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So at what point does Chinese mining become unprofitable? Because then the whole thing is hosed, right?
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Nov 14, 2018 20:58
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Murderion posted:So at what point does Chinese mining become unprofitable? Because then the whole thing is hosed, right? Not necessarily. They can adjust difficulty to bring required energy waste down but it takes time so, yeah it could possibly spiral out of control, we might see the start of it right now especially since some of the big pools are now switching to other coins and need to sell through BTC which puts even more pressure on the price.
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Nov 14, 2018 21:03
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It's less about profitability than it is about turning yuan into dollars. So the question is how much demand there is for that as the price falls and the haircut the miners take on the exchange grows.
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Nov 14, 2018 21:03
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Oldstench posted:ghostty - please tell us why this is a good thing soon btc will be worth $10 and then it will go to $250000 because 7.5 billion people will buy all the btc at $10
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Nov 14, 2018 21:29
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I check bitcoin price about once a day to see if it's crashed yet and I got really excited when I saw this: 
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Nov 14, 2018 21:49
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Aw man, I missed the sub 5500. Looks like it got down to 5324. Mmmmm, so sexy.
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Nov 14, 2018 22:31
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Please hit 4999 so I can come tonight
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Nov 14, 2018 23:04
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I'm savoring this number go down
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Nov 14, 2018 23:08
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Just a heads up, the price is going down because everyone is dumping their tethers into bcash diamond gold. that's the horse to put your tethers on.
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Nov 14, 2018 23:12
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This thing will probably bounce back to above 6k and then shoot up to 8k in 12 hours. Buy baby Buy.
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Nov 14, 2018 23:12
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BITCOIN IS CRASHING SELL SELL SELL
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Nov 14, 2018 23:23
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Powered Descent posted:BITCOIN IS CRASHING SELL SELL SELL crashing to NEW HEIGHTS! buy buy BYE BYE
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Nov 14, 2018 23:26
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This is good for Bitcoin Cash.
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Nov 14, 2018 23:51
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Sashimi posted:This is good for Bitcoin Cash. which one?
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Nov 15, 2018 00:12
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Powershift posted:which one? Bitcoin Crash
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Nov 15, 2018 00:20
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This is just people converting their bitcoin to fiat to buy cheap TVs on black Friday, nothing to be concerned about.
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Nov 15, 2018 00:25
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Gotta love how Bitcoin does sweet gently caress all for an entire month, then in the span of just 2 hours:
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Nov 15, 2018 00:32
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Tether is down to 95c and there is growing concern about liquidity for Bitfinex the people backing Tether.  this is gonna get worse before it gets better.
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Nov 15, 2018 00:33
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By worse you mean funnier right?
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Nov 15, 2018 00:36
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https://athcoinindex.com/ EVERY crypto is down 70-90% from its all time high
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Nov 15, 2018 00:37
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VitalSigns posted:Dumb question: why would miners want to stop other miners from switching to BCH? It would be, up until there were a small enough number of those big miners that people got worried about one player having more than 50% of the hash power. That throws the whole currency into risk, because instead of being "decentralized autonomous crypto-currency" it's suddenly "the bank of some chinese guy named Ding". You can still buy and sell coins, but Ding calls the shots. Ding can reverse your transactions or take your money. Ding's Bitcoins have a lot more risks than old Bitcoins, which means less value. The Chinese guys don't actually want to be Ding, because what they really want US dollars or similar. If bitcoin and BCH reverse positions, there's a huge penalty to being the last to jump ship.
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Nov 15, 2018 01:20
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Nov 15, 2018 02:50
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Bitcoiners having a protocol fight and billions are lost in a few hours lol
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Nov 15, 2018 03:05
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Powershift posted:Just a heads up, the price is going down because everyone is dumping their tethers into bcash diamond gold. that's the horse to put your tethers on. This sounds like it's made up and it also seems equally plausible. hailthefish posted:By worse you mean funnier right? Yes.
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Nov 15, 2018 03:21
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Toys For rear end Bum posted:Gotta love how Bitcoin does sweet gently caress all for an entire month, then in the span of just 2 hours:
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Nov 15, 2018 03:52
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Pawn 17 posted:Bitcoiners having a protocol fight and billions are lost in a few hours lol No Bitcoin is constant, the US dollar just spiked in value, because fiat is hopelessly unstable and volatile.
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Nov 15, 2018 03:54
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remember when bitcoin's "volatility" was its achilles heel? oohhhh but now that it's been (and remains) stable for a month somehow that's a problem
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Nov 15, 2018 03:56
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Pawn 17 posted:Bitcoiners having a protocol fight and billions are lost in a few hours lol Well, on-paper billions anyway. I'll sell you this ballpoint pen for one billion dollars, and at the same time you sell me that pad of post-it notes for one billion dollars, and then between us both we'll have two billion dollars in assets. I'll stop at the dollar store and pick up a bag of pens and then we'll have another ten billion dollars!
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Nov 15, 2018 04:07
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Powered Descent posted:Well, on-paper billions anyway. Well yeah, it’s all funny money being sold to the greater fool. But there are still many investors dumping millions into the crypto industry and they are going to see that money disappear.
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Nov 15, 2018 04:36
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bummed at the thought of someday having to dance for a bitcoin billionaire
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Nov 15, 2018 04:41
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Guess this is a good time to post this old Bizonacci video: results of the Crab-17 operation, Stage 2, are a stunning success: https://www.youtube.com/watch?v=y28Diszaoo4 Work-safe, but starts off _very_ loud.
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Nov 15, 2018 04:52
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Gazpacho posted:nice FUD doofus, that chart isn't zero-based. if you cropped out the right half & rescaled the y axis to fit it would look the same during the period when supposedly nothing was happening  to the moon!
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Nov 15, 2018 05:16
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The White Dragon posted:
Is this even in log scale, stop shilling!
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Nov 15, 2018 06:18
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Motronic posted:This sounds like it's made up and it also seems equally plausible. You missed the boat, Bcash Diamond Gold Just forked into Bcash Diamond Gold Platinum and Bcash Diamond Gold Titanium.
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Nov 15, 2018 06:21
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 Down we go again!
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Nov 15, 2018 11:54
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Klyith posted:It would be, up until there were a small enough number of those big miners that people got worried about one player having more than 50% of the hash power. That throws the whole currency into risk, because instead of being "decentralized autonomous crypto-currency" it's suddenly "the bank of some chinese guy named Ding". You can still buy and sell coins, but Ding calls the shots. Ding can reverse your transactions or take your money. Ding's Bitcoins have a lot more risks than old Bitcoins, which means less value. If you have more than 50% of the hashing power, you can use it to mine your own private chain and scam exchanges that way by selling and then reversing transactions. Your chain will always be the longest as soon as you publicize it. This was done to great effect with a Bitcoin fork some months back. Pawn 17 posted:Bitcoiners having a protocol fight and billions are lost in a few hours lol There's no way the protocol fight has anything to do with the Bitcoin price. BCH is pretty much irrelevant. Gazpacho posted:remember when bitcoin's "volatility" was its achilles heel? oohhhh but now that it's been (and remains) stable for a month somehow that's a problem Bitcoin was never stable. And it dropped 15% in the span of a day, that's not "remains stable" either. Lambert fucked around with this message at 12:00 on Nov 15, 2018 |
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Nov 15, 2018 11:57
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Toys For rear end Bum posted:
this is like steam sale, guys!
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Nov 15, 2018 12:20
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Is this the end?
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Nov 15, 2018 12:37
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I had a weird moment when i searched "btc usd" on ddg and it came up with 5800 dollars. I thought for a second 1 bitcoin was worth 5800 US dollars and was seriously confused as to how that could be possible, how could the price rise so dramatically, how can one of these things possibly be worth thousands of real dollars, I figured I must have got the wrong bitcoin or something, then I remembered that bitcoin is the highest priced crypto and the last time I searched it two days ago it was 6300. I think this means it has a long way to fall.
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Nov 15, 2018 13:26
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bitcoin can't drop below 6k, well known absolute freakshow of an idiot said so
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Nov 15, 2018 13:43
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