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

[Last of the V8s]

https://blog.bitmex.com/the-price-crash-the-impact-on-miners/

Conclusion and Price Commentary

While it may be true that mining pools selling Bitcoin to fund losses in the Bitcoin Cash hashwar may have been a catalyst for the reduction in the price, we think it’s easy to overestimate the impact of this. We are in a bear market and prices are falling regardless of the news or investment flows.

Furthermore, in a bear market prices seem to fall on non-news or bad news and ignore good news, while in a bull market the reverse appears true. We think it’s likely that prices would have been weak regardless of any miner selling prior to the Bitcoin Cash split. For cryptocurrency, trader sentiment is king.

This is likely to be a very tough time for the mining industry. However, for miners with lower costs, our basic analysis indicates that the situation may be better than people expect. If the miners acquired their equipment from Bitmain at below-cost prices, they could still be in the green, even when including depreciation and other administrative expenses.

+ hedging
also cites https://boltzmann.io/ticker/BTC - interesting site

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[1715061147]

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[El duderino_]

[El duderino_]

via Imgflip Meme Generator

What do you notice LFC

That she still have both her tits
She had a double mastectomy not that long ago to prevent breast cancer.

haha LoL its not about her ..... LFC will spot it

[El duderino_]

a brother is lost   

[HairyMaclairy]

via Imgflip Meme Generator

What do you notice LFC

That she still have both her tits
She had a double mastectomy not that long ago to prevent breast cancer.

haha LoL its not about her ..... LFC will spot it

It is about her

[El duderino_]

the 1 million CLUB

remember not everyone can have a FULL BTC

[El duderino_]

[bakasabo]

Sorry to interrupt, but someone explain why this kid is so popular in google search and forum topics?
Everybody keeps asking about him.

[empowering]

via Imgflip Meme Generator

What do you notice LFC

That she still have both her tits
She had a double mastectomy not that long ago to prevent breast cancer.

haha LoL its not about her ..... LFC will spot it

Her daughter appears to be a boy , with a limp wrist ?

(and has a certain hat)

[El duderino_]

the 1 million CLUB

remember not everyone can have a FULL BTC

21 Bitcoin to be in the club or is this some insane 1mil btc club that has a Max of like what 6 members?

just monday art drawings brother, i enjoy there creativity's

[empowering]

via Imgflip Meme Generator

What do you notice LFC

That she still have both her tits
She had a double mastectomy not that long ago to prevent breast cancer.

haha LoL its not about her ..... LFC will spot it

Her daughter appears to be a boy , with a limp wrist ?

(and has a certain hat)

Nah whoever wrote that article is probably in shit for referring her as a girl. I'm pretty sure she is transitioning into a boy. Something that's great for preteen children to do because they're so logical and ready to make lifelong lasting discussions.

I agree the correct time to transition children into zir's , get them while they are young

I also wholeheartedly agree with feeding dogs with a vegan diet

Only drink soy

Justin Trudeau is my hero

I let the neighbour fuck my wife while I cry in the wardrobe

[Colonel Panic]

I wasn't around in 2011.  Can you tell us more about what it was like?

My brain is frazzled and running on caffeine. Here are some loosely organized thoughts:

I started GPU mining around May 2011. BTC bubbled to ~$32 somewhere thereabouts (June-July?) and then collapsed to ~$2. The bear market was swift and brutal.

There was practically no infrastructure or major investment, aside from early ASICs that would soon come online. Hell, Roger Ver's memorydealers.com was one of the few places you could even spend bitcoins. Mt. Gox was basically the only exchange, of course.

Home GPU miners like me were a major part of the ecosystem, and we were purged at this time, as decreasing prices and skyrocketing difficulty soon made mining unprofitable. There was a sort of loss of innocence as we were wiped out and large industrial mining farms took over.

The overall feeling was similar to other bear markets - agony, despair, etc. However, many of us took to heart the rumors of bitcoin's demise. It seemed likely that bitcoin would, at best, remain something of a hobby for cypherpunks. OTOH, the despair was different. It was more about the loss of a dream, and less about the loss of money. Since BTC was so cheap, most people only had like a few grand invested, at most. Unlike Dec. 2017-18 when even the shoeshine boy lost $100K+.

Pretty sure I was still GPU mining till the end of 2012. IIRC the upgraded card in my MacPro would earn about a third of a coin a day. Hardly seemed worth it, but as you say, it was a hobby thing, not so much about the money. And I think it was FPGAs in 2011, not yet ASICs.

[empowering]

Pretty sure I was still GPU mining till the end of 2012. IIRC the upgraded card in my MacPro would earn about a third of a coin a day. Hardly seemed worth it, but as you say, it was a hobby thing, not so much about the money. And I think it was FPGAs in 2011, not yet ASICs.

"Kernel" would have been a nice touch

[Colonel Panic]

Pretty sure I was still GPU mining till the end of 2012. IIRC the upgraded card in my MacPro would earn about a third of a coin a day. Hardly seemed worth it, but as you say, it was a hobby thing, not so much about the money. And I think it was FPGAs in 2011, not yet ASICs.

"Kernel" would have been a nice touch

Best to let the audience do a little work!

[El duderino_]

via Imgflip Meme Generator

Off topic

But this guy f***s up Belgium

[LFC_Bitcoin]

via Imgflip Meme Generator

What do you notice LFC

I have to be honest, the first thing I noticed was nipples but yesssss go Angelina!

[d_eddie]

By the way, I don't believe the current market move in the slightest. No moon yet, gentlemen. Relax. This is just a longer, slower short squeeze along the way to the final, brutal crevice.

Accordingly - my money where my mouth is - I've closed my short with a small-mid profit (take profit limit just under my entry) and reopened it a bit higher. It's smaller, too, but I'm afraid to make it grow too quickly. An incremental ladder à la (reverse) JJG/JB is better in my experience.

To fellow tactical shorters (I'm thinking HM and others) - LDOH! (that's hodl in reverse).

Some things do not work in reverse.
They are based on different theories, and differing underlying assumptions.

Well some things actually do work in reverse. All it takes is a reversed perspective (up vs. down).
The same guy who is a long term optimist (bull) might see a downside on the short term and try to either (partially) hedge his holdings or make some profit out of the ongoing trend.

[vapourminer]

The overall feeling was similar to other bear markets - agony, despair, etc. However, many of us took to heart the rumors of bitcoin's demise. It seemed likely that bitcoin would, at best, remain something of a hobby for cypherpunks. OTOH, the despair was different. It was more about the loss of a dream, and less about the loss of money. Since BTC was so cheap, most people only had like a few grand invested, at most. Unlike Dec. 2017-18 when even the shoeshine boy lost $100K+.

You guys deserve respect for persevering through that. You pretty much blazed the trail that we could look back on for confirmation that Bitcoin would survive the worst.

just wanted to confirm what infofront posted about 2011 - 2012.

i started mining late(ish) 2011, at first using an existing ATI HD4850 on my gaming rig (my main distributed computing rigs, nvidias on folding@home, stayed on that), then dropping a couple grand on a rig built for BTC mining specifically. ATI HD6870 and HD5830s where the gotos at that point

it was more or less surreal as back then, for me it was just another experiment in distributed computing with a new kind of money storage theme, and distributed computing was very familiar to me from other projects.

price was ~$10 when i started. went up to ~35. YES! then the loooong decline to ~$2. but i kept mining to support the experiment then, and really did not expect any monetary gains. but guess where a large part of my current stack is from. yup, the $2 per coin mining days.

not that btc cant fail, but accumulation during the cheap coins day sure paid off for me. i intend to keep that strategy.

[gembitz]

Sorry to interrupt, but someone explain why this kid is so popular in google search and forum topics?
Everybody keeps asking about him.

 


reeeeeeee

[gembitz]

the 1 million CLUB

remember not everyone can have a FULL BTC

21 Bitcoin to be in the club or is this some insane 1mil btc club that has a Max of like what 6 members?

just monday art drawings brother, i enjoy there creativity's

You didn't draw these right?

 

#thread