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

[realr0ach]

After all, I fight TPTB with BTC because I don't see any other way currently.

[marcus_of_augustus]

Cost of production plummeting ... no sign of bottoming anytime soon either

[HairyMaclairy]

Anyone have a chart comparing 2014 bear market difficulty to present day?

[infofront]

Also, did anyone notice Gentlemand is a weirdo?  Not JayJuanGee level weirdo, but more like creepy, Dennis Rader style weirdo.

That's his gimmick.

[bitserve]

Anyone have a chart comparing 2014 bear market difficulty to present day?

We have never had a drop as hard as current one. Bitcoin difficulty kept growing for most of 2014 with some drops at the end, and in early 2015, but basically the difficulty remained more or less constant for over a year.

[PoolMinor]

Anyone have a chart comparing 2014 bear market difficulty to present day?

sort of...









https://www.blockchain.com/charts/difficulty?timespan=all

[d_eddie]

All this doom and gloom, but I'm on for earning nearly 0.1btc today through funding on Bitfinex. So I'm happy enough

I don't deal with Bitfinex because it feels like too much counterparty risk. But the rent one can get paid is pretty indeed. Sometimes I feel that itch... and I manage to scratch it off.

[d_eddie]

WEEEEEEEeeeeeEEeEEeeEEEEEeEEEeE
weeeEEEeEE wEEEEeé WeeeEEeeEeEeE

FINDING BLOCKS? BLEEP BLEEP  

WEEEEEEEeeeeeEEeEEeeEEEEEeEEEeE
weeeEEEeEE wEEEEeé WeeeEEeeEeEeE = GONNA WATCH TV NOW THE GF IS SAYING STOP TALKING WEEEEE ON BITCOINTALK

WEEeee weEeeEeeeeeEEEEE

Uh. Wee wee weeEE. (Don't displease tha babe.)

I have returned from dinner and the party starts again.
I lack time to follow the pages of WO, very, very, fast

My wife is worried, she says I've been very strange for four days.

(4 / december first time in WO, lol)

Weee.

[Biodom]

Anyone have a chart comparing 2014 bear market difficulty to present day?

I actually researched this.

Difficulty declined (on a sustained basis) only during 2011 bear market: from 7/31/2011 to 12/10/2011 or about 4 mo (plus 10 days).
The decline was about 42% and btc bottomed Nov 19 2011 at $2, which is 20 days before difficulty bottoming, so price was leading, as expected.
Difficulty did not decline (on a sustained basis) during 2014-2015 bear market.
Right now difficulty is flat or declining since 10/6 or about two months.
Does this predict that we might be 30-40 days from price bottom?
Maybe, but i wouldn't put my money on this.
BTW, we lost about 21% so far and next drop looks like 6-7%.

Sources:
https://www.blockchain.com/en/charts/difficulty?scale=1&timespan=all
https://bitcoinwisdom.com/bitcoin/difficulty

[d_eddie]

I have returned from dinner and the party starts again.
I lack time to follow the pages of WO, very, very, fast

My wife is worried, she says I've been very strange for four days.

(4 / december first time in WO, lol)

Why not open an account for her and talk to each other on here? We can give you marital guidance plus it's a fun memorial for your kids.

It's mo' better than mic's TV anyway. No match.

[Hueristic]

 I asked two of my colleagues at work (on separate occasions) if they would refrain from wearing the cologne they were using - I even offered to purchase it from them so they weren't out any money.  One of them stopped wearing it (and didn't want my money) and the other one said "Would you rather I came to work smelling like BO?!"  Yes... yes I would.
 

Tell him to fucking take a shower, smelling like a french whore with cologne poured ontop is even worse than just the BO. He apparently thinks the two are diametrically opposed, what kind of morons do you work with? I made a senior engineer stand on the other side of the room because he refused breath mints before I had even gone through a 6 month probation period and the rest of the company loved me for it.

[jojo69]

i am reading this a few days per week, lately every 1 or 2 days if i have time

and, i cant stand it anymore, so i am gonna pop the question



whats up with the hats?

circle jerk.

sour grapes

[rolling]

Anyone have a chart comparing 2014 bear market difficulty to present day?

That's a hard chart to make meaningful. Different hardware availability, different hardware profitability, and different scales of mining companies. Too many variables really.

Anecdotally though, as a former miner from back then, I think this crash is a little bit deeper for miners (evidenced by the decreasing hash rate). I was mining back then and I was profitable until the second half of 2015 at which point I was mining at about break even for "electricity only" with $250 BTC. I was losing money on the facility costs and made no money for my time invested.

The operations now days are much larger with much larger fixed costs for facilities, loans and employees. $6000 was probably break even for them with the difficulty of a month ago. Now, difficulty is down ~20% and prices are down ~40%.

Every miner in the world is likely losing money now if they sell mining proceeds daily. Very few miners do that though. As a miner, you are a trader by default. Just like a farmer, you store your crops if you can and wait for the best time to sell. The longer these prices remain, the more miners will file for bankruptcy or sell their stash to cover basic necessities such as electricity and payroll.

With enough bankrupt miners, the difficulty should theoretically drop another 20% while prices stay ~$3500 to balance things out.


EDIT: The point though is that we are in the second half of 2015 if you are using mining difficulty/profitability as an indicator and comparing the last bear market to this one.

[jojo69]

https://www.youtube.com/watch?v=kxbCHlXZ-0U
We are closing. The hard truth behind crypto.
(re mining)

waaaanh

[jojo69]

I have returned from dinner and the party starts again.
I lack time to follow the pages of WO, very, very, fast

My wife is worried, she says I've been very strange for four days.

(4 / december first time in WO, lol)

nobody fucking cares , did we ask for your life story

who's "we" asshole

[jojo69]

for taxes or extortions?

Entrance to the $100k party.

You ain't getting in.

just have to keep posting enough shit here. you'll beg me to come, eventually. :>

I rather think not

welcome to my ignore list

[d_eddie]

trichotomous

Is that a three headed hippo?

Where's your stop profit?

Stopped using them because I always got it wrong.  Instead I chase the price downwards with a scale out of stop losses.  So let the market make the decision.  Its the JJG School of Shorting^TM, gradually sell on the way down and then gradually buy on the way back up.

I call it a "negative ladder" made of shorts rather than longs or physical.

[gwaur]

for taxes or extortions?

Entrance to the $100k party.

You ain't getting in.

just have to keep posting enough shit here. you'll beg me to come, eventually. :>

I rather think not

welcome to my ignore list

likewise.

[xhomerx10]

That stuff is just awful. It reminds me preppie boys in the Eighties, and awful pastel colors. And come on; tell me that you couldn't tell me George Michaels was totally flaming back when he was still in WHAM! - while we're talking about awful colors and the Eighties...

 George Michael and Boy George.  There was a lot of weird stuff in the 80's... sweater-over-shoulders, mullets (men and women), perms, big gold chains and jazzercise!




edit: I totally forgot about 80's hair bands!



 Oh wait... huh!

[Dogboy714]

Anyone have a chart comparing 2014 bear market difficulty to present day?

This guy has a nice color visual of it. He also makes a strong case that nothing matters but the halven'ing!
Buy aqua - sell orange!

https://mobile.twitter.com/100trillionUSD