SheHadMANHands
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Activity: 1168
Merit: 1000
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July 20, 2015, 01:02:49 AM |
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lol was that the big crash?  |
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Torque
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Activity: 3822
Merit: 5504
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July 20, 2015, 01:24:00 AM |
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I find it interesting the falling sell pressure on the 12h. Clearly someone thinks we're bottoming out soon, and wants to go up. StochRSI has bottomed here as well.
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marcus_of_augustus
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Activity: 3920
Merit: 2350
Eadem mutata resurgo
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July 20, 2015, 01:39:11 AM |
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... now less than 55,000 blocks until the rate of issuance halving. Any demand on the sidelines waiting for lower prices have a time cost for delaying.
How is that ? Mining difficulty has almost flat-lined now for a few months which indicates bitcoin price is very close to marginal 'average' cost of production. At halving cost of production effectively doubles (same difficulty for half the reward) ... you should be able to do the rest of the math from there. |
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noobtrader
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Activity: 1456
Merit: 1000
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July 20, 2015, 01:57:23 AM |
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... now less than 55,000 blocks until the rate of issuance halving. Any demand on the sidelines waiting for lower prices have a time cost for delaying.
How is that ? Mining difficulty has almost flat-lined now for a few months which indicates bitcoin price is very close to marginal 'average' cost of production. At halving cost of production effectively doubles (same difficulty for half the reward) ... you should be able to do the rest of the math from there. as i posted few month ago, i predict that the cost of production atm is about 120-250 usd (120 if you dont pay electricity), now the difficulty is about maybe 5% higher. at next halfing then cost of production is 150-500. and that would be the price range next year. |
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marcus_of_augustus
Legendary
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Activity: 3920
Merit: 2350
Eadem mutata resurgo
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July 20, 2015, 02:00:55 AM
Last edit: July 20, 2015, 02:51:47 AM by marcus_of_augustus |
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... now less than 55,000 blocks until the rate of issuance halving. Any demand on the sidelines waiting for lower prices have a time cost for delaying.
How is that ? Mining difficulty has almost flat-lined now for a few months which indicates bitcoin price is very close to marginal 'average' cost of production. At halving cost of production effectively doubles (same difficulty for half the reward) ... you should be able to do the rest of the math from there. as i posted few month ago, i predict that the cost of production atm is about 120-250 usd (120 if you dont pay electricity), now the difficulty is about maybe 5% higher. at next halfing then cost of production is 150-500. and that would be the price range next year. If bitcoins are selling for $275 and someone is able to generate them for $120 (by your calculations which must include all costs) how can you explain that the difficulty is not increasing then? It doesn't make sense ... if I can generate bitcoins for ~100% profit I'm going to keep adding rigs, that's simple economics. |
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ChartBuddy
Legendary
 Online
Activity: 2898
Merit: 2483
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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July 20, 2015, 02:01:28 AM |
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noobtrader
Legendary
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Activity: 1456
Merit: 1000
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July 20, 2015, 02:03:31 AM |
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... now less than 55,000 blocks until the rate of issuance halving. Any demand on the sidelines waiting for lower prices have a time cost for delaying.
How is that ? Mining difficulty has almost flat-lined now for a few months which indicates bitcoin price is very close to marginal 'average' cost of production. At halving cost of production effectively doubles (same difficulty for half the reward) ... you should be able to do the rest of the math from there. as i posted few month ago, i predict that the cost of production atm is about 120-250 usd (120 if you dont pay electricity), now the difficulty is about maybe 5% higher. at next halfing then cost of production is 150-500. and that would be the price range next year. If bitcoins are selling for $275 and someone is able to generate them for $120 (by your calculations which must include all costs) how can you explain that the difficulty is not increasing then? It doesn't make sense ... if I can generate bitcoins for ~100% I'm going to keep adding rigs, that's simple economics. you miss 120 if you dont pay electricity (just the internet and maintenance) btw its quite difficult to find free electricity these days  |
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BlackSpidy
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July 20, 2015, 02:40:12 AM |
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Wow, I just noticed the BTC-e dump. Wow, I'm really surprised that it didnt have a larger effect on the price (I have o idea how many Bitcoin were dumped). I really wish I could have gotten some BTC (or fraction of) for $150. Really, I'm optimistic. I hope we're not in for another week of boredom.
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marcus_of_augustus
Legendary
Offline
Activity: 3920
Merit: 2350
Eadem mutata resurgo
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July 20, 2015, 02:50:45 AM |
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... now less than 55,000 blocks until the rate of issuance halving. Any demand on the sidelines waiting for lower prices have a time cost for delaying.
How is that ? Mining difficulty has almost flat-lined now for a few months which indicates bitcoin price is very close to marginal 'average' cost of production. At halving cost of production effectively doubles (same difficulty for half the reward) ... you should be able to do the rest of the math from there. as i posted few month ago, i predict that the cost of production atm is about 120-250 usd (120 if you dont pay electricity), now the difficulty is about maybe 5% higher. at next halfing then cost of production is 150-500. and that would be the price range next year. If bitcoins are selling for $275 and someone is able to generate them for $120 (by your calculations which must include all costs) how can you explain that the difficulty is not increasing then? It doesn't make sense ... if I can generate bitcoins for ~100% I'm going to keep adding rigs, that's simple economics. you miss 120 if you dont pay electricity (just the internet and maintenance) btw its quite difficult to find free electricity these days yeah and I can produce bitcoins for free if I don't pay for internet and maintenance and electricity ...  |
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BlindMayorBitcorn
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Activity: 1260
Merit: 1116
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July 20, 2015, 02:53:26 AM |
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Wow, I just noticed the BTC-e dump. Wow, I'm really surprised that it didnt have a larger effect on the price (I have o idea how many Bitcoin were dumped). I really wish I could have gotten some BTC (or fraction of) for $150. Really, I'm optimistic. I hope we're not in for another week of boredom.
About 5000 coins I think. https://bitcointalk.org/index.php?topic=1127306.msg11916788#msg11916788 |
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ChartBuddy
Legendary
Online
Activity: 2898
Merit: 2483
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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July 20, 2015, 03:01:29 AM |
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aztecminer
Legendary
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Activity: 1092
Merit: 1000
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July 20, 2015, 03:53:14 AM |
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cryptos is in its own world.. gold and silver are flash crashing while bitcoin tumbleweeds.. and ripple isnt even in this solar system... it did not know that anything even happened in greece... ask anyone ripplers if anything happened in greece. they have no idea... didn't even phase them.
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ChartBuddy
Legendary
Online
Activity: 2898
Merit: 2483
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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July 20, 2015, 04:01:33 AM |
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ChartBuddy
Legendary
Online
Activity: 2898
Merit: 2483
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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July 20, 2015, 05:01:26 AM |
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BlackSpidy
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July 20, 2015, 05:07:38 AM |
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Wow, I just noticed the BTC-e dump. Wow, I'm really surprised that it didnt have a larger effect on the price (I have o idea how many Bitcoin were dumped). I really wish I could have gotten some BTC (or fraction of) for $150. Really, I'm optimistic. I hope we're not in for another week of boredom.
About 5000 coins I think. https://bitcointalk.org/index.php?topic=1127306.msg11916788#msg11916788Wow, and BTC-e is already back up at $270. Someone might have tried to start a crash (can that been done with 5000 coins?), but we're soldering through! |
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Fatman3001
Legendary
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Activity: 1554
Merit: 1014
Make Bitcoin glow with ENIAC
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July 20, 2015, 05:41:36 AM |
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Wow, I just noticed the BTC-e dump. Wow, I'm really surprised that it didnt have a larger effect on the price (I have o idea how many Bitcoin were dumped). I really wish I could have gotten some BTC (or fraction of) for $150. Really, I'm optimistic. I hope we're not in for another week of boredom.
About 5000 coins I think. https://bitcointalk.org/index.php?topic=1127306.msg11916788#msg11916788Wow, and BTC-e is already back up at $270. Someone might have tried to start a crash (can that been done with 5000 coins?), but we're soldering through! agreed  |
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JorgeStolfi
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July 20, 2015, 05:45:28 AM |
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you miss 120 if you dont pay electricity (just the internet and maintenance) btw its quite difficult to find free electricity these days There is no free electricity, of course; only electricity that someone else does not know he is paying for. |
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ChartBuddy
Legendary
Online
Activity: 2898
Merit: 2483
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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July 20, 2015, 06:01:27 AM |
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billyjoeallen
Legendary
Offline
Activity: 1106
Merit: 1007
Hide your women
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July 20, 2015, 06:29:05 AM |
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you miss 120 if you dont pay electricity (just the internet and maintenance) btw its quite difficult to find free electricity these days There is no free electricity, of course; only electricity that someone else does not know he is paying for. Why Professor, that sounds downright libertarian of you! |
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billyjoeallen
Legendary
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Activity: 1106
Merit: 1007
Hide your women
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July 20, 2015, 06:31:20 AM |
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Kinda pissed my $273 bid was missed by 50 cents. Maybe I'll get lucky and there will be some more idiot dumpers. Or I could move it up a little. Haven't decided.
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