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

[JorgeStolfi]

Lot of miners have bought their equipment using btc, so they want to earn btc not usd. Also, lot of miners don't sell everything they make, at this price, you have to be quite desperate to sell the coins.

Miners want to make a profit.  If a miner bought their equipment for 1000 BTC in January, mined 1200 BTC with it, and paid 100'000 dollars of electricity, he invested 900'000$ and got back less than 600'000$, so he lost money.    Even if he loves BTC, he would be better off today if he had kept their 900'000$ in the bank; he could buy more than 1800 BTC with it now.  

Miners decide whether to keep, buy, or sell BTC just like any investor or trader.  If there are people selling for 460$ now, why wouldn't they sell too?


EDIT: they --> he

[mooncake]

16K BTC to $600 VS 17.5K to $100 @ Bitstamp... really comforting.

Someone ask the exchange who the 16K BTC belongs to please. I really want to know.

[wachtwoord]

16K BTC to $600 VS 17.5K to $100 @ Bitstamp... really comforting.

Crazy stuff. This doesn't exactly seems like a healthy market. Where are all the sells coming from?

At any rate, these phases are necessary to further distribute the Bitcoins over the world (cause that is what this is).

[NotLambchop]

...
Lot of miners have bought their equipment using btc, so they want to earn btc not usd. Also, lot of miners don't sell everything they make, at this price, you have to be quite desperate to sell the coins.

The miners need to unionize!

Miners, unite!
You have nothing to lose but your chains!
You are the Bitcoin proletariat, your struggle is the class struggle!
If more than 51% of you unionize, you won't have to plead, you could DEMAND more $ per BTC, or else fork the fat, greedy oppressor!
The so-called "early adopters" will HAVE TO mortgage their fancy wives and houses to to protect their ill-gotten Bitcoin spoils.
The price will skyrocket, everyone will eat peaches and cream!
Fight the power!

UNION POOL NOW!

[Brewins]

16K BTC to $600 VS 17.5K to $100 @ Bitstamp... really comforting.

Crazy stuff.

mr102 feelings

[mmitech]

16K BTC to $600 VS 17.5K to $100 @ Bitstamp... really comforting.

Crazy stuff. This doesn't exactly seems like a healthy market. Where are all the sells coming from?

At any rate, these phases are necessary to further distribute the Bitcoins over the world (cause that is what this is).

24K BTC to $100 and 9K BTC to $600 @ Bitfinex.... I am ignoring the fact that usually when the price move a bit up, more Asks build near the target price..... conclusion: the tension in the crypto market is not healthy at all, it gives me the impression of a coming/near collapse !!

[spooderman]

https://www.youtube.com/watch?v=sqnG6x-YOpM&feature=youtu.be

in case you're wondering why you became interested in BTC in the first place.

Hopefully if you're just here to make money you'll be out of the door soon.

[mmitech]

16K BTC to $600 VS 17.5K to $100 @ Bitstamp... really comforting.

Crazy stuff. This doesn't exactly seems like a healthy market. Where are all the sells coming from?

At any rate, these phases are necessary to further distribute the Bitcoins over the world (cause that is what this is).

24K BTC to $100 and 9K BTC to $600 @ Bitfinex.... I am ignoring the fact that usually when the price move a bit up, more Asks build near the target price..... conclusion: the tension in the crypto market is not healthy at all, it gives me the impression of a coming/near collapse !!

Collapse? You must be joking lol. It will not significantly (not that word!) collapse.

a "crash" from $460 to $150 is considered a collapse IMO, which is very possible looking to this thin book order.

[Hunyadi]

Lot of miners have bought their equipment using btc, so they want to earn btc not usd. Also, lot of miners don't sell everything they make, at this price, you have to be quite desperate to sell the coins.

Miners want to make a profit.  If a miner bought their equipment for 1000 BTC in January, mined 1200 BTC with it, and paid 100'000 dollars of electricity, he invested 900'000$ and got back less than 600'000$, so he lost money.    Even if he loves BTC, he would be better off today if he had kept their 900'000$ in the bank; he could buy more than 1800 BTC with it now.  

Miners decide whether to keep, buy, or sell BTC just like any investor or trader.  If there are people selling for 460$ now, why wouldn't they sell too?


EDIT: they --> he

If he already had 1000 BTC (which he didn't plan to sell), he would have broke even, and has the mining equipment. May be I didn't get your point. Of course it made sense to sell when BTC was 1000 USD and buy back cheaper.

Btw: Nowadays, most of the miners won't mine as much as they paid.

[razorramon]

just a quick thought:

it could also be possible that the manipulator is a large mining company that wants to push the price as far down as possible so that other miners get out of business and they get a bigger cut out of the cake

[btcney]

might have to get a real job now, thanks bitcoin

[Hunyadi]

just a quick thought:

it could also be possible that the manipulator is a large mining company that wants to push the price as far down as possible so that other miners get out of business and they get a bigger cut out of the cake

It very well could be. How ever, that's quite risky operation to do.

[howareyo]

I see $45x but it can't be, wasn't bitcoin supposed to be over 9000?

[mooncake]

just a quick thought:

it could also be possible that the manipulator is a large mining company that wants to push the price as far down as possible so that other miners get out of business and they get a bigger cut out of the cake

Who is the manipulator? Coindesk please ask the exchange.

[hyphymikey]

16K BTC to $600 VS 17.5K to $100 @ Bitstamp... really comforting.

Crazy stuff. This doesn't exactly seems like a healthy market. Where are all the sells coming from?

At any rate, these phases are necessary to further distribute the Bitcoins over the world (cause that is what this is).

24K BTC to $100 and 9K BTC to $600 @ Bitfinex.... I am ignoring the fact that usually when the price move a bit up, more Asks build near the target price..... conclusion: the tension in the crypto market is not healthy at all, it gives me the impression of a coming/near collapse !!

Collapse? You must be joking lol. It will not significantly (not that word!) collapse.

a "crash" from $460 to $150 is considered a collapse IMO, which is very possible looking to this thin book order.

I would sell my house, my car, and all my toys and buy the shit out of bitcoin if we go below 200.

[NotLambchop]

just a quick thought:

it could also be possible that the manipulator is a large mining company that wants to push the price as far down as possible so that other miners get out of business and they get a bigger cut out of the cake

Who is the manipulator? Coindesk please ask the exchange.

[inca]

16K BTC to $600 VS 17.5K to $100 @ Bitstamp... really comforting.

Crazy stuff. This doesn't exactly seems like a healthy market. Where are all the sells coming from?

At any rate, these phases are necessary to further distribute the Bitcoins over the world (cause that is what this is).

24K BTC to $100 and 9K BTC to $600 @ Bitfinex.... I am ignoring the fact that usually when the price move a bit up, more Asks build near the target price..... conclusion: the tension in the crypto market is not healthy at all, it gives me the impression of a coming/near collapse !!

Collapse? You must be joking lol. It will not significantly (not that word!) collapse.

a "crash" from $460 to $150 is considered a collapse IMO, which is very possible looking to this thin book order.

I would sell my house, my car, and all my toys and buy the shit out of bitcoin if we go below 200.

Then we likely won't drop anywhere near that far. Noone is even sure why the price continues to slide. Bitcoin looking cheap again that's for sure.

[macsga]

just a quick thought:

it could also be possible that the manipulator is a large mining company that wants to push the price as far down as possible so that other miners get out of business and they get a bigger cut out of the cake

+1

Maybe it is so; at least it makes sense. The fattest wallet wins (as always), but wouldn't that be "the next paradigm" for the next big fat wallet/mining company?

[Cassandra_PR]

...
I would sell my house, my car, and all my toys and buy the shit out of bitcoin if we go below 200.

...
The so-called "early adopters" will HAVE TO mortgage their fancy wives and houses to to protect their ill-gotten Bitcoin spoils.
...
UNION POOL NOW!

[mrkavasaki]

ohh shit!!! better to sell now?