URGENT, Bitcoin is on the verge of collapse !!!

[igorr]

I think that most the old equipment will stay plugged if the price doesn't go down too much,

You are right, but, how the price to go up ?

If the price is falling, or if the price is standing, Bitcoin will every day more to lose popularity and interest for him
(Standing bitcoin price, People can not get any profit and lost interest)
 
I think
1. the price will falling, and it's not good for Bitcoin
2. The price will be stable, and it's also not good for Bitcoin, and after some stable period, again  will falling,
because people can not make a profit, and Bitcoin is not legally regulated

the only option for growth is Goxxing, If Bitstamp do it, people will again lose their money,
as in the case of MtGox

[boumalo]

You are right that there is a lot happening that we don't see

Failing or sable prices push some people out of Bitcoin but I am confident that the economic turmoil that is coming for the US and Europe will push Bitcoin price to new highs

[igorr]

You are right that there is a lot happening that we don't see

Failing or sable prices push some people out of Bitcoin but I am confident that the economic turmoil that is coming for the US and Europe will push Bitcoin price to new highs

These events, before will push real gold price to new highs,
Bitcoin is not legally regulated, there are no guarantees,
and no guarantee that for 10 days will not be worth anything.

For example,
I would not even pay $ 100 for all bitcoin (12.5 M),
It's easy for me has no value as for most people on the planet.
Rael gold has always had value and will have value in the future,anytime and anywhere on the planet.

[boumalo]

You are right that there is a lot happening that we don't see

Failing or sable prices push some people out of Bitcoin but I am confident that the economic turmoil that is coming for the US and Europe will push Bitcoin price to new highs

These events, before will push real gold price to new highs,
Bitcoin is not legally regulated, there are no guarantees,
and no guarantee that for 10 days will not be worth anything.

For example,
I would not even pay $ 100 for all bitcoin (12.5 M),
It's easy for me has no value as for most people on the planet.
Rael gold has always had value and will have value in the future,anytime and anywhere on the planet.

Gold has real value, yes of course but Bitcoin has value as well because it can do a lot of useful things : move money around, pay merchants...And there is a growing community involved

I see Gold climbing to a few thousands dollars as soon as everyone see the USD collapsing

[kokojie]

You are right that there is a lot happening that we don't see

Failing or sable prices push some people out of Bitcoin but I am confident that the economic turmoil that is coming for the US and Europe will push Bitcoin price to new highs

These events, before will push real gold price to new highs,
Bitcoin is not legally regulated, there are no guarantees,
and no guarantee that for 10 days will not be worth anything.

For example,
I would not even pay $ 100 for all bitcoin (12.5 M),
It's easy for me has no value as for most people on the planet.
Rael gold has always had value and will have value in the future,anytime and anywhere on the planet.

A monkey would not pay anything for all the gold in the world, it would trade all the gold in the world for a banana, because banana is valuable to a monkey, gold is not. Gold has no intrinsic value to a monkey.

So you see, gold is valuable, not because it has some sort of "intrinsic value", but because humans think it's valuable. Therefore if a lot of humans think Bitcoin is valuable, then Bitcoin has value, same as gold.

[bgmc]

It will only collapse if everyone WANTS it to collapse. Last I checked most bitcoin users want it to succeed. This will drive the price back up.

[Bit_Happy]

I remember the start of this thread February 15, 2014, 10:04:32 AM.
One month goes WAY too fast.

[BitChick]

If the failure of Mt. Gox did not cause Bitcoin to collapse I am not sure what, if anything, could at this point.

The question is how widely will it be adopted and for what use in the world.  Time will tell.

[bgmc]

URGENT!! Sell USD!!!
You'll never make money by hoarding USD!!!
USD is going nowhere!!!
Instead, trade them for BTC!!!

[igorr]

The mining factor is 7cents/Gh at 24h, for next 10 days we will have a new mining factor -13%,
Only in the case that the BTC price remains constant.

View Screen Capture

[GigaCoin]

So many URGENT news 

[galbros]

While BGMC is kinda joking this is a key point.  I don't think there has been a single period since it's inception that a bitcoin has been worth less than it was a year ago.  Obviously, this will get tested in November, but last year at this time we were all going nuts because bitcoin had passed 100 USD on it's way to 250.  This is compared to the USD which intentionally loses 2% of its value every year due to inflation.

BTC may indeed collapse, but at least its not managed to lose value every year.

[igorr]

While BGMC is kinda joking this is a key point.  I don't think there has been a single period since it's inception that a bitcoin has been worth less than it was a year ago.  Obviously, this will get tested in November, but last year at this time we were all going nuts because bitcoin had passed 100 USD on it's way to 250.  This is compared to the USD which intentionally loses 2% of its value every year due to inflation.

BTC may indeed collapse, but at least its not managed to lose value every year.

Production costs ASIC hardware they approached the earnings from the sale of Bitcoin,
and mining company out of mining,and no more need to artificially manipulate with Bitcoin prices.


Perhaps the now interesting,
development of ASIC hardware for LTC and other script cryptocoins,
because SHA 256 mining is impossible, and game is over for Bitcoin, mining factor is about 7cents/GH at 24h !!!
Now we'll have a repeat of Bitcoin but with Litecoin.
These are great speculation mining company, for the sake of their huge profits.
They do a lot of wisely and systematic.

[igorr]

for months no purchase Bitcoin, It seems that nobody should Bitcoin.

[BurtW]

because SHA 256 mining is impossible, and game is over for Bitcoin, mining factor is about 7cents/GH at 24h !!!

You mean to tell me that I can make $70 per day if I only have 1 TH of mining power?  Cool!  I did not realize it was that high.

1 TH at 1 J/GH = 1000 Watts, which is only 24 kWh per day which is only $2.40 per day.

I may have to get into mining if what you say is true and it really is that profitable.

Hardly impossible given your claim of $0.07 per GH per day.

[BurtW]

for months no purchase Bitcoin, It seems that nobody should Bitcoin.

What the heck do you mean?  Do you mean that you have not purchased any Bitcoins for months now?  If so, why would we care?

I know I have purchased in the last few months so you cannot possibly mean that no one has purchased Bitcoins for months, that would be just silly.

[igorr]

because SHA 256 mining is impossible, and game is over for Bitcoin, mining factor is about 7cents/GH at 24h !!!

You mean to tell me that I can make $70 per day if I only have 1 TH of mining power?  Cool!  I did not realize it was that high.

1 TH at 1 J/GH = 1000 Watts, which is only 24 kWh per day which is only $2.40 per day.

I may have to get into mining if what you say is true and it really is that profitable.

Hardly impossible given your claim of $0.07 per GH per day.

But hardware of 1 Th/s cost about 3000  usd, and we have difficulty rise every 12 days.
You try to calculate.

[SparkIt]

because SHA 256 mining is impossible, and game is over for Bitcoin, mining factor is about 7cents/GH at 24h !!!

You mean to tell me that I can make $70 per day if I only have 1 TH of mining power?  Cool!  I did not realize it was that high.

1 TH at 1 J/GH = 1000 Watts, which is only 24 kWh per day which is only $2.40 per day.

I may have to get into mining if what you say is true and it really is that profitable.

Hardly impossible given your claim of $0.07 per GH per day.

But hardware of 1 Th/s cost about 3000  usd, and we have difficulty rise every 12 days.
You try to calculate.

Well, let's say diff rises with ~10% every 12 days. I guess that means you get 10% less BTC.

12*67=805

67*(4,250,217,920/(4,250,217,920*1.1))= 61

12*61=732

61*((4,250,217,920*1.1)/(4,250,217,920*(1.1^2))=55.5

12*55.5=666

55.5*((4,250,217,920*(1.1^2)/(4,250,217,920*(1.1^3))=50.5

50.5*12=606

After 48 days he will have gotten 805+732+666+606=2800~~

3000-2800=200.

200/50=4

48+4=52

After 52 days he will have gotten his money back. After that it's pure profit.

It would be profitable to mine for at least 120 days more (This is what I'm thinking before doing any calculations).

Another 48 days would give him:


50.5*(4,250,217,920*(1.1^3)/(4,250,217,920*(1.1^4)=46

46*12=552

46*(4,250,217,920*(1.1^4)/(4,250,217,920*(1.1^5)=42

42*12=505

42*(4,250,217,920*(1.1^5)/(4,250,217,920*(1.1^6)=38

38*12=456

38*(4,250,217,920*(1.1^6)/(4,250,217,920*(1.1^7)=35

35*12=420

35*(4,250,217,920*(1.1^7)/(4,250,217,920*(1.1^8)=32

32*12=384

552+505+456+420+384=2300

After 100 days of mining he would have gotten 3000+2300=5300 USD.
That's 2300USD profit, including electricity

But as you see, it will probably be mineable for at least 100 days more. That would give him at least 2500-3000 dollar I guess

[BurtW]

I personally am not interested in mining because of the huge variations in price and the problems with predicting the future difficulty, not to mention equipment delivery issues.  However, your statement that it is "impossible" to mine right now has, like so many of your other assertions, been shown to be false.

[knightcoin]

I personally am not interested in mining because of the variation in price and the problems with predicting difficulty.  However, your statement that it is "impossible" to mine right now has, like so many of your assertions, been shown to be false.

As a miner I price my BTC as the dificult ... in the such way an artist should price his art work ... I mean, I am pretty much sentimental about my BTC