We will break $200 again - page 8. | Bitcointalksearch.org

BitmoreCoin

sr. member

Activity: 406

Merit: 250

Quote from: richardsNY on August 27, 2015, 11:02:52 AM

I think this time the support at $200 will be strong enough to not let it fall any lower. If it does go lower than $200 then it might stay there for a short while.

The cost of mining is about $150. If it is below $200 for some time, some miners will be shutdown.

notme

legendary

Activity: 1904

Merit: 1002

Quote from: jehst on August 27, 2015, 04:06:48 PM

Double-digits are possible. The protocol marches on relentlessly creating new bitcoin whether there's demand for them or not.

All the evidence so far indicates that bitcoin does poorly when the Chinese economy does poorly. Bitcoin is always down when the Chinese markets plunge.
The euro, Japanese yen, and Chinese yuan are all losing purchasing power. It's barely begun. Euro:dollar parity and 140 yen per dollar draw nearer. Even if people spend the same amount of fiat on bitcoin as before, they will end up supporting the price less because their currencies will be worth less.

Those with USD income will experience more purchasing power, but it will be canceled out by the increasing heaviness of their own USD-denominated debt: mortgages, student loans, sovereign debt, etc.

If bitcoin's price was going to break through $300 and stay there, then it would've happened on one of the past three attempts. There's no killer app here that can reverse the macroeconomic picture.

Many overeager bitcoin startups will go out of business. Many longs will be liquidated. (Going short is also dangerous because it doesn't take much money to spike the price and liquidate everyone.)

So if I were to have USD income and no debt I would win?

AtheistAKASaneBrain

hero member

Activity: 770

Merit: 509

Eventually the price will go up specially after 2021 when the next (not 2016 one) approaches.
By then fiat based capitalism may be exploding and BTC may experience insane ass uptrends of 6 figures per BTC.

jehst

hero member

Activity: 798

Merit: 1000

21 million. I want them all.

Double-digits are possible. The protocol marches on relentlessly creating new bitcoin whether there's demand for them or not.

All the evidence so far indicates that bitcoin does poorly when the Chinese economy does poorly. Bitcoin is always down when the Chinese markets plunge.
The euro, Japanese yen, and Chinese yuan are all losing purchasing power. It's barely begun. Euro:dollar parity and 140 yen per dollar draw nearer. Even if people spend the same amount of fiat on bitcoin as before, they will end up supporting the price less because their currencies will be worth less.

Those with USD income will experience more purchasing power, but it will be canceled out by the increasing heaviness of their own USD-denominated debt: mortgages, student loans, sovereign debt, etc.

If bitcoin's price was going to break through $300 and stay there, then it would've happened on one of the past three attempts. There's no killer app here that can reverse the macroeconomic picture.

Many overeager bitcoin startups will go out of business. Many longs will be liquidated. (Going short is also dangerous because it doesn't take much money to spike the price and liquidate everyone.)

smoothie

legendary

Activity: 2492

Merit: 1491

LEALANA Bitcoin Grim Reaper

Quote from: erikalui on August 27, 2015, 03:57:50 PM

It's reaching $235 now and it's only going to increase from there not decrease. The demand for bitcoins has increased and highly doubt it may even touch $200 now.

quoted for posterity

erikalui

legendary

Activity: 2632

Merit: 1094

It's reaching $235 now and it's only going to increase from there not decrease. The demand for bitcoins has increased and highly doubt it may even touch $200 now.

smoothie

legendary

Activity: 2492

Merit: 1491

LEALANA Bitcoin Grim Reaper

Quote from: tyrexs on August 27, 2015, 03:48:38 PM

Quote from: smoothie on August 27, 2015, 03:44:24 PM

Quote from: srgkrgkj on August 27, 2015, 02:39:37 PM

Quote from: smoothie on August 27, 2015, 02:19:41 PM

Quote from: srgkrgkj on August 27, 2015, 01:41:42 PM

Quote from: richardsNY on August 27, 2015, 11:02:52 AM

I think this time the support at $200 will be strong enough to not let it fall any lower. If it does go lower than $200 then it might stay there for a short while.

well the volumes and order books of exchanges show that $220 is pretty strong too defo 200$ is pretty unbreakable lol as miners cant mine with decent profit margins Cheesy

Miners do not have to always be profitable.

Look at precious metal mining. Lots of mining companies are mining at a loss.

I mean in temrs of bitcoin mining theres no possible way transactions alone can maintain the network >//>

How is that subject relevant NOW when there is a block mining reward of 25 BTC currently?

I hear next year only 12.5btc reward mining blocks. Will prices go up or otherwise bitcoin even drop dramatically. so sad to see the price of bitcoin now

The halving will be priced in before the actual halving occurs. This implies but not guarantees a price rise.

tyrexs

sr. member

Activity: 266

Merit: 250

Quote from: smoothie on August 27, 2015, 03:44:24 PM

Quote from: srgkrgkj on August 27, 2015, 02:39:37 PM

Quote from: smoothie on August 27, 2015, 02:19:41 PM

Quote from: srgkrgkj on August 27, 2015, 01:41:42 PM

Quote from: richardsNY on August 27, 2015, 11:02:52 AM

I think this time the support at $200 will be strong enough to not let it fall any lower. If it does go lower than $200 then it might stay there for a short while.

well the volumes and order books of exchanges show that $220 is pretty strong too defo 200$ is pretty unbreakable lol as miners cant mine with decent profit margins Cheesy

Miners do not have to always be profitable.

Look at precious metal mining. Lots of mining companies are mining at a loss.

I mean in temrs of bitcoin mining theres no possible way transactions alone can maintain the network >//>

How is that subject relevant NOW when there is a block mining reward of 25 BTC currently?

I hear next year only 12.5btc reward mining blocks. Will prices go up or otherwise bitcoin even drop dramatically. so sad to see the price of bitcoin now

smoothie

legendary

Activity: 2492

Merit: 1491

LEALANA Bitcoin Grim Reaper

Quote from: srgkrgkj on August 27, 2015, 02:39:37 PM

Quote from: smoothie on August 27, 2015, 02:19:41 PM

Quote from: srgkrgkj on August 27, 2015, 01:41:42 PM

Quote from: richardsNY on August 27, 2015, 11:02:52 AM

I think this time the support at $200 will be strong enough to not let it fall any lower. If it does go lower than $200 then it might stay there for a short while.

well the volumes and order books of exchanges show that $220 is pretty strong too defo 200$ is pretty unbreakable lol as miners cant mine with decent profit margins Cheesy

Miners do not have to always be profitable.

Look at precious metal mining. Lots of mining companies are mining at a loss.

I mean in temrs of bitcoin mining theres no possible way transactions alone can maintain the network >//>

How is that subject relevant NOW when there is a block mining reward of 25 BTC currently?

srgkrgkj

legendary

Activity: 1218

Merit: 1000

Quote from: smoothie on August 27, 2015, 02:19:41 PM

Quote from: srgkrgkj on August 27, 2015, 01:41:42 PM

Quote from: richardsNY on August 27, 2015, 11:02:52 AM

I think this time the support at $200 will be strong enough to not let it fall any lower. If it does go lower than $200 then it might stay there for a short while.

well the volumes and order books of exchanges show that $220 is pretty strong too defo 200$ is pretty unbreakable lol as miners cant mine with decent profit margins Cheesy

Miners do not have to always be profitable.

Look at precious metal mining. Lots of mining companies are mining at a loss.

I mean in temrs of bitcoin mining theres no possible way transactions alone can maintain the network >//>

smoothie

legendary

Activity: 2492

Merit: 1491

LEALANA Bitcoin Grim Reaper

Quote from: srgkrgkj on August 27, 2015, 01:41:42 PM

Quote from: richardsNY on August 27, 2015, 11:02:52 AM

I think this time the support at $200 will be strong enough to not let it fall any lower. If it does go lower than $200 then it might stay there for a short while.

well the volumes and order books of exchanges show that $220 is pretty strong too defo 200$ is pretty unbreakable lol as miners cant mine with decent profit margins Cheesy

Miners do not have to always be profitable.

Look at precious metal mining. Lots of mining companies are mining at a loss.

smoothie

legendary

Activity: 2492

Merit: 1491

LEALANA Bitcoin Grim Reaper

Quote from: MF Doom on August 27, 2015, 10:30:25 AM

Quote from: smoothie on August 27, 2015, 06:26:53 AM

Quote from: n2004al on August 27, 2015, 06:13:23 AM

Quote from: smoothie on August 27, 2015, 05:29:20 AM

It will happen.

I'm a long term bull. But in the short to medium term. We are generally going down. Best case (side ways for a while).

Probably hit $133 or so.

Just my smooth-cents. Grin

Why this pessimism mate? We need a strong bitcoin. It is the sign of independence and the symbol the people who believe in the freedom and unmanipulation of the money. If everyone which write about bitcoin will be so enthusiast as you bitcoin will go 10 bucks one after two months.

How is pessimism = price going down?

It is called calling a spade a spade. I'm calling it how I see it. Not pessimistic at all.

Bitcoin is strong. But if bitcoin is only strong because of how many dollars it cost to buy a bitcoin then the focus is off.

If you missed it I said "I'm a long term bull."

I think there needs to be a separate subsection of the speculation labeled perma-bulls only, where they can delude themselves into thinking price decreases are NEVER possible.

Anyway, I think most people on here realize there is great potential LONG TERM, but only some can realize there are a lot of challenges to overcome first, and price dips will happen here and there.

My question is this though: How did miners function/operate before the price was above $180?

Easy: mining difficulty was much much lower

smoothie

legendary

Activity: 2492

Merit: 1491

LEALANA Bitcoin Grim Reaper

Quote from: g-unit on August 27, 2015, 10:03:42 AM

If we break 200 again, it will be barely under 200 and short lived. Too much resistance there.

I think you mean to say support and not resistance.

srgkrgkj

legendary

Activity: 1218

Merit: 1000

Quote from: richardsNY on August 27, 2015, 11:02:52 AM

I think this time the support at $200 will be strong enough to not let it fall any lower. If it does go lower than $200 then it might stay there for a short while.

well the volumes and order books of exchanges show that $220 is pretty strong too defo 200$ is pretty unbreakable lol as miners cant mine with decent profit margins Cheesy

randy8777

legendary

Activity: 896

Merit: 1000

we need to leave the xt drama behind before we'll see a recovery. the price will surely go down again in the comming days. i only hope not much lower than $200. otherwise it will take a long time to get back the lost ground.

richardsNY

legendary

Activity: 1232

Merit: 1091

I think this time the support at $200 will be strong enough to not let it fall any lower. If it does go lower than $200 then it might stay there for a short while.

MF Doom

hero member

Activity: 560

Merit: 500

Quote from: smoothie on August 27, 2015, 06:26:53 AM

Quote from: n2004al on August 27, 2015, 06:13:23 AM

Quote from: smoothie on August 27, 2015, 05:29:20 AM

It will happen.

I'm a long term bull. But in the short to medium term. We are generally going down. Best case (side ways for a while).

Probably hit $133 or so.

Just my smooth-cents. Grin

Why this pessimism mate? We need a strong bitcoin. It is the sign of independence and the symbol the people who believe in the freedom and unmanipulation of the money. If everyone which write about bitcoin will be so enthusiast as you bitcoin will go 10 bucks one after two months.

How is pessimism = price going down?

It is called calling a spade a spade. I'm calling it how I see it. Not pessimistic at all.

Bitcoin is strong. But if bitcoin is only strong because of how many dollars it cost to buy a bitcoin then the focus is off.

If you missed it I said "I'm a long term bull."

I think there needs to be a separate subsection of the speculation labeled perma-bulls only, where they can delude themselves into thinking price decreases are NEVER possible.

Anyway, I think most people on here realize there is great potential LONG TERM, but only some can realize there are a lot of challenges to overcome first, and price dips will happen here and there.

My question is this though: How did miners function/operate before the price was above $180?

flock123

member

Activity: 98

Merit: 10

if it occurs, may be a lot of people who do not wear anymore bitcoin

g-unit

sr. member

Activity: 432

Merit: 250

If we break 200 again, it will be barely under 200 and short lived. Too much resistance there.

manselr

legendary

Activity: 868

Merit: 1006

It could perfectly happen and there's nothing to fear about it. Since Bitcoin is a self regulated system there will always be someone profiting. If the big miners are mad at the low price, the small miners will come in and take their place. That's how it works. Any way, if you are here holding long term because you know eventually Bitcoin will have invested at least 1% of worldwide fiat, you will not care about 200 breaking again. And it only takes 1% of fiat to move into bitcoin for the price to be about 100K per BTC.

Topic: We will break $200 again - page 8. (Read 10173 times)