Sub $400 here we come!

oblox

[H]ard|Gawd
Joined
Nov 27, 2013
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I'd consider buying some more at around $380-$400. All my rigs are off at the moment. BTC is bringing all alts down hard, even the non-scrypt coins.
 

blade52x

2[H]4U
Joined
Sep 9, 2006
Messages
3,110
$400 is really a crucial point. We've crashed down to that point twice in the past few months. If that point gets broken, how low can it go from there? $300? $250? And will be be the final "return to mean" phase of the bubble. Either way, maybe now is a good time to start cost averaging down if you're confident in the long of BTC. It won't be much longer before the down trend and $400 bottom meet on their own.

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I'd consider buying some more at around $380-$400. All my rigs are off at the moment. BTC is bringing all alts down hard, even the non-scrypt coins.

You could always try something new and "mine BC" on my pool! Got nothing to lose except some electricity costs at this point. :D
9QQAAACCwf8P0U6xIqwUJlcAAAAASUVORK5CYII=
 

blade52x

2[H]4U
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Sep 9, 2006
Messages
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only one kind of holding is LTC the rest are somewhat down to crazy down :(

I wouldn't touch LTC with a ten foot pole right now. It's been as low as 0.021 recently. If BTC breaks $400 the dump on LTC is going to look far worse than the one on BTC as I would expect LTC to be sent back down into the single digits.
 

dragonstongue

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Nov 18, 2008
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sure but LTC generally is far more stable a price then BTC is not anywhere close to the slingshots in pricing but I understand what you are saying.
 

collegeboy69us

Supreme [H]ardness
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Jul 27, 2003
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I wouldn't touch LTC with a ten foot pole right now. It's been as low as 0.021 recently. If BTC breaks $400 the dump on LTC is going to look far worse than the one on BTC as I would expect LTC to be sent back down into the single digits.

Most of my holdings are in LTC -- balling with a whopping 40 coins.

The ratio of LTC/BTC is still holding quite steady, actually gaining from when I checked this morning it was .027 just checked btc-e and it was sitting at .0281

I learned to stop freaking as much when I see LTC dipping a ton. While it would have been nice to exit a week or two ago when it was 17 dollars. Long term holding, doesnt bother me as much with the swings.

Since my exit path is always LTC-BTC-USD - i still have one more layer of possible recovery should I move everything to BTC and hope for a large rebound. Who knows what will happen. We've seen many crashes before and even when the hour is darkest things always bounce back to new incredible highs.

I think it's funny I used to be able to mine 2k LTC a month with two silly little 6970s. Now with 7Mhash I'm doing good to clear 35LTC/month. If only i'd known back then, and dumped with it was $40 I could have paid for my house and bought a brand new vette, lol
 

Carbon_Rod

Gawd
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Apr 2, 2012
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I wouldn't touch LTC with a ten foot pole right now. It's been as low as 0.021 recently. If BTC breaks $400 the dump on LTC is going to look far worse than the one on BTC as I would expect LTC to be sent back down into the single digits.

That's funny, LTC seems to be holding pretty well.

I'm loving that LTC/BTC ratio right now. 0.02837 (as of the current time I write this). I might sell my LTC and buy back should it decide to go south as well, but there have been indications in past weeks that LTC might be starting to wander on its own without being always leashed to BTC.

In fact, the charts for LTC and BTC look completely different right now. Maybe BTC folk are realizing that LTC could be a viable fallback now while BTC stabilizes/recovers/whatever.
 

nightwalker

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Feb 25, 2007
Messages
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That's funny, LTC seems to be holding pretty well.

I'm loving that LTC/BTC ratio right now. 0.02837 (as of the current time I write this). I might sell my LTC and buy back should it decide to go south as well, but there have been indications in past weeks that LTC might be starting to wander on its own without being always leashed to BTC.

In fact, the charts for LTC and BTC look completely different right now. Maybe BTC folk are realizing that LTC could be a viable fallback now while BTC stabilizes/recovers/whatever.

Yes, LTC/BTC was locked pretty tight for a long time, but lately it has done some funny thing, like around the Huobi launch for example.
 

x3sphere

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Yes, LTC/BTC was locked pretty tight for a long time, but lately it has done some funny thing, like around the Huobi launch for example.

On Huobi you can trade CNY direct for LTC, right? That could be why.

Cryptsy is also adding USD markets for LTC, DOGE, and FTC next week. This could further decouple these coins from BTC swings.

On BTC value: I'd be surprised if it goes below $400, and if it does, expect an even further drop (possibly to $200). Under $400 would make the TA people panic.
 

dragonstongue

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Nov 18, 2008
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well LTC should be its own and have its own value tied to nothing but currency or other coins, to tie its value directly to a coin that it might be a fork of well seems a little odd at this point, they are quite different sides of the same coin if you will.
 

XViper

Gawd
Joined
Aug 24, 2012
Messages
838
Oh well, damn. I should have sold my btc when it was around 480 this morning.
 

atp1916

[H]ard|DCoTM x1
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Jun 18, 2004
Messages
4,809
These hours are as bad as it will get. Didn't even need the 15th to roll around, either.

The rebound is near.
 

Mega666

[H]ard|Gawd
Joined
Apr 19, 2008
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1,277
Go head,panic. More Crypto for me, cheaper and lowers the difficulty.
 

blade52x

2[H]4U
Joined
Sep 9, 2006
Messages
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Damn, Huobi is actually under $400 now. It's at $390 by exchange rates. Stamp and BTC-e around $415-$420.
 

jojo69

[H]F Junkie
Joined
Sep 13, 2009
Messages
10,874
rode through after 32

rode through after 266

yawn...wake me at the new ATH
 

atp1916

[H]ard|DCoTM x1
Joined
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Messages
4,809
I wake up to find BTC-E / CB over $420.

Outstanding. :)

Just like everyone found out that no, you don't need Gox to to exchange bitcoins...now it's no, we don't need China either.

China is governed by a Communist government. Communism is centralized heaven, remember? It was a naive pipedream to ever have thought that Bitcoin would have been allowed to run about with impunity. It's no wonder that Russia also hates Bitcoin!
 

LZ_Xray

Limp Gawd
Joined
Mar 25, 2013
Messages
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Not mining during all the times when it would've been most productive to do so over the last couple years (i.e. when miners were all shitting their drawers for one reason or another) was why I started mining again a month ago and will continue.
 

Carbon_Rod

Gawd
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Apr 2, 2012
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I wake up to find BTC-E / CB over $420.

Outstanding. :)

Just like everyone found out that no, you don't need Gox to to exchange bitcoins...now it's no, we don't need China either.

China is governed by a Communist government. Communism is centralized heaven, remember? It was a naive pipedream to ever have thought that Bitcoin would have been allowed to run about with impunity. It's no wonder that Russia also hates Bitcoin!

It's a little bit early to be preaching success when the market hasn't even yet been one whole day without China. Not until the actual deadline. And even then, the effects may not be immediate. We are talking a loss of a huge portion of the BTC investing world here.
 

atp1916

[H]ard|DCoTM x1
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Carbon,
Speculating is not investing. The cold, hard reality is that there never was an "investment" opportunity in China, or in Russia, or in any other anti-free market society where a government wields totalitarian capital control.
 

Carbon_Rod

Gawd
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Apr 2, 2012
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Carbon,
Speculating is not investing. The cold, hard reality is that there never was an "investment" opportunity in China, or in Russia, or in any other anti-free market society where a government wields totalitarian capital control.

Call it what you will, that money is gone, as will be the driving influences of the markets that existed there. I seriously doubt we will see $700 or $800 BTC again without them. But hey, whatever. A lower priced BTC is actually more market friendly IMO.
 

Mega666

[H]ard|Gawd
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Listen, the world does not need China to save it or make everything at Wal-mart. So as far as Crypto on the short term - we've seen the effect here. But technology and Cryptocoins will keep moving forward. Long term is still UP.
 
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serious

Limp Gawd
Joined
Sep 24, 2012
Messages
225
Carbon,
Speculating is not investing. The cold, hard reality is that there never was an "investment" opportunity in China, or in Russia, or in any other anti-free market society where a government wields totalitarian capital control.
I don't think you know enough about China to make this claim. There are people who invested heavily on Bitcoin in China and now super rich. First they designed ASIC in China, build them in China, farm with it, then sell it globally as a product. We are talking about profit in millions in under 3 years.

As to your Anti-free market ... I really don't see where that came from. Haven't you heard how crazy people in China was about iphone?

Back to bitcoin. Right now the government of China has not given a clear direction yet. As to the bitcoin exchange business, they can do it without PBOC easily as Hong Kong can act as a buffer to the exchange as there are foreign banks in Hong Kong.

As to the news about PBOC, what is really going on is that exchanger can't have an associated BUSINESS account. More information will be announce on April 15.
 

XViper

Gawd
Joined
Aug 24, 2012
Messages
838
I just saw 390 come through. Looks like more people will be turning off their machines and selling their cards. Perhaps it's not even worth it for the people that have preordered ASICs.
 

collegeboy69us

Supreme [H]ardness
Joined
Jul 27, 2003
Messages
5,256
I welcome the people turning off their rigs.

+1

We've all seen this happen before -- remember when BTC crashed from 20 to nothing? Everyone was doom/gloom, and quit mining. Those same people had they kept their rigs running for even a month or two could have made fortunes.

I have cheap electricity 5.5 cents per kwh, so it won't kill me to keep the rigs going. (soon to be 8Mhash of scrypt)

News of china + summer approaching, I'd love to see LTC drop back to ~2 or 3k difficulty.
 

edge929

[H]ard|Gawd
Joined
Jan 11, 2007
Messages
1,180
I'm still making about double my power cost right now so I'll keep hacking away. It's not like I use my rigs for something else and the heat isn't an issue in my basement. Will be interesting to see where BTC goes in 6-12 months.
 

_r2h

Gawd
Joined
Aug 21, 2010
Messages
549
i stopped keeping track of profits. I'm putting all my btc into cryo-storage and wishing for a huge pay out one day.
 
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