Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Well, if you sell old corn, it's not really "the bottom" 
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?
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.
Hmm, i don't even believe in any "miner costs control price" dynamics. It can only have a tiny fraction of influence on the price, i'm not that dumb
Seems like the good ol' misunderstanding, but i am not too surprised, because i picked out a wee aspect of a complex system, where one output parameter results in the property "price".
But the initial thought was quite simple and might have mislead you in believing that i look at the market in a simple way. Well, sometimes i do, when i try to explain bitcoin to noobs (rarely) but that's a whole different story. To be honest, my understanding of market details and their dependencies is very limited, but every now and then some new understandings click into place, and your detailed posts about the matter also contribute to this more often than not.