/biz/ - Business & Finance

[Anonymous No.19021554]

J0E007 SENDS A FUCKING MESSAGE MOTHERFUCKERS

PRODUCTION COST NOW $14000

PRICE IS 8500

MINERS ARE ABOUT TO GET FUCKED HARD

SEE YOU AT 3K

[Anonymous No.19021617]

>>19021554

JOE007

Some Legends go out in Battle

[Anonymous No.19022564]

>>19021554
>faggot007 guise

absolute state of this board.

[Anonymous No.19022615]

Fake. Joe is hiding behind a rock after losing $ 20 million+

[Anonymous No.19022699]

Kek
>no one mining btc too cheap
>supply goes down
>hold coins to not sell at loss
>demand increases
>price increases
It’s literally that easy

[Anonymous No.19022710]

>>19022615
>Joe is hiding behind a rock

Wrong. https://www.bitfinex.com/pulse/profile/J0E007

>after losing $ 20 million+

Position never closed, just removed from public view. That position WILL close in profit and you are about to be schooled fucking hard.

The halving is not the magic money machine that all the crypto dipshits on youtube believe it to be. They and the over leveraged miners must be destroyed before we reach market equilibrium.

[Anonymous No.19022721]

>>19022699
retard

[Anonymous No.19022734]

>>19021554
>PRODUCTION COST NOW $14000
WRONG

JOE IS PAOLO

[Anonymous No.19022755]

>>19021554
Its time to come home frens.

[Anonymous No.19022768]

>>19021554
wait til difficulty adjust next week...

[Anonymous No.19022805]

>>19021554
priced in

[Anonymous No.19022912]

>>19022699

>Kek
>>over leveraged clueless chinese miners irrevocably mining at a loss because they bought into the 'halving=price go up' meme. Their break even target due to the halving is now BTC at $14K. It is at $8K (and going down) - ruhroh.jpeg
>>their loans are still valued the same though! ruhroh2.png
>>their loans were actually fucking collateralized in their current bitcoin stash and mining equipment FUCKINGLOL ruhroh3.exe
>>must now start selling all inventory to catch up with those loans
>>price starts tanking, other miners are also now fucked, causing a price cascade down to fuck knows where
>>with competing miners out of the market and retail in true capitulation, market begins to reach equilibrium somewhere in the low thousands
>It’s literally that easy

Basically correct I just had to change a few details

[Anonymous No.19023072]

>>19022710
>The halving is not the magic money machine that all the crypto dipshits on youtube believe it to be.
or is it

[Anonymous No.19023217]

>>19021554
>>19022710
>>19022912
Sniff sniff. What's that smell? Oh, I know. Desperation.

[Anonymous No.19023484]

>>19022912
>imagine thinking miners are so dumb

[Anonymous No.19023516]

>>19021554
Lie. Energy has never been cheaper

[Anonymous No.19023589]

>>19021554
>J0E007
literally who?

[Anonymous No.19023623]

>>19022699
dont spoonfeed the retards

[Anonymous No.19023661]

BTC always does the opposite of what everyone expects

[Anonymous No.19023687]

>> Bitcoiner since 2012
BTC just entered the 6.25 block reward epoch and the reduced profitability started its death spiral.
Half the block reward means half the profitability. This means the less efficient miners leave the network as they can no longer compete. Total amount of hash power drops and because the difficulty remains the same the time between each block increases. So far it looks like about 40 minutes per block, possibly longer, this is 4 times as long as usual making profitability drop even further. BTC profitability is now 1/8th what it was in the previous block epoch.
BTC was half way through its 2016 block difficulty adjustment cycle leaving about 1008 blocks to go before difficulty adjust to match the reduced block reward. So in a best case scenario if all the current miners stay on board and hash power doesn't reduce further, it'll take at least 28 days before the difficulty adjusts to increase the profitability from where it is now.
The slower block times also mean reduced transaction capacity and increased fees. Eventually the mempool will be so full of transactions that nodes will start to fail.