his 30 k, but now I think it is clear what was his agenda: to destroy producers of asics and centralized mining centers. this is only the beginning. prepare for 100 $ coins.

His "agenda" was simply to GTFO and take his 9-10 million dollars out of this free falling mess.

He waited too long to dump then, he could have got 20 million dollars or more if he dumped earlier.

[esse83]

https://bitcoinwisdom.com/markets/cryptsy/xpybtc

 

[YourMother]

"Je suis Bu Lltard"

[NotHatinJustTrollin]

well, you were laughing at the "bearwhale" and his 30 k, but now I think it is clear what was his agenda: to destroy producers of asics and centralized mining centers. this is only the beginning. prepare for 100 $ coins.

Since the most part was "fresh" coins according to the "days destroyed" chart, this "bear whale" could as well be a great mining pool. I've posted this since sometime in June/July if I can recall right.

Actually no, it appears the 30k coins bearwhale was an early adopter from 2012 who never touched his coins before cashing out:

https://twitter.com/dan_pantera/status/519294855999406081

https://twitter.com/dan_pantera/status/519295481072324608

He waited too long to dump then, he could have got 20 million dollars or more if he dumped earlier.

AKA, a delusional permabull who dreamed too big but got a lot less in the end, eventually realised his mistake.
Some permebulls still haven't got the message though.

[JorgeStolfi]

Love how Bitcoin is such a den of thieves, scammers and con artists that we can't even keep it at one incident per week anymore.

This past week also:

CoinTerra to Users: “We Cannot Issue Any Payments”
http://newsbtc.com/2015/01/09/cointerra-users-cannot-issue-payments/

On /r/buttcoin someone posted an email message:

From: Delta Financial support@deltafinancial.com 11:33 AM
Dear clients,
Delta Financial will be ceasing its current services, including its interest account and trading products, as of January 30, 2015. Funds held in interest accounts will stop accumulating interest effective immediately.
We encourage users to log in and submit withdrawal requests for their BTC as soon as practicable. We will use our reasonable best efforts to make sure all client BTC is returned, even after we cease our current services. Effectively immediately, our trading engine will only allow you to purchase BTC, not sell. For users with USD balances over $1,000, you may request a withdrawal via wire by emailing support@deltafinancial.com.
To be clear, all user funds on our system are properly accounted for, and this closure is not the result of any security-related issues. Simply put, the financial products we wanted to build on the Bitcoin platform simply require a bigger trading volume than that what exists today.
We remain believers in the long-term potential of Bitcoin. We greatly appreciate the support from the Bitcoin community over the past year, and look forward to watching and supporting the continued growth of the Bitcoin ecosystem.
Please contact us at support@deltafinancial.com if you have any questions.

However, I haven't found any public news or announcements anywhere else.  It may be a hoax.

[inca]

So what are we guessing the bottom lies? 255? Or do we push higher and retest 300 first?

[Soureal]

BitPay ‘s 9 Layoffs Come As Ripple Begins Recruitment Drive
http://www.btcfeed.net/news/layoffs/