Tripled
Quads. And feck it. Let's melt a couple faces out there. P Schiff's would be a good start.
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 6683. (Read 26717953 times)
December 04, 2020, 10:52:57 AM
Tripled
Quads. And feck it. Let's melt a couple faces out there. P Schiff's would be a good start.
December 04, 2020, 10:47:24 AM
Wake a brother up when page parity occurs
Soon.Grayscale adding another 7000+ Bitcoin to their holdings.
Where did you get that image from?
Nothing too difficult I cannot replicate with ease on my spreadsheet.
Everything you wanted to know about Grayscale BTC Trust but were afraid to ask!
December 04, 2020, 10:46:19 AM
Okay, which one of you told his parents about Bitcoin on Thanksgiving? 
Source: https://twitter.com/Bloqport/status/1334864076934164480
Source: https://twitter.com/Bloqport/status/1334864076934164480
A push above $20k would really be the icing on the cake now.
#ThisTimeIsDifferent
December 04, 2020, 10:31:14 AM
There is one problem: mining. Satoshi Nakamoto (whoever he was) once said (https://bitcointalksearch.org/topic/m.415) that "the price of any commodity tends to gravitate toward the production cost" and "in later years, when new coin generation is a small percentage of the existing supply, market price will dictate the cost of production more than the other way around". I agree. Later years are still very far away. Widespread institutional adoption may shift the balance, but without it the price will gravitate toward the mining cost, that is low tens of thousands, for years to come.
Which is why non mining hodlers like difficulty increases. Not only more security, but also higher production cost.
Right. I am not against difficulty increases (my mining days are long gone), but I can hardly imagine a tenfold increase of the current production cost. As I understand, the main constituents are electricity costs and equipment costs (the equipment quickly becomes obsolete and constantly needs to be replaced). The efficiency (hash per joule) continues to increase, so I doubt that the energy consumption can increase significantly. Faster and more efficient equipment is more expensive, but its cost needs to increase faster than difficulty to make the cost of production higher.
Right, but you're forgetting another important factor to the final cost: the amount of competition. If you're the only one left mining, it doesn't really matter how computationally powerful or energetically efficient your rig is: each hour, all 6 blocks will be yours. Competition is what drives the arms race to get more powerful, more efficient gear and ultimately lifts production costs.
December 04, 2020, 10:17:54 AM
There is one problem: mining. Satoshi Nakamoto (whoever he was) once said (https://bitcointalksearch.org/topic/m.415) that "the price of any commodity tends to gravitate toward the production cost" and "in later years, when new coin generation is a small percentage of the existing supply, market price will dictate the cost of production more than the other way around". I agree. Later years are still very far away. Widespread institutional adoption may shift the balance, but without it the price will gravitate toward the mining cost, that is low tens of thousands, for years to come.
Which is why non mining hodlers like difficulty increases. Not only more security, but also higher production cost.
It is stating the obvious if something cost 1 dollar to make and I can sell it for 100, how long before someone sells it for 90
Years ago the market was flooded with PoS coins, and now, none to be found with high market capitalization.
December 04, 2020, 10:06:19 AM
Wake a brother up when page parity occurs
December 04, 2020, 09:59:44 AM
There is one problem: mining. Satoshi Nakamoto (whoever he was) once said (https://bitcointalksearch.org/topic/m.415) that "the price of any commodity tends to gravitate toward the production cost" and "in later years, when new coin generation is a small percentage of the existing supply, market price will dictate the cost of production more than the other way around". I agree. Later years are still very far away. Widespread institutional adoption may shift the balance, but without it the price will gravitate toward the mining cost, that is low tens of thousands, for years to come.
Which is why non mining hodlers like difficulty increases. Not only more security, but also higher production cost.
Right. I am not against difficulty increases (my mining days are long gone), but I can hardly imagine a tenfold increase of the current production cost. As I understand, the main constituents are electricity costs and equipment costs (the equipment quickly becomes obsolete and constantly needs to be replaced). The efficiency (hash per joule) continues to increase, so I doubt that the energy consumption can increase significantly. Faster and more efficient equipment is more expensive, but its cost needs to increase faster than difficulty to make the cost of production higher.
December 04, 2020, 09:59:11 AM
I've been contemplating somethig recently. We all expect that 2021 will be incredible for Bitcoin. May be the price will cross 50K, 100K, 200K, or even more. With that in mind, wouldn't it be better if I take an unpaid leave of absence from my work for 1 year and go to some exotic island with no internet and tv. My work spot will be reserved, so I have no worries for that. I could just put some sell orders between 50K and 500K and when I return, I will discover what happened. In this way, I will avoid the emotional decisions and selling too much too early. 
December 04, 2020, 09:42:27 AM
There is one problem: mining. Satoshi Nakamoto (whoever he was) once said (https://bitcointalksearch.org/topic/m.415) that "the price of any commodity tends to gravitate toward the production cost" and "in later years, when new coin generation is a small percentage of the existing supply, market price will dictate the cost of production more than the other way around". I agree. Later years are still very far away. Widespread institutional adoption may shift the balance, but without it the price will gravitate toward the mining cost, that is low tens of thousands, for years to come.
Which is why non mining hodlers like difficulty increases. Not only more security, but also higher production cost.
December 04, 2020, 09:40:08 AM
Okay, which one of you told his parents about Bitcoin on Thanksgiving?
Source: https://twitter.com/Bloqport/status/1334864076934164480
Source: https://twitter.com/Bloqport/status/1334864076934164480
December 04, 2020, 09:36:16 AM
Tripled
December 04, 2020, 07:57:05 AM
I wonder what TERA is doing. I figured she'd be back when the bull started but probably made enough in the last two bubbles.
Why do people think TERA is a woman? IIRC, there was just one forum member who started calling TERA a 'she', TERA never corrected (which I understand if you care about opsec), and everybody just started taking over this habit. Not saying she cannot be a woman, but there is like zero indication about his/her gender. If anything, I would think that traders that are early adopters of bitcoin have a higher likelihood of being male (though undoubtedly some women are also early adopters and/or trader).I think she referred to herself as a she. At least, she never contradicted anyone calling her 'she'. Not that it means much of course.
December 04, 2020, 07:49:20 AM
i started mining in summer 2011, and yeah i thought fall/winter 2011 bitcoin was in a world of hurt. kept mining as the rigs heated my basement anyway.
2013-16 being boring? not boring really but i dont remember too much excitement either. i mean it was declared "dead" many more times too but after the 1st one i experienced in 2011 i was used to it i guess. no big deal.
2013-16 being boring? not boring really but i dont remember too much excitement either. i mean it was declared "dead" many more times too but after the 1st one i experienced in 2011 i was used to it i guess. no big deal.
As far as I understand, even in 2011 and 2013 to 2016, blocks continued to come out every 10 minutes.
Adoption continued to happen. Development continued to happen.
So being bored might be an attempt to focus on only one aspect, which was whether BTC happened to be in a hype period.
"world of hurt" was my viewpoint at the time. many others seemed worried too.
of course there were blocks every 10 minutes (the protocol is the protocol) and development still happened. however at the end of 2011 the price was at the point where i was mining at a slight loss (compared to just buying btc, which i wasnt about to do at that point) even counting the heating aspect, and the drop from $35 to like $3 was the 1st time i read about the "death spiral" bit. i thought it might fail as a project. but i did folding@home for free for years, so supporting the bitcoin project by mining for free was no different, as tthere was still the chance bitcoin might take off and be useful. money at that point was secondary to me. but for peeps that mined purely for money and as a business model it was surely different. and that mining model had to be profitable. sure looked to me at that point that aspect wasnt going so well. bitcoin wasnt in mainstream news then and exchanges seemed sketch af. mainstream mining was how to get the adoption curve up there, at least it seemed to me anyway.
mining and utility are different aspects of bitcoin. both are needed obviously, and both have different goals.
December 04, 2020, 07:22:06 AM
Quote
#bitcoin stock-to-flow cross asset model
-if BTC doesn't break it's historical path
-BTC market cap will approach gold market value $5-10T in 2021-2024
-and approach real estate market value $10-100T in 2024-2028
-after 2028 we can no longer interpolate and enter uncharted waters
-if BTC doesn't break it's historical path
-BTC market cap will approach gold market value $5-10T in 2021-2024
-and approach real estate market value $10-100T in 2024-2028
-after 2028 we can no longer interpolate and enter uncharted waters
https://twitter.com/100trillionUSD/status/1334834429177507844
December 04, 2020, 07:17:50 AM
Hom much in fees Bob? Don't tell me is 25 plain and simple
Why you gotta go and harsh my mellow like that ?
Is it to prod me into paying a little bit more to get an even $25 daily ? I mean, yeah, OK, after fees and all, it's not a clean $25, but it's better than a kick in the balls.
* BobLawblaw runs away from the thread, sobbing inconsolably
December 04, 2020, 06:51:08 AM
December 04, 2020, 06:32:55 AM
Call in for WEEKEND-PUMP
December 04, 2020, 06:16:45 AM
Completed another WDR and might try and do a 15km hop sometime over the next 48 hours. TFR in place. SN8 waiting to go.
... snip ...
#dyor
... snip ...
#dyor
+2 WOsmerit
Flight has been delayed till Monday now
Bonus 352 megapixel closeup of Starship SN8:
https://twitter.com/thejackbeyer/status/1334697060973604866
Back to corn, I think we'll make another attempt at $20k this weekend, if we fail we are going to retest $16k or lower (don't see it going down to less than $15k though, we've had that as support since Nov 6th)
+1 WOsMerit
December 04, 2020, 06:10:46 AM
Completed another WDR and might try and do a 15km hop sometime over the next 48 hours. TFR in place. SN8 waiting to go.
... snip ...
#dyor
... snip ...
#dyor
+2 WOsmerit
Flight has been delayed till Monday now
Bonus 352 megapixel closeup of Starship SN8:
https://twitter.com/thejackbeyer/status/1334697060973604866
Back to corn, I think we'll make another attempt at $20k this weekend, if we fail we are going to retest $16k or lower (don't see it going down to less than $15k though, we've had that as support since Nov 6th)
December 04, 2020, 06:02:52 AM
Hahah funny how some can change his bullish mind when he wants to buy more corn... So I hope for a deeeep weekend dump and then back bullish...
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