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

[spiderbrain]

Any way to arb this?

Bitcoin price implied by $GBTC price is $4,588.

If it's contracted like a regular commodity ETF, they're supposed to match the fund share value to the value of 0.1BTC, in this case they should issue more shares until the price is closer to the target, and then use that extra money to buy bitcoins to match the required holdings. If you can find a way of borrowing someone else's shares, sell them, buy actual bitcoins, wait for them to rebalance the fund and then sell the bitcoins to buy back the shares for half the price > 100% profit minus the borrowing cost. Could work. Could be a disaster :/

This is just chit chat, not advice, you know

[1714933988]

1714933988

[1714933988]

1714933988

[1714933988]

1714933988

[1714933988]

1714933988

[1714933988]

1714933988

[lost_in_base]

This is scary:

Antminer s9
13.th/s
1300w

time to generate 1 BTC with 13.5th/s 175 days
daily power cost at 0.06 cent rate, 1.87 US/day
175 day x 1.87USD =

only 327.25USD power cost to generate one BTC!!!!

Cost of 327USD would be fine at rates like 700-1000USD but hashrate is atleast 3 times too small to support current 2200USD price.

Hashrate has no time to correct this, price will.

[machasm]

This is scary:

Antminer s9
13.th/s
1300w

time to generate 1 BTC with 13.5th/s 175 days
daily power cost at 0.06 cent rate, 1.87 US/day
175 day x 1.87USD =

only 327.25USD power cost to generate one BTC!!!!

Cost of 327USD would be fine at rates like 700-1000USD but hashrate is atleast 3 times too small to support current 2200USD price.

Hashrate has no time to correct this, price will.

Another to watch out for is the calculations are based on todays specs. Each day that goes by the diff gets higher and your return decreases. By the time 175 days have passed I wouldn't be surprised if your earnings all but halved!

[kromtar]

This is scary:

Antminer s9
13.th/s
1300w

time to generate 1 BTC with 13.5th/s 175 days
daily power cost at 0.06 cent rate, 1.87 US/day
175 day x 1.87USD =

only 327.25USD power cost to generate one BTC!!!!

Cost of 327USD would be fine at rates like 700-1000USD but hashrate is atleast 3 times too small to support current 2200USD price.

Hashrate has no time to correct this, price will.

you forget the price of the asic that is 1355 usd... and in 175 days hashrate will be way more than now so mining is still balanced.

i think price will keep going up with hashrate till infinite

[kludzins]

This is scary:

Antminer s9
13.th/s
1300w

time to generate 1 BTC with 13.5th/s 175 days
daily power cost at 0.06 cent rate, 1.87 US/day
175 day x 1.87USD =

only 327.25USD power cost to generate one BTC!!!!

Cost of 327USD would be fine at rates like 700-1000USD but hashrate is atleast 3 times too small to support current 2200USD price.

Hashrate has no time to correct this, price will.

Problem is just to get this Antminer in quick order.
Always all of them is sold out in pre-orders

[lost_in_base]

This is scary:

Antminer s9
13.th/s
1300w

time to generate 1 BTC with 13.5th/s 175 days
daily power cost at 0.06 cent rate, 1.87 US/day
175 day x 1.87USD =

only 327.25USD power cost to generate one BTC!!!!

Cost of 327USD would be fine at rates like 700-1000USD but hashrate is atleast 3 times too small to support current 2200USD price.

Hashrate has no time to correct this, price will.

Problem is just to get this Antminer in quick order.
Always all of them is sold out in pre-orders

Of cource those are "sold out" while they mine at bitmains farm just as we write here.

[kromtar]

with luck you will get the asic price plus the electricity back in more than 1 year, by then that asic will be obsolete, repeat again its a never ending story that regulate itself.

only people with hydroelectric generators will make a bit more money and maintain obsolete miners for a bit but you will need to own a river

[Heater]

Bitcoin could hit $100,000 in 10 years, says the analyst who correctly called its $2,000 price
Bitcoin could make up 10 percent of the $5 trillion average daily volume in the foreign exchange market in 10 years, according to Saxo Bank analyst Kay Van-Petersen.
Its market capitalization could grow to $1.75 trillion which would make each bitcoin worth $100,000.

m/2017/05/31/bitcoin-price-forecast-hit-100000-in-10-years.html]http://www.c[Suspicious link removed]m/2017/05/31/bitcoin-price-forecast-hit-100000-in-10-years.html

Here we go - the #1 speculation thread getting back to it's roots 

[Torque]

The phenomenon called "HOMO" (Hate Of Missing Out) is causing all this bad blood between hardcore bitcoiners and alts. Years ago they hoped, that by buying bitcoin, they can just sit on their ass while watching their wealth expand to unseen heights. Now alts remind them, that sitting on their ass, watching at the charts and hoping really strongly isn't exactly enough. They understand that they have to study more about the subject to earn the mind-bending riches that they hoped for. They bought bitcoin because they didn't want to work or read to analyse the latest technological trends. They wanted to buy lambos and be admired for their l33t riches. This is what is creating all this HOMO that can be seen among bitcoin fanatics.

We Bitcoiners watched our bitcoin go from 400 to 2750 in 18 months. So we're not exactly shedding any tears for supposedly "missing out" on anything.

[Mervyn_Pumpkinhead]

The phenomenon called "HOMO" (Hate Of Missing Out) is causing all this bad blood between hardcore bitcoiners and alts. Years ago they hoped, that by buying bitcoin, they can just sit on their ass while watching their wealth expand to unseen heights. Now alts remind them, that sitting on their ass, watching at the charts and hoping really strongly isn't exactly enough. They understand that they have to study more about the subject to earn the mind-bending riches that they hoped for. They bought bitcoin because they didn't want to work or read to analyse the latest technological trends. They wanted to buy lambos and be admired for their l33t riches. This is what is creating all this HOMO that can be seen among bitcoin fanatics.

We Bitcoiners watched our bitcoin go from 400 to 2750 in 18 months. So we're not exactly shedding any tears for supposedly "missing out" on anything.

It's good to hear that you aren't shedding any tears of HOMO towards alts. It is totally OK to be satisfied with winning the amount in 18 months, that alts like ETH, ETC, XRP and even LTC, PPC and NMC won in around 1-3 months. Not setting high expectations is the way to happiness.

[toknormal]

It is totally OK to be satisfied with winning the amount in 18 months, that alts like ETH, ETC, XRP and even LTC, PPC and NMC won in around 1-3 months.

Pride comes before a fall and that remark forms an apt beacon that beckons its owner straight down a very deep crevice.

The reason Bitcoin took 18 months to get their is because the growth is real.
The reason Ethereum took 1-3 months is because the growth is concocted

....essentially from a toxic cocktail of bogus ICOs - based on no more that a whitepaper in many cases - plus the empty myth that Ethereum is about to replace Bitcoin as the defacto store of value for the cryptocurrency sphere.

But for it to do that it would had to have been born on the 9th of January 2009, derive its value purely from monetary storage as opposed to equity transport, preferably manifest as one head not two, and not be on the verge of technological obsolescence

(P.S. We all had our 1-3 month x10 gains a few years back, it's just that you're a bit late to the party)

[JayJuanGee]

7 days of green weekly candles?

This rise was bigger than the 2013 bubble

Huh? 

I don't know how you figure?  You mean the number of weekly candles in a row or the percentage of the rise?

Also 2013 had two uptrends, and this is the first uptrend that is not necessarily over yet because the percentage of the rise has not been as much this time and the demand for bitcoin seems to still be out there causing ongoing buying pressures.

You are premature if you suggesting this rise to be over because, currently we are in the middle of a correction and it remains unclear whether we are continuing up (seeming a bit more likely) or going down (seemingly a bit less likely)

Bigger in absolute value of the rise, of course

That is not really bigger.  It is smaller.  Percentage is the more accurate assessment if some change is "big" or "small"

Don't get me wrong, there is a lot of very impressive movement in bitcoin, and a lot of development and reaching ATHs are good things for bitcoin and other cryptos.  Furthermore the exponential rise in the total market cap of all cryptos is quite an amazing phenomenon that seems to cause a kind of symbiotic effect - meaning that bitcoin seems to profit from all the money coming into crypto space, even if it's relative share seems to be getting smaller.

[Iranus]

I sent bitcoin few days ago with $0.25 fee which is what was recommended by wallet and it still hasn't confirmed. Is it really that bad?

Are you sure your wallet didn't recommend a $2.5 fee?  That would be pretty normal at current rates.  Even the smallest transactions around have no chance of getting confirmed with that kind of fee.

[Paashaas]

Rootstock opened there testnet yesterday, ETH will be replaced by RSK in time. All alt-coins will be replaced by sidechains.

Boom.gif

I look forward to using Rootstock on Bitcoin.

The caveat being that their initial implementation will be slightly centralized due to a token being required and it will rely on several trusted actors to convert back and forth to bitcoins. This will change once Bitcoin gets upgraded with the code necessary to implement it in a decentralized way.

I cant wait untill there Jaxx wallet arrives, i also consider buying some. Investing in sidechains can be very lucrative.

RSK needs Segwitt to make it more decentralised but there is one problem...like always when i think about Bitcoins innovation and all those other cool sidechains...It's are all beeing blocked by

JIHAN WU  

Problem solved with UASF!

[MrPiggles]

If Jihan was in any other country than China pretty sure someone would have offed him by now.

[Mervyn_Pumpkinhead]

It is totally OK to be satisfied with winning the amount in 18 months, that alts like ETH, ETC, XRP and even LTC, PPC and NMC won in around 1-3 months.

Pride comes before a fall and that remark forms an apt beacon that beckons its owner straight down a very deep crevice.

The reason Bitcoin took 18 months to get their is because the growth is real.
The reason Ethereum took 1-3 months is because the growth is concocted

....essentially from a toxic cocktail of bogus ICOs - based on no more that a whitepaper in many cases - plus the empty myth that Ethereum is about to replace Bitcoin as the defacto store of value for the cryptocurrency sphere.

But for it to do that it would had to have been born on the 9th of January 2009, derive its value purely from monetary storage as opposed to equity transport, preferably manifest as one head not two, and not be on the verge of technological obsolescence

(P.S. We all had our 1-3 month x10 gains a few years back, it's just that you're a bit late to the party)

Please tell me more about the real growth of BTC. Tell me what modern financial and economical problems has BTC solved. Tell me about the practical usability of bitcoin, and how are the constantly growing consumers using it to their advantage. Tell me about the growing millions of consumers and merchants who are switching from CC to bitcoin, because of the speed, convenience, simplicity, security and costs.
It's always interesting when a bitcoin fanatic will attack alts because of their speculative nature

Last time when BTC earned like alts do nowadays was around 2011. I played BTC first in 2013, winning a 6x gain in around 4 months. After that I have played with alts, because it just doesn't make sense to play with BTC anymore. The risks are just as high (drops are as fast), but the gains are so much smaller and slower. It would only make just a little more sense if you want to play with an amount large enough that would need the thicker market for slippage. But even that wouldn't make sense, because then it would already make sense to create your own exchange and play your own books in this unregulated new field, just like the other true winners of the crypto world do

[K~Ehleyr]

You think toknormal is a bitcoin fanatic attacking alts??  

He's right though.  Bitcoin is the original and all it has to do is keeping on being the original.  It's in the privileged position that it really doesn't have to innovate, it just has to be, and ideally stop the infighting.

Bitcoin cannot be all things to all people and that's where other coins can blossom.

[Torque]

Oh look, another former Goldman Sachs executive wants to be the next U.S. Fed Chair.

http://www.businessinsider.com/axios-report-gary-cohn-wants-federal-reserve-chair-janet-yellen-2017-5

Wat a fkn shocker. 

[DonQuijote]

This is scary:

Antminer s9
13.th/s
1300w

time to generate 1 BTC with 13.5th/s 175 days
daily power cost at 0.06 cent rate, 1.87 US/day
175 day x 1.87USD =

only 327.25USD power cost to generate one BTC!!!!

Cost of 327USD would be fine at rates like 700-1000USD but hashrate is atleast 3 times too small to support current 2200USD price.

Hashrate has no time to correct this, price will.

But Hashrate isnt lineal, the best way is buy high number and sell before lost the advantage

[JimboToronto]

Good morning Bitcoinland.

I see we're still going sideways... currently $2240USD (Bitcoinaverage).

Yawn. Hopefully we'll wake up soon.