Topic: are we under attack? (Read 2349 times)
we're starting threads every time we have hunches now?
Your mother is the attack.
are we under attack?
Your mother is under attack 
HA!
The speculator in me thought you were going to say we were under attack due to the stability!
It's killing profits!!! Who the fffuuu is selling and buying to match the attempts to move!!
On the other hand, good for btc, hence good for us all
The speculator in me thought you were going to say we were under attack due to the stability!
It's killing profits!!! Who the fffuuu is selling and buying to match the attempts to move!!
On the other hand, good for btc, hence good for us all
I was talking about the current difficulty and not future projections.
At most , this can tell you what the miners speculate. Increasing the hashrate isn't a matter of hours - it can take weeks or at least days to get another big rig running. so miners respond relatively slow to the market.
I think that speculators have the biggest impact on the current price and not some technical indicator like hashrate.
At most , this can tell you what the miners speculate. Increasing the hashrate isn't a matter of hours - it can take weeks or at least days to get another big rig running. so miners respond relatively slow to the market.
I think that speculators have the biggest impact on the current price and not some technical indicator like hashrate.
but by the time the difficulty updates - this is already a "stale" indicator.
i would change your sentence to:
Another thing is the size of the change, short term changes in mining BTC are more likely to come from a "lucky streak" rather than the hashrate of the entire network jumping by 10% in a few days
i would change your sentence to:
Quote
An increasing difficulty means that more coins were being mined than the previous average.
And I wouldnt call the current situation stable - the price dropped from 6.7 to 5.2 a few days agoAnother thing is the size of the change, short term changes in mining BTC are more likely to come from a "lucky streak" rather than the hashrate of the entire network jumping by 10% in a few days
Future difficulty projections (i.e. increasing/decreasing difficulty) is not a "stale" indicator. It's an indicator that works to gauge current BTC supply, hence my "short term" description. For example, right now the difficulty projection shows that 10% more BTC than normal is being mined during this cycle (right now, not "stale").
I wouldn't call the current situation stable either, but it has "stabilized a bit since the great bubble of 2011." If you had been around 7 months ago, you would not dispute that..
yes costa, that was my original feeling- in fiat currency markets due to its size daily rates rarely change more than a 1 % or so. A change of 10% indicates intervention/crash/etc. I know BTC is relatively smaller but the ratio of % change gave me the impression something was changing faster than normal but we do not supposedly have intervention and crashes like last year were quickly nailed to hacking wallets. I was just looking for causes but none were obvious. maybe its too soon to say what is "normal" so I for one am buying BTC. reg
thanks- thats a useful link i will keep it. it does appear to co-inside with an increase in mining difficulty so that alone could explain it! . reg
Costia got it right, difficulty is related to price, but for the most part it follows the price.
That may be true in the longer term as it indicates a profitable mining scenario, but not in the short term. An increasing difficulty means that more coins are being mined than the previous average. More coins being mined = more supply. More supply = downward pressure resulting in a lower price. This may not have been true in the past, because supply and demand were more "out of whack" than they are now and the market has stabilized a bit since the great bubble of 2011.
i would change your sentence to:
Quote
An increasing difficulty means that more coins were being mined than the previous average.
And I wouldnt call the current situation stable - the price dropped from 6.7 to 5.2 a few days agoAnother thing is the size of the change, short term changes in mining BTC are more likely to come from a "lucky streak" rather than the hashrate of the entire network jumping by 10% in a few days
thanks- thats a useful link i will keep it. it does appear to co-inside with an increase in mining difficulty so that alone could explain it! . reg
Costia got it right, difficulty is related to price, but for the most part it follows the price.
That may be true in the longer term as it indicates a profitable mining scenario, but not in the short term. An increasing difficulty means that more coins are being mined than the previous average. More coins being mined = more supply. More supply = downward pressure resulting in a lower price. This may not have been true in the past, because supply and demand were more "out of whack" than they are now and the market has stabilized a bit since the great bubble of 2011.
no, I haven't found the manipulator threads yet- but I will read them-until then Ive always had a good reasoned from bad bear +1 . reg
You should check out out the economics forums, there are a few good bitcoin centric threads there, should give you some reading material . Even the negative ones are worth reading for the replies at least.Here one that talks about your question.
https://bitcointalksearch.org/topic/prices-cannot-stabilize-58102
no, I haven't found the manipulator threads yet- but I will read them-until then Ive always had a good reasoned from bad bear +1 . reg
You will be disappointed if you are looking an easy simple reason for why it's happening.
Shut it, Bear.There is a simple reason. It’s The Manipulator.
I figured that would be reg's next reply after he found the manipulator threads.
Please remember, bitcoin is not a get rich quick scheme.
You will be disappointed if you are looking an easy simple reason for why it's happening.
Shut it, Bear.There is a simple reason. It’s The Manipulator.
You will be disappointed if you are looking an easy simple reason for why it's happening.
ok that seems reasonable. just looked at another thread that is implying that something called bitcoinia is leveraging the markets. this is the behaviour that gave me the origional "feeling" when looking at the price. but as anyone can do what they want I suppose its wait and see? perhaps it will fail in bitcoin in the same way it failed in the currency markets (they get wiped out and the price rises again) I hope! reg
thanks- thats a useful link i will keep it. it does appear to co-inside with an increase in mining difficulty so that alone could explain it! . reg
Costia got it right, difficulty is related to price, but for the most part it follows the price.
thanks- thats a useful link i will keep it. it does appear to co-inside with an increase in mining difficulty so that alone could explain it! . reg
it goes the other way around in terms of cause and reaction/consequenceBTC price goes up ->
it is more profitable to mine ->
more people mine ->
network hashrate increases ->
difficulty increases
this continues until mining is profitable enough to stay but not profitable enough to join (initial costs etc..)
thanks- thats a useful link i will keep it. it does appear to co-inside with an increase in mining difficulty so that alone could explain it! . reg
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