Quote from: Palmerson on April 04, 2018, 05:25:06 PM

Quote from: bobo012 on April 04, 2018, 04:58:03 PM

Quote from: Wind_FURY on April 04, 2018, 06:30:43 AM

Quote from: Denker on April 03, 2018, 09:32:37 AM

Quote from: figmentofmyass on April 02, 2018, 10:51:48 PM

Quote from: Canis Majoris on April 02, 2018, 07:36:28 PM

I come to think that we can't fall massively below 5,000 dollars per BTC - if ever - unless some major whale - of the Mt. Gox trustee's scale - decides to cash out. I base my assumption on the premise that people who bought coins at high prices like over $12-$15k won't be selling at prices below some psychological limit because selling at such prices will be pointless and their only viable option will be to continue holding.

that's not how market psychology works. you're being far too rational. irrational despair and exuberance dominate markets, and emotions dominate traders.

so here's what usually happens: those people who bought at $15k? they think rationally like you for quite some time. but the price drops and drops and eventually, they start to wonder if the price will ever recover. then the crash accelerates. panic ensues. these once rational hodlers who were so strong at $8000 are suddenly so much weaker at $5000 and below.

these are the bulls that sell the bottom on high volume in bitcoin's classic v-bottoms. then they provide lots of buying power on the way up when they want to recover their coins. you should only devote yourself to hodling if you can actually keep your cool during crashes and avoid selling into bottoms.

Absolutely right. Furthermore we shouldn't forget that costs for mining BTC may be at a level around $3k-$4k. So even some big miners have still lots of room for shenanigans. Don't think it's just big retail investors or funds who can play games. The miners are heavily involved as well.
Markets tend to stay longer irrational than you or we can stay solvent. So never over invest and or think to rational and believe you know what's the market going to do. You'll get burned very bad with that kind of mentality.

I believe that is incorrect. Doesn't it cost $8000, give or take a few hundred, to mine 1 Bitcoin? Can a miner make a comment on this and explain all the facts?

Speculation based on false information is pointless.

I am also interested in this topic. some people say cost of mining is around 3 to 4k and some 7 to 8k. The reality is that since we have been at this prices last years, hashrate has nearly tripled. So at the same prices as 4 months before, miners are not as profitable, they have a lot more competition.

Competition does not affect the cost. If bitcoin mining costs 3-4K dollars, this amount does not change except for the region in which the production occurs due to the cost of electricity. It seems to me that the rise in the price of bitcoin will be very soon. If miners are really interested in the prospects of bitcoin that now need to negotiate with developers and come up with a mechanism in which bitcoin will be used in trade.

It does not affect your cost, your electricity bill if you dont add more rigs will stay the same, however price you pay per mined bitcoin will go up. You will need more time to produce it and it means more electricity per bitcoin.