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

[xhomerx10]

I am officially mining bitcoin!!!  

Hm, is it still profitable? Just canceled my BFL order, bastards....

i don't have a clue!

in 2 years when the contacts are done, ill let you know

my guess, i'll get the $ value i put into it for sure, no problem, but i paid in BTC... I should of held my BTC but i could not resist the numbers, at the time ( when mining difficulty had just started to rise ) it seemed like i was going to double or even triple my BTC ( even considering that dif would keep going up) , so i figured difficulty can not go up that much more then I estimate and i would at least get 110% of my invested BTC back, and so i bought like a mad fool.

difficulty rose way WAY higher / faster than i anticipated, and now i'm holding contracts that are likely not going to make half the BTC i put in...

You can figure it out.  Take the hashing rate of the contract you purchased in hashes/sec divide it by the current difficulty and multiply by 0.013064576229
The result is the number of Bitcoins you will ever make based on the current rate of difficulty rise.  The cost of electricity is not a consideration in this calculation.

Take care

[ChartBuddy]

[ChartBuddy]

[cedivad]

We should open a new mining company. A virtual mining company that sells shares.

We will give you back 25% of your investment in 2 years. No hardware required.

[ChartBuddy]

[rpietila]

We should open a new mining company. A virtual mining company that sells shares.

We will give you back 25% of your investment in 2 years. No hardware required.

Yeah. What is the problem?? If we actually bought hardware, that would further diminish the yield by increasing difficulty!! 

[TERA]

Suddenly large staggered sell walls are stacked on all exchanges. It looks like someone doesn't want us to start an uptrend just yet, or they have some DEEP capitulation to do, like in May/June. I remember both sides of order books being large like this and fighting eachother in May after the conference.

[klee]

We should open a new mining company. A virtual mining company that sells shares.

We will give you back 25% of your investment in 2 years. No hardware required.

Yeah. What is the problem?? If we actually bought hardware, that would further diminish the yield by increasing difficulty!! 

What if a wicked billionaire bought tons of asics and put them in IDLE mode?

[ChartBuddy]

[ShroomsKit]

Any proof those are SR's earnings?

And why in blocks of 324 BTC, seems to be a completely arbitrary number?

324 = FBI on a phone keybord. (it was is Girlfriend sitting in the wafting room doing laundry)

While this sounds like conspiracy, this could be a bigger public scam than the first Pirate to hit the Bitcoin tabloids.  I will reserve judgment until I see an official statement form a related department or many reporters report of a hearing in a US courtroom.    

What?

[ardana123]

Why is it I see Preet Bharara's name every time a bust happens in relation to the bitcoin world? First liberty reserve, now silk road... This guy is the US attorney for the southern district of New York apparently. So why is he involved in bringing down organisations that deal in money laundering and drug traficing?

[Fuyuki_Wataru]

I know how vertical chartss work. But the bitcoin charts seem to be horizontal, which confuses me. Anyone care to explain how you read those things?

http://btccharts.com/

[ChartBuddy]

[MikeH]

I think blockchain.info's being hammered as people check out the DPR transactions, timing out now.

[molecular]

I am officially mining bitcoin!!! 

not feathercoin?

[molecular]

I am officially mining bitcoin!!!  

Hm, is it still profitable? Just canceled my BFL order, bastards....

i don't have a clue!

in 2 years when the contacts are done, ill let you know

my guess, i'll get the $ value i put into it for sure, no problem, but i paid in BTC... I should of held my BTC but i could not resist the numbers, at the time ( when mining difficulty had just started to rise ) it seemed like i was going to double or even triple my BTC ( even considering that dif would keep going up) , so i figured difficulty can not go up that much more then I estimate and i would at least get 110% of my invested BTC back, and so i bought like a mad fool.

difficulty rose way WAY higher / faster than i anticipated, and now i'm holding contracts that are likely not going to make half the BTC i put in...

You can figure it out.  Take the hashing rate of the contract you purchased in hashes/sec divide it by the current difficulty and multiply by 0.013064576229
The result is the number of Bitcoins you will ever make based on the current rate of difficulty rise.  The cost of electricity is not a consideration in this calculation.

Take care

I wouldn't say this is a good way... The bolded assumption almost certainly not going to hold over the course of 6 months, let alone 2 years.

You'd have to calculate different scenarios of difficulty growth.

[DougTanner]

Looks like we're settling in for a boring weekend. See you Monday!   

[ChartBuddy]

[ag@th0s]

More thoughts on being shit at trading and why Macbeth was wrong.
Looking at my trading history I wondered what my position would be if I'd simply bought 1BTC a week for every week since I first traded at Bitstamp on 3rd May.  If I'd bought one coin before midday on every Friday since, I'd now have 26BTC at an average price of $111.51 and in fiat terms (as of today @ $183.49) - I'd have made 64% profit on my outlay.  As it is, I've got less than half the coins - down about $100 and Bitstamp are the only ones who've made any profit

[rpietila]

You'd have to calculate different scenarios of difficulty growth.

That does not alter the outcome very much though, as the near future is near certain and after 2 months, not many coins will be generated in any scenario.