Bitcoins/Litecoins/Virtual Currencies

Torrid

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There is no 'mining level', which is constantly changing. (every two weeks) Recently the difficulty adjusted by -29% because of China's ban, which was a record. Satoshi mined on a single desktop CPU at genesis, and the difficulty could go down that low again if a magic wand were waved and forced all miners offline for weeks. Miners spool up to meet the price and go offline when the price falls. They'll mine at a loss if they think the drop is short-lived, but otherwise price drops will force some miners offline. (starting with the most expensive energy) When miners go offline, the difficulty reduces, which makes it easier to mine. In this way it's always going to be profitable for some miners no matter what the price does. If there is a large gap between the price of BTC and the break-even point mining at the current difficulty, it's because the price recently went up a lot and miners can't just pull machines out of thin air or find sources of electricity overnight. Over time if the price is stable, the mining margin will become very thin and only profitable for near-free energy no matter what the price is. All the while the amount of new coins minted is constant no matter what the difficulty is. (until next halving)

Tether FUD is bullshit until evidence is produced. The feds went after LBRY, Bitmex and BlockFi as well, and that's simply because they are vindictive bastards who defend the status quo for the large entrenched players who don't like competition. They can't even clarify what a security is and if it applies to various crypto projects before suing. It doesn't mean these companies did anything wrong by their users.
 
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Ravishing

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the 25k-40k 2024. no way it hovers around like that for that long. imho. 2017-2019 dip was 1.5years. 2019-2020 dip was like 9months. I don't think this dip will last more then 6months. hell, maybe this IS really it taking off again.

1.PNG
 

swayze22

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It would be wacky if it dropped that low, ya. But I wouldn't be surprised at all to see a dump down to the low 30s.
anecdotal and doesn't matter, but a few people I know sold when it was close to $40k because they expect it to go back towards $30k. some of their larger buy ins were in the low/mids $30s. i would imagine after the past few months other people generally speaking might feel similar.

i'm just holding though.
 

Arden

Trakanon Raider
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anecdotal and doesn't matter, but a few people I know sold when it was close to $40k because they expect it to go back towards $30k. some of their larger buy ins were in the low/mids $30s. i would imagine after the past few months other people generally speaking might feel similar.

i'm just holding though.

Yeah, 40k is definitely a heavy resistance line. I can see it breaking resistance if we get actual confirmation of the Amazon news, especially if we get follow up indications that other companies are thinking of doing the same. That said, if Amazon confirmation takes a while we will probably bleed pretty quick back down towards 30k.

It's no sure thing, but I personally think we are going to get confirmation of the Amazon news and then see a cascade of other positive crypto news that sends us to new ATHs before the end of the year. Which would be great... but like you I'm holding.

"Long" means LONG to me. My holdings could triple tomorrow and I wouldn't sell. Likewise, they could lose 90% and I wouldn't sell. So the lens I'm viewing all this stuff through is a 2 to 5 year lens, which means that none of it feels super urgent or dire.
 
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Torrid

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If the price reliably went up and back down to the same level over and over again, then trading would be easy and everybody would do it. Not holding any can be more of a gamble than holding.
 

Tmac

Adventurer
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I'm long af in BTC and ETH. I don't want anymore tax events taking 25% of my investment, so I'm just HODL'ing.
 
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Haus

<Silver Donator>
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This can't possibly be legitimate...
Check it.. It's not as accurate when you go too far back from the ATH, but since, it's a pretty clear "Get in/Get Out" indicator. One of the traders I watch is Krowne from Krowne's Crypto Cave on Youtube and he's been going nuts for the last month on how much the "damn witches" are just as good at trading as anybody he knows... Although I had one thing backwards... For some reason the FULL moon is the darker circle, and the new moon is the brighter.
1627346590317.png


Another likewise predictor that vibes well also is if you do a fib time extension from the previous low to the ATH I think....
 
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Ravishing

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Check it.. It's not as accurate when you go too far back from the ATH, but since, it's a pretty clear "Get in/Get Out" indicator. One of the traders I watch is Krowne from Krowne's Crypto Cave on Youtube and he's been going nuts for the last month on how much the "damn witches" are just as good at trading as anybody he knows... Although I had one thing backwards... For some reason the FULL moon is the darker circle, and the new moon is the brighter.
View attachment 364151

Another likewise predictor that vibes well also is if you do a fib time extension from the previous low to the ATH I think....

I thought you were full of shit cause I know we just had a full moon.

Not that I totally buy it but perhaps other countries value moon cycles a little heavier than Wall Street? 🧐
 

swayze22

<Bronze Donator>
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Check it.. It's not as accurate when you go too far back from the ATH, but since, it's a pretty clear "Get in/Get Out" indicator. One of the traders I watch is Krowne from Krowne's Crypto Cave on Youtube and he's been going nuts for the last month on how much the "damn witches" are just as good at trading as anybody he knows... Although I had one thing backwards... For some reason the FULL moon is the darker circle, and the new moon is the brighter.
View attachment 364151

Another likewise predictor that vibes well also is if you do a fib time extension from the previous low to the ATH I think....
Sounds like Econometrics time
 

Arden

Trakanon Raider
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"Notwithstanding our interest in the space, the speculation that has ensued around our specific plans for cryptocurrencies is not true," said a spokesperson from Amazon."

Womp womp. Except... They are still hiring that crypto lead position. Also, they don't deny that they are breaking into the crypto space, they are just implying that the rumor got their "specific plans" wrong.
 
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Haus

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"Notwithstanding our interest in the space, the speculation that has ensued around our specific plans for cryptocurrencies is not true," said a spokesperson from Amazon."

Womp womp. Except... They are still hiring that crypto lead position. Also, they don't deny that they are breaking into the crypto space, they are just implying that the rumor got their "specific plans" wrong.

My bet is still that they will launch their own coin/token. Then Amazon Gift Cards will really just by some of the Amazon Crypto.
 

Haus

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WalMart is also setting the stage for this. Where they sell gas you can pay cash, or you can get a .05 a gallon discount if you walk inside, buy a WalMart gift card and load it up with your cash to pay for gas. It's essentially WalMart Coin pegged to (Dollar+.05) for gas. I bet eventually they'll extend it to the store "Get 1% off with your WalMart gift card!"

Amazon adopt that same strategy, to get people to load up on the Amazon coin giving it liquidity as they could then back it with cash and become the first business with it's own currency (potentially insulating it from coming Dollar insanity). I should say the first MODERN company with their own currency... As a nod to "St Peter don't ya call me cause I can't go, I owe my soul to the company store" and such.
 
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