Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 23772.

Fatman3001

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Make Bitcoin glow with ENIAC

Quote from: Newbie1022 on January 05, 2015, 04:24:19 PM

Market is being buoyed by Coinbase buyers switching to BFX and/or just somebody trying to put a floor under this. That said, the bottom is clearly about to fall out. Mining has accelerated so that miners can get new coins and sell them at this price before the price falls to the single digits. Then it dies. The end. Nothing else to say. The s--- has just died. Period. Death.

Enjoy the bloody sharts over the next few days.

... ?

That makes no sense whatsoever.

findftp

legendary

Activity: 1022

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Delusional crypto obsessionist

Quote from: Fatman3001 on January 05, 2015, 04:23:45 PM

I don't give a sh#@$t about Bitstamp, but I would prefer that their implosion doesn't send Bitcoin further down the drain.

Why not? Cheap coins Grin

I mean, bitcoin won't die does it? Please,... tell me it won't die.
please
please
please!

Wink

macsga

legendary

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Strange, yet attractive.

Quote from: samsonn25 on January 05, 2015, 03:55:22 PM

I think large mining operations are fcked with rising diff

With mostly the overhead costs

Owner/manufacturers like Bitfury, Knc, and Bitmain lose less because they can get the equipment at pretty much the lowest cost.

There's also the electricity costs. These things are not running on air.

Newbie1022

full member

Activity: 238

Merit: 100

Market is being buoyed by Coinbase buyers switching to BFX and/or just somebody trying to put a floor under this. That said, the bottom is clearly about to fall out. Mining has accelerated so that miners can get new coins and sell them at this price before the price falls to the single digits. Then it dies. The end. Nothing else to say. The s--- has just died. Period. Death.

Enjoy the bloody sharts over the next few days.

Fatman3001

legendary

Activity: 1554

Merit: 1014

Make Bitcoin glow with ENIAC

Quote from: findftp on January 05, 2015, 04:18:54 PM

Quote from: Fatman3001 on January 05, 2015, 04:02:34 PM

Quote from: Gyrsur on January 05, 2015, 04:00:53 PM

Quote from: ChartBuddy on January 05, 2015, 03:59:58 PM

Explanation

we know it!

Stamp needs to get online and give us some numbers soon, or this mofo is going to sink like an anvil.

I'm very happy to only have 0,07 BTC over there which I received for trading some worthless shit ripple I once got in the past for beta testing.
Since I had to verify I went to finex, fuck that shit.
I'm happy to trade on finex and btc-e

Never lost a coin on any exchange other than making mistakes with trading

Overall profit ofcourse

I don't give a sh#@$t about Bitstamp, but I would prefer that their implosion doesn't send Bitcoin further down the drain.

findftp

legendary

Activity: 1022

Merit: 1008

Delusional crypto obsessionist

Quote from: Fatman3001 on January 05, 2015, 04:02:34 PM

Quote from: Gyrsur on January 05, 2015, 04:00:53 PM

Quote from: ChartBuddy on January 05, 2015, 03:59:58 PM

Explanation

we know it!

Stamp needs to get online and give us some numbers soon, or this mofo is going to sink like an anvil.

I'm very happy to only have 0,07 BTC over there which I received for trading some worthless shit ripple I once got in the past for beta testing.
Since I had to verify I went to finex, fuck that shit.
I'm happy to trade on finex and btc-e

Never lost a coin on any exchange other than making mistakes with trading

Overall profit ofcourse

Fatman3001

legendary

Activity: 1554

Merit: 1014

Make Bitcoin glow with ENIAC

Quote from: Gyrsur on January 05, 2015, 04:00:53 PM

Quote from: ChartBuddy on January 05, 2015, 03:59:58 PM

Explanation

we know it!

Stamp needs to get online and give us some numbers soon, or this mofo is going to sink like an anvil.

Gyrsur

legendary

Activity: 2856

Merit: 1520

Bitcoin Legal Tender Countries: 2 of 206

Quote from: ChartBuddy on January 05, 2015, 03:59:58 PM

Explanation

we know it!

ChartBuddy

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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

Explanation

samsonn25

hero member

Activity: 882

Merit: 1003

I think large mining operations are fcked with rising diff

With mostly the overhead costs

Owner/manufacturers like Bitfury, Knc, and Bitmain lose less because they can get the equipment at pretty much the lowest cost.

Tzupy

legendary

Activity: 2170

Merit: 1094

Quote from: samsonn25 on January 05, 2015, 03:47:15 PM

Quote from: Tzupy on January 05, 2015, 03:38:57 PM

Quote from: dakota neat on January 05, 2015, 03:31:51 PM

So now Bitstamp has to buy back its 18K BTC on the market asap

Not necessarily. They could dump inexistent coins and buy them back later at a much lower price. A sort of reverse Willy. Grin

Traders do this everyday. Called shorting

Actually the coins are borrowed from long holders or equity is put in place as collateral.

I know it's called shorting, I'm doing it too. But Bistamp could do this on a large scale without collateral and front run the market.

Fatman3001

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Activity: 1554

Merit: 1014

Make Bitcoin glow with ENIAC

Quote from: JerryCurlzzz on January 05, 2015, 03:30:03 PM

Quote from: Fatman3001 on January 05, 2015, 03:27:48 PM

Quote from: ?? on ??

Meanwhile, network hash rate accelerates upward Tongue

Someone must have fallen and hit their head. I can't believe that many are still making money mining.

I think that well-positioned miners are still making very good money selling at this rate. Casual miners in the west -- not so much. But established miners with good access to new generation chips and cheap electricity (in China, etc), I believe can still be profitable. I remember seeing numbers thrown around, but cannot recall them now, though.

Yes, but a hundred dollar drop from a month ago when it was already tight. And now they are increasing hashrate? If the price doesn't bounce back hashrate will have to flatten again, if not fall. Not all of the network is in China, yet.

samsonn25

hero member

Activity: 882

Merit: 1003

Quote from: Tzupy on January 05, 2015, 03:38:57 PM

Quote from: dakota neat on January 05, 2015, 03:31:51 PM

So now Bitstamp has to buy back its 18K BTC on the market asap

Not necessarily. They could dump inexistent coins and buy them back later at a much lower price. A sort of reverse Willy. Grin

Traders do this everyday. Called shorting

Actually the coins are borrowed from long holders or equity is put in place as collateral.

JorgeStolfi

hero member

Activity: 910

Merit: 1003

Quote from: relm9 on January 05, 2015, 02:46:09 PM

If this was 2013 or earlier, news like BitStamp hack would have caused immediate dumping on all exchanges, but there's only been a slight depress in the price following release of the news.

Could it be that (ahem!) China still sets the price, and the Chinese do not care about Bitstamp?

samsonn25

hero member

Activity: 882

Merit: 1003

Quote from: DonQuijote on January 05, 2015, 03:37:46 PM

Quote from: podyx on January 04, 2015, 12:39:20 PM

https://www.tradingview.com/v/Dx9hLqQ1/

This is suggesting that ~$235-240 will be the bottom and a price of $5k to look forward to in just a few months

Can you imagine that?... doesn't seem very realistic at this point

5 months ago:
https://www.tradingview.com/v/1w92kX89/

The chart is no too proportional

Son0fLamb

newbie

Activity: 28

Merit: 0

Quote from: JerryCurlzzz on January 05, 2015, 03:30:03 PM

Quote from: Fatman3001 on January 05, 2015, 03:27:48 PM

Quote from: ?? on ??

Meanwhile, network hash rate accelerates upward Tongue

Someone must have fallen and hit their head. I can't believe that many are still making money mining.

I think that well-positioned miners are still making very good money selling at this rate. Casual miners in the west -- not so much. But established miners with good access to new generation chips and cheap electricity (in China, etc), I believe can still be profitable. I remember seeing numbers thrown around, but cannot recall them now, though.

Once the chips are taped out, they will mine--that's sunk costs. Take KNC, for instance. As long as (selfhosting costs) + (cost of gluing the chips to boards} < price of coins mined, mining is going to happen.
Doesn't mean KNC will make money (may not recoup investment), but the losses would be far greater if the chips were tossed into dumpsters.

Tzupy

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Activity: 2170

Merit: 1094

Quote from: dakota neat on January 05, 2015, 03:31:51 PM

So now Bitstamp has to buy back its 18K BTC on the market asap

Not necessarily. They could dump inexistent coins and buy them back later at a much lower price. A sort of reverse Willy. Grin

gizmoh

legendary

Activity: 1428

Merit: 1000

Quote from: dakota neat on January 05, 2015, 03:31:51 PM

So now Bitstamp has to buy back its 18K BTC on the market asap

Buying 18k on Finex, thereby strangling the shorters Grin

DonQuijote

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♠ ♥ ♣ ♦ < ♛♚&#

Quote from: podyx on January 04, 2015, 12:39:20 PM

https://www.tradingview.com/v/Dx9hLqQ1/

This is suggesting that ~$235-240 will be the bottom and a price of $5k to look forward to in just a few months

Can you imagine that?... doesn't seem very realistic at this point

5 months ago:
https://www.tradingview.com/v/1w92kX89/

dakota neat

hero member

Activity: 658

Merit: 500

So now Bitstamp has to buy back its 18K BTC on the market asap

Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 23772. (Read 26714331 times)