Bloody Monday in the bitcoin?

[Bigpiggy01]

This post is inspired by https://bitcointalk.org/index.php?topic=39604.0

I just had to see how this feels 



The question still remains though if it will or will not be? Me thinks not once the US wake up but atm it is looking a bit bloody  at least when going by the color on bitcoincharts.

[Cluster2k]

The question still remains though if it will or will not be? Me thinks not once the US wake up but atm it is looking a bit bloody  at least when going by the color on bitcoincharts.

Probably not much of nothing.  The price will continue to hover around $9.  But I'm waiting for the excuses as to why the price is once again in single digits.  Maybe someone will mention Hurricane Irene, and how all those New Yorkers are without power and/or Internet, therefore they can't feast on the ridiculously cheap bitcoins on offer.  It's a bank holiday in England too, so they can't get money into exchanges either.  If only they could, the price would go up...  There's always the time honoured weekend reasoning too.

[hmongotaku]

IT's down to 8. As long as it's profitable no cries yet guys. I calucated my profitbility is 4usd/btc.

[kwukduck]

The hell guys...
I had to stop mining when it dropped under 15 USD...
You guys have free electricity or what? :S

[phorensic]

The hell guys...
I had to stop mining when it dropped under 15 USD...
You guys have free electricity or what? :S

Why yes, yes I do 

[Cluster2k]

The hell guys...
I had to stop mining when it dropped under 15 USD...
You guys have free electricity or what? :S

No one has free electricity.  It's 'free' to the user but someone, somewhere pays.  If it's a flat fee or part of a rental agreement it'll get reset when someone notices thousands of extra kilowatt hours being consumed.

My magic number is $9.  Anything under that means it's not profitable to mine (high power costs, 6 series cards instead of 5 (not available for 6+ months here), currency conversion costs, very weak US dollar, etc).

[Ricochet]

I stopped mining at around the $1-2 mark I think >_>

Not exactly much you can do with a total of 5 MHash/s today, though back then it was worth a few pennies an hour.  "Free" electricity was provided by my college flat-rate per-semester rent figure.

EDIT:  Okay let's make this more accurate.  I stopped mining right at the very beginning of March, which was right after BTC had come down from its $1 parity level, mining at about 0.10 BTC per day (then worth $0.10 per day).