Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 30553. (Read 26710181 times)

Yes, I have never been wrong before. See:



 It went up  

Good luck with your "Full fiat" philosophy dear chap! 

And this time you're not lying, and we should totally trust you with our financial decisions?

Guys, I'm sorry, I have been lying and deceiving you. That $1435-thing I wrote about earlier was just pure speculation. We're in for a rough ride. I am going full fiat and I suggest you do the same

I bet they will still be around even in 2015.

current snapshot of price action 5 min chart:

As a miner, I will try to answer your question, but first, the preamble:

sure, I'm a miner, and I have a small portion of my mined funds that I play around with on the exchange. I also have mined well over 1000 bitcoins yet I now have less than 50 left to show for it.

I still think I classify as a bull, even though I may have thrown away a fortune. If I didn't have the foresight or the belief that bitcoin would succeed then I never would have upgraded my hardware and never come close to 1000 bitcoin, (though I still might have reached 50)

I think there is great potential for the bitcoin protocol, but I have very little spare fiat to invest, so I very slowly mined bitcoin and then bought additional mining capacity as time went on. I have made some mistakes and some incredibly profitable purchases along the way.

My thinking was always that I felt it was more important to *know* about bitcoin and how it works than to just *have* bitcoin.

I must admit that I don't understand every little detail or nuance of the bitcoin protocol, but I have almost 3 years first-hand experience with how it works, and I think that's worth something.

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So, in an attempt to answer "How someone who is mining BTC can be a bull?"

A miner is intrinsically linked to the bitcoin system. A miner might simply want to cash out immediately into fiat, or might want to hold. The simple fact is that in both scenarios a higher bitcoin price is the desired outcome. If one felt that the price was going to drop, especially in the face of the exponential increase in difficulty, that person would likely sell their hardware, and would no longer be a miner.

Now that I think about it, I'm not sure how one could even be a miner without being a bull?

btc-e is looking a bit shaky atm, bitstamp is still looking good.
Still holding cuz i believe it will go up soon.

Damn that sucks. you would be worth close to half a million had you been able to rough it out for 3 years... 3 years for a half million. all you have to do is believe in your idea and stop wasting money...and i was pissed for having sold 18 BTC for 5k... shit

the same here, I didn't mine much (just a couple) but I also had to sell allot of bitcoins (the wife loosing her job and a new born son) if I had the chance to hold till today I would have made allot more...but this is life and BTW this is good for the adoption, many holding hands better than few holding hands, it assures some kind of stability....

 

I am a miner last three years. I had to sell at some point, had to sell at 10$ few times, sold more than 500 btc in these 3 years, bank loans, just life I have job my wife didn't we had to sell. So I feel bearish not bullish as a miner.

Perhaps they already got enough to the point they feel comfortable spending some future 10k's USD now?

I'm a miner. I don't spent a single coin I mined last year, nor will I start it this year. I'm comfortable hodling.

And boing!

Foolish small dump on Stamp.

Hold still - no reason for Gox to move - people buying back up

Our expenses are less than our income.  The value builds.  We hold our mined coins.  We trade with purchased coins.  

The large, as in huge, mining farms must sell some coins to pay their huge electricity bills and they all have hosting fees and most have wages to pay.  They are bulls and they must sell some to stay in business.

You can even be a bear and buy bitcoin now 

If I didn't need food and such, my mined coin would not get spent, or traded.

Alas, I do need food and such, so my meager bitcoin mine is pretty constantly tapped...

But can you sell stuff and still be a bull?