Bitcoin Forum
April 20, 2018, 08:04:46 AM *
News: Latest stable version of Bitcoin Core: 0.16.0  [Torrent]. (New!)
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: Circle opening its doors means we're close to the bottom?  (Read 773 times)
benjamindees
Legendary
*
Offline Offline

Activity: 1330
Merit: 1000


View Profile
September 30, 2014, 12:24:09 PM
 #1

I mean, that's what I would do if I were them.  Their business model seems to have a lot of risk if the price of Bitcoin fluctuates, what with the chargebacks and no conversion fees and storing balances in fiat and insurance and such.

Based on what I've seen, they make more money as the price of Bitcoin rises.  And they have a chunk of money backing them.  So, I would guess that they are making a bet the market will be on the upswing soon by choosing to open now.  Sound reasonable, or no?

Civil Liberty Through Complex Mathematics
1524211486
Hero Member
*
Offline Offline

Posts: 1524211486

View Profile Personal Message (Offline)

Ignore
1524211486
Reply with quote  #2

1524211486
Report to moderator
1524211486
Hero Member
*
Offline Offline

Posts: 1524211486

View Profile Personal Message (Offline)

Ignore
1524211486
Reply with quote  #2

1524211486
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
Ibian
Legendary
*
Online Online

Activity: 1568
Merit: 1063


View Profile
September 30, 2014, 12:42:20 PM
 #2

I'm more concerned with miners. If they really are dumping more as the price drops to remain solvent, the bottom could be close to whatever it costs to make a coin in electricity. Which is a number I don't have, but based on other posts it might be lower than where we are. Of course, difficulty also keeps climbing pushing price up, so maybe we are close already.

There is no bubble.
pitham1
Legendary
*
Offline Offline

Activity: 1232
Merit: 1000


View Profile
September 30, 2014, 06:42:27 PM
 #3

I'm more concerned with miners. If they really are dumping more as the price drops to remain solvent, the bottom could be close to whatever it costs to make a coin in electricity. Which is a number I don't have, but based on other posts it might be lower than where we are. Of course, difficulty also keeps climbing pushing price up, so maybe we are close already.

There are some miners operating on free/ subsidized electricity... So you never know.

Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!