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Adar posted:Chinese miners are saying just under 4K is the breakeven point for the biggest farms, so an extended price plummet far below that might do it (but some of those miners were likely the people propping it up at 6k for a year so...) I thought the Chinese megafarms were mainly there as a money laundering operation to get cash out of China, and that any actual profit from selling the bitcoins was a bonus. A lot of them would probably be willing to keep running at a technical loss, depending on how much of a haircut the operators are willing to accept.
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Nov 20, 2018 20:31
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Powershift posted:None of that hardware is good for anything but bitcoin mining The fact that it was built for that purpose in the first place is a waste.
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Nov 20, 2018 20:32
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Powershift posted:None of that hardware is good for anything but bitcoin mining im sure they'll scrap it for the steel
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Nov 20, 2018 20:39
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Powershift posted:None of that hardware is good for anything after spending the last three months perpetually overclocked to mine bitcoins
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Nov 20, 2018 20:39
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Soylent Yellow posted:I thought the Chinese megafarms were mainly there as a money laundering operation to get cash out of China, and that any actual profit from selling the bitcoins was a bonus. A lot of them would probably be willing to keep running at a technical loss, depending on how much of a haircut the operators are willing to accept. I've been operating under this hypothesis as well, but then, why wouldn't the Chinese government be bringing the hammer down on miners, then? It's not as if they're hard to find.
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Nov 20, 2018 20:41
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Soylent Yellow posted:I thought the Chinese megafarms were mainly there as a money laundering operation to get cash out of China, and that any actual profit from selling the bitcoins was a bonus. A lot of them would probably be willing to keep running at a technical loss, depending on how much of a haircut the operators are willing to accept. That was the case a couple of years ago. Since then Bitmain in particular has simply gotten too big and now acts as a regular business. The people with stashes of yuan did the next best thing totally not a scam Chinese ICOs
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Nov 20, 2018 20:46
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Nasty Old Randy posted:I made a bunch of money off IBM buying out red hat last month, I might throw some of my evil central banker fiat currency into bitcoin so I can insist that its definitely going to be worth $250000000 next week. you should definitely do that, don't let any of these goons trick you out of a good investment bitcoin's value is diving now, but now's the exact right time to buy. you'll be kicking yourself if you don't buy when the price is back up to $6k in a couple months
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Nov 20, 2018 20:52
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I would imagine it'd be difficult to run a Chinese mining operation even in bumfuck province without at least a local official you'd need to bribe knowing about it. Said official probably would allow even a 1:1 yuan to dollar launder especially if there's a potential moon bonus. Hell a national level party member might be okay with it if it's all an excuse to bring in foreign money but who knows once it drops
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Nov 20, 2018 20:56
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My Linux Rig posted:you should definitely do that, don't let any of these goons trick you out of a good investment People have been talking about this "great buying opportunity" all the way down from 19000.
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Nov 20, 2018 21:07
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Lambert posted:People have been talking about this "great buying opportunity" all the way down from 19000. yes but now it’s a really great buying opportunity
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Nov 20, 2018 21:10
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Goddamn, it's below 4400
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Nov 20, 2018 21:11
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It's settling... IT'S SETTLING I SAY
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Nov 20, 2018 21:13
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Pendent posted:Goddamn, it's below 4400 It went below 4200 earlier
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Nov 20, 2018 21:14
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My Linux Rig posted:yes but now it’s a really great buying opportunity Buy high, sell low!
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Nov 20, 2018 21:14
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The funniest thing to me is all the Coiners that have been yelling "this is capitulation!" after every drop. Apparently, there needs to be "capitulation" before the market can rise again. That's why they label every temporary new low "capitulation".
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Nov 20, 2018 21:15
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Heath posted:It went below 4200 earlier Ugh, I'm getting close.
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Nov 20, 2018 21:15
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China is waking up
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Nov 20, 2018 21:18
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holy gently caress 4150
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Nov 20, 2018 21:20
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4100 soon. Err...4000 soon.
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Nov 20, 2018 21:22
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 under $4100 now. buy walls keep melting
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Nov 20, 2018 21:22
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Big lol if this thread is gonna get another title change soon Is it time to think of new ones?
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Nov 20, 2018 21:23
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just need to reiterate again how funny it is that people are losing their life savings and didn't cut their losses because they were afraid that anonymous redditors would think they are weak
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Nov 20, 2018 21:24
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is pepsi ok posted:just need to reiterate again how funny it is that people are losing their life savings and didn't cut their losses because they were afraid that anonymous redditors would think they are weak 
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Nov 20, 2018 21:26
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remember that all you no-coiners are directly responsible for this price drop and you're ruining lives also please stop making fun of bitcoiner life choices but also remember that when hyperbitcoinization happens you'll be sorry YOU'LL ALL BE SORRY
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Nov 20, 2018 21:28
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It’s what it feels like in kerbal when you realize you’re not making it to the moon.
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Nov 20, 2018 21:29
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Burt Sexual posted:Buy high, sell low! Excuse me but the high was over $19k so buying now would be buying low
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Nov 20, 2018 21:30
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I have a real time bitcoin ticker and it is trying so, so loving hard to get back to 4200. It's slightly disturbing how often the number is flickering Slipped under 4100 and little signs of it clawing back up 
EorayMel fucked around with this message at 21:34 on Nov 20, 2018 |
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Nov 20, 2018 21:31
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tether also went down to 93 cents on the dollar, the gap between tether and non-tether exchanges is up to 7%, and this is after bitfinex got a 50 million tether infusion this morning. at the risk of jinxing it this may be It
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Nov 20, 2018 21:34
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This is all good for bitcoin. It’s not so good for my initial $20 though lol.
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Nov 20, 2018 21:35
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Okay there's a small bounce back. For now 
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Nov 20, 2018 21:36
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Is there a SA crypto thread in a different forum with true believers in it? Or is it all poo poo on crypto 24/7?
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Nov 20, 2018 21:37
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MarcusSA posted:This is all good for bitcoin. don’t worry, it’ll eventually go back up In fact you should buy some more while they’re cheap
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Nov 20, 2018 21:37
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Waltzing Along posted:Is there a SA crypto thread in a different forum with true believers in it? Or is it all poo poo on crypto 24/7? all poo poo on all crypto 24/7
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Nov 20, 2018 21:37
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Tiny Bug Child posted:tether also went down to 93 cents on the dollar, the gap between tether and non-tether exchanges is up to 7%, and this is after bitfinex got a 50 million tether infusion this morning. at the risk of jinxing it this may be It This strikes me as bad. Spending $1 to get $.93 of buying power seems a bad investment.
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Nov 20, 2018 21:37
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My Linux Rig posted:don’t worry, it’ll eventually go back up  I think you might be right. I’ll be rich!
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Nov 20, 2018 21:38
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Waltzing Along posted:This strikes me as bad. Spending $1 to get $.93 of buying power seems a bad investment. Bitcoin.txt
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Nov 20, 2018 21:38
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Waltzing Along posted:Is there a SA crypto thread in a different forum with true believers in it? Or is it all poo poo on crypto 24/7? There is! You’ll find it here
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Nov 20, 2018 21:38
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Waltzing Along posted:Is there a SA crypto thread in a different forum with true believers in it? Or is it all poo poo on crypto 24/7? All the true believers post in https://forums.somethingawful.com/showthread.php?threadid=3853638 One of them even wrote a book about bitcoin!
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Nov 20, 2018 21:39
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Is this a metaphor for bitcoin?
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Nov 20, 2018 21:42
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PostNouveau posted:All the true believers post in lmao, that thread is more of a shitpost thread than this one
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