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

[Last of the V8s]

Just checking in. Is it safe?

Hi! Notrly safe. Maybe for a few days. Then more nasties. Unless miracles.

[BlindMayorBitcorn]

Just checking in. Is it safe?

Hi! Notrly safe. Maybe for a few days. Then more nasties. Unless miracles.

I entered the market during a downturn about exactly as disgusting as this one. I was slopping around like a pig in cheap coins while everybody around me was losing their shit. The karma is killing me.

[d_eddie]

Just checking in. Is it safe?

Mayor! Good to see your head out of the sand. Jimbo also got in just a minute to say hello. Regards to Rosewater. Need a shovel before you go or is that hole on the beach still good?

[Rosewater Foundation]

I'm going to miss the mayor though

Mayor! Good to see your head out of the sand.

[jojo69]

Cointelegraph recently posted an article estimating that most miners are barely breaking even at $8000. There's other news outlets running articles with the same mining's no longer profitable theme.

wait just a minute

The FUDsters have been in here claiming that BTC is going to fall to the cost of production, which they put around @1000.

Just which the hell is it?

At current difficulty, mining 1 BTC costs around $3000-$4000 depending on electricity costs - not including capital outlay.

Again...they cost $4000 to mine and they can't make money selling them for $8000?

which the fuck is it?

edit 1/

Oh hey

da Mayor in da House yo

edit 2/

OMG guys, I just figured out what this means; Bitcoin really is a tool created by a three letter agency...only the government could lose money selling something at a 100% markup.

[Rosewater Foundation]

Should we be looking to the Futures after all? Did they call this and then make it happen?

[Last of the V8s]

Should we be looking to the Futures after all? Did they call this and then make it happen?

No it was your Mark Carney. The other day he was all 'it's such shit'. Just today though he's like 'meh it's too small to give a shit.'
Or it was TA lol.

[Rosewater Foundation]

Should we be looking to the Futures after all? Did they call this and then make it happen?

No it was your Mark Carney. The other day he was all 'it's such shit'. Just today though he's like 'meh it's too small to give a shit.'

Snowbird got nothin' better to do. smh

[scum]

At current difficulty, mining 1 BTC costs around $3000-$4000 depending on electricity costs - not including capital outlay.

Again...they cost $4000 to mine and they can't make money selling them for $8000?

which the fuck is it?

It's $3000-$4000 in electricity to mine a bitcoin plus $4000 in equipment costs. The electricity plus mining equipment costs makes it about $8000 to mine a coin.

At least that's what cointelegraph says. The mining equipment must be fucking expensive, and miners must need a hell of a lot of it judging by this mine.

[bluebits]

Can anyone come up with even a half-plausible explanation for the G20 to had any effect what-so-ever on the price?

They don't just all meet in a room, create and enforce global policy. At best it is small incremental amounts of policy coordination worked through each national government. This should be seen as .1% of the puzzle compared to the real action, the natural price cycles of waay way up, and what comes after..

[Rosewater Foundation]

Can anyone come up with even a half-plausible explanation for the G20 to had any effect what-so-ever on the price?

They don't just all meet in a room, create and enforce global policy. At best it is small incremental amounts of policy coordination worked through each national government. This should be seen as .1% of the puzzle compared to the real action, the natural price cycles of waay way up, and what comes after..

Wasn't this crash a mirror image of the last crash. I think TA lol was on to something

[infofront]

(img snipped for legibility)

See how similar does it look? It is all over GoX again. Bloodbath to $2k incoming. They won't let it shoot up again unless dumb people do panic sells below $5k.

I checked that page, but I don't get the point. It seems to have been written in 2017 and updated.

*Btw whoever made this TA is a fucking genius and a legend.

The statements and predictions are generic, and there are whole orders of magnitude between alternatives. Are you being serious or sarcastic?

I don't know what you're looking at, but it looks to me like he absolutely fucking nailed it:


(relevant "comment by img" snipped for legibility)

Allright, that's too many knowledgeable voices defending this analysis, including fabiorem and possibly others not quoted here. I guess I must be wrong and just failed to see value in that post. Maybe I should read it again, with more attention.

The chart Fabiorem posted showed a very different scenario just a few months prior. So, I think you were largely right.

That dude just throws out a bunch of scenarios, and happened to nail one. Still, I've gotta give him some credit.

[infofront]

Can anyone come up with even a half-plausible explanation for the G20 to had any effect what-so-ever on the price?

FUD.

[Last of the V8s]

Can anyone come up with even a half-plausible explanation for the G20 to had any effect what-so-ever on the price?

FUD.

It was. fud relief and TA lol coinciding.

[btcbeliever]

Should we shed a tear for many of the bears today? 



Hello, this is your margin call.

[bluebits]

I might need to adjust my models here, your explanations kind of make sense. Make-believe prices being swung be make-believe events, why not-

[Last of the V8s]

I might need to adjust my models here, your explanations kind of make sense. Make-believe prices being swung be make-believe events, why not-

fear and greed. that is all there is. no rationality. and TA
lol
~

http://www.businessinsider.com/lil-windex-interview-bitcoin-core-cash-2018-

[nazzer]

At current difficulty, mining 1 BTC costs around $3000-$4000 depending on electricity costs - not including capital outlay.

Again...they cost $4000 to mine and they can't make money selling them for $8000?

which the fuck is it?

It's $3000-$4000 in electricity to mine a bitcoin plus $4000 in equipment costs. The electricity plus mining equipment costs makes it about $8000 to mine a coin.

At least that's what cointelegraph says. The mining equipment must be fucking expensive, and miners must need a hell of a lot of it judging by this mine.

Looking at the new Canaan Avalon 841 - cost is about $2000+ each, at $8000 it would take ~2 years to recover the cost of the machine. Of course looking at that picture, buying machines in bulk with cheaper electricity they could probably recover the cost in less than a year especially with bitcoin prices fluctuating.

Below $7000, miners would probably just turn off their machines and just buy bitcoin instead

[Rosewater Foundation]

Our feels are being measured as we speak

Thomson Reuters, through its partnership with MarketPsych Data LLC, has launched a new version (v3.0) of its MarketPsych Indices (TRMI) which includes its first sentiment data feed for Bitcoin in addition to new and/or enhanced market sentiment data for several asset classes, new user capabilities, and additional coverage.  MarketPsych is a market leader in quantitative behavioral economics.

Over 400 news and social media sites, many specific to cryptocurrencies, were added to the feed.  Each site is scanned and scored in real-time, aiming to capture market-moving sentiments and themes.

https://www.thomsonreuters.com/en/press-releases/2018/march/thomson-reuters-launches-bitcoin-sentiment-data-feed-for-trading-and-risk-management.html

[smartcomet]

In the spirit of all the on topic charts and sharing going on I have updated my bitcoin difficulty vs mining hardware return sheet with today's bitcoin network difficulty increase.

As predicted the 5% average is holding strong. However come Friday with the next wave of hardware being shipped I wonder if the increase network hit will once again ring true that at this price point USD/BTC its best to simply buy BTC instead of mining hardware. That is if profit is your motivation.

Typically with crypto mining apart from hardware and infrastructure costs there is ongoing building labour and other miscellaneous overhead that is not being factored in this example.

Forgot to include the document link.
https://docs.google.com/spreadsheets/d/11QS1BBV11KNGTF8N_-fdfmjTZ3WzPQFbLfVrl5n6R8s/edit?usp=sharing

                                    diff                     BTC price $
2015-09-18        59,335,351,234                         220
2018-03-18    3,462,542,391,191  (~60X)          8100  (< 220*60=13200)