Topic: Let's Be Honest. We Are Waiting for $100/BTC to buy - page 103. (Read 199005 times)

I guess mining bitcoin take so long time but you can't get some profit due to the expenses of your equipments? How can it will remain profitable in a long run? With longer mining your cost will become bigger and bigger and I dont think you can cover it with your profit from mining

I disagree with that. I'm not so much familiar with the bitcoin mining as to declare some sweeping assertions and final judgments, but AFAIK, the mining difficulty decreases when miners fall off. So, in a sense, the system is automatically load-balanced (to keep it going), and therefore mining will always remain profitable in the long run, at least to some miners...

Until the number of coins to mine is exhausted, of course

The ASIC manufacturers make tons from selling hardware and mine for themselves so high chance that there will be an "action" there because standing and watching the price fall down will be the last option they do. If it is become unprofittable then they will have to ditch all of the existing hardware which means a double dip loss for them . Chinese isnt the type to let their business go down without any action to prevent that though

By the word "action" , that would be a purely speculation from mine . Given the fact that chinese isnt the type to let their business go down without any action and change it to the other, there will probably be an "action". "Action" in this case isnt solely from the manufacturers alone, could be from colleagues, investor or the other because with such an enourmous reputation of one of the world's largest ASIC manufacturer then they will probably has a wide network of investor or such.


The price has never dropped to a point where mining become totally unprofittable. The last drop to below $200 still on the mark where mining is barely profittable in some places but if it drop to $100 or below it, mining will not be profittable at all anymore (unless you manage to get a free electricity or else) . So at this point, high chance that the number people jumping off the ship will be bigger and also that it could mark as the start of heavy sell pressure constantly

If a business becomes unprofitable, it usually closes its operations (and switches to something else), or just goes bust if it is not lucky enough. If these ASIC manufacturers are not exchanges (which they are not), they won't have enough funds to build "big buy wall". And I guess they wouldn't really want that even if they were or had enough cash...

To sum it up, I am not expecting deliberate "big buy walls", and yet less so from ASIC manufacturers


It doesn't matter if many were hurt (in fact, you said few while meaning many, as I got it). I guess yet more had been hurt (mildly speaking) when the price collapsed from over $1,100 to mere $250, and so what? Today's price is above $250, thereby it doesn't count a fuck if someone jumped off the ship when it dropped to $160...

Market never lies

What I meant as their own business is that I am actually referring not to the chinese exchanger but rather to the ASIC manufacturer because with the price going as low as $100, mining wont be sufficient anymore with the current miners. They will be forced into either trying to find a sustainable chips that allow miners to get some profit even if the price is as low as X or that sustain the price by giving up some action like big buy wall and try to manipulate the price

If it hits $100, I doubt that there will be an euphoric buys because even the last pressure from January 2015 that drove the price below $200 has left a scar to few people as most people have been dumping alot, jumping the ship and saying that  BTC is dead.
The sell pressure of that time is huge and it will be much more if it reach $100 marks and it could actually drive the price to be dirt cheap (worst case possible scenario) and alot of people could be jumping off the ship

yeah it's risky, and they actually don't have any interest in doing it if they roi'd with their miners, but if they have still of investments to cover, they might try as a last chance to save their ass

but for big farm it should not be the case, because they cna roin on  any new equipments , easily enough with the other old miners they have

But the exchanges are the first to profit from wild volatility, which includes hitting that important mark, right? Nothing is more damaging to them than the price stuck at a certain level for weeks. During big price moves the volume traded increases exponentially, and so do their profits...

If Bitcoin hits $100, the volume should grow tremendously. Panic sells will come and go along with euphoric buys, a speculator's paradise

Purely a speculation of mine because basically letting the price of BTC to go through below $100 is like killing their own entire business so I speculate there will be an action to prevent this thing to happen because once we hit that mark, there will be alot more sell pressure that will hammer down the price to dirt cheap . The fact is that chinese is pretty good in manipulating is also another reason I speculate on this as there are low chance that we might pass below $100 or nearing that limit though

Yes I am but i think it's highly unlikely if we follow the current trends

could be, yes. but for that to happen something extraordinary like bitcoin being tradable for everyone on wallstreet must happen. can't see bitcoin reach $10k without wallstreet.

This can be done if the price is not falling with big volumes of bitcoins being sold and the market sentiment is not risk-off overall. Otherwise they will just throw the money down the drain. Don't forget they will have to spend dollars, not bitcoins, which they might not have...

Are they suicides?

starting an up trend reaction, if they can really buy a tons of coins, the same way whale manipulate the market, not much else they can do

after all willy bot has been successful in this completely by creating fake walls all over the place

I'm curious how early adopters or ASIC companies (or whoever, for that matter) can prevent the price of Bitcoin from falling? Okay, they may decide to buy up the coins that the rest of the world decides to get rid of (for whatever reason), and in the end they are left with all the bitcoins mined hitherto...

And what are they going to do with them?

This is a delusion i'd say. Most early adopters have cashed them out during the peak of the price which was $1200 or atleast some still kept their BTC because they believe in it that it will rise up after X years .
It will not be the early adopters but it will be the chinese because having BTC under $100 is pretty much killing all ASIC companies which most of them originated from China so high chances that they will prevent this from happening since they are in controls of the price . Manipulation, bulish and suchs mostly comes from the chinese exchanger first though

Preev showed $270 while bitstamp showed $260 and btc-e showed $255 all at the same time.
It was moving around too much this morning for anyone to get a firm price. All thanks to the Greece crysis. It should be stable by Monday when they tell their citizen what is going to happen to their economy.

I thought it is around $255 now.

I dont think it will b down such level its currently above 300$ level

It could reach 10k next five years.....

"Get burned hard" usually refers to those who bought at $1000/BTC (or at $690, wtf). If you just didn't buy at the right time and missed the train, then you are hardly "burned hard" (pardon the pun). Though you are right in a sense, it doesn't matter at which price you bought as long as you stay in profit...

The "let's wait for this ideal price in my mind" guys will get burned hard once the train picks pace and it seems is already happening now. If you are here long term it doesn't matter at all if you buy at 100 or if you buy at 220, what matters is having a decent stack now that it's still possible to own entire units of a Bitcoin without being a Winklevoss.