ChartBuddy
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Activity: 2660
Merit: 2364
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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September 11, 2014, 11:59:07 AM |
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mooncake
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September 11, 2014, 12:06:55 PM |
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in terms of hash rate we're probably seeing the change over from equipment that can no longer run efficiently, but doesn't mean a new wave of new tech doesn't come on line to replace in soon enough...interesting idea to imagine a new mining company selling at loss to hurt other miners pretty risky lol ... seems like another point where speculation over getting into mining is pretty obvious.
I am still running my bitfury gear, 1 year old, and I am still earning, thanks to cheap electricity. But I think asic bubble is nearing its end, and I think there will be no more crazy difficulty jumps. miners are much more aware of potential risks these days. asic bubble deflating = price crashing I'm one of many miners not selling at a loss but did have to reduce hash rate to stay profitable. I had to lower the voltage to each ASIC on the old mining rigs, which forced reducing the hash rate but increased efficiency. Went from an efficiency of 2.5 J/GH to 1.16 J/GH. As a comparison, the newer most modern miners are 0.78 J/GH. My electricity cost is $0.13/kWh. At the current BTC value and difficulty I can only make a profit by slowing down the old miners to make them more effecient. So, I'm not mining as many coins, but still making a profit. What if the price keeps dropping to say... $400? What would be your response? |
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Hunyadi
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Activity: 1281
Merit: 1000
☑ ♟ ☐ ♚
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September 11, 2014, 12:14:31 PM |
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Small dump in Bitstam.
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NotLambchop
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September 11, 2014, 12:15:46 PM |
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...
I'm one of many miners not selling at a loss but did have to reduce hash rate to stay profitable...
When you say "profitable," do you mean to say it costs you less in electricity to mine a coin than you could get for it at the current exchange rate? If so, what do you mean by "not selling at a loss"? |
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abercrombie
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Activity: 1159
Merit: 1001
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September 11, 2014, 12:18:39 PM |
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Is crypto done??  |
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empowering
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Activity: 1092
Merit: 1442
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September 11, 2014, 12:23:13 PM |
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Beware, it's Russian one.  Is that a bit racialist?  |
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Hunyadi
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Activity: 1281
Merit: 1000
☑ ♟ ☐ ♚
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September 11, 2014, 12:23:41 PM |
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Is crypto done?? Unfortunately yes, it is complete failure, that's why we don't have any recent good news  |
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manfred
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Activity: 966
Merit: 1001
Energy is Wealth
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September 11, 2014, 12:24:55 PM |
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Is crypto done??  |
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JimboToronto
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Activity: 4494
Merit: 5813
You're never too old to think young.
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September 11, 2014, 12:43:03 PM |
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Is crypto done?? LOL |
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exocytosis
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September 11, 2014, 12:44:27 PM |
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There was a tiny dead cat bounce. Now we're heading down to sub 450.
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JimboToronto
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Activity: 4494
Merit: 5813
You're never too old to think young.
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September 11, 2014, 12:50:17 PM |
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There was a tiny dead cat bounce. Now we're heading down to sub 450.
Sell now or loose everything bagholders. Edit: Oops, I forgot to mention "final capitulation". |
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mooncake
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September 11, 2014, 12:53:34 PM |
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There was a tiny dead cat bounce. Now we're heading down to sub 450.
Sell now or loose everything bagholders. Edit: Oops, I forgot to mention "final capitulation". You are fallling! |
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JimboToronto
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Activity: 4494
Merit: 5813
You're never too old to think young.
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September 11, 2014, 12:55:27 PM |
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There was a tiny dead cat bounce. Now we're heading down to sub 450.
Sell now or loose everything bagholders. Edit: Oops, I forgot to mention "final capitulation". You are fallling! LOL. Better get your sarcasm meter checked. |
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ChartBuddy
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Activity: 2660
Merit: 2364
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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September 11, 2014, 12:59:06 PM |
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jeezy
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Activity: 1237
Merit: 1010
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September 11, 2014, 01:01:57 PM |
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Is crypto done?? Confirmed. Get out now while you still can! |
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bittown
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Activity: 64
Merit: 10
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September 11, 2014, 01:05:11 PM |
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I was ready for the choo choo but today's value is dropping again.
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Ultros
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September 11, 2014, 01:05:24 PM |
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Capistustation!
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inca
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Activity: 1176
Merit: 1000
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September 11, 2014, 01:06:55 PM |
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Capistustation!
Lol. |
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bittown
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Activity: 64
Merit: 10
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September 11, 2014, 01:07:14 PM |
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Capistustation!
I would say "frustration"  |
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molecular
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Activity: 2800
Merit: 1023
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September 11, 2014, 01:09:11 PM |
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I'm quite amazed where these huge sellers get their coins from.
Remember those 850.000 bitcoins "lost" on the MtGox? Somebody has the private keys of those BTC. Ask yourself what would you do if that was you. Would you hold all of them, or would you convert some to the fiat? I would be wary of exchanges. If you look at Stamp, for over a month, you see huge sell walls placed at intervals. And to withdraw that much of fiat, the exchange would require your identity and bank account. So, the key person to know why the huge btc quantity of sell limit order is the exchange owner. Many people are speculating why the market has been so bearish. If the bitcoin news websites are smart, they would bug the exchange owners for answers. Think about it, all we can see are just the orders and transactions. The exchange owners are able to see who are placing these orders and making these huge transactions. The exchange owners are in the perfect position to make such manipulations. They have their own funds, and I think nothing stop them from doing such things. I would not be surprised if they are behind the recent moves. They don't even need real funds for that. |
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