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Question: Oct. 23 Closing Price:
<$8,000 - 2 (3%)
$8,000-$8,500 - 0 (0%)
$8,500-$9,000 - 0 (0%)
$9,000-$9,500 - 0 (0%)
$9,500-$10,000 - 0 (0%)
$10,000-$10,500 - 1 (1.5%)
$10,500-$11,000 - 0 (0%)
$11,000-$11,500 - 3 (4.5%)
$11,500-$12,000 - 5 (7.6%)
$12,000-$12,500 - 16 (24.2%)
$12,500-$13,000 - 12 (18.2%)
$13,000-$13,500 - 8 (12.1%)
$13,500-$14,000 - 5 (7.6%)
>$14,000 - 14 (21.2%)
Total Voters: 66

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 23430674 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (148 posts by 37 users deleted.)
criptix
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March 29, 2018, 07:09:50 AM

Which is why difficulty can fall my dear boy.  

Difficulty may fall, but the amount of equipment built won't fall. Bitcoiners are dumb thinking that difficulty just drops and some people just turn off their machinery. Who will those people be? Most of the bitcoin mining is done by specialized mining companies, that have a very specific business plan and expectations. These companies will go as much in debt as possible, just to keep the machines alive, because considering production logic, just turning off the purchased machinery is the worst option.
First ones to fall will be those, who will run out of credit and their collected coins "that were meant to be sold in better times" will be dumped on the market by bankruptcy proceedings. This will in turn create a chain reaction of price dropping more together with difficulty.
Bitcoin mining is heavily flawed because it's too expensive and it's attributes create an instability timebomb. Satoshi may have been a good coder but he was pretty dumb in economics and finance.

PoW mining would only work if it wouldn't be cheaper to mass-produce coins. Then decentralization would also work. Rewarding mass production PoW mining is idiocy at it's best.

The bigger the mining operation the greater part of mined coins get sold asap to pay mining expenses.

Private miners are the people who hold and sit on losses.

Again you do not understand where the security of the blockchain stems from.
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March 29, 2018, 07:14:46 AM
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If you think large miners are holding right now, then you dont understand their business model (obviously excluding bitmain’s bcash lol bags).
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March 29, 2018, 07:15:01 AM

Which is why difficulty can fall my dear boy. 

Difficulty may fall, but the amount of equipment built won't fall. Bitcoiners are dumb thinking that difficulty just drops and some people just turn off their machinery. Who will those people be? Most of the bitcoin mining is done by specialized mining companies, that have a very specific business plan and expectations. These companies will go as much in debt as possible, just to keep the machines alive, because considering production logic, just turning off the purchased machinery is the worst option.
First ones to fall will be those, who will run out of credit and their collected coins "that were meant to be sold in better times" will be dumped on the market by bankruptcy proceedings. This will in turn create a chain reaction of price dropping more together with difficulty.
Bitcoin mining is heavily flawed because it's too expensive and it's attributes create an instability timebomb. Satoshi may have been a good coder but he was pretty dumb in economics and finance.

PoW mining would only work if it wouldn't be cheaper to mass-produce coins. Then decentralization would also work. Rewarding mass production PoW mining is idiocy at it's best.

The bigger the mining operation the greater part of mined coins get wold asap to pay mining expenses.

Private miners are the people who holdand sit on losses.

Coins will only be sold if the current price is in a profitable level. If it isn't, then those coins are stored and the expenses are covered with debt.
This will create an illusion of bigger value, since the coins are stored not sold, but this illusion will drop very quickly as soon as the miners run out of credit before the coins become profitable again.
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March 29, 2018, 07:16:35 AM

$300 ETH soon

Yep we back at .055 again.

Im seeing that we might even retest .045 lol coz btc is going down.

#rip eth

Maybe you are saying this wrong?

Surely, there is a certain dynamic in which surely bitcoin is the leader, but still bitcoin seems to have some trouble recovering in part because there seems to be some need to shake some of these snot-nosed 13 year olds.... so if weak hands are being shook in the alts - including ETH.. then bitcoin is drug down a bit with them... even while bitcoin remains the pillar of fundamentals.. .. so yeah.... how far will bitcoin be drug down in this quagmire?  Will ETH find a bottom that is in the triple digits... or does it have to go lower..?  If ETH goes that low, will it drag bitcoin down with it too, somewhat?   

At some point bitcoin is likely to recover based on fundamentals, but many of the shit coin scams may bounce back with it, unless the pain of this particular correction is more harsh and enduring upon those shit coins.
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March 29, 2018, 07:16:51 AM

That’s not how it works sorry.  You may as well give up now.  

As for the shit coins, plenty of them will never bounce again.  It’s all part of the great shitcoin rotation.
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March 29, 2018, 07:18:26 AM

It's no point in trying to argue that the hashrate will drop together with the price.
We can jut look at the hashrate history and see that IT DOES NOT DROP together with the price: https://charts.bitcoin.com/chart/hash-rate

Miners are tied down and they continue production with a loss, just because they share the same foolish dream, that bitcoin is too big to fail. But the costs will eventually payed one way or another.
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March 29, 2018, 07:21:26 AM

Which is why difficulty can fall my dear boy.  

Difficulty may fall, but the amount of equipment built won't fall. Bitcoiners are dumb thinking that difficulty just drops and some people just turn off their machinery. Who will those people be? Most of the bitcoin mining is done by specialized mining companies, that have a very specific business plan and expectations. These companies will go as much in debt as possible, just to keep the machines alive, because considering production logic, just turning off the purchased machinery is the worst option.
First ones to fall will be those, who will run out of credit and their collected coins "that were meant to be sold in better times" will be dumped on the market by bankruptcy proceedings. This will in turn create a chain reaction of price dropping more together with difficulty.
Bitcoin mining is heavily flawed because it's too expensive and it's attributes create an instability timebomb. Satoshi may have been a good coder but he was pretty dumb in economics and finance.

PoW mining would only work if it wouldn't be cheaper to mass-produce coins. Then decentralization would also work. Rewarding mass production PoW mining is idiocy at it's best.

The bigger the mining operation the greater part of mined coins get wold asap to pay mining expenses.

Private miners are the people who holdand sit on losses.

Coins will only be sold if the current price is in a profitable level. If it isn't, then those coins are stored and the expenses are covered with debt.
This will create an illusion of bigger value, since the coins are stored not sold, but this illusion will drop very quickly as soon as the miners run out of credit before the coins become profitable again.


Yep and this is much more likely for private miners then big mining operations.

The expenses and possible losses are much greater for big mining operations.

Mining at a loss is not feasible and will inevitably lead to closure which leads to lower difficulity and to new mining operations.

The mining space is not homogenous.
HairyMaclairy
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March 29, 2018, 07:21:34 AM

Because their electricity costs are currently still lower than their revenue, you numpty.  Those miners should’ve been paid off a long time ago. Once it stops being profitable, they can just walk away.

If you’re going to troll, at least apply some brainpower first.
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March 29, 2018, 07:24:24 AM

Because their electricity costs are currently still lower than their marginal cost of production, you numpty.  

If you’re going to troll, at least apply some brainpower first.

Yeah, and the electricity costs are still 5billion $ a year (7$ billion overall revenue). And this is the point I was making in the start, that you tried to stear away. Your childish demagogy won't work here. 7 Billion still needs to be payed to miners every year just to keep this crap afloat.
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March 29, 2018, 07:25:17 AM

Pigs will always get slaughtered, and everyone who expected the bullrun to just continue after 2017 Dec, were greedy little pigs who got what they deserve. Same here, with pigs thinking that every little spike upwards marks a trend reversal to a new bullrun. These pigs will also get slaughtered. Everything is the same as 2014.

I nominate JayJuanGee for Lord of the Pigs.

Explain ur selfie roachie poachie.

What makes me a BIG pig, exactly?   

Don't I have a sustainable strategy that involves accumulation of BTC by buying when the price goes down and selling when the price goes up?  Is there something greedy about that?

Am I not gambling on every little turn of the BTC price by attempting to bet everything in one direction or another, but instead I am employing, incrementalism in my buy/sell approach, no?

Are you dissing me, because I don't buy into your more, supposedly conservative, PM point of view that actually doesn't really seem to hold value too well?

It seems that I don't follow your specific "knowledgeable" writings enough in order to understand how you would be arriving at your seemingly nonsensical conclusion to classify me as a kind of BIG pig within the subject matter of this thread.  Explain ur selfie.
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March 29, 2018, 07:27:23 AM

Pigs will always get slaughtered, and everyone who expected the bullrun to just continue after 2017 Dec, were greedy little pigs who got what they deserve. Same here, with pigs thinking that every little spike upwards marks a trend reversal to a new bullrun. These pigs will also get slaughtered. Everything is the same as 2014.

I nominate JayJuanGee for Lord of the Pigs.

Explain ur selfie roachie poachie.

What makes me a BIG pig, exactly?   

Don't I have a sustainable strategy that involves accumulation of BTC by buying when the price goes down and selling when the price goes up?  Is there something greedy about that?

Am I not gambling on every little turn of the BTC price by attempting to bet everything in one direction or another, but instead I am employing, incrementalism in my buy/sell approach, no?

Are you dissing me, because I don't buy into your more, supposedly conservative, PM point of view that actually doesn't really seem to hold value too well?

It seems that I don't follow your specific "knowledgeable" writings enough in order to understand how you would be arriving at your seemingly nonsensical conclusion to classify me as a kind of BIG pig within the subject matter of this thread.  Explain ur selfie.

I think that with less caffeine you would be normal.
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March 29, 2018, 07:28:13 AM

Because their electricity costs are currently still lower than their marginal cost of production, you numpty.  

If you’re going to troll, at least apply some brainpower first.

Yeah, and the electricity costs are still 5billion $ a year (7$ billion overall revenue). And this is the point I was making in the start, that you tried to stear away. Your childish demagogy won't work here. 7 Billion still needs to be payed to miners every year just to keep this crap afloat.

I can keep the entire Bitcoin network afloat on my laptop with a low enough difficulty. What’s your point?
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March 29, 2018, 07:29:21 AM

Because their electricity costs are currently still lower than their marginal cost of production, you numpty.  

If you’re going to troll, at least apply some brainpower first.

Yeah, and the electricity costs are still 5billion $ a year (7$ billion overall revenue). And this is the point I was making in the start, that you tried to stear away. Your childish demagogy won't work here. 7 Billion still needs to be payed to miners every year just to keep this crap afloat.

I can keep the entire Bitcoin network afloat on my laptop with a low enough difficulty. What’s your point?

My point is that you probably will in the future.
criptix
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March 29, 2018, 07:29:31 AM

$300 ETH soon

Yep we back at .055 again.

Im seeing that we might even retest .045 lol coz btc is going down.

#rip eth

Maybe you are saying this wrong?

Surely, there is a certain dynamic in which surely bitcoin is the leader, but still bitcoin seems to have some trouble recovering in part because there seems to be some need to shake some of these snot-nosed 13 year olds.... so if weak hands are being shook in the alts - including ETH.. then bitcoin is drug down a bit with them... even while bitcoin remains the pillar of fundamentals.. .. so yeah.... how far will bitcoin be drug down in this quagmire?  Will ETH find a bottom that is in the triple digits... or does it have to go lower..?  If ETH goes that low, will it drag bitcoin down with it too, somewhat?  

At some point bitcoin is likely to recover based on fundamentals, but many of the shit coin scams may bounce back with it, unless the pain of this particular correction is more harsh and enduring upon those shit coins.

Wrt ETH i think it was obvious because majority of the ICO's will need to liquidate at one point which would lead to a fall.

Shitcoins are just a way to increase your BTC holdings - in the future i imagine only a handful on altcoins that will survive:

Micro transactions, anonymity, smart conracts and x.
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March 29, 2018, 07:31:18 AM

Because their electricity costs are currently still lower than their marginal cost of production, you numpty.  

If you’re going to troll, at least apply some brainpower first.

Yeah, and the electricity costs are still 5billion $ a year (7$ billion overall revenue). And this is the point I was making in the start, that you tried to stear away. Your childish demagogy won't work here. 7 Billion still needs to be payed to miners every year just to keep this crap afloat.

So what you are saying is that if bitcoin doesn’t go up? It goes down?

  Shocked

HOLY FUCK!!!
HairyMaclairy
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March 29, 2018, 07:31:48 AM

Because their electricity costs are currently still lower than their marginal cost of production, you numpty.  

If you’re going to troll, at least apply some brainpower first.

Yeah, and the electricity costs are still 5billion $ a year (7$ billion overall revenue). And this is the point I was making in the start, that you tried to stear away. Your childish demagogy won't work here. 7 Billion still needs to be payed to miners every year just to keep this crap afloat.

I can keep the entire Bitcoin network afloat on my laptop with a low enough difficulty. What’s your point?

My point is that you probably will in the future.

It will be just me and my 5 million pals. Which apparently will not include you.

I would be OK if Bitmain went broke.
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March 29, 2018, 07:36:21 AM

Because their electricity costs are currently still lower than their marginal cost of production, you numpty.  

If you’re going to troll, at least apply some brainpower first.

Yeah, and the electricity costs are still 5billion $ a year (7$ billion overall revenue). And this is the point I was making in the start, that you tried to stear away. Your childish demagogy won't work here. 7 Billion still needs to be payed to miners every year just to keep this crap afloat.

So what you are saying is that if bitcoin doesn’t go up? It goes down?

  Shocked

Exactly. There is no option for stability and keeping present value. It either has to expand, or it will start shrinking very quickly. It's really like a pyramid scheme in that manner.
If coin production would cost less, then the price would drop as long as the speculators are selling and then it would stop. With high production costs it won't stop, but will squeeze every juice out of this thing as possible.
JayJuanGee
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March 29, 2018, 07:46:13 AM

There is a break down on a weak bear flag which has confirmed the process, expect Bitcoin to drop up to 7,200$ (or even more) but we can expect Bitcoin to bounce right back up again in 7,400$ (although this bounce probability is low). The MACD bullish crossover was not enough to stop the break down formed in the hourly chart but the crossover is a sign that Bitcoin could be back on a bullish trend in a short period. Cutting losses now might now be a good option as we don't know how deep will it fall or will it even fall.

Everything that you say makes sense, except for your seemingly nonsensical assertion about "cutting losses"... that seems stupid, from my perspective.

Why would anyone sell based on if there is uncertainty about the price going down, instead of just preparing to buy if the price goes lower?  In other words, if you were going to sell, you should have already sold ... but I know peeps like to wait until they see down movement and then sell, which seems to be very risky for causing selling towards the bottom rather than the opposite of buying as it goes down.

Anyhow, just a differing approach, I suppose... so I won't harp on your point, here, too much.    for now...  Cheesy Cheesy Cheesy
Dakustaking76
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March 29, 2018, 07:48:27 AM

Maybe someone remember we dipped to €4700 2 months ago ore something
That was the bottom, maybe iT Will break this time?


I hope not Ofcourse But were still bleeding in 3 months now...
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March 29, 2018, 07:57:47 AM
Last edit: March 29, 2018, 08:15:20 AM by pacman7331

Because their electricity costs are currently still lower than their marginal cost of production, you numpty.  

If you’re going to troll, at least apply some brainpower first.

Yeah, and the electricity costs are still 5billion $ a year (7$ billion overall revenue). And this is the point I was making in the start, that you tried to stear away. Your childish demagogy won't work here. 7 Billion still needs to be payed to miners every year just to keep this crap afloat.

So what you are saying is that if bitcoin doesn’t go up? It goes down?

  Shocked

Exactly. There is no option for stability and keeping present value. It either has to expand, or it will start shrinking very quickly. It's really like a pyramid scheme in that manner.
If coin production would cost less, then the price would drop as long as the speculators are selling and then it would stop. With high production costs it won't stop, but will squeeze every juice out of this thing as possible.

There is stability for those who bought at 250.
They couldn’t care less if it was 20k or 7k.
But, People invest in bitcoin because of the volitility.

I don’t care if mining plantations go into debt.
They don’t have to do that.  But the price of mining sets the bottom price of bitcoin’s value.
If it goes below yea they have to either get a loan or stop mining. Thus the price will either bottom or go down and bring difficulty down.
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