Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

Let’s clear out the last remaining weak hands before price discovery and new all time highs.

@mistercrypto
Bitcoin is making a textbook triple bottom price pattern now.

I'm buying the dip.

https://x.com/misterrcrypto/status/1878417392839131482

I was trying to price in bitcoin mining hosting yesterday and found out that it is economically unfeasible with current cost of production of about 70K/btc and even used machines (S21) cost being close to $5K. Therefore, mining is only for low cost producers aka large companies, unless you want to acquire less btc (then in the outright purchase) and maybe even lose $$ in the end.

Basically, buying the dip (or ETFs for those with no current skill/knowledge) is the only option.

I've earned my whole stash from mining, and lost half my stash mining, so I'm not giving any advice, but depending on what the price will do, how you get your electricity, how you get your money, it can make sense.

True that, but rn S21 produces $10.82 a day with cost of a used machine $4750.
Buying that $10.82 in btc a day now (and continuing with buying daily $ production of S21) is PRONE to make out better than mining on that machine (unless the price spikes tremendously and you would make money by just reselling the machine at 2-3X...that happened before). The latter is an exception, of course.

having done dca and mining.

mining makes less more often than dca.

but in any given short time period mining could work better.