Get ready for incoming crashes

[waaat?]

The 3600 coins a day inflation does not necessarily have a great deal of effect upon the price in practice. Some of the largest miners do not actually have to sell their coins at all as they have very large VC funding rounds under their belts. Inflation is simply a nice solid reason to blame price weakness. In a similar way when the price rises and the bull market resumes in a few months there will be a reason cited then, too.

The bitcoin price is unrelated to mining costs or coin inflation (block reward).

Moar Bullshit! Please serve me moar bullshit!

[1713941338]

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[1713941338]

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[1713941338]

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[NotHatinJustTrollin]

The bitcoin price is unrelated to mining costs or coin inflation (block reward).

Wow dude, just wow.
You are insane.

[stonerider]

It's the weekend beginning. We are at $207 (BFX). Let the crashes begin!!! I think we won't crash as big as recently, but min-crashes are incoming. The question is how fast can we recover?

By Monday, I say we'll be seeing $150.

We did crash to about $190 level over the weekend; however, we DID recover to over $210 currently. I was wrong to speculate $150 by Monday. I got carried away, after saying "mini-crashes" were going to happen.

Now the question is, "Will $210 hold this week?"

I'd say we will slowly decline to $200 by Friday, January 23, 2015.

How many times do you have to be wrong to stop posting this crap? Do you really think anyone cares what you think?

Or i guess it's just trolls playing with numbers. With 50/50 probability out of 100trolls one of them has to correctly predict up/down movement 7 times in a row. Then you get a following and then...profit  
Out of 100 trolls 50/50 chances on correctly guessing up down prediction
1 - 50 right
2 - 25 right
3 - 12 right
4 - 6 right
5 - 3 right
6 - 2 right
7 - 1 right

why you mad, bro?

[inca]

The bitcoin price is unrelated to mining costs or coin inflation (block reward).

Wow dude, just wow.
You are insane.

Demonstrate a relationship. I'll hold my breath.

Edit: shouldn't be much of a challenge for an intellectual giant of your standing lambtroll.

[thompete]

The bitcoin price is unrelated to mining costs or coin inflation (block reward).

Wow dude, just wow.
You are insane.

Its actually realted to a large level. 3600 coins are generated from mining and can be dumped daily. If halving happens, then that dump would decrease. So in a way, price fall will slow down, and possible rise will happen.

[inca]

The bitcoin price is unrelated to mining costs or coin inflation (block reward).

Wow dude, just wow.
You are insane.

Its actually realted to a large level. 3600 coins are generated from mining and can be dumped daily. If halving happens, then that dump would decrease. So in a way, price fall will slow down, and possible rise will happen.

Well how do you account for the price rising as inflation has fallen since 2009?

I'll say it again. The bitcoin price is not related to the cost of bitcoin mining.

[waaat?]

Well how do you account for the price rising as inflation has fallen since 2009?

I'll say it again. The bitcoin price is not related to the cost of bitcoin mining.

Repeating a false statement over and over again will not make it right...

The price is set by supply and demand - sounds incredible for a noob, but is actual fact.

[stonerider]

I don't know. From what I've seen, there's been attempts at manipulation at every turn in bitcoin trading. Only about 1% of the bitcoin users own over 90% of the coins ever mined. These early adopters and whales have been dropping the price all last year and big time this year so far. They have a vested interest in doing this. By selling off their early coins, they realize 1000% or better profit; at the same time, they can depress the price, buy low & sell high principle at work, rinse and repeat. Rich get richer and poor get poorer. If you are new to bitcoins, be very careful, don't be a bag-holder. Newbies at this point will never get rich off bitcoins. The train has left the stations a long time ago. You risk being a bag-holder at this point. Early adopters and whales have all the coins and money at this time, and they are greedy pigs, they want more. Noobs are warned, do not buy into bitcoin at this time, go buy silver or gold but not bitcoins.

[xmasdobo]

The bitcoin price is unrelated to mining costs or coin inflation (block reward).

Wow dude, just wow.
You are insane.

Nice nickname there. The problem is I dont know if you are trolling or hating.

[Arv1e]

The bitcoin price is unrelated to mining costs or coin inflation (block reward).

Wow dude, just wow.
You are insane.

Its actually realted to a large level. 3600 coins are generated from mining and can be dumped daily. If halving happens, then that dump would decrease. So in a way, price fall will slow down, and possible rise will happen.

Well how do you account for the price rising as inflation has fallen since 2009?

I'll say it again. The bitcoin price is not related to the cost of bitcoin mining.


Inca is correct. There is a relationship but it is exceptionally small and to help the Noob from looking a total clown 3600/13,000,000 equals the increase in supply so thats like the effect of a running tap into a reservoir!

Just to add, if miners elect to "turn off" their programes then there wil be less in the pool to solve the maths problem. This being the case the time to solve will rise above the 10 minute target time. Should this happen then the system will reduce the difficulty of the maths problem to compensate.. So mining isnt a major issue.

What Inca probably wishes to say is stop commenting on something you dont understand as the current BTC market is so small that it is purely driven by sentiment.

Majority of coins are held as long term investment. Each day the price drops, mainly from panicky fools who dont understand markets and BTC technology so think  BTC will crash to nothing, then more people are buying and storing for the long term. The rest are being traded by smart arse traders who will make money irrespective of the market falling or rising. They just need volatility.

If you really understood markets and basic maths then you would apply one to the other and understand that the current levels of trading i.e. thin is the main reason for the price dropping...

To summarise, mining has little, or no effect on current price fluctuation. Its purely sentiment!

[aztecminer]

3600 mined coins a day = 25200 bitcoins mined a week

25200 mined coins a week = 1310400 bitcoins mined a year

we are mining over one million bitcoins a year atm.

that seems like substantial amount to me when consider we only ever going to mine 21 million coins.

[DaRude]

It's the weekend beginning. We are at $207 (BFX). Let the crashes begin!!! I think we won't crash as big as recently, but min-crashes are incoming. The question is how fast can we recover?

By Monday, I say we'll be seeing $150.

We did crash to about $190 level over the weekend; however, we DID recover to over $210 currently. I was wrong to speculate $150 by Monday. I got carried away, after saying "mini-crashes" were going to happen.

Now the question is, "Will $210 hold this week?"

I'd say we will slowly decline to $200 by Friday, January 23, 2015.

How many times do you have to be wrong to stop posting this crap? Do you really think anyone cares what you think?

Or i guess it's just trolls playing with numbers. With 50/50 probability out of 100trolls one of them has to correctly predict up/down movement 7 times in a row. Then you get a following and then...profit  
Out of 100 trolls 50/50 chances on correctly guessing up down prediction
1 - 50 right
2 - 25 right
3 - 12 right
4 - 6 right
5 - 3 right
6 - 2 right
7 - 1 right

why you mad, bro?

Cause you promised me $150 coins so i leveraged shorted at $200  what is this world coming to when i can't trust random internet person with my investments?

3600 mined coins a day = 25200 bitcoins mined a week

25200 mined coins a week = 1310400 bitcoins mined a year

we are mining over one million bitcoins a year atm.

that seems like substantial amount to me when consider we only ever going to mine 21 million coins.

Are you intentionally leaving out the detail where that'll only hold out true for about a year?
https://en.bitcoin.it/wiki/Controlled_supply

[stonerider]

^^^^^^^
Don't be so flippant. If you really shorted at $200, you'd have made some money at some point over the weekend. So, stop whining. Price did dip, so why are you still so mad? If you don't like my post, stop reading it, go wank somewhere else.

[NotHatinJustTrollin]

Well how do you account for the price rising as inflation has fallen since 2009?

Maybe because the price was ridiculously lower so that the USD VALUE of the coins mined a day was ridiculously smaller as well?

This is basic math.

Ps: i'm not lambchop

[bitcoinvest]

you do think we have incoming crashes?

did you spend any of your time reading all the news like
https://www.cryptocoinsnews.com/bitcoin-remittance-services-indonesia-save-migrant-workers-374-million/
https://www.cryptocoinsnews.com/new-york-stock-exchange-former-citigroup-ceo-invest-coinbase/
 etc..

did you calculated the next bitcoin difficulty going down and you speak about incoming crashes?

excuse me but this is like someone enters a house and shakes the lamp and tells the other "earthquake"!!! move out of the house....

of course he stays in and grabs everything he can

got it?

[stonerider]

^^^^^^
I am a short- and mid-term bear, and am a long-term bull, definitely neither a permabear nor a permabull.

Go troll somewhere else.

[inca]

Inca is correct. There is a relationship but it is exceptionally small and to help the Noob from looking a total clown 3600/13,000,000 equals the increase in supply so thats like the effect of a running tap into a reservoir!

Just to add, if miners elect to "turn off" their programes then there wil be less in the pool to solve the maths problem. This being the case the time to solve will rise above the 10 minute target time. Should this happen then the system will reduce the difficulty of the maths problem to compensate.. So mining isnt a major issue.

What Inca probably wishes to say is stop commenting on something you dont understand as the current BTC market is so small that it is purely driven by sentiment.

Majority of coins are held as long term investment. Each day the price drops, mainly from panicky fools who dont understand markets and BTC technology so think  BTC will crash to nothing, then more people are buying and storing for the long term. The rest are being traded by smart arse traders who will make money irrespective of the market falling or rising. They just need volatility.

If you really understood markets and basic maths then you would apply one to the other and understand that the current levels of trading i.e. thin is the main reason for the price dropping...

To summarise, mining has little, or no effect on current price fluctuation. Its purely sentiment!

I think you said it better than I could..

[stonerider]

The purpose of my post is to warn those who are new to cryptocurrency. Do Not Buy Bitcoins or Any Other Cryptocurrencies At This Point in Time. There's a huge amount of market manipulation going on currently. Do Not Buy Bitcoins or Mining Hardware At This Time. Hold Your Cash, Invest in Gold/Silver/Other Commodities, Never in Cryptocurrency.

[supermine]

It's the weekend beginning. We are at $207 (BFX). Let the crashes begin!!! I think we won't crash as big as recently, but min-crashes are incoming. The question is how fast can we recover?

By Monday, I say we'll be seeing $150.

You were wrong. That is were pure guessing gets you: Broke.

[bitcoinvest]

^^^^^^
I am a short- and mid-term bear, and am a long-term bull, definitely neither a permabear nor a permabull.

Go troll somewhere else.

is this for my post please?