Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
If bitcoin keeps falling soon it won't be enough to just hold BTC. Every holder will have to buy a miner and make it work at home. Because falling under $ 17 000 will force many miners to turn off their equipment. Those who mine with S17 and pay $0.1 per kilowatt lose $1.2 every day if 1 BTC costs $ 20 000.
Oh my God... I just had this terrible thought... This could lead to a sort of negative feedback loop! Ahh, what could we call it... an "abysmal spinning down". No too clunky. Umm, a "deceasement loop"... nah deceasement is not a word, is it?
I don't know... someone could come up with a good name for it.
How have we never thought of this before?
...death spiral ?
When people started talking about a death spiral in 2018 the bottom was in.
This is from December 3, 2018. It's by a University professor of finance "expert".
https://www.ccn.com/worthless-bitcoin-has-entered-death-spiral-finance-professor/
Silly professor
Only if there was some kind of automatic procedure to change the hardness of the puzzle every two weeks or so depending on the supply/demand for mining
Lots of gamblers selling BTC, lots of people buying BTC meh world moves on. Fill up your bags and hunker down in about 638days all global miners will work for 10min for just BTC3.125 if my math is right about 50kg of gold is mined every 10min globally or about $3MM worth
The grizzled investors mentioned in that article got it right by following your strategy.
Quote
with an eye on the bitcoin price and an eye on the calendar, grizzled investors can offer a brief reply: “We’ll see.”