JUST

Thats why btc will be worth over a million in 2020..due to the cost of mining it.

you are listening to this megaboomer?

the bottom will be over 6 months from now, when almost nobody is talking about crypto, this board is almost completely dead and nothing is happening. That is when the bottom is.
t. bought my first coins at top of 2013 parabola and got JUSTed hard

It's not fucking falling off.
>MFI has breached oversold for the first time since the September bull run started (previous time was in 2014)
>Coinbase literally filing with SEC to support institutional investment, which they will get done prior to launching their ERC20 token support
>Most ppl still haven't invested in any crypto but are at least aware of it now
Cap this faggots, shit is gonna blast off again

So he is due for a mistake

stfu and eat your dick already McAfee

the cost of mining has nothing to do with where the bottom is

>mai
Hello norbror

of course it does... if ppl didn't have a incentive to mine, bitcoin would be dead u retard

this is exactly the type of "investor" that needs to give up and lose interest before we blast off
>but we have muh news
>but but institutional investment
>but technicals
>b-but it's different this time
>but my lambo

It has everything to do with it. Do not underestimate the power of Bitmain, I would not short their success.

This megaboomer, practically wrote the TA book. Just him saying this probably is a self fulfilling prophecy

i like those odds imo

bitcoin becomes too expensive to mine in israel and high cost China
>miners stop
>difficulty go down
>price of mining goes down
etc etc
you are the fucking retarded permabull

I've been in crypto since 2016. You are delusional if you think this is the end

Don’t take life too serious. Live life a bit and DO NOT give up on your dreams bc cryptos are going to STUN financial word when it surpass RECORD after RECORD. Ppl will stand in awe as their money doubles, triples & quadruple & more...you are at the right place at right time

and I have been in crypto 3 years longer than you
I never said it was the end
I only said it will be much slower bleed and slower rise than 99% of newfags here expect

Old fag gives probabilities for both movements so he can claim he's always right.

Do you really think the Jew miners running a serious business are going to be okay with producing BTC at a loss? They're the biggest at-risk professional mining group at the moment.

This guy gets it. This is also the reason why I don't take sides with BTC/BCH. Never underestimate Bitmain and Jihan Wu.

twitter.com/AngeloBTC/status/989668696934170625
pls be right angelo. prease

stupid boomer doesn't know TA is a meme

I never underestimate Jihan but what the hell is he not mining right now at the lowest cost around ~3000? on the way down as the smaller miners stop mining difficulty go down and so does Jihans breakeven price

You don't think the massive upswing in interest at the end of 2017 will affect the market differently than the previous massive corrections which were primarily driven by exit scams and political arguments within the core BTC group?

There is no winner-takes-all scenario in this cartel game. Do you really think the rest of the world's shady mining groups will just shrug and turn off their miners when it becomes unsustainable?

By that point, BTC and other PoW tokens will lose all credibility of "decentralization". These guys need each other to keep the charade going.

You don't understand, everything is overvalued, institutional money isn't dumb money.

> following a literal scammer

twitter.com/AngellloBTC/status/999015819743870976

kys

probably it will affect it differently but still i think we will not see real bull market before close to the next btc halving so maybe starting 8-16 months from now

we will see how it goes, I hope you are right though

I literally lost a brand new lambo because of this fucking crash so it's not like I want it to be over. But for now I'm sitting safely on the sidelines with everything sold and in fiat in a boring boomer bank account

I agree there are still lots of shitcoins out there that are overvalued and there is consolidation that will occur but we've already corrected nearly 75% from BTC ATH. It's very rare to have a complete fall-off even after a PND usually 20-30% of ATH value is maintained.

Either you believe in BTC as a world currency or you don't. But a $128b world currency is severely undervalued in a world with hundreds of trillions of dollars

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>im in short
Muh dick

It isn't hope. This is the reality. These cartels have to keep the illusion of "decentralization" or else people will speculate on non-mining tokens.

According to that chart, the next big victims after Jews are high-cost Chinese miners. They're not going to simply watch their low-cost neighbors take a massive slice of their business.

You also have to understand the scale these massive miners operate. Siacoin devs got absolutely justed trying to produce a miner to compete with Bitmain's. Bitmain has a stronghold on nearly every profitable PoW tokens with their own ASICs.

blog.sia.tech/the-state-of-cryptocurrency-mining-538004a37f9b

I bet on reversal (after testing 7.4k support)

how likely is this? makes me fucking hard. I want to see those fucking green candles man...its like a drug.

I think this is very likely in the long run.

>TA

Attached: ta.png (1381x835, 212K)

kek

Any actually relieved it's crashing? I was afraid all the volatility got sucked out and that this was just going to be a boring boomer market.

HAHA_ButtCoin redditor for a day [score hidden] an hour ago
This is so good for Bitcoin. Volume is way up

You're not the only one, and it hasn't finished dropping. Do not try to catch a falling knife. There's 0 reasons why big players will allow the rest of us to buy in at "the bottom".

I have my cash ready but I'm willing to wait for a $200+ recovery because I don't want to be that guy that thought $8K or $7.7K was the bottom of this shit.

Flip a coin, faggots

lel

Attached: 42-percent-peter-brandt.gif (656x336, 25K)

I'm waiting for ~6500 before catching some juicy alt bounces.

>lose trade, take 0.001% loss
>win trade, take 10% win

learn what expected values are.

If BTC breaches the support level of 7258 we might actually see proper levels of despair.
We're talking freefall all the way down to 4461 before reversing.

My pinkies are ready.

$3505? That would unironically kill bitcoin. I hope it fucking crashes that hard. Fuck this shitcoin crashing the market with it.

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World currency where 81% of the total supply is already spread out among like 10,000 white neckbeards, and a few hedge funds, and the remaining 19% will be fought over by the other 7 billion people. I can totally see that being allowed to happen... /s

>>lose trade, take 0.001% loss
>win trade, take 10% win

Stop losses aside what this track record implies is that betting against Peter Brandt will work out 58% of the time

Seriously, anyone spewing that garbage should just out themselves as a brainwashed cultist.

The US$ is a world currency and a dollar bill is valued at one fucking dollar.

And so is tether

Wrong, I don't see a proper US dollar bill being backed by another fiat.

But as people stop mining btc, the difficulty will lower significantly, and the profitability threshold will be significantly lowered too , am i right ?

I mean it was profitable to mine bitcoin when it was 1000$ so ...

Only if you are retarded.

What happens to the hardware? Does it just get sold to Bitamin for pennies on the dollar to expand their monopoly?

>bet against brandt
>take meager 1% wins every time he gets stopped out
>blow up entire account after picking up pennies in front of a steam roller because he picked a big winner

I wasn't meme'ing you when I wrote learn what expected values are.

Q predicted this

Indians are getting out

Attached: Screenshot_2018-05-24-00-20-54-196.jpg (710x243, 75K)

that is a fake account you fucking imbecile. Almost every twitterfaggot with a semi large following has these fakes posting garbage everywhere

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Memes aside give me a quick rundown how fucked are we?

he's being sarcastic, brainlet

You think I wasn't?

>Bitcoin price goes down
>Miners stop mining
>Difficulty falls
>Cost of mining falls too
>Price of bitcoin falls even more

Not really, there is an entire infrastructure that was built with hundreds of millions and that generates an inertia on the price, lots of miners (at least the smart one) probably have big cash stashes from the bullrun and can likely turn months or even years at an even price/slight loss.

whats the incentive in keeping to mine if you dont believe in btc yourself anymore though? Its been losing marketshare for ages

>entire infrastructure that was built with hundreds
It can be turned off and sold

strong buy signal. when they start buying again work on exit strategy

It's not some guys with a rig in his garage, it's ten of thousands of ASICs with their cooling systems in big server farms, you don't dismantle and sell something like that in few months.

Those guys have been mining since Bitcoin was $300... They don't depend on Bitcoin price going up to be profitable. If price goes down, they can simply shut down part of the plant and continue mining to the extent that it's profitable.

It's the same as oil rigs in the US. A lot of shale oil rigs shut down when the price of oil drops under a certain level, and reopen when the price goes up.

A correction?

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You're talking solely Bitcoin. Bitmain and other industrial-scale mining operations expanded into far more PoW-based tokens. They've basically increased their cryptocurrency mining exposure virtually any PoW-based tokens worth producing an ASIC miner for.

This isn't my tinfoil hat speculation. This is straight from a Siacoin developer that was tasked with producing their own miner (Obelisk), but got absolutely justed by Bitmain.

blog.sia.tech/the-state-of-cryptocurrency-mining-538004a37f9b

Never tell me the odds

Attached: 243578108026212.png (527x502, 339K)

>miners stop
>difficulty go down
Difficulty doesn't go down for another year tho. And buttcoin won't survive that year.

Difficulty doesn't go down instantly, brainlet, only after certain amount of blocks. If the hashrate dropped by 60% now, it would take 4 years to get to another adjustment block.

Wedge theory goin mainstream baby

EVERYTHING that matters in the past six months fits in wedge. If it doesn't, drop it before June

wedgebro out

Attached: WET-btc.png (703x702, 59K)

this

the hashrate will just decrease. large miners already have $0.04 and below energy costs probably. it might actually be better for bitcoin price to go down because a lot of smaller miners will have to stop mining at a loss

These aren't oil rigs. The hardware miners use becomes deprecated within a year or two, miners will continue mining at a loss however they will hoard the coins and sell when/if prices recover.

All you faggots who claim the cost of mining is what dictates the price of BCH/BTC are fucking retarded, you're the easy money.

The fact is this big fucking bubbling is deflating and it has a long time to go. You cunts can't seriously expect an unusable shitcoin like BTC to just continue increasing in price right? A $70 billion 'Dapps' (aka do nothing) shitcoin that only produces scam ICOs?

Wake the fuck up. The only good coins are currencies that work, such as BCH and ICOs which would be classed as securities. I want to see decentralized ownership of individual macdonalds stores using tokens, buying actual business shares in tokens which are all legitimate and accepted by wall street, kind of like the existing stock market but without the high cost of participation that excludes a heap of low income people.

Until these things happen crypto will pump and bleed but the pumps will be smaller and smaller. I sold my crypto (except for a small BCH stack) for now as I see the end of easy money. I'll wait a few months and access but I really can't see the market rising at all in the near to medium future, especially not for shitcoins like BTC and ETH (and the countless ETH clones).

>The only good coins are currencies that work, such as BCH and ICOs which would be classed as securities. I want to see decentralized ownership of individual macdonalds stores using tokens, buying actual business shares in tokens which are all legitimate and accepted by wall street, kind of like the existing stock market but without the high cost of participation that excludes a heap of low income people.

You had me until that line of nonsense.
>currencies that work
As long as cryptocurrencies as classified and taxed as properties, they will not work as a currency.

The next few lines are just regurgitation about lowering the barriers into stocks/equities. There has never been a better/easier time to own and trade in public stocks/options.

listen you disgusting newfag, people like you were having this debate last january through to december. Especially i nthe months of May-August.

The BTC went to 20k. Then in august it crashed fucking hard, and people were saying it's because of all the shit you are posting now. then what happened.

You fail to understand why BTC goes up, and its not limited by its tech in that way for the same reason the internet is the way it is today despite it being fucking ancient, slow, unorganized and massively limiting in infrastructure. you have no idea what you are talking about.

Attached: 31841498_2030326893888587_7078935406158282752_n.jpg (960x684, 44K)

>he actually believes a currency can work with a ~$0.03 or greater fee

You are delusional.

Sure it's easier to hold/own/trade stock/options than it was 20 years ago but it's still pretty fucking hard and pretty fucking expensive. I imagine the preceeding 20 years were even harder.

In my country each trade is fucking $15, every fucking trade. Get real buddy.

Why do we care so much about BTC when we realize that its dominance is failing, and the only reason its been the #1 crypto for the past year is because its the biggest mcap? As soon as this coin gets close to being passed by ETH it will drop like a hot potato. I'm thinking BTC and Bcash won't be top 10 coins EOY.

It's worthless. The other coins are 10x better at being digital gold, and they actually do other stuff in addition to being "Muh digital gold".

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Then buy equities for the long term and get your income sorted out so $15/trade doesn't feel that big of a hurdle.

You are clueless champ. BTC can't rise because the fees quickly become unsustainable. IMO even a $0.50 fee is unsustainable and people were paying $100+ at the high of the December frenzy, it just can't be used over the long term. Imagine paying $0.50 extra every time you bought anything, fuck that shit.

BTC is just a kiked shitcoin, you're too emotional about it.

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You're missing the point you low IQ mongoloid.

BTC only maintains it's position due to trading pairs, but as more pairs open up its dominance will continue to fall as the coin itself falls into irrelevance.

Bitcoin Cash on the other hand has managed to maintain a high valuation even in the face of huge propaganda campaigns and vitriol from deluded corecucks, and without trading pairs. I'm quite comfy knowing I have a long term position in Bitcoin (BCH).

>Imagine paying $0.50 extra every time you bought anything, fuck that shit.
So, tax?

$0.50 tax on a $.50 icecream from mcdonalds sounds fair to you? Tax is a part of life, an absurd transaction fee is not.

>buying mcdonalds ice cream with gold.
you deserve to lose the money faggot.

I don't get how people could see cost to mine driving cost, seems like only baby-tier logic is required to see through this.

It's worth only what someone will pay for it. The cost to mine is a trailing indicator - if the market value goes up, mining become more competitive and vise versa.

Wew lad

Attached: peter 2.png (1232x1280, 434K)

and I since 2012 so fuck all yall fags

and a woogy boogy click clack to you, tyrone.