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

[ChartBuddy]

Explanation

[David M]

Second largest addition of hashing power in a day.

https://blockchain.info/charts/hash-rate?timespan=180days&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=

[Davyd05]

where does it stop you think? the hash rate that is

[David M]

Holy hash power, batman!

It's staggering isn't?  Nearly 300 million billion hashes per second.

I remember firing up the Satoshi client and being stoked with 500,000 hashes per second.

[adamstgBit]

where does it stop you think?

not for a LONG time, the mining tech is improving cost pre TH is coming down.... and so it hash rate goes up.

if we could get out of this damn down trend, then we'd be sure hash rate will continue to go up Up UP!!!!!!!

[adamstgBit]

Holy hash power, batman!

It's staggering isn't?  Nearly 300 million billion hashes per second.

I remember firing up the Satoshi client and being stoked with 500,000 hashes per second.

MH GH TH

what will they think of next? 

[derpinheimer]

Holy hash power, batman!

It's staggering isn't?  Nearly 300 million billion hashes per second.

I remember firing up the Satoshi client and being stoked with 500,000 hashes per second.

MH GH TH

what will they think of next? 

Isnt it Petahash?

[Davyd05]

where does it stop you think?

not for a LONG time, the mining tech is improving cost pre TH is coming down.... and so it hash rate goes up.

if we could get out of this damn down trend, then we'd be sure hash rate will continue to go up Up UP!!!!!!!

I meant in the sense where would this recent spike in has rate peak, 219 to 289k gh/s is pretty impressive..wonder if its a new farm coming online or testing of new mining gear pre shipment.

[WoopDeBoop]

china has broken 2800

They still way above bitstamp and btc-e

Bitfinex scratching 24h low.

Is Crypto done??  

Depends how you define "crypto."  Some protocols are doing fine. 

Really? Last year i sold 200k XRP for nearly 10 btc.

How many btc do I get for 200k XRP today? lol

[explorer]

Holy hash power, batman!

It's staggering isn't?  Nearly 300 million billion hashes per second.

I remember firing up the Satoshi client and being stoked with 500,000 hashes per second.

MH GH TH

what will they think of next? 

Isnt it Petahash?

Not for long 

Just saw this again, from one year ago:

http://blog.standardcrypto.com/2013/09/17/what-does-one-exahash-look-like/

[zimmah]

Holy hash power, batman!

It's staggering isn't?  Nearly 300 million billion hashes per second.

I remember firing up the Satoshi client and being stoked with 500,000 hashes per second.

MH GH TH

what will they think of next? 

Isnt it Petahash?

Not for long 

Just saw this again, from one year ago:

http://blog.standardcrypto.com/2013/09/17/what-does-one-exahash-look-like/

cool story, except chips are getting smaller and more efficient each few months or so.

That's why a miner that is delivered even a month or three late is worthless on arrival. It will immediately be outclassed by more energy-efficient miners.

It's not a race who has the most hashes, it's a race who has the best Hash/Joule ratio (and also cheap energy, because in europe you're screwed anyway, *cough taxes cough*).

[JayJuanGee]

ah fuck this

* cutting looses *

rats bailing ship!!!! 

 

if we see $150 again i'll buy a bunch "out of pocket" ;-) haha

I bought some today at $445.  I have been running low on fiat for the last couple of months now, because I believe that I got a bit too excited in early June when the weekly MACD turned Green around $600-ish, and at that time, it seemed to me that BTC prices were gearing up to head for the moon... ... so I prepared accordingly, and stocked up on what I considered to be a pretty good chunk of BTC.

At that point, I made an executive decision to approximately double my BTC holdings....

Anyhow over the next several weeks (going on two months worth of spreading out my big buys) I bought quite a few BTC - let's just say that I bought more than 50 BTC in the upper $500s to lower $600s price range; however, you all likely realize that there can be some regret (and second guessing) there b/c upon reflection, I see that I could have purchased 15 to 20BTC more with the same quantity of dollars, had I known that the price was going down into this mid-$400s range, rather than going up (as I had anticipated).. and my average price per BTC would have been a lot lower - probably in the upper $400s rather than currently hovering at $602 (including transaction fees)...

 Sometimes, I believe that it is easy to get hyped up about this BTC investment thing-a-ma-jiggy, and even though I am NOT too worried yet, I continue to feel the need to throw more dollars at what appears to be this downward trending asset.. as my new fiat come to my availability...

Currently, I am thinking that maybe my next buying point will be in the upper $420s (if prices go that low in the coming weeks) - otherwise, I will just buy BTC at whatever price point we are at (so long as I am continuing to bring down my average price per BTC) as more fiat comes available to me.

Further I have been considering taking some fiat from some of my other funds - either late 2014 or early 2015... to possibly double down again... but with these declining prices, it becomes easy to get nervous about whether I am going to overexpose myself in the BTC category.. currently, BTC remains less than 10% of my quasi-liquid investment assets.. but it still feels a little uncomfortable when currently my BTC holdings are hovering approximately 26% in the red  (I realize that there are some people who are further in the red than me and also more over exposed than me).

[JayJuanGee]

china has broken 2800

They still way above bitstamp and btc-e

Bitfinex scratching 24h low.

Is Crypto done??  

Depends how you define "crypto."  Some protocols are doing fine. 

Really? Last year i sold 200k XRP for nearly 10 btc.

How many btc do I get for 200k XRP today? lol

I have already proven myself to NOT be a math expert; however, at today's prices 1 BTC equals about 84,286 XRP... therefore 200k XRP would get you about 2.373 BTC  - which is nearly 24% of its last year's value (some alt cryptos have done even worse than that).

[Loaded]

Anyone knows loaded's stance on bitcoin these days?

I know he had a shit load of coins, probably around 80k

Must feel pretty shitty to lose all that money when price is going down lol. unless he sold

He bought the majority of his coins WELL below these prices.

40K of them are still in one address, that I think he still owns, unless he sold them all at once 11 months ago before the bubble.

https://blockchain.info/address/14j6jLececs66ZQ8ew6vTFNiEn2NupacWJ

He only verified his ownership of the 40k in that address and if they're still in the same address then he must still own them. He was also managing another 160k for other people. Would be interesting to hear from him again

He disappeared since mtgox's collapse, which "ruined his weekend". He did log-in once in June but said nothing. Actually, I suspect he's among us, posting with a different name.

Anyway, I'd be nice to here from him again. Not for any investment advice, just want to know he's okay after the mtgox mess

Hello.

[ChartBuddy]

Explanation

[Bitcopia]

Second largest addition of hashing power in a day.

https://blockchain.info/charts/hash-rate?timespan=180days&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=

The hash rate blows my mind at 275,000,000 GH/s. Litecoin's hash rate is at just under 1,000,000 MH/s equaling roughly 1/275,000 of the bitcoin hash rate. Why is the price discrepancy not greater? Wouldn't it be more profitable to mine LTC and trade it for bitcoin? What am I missing here?

[derpinheimer]

BFX, HUOBI, BITSTAMP bids/asks to arbitrary levels - combined

Bids to $400: 10m USD - 24k BTC (>50% from BFX)
Asks to $520: 10m USD - 22k BTC

Bids to $300: 14m USD - 37k BTC (>50% from BFX)
Asks to $620: 19m USD - 37k BTC



Not sure how to get a full orderbook for BTC-E or OKcoin, and I dont think there are any other exchanges worthy of a mention.

Pretty even fight for now though.

[jl2012]

Second largest addition of hashing power in a day.

https://blockchain.info/charts/hash-rate?timespan=180days&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=

The hash rate blows my mind at 275,000,000 GH/s. Litecoin's hash rate is at just under 1,000,000 MH/s equaling roughly 1/275,000 of the bitcoin hash rate. Why is the price discrepancy not greater? Wouldn't it be more profitable to mine LTC and trade it for bitcoin? What am I missing here?

Comparing the hashrate of SHA256 and Scrypt is pointless. You need to compare the cost of generating the hashrate.

[vuduchyld]

JJG, maybe if you do a thought exercise in some extremes, it would help clarify.

If your potential double down comes in January 2015, you definitely have some time to think about it.  What will you think if BTC is $260 at that time?  You'll be farther underwater.  Will you think, cool, this is a REAL chance to bring my cost average WAY down?  Or will you be even more apprehensive to be that far underwater?

What if BTC is at $660 at that point?  You'll be up by that time, probably more than 10%.  Will you think that the price is high enough that you won't want to up the ante?  Or be emboldened by the fact that you were right, but the timing was just a shade off?

We've chatted about this a tiny bit via PM and as I recall you're close to my age.  I do think age plays some factor in how aggressive you'd want to be.  As I've dabbled in alts, especially, I'm reminded frequently how few safeguards there are in this market.  There is exchange risk, with Mt. Gox being the obvious example, but not the only one.  There is the risk of a hack or a code failure.  There is even some user risk involved.  

For me, if I'm right about where I think bitcoin is going, being right with 10% of my portfolio will make enough of a difference for me that I'll consider it a huge win.  I'm still well under that number and looking to find good entry points.  (I bought some today, as well!)  Hard to imagine that I'd go much over 10% without new information that dramatically impacts other USD investments.  I'm still invested in the stock market and those investments are doing very well, so there is no real urgency to press this one--especially given the systematic risks.

Of course, YMMV.  If we're no longer in a big downtrend, you might look to double up for a limited period of time to make up some ground, then drop back to 10%.  Or there may be new fundamental news about adoption that affects your view of BTC or maybe rising interest rates that may hurt your stock portfolio...or maybe the dollar starts a significant slide that makes you want to be more in BTC.

I think you'd want to avoid pushing towards BTC just for the sake of making up for any current loss.  That's dangerous, imo.

[Loaded]

Anyone knows loaded's stance on bitcoin these days?

I know he had a shit load of coins, probably around 80k

Must feel pretty shitty to lose all that money when price is going down lol. unless he sold

He bought the majority of his coins WELL below these prices.

40K of them are still in one address, that I think he still owns, unless he sold them all at once 11 months ago before the bubble.

https://blockchain.info/address/14j6jLececs66ZQ8ew6vTFNiEn2NupacWJ

He only verified his ownership of the 40k in that address and if they're still in the same address then he must still own them. He was also managing another 160k for other people. Would be interesting to hear from him again

He disappeared since mtgox's collapse, which "ruined his weekend". He did log-in once in June but said nothing. Actually, I suspect he's among us, posting with a different name.

Anyway, I'd be nice to here from him again. Not for any investment advice, just want to know he's okay after the mtgox mess

Hello.

'ello 'ello

How's the "briefcases stuffed with cash" lifestyle treating you?

Not well. Too much whisky.