Topic: How bad can it get? - page 4. (Read 1834 times)

20k is not the bottom yet, this is just starting, it might look like is the bottom, every bearrun crashes btc lower than the cost to mine 1 btc, so how much cost to mine 1 btc? in may 2021 cost 7k to 11k as per this website https://minerdaily.com/2021/how-much-does-it-cost-to-mine-a-bitcoin-update-may-2021/ at moment still around that, so expect bottom to be around that.

"In summary, it currently costs between $7,000-$11,000 USD to mine a bitcoin. "

I have any graphic cards that haven't made me 70% of my ROI but I don't worry myself, I used money that I don't need to build those mining rigs and I have money that I can use to buy coins on the way down, if you are like me you have nothing to worry about, bear market is a blessing.

Pretty much hurt, that's what's coming.  I mean profitability is going to just plummet, the choice is to sell or hold on for the next run because you won't be able to run your hardware at any kind of profit in a bear.  But when things turn everyone flocks back to hardware.  Happened in every run.  This should he no different.  But be forewarned you will be tested during this bear for sure.  Good luck

I had an order to buy some BTC back at the 200 WMA, I think it was something like $22222. First I assumed it was the bottom but it clearly is approaching $20K very fast.

With the way that ETH went straight thru it’s old ATH I have a feeling that Bitcoin might also. Seems there are no buyers at all. Crazy that it was over $30K just a few days ago.

Wonder what Wednesday will bring with the fed news.

Maybe i'll sell one real asset and buy, not now but only if saylor sold into oblivion/rage quit hehe. You don't want to be an exit liquidity for saylor.

"MicroStrategy’s Michael Saylor Wanted People to Mortgage Their Houses and “Buy Bitcoin,” but the Company Itself Is Now About To Face a Margin Call".

Look at this, https://wccftech.com/microstrategy-michael-saylor-wanted-people-to-mortgage-their-houses-and-buy-bitcoin-but-the-company-itself-is-now-about-to-face-a-margin-call/

"As we’ve noted a number of times in our posts, a typical bear market for Bitcoin sees its price crash around 80 percent relative to the preceding all-time high. It is for this reason that we expect Bitcoin to bottom somewhere between $15,000 and $20,000, provided that the trough coincides with a flush in the S&P 500 index towards the $3,400 price level. Given the existing correlation regime between US equities and Bitcoin, one can’t bottom without the other."

That Michael Saylor was always a scammer and a troll, anyway this is not bear market yet.

I guess those bitcoins he bought for 40k,50k,60k and 65k will have to sell them for 20k and lower hehe. That is how it works, they have not sold around 60k but trust me they will sell for 20k or lower hehe

Tron will soon be in trouble too https://www.coindesk.com/markets/2022/06/13/trons-stablecoin-peg-to-dollar-wobbles-justin-sun-swears-to-deploy-2b-to-prop-up/ , all scamcoins.

Celsius was another scam 7 usd last year and now 20 cents https://www.theverge.com/2022/6/13/23165611/bitcoin-ethereum-crypto-price-drop-celsius

Solana another scam, https://u.today/solana-downtime-series-continues-network-faces-serious-issues-again

Interesting things happen when bear market is upon us then you see the meaning behind scamcoins, most devs of those scamcoins are running away with the money forever hehe

Prices of 2nd hand 3080's are starting to get better hehehe..hell 

It's amazing how many fake stable usd scammers have created in this cycle. It's like if USDT was not enough scam already hehe, scammers had to go on and create more billion dollar fake scamcoins out of nowhere. The only usd stablecoin I believe is usdc and nothing else.

If you have a 4g rx 570/580 then is already at negative profit, a gtx 1070 is giving 10 cents at best, an rtx 3070 which is sold where I live for 800 usd yet is giving $0.60 cents per day, roi of 1351 days and that is using $0.10 per kwh and that electricity price is hard to find these days and this will get worse ehhe, You miners out there use the moment and sell as fast as possible your gpus before is too late, gpu prices are still good to sell.

https://whattomine.com/coins/151-eth-ethash?hr=60.0&p=130.0&fee=0.0&cost=0.1&cost_currency=USD&hcost=900&span_br=1h&span_d=24&commit=Calculate

ETH 1162 usd at lowest since january 2021 now and still going down, fasten your seatbelts trolls, this is going to hehell. I'm sure there will be a bulltrap here very soon, taking it very high and then crashing to hehell again.

Which fake USD will crash next?

USDN, USDD and FEI is looking weak

Scammers create this in order to create a scam market and rob sheeps and look what happened, defi and tokens are other things that crash eth a lot too, it cant be helped, gameover to eth, now it might crash just like 2018, 17 times instead of only 6 - 9 times that I had projected, meaning the worse case scenario, eth at 300 usd possible now as bottom.

stETH seem to be another Luna..

I was not expecting a crash this fast, overnight btc crashed from 29k to 23k now, that is insane, is a lot more than I thought it would be and still no bulltrap, that means a btc below 10k is possible to hit that cme gap of 9600 usd before going up again, maybe my prophecy will happen again. Yeah negative profit is closer and closer for 60mhs on eth, we had that negative profit for 30mhs ethash for months 2018 - 2019, now maybe is going to be 60mhs, not even 30mhs. Eth right now is 1180 usd, is crashing too fast and this is not the bottom yet. It's funny, most have not sold at 4k but they are selling now and will sell much much lower hehe, that is what market price is.

I am not selling anything myself,maybe buy the Rtx 3060 or 3060 ti as the most efficient cards energy consumption wise and I hope to see a lot of people selling their GPU-s and moving away for good from mining.The difficulty is still over 14 P for Ethereum mining which shows it is not regulating to what we are predicting but if our predictions are true then I think it should go down exponentially during time giving the miners who will stay mining much bigger daily rewards.I am looking forward to this,I am confident I will be the last miner shutting anything down  whatever happens.

I have a feeling that this week when we check eBay, Craigslist, Facebook marketplace we are going to see a large supply of GPUs hitting the market.

With POS approaching closely and ETH taking a huge hit and trading under the 2017 ATH I think many people are going to call it quits earlier to get the most out of their GPUs.

Happens every time whenever a bear market just becomes an even bigger bear market.

This is why I decided to sell my video cards slowly one-by-one over the next 1-2 weeks in order to get higher prices.

I advise you to look at the telegram channels of miners where they sell video cards. There are a lot of offers to sell video cards at low prices. Therefore, now it is very difficult to profitably sell a mining farm. You can sell video cards separately, but this is very long.

Right now, under the worst possible outcome, ETH PoS is still roll out but delay for a few months than the initial estimate of ETH foundation that the merge will be in Aug/Sep. So at least, miners need to planing accordingly to that: stop buying/building new rigs, start slowly reducing the numbers of your mining rigs and change it to ETH so you'll have a stake in the new PoS system.

I'm more optimistic than this. The crash of Crypto is complicated. Common sense tells us a decentralized non fiat coin should weather an economic downturn... but instead all crypto has taken a dive along with the bad inflation numbers, declining stock market etc. Its the fear factor. Investors can't predict what Crypto will do so there has simply been a lot of profit taking... and a resistance to keep investing or buying. The big buyers are moving into less risky assets like bonds, munis, physical assets. Crypto prices will rebound but the question is when? Confidence needs to be regained. I think it will be slow and come in the form of POS finally happening and other altcoins emerging to replace ETH POS. All of which combined will be worth way less than what ETH alone was worth on POS at the end of 2021. If Vitalik and company understood economics and ETH's actual customers (he forgets he has a product and customers) they never would have taken this difficulty bomb force POW miners to die off and switch to POS method. A smarter way to build ETH on POS would have allowed for a transparent dual path course where ETH POW would remain but have a side by side entry of ETH POS. Then the confidence in ETH POW would not have to be destroyed like it has been. You get the benefit of the mining community, continue to offer value to them in gas fees and create additional wealth with ETH POS rather than destroy the former wealth of ETH POW. The stakers of 2021 have now lost 2/3rds of their investment. Does anyone like their investments shrinking by 2/3rds? The Vitalik and company elites tried to deceive the world with their fake propaganda claiming altruism around energy consumption when the reality was always greed for the devs. Align with some large investors to take more for themselves is all POS really is. The worst part about the sham is they have literally made the ETH ecosystem less resilient, less capable, and less viable to build business systems with. Will a fully implemented POS in 2024 be better than what ETH POW was in late 2021? Maybe, but we won't see ETH worth $4800K until 2025. This was a huge mistake that destroyed the wealth of many many people.

I'm rooting for the crypto community to succeed... but trying to consolidate wealth in the hands of a few all while pretending to be doing so for the planet has been exposed for what it is. It is a fraud and always has been. Free markets really do work... and Vitalik and company are learning that every day with the current suck prices of ETH.

Well 2 cents for eth per mh works for me, but do we bail in Sept and do pos or do we delay till dec-feb?

place your bets.

"mAnIPuLaTiOn"