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

[Hunyadi]

So what are we going to see after ASIC era?

http://gizmodo.com/mining-bitcoin-with-pencil-and-paper-1640353309

[Searing]

Could someone explain me in 3-4 lines what the hell has happened in the last 17  days? Some major news or just 'normal' price fluctuation?

No news. The best explanation I've heard is too many people have invested in unprofitable mining gear, so they are selling all their new coins to cover loan costs, which is a vicious cycle. That has been building for a while, but it's feeding back on itself now, which will hopefully stop people buying so much mining gear. Once the difficulty stops going up so fast I think it might take the pressure off, but we have to wait for idiots with poor maths skills to catch on before that happens.

There are other people (noobs) claiming it's early adopters cashing out, but there's no sign of that in the bitcoin days destroyed.

hey i resemble that remark! (good mining choice knc jupiter 2013 50 coin..bad mining choice no roi titan scrypt this year)

now www.coinbase.com is my 'miner' (until the wheels go off the titan anyway no refund)

live and learn

[mmitech]

It's happening. Negative difficulty:



Go grab some money: http://bitbet.us/bet/1040/bitcoin-difficulty-to-fall-before-november/

Can someone explain to me what negative difficulty means, is it good or bad?(total noob here)

it only means it is decreasing instead of increasing, this means that older mining machines are going offline for not being profitable anymore, this is not bad, this is the end of the ASIC era.

There is nothing to replace ASIC. Old asic are replaced by new ones, but asic is still in the game.

the end of the ASIC era means that the race of buying the new ASICs in order to be the first to profit has came to an end...we always discussed that there will be an end to this race when Moree's law is actual, the first ASIC was an avalon 90nm and AM 120nm the second was a BFL 65nm at the time the 28nm technology was available in market but not as a Bitcoin ASIC, so naturally people raced to build an ASIC as efficient as possible, but Moree's law suggest that when we hit the 22nm (the available technology today) the network will stabilize because there will be no technology improvement for some time (2 years) unless the price sky rocket so people bring more hashing power but the same technology online.

[mmitech]

It's happening. Negative difficulty:



Go grab some money: http://bitbet.us/bet/1040/bitcoin-difficulty-to-fall-before-november/

Can someone explain to me what negative difficulty means, is it good or bad?(total noob here)

it only means it is decreasing instead of increasing, this means that older mining machines are going offline for not being profitable anymore, this is not bad, this is the end of the ASIC era.

It could also be related by the feds disconnecting the Butterfly labs mining rigs.

yes, I forgot about that possibility.

[Searing]

It's happening. Negative difficulty:



Go grab some money: http://bitbet.us/bet/1040/bitcoin-difficulty-to-fall-before-november/

Can someone explain to me what negative difficulty means, is it good or bad?(total noob here)

it only means it is decreasing instead of increasing, this means that older mining machines are going offline for not being profitable anymore, this is not bad, this is the end of the ASIC era.

There is nothing to replace ASIC. Old asic are replaced by new ones, but asic is still in the game.

the end of the ASIC era means that the race of buying the new ASICs in order to be the first to profit has came to an end...we always discussed that there will be an end to this race when Moree's law is actual, the first ASIC was an avalon 90nm and AM 120nm the second was a BFL 65nm at the time the 28nm technology was available in market but not as a Bitcoin ASIC, so naturally people raced to build an ASIC as efficient as possible, but Moree's law suggest that when we hit the 22nm (the available technology today) the network will stabilize because there will be no technology improvement for some time (2 years) unless the price sky rocket so people bring more hashing power but the same technology online.

let the cloud hashing in large data farms now commence....let the fleecing begin!  the top is being wound up for the next spiral up as we speak imho

[Hunyadi]

the end of the ASIC era means that the race of buying the new ASICs in order to be the first to profit has came to an end...we always discussed that there will be an end to this race when Moree's law is actual, the first ASIC was an avalon 90nm and AM 120nm the second was a BFL 65nm at the time the 28nm technology was available in market but not as a Bitcoin ASIC, so naturally people raced to build an ASIC as efficient as possible, but Moree's law suggest that when we hit the 22nm (the available technology today) the network will stabilize because there will be no technology improvement for some time (2 years) unless the price sky rocket so people bring more hashing power but the same technology online.

Good explanation. Lots of money was going to mining gear. Perhaps, now those funds will go directly to bitcoin.

[madmat]

It's happening. Negative difficulty:



Go grab some money: http://bitbet.us/bet/1040/bitcoin-difficulty-to-fall-before-november/

Can someone explain to me what negative difficulty means, is it good or bad?(total noob here)

it only means it is decreasing instead of increasing, this means that older mining machines are going offline for not being profitable anymore, this is not bad, this is the end of the ASIC era.

There is nothing to replace ASIC. Old asic are replaced by new ones, but asic is still in the game.

the end of the ASIC era means that the race of buying the new ASICs in order to be the first to profit has came to an end...we always discussed that there will be an end to this race when Moree's law is actual, the first ASIC was an avalon 90nm and AM 120nm the second was a BFL 65nm at the time the 28nm technology was available in market but not as a Bitcoin ASIC, so naturally people raced to build an ASIC as efficient as possible, but Moree's law suggest that when we hit the 22nm (the available technology today) the network will stabilize because there will be no technology improvement for some time (2 years) unless the price sky rocket so people bring more hashing power but the same technology online.

Thanks for this detailed answer. I think you are right. Big steps are over, and only little ones are to be expected.

[Totscha]

It's happening. Negative difficulty:



Go grab some money: http://bitbet.us/bet/1040/bitcoin-difficulty-to-fall-before-november/

Can someone explain to me what negative difficulty means, is it good or bad?(total noob here)

it only means it is decreasing instead of increasing, this means that older mining machines are going offline for not being profitable anymore, this is not bad, this is the end of the ASIC era.

It could also be related by the feds disconnecting the Butterfly labs mining rigs.

That's actually very likely. Together with some old unprofitable farms being shut down...

I don't understand how people call this the end of the ASIC era??? It's just a sign that the crazy diff growth is slowing down... No wonder the price jumps like a rabbit on speed if people panic about totally normal events like this

[ChartBuddy]

Explanation

[hdbuck]

It's happening. Negative difficulty:



Go grab some money: http://bitbet.us/bet/1040/bitcoin-difficulty-to-fall-before-november/

Can someone explain to me what negative difficulty means, is it good or bad?(total noob here)

it only means it is decreasing instead of increasing, this means that older mining machines are going offline for not being profitable anymore, this is not bad, this is the end of the ASIC era.

There is nothing to replace ASIC. Old asic are replaced by new ones, but asic is still in the game.

the end of the ASIC era means that the race of buying the new ASICs in order to be the first to profit has came to an end...we always discussed that there will be an end to this race when Moree's law is actual, the first ASIC was an avalon 90nm and AM 120nm the second was a BFL 65nm at the time the 28nm technology was available in market but not as a Bitcoin ASIC, so naturally people raced to build an ASIC as efficient as possible, but Moree's law suggest that when we hit the 22nm (the available technology today) the network will stabilize because there will be no technology improvement for some time (2 years) unless the price sky rocket so people bring more hashing power but the same technology online.

let the cloud hashing in large data farms now commence....let the fleecing begin!  the top is being wound up for the next spiral up as we speak imho

yup, large mining farms corporatives will take on. welcome in the Exahash Era

[Pala_00]

[mmitech]

I don't get why you keep posting the same pictures ?

[pandacoin]

So what are we going to see after ASIC era?

http://gizmodo.com/mining-bitcoin-with-pencil-and-paper-1640353309

I don't think it's the new era. It's the oldest era.

[empowering]

So what are we going to see after ASIC era?

BSIC?

As in I looked at the Bitcoin price today and I wanted to Be SICk

I think it might be all of the C UNiTS.

[Hunyadi]

I don't get why you keep posting the same pictures ?

+1

[empowering]

I don't get why you keep posting the same pictures ?

The poor chap probably has a learning disability.   Alzheimer's

[Blue]

I don't get why you keep posting the same pictures ?

well just read the 2nd line under the pic

[mmitech]

I don't get why you keep posting the same pictures ?

well just read the 2nd line under the pic

supposedly I really know how to read it.

[empowering]

I don't get why you keep posting the same pictures ?

well just read the 2nd line under the pic

Does it say be a good communist blah blah blah blah ?

[Totscha]

I don't get why you keep posting the same pictures ?

well just read the 2nd line under the pic

supposedly I really know how to read it.

+1

A ni hecno, ko folk misli, da ga boš kar razumel, če v svojem jeziku pišeš...