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Author Topic: It's Over  (Read 4134 times)
BadBear
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November 09, 2011, 05:00:55 PM
 #61

not really because the btc economy will have 'ups and downs' like a normal economy but will rebound faster because its smaller, anyways if people just start selling that will drive the price down and then people will start to buy because they will be so cheap ... I think


Problem is, what happens when the price goes back down again, and everyone who would buy them just because they are cheap, have already bought them? No interested buyers left and the price stagnates and continues to drop.  You'll see a few rallies, which will be sold into hard and killed by people who bought too early/miners who want to sell before the price drops again.   

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bittenbob
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November 10, 2011, 01:27:45 AM
 #62

I think naturally the price of a bitcoin will settle around the cost of the electricity to mine them. Coincidentally it costs more to produce a bitcoin than it is worth right now so I think eventually it should settle out around $5/BTC. Of course if the new ATI 7xxx series performs as well as the current 6xxx series for mining with half the electricity costs it might be at its stabilized value now. Electricity costs have zero effect on my willingness to mine since I live in an apartment and my landlord recently decided to jack my rent by $40 instead of the $8 which was prescribed for this year. If I can spend an extra $60/month on mining purely out of spite I will.
BadBear
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November 10, 2011, 07:21:00 AM
 #63

The cost of electricity is pretty irrelevant to the price, especially since a lot of miners aren't paying their electricity bills.  Also, look at the FPGA miners people are working on, would mean electricity cost would be way lower than it is now, thus forcing non FPGA miners out of the market, and driving the prices even lower.  I wish I could be as optimistic as some of you, but everywhere I look things are not looking good. 

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Bemtje
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November 10, 2011, 07:32:35 AM
 #64

I'm pumping out 18 GH/s and only averaging $250 a month for the whole house,,, 3,000 sq/ft.
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November 10, 2011, 01:16:17 PM
 #65

The cost of electricity is pretty irrelevant to the price, especially since a lot of miners aren't paying their electricity bills.  Also, look at the FPGA miners people are working on, would mean electricity cost would be way lower than it is now, thus forcing non FPGA miners out of the market, and driving the prices even lower.  I wish I could be as optimistic as some of you, but everywhere I look things are not looking good. 

100% true. Botnets also. Stolen coins also. Price is going down.
mrdavis
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November 10, 2011, 03:01:17 PM
 #66

The number of new bitcoins entering the market remains constant. Botnet operators may not hoard... err... speculate and will make the market price lower, but that just helps stop artificial bubbles. In 60k blocks or so the flow of bitcoins entering the market will be cut in half and then again in a few years after that. Mining is not the only way to get bitcoins and hasn't been the best way for quite some time. Buy them on an exchange. Trade some goods or services for them.

Most who treat bitcoins as an investment will probably end up disappointed.

So long as everything doesn't completely collapse. Everyone who thinks of bitcoin as a pseudonymous decentralized medium of exchange will be satisfied.

Not being a slave has value not comparable to USD.
mrblue
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May 02, 2013, 08:38:15 AM
 #67

Looks like OP made a big mistake... Grin
RubberChicken
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May 02, 2013, 09:04:29 AM
 #68

This thread is awesome! Good find.  Grin
jaredw
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May 02, 2013, 09:45:47 AM
 #69

I wish I'd got in on the speculating sooner, but bitcoin seems pretty robust overall and it won't stop being used just because only ASIC users can mine it and the value fluctuates insanely
Opsamk
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November 28, 2013, 03:02:49 PM
 #70

I regret this so much...

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noob2001
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November 28, 2013, 03:05:43 PM
 #71

you still got 67btc, right?
Opsamk
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November 28, 2013, 03:08:12 PM
 #72

you still got 67btc, right?
Got me $300 last year, was proud of it and still am proud. Unfortunately I didn't recognize that investments need to be long-term to get the maximum benefits.

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Wendigo
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November 28, 2013, 03:11:26 PM
 #73

Dude you missed out on $100 000   Grin

noob2001
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November 28, 2013, 03:12:03 PM
 #74

you still got 67btc, right?
Got me $300 last year, was proud of it and still am proud. Unfortunately I didn't recognize that investments need to be long-term to get the maximum benefits.

thats a shame......

no point looking back bro.
Opsamk
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November 28, 2013, 03:25:19 PM
 #75

you still got 67btc, right?
Got me $300 last year, was proud of it and still am proud. Unfortunately I didn't recognize that investments need to be long-term to get the maximum benefits.

thats a shame......

no point looking back bro.
I am very tempted to just blow $22k on a certain miner because I now know what bitcoin is capable of.

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Minecache
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November 28, 2013, 03:52:04 PM
 #76

We are all on a journey and who knows where it will take us so you shouldn't feel bad Sir. Even if this bitcoin experiment simply helps to loosen the grip the parasitic banksters have over us then every cent spent and lost is worth it.

Ethereum Doubler Contract: http://doubler-ethereum2.rhcloud.com
WayTooGosu
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November 28, 2013, 04:50:39 PM
 #77

67 BTC is an insane amount to have. I am sure that a lot of that is profit so you did have a good run with BTC.

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