yeah like this
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 23837. (Read 26713010 times)
January 03, 2015, 05:07:58 PM
January 03, 2015, 05:07:52 PM
Can somebody share with all of us, at what price level does BTC becomes unprofitable for the miners and they start shutting off they rigs and BTC collapses completely? Is this even possible?
At current difficulty, on 20 nm process and 10 cents per kWh, I'd guess around 200, maybe a little less...
with free electricity around 0.1 dollars i guess
There is overhead such as rent labour cost of miners and upkeep.
The reality is that btc mining is not profitable if the network difficulty and price stay at its present rates.
I have updated the Hardware return vs buying bitcoin spreadsheet. The link is in my posted history if you want a copy.
I have a feeling that one reason for the low volume volitility may be due to coin-swap and associated fallout.
I'll know when mining is no longer profitable when I get notice from knc that they are going to ship me the bonus miner I was promised (as long as I pay the shipping)
January 03, 2015, 05:07:43 PM
Can somebody share with all of us, at what price level does BTC becomes unprofitable for the miners and they start shutting off they rigs and BTC collapses completely? Is this even possible?
At current difficulty, on 20 nm process and 10 cents per kWh, I'd guess around 200, maybe a little less...
with free electricity around 0.1 dollars i guess
There is overhead such as rent labour cost of miners and upkeep.
The reality is that btc mining is not profitable if the network difficulty and price stay at its present rates.
I have updated the Hardware return vs buying bitcoin spreadsheet. The link is in my posted history if you want a copy.
I have a feeling that one reason for the low volume volitility may be due to coin-swap and associated fallout.
If it is not profitable, why don't miners unite each other and ration the supply? Miners behave like faithless dumpers that adds fuel to the fire. Unbelievable.
January 03, 2015, 05:05:57 PM
I usually wouldn't say this, but so no one makes a financial decision based on that -- BTC-China orderbook is fake. These fake buy/ask walls appear every time price drops or exceeds 2k. If 2k is approached, all those asks are gone, and 10k of bids appear.
On the other hand, China has a new short time low of 1800CNY. US still hasnt pushed for new lows below $275.
True, but that has been established in the trading community for some time now. Then again, most of the numbers presented from China are fake, I mean, we are dealing with China ffs..I lived there for a few years and have some knowledge of their culture. It's all about hustling, gambling and making a quick buck. Bitcoin is perfect for that type of scheme.
it's actually hilarious to watch the buying and selling at BTCCHINA, the order book bears no resemblance to the activity at all. Bobby Lee is not even trying to hide it, lol. Good for him.
Last time we had BTC China doing that we had nice rally from 330 to 390. 2k ask wall pushed the price 20$ below just before rally started.
January 03, 2015, 05:05:47 PM
wall has changed, deep on both sides now
January 03, 2015, 05:00:13 PM
January 03, 2015, 04:59:41 PM
Can somebody share with all of us, at what price level does BTC becomes unprofitable for the miners and they start shutting off they rigs and BTC collapses completely? Is this even possible?
At current difficulty, on 20 nm process and 10 cents per kWh, I'd guess around 200, maybe a little less...
with free electricity around 0.1 dollars i guess
There is overhead such as rent labour cost of miners and upkeep.
The reality is that btc mining is not profitable if the network difficulty and price stay at its present rates.
I have updated the Hardware return vs buying bitcoin spreadsheet. The link is in my posted history if you want a copy.
I have a feeling that one reason for the low volume volitility may be due to coin-swap and associated fallout.
January 03, 2015, 04:58:41 PM
Honey, bitcoin crashed to $290... we gotta sell the house...
... to buy more bitcoin.
"Honestly honey, you'll love the new apartment, and it's only temporary..."
January 03, 2015, 04:56:39 PM
Honey, bitcoin crashed to $290... we gotta sell the house
January 03, 2015, 04:51:56 PM
Can somebody share with all of us, at what price level does BTC becomes unprofitable for the miners and they start shutting off they rigs and BTC collapses completely? Is this even possible?
At current difficulty, on 20 nm process and 10 cents per kWh, I'd guess around 200, maybe a little less...
with free electricity around 0.1 dollars i guess
January 03, 2015, 04:51:35 PM
January 03, 2015, 04:50:06 PM
for dust thou art, and unto dust shalt thou return.
January 03, 2015, 04:49:28 PM
Can somebody share with all of us, at what price level does BTC becomes unprofitable for the miners and they start shutting off they rigs and BTC collapses completely? Is this even possible?
I am not sure, but I think around 270ish would be that number.
Would still like to get a definite answer from others.
January 03, 2015, 04:48:26 PM
Can somebody share with all of us, at what price level does BTC becomes unprofitable for the miners and they start shutting off they rigs and BTC collapses completely? Is this even possible?
At current difficulty, on 20 nm process and 10 cents per kWh, I'd guess around 200, maybe a little less...
That was an exact number in my head.
Thanks
January 03, 2015, 04:47:44 PM
Can somebody share with all of us, at what price level does BTC becomes unprofitable for the miners and they start shutting off they rigs and BTC collapses completely? Is this even possible?
At current difficulty, on 20 nm process and 10 cents per kWh, I'd guess around 200, maybe a little less...
*edit*
"Is this even possible?"
No, not really. It's basically a feedback loop. unprofitable miners will turn off slowly and gradually the hashrate will follow the price, though there can be considerable lag.
January 03, 2015, 04:43:28 PM
bitcoin will never die
January 03, 2015, 04:43:16 PM
Can somebody share with all of us, at what price level does BTC becomes unprofitable for the miners and they start shutting off they rigs and BTC collapses completely? Is this even possible?
January 03, 2015, 04:40:16 PM
I usually wouldn't say this, but so no one makes a financial decision based on that -- BTC-China orderbook is fake. These fake buy/ask walls appear every time price drops or exceeds 2k. If 2k is approached, all those asks are gone, and 10k of bids appear.
On the other hand, China has a new short time low of 1800CNY. US still hasnt pushed for new lows below $275.
True, but that has been established in the trading community for some time now. Then again, most of the numbers presented from China are fake, I mean, we are dealing with China ffs..I lived there for a few years and have some knowledge of their culture. It's all about hustling, gambling and making a quick buck. Bitcoin is perfect for that type of scheme.
it's actually hilarious to watch the buying and selling at BTCCHINA, the order book bears no resemblance to the activity at all. Bobby Lee is not even trying to hide it, lol. Good for him.
January 03, 2015, 04:39:24 PM
bitcoin still faster than sepa
Gotta say that SEPA is quite, fast, though... I mean the delays are mostly because banks are too tired to clear the transactions multiple times a day, I guess. They could be much faster if they wanted to, of course...
I believe they are making these things as slow as bearable to make it look like some very complicated task rather than a simple automated number crunching in a database to make some people think transfer fees are cheap (and that there is some hard work behind any kind of progress when they make it a little bit faster).
------
BTW It's a nice bloodbath over there (USD/BTC). Thank you for inviting my short position to the party.
January 03, 2015, 04:38:47 PM
LMAO @ BTCChina order book!
Holy Crap!
Is the reverse of your signature also true? "Sometimes when it looks too bearish, it's actually bullish" ?
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