The price of Bitcoin is going down because the price is going down, - page 2.

Broly46

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Quote from: davis196 on February 03, 2019, 07:28:10 AM

Quote from: Broly46 on February 03, 2019, 05:54:47 AM

Nothing goes up in life, dollar value, salary, income, food price, smart phone price, everything going down. The doomsday is near.

The prices of food,smartphones,etc. are going up because the US dollar value is going down. Grin

I can't agree with the statement in the thread's title.The price of bitcoin does down because the btc buyers are less and the btc sellers are more.That's the real reason.We don't need a crypto "guru" to tell us this shit. Grin

Everything goes down with the dollar, the price for tortilla was $2 in 2016 and it is $2 today, it may look like the same, after including the inflation, it is actually going down in value. The same for smart phone which is priced in dollar.

nutildah

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This article was published today:

https://fossbytes.com/bitcoin-mining-costs-now-exceeds-its-worth-jp-morgan/

Quote

In the fourth quarter, the cost of mining a Bitcoin averaged around $4,060 while the trading cost is $3,600. However, there is a varied range for which a Bitcoin can be mined. For example, Chinese miners can get a Bitcoin by spending just $2,400 in the mining process.

Now, instead of just attacking the source and everybody's intelligence, maybe come up with your own numbers and evidence to support them?

The idea that price correlates to mining cost is ludicrous. Well before the price sank below $4,000, you were telling everybody on this board that it would never fall below the cost of mining. You were wrong. You've been wrong for quite some time, and you're wrong now.

Edit: Furthermore, if "new miners" was the reason for the drop in price, why has the difficulty being going _down_ since October? It should be going up!

https://www.blockchain.com/charts/difficulty

nutildah

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Quote from: franky1 on February 04, 2019, 02:10:48 AM

Quote from: nutildah on February 04, 2019, 01:58:39 AM

You're an asshole. What makes it worse is the fact that you're wrong.

well you just continue looking at chart data and think thats all you ned to look at.
while smarter people look at real causations and real events.

but i do find it funny how you made a meme that trend anals(TA) but then you flip flop to then think the price is just based on price
without understanding where peoples common support levels come from

trend anals that only look at the price are the foolish people that ignore technicals.
it really might be worth you looking beyond chart data

Dude. I don't look at chart data, other than its quite obvious BTC was overbought near its ATH. I never said "price is just based on price." You're just pulling stuff out of your ass now.

"Smarter people look at real causations and real events."

You're looking at the wrong ones. Earlier you referenced you've been buying bits throughout last year. That's why you're so incredibly sour right now, because you're obviously sitting on a loss. So your own analysis never helped you.

franky1

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Quote from: ?? on ??

Lets do some High School economics

you have not done much research.
have a nice month

seeing as your comparing bitcoin to paypal shows how little you know
then by you not understanding how mining farms function shows you dont understand their 'survival' methods
you really are stuck in 2 dimensional highschool level theories

it might be worth you researching more and theorising less

coinwizard_

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The price is going down because bitcoin cash split and diluted the community. Looking at the charts we are hovering around the bottom so it's still time to accumulate before the bull run begins

franky1

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Quote from: nutildah on February 04, 2019, 01:58:39 AM

You're an asshole. What makes it worse is the fact that you're wrong.

well you just continue looking at chart data and think thats all you ned to look at.
while smarter people look at real causations and real events.

but i do find it funny how you made a meme that trend anals(TA) but then you flip flop to then think the price is just based on price
without understanding where peoples common support levels come from

trend anals that only look at the price are the foolish people that ignore technicals.
it really might be worth you looking beyond chart data

nutildah

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I still don't know how you can continue to push this narrative after being wrong for so many months in a row.

Quote from: franky1 on February 04, 2019, 01:36:11 AM

1. is not a sudden reaction..

Yeah I guess not because it hasn't happened in 4 months.

Quote from: franky1 on February 04, 2019, 01:36:11 AM

2. the UNDERLYING VALUE is not the same as PRICE

Has nothing to do with this discussion.

Quote from: franky1 on February 04, 2019, 01:36:11 AM

3. the mining dynamic is not a predictor of ATH or sudden movements daily.

OK I agree.

Quote from: franky1 on February 04, 2019, 01:36:11 AM

4. the cost of mining/overtaken profit link just reading the links wording suggests they have no clue*

There's several stories that all come to the same conclusion, because its a very real phenomenon. I understand mining costs vary tremendously from region to region but we're talking about a mass average here.

Quote from: franky1 on February 04, 2019, 01:36:11 AM

5. might be worth you going deper and researching beyond high school level stuff

You're an asshole. What makes it worse is the fact that you're wrong.

franky1

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Quote from: nutildah on February 04, 2019, 01:28:12 AM

Quote from: franky1 on February 03, 2019, 11:20:58 PM

people want to find the cheapest way to obtain bitcoin. either on the market or by mining it.
when its cheap to mine it, the price goes down becasue people mine it, and if profitable they sell some on the market.
when its expensive to mine it, people buy it and the price goes up

I don't know how you can continue to believe in this dynamic. It seems like something out of 2011-12. First of all, most people can't just suddenly decide to take up bitcoin mining. The general public is reliant upon miners who are deeply invested in it and in it for the long term. Second of all, the price has been consistently lower than the average cost to mine it for quite some time now. Most mining operations have been taking a loss for months. BTC isn't going to magically rise because of what's going on with the miners.

https://www.chepicap.com/en/news/4275/the-cost-of-mining-bitcoin-has-overtaken-the-profit.html

If your assertion was correct, BTC would be back above $5,000 by now.

1. is not a sudden reaction..
2. the UNDERLYING VALUE is not the same as PRICE
3. the mining dynamic is not a predictor of ATH or sudden movements daily.
4. the cost of mining/overtaken profit link just reading the links wording suggests they have no clue*
5. might be worth you going deper and researching beyond high school level stuff

*i clicked the link and seen data of 2018. and yet if you compare it to 2019 its actually cheaper to mine in january than it is to min in september 2018.. so might be worth you updating your sources.
tip. not only did hashrate drop in october..(lower electric) but as of christmas, new EFFICIENT miners were released which even further dropped the cost.

nutildah

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Quote from: franky1 on February 03, 2019, 11:20:58 PM

people want to find the cheapest way to obtain bitcoin. either on the market or by mining it.
when its cheap to mine it, the price goes down becasue people mine it, and if profitable they sell some on the market.
when its expensive to mine it, people buy it and the price goes up

I don't know how you can continue to believe in this dynamic. It seems like something out of 2011-12. First of all, most people can't just suddenly decide to take up bitcoin mining. The general public is reliant upon miners who are deeply invested in it and in it for the long term. Second of all, the price has been consistently lower than the average cost to mine it for quite some time now. Most mining operations have been taking a loss for months. BTC isn't going to magically rise because of what's going on with the miners.

https://www.chepicap.com/en/news/4275/the-cost-of-mining-bitcoin-has-overtaken-the-profit.html

If your assertion was correct, BTC would be back above $5,000 by now.

killat

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Bitcoin's price is directly influenced by the demand and offering. As demand decreased a lot compared with late 2017 it was normal to see the correction from 2018.

However, when demand will increase, don't forget that btc's supply is very limited, so the price might go up easily.

nutildah

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Sounds like some pretty heavy duty technical analysis to me (this is the essence of TA: if BTC goes up to this level, that means its going up; if BTC goes down to that level, that means its going down).

franky1

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Quote from: Phinnaeus Gage on February 03, 2019, 01:37:40 PM

The price of Bitcoin is going down because the price is going down

The above is now my new signature. Awesome, dude!

i know you love your satire, but even you been round long enough to know of the dynamics of the market:mining

people want to find the cheapest way to obtain bitcoin. either on the market or by mining it.
when its cheap to mine it, the price goes down becasue people mine it, and if profitable they sell some on the market.
when its expensive to mine it, people buy it and the price goes up

even hal finney knew this back in his day, and it still applies today
yes there is also a speculation layer that plays out temporary changes. but the general long term view of the market:mining dynamic applies

thats why i am not into trent anals that just look at the market price and dont understand the underlying layers of what bitcoin is and utility/function/technology that builds up its value. by saying the price only moves because the price moves is basically saying bitcoin is backed/utilitised by nothing

raidarksword

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High volatility on bitcoin's prices are really depends on market situations right now, based on supply and demand really matters that's why it keep changing from time to time. Nothing to panic when there are drastic changes because bitcoin has already established a great foundation towards the future of payment system and adaptions are in progress.

Dreamchaser21

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Quote from: Broly46 on February 03, 2019, 05:54:47 AM

Nothing goes up in life, dollar value, salary, income, food price, smart phone price, everything going down. The doomsday is near.

Not really, the price of the food is increasing yearly because of the inflation and if there’s a crisis every price will rise and people will panic. But in bitcoin, it seems like the price was already stable on its current level, no more bad news hopefully so we can start to grow again.

otong

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all prices are currently decreasing so drastically, what is an obstacle for us is that prices are getting lower. but even though prices will go down but I still believe that developments will occur in the future

Phinnaeus Gage

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who wouldve fucking thought? the price of bitcoin is going because the price is going down! amazing man, why didnt i think of that? you should get the next nobel prize, man your this generations einstein!!

The price of Bitcoin is going down because the price is going down

The above is now my new signature. Awesome, dude!

coolcoinz

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Quote from: poptok1 on February 03, 2019, 06:21:51 AM

Matt fu*king Damon everywhere xD

It's matt with Arnold's accent Cheesy

Quote from: davis196 on February 03, 2019, 07:28:10 AM

Quote from: Broly46 on February 03, 2019, 05:54:47 AM

Nothing goes up in life, dollar value, salary, income, food price, smart phone price, everything going down. The doomsday is near.

The prices of food,smartphones,etc. are going up because the US dollar value is going down. Grin

I can't agree with the statement in the thread's title.The price of bitcoin does down because the btc buyers are less and the btc sellers are more.That's the real reason.We don't need a crypto "guru" to tell us this shit. Grin

This is an interesting feature of bitcoin. Even when there's the same number of buyers and sellers the price will go down because of constantly increasing supply. So, if you see a period of stability you can be happy, because it means more people are buying.

imapessimist

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The price is going down because not enough real money is being put into it. I wonder why not.

Harlot

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What struck me the most about the video is he showed the part of Joe Rogan skit with Jack Dorsey and Rogan ask if he is considering other cryptos besides Bitcoin, Dorsey simply said "not right now" followed by him stating that he believes Bitcoin will be the native internet currency in the future. If this Cash App becomes successful on introducing normal people to the crypto world through Bitcoin I think this will be a huge leap for the crypto industry itself. Jack Dorsey is really showing support to the industry by introducing Bitcoin through his cash app.

Salauddin1994

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Quote from: sheenshane on February 03, 2019, 09:09:04 AM

I saw the video, that was pretty good the CEO of Twitter supported bitcoin and looking forward what the fundamental of Bitcoin is. He mentioned also that to shut down trading, yes probably he was right. Most likely happen of a scam now is on the trading exchange a lot of news of that and the latest one is Cryptopia exchange hacked.

The price is going up because the price is going up, (Bitcoin have massive adoption and continue spreading). The price of Bitcoin is going down because the price is going down, ( Do panic selling because they want to cut their losses). That's the hardest thing to understand to those people who didn't crypto enthusiasts, greedy people they all quick profit they didn't care about Bitcoin. Yeah, it must be the currency of the internet is Bitcoin.

Yeah, If anything happens, it happens in all but Bitcoin has done the same thing, bad news and wrong decision many people do many things, but due to these mistakes all others have to pay, but it is hoped that if the scam is closed Everything will become normal.

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