Quote from: OutOfMemory on Today at 10:53:09 AM

Quote from: JayJuanGee on Today at 04:33:45 AM

Quote from: OutOfMemory on January 24, 2022, 05:58:07 PM

Well, if you sell old corn, it's not really "the bottom" Wink

That makes no sense OOM.

Think again:
If you'd have mined BTC at a price of $300 (for example), how can $35k be the bottom? Huh

Sure, it's not the best profit for a miner, not as much as selling to exchanges at $69k, but it's quite far from "selling at the bottom".

You are not helping to cause any reassurance that the mining costs directs BTC spot price.. There is a lot more going on with the BTC price regardless of that one factor, and you should know that by now... price following hashrate is not reflected in the empirical evidence, but hey, you can believe whatever you like and draw whatever correlations you like including cause and effect directions, too..

And for sure it is even more problematic when you pick such a minority factor in terms of attempting to figure out BTC price dynamics when there are other factors... as I already mentioned .. including stock to flow, 4 year fractal, exponential s-curve adoption based on Metcalfe principles and networking effects (yes mining is one of the 7 network effects.. so it is part of something to consider but surely no leader)....

I think that you are going to have a tough time if you are too overly dependent on your miner costs controls the price narrative, and also likely to miss out on some other important ways of attempting to understand BTCs price... .. but hey.. do what you like... you are not going to get me to go along with such shadows on the wall theories in regards to the miners role in BTC price dynamics.

Quote from: vapourminer on Today at 12:57:05 PM

Quote from: julian071 on Today at 12:07:17 AM

Quote from: AverageGlabella on January 24, 2022, 10:04:10 PM

I think I just made the biggest decision of my life. I have converted nearly all my savings in fiat that I have amounted over my life time and invested all of it into Bitcoin @ around $36,850
[...]

In the end, BTC will either go to zero or it will be a great success. [...]

10 years ago i found bitcoin, and vowed i would ride this pig either into the ground or right to the moon. its allowed me to retire early already.

you and BJA too.. What a coincidence.

Quote from: vapourminer on Today at 12:57:05 PM

its a pretty good ride.

Not for BJA.. I think that he gave up around $500-ish.

Quote from: vapourminer on Today at 12:57:05 PM

and of course it could go to zero tomorrow too. as long as youre cool with that Welcome!

The going to zero scenario seems to be getting smaller and smaller and smaller with the passage of time.

Quote from: vapourminer on Today at 01:19:04 PM

Quote from: Torque on Today at 01:12:55 PM

Quote from: vapourminer on Today at 12:57:05 PM

and of course it could go to zero tomorrow too. as long as you're cool with that Welcome!

After 12 years we are now a lot closer to moon than to zero.

i dunno man my moon is pretty up there. i like BIG numbers not mediocre (even for for ants) numbers. so $35k USD is closer to zero than my moon.

Aren't we already at moon?

I mean sure.. we are likely to go up more, but how could you even imagine such a great scenario already having had played out...

This is amongst the better of scenarios.. seems to me.. how could you really expect much better? except maybe each of us would like to be younger to continue to enjoy.. but still...

I know that a lot of people still cannot recognize the power and importance of BTC.. but is that really a problem? The message is still getting out there and sinking in.. continuously... with more and more people realizing BTC's place on the Gresham's law hierarchy. It's difficult to paint a better scenario -especially for an open sourced revolutionary concept such as bitcoin.. accounting for both the price movement and the passage of time.