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Congratulations shills. We're back at $225! (self.Buttcoin)

TulipCoinsanti-social marketer[M] が 投稿

$225 is a psychological hell for butters. A number that means mining is highly unprofitable and should force miners to dump more coins causing increased downward pressure. Further squeezing of butts is obviously 'good for bitcoin'

I tip my fedora to all of you. Congratulations. They'll no doubt be a healthy bonus at the end of the month. Corporate are extremely happy.

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[–]Hold_And_Pray 8ポイント9ポイント  (1子コメント)

It's good seeing this dangerous new technology getting slowly crushed to death under the iron-heeled boot of state oppression.

[–]perpetually_scammed 2ポイント3ポイント  (0子コメント)

It's funny how everyone was afraid of bitcoin getting crushed by nation-states, when in reality, most countries left it alone and its downfall was its own user-base comprised of hyper-egotistical, greedy, selfish, antisocial man-children who couldn't come to an agreement if their life depended on it (their money depended on it and they sure couldn't do it).

[–]c3739 7ポイント8ポイント  (0子コメント)

Finally, stability.

[–]goalkeeperr 5ポイント6ポイント  (0子コメント)

1 BTC = 1 BTC! always, checkmate statist!

[–]BartKoen 3ポイント4ポイント  (0子コメント)

Don't forget to say "thank you" to our colleagues from China for the exemplary job they did at Huobi.

I was watching that 20K coins dump live and it went through the order book like hot drill bit through butter before it switched to CHEAP COINS! phase. Did somebody get "hacked" again, or is some miner a weak hand and quitter?

[–]smog_alado 3ポイント4ポイント  (1子コメント)

A number that means mining is highly unprofitable and should force miners to dump more coins causing increased downward pressure.

Whats so special about $225 in this regard? Don't mining costs depend on electricity costs?

[–]ButtersBeButtin 6ポイント7ポイント  (0子コメント)

Just did some math.

To make ~$225 a day by mining, you would need 110,000 GH in mining power.

110,000 GH * 10 Watts/ GigaHash * 1 kiloWatt/1000 Watts * 24 hours = 26,400 kWh in power a day.

If you're paying US$0.009 per kWh (well below the US and even global average, think rural Chinese miners using heavily subsidized power) it will cost you around $235 a day in electricity.

So $225 is that point where it's fallen below the B/E and doesn't seem to be picking back up quickly. This causes miners to dump their coins to cover costs, putting further downward pressure on the price.

[–]JeSuisEuphorique 5ポイント6ポイント  (0子コメント)

I cannot hear you over the sound of me skullfucking a dead bull.

[–]Cyrius 2ポイント3ポイント  (1子コメント)

I've been assigned to organize the celebratory "pizza" "party". What does everyone want?

[–]SooperModelsDotCom 0ポイント1ポイント  (0子コメント)

The dried tears of a thousand Butters, please.

[–]smedwed 2ポイント3ポイント  (0子コメント)

It's the Goatse that did it.

[–]SooperModelsDotCom 1ポイント2ポイント  (0子コメント)

Now is a great time to buy!

Cheap coinz!

[–]GAW_CEO 1ポイント2ポイント  (0子コメント)

good job everyone.

[–]dumbassbitcoiners 1ポイント2ポイント  (0子コメント)

I expect a one billion Stanley nickel payment as my bonus!

[–]BLUEMEANIE4 1ポイント2ポイント  (1子コメント)

no, the problem is that at some price level below $200, the mining rewards dont cover the cost of electricity.

the Butters claim that this will result in people turning off their mining gear, the difficulty will reset and the problem will fix itself.

except that's never happened and there is really no indication this is how things will pan out. Probably what would happen is we'd have a period of uncertainty followed by miners using their hash power to fork the chain and steal Butts.

[–]aaffddssaa 1ポイント2ポイント  (0子コメント)

Probably what would happen is we'd have a period of uncertainty followed by miners using their hash power to fork the chain and steal Butts.

I'm not sure that's what would happen. Since the peak back in December of 2013, we haven't seen the price dip below $200 for more than a very short period... if we see sustained price levels below $200 (e.g. for at least a few weeks), I have no idea how it'll play out, but whatever happens I'm sure it'll be entertaining.

[–]zivilars666 1ポイント2ポイント  (0子コメント)

I'll be honest: I am surprised that we are still at $225. A year / half a year ago I was expecting that we will already be in the lower double digit Bitcoin apocalypse days by now. Doesn't change my expectation of the exact same outcome in the end, of course, but wondering how long this will still take.