Quote from: vapourminer on June 30, 2022, 03:17:33 PM

LISSENUP BUDDY you have no idea of the ancient, evil, cursed hardware we might stick you in.

these kinds of posts do not reflect well upon you.

Quote from: a1 Hashrate LLC2022 on June 30, 2022, 04:01:13 PM

The mining bear for a 7 cent paid off farm with all s17's is at wait for it:

15k

math as follows

2kwatts x 24 = 48 kwatts a day round to 50

50 x 0.07 = $3.50 power cost

50 x 0.083 = $4.15 gross profit at 19k

net of 4.15-3.50= 65 cents a day profit.

but at 15k

15/19= .7895 x 4.15= 3.27631 that is a 22 cents lost for a 7 cent miner with all s17's paid off.

7 cent is based on 6 cent power and building labor dead gear = 1 penny more.

this means we did not go bear for a miner. with 6+1 = 7 cent cost.

I am at lower power than that.

13k would be 13/19= .6842 x 4.15 = 2.839 in earnings my power cost is 4 cents + 1 = 5 cents so 5 x 50 = 2.50

2.839- 2.50 = 33 or 34 cent profit on my s17's

So for well setup miners we are not fully bear.

I could see 15-17 easy peasy in the next month and if we get there we need to stay there 2 diff jumps to fully shake most miners

I would be okay as low as 13k after that I would be mining at a loss.

For now I am ready to buy if we go to:

17
16
15
14
13
12?

You don't have any loans or leverage in your calculations?

Some of the miners who got fucked or are about to get fucked are the ones who played their finances really BIG in terms of the amount of leverage that they were using to buy new equipment, hold rather than sell bitcoin and maybe expanding their operations faster than they should have reasonably expected to have been able to do.. which in some sense relied upon BTC prices either staying flat (no loer than $30ks) or going up.. and surely were not sufficiently prepared for BTC price to go down.. maybe even some of them starting to suffer pretty severely once BT prices got below $25k or so.

Quote from: nutildah on June 30, 2022, 04:44:01 PM

Quote from: vapourminer on June 30, 2022, 10:40:28 AM

Quote from: nutildah on June 30, 2022, 07:52:20 AM

How we all doing?

ZZZZZZZZZZZzzzzzzzz

you?

Quote from: JayJuanGee on June 30, 2022, 07:58:21 AM

Good, and you?

Hey fellas. Not too bad, all things considered. Was away for awhile. Had a few drinks, saw a few things...

I believe what the current situation boils down to is:

There's a lot of uncertainty right now but the one thing I'm sure of is the fundamentals of what we believe in haven't changed.

The only thing that has changed is macroeconomic conditions. Bitcoin has only ever lived in a bull stonk market until now. So is this a broader correction or something deeper? Let's hope its the former.

Well we have macroeconomic conditions, true.. but we also have a lot of risky and highly leveraged players contributing to some of the cascading downity pressures in recent times (even more so as of May-ish), no?

In other words, it is not just macroeconomic conditions that put us in our current place of ongoing downity pressures. Some other folk believe that we are just in a normal cycle.. I have my doubts, but the normal cycle theory is not without some possible validity.. including that the trend is your friend, and once momentum is going down, the bearwhales are going to push it down as far as they can and for as long as they can including but not limited to playing whatever dirty tricks that they are able to pull out of their hats (if they wear hats like "we" do?).

Quote from: death_wish on June 30, 2022, 05:19:07 PM

Oh my gawd, JayJuanGee is expecting sub-$1k prices! Panic! SELL! mindrust!)

Not expecting.

Waiting for.

Tongue

Quote from: Biodom on June 30, 2022, 05:36:46 PM

The whole world is in "oh, s-t" state.

How long it would continue-who knows. All TA is irrelevant now, sorry, and so is trying to decide when to buy.

The best plan is to NOT have a plan.

Is that the Biodom way?

or did you steal that plan from someone else?

#justasking.

Quote from: Biodom on June 30, 2022, 05:36:46 PM

It's laughable, but sometimes I have a thought that this bitcoin price decrease is to prevent people from "escaping" either fiat OR even physically.

I don't disagree with you, but I doubt it was preordained or anythng like that. You must have been reading Torque's playbook to come up with that idea.

Stop reading the playbooks of other members. !!!!

Angry

Quote from: Biodom on June 30, 2022, 05:36:46 PM

It's OT, but I sold some assets (not bitcoin) a couple of days ago to at least finish the major renovation project (just an old habit of finishing things that you set up to do) without a need to sell at the bottom.

I cannot disagree with you about that. I am considering some additional changes to my own asset/cash reorganizing efforts.. that includes (or will be mostly focused on) non-bitcoin assets, too. It may take me a couple of weeks for me to work it out, and I might disclose some aspects of it later, because even though it does not immediately involve bitcoin, it is likely to have some down the road effects on bitcoin due to changes in some of my cashflow thjat would run into the future and then have a kind of cumulative effect.

Quote from: Biodom on June 30, 2022, 05:36:46 PM

I looked at various second passports and/or residencies and there is NOTHING that represents a true escape. Some Caribbean entities look cheap, but they are just placeholders. Europe is very expensive and/or defeats the purpose of "escaping".

Oh, well, here goes nothing.

Gosh.. Biodom lives in a small world.. or at least he is arguably selective.. so ultimately nothing wrong with that, even though I thought that the world was a wee bit moar bigger than that.. but for sure each of us have our preferences and inclinations too.