Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 26120. (Read 26709924 times)

Yes, we have already gone through this and probably the part that irritated me the most is your inability or unwillingness to articulate a plan for storage of your value for the next two years.







Yes, I inquired about this, but I believe other posters attacked your religion.  I did NOT attack your religion, but later got irritated with you when you began to explain the different effect on your religion based on differing kinds of investments and that some things were forbidden and other things were o.k... and then explanation seemed ridiculous to me.





I became irritated by what I perceived to be arrogance in your explanations and NOT that you have personal choices or religious beliefs.





Agreed.  It is good to be open to various other beliefs, and there may be things to learn from the beliefs and practices of others.







We've talked about this before, too.  I already told you that I would say the same things to your face as I do behind a keyboard; however, it is likely that I would NOT tolerate being around somebody like you for very long.  Additionally, I would probably NOT want to meet somebody like you face to face, at this point, b/c it sounds as if you have violent tendencies, so why would I want to put myself in a violent situation with someone who is supposed to be a grown man, but has difficulties articulating himself, so he wants to resort to physical confrontation.  I would NOT want to do that b/c I consider myself to be able to resolve matters without physical violence.. yet I am prepared to throw down on the street if I have to with some stranger; however, i am NOT going to purposefully put myself into some physical altercation situation with someone who is already engaging in implied threats.

That service must sell the coins as soon as they get them.  In the context of the discussion, it is just one way in which miners can sell coins to pay their utility bills.

After may of next year sounds good to me

Mining being a free market, it should be the case that the supply (miners) expands and ajusts until the activity is about as profitable as any other business.  In that case one would expect miners to make only 10-20% over costs.

(However, since the difficulty and price change rather quickly,  the mining market may far from equilibrium, in either way.)

The set of miners and the set of people who believe in bitcoin-to-the-moon may overlap to some extent, but do not have to.  A person can be skeptical of bitcoin but engage in large-scale mining (or day-trading) if he thinks that it is lucrative.  Bythe same token, there seem to be many bitcoiners who day-trade altcoins even though they think that all altcoins will die.

The huge cost of a large-scale mining operation is not proof of long-term faith in bitcoin.  The investors must know that all that equipment will be junk within a year anyway.  They are betting that that BTC price & total hashrate wll be within certain ranges for the next year or so, so that mining will yield more (in dollar terms) than their investment, within that time frame.  Otherwise they should have either kept their dollars or used them to buy bitcoins on the market, depending on their long-term outlook.

10-20 years in the future would be good.

i can only guess: you buy cheap off exchange, say china, then you sell there.

edit: on second tought i see your point...still looks to me it could be a price race to the downside

Who's gonna buy when someone is gonna dump?

Would you like to pick a date that we can check in with one another regarding the price and/or the success of bitcoin?  I prefer to pick a date after May of next year, but if you think another date would be suitable, we could do that as well.

I've read that Jersey is a fiscal heaven, i'm wondering (no trolling) if fund like GABI can be used for somehow dumping bitcoins for tax free cash instead of buying like everyone seems to be expecting.

I agree with you to the extent that you are suggesting that sooner or later the 3600 coins per day will be sold, but there is a lot of difference regarding whether or NOT they are sold on an ongoing basis or whether the  miners are more strategic with their selling. It makes little to no sense that they would just blindly flat sell them at set intervals, and it make a heck of a lot more sense that they are going to attempt to time the sales to be more effective and to get more bang for the buck.  On the other hand, there will be some instances in which they will be forced to sell to pay for electricity for example, as you mentioned; however, in those cases that they are forced to sell for rates that they believe to be below market, the rational miner would minimize the amount that s/he sells at that particular time in order to wait for higher prices, which are inevitable so long as miners do NOT dump coins.

in fact, I do remember, the only outrageous thing I recall is you getting pissed off when I said I sold half of my stash to take 2 years off, and when I pointed out that I like the concept of forbidden interest on loans Islam applies in economics... you took my statement poorly and outrageously, the first statement is a personal choice, so I don't know why you care, the second statement is about me being open about religions and ideas, I studied many religions and I found the general concept to be a horse shit and delusion and just a way to govern people in the past, but this doesn't mean there is nothing to learn from them, I did learn so many amazing and smart concepts from different religions.

since these 2 statements, you tend to attack me like an enemy, the thing is that hiding behind a screen gives you the courage to write such ignorant and hurtful things, I would like to meet you in person and have you tell me these things to my face.

Seems logical for a large holder currently investing in a startup bitcoin fund would want to keep a market moving sideways so when the fund starts it is easier to attract investors

I love speculation

thoughts anyone

Ok, let's just see how the market goes, and how your doubts will work out for you

I believe that hammering guy did NOT live to hammer again.

i can see GABI eating at those 515 walls in seconds.

Well, ultimately when people invest, they consider probabilities and then invest accordingly. Some people stick to their guns and just wait it out, and others waffle and others monitor and methodically readjust their investments.  If some people consider bitcoins to be like snake oil, then they will likely choose NOT to invest or they may choose to get out of BTC as an investment.  I doubt that the perception of snake oil is as prevalent as you make it out to be, and instead there are more and more people who are becoming inclined to invest in BTC rather than disinclined.. and we will see how that evolves over the coming months.  I expect upward, and you seem to be communicating that you expect downward, and we will see who is right... that is if you are still hanging around here (to save us from ourselves and the snake oil salesmen) next year.

GABI aren't buying yet, call them and they will confirm:

Global Advisors
Global Advisors (Jersey) Limited
Spectrum Gloucester Street
St. Helier
Jersey JE2 3DE
Channel Islands
+44 1534 513 100   

Daniel Masters
Telephone: +44 1534 513 131
Fax: +44 1534 513 102
Email: [email protected]   

Russell Newton
Telephone: +44 1534 513 151
Fax: +44 1534 513 102
Email: [email protected]

Hard to believe they would be so unsophisticated.  But I guess it ain't their money.

I dont need evidences. I dont have to measure or speculate the number of coins that miners dump everyday.

for me definition of a mining business and the fact that there are new 3600 coins everyday are enough to conclude that there will be ALWAYS some selling pressure from the miners.

with ASICs and concentration of hash in bigger farms more then ever actually.

With hedge funds only money we are going nowhere IMHO