Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 30194.

Sitarow

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Quote from: JCviggen on January 24, 2014, 10:25:29 AM

That BTC mining chart for ASICs is making me smile. I mined 0.17 BTC yesterday via altcoins with "only" 12 GPUs Cheesy

By comparison the SHA hashing armsrace has developed into a massive shooting one's foot party.

But you do realize you are supporting an ALTcoin that in a few months will be unsustainable.

It is what I like to call FOTM coin.

Edited for clarity.

mellowyellow

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http://rt.com/business/bitcoin-shiller-bubble-davos-127/

Make hay while the sun shines guys.

JCviggen

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Age Of Mars | GameFI Virtual colonization of Mars

Quote from: ?? on ??

Quote from: mellowyellow on January 24, 2014, 10:26:31 AM

I'm shopping for a rig now, I figure that I can use it for other coins if things go badly with btc, I would love to be mining doge right now - I'm tempted by the fact you can swap coins easily as the market dictates.

But how long until guys with BTC stop trying to make more BTC by manipulating the altcoin markets, only alts that are not prone to this are at BTC-e (with fiat coming into it). I dont see how Doge coin will be tied to BTC like LTC is now.

It's been done ever since altcoins have existed, why stop now? They won't stop unless it stops working. If anything, it's making more money now than ever so...
Pumps and dumps work because suspension of disbelief is still very strong in crypto markets. People want to believe the coins they hold will "go to the moon" and that includes BTC holders. The same human feature that can propel a bitcoin to 1K or 10K USD is what makes altcoins worth some BTC.

mellowyellow

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Quote from: ?? on ??

Quote from: mellowyellow on January 24, 2014, 10:26:31 AM

I'm shopping for a rig now, I figure that I can use it for other coins if things go badly with btc, I would love to be mining doge right now - I'm tempted by the fact you can swap coins easily as the market dictates.

But how long until guys with BTC stop trying to make more BTC by manipulating the altcoin markets, only alts that are not prone to this are at BTC-e (with fiat coming into it). I dont see how Doge coin will be tied to BTC like LTC is now.

Prob not that long, but the lifespan of my rig would be limited too, I don't see the manipulation stopping any time soon.

mellowyellow

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Quote from: ?? on ??

Quote from: mellowyellow on January 24, 2014, 10:22:01 AM

Am I reading this wrong or is it far better to buy rigs in USD?

Its always better to buy rigs in USD, the question I am kinda asking is it actually better to buy a rig in USD (and mine for a year) or just the coins now. Assuming say $2,500 on an average across the board setup.

I'm shopping for a rig now, I figure that I can use it for other coins if things go badly with btc, I would love to be mining doge right now - I'm tempted by the fact you can swap coins easily as the market dictates.

JCviggen

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Age Of Mars | GameFI Virtual colonization of Mars

That BTC mining chart for ASICs is making me smile. I mined 0.17 BTC yesterday via altcoins with "only" 12 GPUs Cheesy

By comparison the SHA hashing armsrace has developed into a massive shooting one's foot party.

mellowyellow

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nvm, I read it wrong.

shmadz

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@theshmadz

Quote from: Sitarow on January 24, 2014, 09:59:38 AM

Quote from: ?? on ??

Quote from: Sitarow on January 24, 2014, 09:55:58 AM

Quote from: alexeft on January 24, 2014, 09:30:10 AM

Difficulty ATH!!! More than 2 billion! Shocked

Here is the expected BTC return for a variety of hardware during this present difficulty.

Utilizing something like that was is an average cost in USD to mine 1 BTC?

Hardware cost is not factored in as most have already paid off their hardware with previously mined BTC.

Edit: After considering the recent news with retailers accepting BTC as payment, and larger groups arrogantly attempting to hold a % of the mining income. BTC is seriously undervalued.

You could go as far as saying that $800 today is $8 Last 2012.

To address that bolded part: I think you are bang on. I don't think there are many new miners entering the market. The ones who are keeping up have likely realized some very large profit from previous mining. It is hard to quantify the price of a miner, since it is the profits from the previous miners that pay for the new ones. *(may all your miners be profitable)*

To address the edit, specifically the part about larger groups trying to maintain their %: I am not a large group. I mine in a small apartment (electricity is included in the rent). Whenever my mining income drops to around 1 BTC/week I feel uncontrollably compelled to increase my hashrate. I am already down to about .3 per day. If Neptune does not ship *soon* then I fear I might go absolutely bonkers. I've become accustomed to steady BTC income, and if that gravy train stops I'm not sure what I might do?

fonzie

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Quote from: Vigil on January 24, 2014, 09:58:15 AM

I don't see a drop to $500 or below all that extremely bearish. The equivalent to the bulls level of hysteria when the price starts to rise for the "bears" would be: "its going to zero". A call between $300-$500 seems realistic to me as we just went from $100 to $1000 in a couple months. Why should bitcoin even be valued at $1000 or $900? Has that much changed in that time-frame? Not really, just a lot of speculators and some long-term legit buyers entered the market.

+1

ChartBuddy

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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

Explanation

Sitarow

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Quote from: ?? on ??

Quote from: Sitarow on January 24, 2014, 09:55:58 AM

Quote from: alexeft on January 24, 2014, 09:30:10 AM

Difficulty ATH!!! More than 2 billion! Shocked

Here is the expected BTC return for a variety of hardware during this present difficulty.

Utilizing something like that was is an average cost in USD to mine 1 BTC?

Hardware cost is not factored in as most have already paid off their hardware with previously mined BTC.

Edit: After considering the recent news with retailers accepting BTC as payment, and larger groups arrogantly attempting to hold a % of the mining income. BTC is seriously undervalued.

You could go as far as saying that $800 today is $8 Last 2012.

Vigil

sr. member

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I don't see a drop to $500 or below all that extremely bearish. The equivalent to the bulls level of hysteria when the price starts to rise for the "bears" would be: "its going to zero". A call between $300-$500 seems realistic to me as we just went from $100 to $1000 in a couple months. Why should bitcoin even be valued at $1000 or $900? Has that much changed in that time-frame? Not really, just a lot of speculators and some long-term legit buyers entered the market.

macsga

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Strange, yet attractive.

I grabbed some popcorn for the weekend. You know... just in case of a possible

CCMF!!!!!!1

Sitarow

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Quote from: alexeft on January 24, 2014, 09:30:10 AM

Difficulty ATH!!! More than 2 billion! Shocked

Here is the expected BTC return for a variety of hardware during this present difficulty.

Edit: Reminds me of the similar returns when GPU's were king.

alexeft

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Quote from: TERA on January 24, 2014, 09:43:31 AM

Quote from: alexeft on January 24, 2014, 09:37:30 AM

Quote from: spooderman on January 24, 2014, 09:34:27 AM

It's the pullback before the tsunami

Well, considering that traffic on my bitcoin node has quadrupled in the last 24h, there might not even be a pullback!!!! Grin

CCMF!!!

7% drop: This is it. It's happening. Back to 500. Maybe lower. Don't forget to mention China.

3% recovery: Trains, Moons, and CCMF are back out. New ATH is in sight. Recent adoption news is highlighted again.

Such a bipolar market. Much emotion. Wow. This is too much for the heart.

Whatever!

TERA

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Activity: 728

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Quote from: alexeft on January 24, 2014, 09:37:30 AM

Quote from: spooderman on January 24, 2014, 09:34:27 AM

It's the pullback before the tsunami

Well, considering that traffic on my bitcoin node has quadrupled in the last 24h, there might not even be a pullback!!!! Grin

CCMF!!!

7% drop: This is it. It's happening. Back to 500. Maybe lower. Don't forget to mention China.

3% recovery: Trains, Moons, and CCMF are back out. New ATH is in sight. Recent adoption news is highlighted again.

Such a bipolar market. Much emotion. Wow. This is too much for the heart.

alexeft

legendary

Activity: 854

Merit: 1000

Quote from: TERA on January 24, 2014, 09:35:15 AM

omg i am so sick and tired of this adoption thing popping up every time a good drop gets started.

It's like somebody is playing the markets like a fiddle.

Too much money waiting on the sidelines to get in.....
Just like you! Wink

alexeft

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Activity: 854

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Quote from: spooderman on January 24, 2014, 09:34:27 AM

It's the pullback before the tsunami

Well, considering that traffic on my bitcoin node has quadrupled in the last 24h, there might not even be a pullback!!!! Grin

CCMF!!!

TERA

hero member

Activity: 728

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omg i am so sick and tired of this adoption thing popping up every time a good drop gets started.

It's like somebody is playing the markets like a fiddle.

spooderman

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It's the pullback before the tsunami

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