galdur
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January 10, 2015, 11:18:52 PM |
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And I´ve heard way too many failed excuses from bitcoin cultists since last spring over the constantly tanking BTC to take excuses from mining experts of that same cult at face value. Something stinks about how this difficulty forms.
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Gws24
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January 10, 2015, 11:25:13 PM |
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lol, really? People are trying to help you and explain it and now we're part of a cult? You're the one who seems to have a problem with a concept as simple as 'average'. Furthermore, btc price has nothing to do with mining and mining difficulty but you won't get that either I'm guessing. I'm done and welcome to my ignore list.
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galdur
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January 10, 2015, 11:29:43 PM |
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lol, really? People are trying to help you and explain it and now we're part of a cult? You're the one who seems to have a problem with a concept as simple as 'average'. Furthermore, btc price has nothing to do with mining and mining difficulty but you won't get that either I'm guessing. I'm done and welcome to my ignore list.
Well, fortunately I have ignored the help from people that have been telling me to buy and hold BTC for a year now. So chances are that this will work just as well for me as other helpers in this bitcoin mess are concerned.
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Mabsark
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January 11, 2015, 12:17:43 AM |
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Well, fortunately I have ignored the help from people that have been telling me to buy and hold BTC for a year now. So chances are that this will work just as well for me as other helpers in this bitcoin mess are concerned.
Well, unfortunately for you, you also ignored those who warned you against "investing" in ponzis that refuse to provide any evidence of legitimacy and got ripped off by pbmining and hashie, and you're just waiting to get ripped off by a couple of other ponzis too. Investing in legitimate cloudmining without even a basic understanding of how mining works is just asking to get burnt.
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Korbman
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January 11, 2015, 12:18:43 AM |
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You know you guys can just ignore Galdur, right? Do that, and the page depth goes from 75 down to 30 worth in actual content. Dude is trolling hard now...
@Galdur -- Your post history suggests you lurk around the forums for something like 12 hours a day (if not more). Take a breath, and go outside. You'll feel much better afterward.
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Chris_Sabian
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January 11, 2015, 01:16:44 AM |
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Well, fortunately I have ignored the help from people that have been telling me to buy and hold BTC for a year now. So chances are that this will work just as well for me as other helpers in this bitcoin mess are concerned.
Well, unfortunately for you, you also ignored those who warned you against "investing" in ponzis that refuse to provide any evidence of legitimacy and got ripped off by pbmining and hashie, and you're just waiting to get ripped off by a couple of other ponzis too. Investing in legitimate cloudmining without even a basic understanding of how mining works is just asking to get burnt. Mabsark has a good record about calling out scams/fraud/ponzi. Kudos to him/her. And galdur just got added to the 'ignore list'
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dmcdad
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January 11, 2015, 03:56:34 AM |
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Galdur: read Satoshi's original paper and take a basic economics class, then come back and see us.
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galdur
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January 11, 2015, 09:39:43 AM Last edit: January 11, 2015, 09:50:17 AM by galdur |
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Well, fortunately I have ignored the help from people that have been telling me to buy and hold BTC for a year now. So chances are that this will work just as well for me as other helpers in this bitcoin mess are concerned.
Well, unfortunately for you, you also ignored those who warned you against "investing" in ponzis that refuse to provide any evidence of legitimacy and got ripped off by pbmining and hashie, and you're just waiting to get ripped off by a couple of other ponzis too. Investing in legitimate cloudmining without even a basic understanding of how mining works is just asking to get burnt. Well, at least I have enough sense to not hold something that has no volume and constantly falls in value. But I´ve actually done very well in cloud mining and trading shit. The amount x I started out with last summer and haven´t added anything to since then now earns 1.3 x per month so I´m good.
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galdur
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January 11, 2015, 09:43:20 AM |
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Well, fortunately I have ignored the help from people that have been telling me to buy and hold BTC for a year now. So chances are that this will work just as well for me as other helpers in this bitcoin mess are concerned.
Well, unfortunately for you, you also ignored those who warned you against "investing" in ponzis that refuse to provide any evidence of legitimacy and got ripped off by pbmining and hashie, and you're just waiting to get ripped off by a couple of other ponzis too. Investing in legitimate cloudmining without even a basic understanding of how mining works is just asking to get burnt. Mabsark has a good record about calling out scams/fraud/ponzi. Kudos to him/her. And galdur just got added to the 'ignore list' I´m just devastated to be ignored by some contentless nobodies on the internet but will have to try to live with it. Myself I have tons of it on ignore so as not to waste too much time going over these threads.
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skuser
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January 11, 2015, 10:08:17 AM |
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AMHASH shares are on the rise (0.00095). I think it will stabilize around .001 like I predicted earlier especially if btc price hits 300 which its on its way.
I'd like to share your optimism but with 20% dividend drop coming in 72 hours this price will be unsustainable at these levels because it would mean almost 6 months roi @skuser I like your site- ie: Live ROI calculations for cloud mining ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) It's handier than http://www.rigwarz.com/ which is not live. I merely use rigwarz as a guide to find companies and get their prices and costs so I can do my own profitability calculations. Would you be able to add a few more popular cloud mining companies to it? For example: - MegaMine - Bitcoin Cloud Services - Genesis Mining - Cloud Mining Website.com - Hashlet Genesis Thanks for ideas, I am currently listing only those who were classified as non-ponzi in Puppet's thread, it's useless to calculate anything on pyramid schemes...Will have a look at those you suggested anyway ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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galdur
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January 11, 2015, 10:10:37 AM Last edit: January 11, 2015, 12:52:04 PM by galdur |
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But anyway, in the unlikely event that you mining experts have any idea about how trading works maybe you can explain why being short what is being mined and traded - is constantly a 100% sure thing and very likely to remain so for a long time to come. ![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fi1213.photobucket.com%2Falbums%2Fcc466%2Fgaldur%2F111.png&t=665&c=LlJWpmoZZgT9-Q) Chances are excellent that you´ll be looking at basically the same chart in another six months. Since most mining is located in China as well as trading of the product I guess the miners are not very long the product. More likely short. It´s probably a mining/dumping cartel over there that systematically milks this thing. Maybe it´s because the mining model is total nonsense. In the real world people don´t usually increase production capacity at an exponential rate the more what is being produced falls in value.
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galdur
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January 11, 2015, 10:51:49 AM |
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I mean, when you´re looking at a perfect inverse correlation between production capacity and the price of product you have to admit that it smacks of some kind of fraud. Otherwise you´re totally delusional.
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galdur
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January 11, 2015, 11:55:52 AM |
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So, any news at all about AmHash4? Two weeks ago it was supposed to be 2-3 weeks away so the issue is pretty imminent now I guess. What is the likely price going to be ? .0008 ? Lower ? Maybe, given the ballooning difficulty and constantly tanking BTC, it would be best to be ahead of the curve and have it at .0005.
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elasticband
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Nighty Night Don't Let The Trolls Bite Nom Nom Nom
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January 11, 2015, 12:06:55 PM |
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So, any news at all about AmHash4? Two weeks ago it was supposed to be 2-3 weeks away so the issue is pretty imminent now I guess. What is the likely price going to be ? .0008 ? Lower ? Maybe, given the ballooning difficulty and constantly tanking BTC, it would be best to be ahead of the curve and have it at .0005.
It won't be lower than AMhash1 ipo minus dividends to date
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galdur
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January 11, 2015, 12:12:37 PM |
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So, any news at all about AmHash4? Two weeks ago it was supposed to be 2-3 weeks away so the issue is pretty imminent now I guess. What is the likely price going to be ? .0008 ? Lower ? Maybe, given the ballooning difficulty and constantly tanking BTC, it would be best to be ahead of the curve and have it at .0005.
It won't be lower than AMhash1 ipo minus dividends to date It has to be priced according to the current and anticipated yield obviously. What do you expect the price to be ?
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twentyseventy
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January 11, 2015, 02:38:05 PM |
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I mean, when you´re looking at a perfect inverse correlation between production capacity and the price of product you have to admit that it smacks of some kind of fraud. Otherwise you´re totally delusional.
Despite the fact that this is hard-boiled trolling, the exponential rise in Bitcoin's difficulty and some of the subsequent price decline can be explained by the run-up to $1200 last fall. As the price spiked up and and up to 10x its SR-Closure value of $90, people saw dollar signs in their eyes. It was then that the true ASIC war began - people decided that, at a block reward of $25,000 or more, they could make a pretty good profit. So they ran to chip designers and manufacturers (both of which are fixed, sunk costs) and put their orders in. I believe that the BTC mining ecosystem was still feeling the effects of this up until just a few months ago. As the price slowly slid down from $1000 to $800 to $600, declining in part due to the lack of constant buying established by Mt. Gox (and later the shock to the BTC ecosystem by its demise), these mining companies with sunk costs had to trudge on and mine at a loss (over their manufacturing costs) just to try to recoup a some of their investment. This becomes a vicious cycle with miners dumping BTC to recoup manufacturing costs and electricity, further driving the price down. I believe that this will start to level off in the next few months. Most of the ASICs that were hastily put into production from Q4 2013 to Q1/Q2 2014 are now out in the wild and further ASIC development has been centered/centralized around a few large players like AM, ST, Bitmain, KNC. These large players, some of whom are not even selling retail anymore (KNC) are now able to self-finance their manufacturing and need only to answer to investors and board members, not customers and the public - they have a much bigger incentive to hold BTC than to sell it immediately on the market if they have enough capital reserved for such a strategy. I do think you are correct that there are some mining farms taking advantage of China's low cost chip design, manufacturing, and miner assembly capabilities to throw up large farms to exclusively generate and sell BTC, but they are not the main driver or mining or BTC 'dumping' at the moment.
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galdur
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January 11, 2015, 03:07:15 PM |
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If the big players milking this nonsensical production model don´t level off production capacity (hashrate up by 125% over the last six months, price of product down 55%, no volume, no interest) then this steady grinding down will continue. It isn´t enough to have fancy mathematics and lofty ideals, it has to be in touch with reality in this world. If it isn´t well then obviously it will be taken apart in the market. Traders typically aren´t emotionally attached to their investments and speculations. They just look for opportunities and exploit them.
The guy making this model clearly wasn´t concerned about exponential functions but hopefully those big miners are. If the hashrate doubles every six months I don´t see much of a future for mining.
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NotLambchop
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January 11, 2015, 03:35:33 PM |
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I mean, when you´re looking at a perfect inverse correlation between production capacity and the price of product you have to admit that it smacks of some kind of fraud. Otherwise you´re totally delusional.
Despite the fact that this is hard-boiled trolling, the exponential rise in Bitcoin's difficulty and some of the subsequent price decline can be explained by the run-up to $1200 last fall. As the price spiked up and and up to 10x its SR-Closure value of $90, people saw dollar signs in their eyes. ... I was told that 1k+ price was mathematically inevitable hyperexponential trend proven by science in colleges? But you say it ain't so?
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galdur
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January 11, 2015, 03:41:13 PM |
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I mean, when you´re looking at a perfect inverse correlation between production capacity and the price of product you have to admit that it smacks of some kind of fraud. Otherwise you´re totally delusional.
Despite the fact that this is hard-boiled trolling, the exponential rise in Bitcoin's difficulty and some of the subsequent price decline can be explained by the run-up to $1200 last fall. As the price spiked up and and up to 10x its SR-Closure value of $90, people saw dollar signs in their eyes. ... I was told that 1k+ price was mathematically inevitable hyperexponential trend proven by science in colleges? But you say it ain't so? Hey, I hope you stay around. Kind of lonely to be the only idiot here that these mining geniuses mock. ![Grin](https://bitcointalk.org/Smileys/default/grin.gif)
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galdur
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January 11, 2015, 04:05:29 PM |
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Back to the coming AmHash 4 and its pricing.
Difficulty +7% in a day or so, BTC at 270 and chronically weak - I think .0008 is absolute top. Anticipating a dividend of 600 fairly soon, maybe it´ll tank more. Maybe they´ll just call off the issue. Too embarrassing to have it 33% cheaper than the one from just a month or so ago.
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