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

[noobtrader]

i just realize this :

 cost mining of 1 btc per month at current difficulty (for 12 c per kwh) is around 560 usd  for latest miner.  

:

bullshit.

really?

Mining is at an unsustainable level atm. Next diff adjustment is probably going to be flat or in negative territory: http://bitcoincharts.com/

So unless the BTC price goes up soon we're going to see average block times go up until some months after the halving.

Sure good we have a good margin on those blocks.

WEEEEEEEE!!!!!!

mining in china still profitable though, with 7.5 cent, its about 333 usd per btc, or if they can get free electricity  

nevertheless, next halving means double diff and double cost 

[Fatman3001]

i just realize this :

 cost mining of 1 btc per month at current difficulty (for 12 c per kwh) is around 560 usd  for latest miner.  

bullshit.

really?

from
https://alloscomp.com/bitcoin/calculator

i get that 1 btc per month need 11 T, this 11 T i assume need 6.5 Kwh

then using
http://www.rapidtables.com/calc/electric/electricity-calculator.htm

i calculate how much usd per month for those 6.5 kwh

 

current gen run 4.73TH at 1293 Watts. And no professional miner pays 12c/kWh. More like 1.5-4 cents.

[noobtrader]

i just realize this :

 cost mining of 1 btc per month at current difficulty (for 12 c per kwh) is around 560 usd  for latest miner.  

bullshit.

really?

from
https://alloscomp.com/bitcoin/calculator

i get that 1 btc per month need 11 T, this 11 T i assume need 6.5 Kwh

then using
http://www.rapidtables.com/calc/electric/electricity-calculator.htm

i calculate how much usd per month for those 6.5 kwh

 

current gen run 4.73TH at 1293 Watts. And no professional miner pays 12c/kWh. More like 1.5-4 cents.

wow... latest miner can do  4.73TH at 1293 Watts. ?

so its about 265 per coin instead  

edit :  nevermind, still above 500 next halving

[Fatman3001]

i just realize this :

 cost mining of 1 btc per month at current difficulty (for 12 c per kwh) is around 560 usd  for latest miner.  

bullshit.

really?

from
https://alloscomp.com/bitcoin/calculator

i get that 1 btc per month need 11 T, this 11 T i assume need 6.5 Kwh

then using
http://www.rapidtables.com/calc/electric/electricity-calculator.htm

i calculate how much usd per month for those 6.5 kwh

 

current gen run 4.73TH at 1293 Watts. And no professional miner pays 12c/kWh. More like 1.5-4 cents.

wow... latest miner can do  4.73TH at 1293 Watts. ?

so its about 265 per coin instead  

edit :  nevermind, still above 500 next halving

Depends on other costs, but they're not doing it just for the lulz. There needs to be a profit margin. Especially with this risk profile.

[r0ach]

Looks to me like BTC lift-off around early to mid next week (if not before).

[bargainbin]

...
current gen run 4.73TH at 1293 Watts. And no professional miner pays 12c/kWh. More like 1.5-4 cents.

Guys, where's your DIY spirit? Here's some absolutely Atlas-Shruggy Randiana we could paradigm-shift to sub-penny power with a few hydro-disruptors, like that orgone collector powering up BitUsher's solar solo home mine?
Who's with me?



http://gizmodo.com/a-rare-glimpse-inside-a-magnificent-abandoned-shrine-t-1000133696

[billyjoeallen]

i just realize this :

 cost mining of 1 btc per month at current difficulty (for 12 c per kwh) is around 560 usd  for latest miner.  

I'm actually surprised it's that low, judging by the prices for antminer S7s. How did you arrive at that figure?

overdeveloped mining in China is creating a very unstable situation.

[BlindMayorBitcorn]

^^Copy-pasting bits of your self-moderated thread with a question mark tacked on the end? Not even trolling, just spam. Might as well paste lorem ipsum.

Not interesting, adds nothing, minimal "meaning and lel through repetition" (the guy with Northern Exposure moose does it well, you do not).
If you are seriously struggling to understand how Bitcoin works, ask complete, direct questions. Make sure they're your own.
This is merely a suggestion

Thanks. It's always a pleasure talking with you.

[adamstgBit]

...
don't worry the "stable price" we've been seeing for past 48hours (420-425) is almost over, it's decision time.

>70% chance it resolves down IMO

Actually I expect a little pump first, fail to break resistance and then down. And the evolution of the bid sum on Chinese exchanges favors a pump.
I might shit myself if the pump does break resistance though...

no way it's going to crash hard, any second now.

[ChartBuddy]

Coin



Explanation

[billyjoeallen]

an S7 burns ~930960 watts of juice per month.

cost of electricity at 4C per kWh is then ~$37 for one miner.

Then there is the cost of:
buying the miner plus shipping
rackspace
installation and operation
bandwidth

Blockreward gets chopped in half in July.

It seems like a crazy risky business.

Risks include but not limited to:

defective product
Change of Pow (disaster)
theft, fire, flooding or other natural disaster
market collapse
environmental and other regulations
tech breakthrough that renders them obsolete

No wonder these miners are acting so crazy.

[AlexGR]

No wonder these miners are acting so crazy.

They've actually been doing pretty ok given the shitstorm, FUD, dev wars, etc.

[adamstgBit]

No wonder these miners are acting so crazy.

They've actually been doing pretty ok given the shitstorm, FUD, dev wars, etc.

+1

its pretty clear who is acting crazy....

[adamstgBit]

i sold a bunch, as a hedge against blockstearms rock hard heads.
if these guys continue to have influence over bitcoin, i foresee myself rage quitting at one point .
they are bound to keep pissing me off...

[ChartBuddy]

Coin



Explanation

[BlindMayorBitcorn]

Lambie, you’re becoming a bully like iCEBREAKER

Now you're being unfair. Lambie has always been an asshole. iCEBREAKER is the pretender. And not a very good one.

But seriously, eli5 it to me now. How will decentralization be altered in a meaningful way if the number of nodes go down from 6000 to 2000 (I don't think it would, but I'm curious nonetheless)?

What is often overlooked is the fact that number of nodes is irrelevant if all nodes are run by the same parties, this is why it's crucial that the nodes can be run on people's personal computers at home, at their offices, and so on. "Specialization" of nodes, would kill Bitcoin as we know it (as a decentralized currency), this is why there is a clear agenda by some people to raise the block size and make Bitcoin nodes end up as centralized as mining is right now.

?

That's not an answer, that's a paranoid delusion.



Again with the agendas.

Even if this weird conspiracy were to play out there are still people out there, real people like you and me, with ultra high speed connections. And I can buy 20 professional grade used servers with sas drives and xeon processors for $300 a piece on our national equivalent to ebay. I'm guessing ebay has something similar. So all we need to protect ourselves from this cataclysmic event is to have some slightly above average dedicated Bitcoin nutters. A quick look at the WO thread tells me we're safe for now.

And again, who are these "people" with "a clear agenda"? I want names. If the agenda really is "clear" it should be easy to attach it to some identifiable entities. And if this agenda is so bloody clear, I want it explained in detail.

You're probably right. But my thinking is we already have development centralization and miner centralization. Are nodes the last shoe to drop? How many is not enough?

[davedx]

https://www.reddit.com/r/btc/comments/47luh3/f2pool_is_under_ddos_attack/

of course they are.

It's not an "attack."  Core supporters are merely voting with their packets.

If that happens to disturb f2pool's existing datagram consensus with a more contentious version, well too bad.

Majoritarian Democracy > Nork Sensor Ships

Not only are you an obnoxious dick, you support DDoS attacks against people you don't like?

I think you're just jealous because nobody cares enough to DDoS your pet altcoin

[JayJuanGee]

The fact that 90% of bitcoin holders bought bitcoins just to "get more fiat money" means that they all have a sell point and there will be very few huge run-ups.

But that's ok because it creates liquidity and stabilizes the price so bitcoin can actually be used as a currency.

I'm curious.


From where did you get your "fact" regarding the motivations of 90% of bitcoin holders? 


Can you describe that demographic a bit, your sources, and that (those) sources provide any specifics about these holders?

I really would like to know more about some of the characteristics and motives about bitcoin holders (whether individuals or entities), what motivates them in respects to bitcoin, how much they are holding, for how long and how the amounts change over time; however, my sense is that there is not very accurate information out there regarding such demographics and the particulars about their BTC holdings, and it seems that the best information that we have regarding hodlers is a variety of indirect sources, inferences and in sum guestimations with some guestimations likely being more accurate than others.

TLDR:  What's your sources describing the motivations of bitcoin hodlers?

[JayJuanGee]

Blocks are full again. I think this will now probably happen any time the market tries to pump.

I don't see much upside but there's a lot of potential downside.

What's your source for this apparently pure conjecture?

Looks like we are generally down in the last days by nearly 15%, and even at 85% full, transactions were still going completely through with nearly no fees in less than 10 hours, and with fees in about an hour or so.

https://blockchain.info/charts/avg-block-size?timespan=60days&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=

[Fatman3001]

@JJG are you one of lambies characters?