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

[galdur]

I wonder how Bitmain´s shipments of S7s have been going. Maybe they have quite the backlog. If that is the case it´s of course very bullish for difficulty looking forward. Maybe we´ll see one exahash by March or even sooner. And what the heck comes after that...yedi something? Probably by next fall. Just kidding  

At any rate; exahash is a given in the next 3-6 months I guess.

So does a rising price follow a rising hash rate? Or is it vice versa? Obviously there's a corollation when you look at the charts.

I guess a rising price increases interest in mining and thus the hash rate increases. That´s how it usually is in production at least where I have worked. But asides from that; Bitmain is shipping those S7s which will increase the hash massively I´m sure.

[Richy_T]

I wonder how Bitmain´s shipments of S7s have been going. Maybe they have quite the backlog. If that is the case it´s of course very bullish for difficulty looking forward. Maybe we´ll see one exahash by March or even sooner. And what the heck comes after that...yedi something? Probably by next fall. Just kidding  

At any rate; exahash is a given in the next 3-6 months I guess.

So does a rising price follow a rising hash rate? Or is it vice versa? Obviously there's a corollation when you look at the charts.

Price first. Then miners adjust. Though there are other things that factor into it like supply of ASICs and competition between producers.

The hash rate also increases due to increasing efficiency in ASICs.

[JayJuanGee]

I received an e-mail from Coinbase notifying me of their shift card (debit card). 

Sure, I did not have a problem getting such a debit card; however, when I read that there is a $10 initiation fee, I decided against it.  Fuckers... 

For what reason do they need to charge for such a card? 

Call me a cheapskate, but I think that I will wait it out until either such issuance is free to me or there is some tangible (and/or financial) benefit that would cause me to earn back such $10 within a reasonable period of time.

[ChartBuddy]

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[ChartBuddy]

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[Elwar]

I received an e-mail from Coinbase notifying me of their shift card (debit card). 

Sure, I did not have a problem getting such a debit card; however, when I read that there is a $10 initiation fee, I decided against it.  Fuckers... 

For what reason do they need to charge for such a card? 

Call me a cheapskate, but I think that I will wait it out until either such issuance is free to me or there is some tangible (and/or financial) benefit that would cause me to earn back such $10 within a reasonable period of time.

I paid about $40 for my ANX card. And they charge a 5% fee to load it (which I found out later). $10 is tiny compared to most prepaid cards.

They will need to charge a fee though, prepaid cards all have fees that the credit card company charges for using their service.

[InvestorPerson]

mmh that sense of impending doom 

[Fatman3001]

mmh that sense of impending doom 

Kinda like this?

https://www.youtube.com/watch?v=PW5ELKTivbE

[ChartBuddy]

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[galdur]

The most expensive way to do business that's also inconvenient? I guess that points to a vast imbalance between supply and demand.

[JayJuanGee]

For what reason do they need to charge for such a card? 

Call me a cheapskate, but I think that I will wait it out until either such issuance is free to me or there is some tangible (and/or financial) benefit that would cause me to earn back such $10 within a reasonable period of time.

Issuing and sending a card to you isn't completely free for them.

This card is cheap compared to Bitstamp, Xapo or Bit-x.

hm?  Well, at this point, I am of the belief that such a card should be free.... so I will be holding out from requesting such a card for the reasons I stated earlier or until my mind is changed.

[Elwar]

I received an e-mail from Coinbase notifying me of their shift card (debit card). 

Sure, I did not have a problem getting such a debit card; however, when I read that there is a $10 initiation fee, I decided against it.  Fuckers... 

For what reason do they need to charge for such a card? 

Call me a cheapskate, but I think that I will wait it out until either such issuance is free to me or there is some tangible (and/or financial) benefit that would cause me to earn back such $10 within a reasonable period of time.

I paid about $40 for my ANX card. And they charge a 5% fee to load it (which I found out later). $10 is tiny compared to most prepaid cards.

They will need to charge a fee though, prepaid cards all have fees that the credit card company charges for using their service.

Something here doesn't add up. You're an adult, presumably professional, and you paid $40 to get a prepaid CC? Which charges you 5% fee to load it?!
Sorry, disregard. Missed the ANX part. So bitcoin credit cards are like the worst of both worlds, correct? The most expensive way to do business that's also inconvenient?

I tend to warn people away from getting an ANX card as the 5% fee is hidden. It was my first Bitcoin debit card. Since it is already loaded I have it as a backup.

The inconveniences of Bitcoin almost always come along when dealing with the fiat world.

[Richy_T]

hm?  Well, at this point, I am of the belief that such a card should be free.... so I will be holding out from requesting such a card for the reasons I stated earlier or until my mind is changed.

I would likely only consider such a thing if I was receiving substantial payments in Bitcoin. I guess it might appeal to filthy rich early adopters.

What might be interesting would be a fiat CC which gave rebates in Bitcoin.

[sunnydeep]

The most expensive way to do business that's also inconvenient? I guess that points to a vast imbalance between supply and demand.

What does that mean?
Supply of clueless rubes who demand to be treated like a bitch? Why in the hell would anyone want a prepaid card that costs $40 and charges them 5% for the privilege of using their own money?
Offensively, jaw-droppingly stupid.

While real CCs lend you *their* money for a month (zero interest loan), and offer perks for using them.

[ChartBuddy]

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[jbreher]

Why in the hell would anyone want a prepaid card that costs $40 and charges them 5% for the privilege of using their own money?

Well, the Shift card is $10 for the card itself and zero-point-zero to use, but why let the truth get in the way of a good bout of hyperbolic ranting?

Personally, I don't find a one-time charge of around the cost of a good hamburger to be too much to be able to convert my Bitcoin into merchandise at will, at literally every merchant that accepts Visa. But maybe I'm unique in that regard.

[sunnydeep]

Why in the hell would anyone want a prepaid card that costs $40 and charges them 5% for the privilege of using their own money?

Well, the Shift card is $10 for the card itself and zero-point-zero to use, but why let the truth get in the way of a good bout of hyperbolic ranting?

How about figuring out what's happening before being a rude fuck?

I paid about $40 for my ANX card. And they charge a 5% fee to load it (which I found out later). $10 is tiny compared to most prepaid cards.

Personally, I don't find a one-time charge of around the cost of a good hamburger to be too much to be able to convert my Bitcoin into merchandise at will, at literally every merchant that accepts Visa. But maybe I'm unique in that regard.

Willingness to pay for the privilege of using your own money, instead of *getting paid* to use other people's, doesn't make you unique. Merely stupid.

[brg444]

Why in the hell would anyone want a prepaid card that costs $40 and charges them 5% for the privilege of using their own money?

Well, the Shift card is $10 for the card itself and zero-point-zero to use, but why let the truth get in the way of a good bout of hyperbolic ranting?

Personally, I don't find a one-time charge of around the cost of a good hamburger to be too much to be able to convert my Bitcoin into merchandise at will, at literally every merchant that accepts Visa. But maybe I'm unique in that regard.

What is the point though?

Do you hold most of your money in Bitcoin?

I'm really trying to see what the incentive would be for someone that is not paid in bitcoins to use it as a mean of exchange at this current stage of its evolution. What problem do you have with spending fiat like everyone else?

It seems rational to me, if you value your coins, to hold them and rather spend inflationary fiat for your expenses.

[ChartBuddy]

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[hdbuck]

Why in the hell would anyone want a prepaid card that costs $40 and charges them 5% for the privilege of using their own money?

Well, the Shift card is $10 for the card itself and zero-point-zero to use, but why let the truth get in the way of a good bout of hyperbolic ranting?

Personally, I don't find a one-time charge of around the cost of a good hamburger to be too much to be able to convert my Bitcoin into merchandise at will, at literally every merchant that accepts Visa. But maybe I'm unique in that regard.

What is the point though?

Do you hold most of your money in Bitcoin?

I'm really trying to see what the incentive would be for someone that is not paid in bitcoins to use it as a mean of exchange at this current stage of its evolution. What problem do you have with spending fiat like everyone else?

It seems rational to me, if you value your coins, to hold them and rather spend inflationary fiat for your expenses.

there is no point. only brain-damaged people.