Bitcoin Forum
December 06, 2016, 02:38:04 AM *
News: To be able to use the next phase of the beta forum software, please ensure that your email address is correct/functional.
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: Hold on to your seats.  (Read 3061 times)
Elwar
Legendary
*
Offline Offline

Activity: 1932


www.bitpools.com


View Profile WWW
July 18, 2011, 06:02:59 PM
 #1

The market is about to skyrocket tomorrow.

The mining difficulty is about to go up tomorrow, July 19th. Which means less bitcoins being created by miners and less supply which means a huge upturn.

Plus, most people can not get their Dwolla money processed until around 6PM EST after the weekend so they are all sitting there wishing that Dwolla would get them their money already so they could buy in this downswing.

I did the same thing last Monday waiting until just before close of business for Dwolla before my funds were available.

Wish I had bought this Monday instead of last, right before the rise in difficulty.

http://www.bitpools.com
Pool your bitcoins with others. Vote on solutions using the Bitcoin blockchain. Keep your bitcoins in your cold storage until you find a solution you like.
Links and Reviews of useful every day places to spend bitcoins: https://bitcointalk.org/index.php?topic=943143.0
1480991884
Hero Member
*
Offline Offline

Posts: 1480991884

View Profile Personal Message (Offline)

Ignore
1480991884
Reply with quote  #2

1480991884
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
SlipperySlope
Hero Member
*****
Offline Offline

Activity: 686

Stephen Reed


View Profile
July 18, 2011, 07:21:35 PM
 #2

It is very likely that the downdraft from 14 to 12.5 and below will rebound - but probably not back up to 14, as the bitcoin valuation bubble deflates.  Recall that back in April, one could buy a bitcoin for a dollar.
Oldminer
Legendary
*
Offline Offline

Activity: 1022



View Profile
July 18, 2011, 07:25:04 PM
 #3

Yea European transfers will be coming back online and $$ from Dwolla accounts will be coming back in so I'm predicting a reversal...but thats still some hours away..

If you like my post please feel free to give me some positive rep https://bitcointalk.org/index.php?action=trust;u=18639
Tip me BTC: 1FBmoYijXVizfYk25CpiN8Eds9J6YiRDaX
CurbsideProphet
Hero Member
*****
Offline Offline

Activity: 672


View Profile
July 18, 2011, 07:36:10 PM
 #4

The market is about to skyrocket tomorrow.

The mining difficulty is about to go up tomorrow, July 19th. Which means less bitcoins being created by miners and less supply which means a huge upturn.

Plus, most people can not get their Dwolla money processed until around 6PM EST after the weekend so they are all sitting there wishing that Dwolla would get them their money already so they could buy in this downswing.

I did the same thing last Monday waiting until just before close of business for Dwolla before my funds were available.

Wish I had bought this Monday instead of last, right before the rise in difficulty.

And 17 was a floor.... No 16... No wait 15.... No 14, really.... Okay strong support at 13. 

But Bitcoins always drop on weekends.  Except its Monday, and we're at $12.5.....

We may see a short sucker rally but the writing is all over the wall. 

1ProphetnvP8ju2SxxRvVvyzCtTXDgLPJV
wndrbr3d
Sr. Member
****
Offline Offline

Activity: 295


View Profile
July 18, 2011, 07:38:19 PM
 #5

Correct me if I'm wrong, but difficulty increases are used to stabilize the number of blocks generated per-day. So the rate of bitcoins being generated remains pretty consistent with each difficulty increase.

Until we see block payments being halved, I think block generation will maintain pace.
whitemist
Newbie
*
Offline Offline

Activity: 15


View Profile WWW
July 18, 2011, 09:16:34 PM
 #6

This is not the end of bitcoin... it comes and goes in waves
GeniuSxBoY
Hero Member
*****
Offline Offline

Activity: 546



View Profile
July 18, 2011, 09:21:41 PM
 #7

This is not the end of bitcoin... it comes and goes in waves


Like it's waving goodbye to us  Shocked
pennytrader
Sr. Member
****
Offline Offline

Activity: 253


View Profile
July 18, 2011, 09:49:28 PM
 #8

Correct me if I'm wrong, but difficulty increases are used to stabilize the number of blocks generated per-day. So the rate of bitcoins being generated remains pretty consistent with each difficulty increase.

Until we see block payments being halved, I think block generation will maintain pace.

Now you understnad how hard it is to argue with people who don't know basic math Smiley

please donate to 1P3m2resGCP2o2sFX324DP1mfqHgGPA8BL
opticbit
Hero Member
*****
Offline Offline

Activity: 677


PGP: 6EBEBCE1E0507C38


View Profile WWW
July 18, 2011, 11:36:18 PM
 #9

Correct me if I'm wrong, but difficulty increases are used to stabilize the number of blocks generated per-day. So the rate of bitcoins being generated remains pretty consistent with each difficulty increase.

Until we see block payments being halved, I think block generation will maintain pace.

Now you understnad how hard it is to argue with people who don't know basic math Smiley

5 out of 4 people are bad at statistics gotta wonder how many are bad at easier math.

Set up the same thing..
http://bit.ly/btcrefs
Get more bitcoins.
Cluster2k
Legendary
*
Offline Offline

Activity: 1512


View Profile
July 19, 2011, 12:17:04 AM
 #10

The market is about to skyrocket tomorrow.

The mining difficulty is about to go up tomorrow, July 19th. Which means less bitcoins being created by miners and less supply which means a huge upturn.

Check out the last 3 difficulty increases.  The price did not move up and in fact fell after each move.

Plus, most people can not get their Dwolla money processed until around 6PM EST after the weekend so they are all sitting there wishing that Dwolla would get them their money already so they could buy in this downswing.

The weekend effect is now very weak.  Everyone expects it to happen, so by definition it won't happen the same way as it did before.  It also seems mondays have been lumped into the weekend too.  I wonder when Fridays and Tuesdays will become a part of it.

Do not send bitcoins to me: 16b8s7pBJ9rUmsExNW25qD5VUqVqRPZuXu
100% solar powered bitcoin generation
grod
Full Member
***
Offline Offline

Activity: 154


View Profile
July 20, 2011, 02:22:57 AM
 #11

Yup, miners have wisened up to the weekend effect and simply don't sell until Monday, extending the effect.  People change their trading strategies to take new information into account, they adapt.  Or become extinct.

TraderTimm
Legendary
*
Offline Offline

Activity: 1652



View Profile
July 20, 2011, 07:20:41 PM
 #12

The past increase in difficulty to 1,690,906 was one of the smallest in a while. This may change a few things when it comes to the 'cash out' or 'turn off rig' expectations.

I'm very interested to see what the next increase/decrease will bring.

fortitudinem multis - catenum regit omnia
AlexWaters
Member
**
Offline Offline

Activity: 72


Coin.co | Twitter:@watersNYC


View Profile
July 20, 2011, 09:49:11 PM
 #13

The market is about to skyrocket tomorrow.

Meh, wouldn't call that a skyrocket =/

Sitting at 13.4 right now feelsbad

Cluster2k
Legendary
*
Offline Offline

Activity: 1512


View Profile
July 21, 2011, 12:28:45 AM
 #14

The past increase in difficulty to 1,690,906 was one of the smallest in a while. This may change a few things when it comes to the 'cash out' or 'turn off rig' expectations.

It seems there are not as many people using free to 0.10kWh power as is often claimed on these forums.  If someone is mining with US 10 cent power they should still be adding as much capacity as possible.

Do not send bitcoins to me: 16b8s7pBJ9rUmsExNW25qD5VUqVqRPZuXu
100% solar powered bitcoin generation
grod
Full Member
***
Offline Offline

Activity: 154


View Profile
July 22, 2011, 02:58:26 AM
 #15

I've been holding my seat for a week now.  Can I let go yet?

Oh, and my power is .046 + tax, or roughly 6 cents a kw/hr.  I'm not adding capacity because I really don't see even $130 5830s paying for themselves any time soon.  I'll possibly add at 2 million difficulty and $6 BTC.
proudhon
Legendary
*
Offline Offline

Activity: 1148



View Profile
July 22, 2011, 03:07:50 AM
 #16

I've been holding my seat for a week now.  Can I let go yet?

Oh, and my power is .046 + tax, or roughly 6 cents a kw/hr.  I'm not adding capacity because I really don't see even $130 5830s paying for themselves any time soon.  I'll possibly add at 2 million difficulty and $6 BTC.


Wait, what?  You don't want to add now, but you might add when the difficulty is higher and the price is lower?
grod
Full Member
***
Offline Offline

Activity: 154


View Profile
July 22, 2011, 03:14:51 AM
 #17


Wait, what?  You don't want to add now, but you might add when the difficulty is higher and the price is lower?

Exactly.  At that point the risk will be lower and income more projectable.  I will have a better idea of my competition's limits, in other words.  ATM it's just faith-based gambling on BTC price going to ludicrous levels and a big question mark re: how low of a return other miners are willing to accept.

I suspect the 7 series will be out or at least announced, so that question mark will also be addressed.
Jaime Frontero
Full Member
***
Offline Offline

Activity: 126


View Profile
July 22, 2011, 05:39:49 AM
 #18

I've been holding my seat for a week now.  Can I let go yet?

Oh, and my power is .046 + tax, or roughly 6 cents a kw/hr.  I'm not adding capacity because I really don't see even $130 5830s paying for themselves any time soon.  I'll possibly add at 2 million difficulty and $6 BTC.


Wait, what?  You don't want to add now, but you might add when the difficulty is higher and the price is lower?

hit the "MEMBERS" link, go back and read grod's posts, proudhon.  all of them.  seriously.
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!