Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 22299. (Read 26644514 times)

Coin
Explanation

"buckle your seatbelt dorothy because kansas is going bye-bye"

We are going DOWN...

I am looking forward to the day I can use the same quote in the situation where bitcoin take over the world of money!

nice little bull trap.

220 soon?

Weird, I had the same dream a month ago. Only it went to 850 and I bailed before it crashed to 650 and stayed there.

I had a dream last night I was watching the charts (anyone else dream about BTC charts?) and there was a mega green candle, and we were back up to the $800's. Obviously only a crazy dream. 

Maybe we''ll see 1550-1600cny (or +) soon.

China is pretty bullish.

Good at by Chessnut https://bitcointalksearch.org/topic/m.10877073

Coin
Explanation

unfortunately this is btc moving out of drk into ltc and btc usd.

Drk at cryptsy exchange and ltc at btce.

Looks like what we seen back when bitstamp stolen btc was being sold on the markermarket.

Back in Jan/2014, the miners as a whole were getting something like 4 M$ per day. In Jun/2014 they made about 3 M$/day.  The big industrial miners were probably making a good profit back then.  Today, they are fighting for less than 1 M$ per day.  It seems unlikely that they are still very profitable.  It is no wonder that the majority of the hashpower is now in China, where electricity is cheap(*).

The hashpower (and hence the difficulty) is still increasing, perhaps because mining farm operations that started months ago are only now coming in line, and/or because the existing farms are replacing their machines by more efficient ones.  Either way, the capital cost of that new equipment must be adding to the stress on miners' revenue. For some miners, the expected return from their investment may already be negative; but they may keep mining, in order to reduce their losses, until the increase in difficulty makes the marginal cost negative too.

Recall that the miners (and the entire bitcoin economy) are being supported almost entirely by the new investors who buy coins to hold.  The price has fallen so much because those investors, and their money, are becoming more scarce. 

In Jun/2014 those investors were putting 3 M$/day into the system for the miners, and some more for the earlier buyers who were cashing out. How much more, no one knows; for the sake of argument, lets assume that it is the same amount that they give to miners. WIth that assumption, the new investors must be pouring 2 M$/day today.

Today's new investors are motivated by the hope that some day -- say, in early 2016 -- they will be able to sell their coins for a lot more -- say, at least 500 $/BTC.  For that to happen, the new investors on that future date would have to put 6 M$/day into the system -- 2 M$/day to buy the coins produced by the miners, and 4 M$/day to buy the coins that today's investors are buying now, assumed to be worth 2 M$/day.  And those future investors must be motivated by the hope of selling their 500$ coins for 1000$, say in early 2017; which means that, by that date (post-halving), new investors should be pouring in 2 M$/day for the miners and 8 M$/day for the previous year's investors, or 10 M$/day.  And so on.

Good luck with that.

(*) I have read unconfirmed rumours that Friedcat, the CEO of the Chinese mining company AMHash, disappeared because the government discovered that his mine was getting its power from a food factory, which was heavily subsidized by the Chinese goverment.

its useless to resist..

Getting [repeatedly] robbed by second-rate crooks is the defining quality of Bitcoiners.  Always assumed that was Bitcoin's main attraction.

Good morning, gentlemen.

http://s1.postimg.org/vj63dbv33/durr.jpg

Guys. I turn back to my previous expectation which is $120. In the meanwhile I thought - up from $220 would give us the chance for a reversial. But optimism is far to high for a real trend change. Look at the ridiculously high number of long positions.

I know at least one of them are sniffing at bankruptcy.

One of the virtues of PoW is that it's simple. More complex methods like PoSV have a serious danger of getting rekt to the ground by exploits. I would stay out of Reddcoin and other PoS/PoSV coins until they are properly stress tested. Another problem is that their award structures tend to look like proper pyramid schemes. I hodl so I get more money by hodling... or "days destroyed"-like rewards. Any coin that bases "mining" on the users behavior is problematic since it skews economic activity.

With BTC you make money mining if you have the best conditions for mining. Welcome to the real world! It's a proper financial tool, not a playground for spotty teenagers crying about how unfair it is that they can't get rich quick on the Alienware machines they got for Christmas.

^Trend reversal?

Coin
Explanation

Cloudmining companies are experiencing a lot of troubles with their websites the last couple of days. Megamine.com is offline regularly, and so is genesis-mining.com and zeushash.com. Fishy...

Somebody called? I'm here!!!  
A Hodler can never lose!

Except for:
1. You lose when you're robbed (I got Goxxed & Vircurexxed)
2. You lose when you sell (at ANY price, no matter how high or low).

I will probably have to sell but I'm nowhere near my target (never was even @ $1,200 either to save your breath)
If some one of you here "certifies" himself as "Hodler" then keep this in mind:

YOU DON'T SELL UNLESS IT'S AN EMERGENCY AND YOU DESPERATELY NEED THE FIAT!

Period.

Yeah, and a hidden bearish divergence, that also will get stronger and stronger with the ongoing bounce.

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