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

[DaRude]

http://www.coindesk.com/kncminer-declares-bankruptcy-cites-upcoming-bitcoin-subsidy-halving/

... so this is the real reason behind the rise, or rather the reason why bitcoin was being held down and now allowed to rise.  KNC miner was going broke and the chinese miners got wind of it so conspired (probably in cahoots with some notorious shorts) to hold price below cost of production until KNC was bust.  As soon as that happened they let the price go up to a new level ... where they think they can manage it.

These shennanigans have released some important information into the market, givn some of the game away so-to-speak.  Cost of production is somewhere around $480 at current difficulty so after halving that will be around ~$960, by a simplistic 1st order estimate.  Bitcoin price has never spent large amounts of time significantly below cost of production so it is a good bet that 3-6 months after halving bitcoin price is going to be ~$960.

BTC price doesn't depend on the production cost. Market sets the price at which one is willing to purchase BTC not miners at which they're willing to sell BTC. Market couldn't care less how much in electricity it took to produce 1BTC, simple supply and demand, where supply is fixed

[LFC_Bitcoin]

http://www.coindesk.com/kncminer-declares-bankruptcy-cites-upcoming-bitcoin-subsidy-halving/

... so this is the real reason behind the rise, or rather the reason why bitcoin was being held down and now allowed to rise.  KNC miner was going broke and the chinese miners got wind of it so conspired (probably in cahoots with some notorious shorts) to hold price below cost of production until KNC was bust.  As soon as that happened they let the price go up to a new level ... where they think they can manage it.

These shennanigans have released some important information into the market, givn some of the game away so-to-speak.  Cost of production is somewhere around $480 at current difficulty so after halving that will be around ~$960, by a simplistic 1st order estimate.  Bitcoin price has never spent large amounts of time significantly below cost of production so it is a good bet that 3-6 months after halving bitcoin price is going to be ~$960.

That makes sense, really hope you're right. That would make most of us here very happy.

[Fakhoury]

When you see analysis from most of the permabulls and the BS and FUD from no-brainers and bears, you feel safe and proud to be in the middle of a warm family.

To all my my bulls and permabulls friends, I don't want to name anyone as I don't want to forget any, I love you all

Thanks for being a huge and shiny part in my life.

[LFC_Bitcoin]

When you see analysis from most of the permabulls and the BS and FUD from no-brainers and bears, you feel safe and proud to be in the middle of a warm family.

To all my my bulls and permabulls friends, I don't want to name anyone as I don't want to forget any, I love you all

Thanks for being a huge and shiny part in my life.

[dreamspark]

http://www.coindesk.com/kncminer-declares-bankruptcy-cites-upcoming-bitcoin-subsidy-halving/

... so this is the real reason behind the rise, or rather the reason why bitcoin was being held down and now allowed to rise.  KNC miner was going broke and the chinese miners got wind of it so conspired (probably in cahoots with some notorious shorts) to hold price below cost of production until KNC was bust.  As soon as that happened they let the price go up to a new level ... where they think they can manage it.

These shennanigans have released some important information into the market, givn some of the game away so-to-speak.  Cost of production is somewhere around $480 at current difficulty so after halving that will be around ~$960, by a simplistic 1st order estimate.  Bitcoin price has never spent large amounts of time significantly below cost of production so it is a good bet that 3-6 months after halving bitcoin price is going to be ~$960.

Got any proof of that $480 estimate?

The chinese have got extremely cheap electricity so I wouldn't be too sure it costs them that much to produce a coin. 

[Denker]

When you see analysis from most of the permabulls and the BS and FUD from no-brainers and bears, you feel safe and proud to be in the middle of a warm family.

To all my my bulls and permabulls friends, I don't want to name anyone as I don't want to forget any, I love you all

Thanks for being a huge and shiny part in my life.

Great comment!
I just would like to add the following: The more some certain people here try to tell us how shitty and doomed Bitcoin is, the more I am convinced being on the right path and to hold as much bitcoins as I can for a long long time!

[Fakhoury]

When you see analysis from most of the permabulls and the BS and FUD from no-brainers and bears, you feel safe and proud to be in the middle of a warm family.

To all my my bulls and permabulls friends, I don't want to name anyone as I don't want to forget any, I love you all

Thanks for being a huge and shiny part in my life.

My old, dear friend and brother.

Believe it or not, everytime I read analysis or news piece that is bullish, I want to cry.

Bitcoin is the best thing happened for me.

I always think about our party and I go into details, where I will send all of you airplane tickets (arrival and deprature), accomidation in a 5-star deluxe suites in a fancy hotel or resort, enjoying life and remembering these current days and laughing hard on bears

Maybe all of this will cost 1 Bitcoin

I can see it coming true.

By the way, if no one came, you are forced to come, or I will send someone to rip all your bitcoins

When you see analysis from most of the permabulls and the BS and FUD from no-brainers and bears, you feel safe and proud to be in the middle of a warm family.

To all my my bulls and permabulls friends, I don't want to name anyone as I don't want to forget any, I love you all

Thanks for being a huge and shiny part in my life.

Great comment!
I just would like to add the following: The more some certain people here try to tell us how shitty and doomed Bitcoin is, the more I am convinced being on the right path and to hold as much bitcoins as I can for a long long time!

Not for your comment, but you are a friend of mine although we never talked, if I recall correctly

I always think the same as you, the more we are being fought, the more they fear us and we will reach the ultimate destination

Thank you both for being a real friends and brothers, LFC and Denker

[clopoterian]

Good morning, Godless abominations Gentlemen!
Had your fun, monstrocities? Good. Time to put an end to your unnatural shenanigans and come on down.

http://s33.postimg.org/4d1ph2ibj/thepowerofchrist.gif

The power of Christ compels you!!

[Searing]

Good morning, Godless abominations Gentlemen!
Had your fun, monstrocities? Good. Time to put an end to your unnatural shenanigans and come on down.



The power of Christ compels you!!

A "Crypto Bear' Exhortism...damn...now I've seen everything

(on crypto Satan's side on this one....up baby up)

[clopoterian]

http://s33.postimg.org/balc7vfun/Capture.jpg

Not even your Dark Lord Satoshi can save you from His righteous vengeance!

[Gyrsur]

Not even your Dark Lord Satoshi can save you from God's righteous vengeance!

this is not satoshi.

https://en.wikipedia.org/wiki/Cthulhu_Mythos

[zimmah]

http://www.coindesk.com/kncminer-declares-bankruptcy-cites-upcoming-bitcoin-subsidy-halving/

... so this is the real reason behind the rise, or rather the reason why bitcoin was being held down and now allowed to rise.  KNC miner was going broke and the chinese miners got wind of it so conspired (probably in cahoots with some notorious shorts) to hold price below cost of production until KNC was bust.  As soon as that happened they let the price go up to a new level ... where they think they can manage it.

These shennanigans have released some important information into the market, givn some of the game away so-to-speak.  Cost of production is somewhere around $480 at current difficulty so after halving that will be around ~$960, by a simplistic 1st order estimate.  Bitcoin price has never spent large amounts of time significantly below cost of production so it is a good bet that 3-6 months after halving bitcoin price is going to be ~$960.

BTC price doesn't depend on the production cost. Market sets the price at which one is willing to purchase BTC not miners at which they're willing to sell BTC. Market couldn't care less how much in electricity it took to produce 1BTC, simple supply and demand, where supply is fixed

the main sellers are miners, and to some extend also shops that accept bitcoin

sure there are some investors who sell and buy back cheaper, but since they buy back cheaper they end up buying more coins than they sell, so in effect they don't count as supply, but as demand. Unless they hold their profit in USD, in which case they'll become less significant every time bitcoin gains value, because their USD becomes worth less, so that makes them less powerful.

So if the production cost of bitcoin increases, we can expect the price to follow suit. t won't be an instant increase n price (some people think the halving will immediately drive the price up as soon as the first block is mined with a 12.5 BTC reward) of course this will not happen.

But a few months after the halving the new stable price will become much higher than the current price. And at least double of what it is now.

[LFC_Bitcoin]

When you see analysis from most of the permabulls and the BS and FUD from no-brainers and bears, you feel safe and proud to be in the middle of a warm family.

To all my my bulls and permabulls friends, I don't want to name anyone as I don't want to forget any, I love you all

Thanks for being a huge and shiny part in my life.

My old, dear friend and brother.

Believe it or not, everytime I read analysis or news piece that is bullish, I want to cry.

Bitcoin is the best thing happened for me.

I always think about our party and I go into details, where I will send all of you airplane tickets (arrival and deprature), accomidation in a 5-star deluxe suites in a fancy hotel or resort, enjoying life and remembering these current days and laughing hard on bears

Maybe all of this will cost 1 Bitcoin

I can see it coming true.

By the way, if no one came, you are forced to come, or I will send someone to rip all your bitcoins

When you see analysis from most of the permabulls and the BS and FUD from no-brainers and bears, you feel safe and proud to be in the middle of a warm family.

To all my my bulls and permabulls friends, I don't want to name anyone as I don't want to forget any, I love you all

Thanks for being a huge and shiny part in my life.

Great comment!
I just would like to add the following: The more some certain people here try to tell us how shitty and doomed Bitcoin is, the more I am convinced being on the right path and to hold as much bitcoins as I can for a long long time!

Not for your comment, but you are a friend of mine although we never talked, if I recall correctly

I always think the same as you, the more we are being fought, the more they fear us and we will reach the ultimate destination

Thank you both for being a real friends and brothers, LFC and Denker

Haha yea Fakhoury my friend, when we hit $10,000 per Bitcoin we will party.

[clopoterian]

http://s33.postimg.org/htiqb04xr/cthulhu_transp.png

Not even your Dark Lord Satoshi can save you from God's righteous vengeance!

this is not satoshi.

https://en.wikipedia.org/wiki/Cthulhu_Mythos

Satoshi is the Great Falsifier, takes many a form to deceive the Righteous.
The Ancient Ones are but one of his disgusting manifestations, that slimy leach serpent obscures his true hideousness behind many veils of lies!

[clopoterian]

...
BTC price doesn't depend on the production cost. Market sets the price at which one is willing to purchase BTC not miners at which they're willing to sell BTC. Market couldn't care less how much in electricity it took to produce 1BTC, simple supply and demand, where supply is fixed

the main sellers are miners...

If 25 BTC changed hands every 10 minutes, you'd have a point. I believe the value is somewhat greater
Edit: Less than 50 BTC, to validate your "main" claim. I guess they still could be "main sellers" if the other sellers add up to < 25 BTC.

[AmazonStuff]

Just a reminder, Bitstamp EUR/USD trading will begin in 11 minutes.

[600watt]

crypto is dead.

https://arxiv.org/abs/1605.07524

 

[Assmaster2000]

Current data

With ChartBuddy gone, I'll post these from time to time...

This shouldn't be misconstrued as investment advice; prices go up and down all the time. They might be going down for a while, but that's no reason to sell.

What's the word I'm looking for... underperforming? Like that, but with extra disappointment and nearly palpable shame.

[Karartma1]

This thread is a nice representation of the world outside: any kind of people is showing up here. Don't you have anything to do out there?

holy crap

[finkelsteinMonster]

^
Thanks for taking the time to tell us how much this thread sux, and making a few pennies by spamming your eyeraping sig in the process, Sunshine
"We have tried to calculate the amount of money that the Chinese have invested in mining, we estimate it to be in the hundreds of millions of dollars. Even with free electricity we cannot see how they will ever get this money back. Either they don't know what they are doing, but that is not very likely at this scale or they have some secret advantage that we don't know about." http://digital.di.se/artikel/knc-miner-grundaren-kina-har-fordelar-som-vi-inte-kanner-till (Swedish) (cross from https://np.reddit.com/r/btc/comments/4lpecd/we_cannot_possibly_see_how_the_chinese_can_get_a/)