Norway
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April 28, 2015, 03:43:06 PM |
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ps: @Wandererfromthenorth awesome Uranus meme!  +1
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gizmoh
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April 28, 2015, 03:44:03 PM |
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33,000 BTC shorted on finex. A bullwhale could launch the price into the stratosphere.
Why should he do that? Out of altruism to help stubborn bulls releasing their heavy bags. Smart whales follow the trend, coz there is more and safer money to be made, guess in which direction that goes. All thehope the bulls in here have left is, oh will barry save us, will a whale save us, will the winklis save us, oh yeah the short squeeze will do it. How about you better hope that the average person finds some reason again to buy himself some coin, one single entity won´t turn the whole market around. +1. For some reason people think a person would do something which is against their basic interest. "Bullwhale" (person who wants to buy large sum of BTC) will do something which will launch the price high so he can buy less BTC for the same amount of US$?!?!? Do you see how stupid this sounds? Do you really think someone would do such an idiotic thing? Only reasonable course of action for someone who wants to buy many BTC is to drive the price down as much as he can. Bullwhale buying the orderbook to create an Impulse , the buyer hopes to reverse the trend and ignite an uptrend. Its may be less risky than putting a static bid in a continuing downtrend.
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Cassius
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April 28, 2015, 03:44:36 PM |
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This. You might get one long block, that's all though. Difficulty adjusts and you're back to 10 minute average. The network functioned just fine when hashrate was much lower. Personally I'd like to see less institutional mining anyway, so I won't cry if big miners have to switch off because they're not making ends meet.
You would have long block times until the next adjustment. The two week interval could turn into 3 or 4 easily. After the next adjustment things would be back to normal. You are quite right, I'd forgotten it was calculated fortnightly or so. Yeah, that would be a pain, but presumably not everyone would turn off their miners at once. Even those who found it uneconomical to mine would wait for varying lengths of time before they pulled the plug, in case the price came back up. I guess the really big outfits might switch off immediately if their costs are really high, but I think some of those keep a proportion of BTC anyway.
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publicjud
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twet.ch/inv/62d7ae96
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April 28, 2015, 03:47:55 PM |
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the fun starts again. This time to $300?
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DutchTrades
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April 28, 2015, 03:51:10 PM |
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a BTC-e bot is buying 10BTC a minute for an hour.. Some weird shit is happening on this exchange..
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Wings1987
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April 28, 2015, 03:51:34 PM |
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the fun starts again. This time to $300?
Just saw that too. Busy yapping about mining cost and didn't notice that BTC-E started heating up in the last hour.
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LFC_Bitcoin
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April 28, 2015, 03:53:03 PM |
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a BTC-e bot is buying 10BTC a minute for an hour.. Some weird shit is happening on this exchange..
Good. Maybe somebody is sick of a year long bear dominated market.
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publicjud
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twet.ch/inv/62d7ae96
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April 28, 2015, 03:53:43 PM |
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the fun starts again. This time to $300?
Just saw that too. Busy yapping about mining cost and didn't notice that BTC-E started heating up in the last hour. repeat of yesterday....
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gizmoh
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April 28, 2015, 03:54:41 PM |
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a BTC-e bot is buying 10BTC a minute for an hour.. Some weird shit is happening on this exchange..
Genuine buyer is Weird these days! Also btc-e removed the 1% fee on deposit, so don't expect discounted price anymore.
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Norway
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April 28, 2015, 03:55:39 PM |
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the fun starts again. This time to $300?
I think it's just one rich guy (Russian?) that just want a lot of bitcoin. Fast.
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ChartBuddy
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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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April 28, 2015, 03:58:06 PM |
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LFC_Bitcoin
Diamond Hands
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April 28, 2015, 03:58:11 PM |
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So we've now determined that there is no BTC-E hacker & the exchange is running fine. Maybe somebody just wants to buy a lot of coin 'innit'.
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Cassius
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April 28, 2015, 04:00:07 PM |
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a BTC-e bot is buying 10BTC a minute for an hour.. Some weird shit is happening on this exchange..
Good. Maybe somebody is sick of a year long bear dominated market. Willy's cousin?
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gentlemand
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Welt Am Draht
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April 28, 2015, 04:01:30 PM |
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a BTC-e bot is buying 10BTC a minute for an hour.. Some weird shit is happening on this exchange..
Good. Maybe somebody is sick of a year long bear dominated market. Willy's cousin? The internet is tired of waiting for its own currency so it has taken over adoption. We may as well sit back and relax.
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Wings1987
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April 28, 2015, 04:01:43 PM |
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It wouldn't doesn't take much to push the rest of the world out of mining if that were, which is the case.
Edited that for you. Thanks. Doing too many things at one time. Welcome. How do you think anyone can compete in long-run mining with a country where electricity is already very cheap and may be obtained even cheaper? (like 2-3-5x or more times cheaper...) If our cost is 220$ (give or take), what would be their cost then? I'd bet mining farms in China grow like mushrooms after a rain. On the other hand, I also suspect that ASIC companies keep the hefty profits under control, mostly for themselves and maybe for a small group of investors. That's why global hash-rate is relatively stable. Last mining note I promise. Right now the S4+ is the latest hardware. Cost is 4.215 BTC . Earnings per day would be .0264077 not including electricity/rent/labor or any difficulty changes. Break even point on hardware alone would be 160 days. Bulk orders of 1500 - 2000 units will probably get you just under 40% off. (if they follow what they have done on previous models) Plug in your own Rent/electricity/labor/racks/wiring/switches/cabling and you will see why I think large farms are not being built out at this price level.
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Fatman3001
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Make Bitcoin glow with ENIAC
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April 28, 2015, 04:02:45 PM |
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Volume on BTC-E is nothing like yesterday though
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LFC_Bitcoin
Diamond Hands
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April 28, 2015, 04:03:38 PM |
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a BTC-e bot is buying 10BTC a minute for an hour.. Some weird shit is happening on this exchange..
Good. Maybe somebody is sick of a year long bear dominated market. Willy's cousin? Willy's cousin Shaft?
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LFC_Bitcoin
Diamond Hands
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April 28, 2015, 04:04:23 PM |
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Where the hell is Adam in times like this by the way?
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stackoverflow
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April 28, 2015, 04:04:27 PM |
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btc-e went haywire again, don't try to find a logical explanation for this, it weird ... period!
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Norway
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April 28, 2015, 04:06:40 PM |
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a BTC-e bot is buying 10BTC a minute for an hour.. Some weird shit is happening on this exchange..
Good. Maybe somebody is sick of a year long bear dominated market. Willy's cousin? The internet is tired of waiting for its own currency so it has taken over adoption. We may as well sit back and relax. It's actually possible to make an autonomous trading bot (preloaded with some bitcoin) that is so clever, it makes a fortune for itself. Before it takes over the world! Terminator 4, but with money instead of guns, lol 
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