Price drop : bitcoinners happy ?

[SargeR33]

Isn't that the main issue with the bitcoin at the moment? These merchants who immediately sell are quite likely undercutting the market and dragging the price down. If everyone started selling their precious metals and competing for sales, the price will drop. The same thing is happening with oil. Down to $40 a barrel because the US just wants to dump it. What is it doing? Killing economies.

[JerryCurlzzz]

Merchants selling, miners selling. Bitcoin is still profitable to mine with better-than-average chips and cheap electricity. But the inefficient miners are dropping out, and will continue to.

[rikfredsy]

Merchants selling, miners selling. Bitcoin is still profitable to mine with better-than-average chips and cheap electricity. But the inefficient miners are dropping out, and will continue to.

If miners stop mining difficully drop also ?

[crazyearner]

Merchants selling, miners selling. Bitcoin is still profitable to mine with better-than-average chips and cheap electricity. But the inefficient miners are dropping out, and will continue to.

If miners stop mining difficully drop also ?

Yes if the network hash rate reduces in speed it will drop down by x amount like it did a few times in Dec 2014 last year but soon went back up as more went online. In all honestly BTC mining is end of days now unless you got some serious TH power and free energy. I remember grabbing one of the first Avalon units and making 2 BTC per day with that with 60GH speeds now you need like 35TH to 40TH to even produce 1BTC per day due to the amount of  hashing power that is come online and is currently going on. By mid 2015 people are going to need at least 100TH basic to make anything and the power that is going to be eaten up by that is going to be stupid amounts. I have close to 1TH of power that's sitting collect dust now because it is not worth it to mine based on mining to power use to cost to result. The only time my units come online now is if a new alt coin comes along and I mine it at the beginning and after a few days soon turn off again due to some massive miners all jumping on it.

[Furio]

Merchants selling, miners selling. Bitcoin is still profitable to mine with better-than-average chips and cheap electricity. But the inefficient miners are dropping out, and will continue to.

If miners stop mining difficully drop also ?

Yes if the network hash rate reduces in speed it will drop down by x amount like it did a few times in Dec 2014 last year but soon went back up as more went online. In all honestly BTC mining is end of days now unless you got some serious TH power and free energy. I remember grabbing one of the first Avalon units and making 2 BTC per day with that with 60GH speeds now you need like 35TH to 40TH to even produce 1BTC per day due to the amount of  hashing power that is come online and is currently going on. By mid 2015 people are going to need at least 100TH basic to make anything and the power that is going to be eaten up by that is going to be stupid amounts. I have close to 1TH of power that's sitting collect dust now because it is not worth it to mine based on mining to power use to cost to result. The only time my units come online now is if a new alt coin comes along and I mine it at the beginning and after a few days soon turn off again due to some massive miners all jumping on it.

Then you didn't replace your HW fast enough, SP20 or antmiuners s5 still produce profit, even with this low exchange rate... It's all about power to gh/s ratio. And you''re predictions of 30 ths to produce a fair amount is a bit strong, with 5 th/s you still rake in a decent amount of bitcoin, it's all about expectations

[Shattered]

I dont think under any circumstances would miners be happy about the price dropping.
Thats like being happy after your boss calls you into his office on Monday morning and tells you from now on you will be making only 80% of your currently salary.

[Troonetpt]

I am not happy the price drop.
Actually, the price risen up will attract more people buy in.
It's better for the development of bitcoin.

[bitbunnny]

The low price could also atract people to buy. They'll speculate to sell it on higher price later. What comes down, must come up and the other way around.

[conteaza]

I am not happy the price drop.
Actually, the price risen up will attract more people buy in.
It's better for the development of bitcoin.

I can't see any relationship between price and development :/

[izanagi narukami]

As a bitcoin holder, I kindda sad for the price recently.

But If you sure that bitcoin will raise again, then it is the right time to buy since it's kindda low.

Just make a good speculation to make a good profit

[Yeezus]

I am not happy the price drop.
Actually, the price risen up will attract more people buy in.
It's better for the development of bitcoin.

I can't see any relationship between price and development :/

He means more people getting into bitcoin because of the low price is better for bitcoin's growth aka development.

[rikfredsy]

As a bitcoin holder, I kindda sad for the price recently.

But If you sure that bitcoin will raise again, then it is the right time to buy since it's kindda low.

Just make a good speculation to make a good profit

Who know bitcoin price can drop to 10 $ or raise 1000 $ anytime . Bitcoin is free

[tianjiang545]

I'm not happy, because I bought at a price of $ 370, now the price is getting down

[5awyeR]

Merchants selling, miners selling. Bitcoin is still profitable to mine with better-than-average chips and cheap electricity. But the inefficient miners are dropping out, and will continue to.

If miners stop mining difficully drop also ?

Yes if the network hash rate reduces in speed it will drop down by x amount like it did a few times in Dec 2014 last year but soon went back up as more went online. In all honestly BTC mining is end of days now unless you got some serious TH power and free energy. I remember grabbing one of the first Avalon units and making 2 BTC per day with that with 60GH speeds now you need like 35TH to 40TH to even produce 1BTC per day due to the amount of  hashing power that is come online and is currently going on. By mid 2015 people are going to need at least 100TH basic to make anything and the power that is going to be eaten up by that is going to be stupid amounts. I have close to 1TH of power that's sitting collect dust now because it is not worth it to mine based on mining to power use to cost to result. The only time my units come online now is if a new alt coin comes along and I mine it at the beginning and after a few days soon turn off again due to some massive miners all jumping on it.

Then you didn't replace your HW fast enough, SP20 or antmiuners s5 still produce profit, even with this low exchange rate... It's all about power to gh/s ratio. And you''re predictions of 30 ths to produce a fair amount is a bit strong, with 5 th/s you still rake in a decent amount of bitcoin, it's all about expectations

These calculations are for tactics,
1. mining BTC
2. immediately sell BTC
in such a situation mining is becoming less profitable. If someone does not pay bills from the immediately sale BTC of a long time he not turn off miners, it seems to me

[manselr]

The weak holders who aren't going to be here long term or bought too high are being driven out, this will mean something interesting is going to happen to the price in the next couple of months.

I wonder how the lucky ass early investors that made a killing like rpietila are feeling right now. Will they panic out before its too late and we do double digits? It must suck so hard being a super early investor and not having sold all at 1k.

[manselr]

Merchants selling, miners selling. Bitcoin is still profitable to mine with better-than-average chips and cheap electricity. But the inefficient miners are dropping out, and will continue to.

If miners stop mining difficully drop also ?

Yes if the network hash rate reduces in speed it will drop down by x amount like it did a few times in Dec 2014 last year but soon went back up as more went online. In all honestly BTC mining is end of days now unless you got some serious TH power and free energy. I remember grabbing one of the first Avalon units and making 2 BTC per day with that with 60GH speeds now you need like 35TH to 40TH to even produce 1BTC per day due to the amount of  hashing power that is come online and is currently going on. By mid 2015 people are going to need at least 100TH basic to make anything and the power that is going to be eaten up by that is going to be stupid amounts. I have close to 1TH of power that's sitting collect dust now because it is not worth it to mine based on mining to power use to cost to result. The only time my units come online now is if a new alt coin comes along and I mine it at the beginning and after a few days soon turn off again due to some massive miners all jumping on it.

Then you didn't replace your HW fast enough, SP20 or antmiuners s5 still produce profit, even with this low exchange rate... It's all about power to gh/s ratio. And you''re predictions of 30 ths to produce a fair amount is a bit strong, with 5 th/s you still rake in a decent amount of bitcoin, it's all about expectations

These calculations are for tactics,
1. mining BTC
2. immediately sell BTC
in such a situation mining is becoming less profitable. If someone does not pay bills from the immediately sale BTC of a long time he not turn off miners, it seems to me

Not only miners are selling inmediately, but basically everyone accepting Bitcoins that is moving legit amounts of money with their business (ie Overstock) are converting at market price inmediately. This is.. well, not good for the price. I wonder if Microsoft are doing the exact same thing.

[rikfredsy]

Price now killed no one want this except buyers ?

[Foxpup]

I wonder how the lucky ass early investors that made a killing like rpietila are feeling right now. Will they panic out before its too late and we do double digits? It must suck so hard being a super early investor and not having sold all at 1k.

We're feeling fantastic. We won't panic; if we go to double digits, we'll just keep on buying those cheap coins. Using the money we made by selling above $1k. Luck, my ass.

[derpinheimer]

I wonder how the lucky ass early investors that made a killing like rpietila are feeling right now. Will they panic out before its too late and we do double digits? It must suck so hard being a super early investor and not having sold all at 1k.

We're feeling fantastic. We won't panic; if we go to double digits, we'll just keep on buying those cheap coins. Using the money we made by selling above $1k. Luck, my ass.

[chentron]

Hello all people
this is my first post expecting not offend nobody.
In my view point:
price is not the problem for people who want enter on bitcoin world. The problem for me is speculators on market.
I decided in october to buy my first bitcoin, and continue to buy in this last months with long term view point and expecting to use on real word to buy things.
The medium cost for all my amount i got is $335, now $218, so I have a BTC keept that i dont want/can utilize because if i do i will lose money.
The future for bitcoin must be stability if it want to get in our real lives.
Imagine you go to the gas station and today gas cost 3$ and tomorrow cost 4$, and past $2.
It introduce a anxiety state in your life that nobody want.
If you are a new arrived on bitcoin you want stability if you are going to put your money there.
The final purpose of bitcoin and the victory will be to substitute the FIAT money, being really free.
If We all are in speculators hands ... not good thing.
If you people are being happy on low BTC rate now, because you expect to make business selling high in the future, you are not the better BTC evangelists, and could be better you get out of this world with all the speculators out there.
BTC need to be stable with a rate that can keep miners doing it work... essential for BTC support.


:::::::::::::::
free electricity  
... that doesnt exist ... and is not sustainable for long time unless they are robbing the electricity