HairyMaclairy
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Merit: 2174
Degenerate bull hatter & Bitcoin monotheist
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September 04, 2018, 06:49:03 AM |
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V8 you are supposed to start with “be me”
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DaRude
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Activity: 2860
Merit: 1859
In order to dump coins one must have coins
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September 04, 2018, 08:49:05 AM |
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Only ~280k BCH have been mined since the end of March. Plus, they have stopped only accepting BCH for their equipment. Also, they now have competitors that are putting out better equipment then they are putting out. I doubt that they have accumulated 1.2 million BCH. They are strapped for cash and it does not appear their IPO is going to go over very well. I really doubt that they are in any position to attempt to buy more BCH. However, BCH has a few more billionaires who probably do have the resources to bolster the price of BCH. I'm afraid antminer's days are numbered unless they can get something going their way ASAP.
Ok your math checks out. So the increase in BCH from Dec 31 to March 31 is ~162,00 for mining. 214,000 - 162,000 leaves 52,000 acquired by other means. Hardware sales of 52,000 x $1500 average price = $78 million in sales in first quarter? I don’t know if that is realistic or not. this is a good article on the topic. they made a good deal of BCH from sales of ASICs. https://medium.com/@btcWolves/a-bch-update-bitmain-bch-the-ipo-what-it-all-actually-means-354220b86ac3Bottom line the trend is clear, their BTC reserves are going down and bcash reserves are going up. Only one of those two is sustainable. And trends point to their BTC piggy bank already being exhausted. I'd love to short that turd on day one if they actually find enough idiots to carry them into IPO with those books. (How about we dump $10MM into illiquid market that we control thus bringing up our pre-ipo market cap by few billions! genius! Now who wants to buy these?) Can't wait for the news, first blockchain IPO flaps on the opening day and "bitcoin" will die one more time
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bitserve
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Activity: 1834
Merit: 1477
Self made HODLER ✓
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September 04, 2018, 09:33:38 AM |
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Only ~280k BCH have been mined since the end of March. Plus, they have stopped only accepting BCH for their equipment. Also, they now have competitors that are putting out better equipment then they are putting out. I doubt that they have accumulated 1.2 million BCH. They are strapped for cash and it does not appear their IPO is going to go over very well. I really doubt that they are in any position to attempt to buy more BCH. However, BCH has a few more billionaires who probably do have the resources to bolster the price of BCH. I'm afraid antminer's days are numbered unless they can get something going their way ASAP.
Ok your math checks out. So the increase in BCH from Dec 31 to March 31 is ~162,00 for mining. 214,000 - 162,000 leaves 52,000 acquired by other means. Hardware sales of 52,000 x $1500 average price = $78 million in sales in first quarter? I don’t know if that is realistic or not. this is a good article on the topic. they made a good deal of BCH from sales of ASICs. https://medium.com/@btcWolves/a-bch-update-bitmain-bch-the-ipo-what-it-all-actually-means-354220b86ac3Bottom line the trend is clear, their BTC reserves are going down and bcash reserves are going up. Only one of those two is sustainable. And trends point to their BTC piggy bank already being exhausted. I'd love to short that turd on day one if they actually find enough idiots to carry them into IPO with those books. (How about we dump $10MM into illiquid market that we control thus bringing up our pre-ipo market cap by few billions! genius! Now who wants to buy these?) Can't wait for the news, first blockchain IPO flaps on the opening day and "bitcoin" will die one more time I have mixed feelings on this one. For once I have always been very critic with some (not all to be honest) of Bitmain tactics and, mainly, I think they are a menace due to their almost monopolistic control of the mining hardware (something that seems to be lowering though)... but, OTOH, I don't think a complete instant failure would be good. I would very much prefer they just go slowly down into irrelevancy over the years. The problem here is that they seem to be working hard to go belly up as fast as they can and that could have a negative short term impact on the ecosystem. Good thing their BTC reserves doesn't seem to be a huge threat right now as it would have been the case in 2017. Anyway... let's see what turns out of this....
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d_eddie
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Activity: 2590
Merit: 3312
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September 04, 2018, 09:42:21 AM |
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Bottom line the trend is clear, their BTC reserves are going down and bcash reserves are going up. Only one of those two is sustainable. And trends point to their BTC piggy bank already being exhausted. I'd love to short that turd on day one if they actually find enough idiots to carry them into IPO with those books. (How about we dump $10MM into illiquid market that we control thus bringing up our pre-ipo market cap by few billions! genius! Now who wants to buy these?)
Can't wait for the news, first blockchain IPO flaps on the opening day and "bitcoin" will die one more time
I have mixed feelings on this one. For once I have always been very critic with some (not all to be honest) of Bitmain tactics and, mainly, I think they are a menace due to their almost monopolistic control of the mining hardware (something that seems to be lowering though)... but, OTOH, I don't think a complete instant failure would be good. I would very much prefer they just go slowly down into irrelevancy over the years. The problem here is that they seem to be working hard to go belly up as fast as they can and that could have a negative short term impact on the ecosystem. Good thing their BTC reserves doesn't seem to be a huge threat right now as it would have been the case in 2017. I am with bitserve on this one. To quote the greats, we need another shitstorm like we need a hole in our heads. And as long as it's impossible to produce an accurate estimate of their BTC reserves, we can't possibly know how many waves, and how big, their death throes can create.
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HairyMaclairy
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Activity: 1414
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Degenerate bull hatter & Bitcoin monotheist
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September 04, 2018, 09:48:56 AM |
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Golden cross on 90 day MA Golden cross on 30 week MA creeping closer
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El duderino_
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Activity: 2604
Merit: 12685
BTC + Crossfit, living life.
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September 04, 2018, 10:50:15 AM |
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Time to surpass the 7300..... let the high Numbers come
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HairyMaclairy
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Activity: 1414
Merit: 2174
Degenerate bull hatter & Bitcoin monotheist
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September 04, 2018, 10:54:39 AM |
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scambust
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Merit: 1007
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September 04, 2018, 10:58:29 AM |
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Can't wait for $7500 resistance be breached convincingly otherwise back to $6700 area again.
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Raja_MBZ
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Merit: 1505
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September 04, 2018, 11:20:04 AM |
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Even if you find some similar pattern, there is a pretty low chance that they are correlated, and they may even have a bit of reverse correlation going on. Perhaps your two charts demonstrate that you can compare anything as long as you tweak the time lines? Well, this can't be ignored; they're just way too similar to be ignored. I know why you're hating it a bit, it's probably because of the difference of "billion" and "trillion" in ATH of both the graphs. If bitcoin follows it further, we'll see a new ATH in December next year. I think none of us would mind having a new ATH next year, would you? Plus imagine for a second, if that happens then after one and a half year, people will start looking at the bitcoin's graph to see where NASDAQ is going in the future.
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vroom
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Activity: 1304
Merit: 1682
a Cray can run an endless loop in under 4 hours
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September 04, 2018, 11:44:31 AM |
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chart patterns can be found and matched to anything. it's just a matter of the correct zoom and time frame. all this comparisons and chart predictions reminds me of this movie: A merit for the first one who guesses the correct movie title.
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LFC_Bitcoin
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#1 VIP Crypto Casino
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September 04, 2018, 11:51:58 AM |
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chart patterns can be found and matched to anything. it's just a matter of the correct zoom and time frame. all this comparisons and chart predictions reminds me of this movie: A merit for the first one who guesses the correct movie title. Clever Will Hunting (Matt Damon) Maybe?
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AR_fan
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Activity: 49
Merit: 6
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September 04, 2018, 11:53:39 AM |
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chart patterns can be found and matched to anything. it's just a matter of the correct zoom and time frame. all this comparisons and chart predictions reminds me of this movie: A merit for the first one who guesses the correct movie title. Pi https://www.imdb.com/title/tt0138704/?ref_=nv_sr_5
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Torque
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September 04, 2018, 11:54:28 AM Last edit: September 04, 2018, 12:06:27 PM by Torque |
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OT - Warren Buffett thinks that stock buybacks are "the best use of capital" https://www.cnbc.com/2018/08/31/warren-buffett-explains-the-enduring-power-of-stock-buybacks.htmlTranslation:"Instead of cap ex investing, companies should buyback their own overpriced stock shares with free money from the gov't so that they can sell them at an even higher price to the ignorant greater fool Average Joes in the future when the economy recovers!" Gaslighting the public at its finest, lol
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mdayonliner
Copper Member
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Activity: 630
Merit: 420
We are Bitcoin!
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September 04, 2018, 11:54:40 AM |
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Where ever the pattern goes, it does not matter for me.... I'm ⊂_ヽ \\ f*cking \( ͡° ͜ʖ ͡°) > ⌒ヽ / へ\ / / \\awesome レ ノ ヽ_つ / / / /| ( (ヽ | |、\ | 丿 \ ⌒) | | ) / ノ ) Lノ (_/ Courtesy to a twitter user.
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ivomm
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All good things to those who wait
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September 04, 2018, 11:56:22 AM |
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crypmike
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September 04, 2018, 12:07:26 PM |
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It tries to fly )
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vroom
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Activity: 1304
Merit: 1682
a Cray can run an endless loop in under 4 hours
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September 04, 2018, 12:08:04 PM |
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chart patterns can be found and matched to anything. it's just a matter of the correct zoom and time frame. all this comparisons and chart predictions reminds me of this movie: A merit for the first one who guesses the correct movie title. Pi https://www.imdb.com/title/tt0138704/?ref_=nv_sr_5that was fast it's one of my favourite movies, I really recommend watching this low budget ($70,000) movie.
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AR_fan
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Activity: 49
Merit: 6
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September 04, 2018, 12:10:06 PM |
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chart patterns can be found and matched to anything. it's just a matter of the correct zoom and time frame. all this comparisons and chart predictions reminds me of this movie: A merit for the first one who guesses the correct movie title. Pi https://www.imdb.com/title/tt0138704/?ref_=nv_sr_5that was fast it's one of my favourite movies, I really recommend watching this low budget ($70,000) movie. one of my favorite movie too too few people know about it !
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d_eddie
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Activity: 2590
Merit: 3312
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September 04, 2018, 12:17:16 PM |
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It feels like a Monday. And it's an UP Monday!
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d_eddie
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September 04, 2018, 12:31:24 PM |
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Buffett in particular has always been more careful than others with buybacks - insisting on a low price/book value ratio before actually buying back. But he recently pulled up the minimum threshold, as I'm sure you know. Buffett's attitude is similar with regards to dividends. "Just sell some," he says. The guy's biased as an old school cobalt tape, but he is no dummy and does know about value - at least in his old-school stocks and securities realm.
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