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Author Topic: PANIC!  (Read 6094 times)
tacotime
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August 03, 2011, 06:04:51 PM
 #41

Whether the price is going up or down, MagicalTux must be really happy, look at the volumes!!

Yup, the volumes are great news, people are in on bitcoin whether we like it or not and it's not just stagnant bot trading

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SgtSpike
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August 03, 2011, 06:08:52 PM
 #42

Whether the price is going up or down, MagicalTux must be really happy, look at the volumes!!
510 BTC for the day in commissions... not bad.

On another interesting note, the price is getting dangerously close to my break even point for mining.  $7 is when I shut it off, since costs are so much higher with running the A/C to keep everything cool.  Come fall time, when I don't need the A/C anymore, it'll be much more viable, back down to $4 or so per BTC needed to keep mining.  I expect others are crunching similar numbers for typical at-home setups.
tacotime
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August 03, 2011, 06:10:48 PM
 #43

Which is good, we had to see a power expense to profit level evening out eventually and I think very quickly we will.  As soon as the number of TH/s fall the supply will deflate and we'll see less BTC going into the market, which should inflate price.

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stic.man
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August 03, 2011, 06:24:04 PM
 #44

Which is good, we had to see a power expense to profit level evening out eventually and I think very quickly we will.  As soon as the number of TH/s fall the supply will deflate and we'll see less BTC going into the market, which should inflate price.

nope, BTC are produced in the same amount approximately all the time

all that would happen is difficulty would drop and miners would get more coins apiece.
Hawkix
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August 03, 2011, 06:24:28 PM
 #45

Lowering the TH/s will not lower the total amount of BTC being mined. Well, for next 2000 blocks, maybe. But then, it will re-adjusts again to 7200 BTC per day.

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shivansps
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August 03, 2011, 07:54:18 PM
 #46


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CurbsideProphet
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August 03, 2011, 07:59:22 PM
 #47

Back up the truck guys!  Start wiring in those funds!  If you wire today through Paxum, you'll probably have your money in MtGox by next week Tuesday  Cheesy Cheesy

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August 03, 2011, 08:02:34 PM
 #48

Anyone got a beer?   Grin   Annnd maybe a cigar.

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August 03, 2011, 08:19:38 PM
 #49

We haven't had a good panic sell off in weeks. Please stay low till I get home from work.

The gospel according to Satoshi - https://bitcoin.org/bitcoin.pdf

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evolve
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August 03, 2011, 08:24:51 PM
 #50

Mike Moceri
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August 03, 2011, 08:26:44 PM
 #51

I'm curious if anyone has tried backtracking on blockexplorer to see whether or not the funds being dumped are from MyBitcoin addresses.
JBDive
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August 03, 2011, 08:27:27 PM
 #52

Seems the volume of panic sellers has dried up at this point, yes?
Nagle
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August 03, 2011, 08:32:18 PM
 #53

Seems the volume of panic sellers has dried up at this point, yes?
No, the volume of buyers has dried up. There's very little market depth on the buy side right now. The current buy-side "wall" is at $8. and it's small by the standards of a day or so ago.

JBDive
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August 03, 2011, 08:34:47 PM
 #54

Seems the volume of panic sellers has dried up at this point, yes?
No, the volume of buyers has dried up. There's very little market depth on the buy side right now. The current buy-side "wall" is at $8. and it's small by the standards of a day or so ago.



I was just looking at the overall volume of trades now compared to a few hours ago. Certainly a lack of volume now, didn't go look to see the full spread.
DrKennethNoisewater
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August 03, 2011, 08:38:09 PM
 #55

THis is me in the picture right now



I can't get enough of this.

Cheap bitcoins for everyone. NO easy money for computer geeks running code on their video cards.

I do not own a single bitcoin either!  Grin Grin Grin Grin Grin
This is it RIGHT HERE FOLKS. You let people like this laugh at you? EDUCATE YOURSELF...

Everytime there is a "heist" of some type, the coins end up hitting the mkt in this fashion.

If BTC stays below $10 for a prolonged period, I know I'll be shutting off my miners until we get back up to 15, if ever.

Dealing with this heat and noise to break even? F*!% that noise.................

 Embarrassed
kiwiasian
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August 03, 2011, 08:51:27 PM
 #56

I'm guessing you all are confident that it will rebound from 10 if you are buying in right now

If it goes lower then 10 I'm out

Edit: Shit.

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fitty
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August 03, 2011, 08:53:08 PM
 #57

I'm guessing you all are confident that it will rebound from 10 if you are buying in right now

If it goes lower then 10 I'm out

CYA!
Crazy
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August 03, 2011, 08:58:05 PM
 #58

I'm guessing you all are confident that it will rebound from 10 if you are buying in right now

If it goes lower then 10 I'm out

Edit: Shit.
Smart move
the joint
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August 03, 2011, 08:58:37 PM
 #59

I'm guessing you all are confident that it will rebound from 10 if you are buying in right now

If it goes lower then 10 I'm out

CYA!



Tank!!!!!!   Grin

proudhon
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August 03, 2011, 09:03:27 PM
 #60

I'm guessing you all are confident that it will rebound from 10 if you are buying in right now

If it goes lower then 10 I'm out

Edit: Shit.

LOL.
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