Quote from: Searing on November 23, 2019, 12:32:58 AM

Quote from: Astargath on November 22, 2019, 07:46:30 PM

https://www.coincurb.com/news/china-unlikely-to-have-caused-recent-bitcoin-crash/

I don't think China was the cause of the 'recent' crash. Bitcoin has definitely been in a bad downtrend for weeks now. I'm sure these 'news' about China didn't help but that's not why Bitcoin has been doing bad all these weeks.

I'm afraid so. The catch is mining is in full miner capitulsation now....with 60% of Bitmain S9's IMHO on the sha256-pow network...they are gonna fall off the wagon..thus...miners

are not HODL'ing anymore and they are selling coin in mass to pay for data hall and other past real life issues ..they are mostly underwater at a $7,250 usd btc price. Thus no HODL'ing

as most would want and MUST sell some coin to do real life issues. ...it sucks...add the need to (and probably can't) buy newer asic equipment that makes sense (see previous posts

i did under profil) but at 10c kwh and $7,350 usd Bitmain S17 pro 56TH miner at 2100 watts (moderate setting on watts) and you make $2.09 a day. When I looked today at also 10c

kWh a Bitmain S9i is negative -75c usd per day.

It is damn ugly out in the world.

Then as the OP states here...did China really crash BTC? I'm afraid so..the only other leg on the 3 legged stool left when mining as one and price as the other and trading/speculating is 3rd

leg of the stool....well the trader's and the nice little bots and long bets all got 'stuffed' on the China FUD on the BTC specific crackdown..mostly only noise that it is anyway.

Thus it is either a buy place to be for BTC or I should sell my Hoard and get completely out of BTC to cash.

I'm ridding it down, dumped $2,003 USD into BTC today and yesterday....boom or bust baby. My base figure is it MUST someday get above and stay above $10,000 USD in the future.

So I'm buying accordingly what I can afford bit by bit below that. If I don't think this is buy time for BTC, well then my BTC kool-aid drinking days are over and with my hoard

since 2013 it is all she wrote baby.

Boom or Beanie Baby I am gonna ride BTC either up to the heavens or down into a mine...what the heck..it is only money.

Boom or Doom I guess.

(hey, are we having 'fun' yet?) (sob!)

brad

If this was true, most miners would have been bankrupt by now. The price was at $3000 and climbing slowly since January 2019... so if your

calculations are accurate, most miners would have operated at a loss for months. (Difficulty might have dropped over that period) In any way,

I think the drop in the price was triggered by the Chinese news and the fud that was spread as a result. You only need a little bit of negative

news for the price to spiral down and to trigger the trade bots to sell. Roll Eyes