Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 21879.

Wings1987

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Quote from: Fatman3001 on April 28, 2015, 09:32:36 AM

Dump failed

Starting to think $220 is to bears what $300 was to bulls

Kind of surprised

I think a lot of you forget that $220 or so is mining cost for a lot of operations. It would be surprising to me if we went lower for a long period of time. If you truly believe that is the case you should not be invested. Everyone remember how much hash rate dropped off the network in the Jan 15 drop to $166? If we had stayed at those levels and the hash stayed shut down there would have been major network problems for weeks. Block times/transaction times would have been a disaster. Watch the media coverage if that happens. It will not be good for anyone. Bear or Bull.

And before anyone argues that the Chinese miners have costs lower than that. ASIC development and deployment has slowed to a crawl compared to most of last year. If there really was money to be made in China wouldn't we be seeing huge farms coming online? It wouldn't take much to push the rest of the world out of mining if that were the case.

LFC_Bitcoin

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Quote from: Norway on April 28, 2015, 09:37:38 AM

Quote from: Fatman3001 on April 28, 2015, 09:23:19 AM

Quote from: Norway on April 28, 2015, 09:19:39 AM

I have to say, I really like that bid at GBTC that came this morning. 5,000 coins at 350 USD/BTC. About half the volume of BTC-e spike, but at the same time it's just their first bid...

You have to wonder how many is sitting on the fence waiting to see where the price will go when trading commences.

Yeah! Silbert is talking tomorrow on the last day of the huge 3 day bitcoin conference in NY. Would be embarrasing if nobody puts up an ask before that moment.

Yes, somebody needs to ask him wtf is going on.

luckygenough56

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fuck this coin !

JorgeStolfi

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Quote from: micalith on April 28, 2015, 08:54:08 AM

some Chinese electricity company must surely realise soon that accepting and holding bitcoin would be a ridiculously successful strategy. Or is that banned?

Apart from the Chinese government's ban on using bitcoin as currency, the utilities (like all major merchants that "accept bitcoin", everywhere) will want to be paid in the national currency, promptly. They certainly do not want to invest in bitcoins; not even Overstock is doing that anymore. ASIC manufacturers and workers will want yuan, too. So the bitcoins corresponding to those expenses will have to be sold at the exchanges anyway.

The Chinese government presumably would be happier if the miners sold their bitcoins in the "Western" exchanges, thus adding to the effective Chinese foreign trade balance.

EDIT: Since we are on the topic, albeit off-topic: it was on news sites recently that some ~~New England~~ Mississippi electricity company is suing John Garza's GAWminers for a ~300'000 $ unpaid electricity bill.

EDIT2: fixed Mississippi not New England.

stackoverflow

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back to previous channel, all that lousy btc-e move did is replenish momentum indicators for another shot at sub 220!

Wandererfromthenorth

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hdbuck

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Norway

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Quote from: Fatman3001 on April 28, 2015, 09:23:19 AM

Quote from: Norway on April 28, 2015, 09:19:39 AM

I have to say, I really like that bid at GBTC that came this morning. 5,000 coins at 350 USD/BTC. About half the volume of BTC-e spike, but at the same time it's just their first bid...

You have to wonder how many is sitting on the fence waiting to see where the price will go when trading commences.

Yeah! Silbert is talking tomorrow on the last day of the huge 3 day bitcoin conference in NY. Would be embarrasing if nobody puts up an ask before that moment. Wink

Fatman3001

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Dump failed

Starting to think $220 is to bears what $300 was to bulls

Kind of surprised

JorgeStolfi

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Quote from: BlindMayorBitcorn on April 28, 2015, 08:41:09 AM

You know what I wonder: with all these guys with all this money at stake, you'd think they would pay some anti-NLC types to defend the reputation of their investment. Why aren't there more everything is rainbows trolls?

They already support the major bitcoin "news" sites and conferences, pay for advertorials on WSJ and Forbes, buy time on Bloomberg and CNN, hire lobbyists, and contribute to politicians. Why should they waste time with forums, where there are already plenty of "anti-NLC types" doing the job for free, out of self-interest?

A month or two ago there was an announcement in some bitcoin news site of several bitcoin companies pooling their resources and hiring a major marketing company to "improve the public image of bitcoin".

Fatman3001

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Quote from: tarmi on April 28, 2015, 09:23:45 AM

Quote from: Fatman3001 on April 28, 2015, 09:21:16 AM

Quote from: tarmi on April 28, 2015, 08:49:10 AM

Quote from: BlindMayorBitcorn on April 28, 2015, 08:41:09 AM

You know what I wonder: with all these guys with all this money at stake, you'd think they would pay some anti-NLC types to defend the reputation of their investment. Why aren't there more everything is rainbows trolls?

because narrative must follow the price in order to be credible.

it would be stupid to talk about trains and rockets with price in 200 $ range, so now you have guys talking about "increasing buying power", "300 next week", "short squeeze" and shit like that.

once this place goes dead silent you will know we hit the bottom.

That was last week. I guess it's all up from here then. Loving the bullish new you.

why are you twisting my words fatty?

silent phase will last for months, not days.

To annoy you

With love, of course

LFC_Bitcoin

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Tarmi we've seen the bottom now.

Your attenpts are futile.

Don't be afraid to change tactics if the tide turns.

tarmi

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Quote from: Fatman3001 on April 28, 2015, 09:21:16 AM

Quote from: tarmi on April 28, 2015, 08:49:10 AM

Quote from: BlindMayorBitcorn on April 28, 2015, 08:41:09 AM

You know what I wonder: with all these guys with all this money at stake, you'd think they would pay some anti-NLC types to defend the reputation of their investment. Why aren't there more everything is rainbows trolls?

because narrative must follow the price in order to be credible.

it would be stupid to talk about trains and rockets with price in 200 $ range, so now you have guys talking about "increasing buying power", "300 next week", "short squeeze" and shit like that.

once this place goes dead silent you will know we hit the bottom.

That was last week. I guess it's all up from here then. Loving the bullish new you.

why are you twisting my words fatty?

silent phase will last for months, not days.

Fatman3001

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Quote from: Norway on April 28, 2015, 09:19:39 AM

I have to say, I really like that bid at GBTC that came this morning. 5,000 coins at 350 USD/BTC. About half the volume of BTC-e spike, but at the same time it's just their first bid...

You have to wonder how many is sitting on the fence waiting to see where the price will go when trading commences.

Fatman3001

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Quote from: tarmi on April 28, 2015, 08:49:10 AM

Quote from: BlindMayorBitcorn on April 28, 2015, 08:41:09 AM

You know what I wonder: with all these guys with all this money at stake, you'd think they would pay some anti-NLC types to defend the reputation of their investment. Why aren't there more everything is rainbows trolls?

because narrative must follow the price in order to be credible.

it would be stupid to talk about trains and rockets with price in 200 $ range, so now you have guys talking about "increasing buying power", "300 next week", "short squeeze" and shit like that.

once this place goes dead silent you will know we hit the bottom.

That was last week. I guess it's all up from here then. Loving the bullish new you.

JorgeStolfi

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A curious resemblance:

Last 18 months, 3d intervals	Last 18 hours, 5m intervals

[ click on each image for the full-size version ]

Norway

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I have to say, I really like that bid at GBTC that came this morning. 5,000 coins at 350 USD/BTC. About half the volume of BTC-e spike, but at the same time it's just their first bid...

Sitarow

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inca

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Still waiting for my buy order at 201 to be hit. Doomers on here keep promising sub 200 but all I see is shorts at ridiculous levels and the price holding. Watch that short swap rate slowly climb.

Fatman3001

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Quote from: micalith on April 28, 2015, 08:54:08 AM

Quote from: billyjoeallen on April 28, 2015, 08:40:15 AM

Quote from: Wandererfromthenorth on April 28, 2015, 08:04:36 AM

Quote from: billyjoeallen on April 28, 2015, 07:31:33 AM

Quote from: tarmi on April 28, 2015, 07:22:10 AM

Quote from: billyjoeallen on April 28, 2015, 06:28:21 AM

If you wanna give me even moar coinz, go ahead. I'm patient and not over-leveraged. The lower it goes, the more buying power I have.

no, stupid fuck.

your buying power will be the same, you will just buy more coins.

My ability to buy coinz will increase, even if the amount of fiat I have to spend remains constant. I'm pretty sure you'll run out of coinz to sell before I run out of fiat, unless I get fired I suppose.

Chinese megaminers have plenty of coins to dump, don't worry about that Grin

um, no. All miners everywhere have only 3600 coins/day to dump, excluding stockpiles. How much stockpiles are left after a 15 MONTH BEAR MARKET is unknown, but the number is surely much smaller than in the past. at $225/BTC, that's only $810,000 dollars bulls have to pony up to keep prices stable. At ~five million unique wallets, just over 16% of which have to contribute ONE DOLLAR A DAY TO HOLD THIS PRICE LEVEL. That may not happen, but are you willing to bet on it?

some Chinese electricity company must surely realise soon that accepting and holding bitcoin would be a ridiculously successful strategy. Or is that banned?

Yup, banned in dec 2013

Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 21879. (Read 26609878 times)