Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 31857. (Read 26368589 times)
August 31, 2013, 04:53:07 PM
Sooo.. what happens at 150?
August 31, 2013, 04:32:01 PM
They aren't wasted because you get Bitcoins for them.
Nope, that's just a neat way of distributing the currency.
It's neat, but not efficient. A miner is left on as long as the bitcoins it produces are worth more than the power cost of producing them. In other words, in a (plausible) worst-case scenario, each bitcoin mined will cost just a fraction below the power burned to mine it. If the FED was working on that kind of margin, people might be even moar pissed
All bills $50 and below cost more to print than their face value.
Wow, didn't know that. A link?
Edit:
"... Details on the procedure are not in the public domain for obvious reasons. However, the estimated cost of one dollar bill has been placed at around 8 to 9 cents per dollar bill." -- not authoritative, but unless you have some better sauce, i'm going with that.
August 31, 2013, 04:29:00 PM
They aren't wasted because you get Bitcoins for them.
Nope, that's just a neat way of distributing the currency.
It's neat, but not efficient. A miner is left on as long as the bitcoins it produces are worth more than the power cost of producing them. In other words, in a (plausible) worst-case scenario, each bitcoin mined will cost just a fraction below the power burned to mine it. If the FED was working on that kind of margin, people might be even moar pissed
All bills $50 and below cost more to print than their face value.
August 31, 2013, 04:22:24 PM
They aren't wasted because you get Bitcoins for them.
Nope, that's just a neat way of distributing the currency.
It's neat, but not efficient. A miner is left on as long as the bitcoins it produces are worth more than the power cost of producing them. In other words, in a (plausible) worst-case scenario, each bitcoin mined will cost just a fraction below the power burned to mine it. If the FED was working on that kind of margin, people might be even moar pissed
August 31, 2013, 04:20:13 PM
I don't see the connection with $250.
Quote
For example 65 million difficulty gaining 75% per month for a year results in 50 billion difficulty. The electrical cost even at 1W/GH and $0.10 per kWh would >$250 per BTC.
This is actually pretty funny. The basis of a currency is how many resources must be wasted to make it. I like.
Waste and inefficiency is the basis for any monetary system. Capitalism thrives on overpricduction and overconsumpton. If you want a sane economic model, look into a resource based economy.
August 31, 2013, 04:13:31 PM
I don't see the connection with $250.
Quote
For example 65 million difficulty gaining 75% per month for a year results in 50 billion difficulty. The electrical cost even at 1W/GH and $0.10 per kWh would >$250 per BTC.
This is actually pretty funny. The basis of a currency is how many resources must be wasted to make it. I like.
The resources aren't wasted, and that's just a number that one should look at before deciding to mine or buy.
They aren't wasted because you get Bitcoins for them. Ok, sure. I'm not against mining, you know. There is an overhead of wasted resources whenever you try to get any group of people to do basically anything together.
August 31, 2013, 04:10:23 PM
$6000 arb between gox and virtex.........
this is because i am currently locked out of my account at virtex... my cat killed the wire to charge my tablet and i have 2 factor Auth...
stupid cat, costing me such a good opportunity...
What kind of cable? You cannot go out and buy a replacement?
I ordered one, Its on its way here.
Can't buy, waiting for wire to arrive. Hilarious.
August 31, 2013, 04:02:02 PM
August 31, 2013, 03:56:39 PM
This is Bitstamps price- volume for the last year. ratio is only 100:1
August 31, 2013, 03:50:40 PM
I don't see the connection with $250.
Quote
For example 65 million difficulty gaining 75% per month for a year results in 50 billion difficulty. The electrical cost even at 1W/GH and $0.10 per kWh would >$250 per BTC.
This is actually pretty funny. The basis of a currency is how many resources must be wasted to make it. I like.
August 31, 2013, 03:48:47 PM
I don't see the connection with $250.
Quote
For example 65 million difficulty gaining 75% per month for a year results in 50 billion difficulty. The electrical cost even at 1W/GH and $0.10 per kWh would >$250 per BTC.
August 31, 2013, 03:32:41 PM
I don't see the connection with $250.
August 31, 2013, 03:29:27 PM
Bitcoin price and Volume for the last year at a 1000 to 1 ratio and the volume is smoothed with 10 day average price.
On average the last 40 days fewer bitcoins changed hands than before the spike. Not sure if this is a good development.
Do you mean "MtGox" volume and price?
The other exchanges are irrelevant. They have laughable depth and are used primarily to cash out, which itself is problematic for the big whales because cashing out on these joke exchanges would cause massive slippage. So the whales are stuck with bitcoin. While the bitcoiner fanatics reason we are going through a period where people are buying for "investment" purposes. This is so hilarious. So much delusions.
Meanwhile, ask depth continues to vanish on gox... Massively profitable arb opportunity has been around for over a month, but so few are taking advantage of it so therefore spread won't close.... Gee i wonder why they don't want fiat on gox.
lol, this crash gonna be so hilarious.
August 31, 2013, 03:28:14 PM
Up to $250 per BTC
https://bitcointalk.org/index.php?topic=283820.0;all
https://bitcointalk.org/index.php?topic=283820.0;all
August 31, 2013, 03:23:15 PM
Quote
Do you mean "MtGox" volume and price?
yes August 31, 2013, 03:22:54 PM
this is going to get fugly
August 31, 2013, 03:16:32 PM
Bitcoin price and Volume for the last year at a 1000 to 1 ratio and the volume is smoothed with 10 day average price.
On average the last 40 days fewer bitcoins changed hands than before the spike, price pointing the other way. Not sure if this is a good development.
On average the last 40 days fewer bitcoins changed hands than before the spike, price pointing the other way. Not sure if this is a good development.
August 31, 2013, 03:01:52 PM
August 31, 2013, 02:50:14 PM
Sitarow,
that is info-overload and hurts my eyes. Terrible charting, just terrible
that is info-overload and hurts my eyes. Terrible charting, just terrible
oh you get used to it
It's all in the details. And that is just 1 screen.
August 31, 2013, 02:47:15 PM
Interesting isn't the word... Who'd have thunk numbers could be so exciting!
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