Bitcoin Price Thread
- Thread starter Magna
- Start date
what is the point of mining bitcoin below 4000??
Somebody, a HODLER, posted a long time ago that the price of mining would always be lower then the price of the coin. It seems it was one of the many "stories" that were told to motivate people to go into crypto's.
https://elitetrader.com/et/threads/fundamental-value-of-bitcoin.312707/page-34#post-4553264
https://elitetrader.com/et/threads/fundamental-value-of-bitcoin.312707/page-34#post-4553339
Last edited:
Swing and miss
volume says no bottom yet, sub $1K in process
Most probably will be the case
2018 has not been kind to bitcoin, but my guess is that bitcoin will not go below $3,000 as there's too much interest from "big money". I think 2019 will be a bull market for bitcoin (and crypto assets).
https://nulltx.com/bitcoin-price-possible-bottom/
Among these participants also includes Kelly Loeffler, CEO of Bakkt. One of the major causes behind the recent price depreciation has been the sudden move by Bakkt to delay launch of their futures options one month, to January 24 of next year. Loeffler addressed this situation, explaining that Bakkt had received more attention than they had anticipated. The decision was made to better accommodate the wealth of institutional players lining up to participate.
https://nulltx.com/bitcoin-price-possible-bottom/
Among these participants also includes Kelly Loeffler, CEO of Bakkt. One of the major causes behind the recent price depreciation has been the sudden move by Bakkt to delay launch of their futures options one month, to January 24 of next year. Loeffler addressed this situation, explaining that Bakkt had received more attention than they had anticipated. The decision was made to better accommodate the wealth of institutional players lining up to participate.
Just because somebody posted it, that doesn't make it true. He was most likely referring to the logic off miners turning of their machines if mining becomes unprofitable, thus causing the rest of the miners to stay at profit. But for certain reasons (sunk cost, hoping for a price increase) miners can mine unprofitably for longer periods of time. They already paid for the machines so the current cost is electricity what is less than buying coins outright.
There is really no logical explanation why the big interest would turn on at 3K and not at 4K or 5K...
If the actual cost is so low, why do they sell their expensive computers as scrap???
https://coinnewstelegraph.com/bitcoin-miners-selling-old-asics-for-scrap-as-btc-decline-worsens/