Price drop : bitcoinners happy ?

[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.

Why so negative? Are you jealous?

[1715575281]

1715575281

[1715575281]

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[tianjiang545]

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.

http://cdn.someecards.com/someecards/usercards/1336103922552_3680828.png

Why so negative? Are you jealous?

this is life, where there is pleasure there must be sadness
life can not only with pleasure, not fair
so we should hve positive thinking

[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

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.

you're right, it made me wonder just how shops or other institution receiving payments at BTC settle wearing the measures. When investing in the stock market once you earn, once you lose, but exchanging real goods or services for BTC with such fluctuations courses is more hardcore than the russian roulette game.

[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 ?

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.

you're right, it made me wonder just how shops or other institution receiving payments at BTC settle wearing the measures. When investing in the stock market once you earn, once you lose, but exchanging real goods or services for BTC with such fluctuations courses is more hardcore than the russian roulette game.

Everything will not come easy you should wait btc , this is just a bad crash and we will see better price in the next months

[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

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.

you're right, it made me wonder just how shops or other institution receiving payments at BTC settle wearing the measures. When investing in the stock market once you earn, once you lose, but exchanging real goods or services for BTC with such fluctuations courses is more hardcore than the russian roulette game.

Everything will not come easy you should wait btc , this is just a bad crash and we will see better price in the next months

I think this is a plan formed by some organizations and governments....

[rikfredsy]

You forgot at the Top Banks , they all hate bitcoin , if they know how they can work with bitcoin
they will not fight it  . One day they will and we will see the bigest prices ever

[Petpowder]

I think there is nothing to worry about. Some loose some win anyway 

[Nobitcoin]

I'm happy because all the bitcoins I lost gambling means the loss wasn't so big.

[rikfredsy]

I'm happy because all the bitcoins I lost gambling means the loss wasn't so big.

Haha and who sold their bitcoin 2013 for 5 $ are now happy ?

[Coinshot]

Obviously not happy. But it represents good buying opportunity and I am busy getting any funds which I can spare.
It will take time to break out but it will be worth the wait.

[grendel25]

Not happy and I wish the price will go up.  I have no idea what impact the news has on btc.  It's just unpredictable to me.  I'm sure supply/demand/difficulty all factor in but if things generate more demand then it can be explosive really fast. 

[AnswerQuestion]

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.

Well the problem is that not everyone was able to sell at the highs. As it should be very well known, hindsight is 20/20 and most people probably did not have the forsight to be able to sell when the price was at 1k+

[funbitcoins]

I'm happy because all the bitcoins I lost gambling means the loss wasn't so big.

Haha and who sold their bitcoin 2013 for 5 $ are now happy ?

Yes they are, because all the bitcoins they sold means the price difference is getting smaller.

[dothebeats]

Low bitcoin price in USD means a great time to buy for faithful bitcoiners. They believe that the price may soon soar up and because of the low prices as of the current time frame, they'll have a nice profit.

[Hazir]

I'm happy because all the bitcoins I lost gambling means the loss wasn't so big.

Haha and who sold their bitcoin 2013 for 5 $ are now happy ?

Yes they are, because all the bitcoins they sold means the price difference is getting smaller.

Bitcoin is not stable currency. I know that. It was silly to thought that it will only maintain its value or go up. People who sold their coins in the early stage are truly unfortunate I think. But people who bought bitcoin for 400$ and now are selling it for 200$ are really fucked imo.

[dothebeats]

I'm happy because all the bitcoins I lost gambling means the loss wasn't so big.

Haha and who sold their bitcoin 2013 for 5 $ are now happy ?

Yes they are, because all the bitcoins they sold means the price difference is getting smaller.

Bitcoin is not stable currency. I know that. It was silly to thought that it will only maintain its value or go up. People who sold their coins in the early stage are truly unfortunate I think. But people who bought bitcoin for 400$ and now are selling it for 200$ are really fucked imo.

Yup. Fucked, indeed. I don't know why people nowadays dive into something that they don't really understand with a knowledge that they may gain something very nice in it. Greed consumes a person whole, that's why those dudes who bought in at $400-$500 are truly wrecked by the current prices.

[rikfredsy]

Now we are on the edge of the mountain anytime price could drop anytime 

[lastlove9091]

Now we are on the edge of the mountain anytime price could drop anytime 

T.T when i'm online and check it bitstamp... price drop.. and second online.... price drop again... why??

[poisenrang]

Hello all ,
Why people are happy about the prices drop
I ask a miner he said that he is happy too why ? his profile will drop also

I think that when the price drops miners get more bitcoin then they used to when the price was high.

[jwcastle]

I saw two things happen recently:
1. A big increase in difficulty
2. Exchange rates dropping

What this means:
1. It costs more to mine
2. Mines get less fiat for their BTC

At some point it is going to level off, where a large percentage of miners decide it is no longer profitable to mine (we already see this with cex.io/ghash.io). Another large percentage of miners who are still able to mine for a small profit probably because of cheap electricity (we see this with that  large Unknown miner). Over time, the exchange value for BTC will become stable. In my opinion the exchange value will drop to around $100-$150 before that happens. The up & down swings are making too many people nervous, especially large investors.