Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 18002. (Read 26630383 times)

Turn my back for two seconds and 300+ coin market order on BFX.  Now $1032.  

Huobi 7367 US$1060.

That's hilarious!  I'm not across the detail of Corda enough but suspect anyone on that ledger is taking horrible counterparty risk due to lack of transparency.  Which may be part of the reason a number of banks have pulled out.

And probably will remain so for a while yet, or until it is obvious to even the most ardent opposer that it will come to pass this way, whether they like it or not (which is irrelevant btw)
Something about a permissionless distributed ledger (let's call it that) in that the permissionless part don't give s shit if you like it or not.. or if you like the name or label..etc.etc.

Read a brilliant tweet in recent weeks, can't seem to find it now, so again paraphrasing:

Bitcoin was invented because banks didn't trust one another.
Then they went and built R3 to prove it!

I'm a legal miner..the IRS can find me on coinbase etc I don't care.

As to costs..I figured it out a couple months ago and btc would have to dump to like 201.50 or some such per btc for me to start losing cash.

As to BTC for equipment ...the around 2750 mh of miners I got this year...have ROI'd already..I started with 100 btc in July ..took a loan out..bet on BTC going up
and now I'm at 100.07 btc again...so.....from this point on (so far) I'm making 1900 a month yet..that is profit...less the electric from 2013 till july 2015 (was cash)
and the cash I paid for the orig knc 550gh jupiter 7,131.80 and the 10,131.80 for the orig titan...all else is paid off and did not count psu's etc. So it comes out to
for my current 100.07 btc (or was yesterday) to $25,050 usd invested yet...rest is paid roi'd ...3200mh mining 13200 watts 10c kwh ...so....I think it is 1900 a month
LTC now...

so from this point on...should I mine the DEBT I have left down...or should I hold/hoard? above the 100 BTC floor I had before I got the 7 knc titans this last year?

again don't care IRS has my sights on coinbase etc...that is why I have a CPA..

as to openess.......its been a strange trip.....got to vent someplace or I could subtitle the trip: Don't do what I've done........in many,many cases

$1029 on BFX.  267 coins to go. 

332 coins to 1030 on BFX

1028 - 509 coins to 1030.

While Chinese exchanges are consolidating, hopefully before another (probably last) push, the western ones are at last trying to catch up.

$1025 on BFX.  Now less than 700 coins on the ramp to $1030.  This shit is making me nervous it's going up too fast!  And more fiat to hit the exchanges in USA in a few hours I expect. 

Hi. I work with financial institutions and Bitcoin is still a dirty word to them. I'm not supporting that point of view - just saying what I am seeing.  Also the banks are hell bent on building their own alt-coins.  They just haven't figured out that no one will trust a private ledger.  You can thank Mike Hearn for that one.  The R3 / Corda technical white paper was released about a month ago.

Mere buzzwords..so they can blather on about bitcoin without actually mentioning that dirty word..'bitcoin'...

This whole blockchain not bitcoin meme is a load of hot air, you do know that right?

You cannot have a "blockchain" or "distributed ledger technology" without a native token, everyone here knows this, right?

How are you going to make entries into your distributed ledger? With Cats?? Or just by magic??

Can't have one without the other, simple as. So, they can call it whatever they like, all while trying to avoid using certain words but they're only fooling themselves.

Or wilfully trying to delude themselves...or, they just actually don't effing get it.

Andreas Antonopolous made a nice analogy..I'm paraphrasing here:

Horse and cart is the existing technology...
Someone invents a motorcar!

'Blockchain not bitcoin' minded people say: Wow.. we really like this pnematic tyre technology you guys have come up with and want to adapt this for our horse and carts. But we really don't see any potential for the motorcar as a whole.. we are only interested in hte underlying technology of the pneumatic tyres!  

Back on topic: There is no word yet on a possible ETF decision date. Some commentators believing the SEC could kick it down the road as long as possible. Other voices reckon it will happen soon.
The most recent news, are that COIN ETF got a logo, back at start of Dec. and the twins were again 'talking up' bitcoin, also early Dec.

EDIT: Beaten to it.. !

http://www.coindesk.com/bitcoin-etf-anticipation-winklevoss-trust-deadline/

Deciphering some of the gobble-de-gook and confused ramblings in this article suggests there is one 'deadline' at 180 days after filing (around Jan. 14th) and another more definite 'deadline' at 240 days (around March 14th).

ATH in crosshairs.

SEC should have a decision in March according to:
http://moneymorning.com/2016/11/08/a-winklevoss-bitcoin-etf-guide-for-investors/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+moneymorning%2FjOLe+(Money+Morning)

Your various divisions and categorization of expenses are a bit confusing for me, and I am not sure are you really accounting for all the costs?  You do seem to be saying that you bought some items with BTC and other items with dollars, but in the end, what are the total costs?

Unlike you, I don't really like to disclose particulars about how many BTC I own, but I don't mind talking in terms of percentages and averages... or even hypotheticals...

I count all BTC related costs towards my total cost per BTC, including some that I lost on Bitfinex (I have some rough calculations regarding the value of the BFX coins) and some that I lost through one of my remote trades using Venmo (which was actually between 1.5 and 5 BTC.. hahahahaha), and I have some financing related costs (when I was trying to balance out various accounts, I had suffered some finance charges), and various fees related to transactions, yet even when I calculate all of my various BTC related costs, my average cost per BTC is currently running at about $418... but if I sell some or buy some BTC, my actual amount invested could go up or down $10.. but my average cost per BTC has been floating between $418 and $430 for the past month or so...


Anyhow, are you saying that your overall costs per BTC are a bit more than $250 per BTC? or am I missing something?  I always thought that in recent times, that in the long run it would be more profitable to buy the BTC rather than investing in equipment, electricity, and various associated mining costs.  But if you are averaging a bit over $250 per BTC, then the more power to you.... although buying some of the BTC outright in late 2013 would have been less than $250, except maybe the quantity that you would have gotten would have been less than spending on the equipment?

Have you done a comparison of how many BTC you would have gotten by buying directly and compare to your mining and to see which one has a lower cost per BTC?  Not that you can do anything about it right now.. but if you are only paying electricity at the moment, then maybe your average cost per BTC is continuing to come down, no?

I don't know about an ETF.  I do know that blockchain and distributed ledger technology is finally getting people's attention in mainstream banks.  It's like someone just flipped a switch in the past 3 - 6 months.

I think they are gonna kick down the road for another 2 years. It will take more in the 'financial sector' imho to yell they want it first, before it will move imho. Just saying
how the banking word works imho.

hope I'm wrong

Anybody keeping track of ETF proceedings? When is the next deadline for SEC release of latest round of excuses?

I have a sneaky feeling there may be some insider news behind some of this market action ... and there's nothing more insider than govt. agents leaking and front-running rulings that favour financial players.

We're at ~7300
ATH is 8000

So, about 700 to go, right?

yeah i used to sign my msgs (KNC the no ROI miner) when I just had the one at full boat price of $10,131.80 in Nov 2014...boy was I wrong

I figure I maybe can mine another 10 BTC but I take your point....so what is the diff really if BTC goes to 5k each and a guy was to take 10 off for profits and you have 100 btc left.

That is what I'm thinking now. With all the electric I ate up till JULY 2016 (6.5k) from start oct 18th 2013 with knc jupiter. and 10,131.80 in original Titan and 7,131.80 in orig
knc jupiter (ah my baby 53 btc out of that before doorstop) I'm at 3200mh scrypt now all the rest of my 9 Titans are paid off etc etc..

anyway mining my elec back and then say the Jupiter and then say the orig titan would go a long way..much more impressive to say you have 100 btc at 0 bucks then right now
me with 3150mh and 100 btc at $25,050 usd invested (since July 2016 paid elec out of coin)

so 110-115 btc say with 25k debt vs say 100 btc no debt...still mining 2 btc a month maybe I should like 'mine my debt down'

also as soon as I sell some..the price of BTC will triple a win for you guys

but all them nice toys....coming out ...with blinking led's etc...so tempting...but yeah should probably punt and mine my debt down....but 25k for 100 btc now and 2 btc a month
yet an't looking too shabby from my 'depressed 210 btc years of 2014 etc) groan