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  • Bitcoin 'miners' are losing money at any price below $8,600: Morgan Stanley

    From cnbc.com

    If bitcoin can't recover $8,600 soon, bitcoin "miners" will likely find it unprofitable to keep creating the cryptocurrency, Morgan Stanley analysts said. Bitcoin traded slightly higher near $8,200 on Thursday, according to CoinDesk. It has struggled to recover in the last few months after tumbling from a record high above $19,000 in mid-December. "We estimate the break-even point for big mining pools should be US$8,600, even if we assume a very low electricity cost (US$0.03 kW/h)," equity analyst Charlie Chan and his team said in a Thursday note. "Therefore, we think the Bitcoin mining hardware demand and price ... (full story)

  •  Guest
  • | IP XXX.XX.34.233
If you REALLY want the stuff, BUY it rather than MAKE it.
Simple economics.....
Depends on the rig cost and which Gpu's are being used, anyone buying cards last month (when prices were down) and keeping build costs to minimums should be in profit in 9 months, if price rises, significantly quicker , if price drops , longer, however as price risk to the downside seems to be minimizing miners may well find themselves printing by Aug/ Sept. I'm waiting for the new cards from Samsung and (rumoured) Intel pre adding any more miners, the new cards being dedicated to mining rather than hi-jacking the gaming industries GPU's, some of which have increased in price 5 fold since I purchased them last September
Quoting NewtonsCash
Depends on the rig cost and which Gpu's are being used, anyone buying cards last month (when prices were down) and keeping build costs to minimums should be in profit in 9 months, if price rises, significantly quicker , if price drops , longer, however as price risk to the downside seems to be minimizing miners may well find themselves printing by Aug/ Sept. I'm waiting for the new cards from Samsung and (rumoured) Intel pre adding any more miners, the new cards being dedicated to mining rather than hi-jacking the gaming industries GPU's, some of...
It's funny Newtons you aways seem to be one step ahead of me. You understood the property crash before me and now you are realizing the crypto opportunities :-)
I looked into crypto mining about three years ago trying to understand what I needed to buy in order to get started. It was so alien to me that I had to accept my inability to understand the requirements and gave up.
I re-checked about a year ago and fell flat again and accepted it wasn't something I was going to be able to do. And here you are making it sound easy. Keep up the good work :-)
What is the significance of mining in Bitcoin? What would happen if one day nobody do mining anymore? What would be the impact to the bitcoin operation? My crude understanding is that mining is to verify the past transaction blocks so that it is permanently "recorded" (in other words chained to the already verified big blocks) in the distributed ledgers around the world. Anyone care to share?
Quoting Guest
If you REALLY want the stuff, BUY it rather than MAKE it. Simple economics.....
If no miners, no transactions verified, no market, BTC dead
Quoting Hareii
What is the significance of mining in Bitcoin? What would happen if one day nobody do mining anymore? What would be the impact to the bitcoin operation? My crude understanding is that mining is to verify the past transaction blocks so that it is permanently "recorded" (in other words chained to the already verified big blocks) in the distributed ledgers around the world. Anyone care to share?
Can't help with clarification of that point I'm afraid Hareii.
What a fake.
1 year ago at price 1000 how did miners survive????
  •  Guest
  • | IP XX.XXX.203.81
Satoshi Nakamoto didn't think of that. Am shorting !
Quoting ivofx
What a fake. 1 year ago at price 1000 how did miners survive????
Because a year ago the difficulty of the network was much lower and miners obtained more BTC per hour. Nowadays they obtain less BTC/h

More BTC coins mined > higher difficulty > lower BTC/h
Ever heard of ASIC

BTW, how do you mine Bitcoin with GPU's 😜
1 Bitcoin is currently about £6,000. What use is a currency where the smallest denomination is the price of an expensive holiday?
Gone to a better place
Quoting Ken A
Ever heard of ASIC BTW, how do you mine Bitcoin with GPU's 😜
If you mine with Asic , cool, or rather hot, very hot, and very, very loud GPU's , whilst being less efficient than Asic miners can be put together in a rig easily and cheaply , parts from Amazon , up and running with a few hours work. Loads of tutorials online , its addictive and fun and profitable, whats not to like
Quoting robgsxr
{quote} It's funny Newtons you aways seem to be one step ahead of me. You understood the property crash before me and now you are realizing the crypto opportunities :-) I looked into crypto mining about three years ago trying to understand what I needed to buy in order to get started. It was so alien to me that I had to accept my inability to understand the requirements and gave up. I re-checked about a year ago and fell flat again and accepted it wasn't something I was going to be able to do. And here you are making it sound easy. Keep up the good...
Thanks Rob, my big call for this year is physical Silver and Silver miners, not ETF's , lets see how that works out
Quoting NewtonsCash
{quote} Thanks Rob, my big call for this year is physical Silver and Silver miners, not ETF's , lets see how that works out
Damnit, I've done it again, I have been saving physical gold :- )))
Quoting robgsxr
{quote} Damnit, I've done it again, I have been saving physical gold :- )))
Golds great too, Silver mining shares are like Gold with a Nox button
Quoting NewtonsCash
{quote} Golds great too, Silver mining shares are like Gold with a Nox button
Quoting NewtonsCash
{quote} If you mine with Asic , cool, or rather hot, very hot, and very, very loud GPU's , whilst being less efficient than Asic miners can be put together in a rig easily and cheaply , parts from Amazon , up and running with a few hours work. Loads of tutorials online , its addictive and fun and profitable, whats not to like
Can you buy the parts from Amazon with Bitcoin?
Gone to a better place
Quoting NewtonsCash
{quote} Golds great too, Silver mining shares are like Gold with a Nox button
NewtonsCash,

Is this correct:

Silver Mining Shares as in Shares of Companies that are in the Silver/Metal Mining Business?

Thanks
A recent study put the value of BTC at $20. Seems pricey...
"The meek shall inherit the earth.." Yeah right, good luck with that shit..
Decent trainers, the original Onitsukas still look great.

Quoting Ken A
Ever heard of ASIC BTW, how do you mine Bitcoin with GPU's 😜
"The meek shall inherit the earth.." Yeah right, good luck with that shit..
Quoting Spreadbetter
Decent trainers, the original Onitsukas still look great. {quote}
https://youtu.be/w_Nygi01VqI
Quoting smikester
1 Bitcoin is currently about £6,000. What use is a currency where the smallest denomination is the price of an expensive holiday?
Small amounts of bitcoin used as alternative units are millibitcoin (mBTC), and satoshi (sat). Named in homage to bitcoin's creator, a satoshi is the smallest amount within bitcoin representing 0.00000001 bitcoins, one hundred millionth of a bitcoin.
Quoting NewtonsCash
Depends on the rig cost and which Gpu's are being used, anyone buying cards last month (when prices were down) and keeping build costs to minimums should be in profit in 9 months, if price rises, significantly quicker , if price drops , longer, however as price risk to the downside seems to be minimizing miners may well find themselves printing by Aug/ Sept. I'm waiting for the new cards from Samsung and (rumoured) Intel pre adding any more miners, the new cards being dedicated to mining rather than hi-jacking the gaming industries GPU's, some of...
GPUs have nothing to do with bitcoin mining
Quoting smikester
1 Bitcoin is currently about £6,000. What use is a currency where the smallest denomination is the price of an expensive holiday?
Satoshi is the answer : "Each bitcoin (BTC) is divisible to the 8th decimal place, so each BTC can be split into 100,000,000 units. Each unit of bitcoin, or 0.00000001 bitcoin, is called a satoshi. A Satoshi is the smallest unit of Bitcoin"
So btc will not follow under 8000 because miners will be on loss???
Sellers will not sell because of the poor miners?
Quoting UnBearybull
{quote} Small amounts of bitcoin used as alternative units are millibitcoin (mBTC), and satoshi (sat). Named in homage to bitcoin's creator, a satoshi is the smallest amount within bitcoin representing 0.00000001 bitcoins, one hundred millionth of a bitcoin.
You live and learn.
Gone to a better place
Quoting ivofx
So btc will not follow under 8000 because miners will be on loss??? Sellers will not sell because of the poor miners?
supply and demand in a deflationary economic environment. Its part of the ideal money philosophy of nash.
Quoting ivofx
What a fake. 1 year ago at price 1000 how did miners survive????
Yep.
Don't believe a word of big liars, Ver, Morgan Stanley....

Of course mining is self-adjusting and profitable.
I had numbers before...forgot..but something like 3-5k above is ok.
Price drop?? Turn off miner!!!
Beware of robber banks (RB), bad advisors.
Der Trader All Time Pips: 52,970
Quoting Ken A
Ever heard of ASIC BTW, how do you mine Bitcoin with GPU's 😜
I won't read this lying piece of... err...article.
But i guess GPU mining is for many coins created ASIC-resistant!!

Cheers.
Beware of robber banks (RB), bad advisors.
Der Trader All Time Pips: 52,970
Quoting Spreadbetter
A recent study put the value of BTC at $20. Seems pricey...
Sure!!!
Sell me your bitcoins for $21!!
😂😂😂
What a dumbo!!!
Join my Horses only thread!!!😱😱

Quoting Nobody-yet
{quote} Satoshi is the answer : "Each bitcoin (BTC) is divisible to the 8th decimal place, so each BTC can be split into 100,000,000 units. Each unit of bitcoin, or 0.00000001 bitcoin, is called a satoshi.
A Satoshi is the smallest unit of Bitcoin"
Great comment !
And when bitcoin is $1 million 1 Satoshi is 1 cent.
Simple design !!👍👏


🍻
Folks,
Come join our Crypto thread?
Beware of robber banks (RB), bad advisors.
Der Trader All Time Pips: 52,970
If dilettante can't find it - here's thread for crypto crybabies 😭😭😭- enjoy 😂😂😂😂
Post any comments , even the ignored babies.

https://www.forexfactory.com/showthread.php?t=730138

Bitcoin to zerooooooo!!!
Bitcoin is bu-bu-laaaaaaa (cry the crybabies )
😂😂😂😂

https://www.forexfactory.com/attachm...9&d=1516406944
Attached Image (click to enlarge)
Click to Enlarge Name: Bitcoin 2000 up Not-KPMG crybaby.jpg Size: 7 KB
Beware of robber banks (RB), bad advisors.
Der Trader All Time Pips: 52,970
Quoting Not-KPMG
If dilettante can't find it - here's thread for crypto crybabies 😭😭😭- enjoy 😂😂😂😂 Post any comments , even the ignored babies. https://www.forexfactory.com/showthread.php?t=730138 Bitcoin to zerooooooo!!! Bitcoin is bu-bu-laaaaaaa (cry the crybabies ) 😂😂😂😂 https://www.forexfactory.com/attachm...9&d=1516406944 {image}
Like.... a lot , these Bitcoin Cassandra's , all driving around in Vauxhall's and Fords, mines a Lambo ta, if I could drive one where I live, whole place is 30 tops
Quoting sidhujag
{quote} GPUs have nothing to do with bitcoin mining
Sorry , thats semantics, I mine many Algo's and end up being paid in BTC
Bitcoin has a long way to go, dont be worried about the negative coverage to manipulate the price.
Based on a lot of analysis the bitcoin price prediction still holds at $12500 for 2019.
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  • Posted: Apr 20, 2018 4:43am
  • Submitted by:
     Newsstand
    Category: Fundamental Analysis
    Comments: 34  /  Views: 10,225