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

[samsonn25]

Nest major supports $340 then $105   idk

[findftp]

Some people think Bitcoin is indestructible, when it is not. In fact, it is very fragile.
http://www.cryptocoinsnews.com/news/bitcoin-really-fragile-bitcoin-core-developer-mike-hearn/2014/09/01

OMG SELL SELL SSSSHHHHHEEEEELLLLLL11111!

You mean that she sell sea shells on a sea shore?

I would suggest to buy or hodl.

Sell only if you need urgent cash.

Regards.

You are right, it was sarcasm,..
I only buy and hold, and sometimes spend  a little on drinks to buy it back the next day.

[JorgeStolfi]

You actually can make ROI [ with mining ] if you have solar panels or some other free source of eletricity so you can run your miners 24/7 for free. And with selling mining contract you could make even more if you would count the cost of electricity and make the customer pay for it.

But solar power is not free, one has to pay for the panels & electronics.  AFAIK the cost of solar electricity, once the installation costs are included, is still higher than that of grid power.

And you will also need hefty batteries to run multi-kW miners 24/7.

[JorgeStolfi]

No hardware is profitable now in mining, unless you can get it for FREE.  Not even Gen 3 hardware can ROI 35-40% back of hardware cost when they come out.   Or you have no cost for electricity and can get hardware at big discount because the capital investment for the equipment will never mine it back.

Is Crypto done??   

No, not for that reason.  If true, it means only that there is excess supply of hashing power at this point.  The system has yet to find the free market equilibrium.  It can hardly do that while the price does not stabilize.  Meanwhile, miners may run into substantial losses or gains.

[macsga]

Well, I have quit mining since sometime in 2013. Last month I've decided to get back in (you may be interested into our little project if you're into the EU area: http://goo.gl/xtJZIr). What made me decide to get involved again wasn't the possibility of ROI of the invested machines, but several other reasons. What I believe is the best for all miners out there, is to mine and hold because at some point in the near future they will be very sad they didn't.

The current prices are indicating that only the true believers are going to stay into the game. Same goes for miners and/or for traders. The traders have the advantage of fast gains (also fast loss), the miners don't. But without miners there will be no trading. So they both may want to revise their tactics. It's not that hard to understand where this is going!

[Tzupy]

...
The current prices are indicating that only the true believers are going to stay into the game.
...

This is very bearish, because bitcoin price needs new bagholders, with plenty of fiat and willing to buy high.
True believers have millions of bitcoins, and a fair amount of fiat, but way to little fiat to pump the price into another mania.

[JorgeStolfi]

What made me decide to get involved again wasn't the possibility of ROI of the invested machines, but several other reasons. What I believe is the best for all miners out there, is to mine and hold because at some point in the near future they will be very sad they didn't.

But (as many others have pointed out), if one believes that the price will rise enough at some future time, why not just buy bitcoins on the market, rather than mining them for a cost that is higher than their market price?

[criptix]

You actually can make ROI [ with mining ] if you have solar panels or some other free source of eletricity so you can run your miners 24/7 for free. And with selling mining contract you could make even more if you would count the cost of electricity and make the customer pay for it.

But solar power is not free, one has to pay for the panels & electronics.  AFAIK the cost of solar electricity, once the installation costs are included, is still higher than that of grid power.

And you will also need hefty batteries to run multi-kW miners 24/7.

Solar panels are devices with ROI - after a certain time you will have profit, though we are talking about years.

Also you would not need batteries if you have overhead on electricity which you can input into the (local) electricity network at day to receive it later at night.

[criptix]

...
The current prices are indicating that only the true believers are going to stay into the game.
...

This is very bearish, because bitcoin price needs new bagholders, with plenty of fiat and willing to buy high.
True believers have millions of bitcoins, and a fair amount of fiat, but way to little fiat to pump the price into another mania.

im pretty sure that bitcoin doesnt need that lol.
bitcoin would still work with a price of 1$.

anyway true believers are more like this:

[ChartBuddy]

Explanation

[grappa_barricata]

im pretty sure that bitcoin doesnt need that lol.
bitcoin would still work with a price of 1$.

anyway true believers are more like this:

Awesome 

[macsga]

...
The current prices are indicating that only the true believers are going to stay into the game.
...

This is very bearish, because bitcoin price needs new bagholders, with plenty of fiat and willing to buy high.
True believers have millions of bitcoins, and a fair amount of fiat, but way to little fiat to pump the price into another mania.

im pretty sure that bitcoin doesnt need that lol.
bitcoin would still work with a price of 1$.

anyway true believers are more like this:

If this doesn't convince you, I really don't know what will...

[macsga]

What made me decide to get involved again wasn't the possibility of ROI of the invested machines, but several other reasons. What I believe is the best for all miners out there, is to mine and hold because at some point in the near future they will be very sad they didn't.

But (as many others have pointed out), if one believes that the price will rise enough at some future time, why not just buy bitcoins on the market, rather than mining them for a cost that is higher than their market price?

This is not always the case. Yes it would have been more profitable to me but only short term and finite. The second thing is the mining role to the bitcoin transaction network (I believe it will be implemented on the next update). This is important IMHO. Again Jorge, it's all a matter of perspective.

[roslinpl]

Some people think Bitcoin is indestructible, when it is not. In fact, it is very fragile.
http://www.cryptocoinsnews.com/news/bitcoin-really-fragile-bitcoin-core-developer-mike-hearn/2014/09/01

OMG SELL SELL SSSSHHHHHEEEEELLLLLL11111!

You mean that she sell sea shells on a sea shore?

I would suggest to buy or hodl.

Sell only if you need urgent cash.

Regards.

You are right, it was sarcasm,..
I only buy and hold, and sometimes spend  a little on drinks to buy it back the next day.

Sorry at first I am not too good in finding a sarcasm in people's posts
But this time I knew that you are sarcastic indeed :-) I just decided to give some good advice to those who are starting to panic and those who are thinking about sell sell sell :-)

[Newbie1022]

AIDS... that is the problem. Bitcoin has AIDS.

[NotLambchop]

...
Solar panels are devices with ROI - after a certain time you will have profit, though we are talking about years.
...

I suppose if you sell electricity at the couture prices to PETA/SCRYPT bagholders you would.  Otherwise, not so much.
That's why real power companies don't run solar cells unless they're subsidized

[X7]

Been doing lots of research for a long time into our economy and what gives us belief in the system and how it works.

Pretty stomach turning shit once you get into the nitty gritty of it - once history repeats itself as it always does, we will see a loss of faith in the US dollar which will lead to people turning to gold or hopefully BTC.. That will bring a pretty serious injection into the BTC economy and off we go!

This article points you to some really educational material regarding money and how it works (Has worked for centuries) and what you can expect in the coming years.

http://thebitcoinmovement.com/bitcoin-peoples-bailout-currency-vs-money/

[criptix]

...
Solar panels are devices with ROI - after a certain time you will have profit, though we are talking about years.
...

I suppose if you sell electricity at the couture prices to PETA/SCRYPT bagholders you would.  Otherwise, not so much.
That's why real power companies don't run solar cells unless they're subsidized

Yeah, but i was talking about private usage.
The free generating of electricity will save you money which you would have to pay for the same else.

Why energy companies dont use it is indeed like you say. Other forms of energy are just cheaper but are also extremly more harmful to the enviroment

[Globb0]

anyway true believers are more like this:

When you're ready they will be worth millions, unfortunately a coffee will also be 1 million by then so enjoy your coffee Neo.

[ChartBuddy]

Explanation