I'm glad this is happening so it will finally be over and done with.
I think we will have reached our new ATL since the last ATH within a day or 3.
I think we will have reached our new ATL since the last ATH within a day or 3.
You could be correct that this is going to be over soon (perhaps within a few days), but it remains difficult to be glad about the whole situation.. and we also cannot really rest assured that it is going to be over, either.
It is similar to previous downtrends when posters are rejoicing about falling BTC prices, and they keep rejoicing and the BTC price keeps falling.
After a while, the rejoicing stops as the BTC price continues to fall. At some point, the price stops falling, too.. and I would rather NOT go through all of that. I would rather return to UPPITY, even if the shitty alt coins have to come along with us...but it still seems that even though bitcoins are being shook, the alt coins are not shaking enough... and bearwhales can still smell blood.. and purge and purge and purge... ..
Me thinks that it remains difficult to feel "glad" under such ongoing uncertain circumstances.
Indeed, no reason to feel glad. I wonder, what is the average margin cost for miners at this moment? And how does that fit in the picture of major miners being involved in the Btrash war?
A few days ago, BitMex research had suggested something like $3341 per BTC, and it remains unclear about how they arrived at that number.
https://twitter.com/bitmexresearch?lang=en
I am sure that there is some playing around with BTC hash power, but overall, so far, BTC hashpower has remained pretty stable (and relatively high) through the past few days.
https://www.blockchain.com/charts/hash-rate?timespan=30days
So, they are risking their BTC profits for a war in a only losses quest. Strange guys these miners, would Obelix say.
BTC price movements are not single issue motivated, and so even though playing around with hashpower is a dynamic and a gamble that some miners are willing to play, others are not going to play around with their hashpower for ideological purposes, but instead be motivated by mining in the location that gives them both the most reward and the most future value reward (to the extent that they do not dump some of the coins along the way).
Somebody tell me if they have better information, but it seems that mining power was moving around more last year, during some time period after the bcash fork, but some of those miners may have learned their lesson.. and furthermore, the bitmex research shows that anyone moving their hashpower for bcash, currently, is most likely engaging in such behavior for ideological purposes, and perhaps even erroneous economic considerations (including sunk cost fallacy - which would be attempting to salvage any value that they can out of bcash bags). I doubt that they really believe that they are going to be able to sufficiently unload that shit or that the bcash market is liquid enough to absorb their bcash bags... so their main hope would be to unload bcash slowly enough that no one would notice (good luck with that).
Stupid kid just doesn't get it.
