blajde (OP)
Sr. Member
 Offline
Activity: 364
Merit: 250
Pre-sale - March 18
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April 02, 2014, 09:10:17 PM |
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At 2014-04-02 Crypto made it obvious to all users:
The new low, introducing Hash's Law.
at a value at 420$ the community stands united and strong.
China can collapse, Mt.Gox can fall but 420 is unbreakable.
Today history was written!
You can take our money but you can take our PoF (Proof of Freedom)
Regards,
/ Hashish community spokesman
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roslinpl
Legendary
Offline
Activity: 2212
Merit: 1199
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April 02, 2014, 11:34:39 PM |
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At 2014-04-02 Crypto made it obvious to all users:
The new low, introducing Hash's Law.
at a value at 420$ the community stands united and strong.
China can collapse, Mt.Gox can fall but 420 is unbreakable.
Today history was written!
You can take our money but you can take our PoF (Proof of Freedom)
Regards,
/ Hashish community spokesman
Well hello!  Yes you are right. I must add that $420 is a great price according to price 1 year ago! Bitcoin will never die Freedom is a state of mind! |
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induktor
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April 03, 2014, 12:10:42 AM |
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I disagree, anything below 600 is desastrous for miners that have invested heavily in it. at the current exchange I can hold production for two more months, if the price doesn't go up, I will have to shut everything off  |
BTC addr: 1vTGnFgaM2WJjswwmbj6N2AQBWcHfimSc
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K128kevin
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April 03, 2014, 01:25:43 AM |
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I disagree, anything below 600 is desastrous for miners that have invested heavily in it. at the current exchange I can hold production for two more months, if the price doesn't go up, I will have to shut everything off  I think the price will be a good amount higher in 2 months, so hopefully you won't have to shut everything off. I will be very surprised if it is lower. |
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twiifm
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April 03, 2014, 01:29:35 AM |
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I disagree, anything below 600 is desastrous for miners that have invested heavily in it. at the current exchange I can hold production for two more months, if the price doesn't go up, I will have to shut everything off This is interesting. So you are saying it costs more than $600 to mine 1 BTC? |
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right wing authoritarian
Member
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Activity: 73
Merit: 10
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April 03, 2014, 01:40:39 AM |
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It could cost 600 if depending on hardware and electricity price. Although people who stayed in mining when the price fell from 30 to 2 dollars made a killing. So it all depends on your expectations. I suspect many people with older asic will retire their gear though if and when BFL starts delivering.
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aminorex
Legendary
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Activity: 1596
Merit: 1030
Sine secretum non libertas
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April 03, 2014, 02:12:39 AM |
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I have long since retired asic miners. And BFL gen 1. Now looking at retiring BitFury. Running Cointerra happily. Looking at A1s. And yes, if you buy A1s today, and sell under $600 you are taking a loss. Since the hash rate just jumped a LOT recently, probably $700 is a better estimate of break-even. Since the majority of mining capacity was bought at a much higher price than today's capacity, almost all miners are losing money unless they hold out for much higher prices.
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Give a man a fish and he eats for a day. Give a man a Poisson distribution and he eats at random times independent of one another, at a constant known rate.
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twiifm
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April 03, 2014, 02:25:56 AM |
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I have long since retired asic miners. And BFL gen 1. Now looking at retiring BitFury. Running Cointerra happily. Looking at A1s. And yes, if you buy A1s today, and sell under $600 you are taking a loss. Since the hash rate just jumped a LOT recently, probably $700 is a better estimate of break-even. Since the majority of mining capacity was bought at a much higher price than today's capacity, almost all miners are losing money unless they hold out for much higher prices.
Yikes, sorry to hear that. I never thought about the economics of BTC mining. What happens if the miners close shop? Don't you need miners to support the network? What about the commercial operations? Does it cost them the same? I suppose its cheaper where electricity is cheaper |
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Bit_Happy
Legendary
Offline
Activity: 2114
Merit: 1040
A Great Time to Start Something!
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April 03, 2014, 02:59:59 AM |
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At 2014-04-02 Crypto made it obvious to all users:
The new low, introducing Hash's Law.
at a value at 420$ the community stands united and strong.
China can collapse, Mt.Gox can fall but 420 is unbreakable.
Today history was written!
You can take our money but you can take our PoF (Proof of Freedom)
Regards,
/ Hashish community spokesman
Low: 416 USD Introducing Hash's Law amendments? We are near the bottom, hopefully. |
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right wing authoritarian
Member
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Activity: 73
Merit: 10
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April 03, 2014, 07:24:12 AM |
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[/quote]
Yikes, sorry to hear that. I never thought about the economics of BTC mining. What happens if the miners close shop? Don't you need miners to support the network?
What about the commercial operations? Does it cost them the same? I suppose its cheaper where electricity is cheaper
[/quote]
Hash rate goes down if miners quit, making it more profitable to mine. There will always be mining. I am planning on buying up a lot of the unprofitable hardware to make bitcoins if there is a hash crash.
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softron
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April 03, 2014, 07:32:12 AM |
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I agree too. Anything below 400 and buyers would pop out everywhere.
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blajde (OP)
Sr. Member
Offline
Activity: 364
Merit: 250
Pre-sale - March 18
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April 03, 2014, 07:33:40 AM |
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At 2014-04-02 Crypto made it obvious to all users:
The new low, introducing Hash's Law.
at a value at 420$ the community stands united and strong.
China can collapse, Mt.Gox can fall but 420 is unbreakable.
Today history was written!
You can take our money but you can take our PoF (Proof of Freedom)
Regards,
/ Hashish community spokesman
Low: 416 USD Introducing Hash's Law amendments? We are near the bottom, hopefully. Hash's law is more than just a number. Anything below 420 is still 420 since we will always be higher |
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pandher
Legendary
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Activity: 952
Merit: 1000
Stagnation is Death
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April 03, 2014, 07:39:47 AM |
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416 now
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NoWhammies
Member
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Activity: 62
Merit: 10
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April 03, 2014, 08:35:27 AM |
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Corelianer
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April 03, 2014, 11:46:36 AM |
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I'm buying now because I know that I can buy them cheaper than miner can produce them.
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BitOnyx
Member
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Activity: 112
Merit: 10
Cryptocurrencies Exchange
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April 03, 2014, 12:30:45 PM |
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It is not new low when you compare it to price one year ago.
People have very short memory .
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spazzdla
Legendary
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Activity: 1722
Merit: 1000
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April 03, 2014, 04:41:29 PM |
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$450...
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Bit_Happy
Legendary
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Activity: 2114
Merit: 1040
A Great Time to Start Something!
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April 03, 2014, 04:52:34 PM |
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$576....$780! Let's buy some more hashing power?  |
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right wing authoritarian
Member
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Activity: 73
Merit: 10
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April 04, 2014, 12:41:43 PM |
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All this anxiety about bitcoin volatility and analysis of the consequences of price changes is kind of funny. If bitcoin was perfectly stable then the return would equal that of other risk free assets. Higher risk higher return and more chance for cheap coins.
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Cheesus
Sr. Member
Offline
Activity: 692
Merit: 254
terra-credit.com
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April 04, 2014, 01:56:38 PM |
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All this anxiety about bitcoin volatility and analysis of the consequences of price changes is kind of funny. If bitcoin was perfectly stable then the return would equal that of other risk free assets. Higher risk higher return and more chance for cheap coins.
This. There is a very slim chance you will find an investment that will be risk free and will offer high reward... |
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