Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 20648.

BlindMayorBitcorn

legendary

Activity: 1260

Merit: 1116

Quote from: tarmi on October 17, 2015, 03:05:17 PM

Quote from: BlindMayorBitcorn on October 17, 2015, 03:03:29 PM

My name is Randy, and I'm a member of MMM Global Bitcoin.

"Helping more people."

sounds like any bulltard here.

...

when will the panic start? 220?

Weekly update: https://www.facebook.com/MMMGlobalRB/videos/vl.1036580956373009/406671159525960/?type=1&theater

tl;dr: "Hello, here is the news. Everything is wonderful in the Republic of Bitcoin. "

ImI

legendary

Activity: 1946

Merit: 1019

nice discussion we got going here. Grin

no i don't know exactly were freshly mined coins are going. nobody knows. everybody has just hear-and-say informations.

i personally did some business some time ago with mining farm folks and my impression was they gave a shit about bitcoin. privately they held no more than a handful of coins maybe. for them it was just a better kind of investment as into high-yield-bonds or something.

but i accept that bitfury may keep them, quite possible.

nevertheless the market has to absorb 1 mioUS$ everyday, thats a fucking lot and halving will kick some ass.

tarmi

legendary

Activity: 1232

Merit: 1011

Quote from: BlindMayorBitcorn on October 17, 2015, 03:03:29 PM

My name is Randy, and I'm a member of MMM Global Bitcoin.

"Helping more people."

sounds like any bulltard here.

...

when will the panic start? 220?

BlindMayorBitcorn

legendary

Activity: 1260

Merit: 1116

My name is Randy, and I'm a member of MMM Global Bitcoin.

"Helping more people."

https://www.facebook.com/MMMGlobalRB/videos/vb.399778376881905/419502614909481/?type=2&theater

brg444

hero member

Activity: 644

Merit: 504

Bitcoin replaces central, not commercial, banks

Quote from: yefi on October 17, 2015, 02:49:54 PM

Quote from: brg444 on October 17, 2015, 02:10:24 PM

Because the largest solo miner, for example, has publicly said they don't sell their bitcoins.

Source?

http://www.coindesk.com/bitcoin-miner-bitfury-raises-20-million/

Quote

Vavilov told CoinDesk that it decided not to tap its bitcoin reserves as it remains bullish on the long-term value of bitcoin.

"We believe in the long-term perspective [the price of bitcoin] will grow and we decided to not to sell [our bitcoin] at such a low price," Vavilov added.

ChartBuddy

legendary

Activity: 2380

Merit: 1823

1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

Coin

Explanation

phoenix1

hero member

Activity: 798

Merit: 1000

Quote from: BlindMayorBitcorn on October 17, 2015, 02:50:38 PM

Quote from: BlindMayorBitcorn on October 16, 2015, 11:19:46 PM

Quote from: JorgeStolfi on October 16, 2015, 10:14:42 PM

Quote from: BlindMayorBitcorn on October 16, 2015, 05:43:33 PM

I read something about a vast Russian MMM ponzi currently operating in South Africa buying up Bitcoins. Any news?

Quote

Bobby Lee, CEO of Chinese exchange BTCC, told CoinDesk his platform has seen a significant volume increase, though he dismissed much of his competitors' volume as "artificial".

Those behind the volume, he said, are not traders but consumers sucked into a Russian ponzi scheme, MMM.

"We have posted warnings on our site and on our social media to warn users to be careful, but they have been coming to our exchange and buying out like crazy," he said, adding:

"This time it's not speculative trading but based on them getting sucked into this ecosystem."

https://twitter.com/YourBTCC/status/654273706013798401?lang=en

"South Africa" must include a many of the poorest and least educated people there.

Ah, bitcoin -- bringing First World financial ruin to the unbanked in the Third World...

May you all go broke, and burn in hell...

Hehe. Thanks for the cross-post, Professor.

https://www.reddit.com/r/Buttcoin/comments/3p2mot/butts_allegedly_being_used_by_sergei_mavrodis/

*Waves* Hi Butters!

Found this: https://www.facebook.com/MMMGlobalRB

This run may not end well Embarrassed

Ouch!!

Quote

Moderators REQUIRED.
Responsibilities: moderating MMM Extra web-tasks
Working hours: 8 hours a day
Salary: 150$ a month

That's abot 60 cents an hour. Any traders need a little extra income ?

Quote

20,695 likes
49 visits

Is that even possible ??

reddit thread calling for action to advertise and stop this :

https://www.reddit.com/r/Bitcoin/comments/3p4kuf/mmm_global_republic_of_bitcoin/

ALL exchanges should be posting a warning about this to there customers if they have any sense of decency. Fair play to Bobby Lee for calling it out already

brg444

hero member

Activity: 644

Merit: 504

Bitcoin replaces central, not commercial, banks

Quote from: Meuh6879 on October 17, 2015, 02:51:54 PM

solominer = 1 BTC per month ... Roll Eyes

so, they don't sell Grin

Bifury mines a couple blocks on average per day

JayJuanGee

legendary

Activity: 3920

Merit: 11299

Self-Custody is a right. Say no to"Non-custodial"

Quote from: ImI on October 17, 2015, 02:13:21 PM

Quote from: brg444 on October 17, 2015, 02:10:24 PM

Quote from: ImI on October 17, 2015, 02:07:12 PM

Quote from: brg444 on October 17, 2015, 02:06:29 PM

Quote from: ImI on October 17, 2015, 02:04:06 PM

Quote from: Lauda on October 17, 2015, 01:57:12 PM

People really need to stop being ignorant and childish. Every increase in price is not a 'pump' and every decrease is not a 'dump'.

Quote from: ImI on October 17, 2015, 01:45:56 PM

miners have to unload their 3600 coins per day at some point...

Yes.

miners attitude has changed over the years. todays miners are not bitcoin-enthusiasts anymore, they sell their coins as fast as they can. therefore the halving will be a big fucking kick in their ass.

Demonstrably false.

why?

Because the largest solo miner, for example, has publicly said they don't sell their bitcoins.

There are numerous other instances where this has been proven wrong.

and there are numerous other instances where this has been proven right. i remember knc selling their shit as soon as possible. i also remember a documentary about some chinese farm. they were also selling as fast as they could. giving a shit about what the actual underlying of their business was.

edit: i would love to do some analyzing here, were the fresh coins go. but so far i had no luck finding that out.

Well, if you do NOT know then why are you spreading FUD to suggest that 3600 BTC is being dumped on the market every day.

Most likely there is considerable variance, and such variance may even depending upon ability to HODl the BTC and or expectations of future price, etc etc

yolalanda

newbie

Activity: 56

Merit: 0

Quote from: Fatman3001 on October 17, 2015, 02:43:37 PM

Quote from: tarmi on October 17, 2015, 02:21:31 PM

how do they pay electricity if they don't sell their coins? 15 % of the network today is like few MW a month.

The entire network probably pulls around 250MW. At 4 cents per kw/h that's $240,000 per day in electricity. Which would be 1000 coins a day when the price is $240.

Now at $263 that's 912.5 coins. At $300 that's 800 coins.

Now that's just electricity, but if you assume that a large part of the mining community wants to keep as many coins as possible until prices improve you might expect the supply of coins to tighten as the price moves up.

Could you offer TL;DR of how you've arrived at 250MW? Not doubting you, just wondering what that number is meant to represent.

As far as miners wishing to sell coins when they're worth less and hold on to them once they're worth more? Seems a bit counterintuitive, can you walk me through your reasoning?

Meuh6879

legendary

Activity: 1512

Merit: 1012

solominer = 1 BTC per month ... Roll Eyes

so, they don't sell Grin

BlindMayorBitcorn

legendary

Activity: 1260

Merit: 1116

Quote from: BlindMayorBitcorn on October 16, 2015, 11:19:46 PM

Quote from: JorgeStolfi on October 16, 2015, 10:14:42 PM

Quote from: BlindMayorBitcorn on October 16, 2015, 05:43:33 PM

I read something about a vast Russian MMM ponzi currently operating in South Africa buying up Bitcoins. Any news?

Quote

Bobby Lee, CEO of Chinese exchange BTCC, told CoinDesk his platform has seen a significant volume increase, though he dismissed much of his competitors' volume as "artificial".

Those behind the volume, he said, are not traders but consumers sucked into a Russian ponzi scheme, MMM.

"We have posted warnings on our site and on our social media to warn users to be careful, but they have been coming to our exchange and buying out like crazy," he said, adding:

"This time it's not speculative trading but based on them getting sucked into this ecosystem."

https://twitter.com/YourBTCC/status/654273706013798401?lang=en

"South Africa" must include a many of the poorest and least educated people there.

Ah, bitcoin -- bringing First World financial ruin to the unbanked in the Third World...

May you all go broke, and burn in hell...

Hehe. Thanks for the cross-post, Professor.

https://www.reddit.com/r/Buttcoin/comments/3p2mot/butts_allegedly_being_used_by_sergei_mavrodis/

*Waves* Hi Butters!

Found this: https://www.facebook.com/MMMGlobalRB

This run may not end well Embarrassed

yefi

legendary

Activity: 2842

Merit: 1511

Quote from: brg444 on October 17, 2015, 02:10:24 PM

Because the largest solo miner, for example, has publicly said they don't sell their bitcoins.

Source?

Fatman3001

legendary

Activity: 1554

Merit: 1014

Make Bitcoin glow with ENIAC

Quote from: tarmi on October 17, 2015, 02:21:31 PM

how do they pay electricity if they don't sell their coins? 15 % of the network today is like few MW a month.

The entire network probably pulls around 250MW. At 4 cents per kw/h that's $240,000 per day in electricity. Which would be 1000 coins a day when the price is $240.

Now at $263 that's 912.5 coins. At $300 that's 800 coins.

Now that's just electricity, but if you assume that a large part of the mining community wants to keep as many coins as possible until prices improve, you might expect the supply of coins to tighten as the price moves up.

brg444

hero member

Activity: 644

Merit: 504

Bitcoin replaces central, not commercial, banks

Quote from: ImI on October 17, 2015, 02:13:21 PM

Quote from: brg444 on October 17, 2015, 02:10:24 PM

Quote from: ImI on October 17, 2015, 02:07:12 PM

Quote from: brg444 on October 17, 2015, 02:06:29 PM

Quote from: ImI on October 17, 2015, 02:04:06 PM

Quote from: Lauda on October 17, 2015, 01:57:12 PM

People really need to stop being ignorant and childish. Every increase in price is not a 'pump' and every decrease is not a 'dump'.

Quote from: ImI on October 17, 2015, 01:45:56 PM

miners have to unload their 3600 coins per day at some point...

Yes.

miners attitude has changed over the years. todays miners are not bitcoin-enthusiasts anymore, they sell their coins as fast as they can. therefore the halving will be a big fucking kick in their ass.

Demonstrably false.

why?

Because the largest solo miner, for example, has publicly said they don't sell their bitcoins.

There are numerous other instances where this has been proven wrong.

and there are numerous other instances where this has been proven right. i remember knc selling their shit as soon as possible. i also remember a documentary about some chinese farm. they were also selling as fast as they could. giving a shit about what the actual underlying of their business was.

edit: i would love to do some analyzing here, were the fresh coins go. but so far i had no luck finding that out.

I'm convinced KNC is not selling all of their coins.

natewelt

sr. member

Activity: 252

Merit: 250

Quote from: natewelt on October 17, 2015, 01:29:56 PM

Looks like we might be in for a retrace from $273 on Stamp. In technical analysis, logic dictates a retest of the breakout area which is the upper trend line in this case. If that doesn't hold then we will likely go back into the channel. Either way, things look bullish unless we fall below the channel.

260-265 seems like a great spot to load up on some more (depending on how quick, if any, pullback occurs), but trade at your own risk. Only time will tell....

That was quick. Currently in my buy zone of 260-265.

Stamp bid wall is firming up. I don't expect staying @ 263 for much longer.

brg444

hero member

Activity: 644

Merit: 504

Bitcoin replaces central, not commercial, banks

Quote from: tarmi on October 17, 2015, 02:21:31 PM

how do they pay the electricity if they don't sell their coins? 15 % of the network today is like few MW a month.

The entity I'm referring to is Bitfury

1. They're already wealthy people.
2. They have loads of VC money
3. They used to make what is likely to be ridiculous amounts of profits selling mining gear.

tarmi

legendary

Activity: 1232

Merit: 1011

Quote from: dloghwak on October 17, 2015, 02:22:38 PM

Quote from: tarmi on October 17, 2015, 02:21:31 PM

how do they pay the electricity if they don't sell their coins? 15 % of the network today is like few MW a month.

Who says they have to sell all coins to cover the electricity costs?

yes, the rest is sold for profit.

dloghwak

sr. member

Activity: 290

Merit: 250

Quote from: tarmi on October 17, 2015, 02:21:31 PM

how do they pay the electricity if they don't sell their coins? 15 % of the network today is like few MW a month.

Who says they have to sell all coins to cover the electricity costs?

tarmi

legendary

Activity: 1232

Merit: 1011

how do they pay electricity if they don't sell their coins? 15 % of the network today is like few MW a month.

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