Bitcoin price cannot fall infinitely - page 2.

twiifm

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Quote from: giantdragon on September 18, 2014, 02:58:37 PM

Quote from: kokojie on September 18, 2014, 02:42:45 PM

I don't understand this logic, so they will stop selling and pay their electricity cost out of pocket? which will end up costing them more money out of pocket. No, they will sell Bitcoin at any market price to get at least something back to pay for their hardware and electricity. If anything, dropping price will prompt them to sell even more if they have hoarded some coins, so they could afford to pay their bills.

Miners probably will pay for electricity from own money in hope BTC/$ will ever rise instead of selling bitcoins for pittances.

Where would they get this money from? Bond offering? LOL

antibitcoinconsortium

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well just watch, you'll see just how good it can do just that.
miners are selling to cut their losses..

they have choice sell now and lose 20%, sell tomorrow and lose 30%, sell in a few months lose 95%...
what would you do?
smart people sell now while they still can

Amph

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Quote from: kokojie on September 18, 2014, 02:42:45 PM

Quote from: giantdragon on September 18, 2014, 02:12:57 PM

I don't think BTC/$ will fall a lot below $400 simply because miners will stop selling coins below cost of production. Miners currently provide large percentage of the bitcoins sold on exchanges.

I don't understand this logic, so they will stop selling and pay their electricity cost out of pocket? which will end up costing them more money out of pocket. No, they will sell Bitcoin at any market price to get at least something back to pay for their hardware and electricity. If anything, dropping price will prompt them to sell even more if they have hoarded some coins, so they could afford to pay their bills.

PoW mining expense is the reason the price is dropping.

they made plenty of money already the will use some to buy btc and recover the price

devphp

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Fiat leak due to mining is the culprit.

PoS is the answer.

giantdragon

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Quote from: kokojie on September 18, 2014, 02:42:45 PM

I don't understand this logic, so they will stop selling and pay their electricity cost out of pocket? which will end up costing them more money out of pocket. No, they will sell Bitcoin at any market price to get at least something back to pay for their hardware and electricity. If anything, dropping price will prompt them to sell even more if they have hoarded some coins, so they could afford to pay their bills.

Miners probably will pay for electricity from own money in hope BTC/$ will ever rise instead of selling bitcoins for pittances.

Sevvero

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Activity: 350

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Quote from: kokojie on September 18, 2014, 02:42:45 PM

Quote from: giantdragon on September 18, 2014, 02:12:57 PM

I don't think BTC/$ will fall a lot below $400 simply because miners will stop selling coins below cost of production. Miners currently provide large percentage of the bitcoins sold on exchanges.

I don't understand this logic, so they will stop selling and pay their electricity cost out of pocket? which will end up costing them more money out of pocket. No, they will sell Bitcoin at any market price to get at least something back to pay for their hardware and electricity. If anything, dropping price will prompt them to sell even more if they have hoarded some coins, so they could afford to pay their bills.

PoW mining expense is the reason the price is dropping.

Exactly, some people here are delusional.

kokojie

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Quote from: giantdragon on September 18, 2014, 02:12:57 PM

I don't think BTC/$ will fall a lot below $400 simply because miners will stop selling coins below cost of production. Miners currently provide large percentage of the bitcoins sold on exchanges.

I don't understand this logic, so they will stop selling and pay their electricity cost out of pocket? which will end up costing them more money out of pocket. No, they will sell Bitcoin at any market price to get at least something back to pay for their hardware and electricity. If anything, dropping price will prompt them to sell even more if they have hoarded some coins, so they could afford to pay their bills.

PoW mining expense is the reason the price is dropping.

Sevvero

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Activity: 350

Merit: 255

Quote from: Amph on September 18, 2014, 02:36:37 PM

Quote from: Sevvero on September 18, 2014, 02:32:56 PM

Quote from: Amph on September 18, 2014, 02:32:30 PM

Quote from: Sevvero on September 18, 2014, 02:13:34 PM

Of course it cannot. It will settle at a nice $10.

lol 10, you must be kidding, bitcoin will never be seen below 100 again, miners will stop dumping long before that

Oh ok, sure boyo, sure...just don't come back crying crocodile tears.

i won't, will stop at 350, you will see

Nice delusions!

Amph

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Quote from: Sevvero on September 18, 2014, 02:32:56 PM

Quote from: Amph on September 18, 2014, 02:32:30 PM

Quote from: Sevvero on September 18, 2014, 02:13:34 PM

Of course it cannot. It will settle at a nice $10.

lol 10, you must be kidding, bitcoin will never be seen below 100 again, miners will stop dumping long before that

Oh ok, sure boyo, sure...just don't come back crying crocodile tears.

i won't, will stop at 350, you will see

Sevvero

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Quote from: Amph on September 18, 2014, 02:32:30 PM

Quote from: Sevvero on September 18, 2014, 02:13:34 PM

Of course it cannot. It will settle at a nice $10.

lol 10, you must be kidding, bitcoin will never be seen below 100 again, miners will stop dumping long before that

Oh ok, sure boyo, sure...just don't come back crying crocodile tears.

Amph

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Quote from: Sevvero on September 18, 2014, 02:13:34 PM

Of course it cannot. It will settle at a nice $10.

lol 10, you must be kidding, bitcoin will never be seen below 100 again, miners will stop dumping long before that

spazzdla

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Quote from: jbrnt on September 18, 2014, 02:23:59 PM

I think prices are falling because merchants are selling the coins they received from sales. Some holders are selling because think they can buy back at a lower price. This will not continue for longer. We will see when we hit $400, the historical support support level.

This is why I refuse to "use" my bitcoins..

giantdragon

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Quote from: Sevvero on September 18, 2014, 02:22:07 PM

Quote from: giantdragon on September 18, 2014, 02:21:04 PM

Quote from: Sevvero on September 18, 2014, 02:13:34 PM

Of course it cannot. It will settle at a nice $10.

Nobody, even with "free" electricity, will be able to mine coins at cost below $10 per one!

Well, in that case it will be doomed. Was nice while it lasted

Don't seems that miners turning off their rigs! Wink

jbrnt

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I think prices are falling because merchants are selling the coins they received from sales. Some holders are selling because think they can buy back at a lower price. This will not continue for longer. We will see when we hit $400, the historical support support level.

Sevvero

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Quote from: giantdragon on September 18, 2014, 02:21:04 PM

Quote from: Sevvero on September 18, 2014, 02:13:34 PM

Of course it cannot. It will settle at a nice $10.

Nobody, even with "free" electricity, will be able to mine coins at cost below $10 per one!

Well, in that case it will be doomed. Was nice while it lasted

giantdragon

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Quote from: Sevvero on September 18, 2014, 02:13:34 PM

Of course it cannot. It will settle at a nice $10.

Nobody, even with "free" electricity, will be able to mine coins at cost below $10 per one!

Hunyadi

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☑ ♟ ☐ ♚

There is lots of volume. I think we are finding the bottom pretty soon. I'm a miner and won't sell at these levels.

Sevvero

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Of course it cannot. It will settle at a nice $10.

giantdragon

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I don't think BTC/$ will fall a lot below $400 simply because miners will stop selling coins below cost of production. Miners currently provide large percentage of the bitcoins sold on exchanges.

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