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

[igorr]

igorr, do you still have a short position?  It seems to me that if we don't get support here in the $400 range you could be in for a pretty wicked additional profit on your short position.

After $400 where is the next price support?  $340?  $300?  less?  Very hard to predict.

I am not sure, but I think short  position is still good choice, maybe until price of 200-250 usd,
but be careful, because willy bot can wake  up at any moment, and price can explode.
(you must have set up stop loss)

In the chase, if willy bot aggressively raise bitcoin price (to $1500 or more),
some big currency exchange will disappear, and your money can be trapped,
a similar scenario as MtGox. (so logically)


Now is mining factor 0.5 cent/Gh at 24h,
Just remember, the cost of electricity are about 0.1 cent/Gh at 24h !!!
(power consumption for asic is 0.5W/Gh, and hardware prices not included in calculations )
Current Ratio is 1:5  (without hardware cost)

After six days mining factor will be -18% or 0.4 cent/Gh at 24h. (in the best chase)

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[DeadCoin]

All bow to igorr, he's a prophet!

He was true in the end. I should have listened, but how could I have known he was true.

Well, he's only half 'true'

He spotted the trend that mining is not sustainable long term, which is true. He spotted bots hyping the price on some exchanges, which is likely, but cannot be proven. He says to exit to fiat, which is supposedly a safe haven, which is total bull shit.

As you can see, there is a grain of truth in his words, but far from all of what he says.

It is usually like that for what everyone say; Schiff is right on most subjects but he has been wrong on Bitcoin (https://www.youtube.com/user/SchiffReport)

Actually, it's exactly the opposite, Schiff has been dead wrong on most subjects but he's right about bitcoin.

[favelle75]

Have we collapsed yet?  What is taking so long.....seriously.

[Oscilson]

History will repeat itself. BTC is not collapsing.

[Wilhelm]

Have we collapsed yet?  What is taking so long.....seriously.

Reason: Fallllings alts keep getting banned so he can't doom us all with his superior motivational sell speeches

[igorr]

History will repeat itself. BTC is not collapsing.

If you think about raising prices , it is very possible scenario, (willy bot in action again),
but it can not make a profit, your money and  your bitcoins will be trapped, the same scenario as MtGox.
In any case, you lose.

[Oscilson]

History will repeat itself. BTC is not collapsing.

If you think about raising prices , it is very possible scenario, (willy bot in action again),
but it can not make a profit, your money and  your bitcoins will be trapped, the same scenario as MtGox.
In any case, you lose.

That is also my concern. That is why Bitcoin trading (exchange) has to be regulated/insured to some extent.

[igorr]

Today we have new mining factor 0.4 cent/Gh at 24h  !
What will be for next 13 days check here: https://bitcoinwisdom.com/bitcoin/difficulty



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[boumalo]

History will repeat itself. BTC is not collapsing.

If you think about raising prices , it is very possible scenario, (willy bot in action again),
but it can not make a profit, your money and  your bitcoins will be trapped, the same scenario as MtGox.
In any case, you lose.

People say Bitcoin collapsed but the price is still 4times higher than a year ago! 400$ a coin is not a collapse

It is usually like that for what everyone say; Schiff is right on most subjects but he has been wrong on Bitcoin (https://www.youtube.com/user/SchiffReport)

We don't know yet if he has been wrong on Bitcoin. From what I've watched a few months ago he said Bitcoin can be copied. Well, he's not completely wrong. Bitcoin has been copied, at least the idea, and the idea has been improved upon in crypto 2.0 technologies, and this is still unfolding. Those who keep holding Bitcoins and stop looking for opportunities to invest them, will at best be able to maintain their status quo. Profits in Bitcoin are very limited, and mostly go to ASIC chip manufacturers at this point.

Can tell you a lot of businesses that have been copied but do fine; there will be competitors to Bitcoin and Bitcoin may loose the first place or even be only a relique of the past but Bitcoin is a protocole that has an eco system around it and is the only big crypto currency at the moment and a competitor hard to beat in the current state of things

Look at this thread : https://bitcointalk.org/index.php?topic=792463.msg8928000#msg8928000

[botany]

History will repeat itself. BTC is not collapsing.

If you think about raising prices , it is very possible scenario, (willy bot in action again),
but it can not make a profit, your money and  your bitcoins will be trapped, the same scenario as MtGox.
In any case, you lose.

People say Bitcoin collapsed but the price is still 4times higher than a year ago! 400$ a coin is not a collapse

That argument is going to go out of the window very soon.

[Oscilson]

People say Bitcoin collapsed but the price is still 4times higher than a year ago! 400$ a coin is not a collapse

If the BTC price does not rise, it will not be 4 times higher in December.

[boumalo]

People say Bitcoin collapsed but the price is still 4times higher than a year ago! 400$ a coin is not a collapse

If the BTC price does not rise, it will not be 4 times higher in December.

No but it will be 4times higher than 14months before 

My point is the price is still relatively very high

[panju1]

People say Bitcoin collapsed but the price is still 4times higher than a year ago! 400$ a coin is not a collapse

If the BTC price does not rise, it will not be 4 times higher in December.

No but it will be 4times higher than 14months before 

My point is the price is still relatively very high

Not for the ones who invested in 2014.

[boumalo]

People say Bitcoin collapsed but the price is still 4times higher than a year ago! 400$ a coin is not a collapse

If the BTC price does not rise, it will not be 4 times higher in December.

No but it will be 4times higher than 14months before 

My point is the price is still relatively very high

Not for the ones who invested in 2014.

Thus the "relatively" high

The average price in 2014 must be 450-480$ so we are not too far away from this price; a bit more people may have bought higher than 480$ than lower than 450$ but still; there is still more winners than losers; let's be a bit patient, give it a few years!

[cinnamon_carter]

Hey Igorr, relax , just relax

[BurtW]

Hey Igorr, relax , just relax

I think he is very relaxed with is big fat profitable short position.

[DeadCoin]

I pay you 400 per coin!

Is the deal still on?

[devphp]

Hey Igorr, relax , just relax

I think he is very relaxed with is big fat profitable short position.

Yeah, Bitcoin is going to test $300 now, he must be relaxed alright
But like I said a week or two earlier in this thread, he's only half right about things.

[igorr]

mining factor is 0.3 cent/Gh at 24h !!!

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[Xiaoxiao]

mining factor is 3 cent/Gh at 24h !!!

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what does this mean?  what does 3 cent/gh mean?  I'm clueless how mining works though I've been around since 2011.  Never thought mining was worth it, and it seems like i might be right.