Bitcoins are officially donkdown

[unchainedghost]

sorry to clutter but should I move off bitpay?

also I have a friend that keeps yapping about maidsafe coin.

I haven't heard anything about it until him, read a little, I don't see anything extraordinary. does anyone here own any or got any opinions.

[chinamaniac]

I was going to move all of mine onto a trezor but all indications I am getting from sharps is it will be fine, but who fucking knows really

[SetofKs]

whats a fork?

[ftpjesus]

I have a hedge set up to short BTC at 2500 with a SL at 2600 and a TP of 1500 (likely if it bombs it doesn't go that low but don't want to miss too much of the profit have a Trailing Stop setup).. Ironic the BCC token is trading damn near at $500 now which is a little surprising for something that many claim don't think is going to gain traction.. I don't think we see the full split ala ETH/ETC but makes me wonder..

[GringoStar]

The fork is real. Bitcoin Cash is here.

https://blog.coinbase.com/what-is-a-...k-cba07fe73ef1

[sonatine]

cute little tidbit:


95% of all ransomeware bitcoins end up getting cashed out through btc-e after laundering.


which speaks volumes to not just the nature of btc-e but to the effectiveness of laundering.

[Sidewinder]

The fork is real. Bitcoin Cash is here.

https://blog.coinbase.com/what-is-a-...k-cba07fe73ef1

They are in the process of stiffing the world for the BCC. They sent out a fake email urging people to w/d their BTC if they wanted their share of the new BCC, but they aren't sending the new transfers to the blockchain, or they are doing it very very very very slowly. This insures that at some point there will be a ton of "pending" btc xfers out of Coinbase on Aug 1st that never get sent out.

I am not sure if they are using this as a chance to rob everyone or not but it sure feels like it. I mean - why are w/ds taking 12 hours + to initiate?

Pretty awesome if they get away with it.

They did this before when ETH split, but they eventually gave everyone their share of the forked ETH coin. Not so sure this going to happen as we are talking about a boatload of fucking money if BCC keeps pre-trading at these levels and still * ALOT * of money if it goes to < $10.

Unbelievable what is happening. There is no reason it should take 12+ hours to send a transfer to the blockchain.

If BCC (Bitcoin Cash) goes to 0, then none of this matters but its going to be worth a lot right after the fork. Maybe they plan to instadump everyon'es BCC but we are talking about a lot of fucking money right now that no one is going to see.

[Brittney Griner's Clit]

bumping back a few of the more popular threads I buried to page 2.

[MumblesBadly]

Cryptocurrency miners are renting entire Boeing 747s just to stay in the game
http://www.businessinsider.com/crypt...ng-747s-2017-7

In a mining boom, buy the shovels.

It's one of the oldest investing axioms, and anyone with shares in chipmakers AMD and Nvidia are reaping the rewards right now.

As the price of Bitcoin and Ethereum explodes, cryptocurrency miners are in a race to beat each other to the riches, and graphics processors are the tools they need.

They're now in such short supply, one miner, Marco Streng, chief executive of Genesis Mining, made this extraordinary admission to Quartz:

"We are renting entire airplanes, Boeing 747s, to ship on time. Anything else, like shipping by sea, loses so much opportunity."

[sonatine]

Cryptocurrency miners are renting entire Boeing 747s just to stay in the game
http://www.businessinsider.com/crypt...ng-747s-2017-7

In a mining boom, buy the shovels.

It's one of the oldest investing axioms, and anyone with shares in chipmakers AMD and Nvidia are reaping the rewards right now.

As the price of Bitcoin and Ethereum explodes, cryptocurrency miners are in a race to beat each other to the riches, and graphics processors are the tools they need.

They're now in such short supply, one miner, Marco Streng, chief executive of Genesis Mining, made this extraordinary admission to Quartz:

"We are renting entire airplanes, Boeing 747s, to ship on time. Anything else, like shipping by sea, loses so much opportunity."

Everything about this is wrong. Mining is over, everyone is dumping their rigs, and a massive adjustment is on the horizon for the chipmakers. But great job on adding a picture of a 747 for no reason at all because you're absolutely terrible at this.

[MumblesBadly]

Cryptocurrency miners are renting entire Boeing 747s just to stay in the game
http://www.businessinsider.com/crypt...ng-747s-2017-7

Everything about this is wrong. Mining is over, everyone is dumping their rigs, and a massive adjustment is on the horizon for the chipmakers. But great job on adding a picture of a 747 for no reason at all because you're absolutely terrible at this.

In which countries? Ones without government subsidized electricity production? And with old, slower chips? Of course they would be. Because the Chinese competition is likely crushing them.



P.S. The pic of a 747 is from the article, genius.

[sonatine]

mumbles youre a cancer on this community, you're literally a drooling retard in the back of the class who wont shut the fuck up, ever, and we all have to sit here and pretend its not happening but the truth is this:


we all wish you would find a new hobby.


every single person here, mumbles.

[LarryLaffer]

mumbles youre a cancer on this community, you're literally a drooling retard in the back of the class who wont shut the fuck up, ever, and we all have to sit here and pretend its not happening but the truth is this:


we all wish you would find a new hobby.


every single person here, mumbles.

if he's in the back of the class, does that mean you're in the same class as him (special ed).

[chinamaniac]

Cryptocurrency miners are renting entire Boeing 747s just to stay in the game
http://www.businessinsider.com/crypt...ng-747s-2017-7

Everything about this is wrong. Mining is over, everyone is dumping their rigs, and a massive adjustment is on the horizon for the chipmakers. But great job on adding a picture of a 747 for no reason at all because you're absolutely terrible at this.

Fork is shit, BTC keep going up past 3 days

:moon

[sonatine]

No one is buying new GPUs for BTC tho, it was all for eth, and those days are super, super over.

[gimmick]

No one is buying new GPUs for BTC tho, it was all for eth, and those days are super, super over.

ETH is slightly more profitable to mine now than it was at the start of the year. 20x price vs 15x more mining. It wasn't that likely to see a huge price increase in the next 5 months back then, but now it's more or less impossible. I assume it doesn't really matter that much since nothing goes under the radar for long and changing from one coin to another is neither costly nor time consuming. Something like you aren't locked to a coin for months but you really don't want to be switching daily either.

Guessing it's still too costly unless you're "stealing" something. Dunno.

[sonatine]

No one is buying new GPUs for BTC tho, it was all for eth, and those days are super, super over.

ETH is slightly more profitable to mine now than it was at the start of the year. 20x price vs 15x more mining. It wasn't that likely to see a huge price increase in the next 5 months back then, but now it's more or less impossible. I assume it doesn't really matter that much since nothing goes under the radar for long and changing from one coin to another is neither costly nor time consuming. Something like you aren't locked to a coin for months but you really don't want to be switching daily either.

Guessing it's still too costly unless you're "stealing" something. Dunno.

i stand corrected, i had seen the difficulty skyrocket and everyone has been dumping their mining rigs but yeah, youre right. the breakeven point is gross and its all going to hell soon but still, point taken.

[MumblesBadly]

mumbles youre a cancer on this community, you're literally a drooling retard in the back of the class who wont shut the fuck up, ever, and we all have to sit here and pretend its not happening but the truth is this:


we all wish you would find a new hobby.


every single person here, mumbles.

Of course they do. That way they wont be distracted by my obviously ignorant criticisms of your prescience regarding the demise of bitcoin. Like I starting making about two years ago.

 

Or not

[gimmick]

ETH is slightly more profitable to mine now than it was at the start of the year. 20x price vs 15x more mining. It wasn't that likely to see a huge price increase in the next 5 months back then, but now it's more or less impossible. I assume it doesn't really matter that much since nothing goes under the radar for long and changing from one coin to another is neither costly nor time consuming. Something like you aren't locked to a coin for months but you really don't want to be switching daily either.

Guessing it's still too costly unless you're "stealing" something. Dunno.

i stand corrected, i had seen the difficulty skyrocket and everyone has been dumping their mining rigs but yeah, youre right. the breakeven point is gross and its all going to hell soon but still, point taken.

I looked a bit more to this and it's few dollars in profit per GPU with typical power costs. Something like 80 GPUs for a coin per day atm. So it's profitable if you don't burn hardware too much. And then there's the issue that you might need to upgrade your hardware too often ect.

It's profitable if you can do it big or steal something basically. Otherwise it's a hassle for a breakeven activity.

[sonatine]

ETH is slightly more profitable to mine now than it was at the start of the year. 20x price vs 15x more mining. It wasn't that likely to see a huge price increase in the next 5 months back then, but now it's more or less impossible. I assume it doesn't really matter that much since nothing goes under the radar for long and changing from one coin to another is neither costly nor time consuming. Something like you aren't locked to a coin for months but you really don't want to be switching daily either.

Guessing it's still too costly unless you're "stealing" something. Dunno.

i stand corrected, i had seen the difficulty skyrocket and everyone has been dumping their mining rigs but yeah, youre right. the breakeven point is gross and its all going to hell soon but still, point taken.

ok i actually wasnt as wrong as i thought here. i went to an old mining calculator link that actually had an 8 week old difficulty embedded in it, so when i refreshed and recalculated, profitability on a 130 MH/s rig (5 gpus) went from about $800 a month to about $120 a month.


so yeah fuck that, which is why the mining market has effectively died, ebay is flooded with cards, and the gpu salesfags are going to have to deal with mortal human sales again.