[4+ EH] Slush Pool (slushpool.com); Overt AsicBoost; World First Mining Pool

[kkurtmann]

almost half the hashpower of BTCguild and one more block than them for the day. seems pretty lucky here today

[cris12821]

Wow.     Another $50 down in btc price over night.  It should stop making us suffer and drop to 300 and stay there it something.  Yup we me have to deal with a low btc/$ for a long time now

[Jcga]

End of the Game, it seems like it.

There are btc big farms dropping huge amount of btc and only few people buy, so price go down.

[cris12821]

So it seems like.  These very greedy farms.   Like 1-5 big farms that are greedy are ruining it for EVERYONE else.    Unless the price goes back up within a month or 2.   It starting to feel like its the end.

[MykelSilver]

As long as the price keeps above one Satoshi I keep mining.

[Jcga]

As long as the price keeps above 1 Satoshi I'll mining.

Betta buy Btc^^

[cris12821]

As long as the price keeps above 1 Satoshi I'll mining.

Betta buy Btc^^

I agree to.   There's always going to be profit just may not be as good as youbthink.


The way insee it is, the more warehouse farms that cone online the more the price dropss, the more it drops (in my opinion) the more the warehouse farms become a waste.

U may have like5ph/s farns and all.  But what's treuly the point of insane speeds when the price is dead low.

Its a damn good think were onnslushs pool.   Were awesome.

[MykelSilver]

As long as the price keeps above 1 Satoshi I'll mining.

Betta buy Btc^^

Of course. Below a certain price level I start also buying. No doubt.

[markneill]

The way I see it, I am buying cheap bitcoins from my electric company.

Glad to see I'm not the only one mining for that same reason.

[TradersWay.JC]

$400 now 

Will keep mining until the very end! Maybe even buy some if it gets very low.... The most we can lose is what we invest but there is unlimited potential for reward 

[cris12821]

$400 now 

Will keep mining until the very end! Maybe even buy some if it gets very low.... The most we can lose is what we invest but there is unlimited potential for reward 

Lol CAD $ more .  But barely.     Yes there a great amount of potential.     Me personally,  I believe btc can still reach the 1000s     you can't predict the stock market prices,  thus u can't predict the btc prices,  most we can do,  is estimate what it will be at and for how long.

I think though if it is at this price right now so low,   I don't see it going back up big anytime soon.. Atkeast for a month or so.


Oh well. We will see how it goes until the end up sept.  I'm afraid to buy btc in case u buy now and it never goes back up( though im almost certain that it will...inbtine)


Good luck everybody.

[Hitmouse]

Years ago I started when bitcoins were just a joke to everyone. I made thousands of them with GPU's. I didn't know what to do with them at the time. The price went up and then dropped. I lost faith and turned off my rigs except one miner that I had forgot about. 4 months later it was shut down.  Forward 2+ years later, a coworker is telling me about bitcoins and how expensive they are. I did some goggling and found I was rather wealthy if my old wallet was still there. I booted my old computer that had the wallet on it and prayed for good luck. (never keep a wallet online) Keep in mind this system had been off for 2 years. After a day and 1/2 of updating the wallet the final number came in.

I have found that it has paid for more then a few things I have needed to get done around the house. My children look pretty good in their new clothes and college paid for. I don't pay for groceries out of my paycheck it is paid for by bitcoins...

All of these coins mined while it was NOT a good investment in electricity, hardware and time. Those early years I LOST many dollars to the electric company.

The end of bitcoin mining? HAHA, this is only the doorway to bigger things. If you are smart you will buy bitcoins anyway you can. Ride it down and buy it when it starts to go up. The fat pigs are doing you a favor with their panic selling.

[Billbags]

Looks like BTC price dropped further due to China shocking the market by announcing that the PBoC will make available a Short-term Lending Facility of 500bil Yuan to the nation’s top banks. Stocks and currencies adjusted to the “stealth QE” measure with strong rallies. This almost immediately brought the S&P up and lowered BTC and Gold prices down.

The BTC price along with gold had alread dropped at a low due to the Fed’s five-year QE program(printing money/unjustly lowering interest rates to raise Stocks and Dollar value), markets resumed their usual direction after the FOMC statement. A mediocre Fed statement saw the Bitcoin price drop and produced the start of the week low and then stall until the China situation brought it lower.

UK is staying quiet about any serious monetary adjustments, it seems like unemployment is down there so their outlook isn't bad at the moment although that could change at any minute.

EDIT: You know we can do these same things with Bitcoin. No one has yet, not to the extreme it could be. It's just game theory. I read a paper the other day that showed a strategy using $250 million USD worth of BTC and there could actually be a shift in financial power overnight once the strategic move was made. After that move would be made the price of one bitcoin was unbelievable. I'll try to find it and put a link to it here.

Update: Funny thing was that paper was in the same format as the original Bitcoin White paper and was signed SN. I don't think Satoshi wrote it, but its inspired by his work.

I found it: http://bitcoinunion.wordpress.com/2014/08/24/bitcoin-swift-and-the-brics/

[jterry211]

Never lose faith, never surrender Mining till the end.  Just time to put more of my mining budget into Scrypt.   

JT

[Hitmouse]

Typically gold and bitcoins are not tied together.

http://bitcoincharts.com/charts/bitstampUSD#tgSzm1g10zm2g25zv

http://www.kitco.com/charts/historicalgold.html

I think it could be problematic to try to tie the gold and bitcoins together. Keep in mind the drop in bitcoin prices happened far before the PBoC announcement. News reports are tying to relate basic economic fundamentals to bitcoin pricing that just don't apply yet due to the nature of bitcoins. Although there is some impact it is not yet encompassing the full effects of the bitcoin phenomenon. Simple profit taking that has spiraled due to computerized trading and the lack of easy currency conversion options for the average Joe are more likely the answers to the current demise of the value of bitcoins.

I believe that when there is an easy, quick, main stream and highly accessible way to purchace bitcoins without a high conversion cost then the average Joe will start actively using bitcoins far beyond what we think is possible. Whoever makes it main stream for the public will win the battle and become ground zero for the bitcoin boom. Currently I have not found any site that does not have some frustration, anxiety or high cost involved in it.

SLUSH ROCKS! Thanks for the great pool!

[Billbags]

^ I agree, but as a result of the Fed's 5 year QE statment to raise stocks and the dollar, both BTC and gold dropped. I normally don't put them together, they just both got affected by the same thing.

Note: You have to remember we are buying and spending BTC in a global marketplace/economy. BTC gets affected by external factors in some of the same ways as other currencies. We are decentralized but still a currency.

Slush Does Rock!!! Bob, it's time to start the dance!!!!!!

[Jcga]

Onlu one block today (6.5hours to go) but still i'm not used to that

[desired_username]

Onlu one block today (6.5hours to go) but still i'm not used to that

This is called variance. We had some nice luck before the 12 hour block.

[Jcga]

Onlu one block today (6.5hours to go) but still i'm not used to that

This is called variance. We had some nice luck before the 12 hour block.

Yes for sure, reeeally good, go go Slush, the french pool

[Jcga]

@Jcga

You need to find Slush over where you are at in France and tell him to get us some blocks solving. Tell him 10 Blocks a day and we will all by 2 Trezor's from his store.

Yes they are my next door neighbors,
cool guyz, they gave me a Trezor Safe wallet and i can fill it with fresh btcs at their Pool, Slush i bet guys never heard about it which is fine lol

Billbags, I did not know there was a relation between Trezor and Slush's pool?
Those 2 cool guys on the video don't sound like they are from France at all.

http://vimeo.com/66263948