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

[Fatman3001]

There's another way to look at this (I think). You either mine to sell instantly or you mine because you or your investors want coins. Coins that would otherwise have been bought at exchanges. Either way they're absorbed by the market.

That is totally reasonable. And works for as long as the miners can continue to raise extra funding from this type of VC, who in reality, may aswell buy and hold BTC themselves (on or off exchange) and not take the risk on the company and what it may or may not do with or wthout their permission.

EDIT: I guess we will never really know, so its kind of an endless and pointless discussion at the end of the day ... but this is the SPECUALTION forum so we don't need 'facts' 

I agree. Facts are for pussies.

However, this we know: whether you pay to mine or pay to buy, you're paying for coins. So mined coins are in a sense absorbed by the market either way.

(I'm tired. Please correct me if I'm talking shit.)

[phoenix1]

@ Fatman ... yup ... I agree - someone's paying for dem coins whichever way you cut it  

Tired too - not even sure if I am arguing for or against what I said 

[Fatman3001]

@ Fatman ... yup ... I agree - someone's paying for dem coins whichever way you cut it 

it took me both of my brain cells to get to that conclusion

[phoenix1]

@ Fatman ... yup ... I agree - someone's paying for dem coins whichever way you cut it 

it took me both of my brain cells to get to that conclusion

I had to borrow couple of extra ones

[Fatman3001]

@ Fatman ... yup ... I agree - someone's paying for dem coins whichever way you cut it 

it took me both of my brain cells to get to that conclusion

I had to borrow couple of extra ones

cheater

[phoenix1]

@ Fatman ... yup ... I agree - someone's paying for dem coins whichever way you cut it 

it took me both of my brain cells to get to that conclusion

I had to borrow couple of extra ones

cheater

<hangs head in shame>

[billyjoeallen]

Successful mining requires a specialized skill set. Successful trading requires a completely different specialized skill set.  Very few people are gifted to possess both. enough. In general, even successful miners lose some profit trading and some of the best traders lose money mining. 

Miners will sell too many coins at low prices and too few at high prices. That's we we have such high volatility. Successful traders buy low and sell high, reducing volatility, but traders don't get the coins first. Miners do.

bumping myself. I think this bears repeating.

Possible head and shoulders forming, but I don't think I'm going to trade it. I already sold all the coins I'm comfortable selling in this range.

[yolalanda]

... Could you offer TL;DR of how you've arrived at 250MW?  Not doubting you, just wondering what that number is meant to represent.

The network is at 500 petahash  and the machines are pulling an average of 0.5w/gh (Ant s3 0.7w/gh, SP-tech 0.6w/gh, ant s5 0.5w/gh and newer gear 0.25w/gh).

You might be missing some details:
1. It's safe to assume that any [already purchased] gear will be kept online as long as it mines more coin than it costs to run.  And 'costs to run' = electricity + cheap warehouse space.

A very large portion of the miners today are old Ant S3's. But a lot of mines will simply replace miners rather than upgrade capacity when things are as marginal as they are now.

What is the logic behind upgrading (investing in new gear) 'when things are as marginal as they are now'? Wouldn't it make more sense to simply keep the old gear running, with no additional investment, while it's making money? 

Some will sell the old gear on ...

Unless the old gear is sold as paperweights/door stops, it will hash until it either dies or becomes unprofitable to run.  Who cares if it's in a factory farm or has been sold to a hobby farmer?

Cooling is a lot cheaper in purpose built mining centers. ... Maybe 3.7%?

Yeah, Chinese chicken coops are less exotic than actual data centers, but still...

But certainly not 3.7%, or else...
http://www.bangkokpost.com/media/content/20141014/694349.jpghttp://cointelegraph.com/storage/uploads/view/5a40080d486b923b6f7eac3f074780e0.jpg

... the dutch and belgian mining operations with 20 cents per kw/h went first. While areas with 2 cent kw/h are booming. It's a volatile market.

There really were factory farms running on $.20 power?

[Lauda]

I didn't see this image around and I felt like this would be the best thread to post it (instead of starting a new thread). Bitcoin was mentioned at the beginning of Dope (movie released in 2015).
@Whoever said that we were crashing: the price is actively fluctuating. We have reached $270 again and came back to $266.91 again on Bitstamp.

[muyuu]

I didn't see this image around and I felt like this would be the best thread to post it (instead of starting a new thread). Bitcoin was mentioned at the beginning of Dope.
@Whoever said that we were crashing: the price is actively fluctuating. We have reached $270 again and came back to $266.91 again on Bitstamp.

Bloody hell. Is that what kids are wearing these days in America??

[gentlemand]

Bloody hell. Is that what kids are wearing these days in America??

Shirts? Yup. They came over from the Old World about three years ago. All the Americans I've met were delighted to throw those smocks away.

[phoenix1]

Bloody hell. Is that what kids are wearing these days in America??

Shirts? Yup. They came over from the Old World about three years ago. All the Americans I've met were delighted to throw those smocks away.

I think he might also have been talking about the thing on his head  

[BlindMayorBitcorn]

Bloody hell. Is that what kids are wearing these days in America??

Shirts? Yup. They came over from the Old World about three years ago. All the Americans I've met were delighted to throw those smocks away.

I think he might also have been talking about the thing on his head  

Hair in the Americas goes back decades.

[phoenix1]

Bloody hell. Is that what kids are wearing these days in America??

Shirts? Yup. They came over from the Old World about three years ago. All the Americans I've met were delighted to throw those smocks away.

I think he might also have been talking about the thing on his head  

Hair in the Americas goes back decades.

Yeh, I've seen Donald Trump ... nothing new there for a decade or two

[gentlemand]

Hair in the Americas goes back decades.

April 14th 1981. John Young, commander of the first shuttle flight, brought hair back to the US from space for the first time. I guess all those Apollos and Gemini hadn't been in the right orbit to find it. Ever since then it's become a very popular addition to American life.

[phoenix1]

Hair in the Americas goes back decades.

April 14th 1981. John Young, commander of the first shuttle flight, brought hair back to the US from space for the first time. I guess all those Apollos and Gemini hadn't been in the right orbit to find it. Ever since then it's become a very popular addition to American life.

 

Did he introduce the 'landing strip' too ?

[gentlemand]

 

Did he introduce the 'landing strip' too ?

He's a very modest guy but the answer is yes. They didn't know how to get a spacecraft back on the ground but they decided to go up anyway and figure it out while buzzing around. The rest is history.

[wakasaki808]

this doesn't looks good.

2013 again?

[mrkavasaki]

this doesn't looks good.

2013 again?

huh? what do you mean??

[ChartBuddy]

Coin

Explanation