Bitcoin Plummets Below $7,500

triwolf said:
They are in jeopardy, no doubt. Why someone gambles with their abode I can not understand. Lady luck anyone? She can hurt. Something about paper or digital money and hard assets also comes to mind. Hard to sleep in a digital coin.
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Well, there's always the back of my '01 Civic...
 
odditory said:
Adorable how some people think crypto price fluctuations mean GPUs will suddenly get cheaper, as if all the non crypto related causes of the shortage suddenly go away.

It's uncorrelated stupidity on the level of going to a car dealership and screaming "the stock market is down I want a discount on this car".
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cars dont make "free" money if running a car printed stock ....
 
nightanole said:
stock market is crashing live.... gonna be down 2000 on the dow
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Yup. Which sucks, but really isn't a surprise. The only surprise is the exact timing. Thankfully (sadly?), I'm not planning on retiring any time soon...
 
Black Monday (2018)

triwolf said:
What about when alternative coins get hot again, like has happened at least twice? Right back to constrained GPUs. And people listened to you and then cry, rinse and repeat?
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I have done altcoins only for close to a year now. I focus on whatever has the lowest difficulties. Presently I do Guncoin and Burst.
 
This is relevant today.

VillainousDopeyClownanemonefish-size_restricted.gif
 
Elios said:
cars dont make "free" money if running a car printed stock ....
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Point went over your head. GPUs dont make free money either and GPUs dont mine BTC.

GPU based mining profitability isn't determined by BTC's value. The GPU shortage of the past few weeks wasn't because of BTC's value high or low. The industrial operations with thousands upon thousands of GPUs understand this. The kid that bought a few extra GPUs for his bedroom nicehash rig is a drop in the ocean.

There was a perfect storm of bad conditions - a memory shortage, Nvidia in the midst of a manufacturing changeover to Volta, graphic/post processing/architectural/rendering software becoming more agnostic in supporting the consumer Pascal SKUs (no longer just limited to Quadro compute cards) - special FX and post production houses have been buying Pascal by the truckload. And finally you had flippers armed with custom bots contributing to the problem. The home hobby miner posting on [H] here was irrelevant to the shortage. So no point in getting all toxic and bitchy at them here.

Reality check: mining revenue is actually up today compared to yesterday. There's a bigger picture and longer view that people that have been in this for a while understand. And the
"Welp Bitcoin is dropping so GPUz will be cheap now" fantasy will remain a fantasy unfortunately.
 
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nightanole said:
stock market is crashing live.... gonna be down 2000 on the dow
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Hit 1500 down, and bounced after a circuit breaker.

One thing that BTC doesn't have... Oh, and BTC is back @ $7300. Stocks bomb, BTC rises. Amazing.
 
People shouldn’t invest money they don’t have? Interesting...
 
3% of S&P is more than all Crypto market cap combined.

The current (12/31/2017) market cap of S&P 500 is $$23,938,148.8 million and the public float adjusted market value is $$22,900,164.8 million.

Just kinda funny what happens - I've watched it a few times. When conventional means of investing are lower, for some reason, the crypto market does better.

Today, everyone's in the toilet.
 
Elios said:
no they min ETH mostly which is ALSO tanking hard
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ETH's value and ETH's mining profitability are two different things. The big mining operations aren't sweating a momentary dip in value because their strategy doesn't usually involve cashing out to fiat constantly - for most of them it's about ETH accumulation, and ultimately BTC accumulation by converting when the ratio is favorable.

They've got a long term strategy with a long term attention span, and aren't even flinching when values dip momentarily because it doesn't matter.
 
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xrealm20 said:
3% of S&P is more than all Crypto market cap combined.

The current (12/31/2017) market cap of S&P 500 is $$23,938,148.8 million and the public float adjusted market value is $$22,900,164.8 million.
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I guess I just don't understand how market cap is relevant when comparing performance.
xrealm20 said:
Today, everyone's in the toilet.
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Sad but true. :(
 
odditory said:
Point went over your head. GPUs dont make free money either and GPUs dont mine BTC.

GPU based mining profitability isn't determined by BTC's value. The GPU shortage of the past few weeks wasn't because of BTC's value high or low. The industrial operations with thousands upon thousands of GPUs understand this. The kid that bought a few extra GPUs for his bedroom nicehash rig is a drop in the ocean.

There was a perfect storm of bad conditions - a memory shortage, Nvidia in the midst of a manufacturing changeover to Volta, graphic/post processing/architectural/rendering software becoming more agnostic in supporting the consumer Pascal SKUs (no longer just limited to Quadro compute cards) - special FX and post production houses have been buying Pascal by the truckload. And finally you had flippers armed with custom bots contributing to the problem. The home hobby miner posting on [H] here was irrelevant to the shortage. So no point in getting all toxic and bitchy at them here.

Reality check: mining revenue is actually up today compared to yesterday. There's a bigger picture and longer view that people that have been in this for a while understand. And the
"Welp Bitcoin is dropping so GPUz will be cheap now" fantasy will remain a fantasy unfortunately.
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Hey you, take your rational points and well reasoned arguments, and get out we don't take kindly to thinking things through around these parts :)
 
odditory said:
Point went over your head. GPUs dont make free money either and GPUs dont mine BTC.

GPU based mining profitability isn't determined by BTC's value. The GPU shortage of the past few weeks wasn't because of BTC's value high or low. The industrial operations with thousands upon thousands of GPUs understand this. The kid that bought a few extra GPUs for his bedroom nicehash rig is a drop in the ocean.

There was a perfect storm of bad conditions - a memory shortage, Nvidia in the midst of a manufacturing changeover to Volta, graphic/post processing/architectural/rendering software becoming more agnostic in supporting the consumer Pascal SKUs (no longer just limited to Quadro compute cards) - special FX and post production houses have been buying Pascal by the truckload. And finally you had flippers armed with custom bots contributing to the problem. The home hobby miner posting on [H] here was irrelevant to the shortage. So no point in getting all toxic and bitchy at them here.

Reality check: mining revenue is actually up today compared to yesterday. There's a bigger picture and longer view that people that have been in this for a while understand. And the
"Welp Bitcoin is dropping so GPUz will be cheap now" fantasy will remain a fantasy unfortunately.
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good to seee someone cheering up, although i think this is a real crash , next stop 4k$ with some luck, ppl mine alt to convert to bitcoin, if bitcoin crashes, the alt does too, my guess next week bitcoin will be at 4k and will stay there for a moment, but could hahe a hell of a time to go back up, as this time crypto went mainstream, and alot of idiots lost alot of money, and they are unlikely to invest again in crypto anytime soon.
you say bitcoin is going up, i say it's going down, and in a week we will see which is which.
you say alt have nothing to do with bitcoin, i say alt-coin rise to reach an equilibrium with bitcoin, when it crashes the rest does too,so if bitoin goes to 4k , ether will go down to 300-400$, at which point mining doesn't make that much of a profite, i would like to see amateur miners hanging to their gpus for the next couple year trying to recup the gpu cost...
 
ETH is already at 600 and droping ...itll be under 400 by the end of the week
 
alamox said:
good to seee someone cheering up, although i think this is a real crash , next stop 4k$ with some luck, ppl mine alt to convert to bitcoin, if bitcoin crashes, the alt does too, my guess next week bitcoin will be at 4k and will stay there for a moment, but could hahe a hell of a time to go back up, as this time crypto went mainstream, and alot of idiots lost alot of money, and they are unlikely to invest again in crypto anytime soon.
you say bitcoin is going up, i say it's going down, and in a week we will see which is which.
you say alt have nothing to do with bitcoin, i say alt-coin rise to reach an equilibrium with bitcoin, when it crashes the rest does too,so if bitoin goes to 4k , ether will go down to 300-400$, at which point mining doesn't make that much of a profite, i would like to see amateur miners hanging to their gpus for the next couple year trying to recup the gpu cost...
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The guy you quoted is in another hot deals thread denouncing the drop.
 
alamox said:
i would like to see amateur miners hanging to their gpus for the next couple year trying to recup the gpu cost...
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I don’t think most people go overboard (the couple that purchased what 78 1080tis?) then again I could be wrong. Would rather say people go to the extreme more often than not.

But would have to sit down and do some calculations and see what ROI would be.
 
oh and ETH is only still over 400 RIGHT NOW because few people tried to prop it up with a 2 big buy orders it instantly went back down 150 bucks and it back on its way down
 
bitcoin will be $30,000. buy buy buy !

All the fortune-tellers say so.

history repeats itself again and again: when everyone is hyping something, it's already too late to get in.
 
Kdawg said:
bitcoin will be $30,000. buy buy buy !

All the fortune-tellers say so.

history repeats itself again and again: when everyone is hyping something, it's already too late to get in.
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seriously? 30k? BRB getting a mortgage.
 
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