Thread: RIP Bitcoin

Originally Posted by Dragonfly

a calculation is not intrinsic value FFS, even a retard like a plumber could get that

so, dragonfly: your prediction is that btc will go to 0 (or what level) and by when?

Originally Posted by Farangrakthai

Originally Posted by Dragonfly

it's crashing

not really.

or at least not since february when it hit 6,800.

if it breaks below 6,000 and 5,000, then yep some of those guys "hodling for the lambo" might throw in the towel and it will drop to maybe $2,000?

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some research studies on a fair value of btc have put it at about $2,000, anyways.

posted this link to a study a few months ago and it's findings have proved accurate (so far): sideways to downward movement for the rest of the year: https://arxiv.org/pdf/1803.05663.pdf

btc 6 month chart:

it has no fundamental value, it's indeed zero

it has a carried forward value though, which is the cost of carrying the "currency" to delivery, and that cost is quite high

as it takes more power and more electricity to create bitcoins, one could argue that is carrying value is increasing, and therefore the price of bitcoins

problem is when demand stops, and the need to create more bitcoins decrease, the carrying value drops significantly, like we are witnessing now

when interests in bitcoins is being challenged by a big fall in prices, then the carrying value absorb all the shock, which makes the price of BTC very fragile and volatile

that explains it why we see all those wild swings, it's all based on hot air, literally

agree with most of that, especially about the miners and whether the network will come under a 51% attack, when most miners find they're not making money doing the mining work.

though,

Originally Posted by Dragonfly

problem is when demand stops, and the need to create more bitcoins decrease, the carrying value drops significantly,

one thing btc has going for it is that the supply of btc is finite.

that's even worse, there is no cost of carrying, and therefore the price meets its fundamental value, that is zero

it's like a barrel of oil, in a world where there is no use to it, and there is no cost to extract it anymore, because it ran out for example, then it has no value and it just sit there

One BTC is mined every ten minutes, and the frequency halves every 4 years so that the last BTC will be mined around 2140 after another 32 halving events. By 2136, today's daily quota of 144 BTC will be reduced to just 0.00000168 BTC.

https://bitcoin.stackexchange.com/qu...-mined-per-day

Ok, so that's a long way off, but to get there the frequency still halves every 4 years. McAfee (a mathematician) worked out that the cost of mining the last BTC would be from several million to several hundred million $$, and for the million or so before that the cost would rise from several hundred thousand $$ to several millions. Quite simply, the value of BTC must by those times justify the risk since mining comes with no guarantee of success. So in order for the last couple of million (only 5 million to go as of 2018) to be mined, the BTC price would need to be astronomical, otherwise they will never be mined.

^ Interesting piece (from March) about the cost of mining one BTC, the profit margin etc. in each country from March 2018.

https://www.financemagnates.com/cryp...tcoin-country/

TRON will today be released on its own blockchain in open beta. Public testing will take place this month, and then TRON will “shed its ERC20 identity and become a true token within the TRON ecosystem.”
The genesis block will be laid on the 25th of June, a fateful date which the team is calling “Independence Day”.

https://www.financemagnates.com/cryp...-begins-today/

Was gonna move my TRX into something else a while ago, but decided to leave them long-term.

so what will happen to your ERC20 token ?

EOS is supposed to be doing the same very shortly

will ETH sh1t itself

Originally Posted by baldrick

will ETH sh1t itself

Hope not.

My short-term buy at 36k at the end of Jan is pretty much exactly half now at 18k.

Originally Posted by OhOh

Your link suggests that Venezuela, with US$531 electricity cost / BC is the cheapest, but the profit is the least. Why is that?

i noticed that, too. the chart isn't correct as the "profitability" is using the figures from the other chart (cost to mine).

Now that you mention it, the source: 'Elite Fixtures' may mainly focus on sinks, toilets and bathroom appliances.

......

Originally Posted by Luigi

Now that you mention it, the source: 'Elite Fixtures' may mainly focus on sinks, toilets and bathroom appliances.

This is definitely faster money than waiting for Bitcoin

https://bangkok.craigslist.co.th/sks...589326598.html


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what a frigging scam, anyone with a brain cell should have red alarms flashing now when they see all that silly bitcoin propaganda

except Baldrick of course, he is part of the mining scam

apparently, there wasn't much volume behind the latest btc minor rally.

thus, it fizzled out.

btc 7 day chart:




Daily chart:

https://www.coindesk.com/failed-brea...ar-tug-of-war/

View

• Bitcoin's drop back inside the falling channel as seen in the daily chart indicates the immediate upward pressure has eased.
• Acceptance below $7,260 would confirm the corrective rally has ended and could yield a drop to $6,980 (triangle support).
• A daily close below $6,980 would signal a revival of the sell-off from the record high of $19,891. In this case, BTC could revisit and possibly break below the February low of $6,000.
• A short-term bullish revival is seen only above Sunday's high of $7,779.

Originally Posted by Dragonfly

except Baldrick of course, he is part of the mining scam

an interesting article for those of you interested in ASICs - https://halongmining.com/blog/2018/0...turing-update/

like CPU and GPU manufacturers , ASIC manufacturers are encountering the similar physic issues when moving to 10 nano meter ICs

this was an interesting turn of phrase

some of the losses incurred by the new 10nm process (specifically, electrons are more difficult to control which causes efficiency loss

Originally Posted by baldrick

electrons are more difficult to control

Bingo, the worlds greatest problem has finally been discovered.

It's those nasty, evil, uncontrollable sub 10nm. electrons. Selfish bastards, don't they realise how much they have cost to raise?

THE LORD, Uncle Xi, Maggie May, Oedipean Macron and Moody Merkel are all off the hook.

Originally Posted by baldrick

an interesting article for those of you interested in ASICs - https://halongmining.com/blog/2018/0...turing-update/

like CPU and GPU manufacturers , ASIC manufacturers are encountering the similar physic issues when moving to 10 nano meter ICs

this was an interesting turn of phrase

ASIC is so fucking 1990s, GPUs is the future, CPUs is the past

soon we might see OS and PCs running entirely on GPUs. maybe someone is trying already

they have been saying this since 2010, all hot air and PR shit

crypto nutters don't want to be under SEC regulation, and for now they are

I am thinking about buying some more ASICs and sending them to the colo in the US I am using for my DCR1

INNOSILICON