however miners are forced to sell soemthing to cover their bills, which based on a simple math should be
at 0.05 per electricity and 400 peta, with s5(let's assume so, the shift to s7 is still premature for allt he miners, i doubt everyone is running s7) you around 350k s5
so 210k kw x 0.05 x 30 = $315k monthly(829 bitcoin), now profit is $1368000(3600 x 380) = 1M inprofit
so they dump around 830 btc each day to cover cost, this is the minimum that they are dumping
Topic: why bitcoin price can only surge ... explanation. - page 2. (Read 2179 times)
The stability around $220-$240 is not weird. Bitcoin was worth that value since people weren't willing to sell their coins for anything less. Even pools were not in the mood to sell their coins for such a price. They have done it throughout the peak to $500.
yes i didn't mean weird in a negative way , but that a cartel is formed like in all markets .Everything has to have a price. Look at cocaine , oil or banana's.
or just look at waht happended 3 hours ago https://bitcoinwisdom.com/markets/bitstamp/btcusd
Just watched also an intersting clip about price
https://www.youtube.com/watch?v=DFfHGGhCxCM
Yes, that's right. Like other markets, Bitcoin also gets manipulated by traders/groups with very deep pockets. People who own the most also risk to lose the most. In some ways they have to keep supporting the price to not be the loser and lose millions of dollars.
What's up with Bitstamp, you mean the dump to $371? I think some one cashed out or just over reacted by selling. Bitfinex went to $375 and somewhat recovered. I think we'll see these dumps more often the comming days/weeks.
The stability around $220-$240 is not weird. Bitcoin was worth that value since people weren't willing to sell their coins for anything less. Even pools were not in the mood to sell their coins for such a price. They have done it throughout the peak to $500.
yes i didn't mean weird in a negative way , but that a cartel is formed like in all markets .Everything has to have a price. Look at cocaine , oil or banana's.
or just look at waht happended 3 hours ago https://bitcoinwisdom.com/markets/bitstamp/btcusd
Just watched also an intersting clip about price
https://www.youtube.com/watch?v=DFfHGGhCxCM
The stability around $220-$240 is not weird. Bitcoin was worth that value since people weren't willing to sell their coins for anything less. Even pools were not in the mood to sell their coins for such a price. They have done it throughout the peak to $500.
Holders and speculators can make bitcoin price surge as we seen last 30 days to 500$.
Then speculators sell and we see a correction to 400$
BUT
Big Bitcoin miners and Big Vendors can start stabilising the price by refusing to sell their production under a certain price
and here we have it stability since 6 days now between 375-395 $ . I suspect them even to form a cartel that can buy when the price goes under their margin target . Remember the stability around 250$ for months it was weird.
Then speculators sell and we see a correction to 400$
BUT
Big Bitcoin miners and Big Vendors can start stabilising the price by refusing to sell their production under a certain price
and here we have it stability since 6 days now between 375-395 $ . I suspect them even to form a cartel that can buy when the price goes under their margin target . Remember the stability around 250$ for months it was weird.
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