Topic: The Squeeze is comin! [official thread for panicking] (Read 2321 times)
Last dump before the pump? Sold at 7k to pay for electricity and now I think I'm gonna miss the pump
Took a bit longer but yesterdays pump thanks to sidehack bought me some of my power from PGE.
8k here we come 
Big cashout today, should be the last for a while. So I expect to see an upturn in the market over the weekend.
EDITED:
Witnessed!
Big cashout today, should be the last for a while. So I expect to see an upturn in the market over the weekend.
I always have the solar array to drop back to.
about 13kwatts cost for me is ½ the coins
so 130th is like 65th with no power cost
Most all other mining is now turned off.
about 13kwatts cost for me is ½ the coins
so 130th is like 65th with no power cost
Most all other mining is now turned off.
The opportunistic market jackoffs buying in would be the only ones to benefit, and the rest of us who actually work for a living will keep getting screwed. I'd like to see it back above about $8k and actually hold steady for a while, but stability will only happen when bitcoins are used more as a currency than as a stock. Margin sale profiteers love that volatility for their short-sighted gains, but that cripples confidence in reliable spending power necessary for the long-term economy.
Couldn't agree more than you, since I'm self-employed and practically earning 100% crypto now. I generally don't lose or gain much, since I earn and have to sell regularly/periodically. Last year I'd almost always be selling at some profit from the Bitcoin I'd gain from payments, but this year, I'm almost always selling for a loss. Three consecutive invoices now worth 5-15% less by the time I received payment and are able to use them to pay bills, buy stuff or sell for cash. Don't want to do the numbers but I suspect I might now be approaching net loss.
Not really stopping me from spending BTC, I still believe the economy needs to move, but it is a bit of a bigger wince each time I'm paying for that weekly pizza (figuratively and literally).
I'll let y'all know when to buy in at the bottom.
Cool. I'm saving a couple of big invoices but can't realistically hold them too long so yeah floor anytime this month would be neat
Need to eat and stuff.Maybe it should drop to 3500.
That should knock most miners out.
That should knock most miners out.
That might even tempt me to revisit some alts I ignored last year.
Maybe it should drop to 3500.
That should knock most miners out.
That should knock most miners out.
I think we may see that honestly. Which is why I'm selling most of my btc for now. No point in keeping them since the diff is likely to go down.
Maybe it should drop to 3500.
That should knock most miners out.
That should knock most miners out.
One of my guys here was doing a lot of hand-wringing a couple of weeks ago (when coin was around 8k) and asked me how low I thought it could go. I told him that I didn't think BTC had any chance to get out of this bear market and realize any organic price growth again until there was total capitulation of the interests that invested during the bull run last year. I mean idiots were buying coin with their credits cards and FASA funds for Christs sake. All of last years speculative malinvestment needs to be wiped out before there can be a turn around. I speculated that perhaps it would require a $3000 price level to do that. That's usually how a healthy business cycle re-establishes itself after a big speculative run-up / bubble burst.
Just wake me up when its over.
I sold 0.1btc today to make ends meet. I sold at 6.3k went to sleep, woke up and wtf 5.9k
Maybe it should drop to 3500.
That should knock most miners out.
I sold 0.1btc today to make ends meet. I sold at 6.3k went to sleep, woke up and wtf 5.9k
Piad that big ol' invoice just a bit ago, so normally I'd say we've hit the bottom and y'all should start buying but it occurred to me I'll have to cash out some coins in the next few days for a big PCB purchase or two so the exchange rate might not start to rebound until about Friday. Sorry, the squeeze is still squeezing.
I wasn't here for Gox, only started in 2015 when my friend fomo'd me into mining bitcoin because he needed to offload some s7.
But yea, my luck is pretty bad. I did manage to claw back earnings by trading though so I got that going for me.......which is nice.
And yes, being a Bitcoin miner is very much now becoming like real miners..........we get screwed by big corporation.......yet we do it for some unknown reason.
But yea, my luck is pretty bad. I did manage to claw back earnings by trading though so I got that going for me.......which is nice.
And yes, being a Bitcoin miner is very much now becoming like real miners..........we get screwed by big corporation.......yet we do it for some unknown reason.
Why, is your luck that bad too?
The first time I had to cash out for a big project was February 2014, when I first got started and had zero money. Remember when that Gox bubble burst? Stalled a server supply breakout project for almost a month before I caught a brief spike and sold without losing too much.
I have no interest in deliberately crashing BTC. The opportunistic market jackoffs buying in would be the only ones to benefit, and the rest of us who actually work for a living will keep getting screwed. I'd like to see it back above about $8k and actually hold steady for a while, but stability will only happen when bitcoins are used more as a currency than as a stock. Margin sale profiteers love that volatility for their short-sighted gains, but that cripples confidence in reliable spending power necessary for the long-term economy.
The first time I had to cash out for a big project was February 2014, when I first got started and had zero money. Remember when that Gox bubble burst? Stalled a server supply breakout project for almost a month before I caught a brief spike and sold without losing too much.
I have no interest in deliberately crashing BTC. The opportunistic market jackoffs buying in would be the only ones to benefit, and the rest of us who actually work for a living will keep getting screwed. I'd like to see it back above about $8k and actually hold steady for a while, but stability will only happen when bitcoins are used more as a currency than as a stock. Margin sale profiteers love that volatility for their short-sighted gains, but that cripples confidence in reliable spending power necessary for the long-term economy.
No, because when some miners shut down the difficulty will drop and the remaining miners will get a larger proportional reward, thus retaining profitability. There is no price so low that the system will stop working entirely.
Also, to everyone who's ever thought I was joking when I warned friends that the price was about to tank because I am, as a rule, on the losing end of every market shift, two days ago I was told first of next week I'd have a big invoice to pay in BTC. So expect the price to keep going down until about an hour after that invoice has been paid, and I'll let y'all know when to buy in at the bottom.
Also, to everyone who's ever thought I was joking when I warned friends that the price was about to tank because I am, as a rule, on the losing end of every market shift, two days ago I was told first of next week I'd have a big invoice to pay in BTC. So expect the price to keep going down until about an hour after that invoice has been paid, and I'll let y'all know when to buy in at the bottom.
Hey, if we both sell on the same day we might be able to crash btc to 5k lol
No, because when some miners shut down the difficulty will drop and the remaining miners will get a larger proportional reward, thus retaining profitability. There is no price so low that the system will stop working entirely.
Also, to everyone who's ever thought I was joking when I warned friends that the price was about to tank because I am, as a rule, on the losing end of every market shift, two days ago I was told first of next week I'd have a big invoice to pay in BTC. So expect the price to keep going down until about an hour after that invoice has been paid, and I'll let y'all know when to buy in at the bottom.
Also, to everyone who's ever thought I was joking when I warned friends that the price was about to tank because I am, as a rule, on the losing end of every market shift, two days ago I was told first of next week I'd have a big invoice to pay in BTC. So expect the price to keep going down until about an hour after that invoice has been paid, and I'll let y'all know when to buy in at the bottom.
Do we bounce off or slice through 6k? BTCBTCBTC
Well we know for now.
Do we bounce off or slice through 6k? BTCBTCBTC
If you can afford to drop $150k on gear, you can probably afford to drop another $10k on electric.
Just a couple BTC's anyway, right? What are the probabilities for 1 PH solo?
If you can afford to drop $150k on gear, you can probably afford to drop another $10k on electric.
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