milwaukee mike Posted February 2, 2018 Report Share Posted February 2, 2018 https://coincheckup.com/coins/spankchain/charts/basic Spankie gave it a good run but he will go down with the rest. spankchain still better than fazz coin Quote Link to comment Share on other sites More sharing options...
IAG Posted February 2, 2018 Report Share Posted February 2, 2018 spankchain still better than fazz coinDon’t forget Cobbinhood. I think BTC stop dropping literally as soon as I sold last round. Sell the dip. Buy high! Quote Link to comment Share on other sites More sharing options...
Colonel Lingus Posted February 2, 2018 Report Share Posted February 2, 2018 did some chart work, I wish I knew how to easily post them. btc @ $6000 - give or take a little depending on the timing is major support. if it breaks that look out below. I'll probably roll the dice at that level and buy a decent position that trend line is going to act like a magnet Quote Link to comment Share on other sites More sharing options...
IAG Posted February 2, 2018 Report Share Posted February 2, 2018 did some chart work, I wish I knew how to easily post them. btc @ $6000 - give or take a little depending on the timing is major support. if it breaks that look out below. I'll probably roll the dice at that level and buy a decent position that trend line is going to act like a magnetThanks TJD Quote Link to comment Share on other sites More sharing options...
MonkeyF0cker Posted February 2, 2018 Report Share Posted February 2, 2018 BTC can't go much below $5k just for mining support. If it drops below there, the entire market crumbles. If miners aren't profitable, everything fails. So, if you have any faith in BTC not completely imploding and it hits your $6k levels, tjd, it's a good buy. Quote Link to comment Share on other sites More sharing options...
milwaukee mike Posted February 2, 2018 Report Share Posted February 2, 2018 BTC can't go much below $5k just for mining support. If it drops below there, the entire market crumbles. If miners aren't profitable, everything fails. So, if you have any faith in BTC not completely imploding and it hits your $6k levels, tjd, it's a good buy. but once an operation is going, sometimes it keeps going even at what looks like a loss... gold mining operations were still going at 1000 even if their cash costs were 1200 if equipment is already bought, and someone is getting cheaper electricity, the cost/btc might be smaller than we think i've always thought cryptos would be a victim of their own success... you can't just have a bazillion different coins that suck up all the earth's electricity to mine. oil got down to unprofitable levels, alberta oil collapsed but we're still using oil/gas, so i would argue that miners being unprofitable could create more demand than supply (if supply slows) rather than the other way around... but that really is just background noise Quote Link to comment Share on other sites More sharing options...
Colonel Lingus Posted February 2, 2018 Report Share Posted February 2, 2018 BTC can't go much below $5k just for mining support. If it drops below there, the entire market crumbles. If miners aren't profitable, everything fails. So, if you have any faith in BTC not completely imploding and it hits your $6k levels, tjd, it's a good buy.thats a good point but commodities can and do stay below production costs for years the current uranium market is a prime example. Spot price has been $20-$30 for a few years and the average "all in" production costs for miners is about $50. They need $70 for new mines. So that market is in liquidation. The weakest are already BK. The strongest have just now started cutting production. Then supply/demand fundementals takes over. High prices are the cure for high prices. Low prices are the cure for low prices. Then the cycle starts over again. But BTC is so new it will be interesting to see if it follows all that. Quote Link to comment Share on other sites More sharing options...
MonkeyF0cker Posted February 2, 2018 Report Share Posted February 2, 2018 but once an operation is going, sometimes it keeps going even at what looks like a loss... gold mining operations were still going at 1000 even if their cash costs were 1200 if equipment is already bought, and someone is getting cheaper electricity, the cost/btc might be smaller than we think i've always thought cryptos would be a victim of their own success... you can't just have a bazillion different coins that suck up all the earth's electricity to mine. oil got down to unprofitable levels, alberta oil collapsed but we're still using oil/gas, so i would argue that miners being unprofitable could create more demand than supply (if supply slows) rather than the other way around... but that really is just background noiseOil rig counts kept declining like crazy when the oil prices tanked. I certainly won't be mining to make an electric company richer if it became unprofitable. Takes all of 5 seconds to shut down my mining rigs. I would imagine shutting down oil rigs and gold mines has quite a bit more red tape. Quote Link to comment Share on other sites More sharing options...
Colonel Lingus Posted February 2, 2018 Report Share Posted February 2, 2018 MM beat me to it. nice post Quote Link to comment Share on other sites More sharing options...
MonkeyF0cker Posted February 2, 2018 Report Share Posted February 2, 2018 thats a good point but commodities can and do stay below production costs for years the current uranium market is a prime example. Spot price has been $20-$30 for a few years and the average "all in" production costs for miners is about $50. They need $70 for new mines. So that market is in liquidation. The weakest are already BK. The strongest have just now started cutting production. Then supply/demand fundementals takes over. High prices are the cure for high prices. Low prices are the cure for low prices. Then the cycle starts over again. But BTC is so new it will be interesting to see if it follows all that.That's when the sharks eat the tadpoles. If those big companies can weather the storm they have market dominance when prices rebound. It takes all of one switch for people to compete again in this instance. When mining is unprofitable in cryptos, you're much better off simply buying the crypto speculatively than continuing to mine it at a loss. So, in that sense, they aren't really the same. Quote Link to comment Share on other sites More sharing options...
Colonel Lingus Posted February 2, 2018 Report Share Posted February 2, 2018 exactly MF. Market leader in Uranium Cameco in Canada just shut the worlds largest/highest grade uranium mine and is buying in the spot market to fulfill contracts. The spot U308 price is bound to go up. BTC here to stay, no doubt about it. Just got over extended like the nasdaq 18 years ago zinc is another example. glencore cut production two years ago and zinc now in a raging bull market Quote Link to comment Share on other sites More sharing options...
Colonel Lingus Posted February 2, 2018 Report Share Posted February 2, 2018 you guys who have made a ton of $$ in cryptos should be rotating out and buying zinc.....or for the contrarians buying uranium Quote Link to comment Share on other sites More sharing options...
WeinkeToWarrick Posted February 2, 2018 Report Share Posted February 2, 2018 I feel like I mushed crypto The price I bought some of this shit at would make you guys laugh Quote Link to comment Share on other sites More sharing options...
Colonel Lingus Posted February 2, 2018 Report Share Posted February 2, 2018 I feel like I mushed crypto The price I bought some of this shit at would make you guys laughbeen there man, don't beat yourself up. Easy to get caught up in the hype - live and learn. maybe cryptos will be different. Quote Link to comment Share on other sites More sharing options...
WeinkeToWarrick Posted February 2, 2018 Report Share Posted February 2, 2018 I just sold all bitcoin/Ethereum/litecoin that I had for pennies on the dollar. Probably deal with the alts tomorrow and hope they bounce back slightly overnight, if not I’ll just take the loss. It’s depressing Quote Link to comment Share on other sites More sharing options...
Monitor-Tan Posted February 2, 2018 Report Share Posted February 2, 2018 I just sold all bitcoin/Ethereum/litecoin that I had for pennies on the dollar. Probably deal with the alts tomorrow and hope they bounce back slightly overnight, if not I’ll just take the loss. It’s depressing Quote Link to comment Share on other sites More sharing options...
BAUS Posted February 2, 2018 Report Share Posted February 2, 2018 alberta oil collapsedYes but that was mostly Brock’s fault. BAUS Quote Link to comment Share on other sites More sharing options...
Monitor-Tan Posted February 2, 2018 Report Share Posted February 2, 2018 Yes but that was mostly Brock’s fault. BAUS Quote Link to comment Share on other sites More sharing options...
Colonel Lingus Posted February 2, 2018 Report Share Posted February 2, 2018 Yes but that was mostly Brock’s fault. BAUS BAUS give the forum a winner for tommorow sir Quote Link to comment Share on other sites More sharing options...
BAUS Posted February 2, 2018 Report Share Posted February 2, 2018 Need to see what the line comes out at for the Vegas/Minnesota game. BAUS Quote Link to comment Share on other sites More sharing options...
MonkeyF0cker Posted February 2, 2018 Report Share Posted February 2, 2018 exactly MF. Market leader in Uranium Cameco in Canada just shut the worlds largest/highest grade uranium mine and is buying in the spot market to fulfill contracts. The spot U308 price is bound to go up. BTC here to stay, no doubt about it. Just got over extended like the nasdaq 18 years ago zinc is another example. glencore cut production two years ago and zinc now in a raging bull marketGood stuff, tjd. Quote Link to comment Share on other sites More sharing options...
milwaukee mike Posted February 2, 2018 Report Share Posted February 2, 2018 Yes but that was mostly Brock’s fault. BAUS well he became bullish on cryptocurrencies right near the top too add bitcon to the mush list... which already included a whole city (alberta), a whole country (brexit), a presidential election (trump), and countless other games, seasons, careers, and lives Quote Link to comment Share on other sites More sharing options...
D-Hustle Posted February 3, 2018 Author Report Share Posted February 3, 2018 that $500 in litecoin I bought on Tuesday is now worth $351 fml. should've just got scratchers instead. Quote Link to comment Share on other sites More sharing options...
sleepy Posted February 3, 2018 Report Share Posted February 3, 2018 that $500 in litecoin I bought on Tuesday is now worth $351 fml. should've just got scratchers instead. you should sell that shit before it goes to zero better to lose 149 rather than 500 Quote Link to comment Share on other sites More sharing options...
joeybagadonuts Posted February 3, 2018 Report Share Posted February 3, 2018 well he became bullish on cryptocurrencies right near the top too add bitcon to the mush list... which already included a whole city (alberta), a whole country (brexit), a presidential election (trump), and countless other games, seasons, careers, and livesCorrect. Knew I should have got out when he puffed out his poverty midget chest and was posting pics of his bitcoin deposits into 5crimes. Quote Link to comment Share on other sites More sharing options...
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