Bitcoin price discussion and analysis

[frugal.rock]

The recent rise of spitcoin is having knock-on effect's, imo.
NVIDIA up 6.4%, Qualcomm 4.5%, AMD 3.5%, Intel & Taiwan Semi 2.9 & 2.8% on Friday.
Mining is getting back on the agenda....
@over9k have you got your rigs back online? Any further ideas here?

 

[over9k]

The recent rise of spitcoin is having knock-on effect's, imo.
NVIDIA up 6.4%, Qualcomm 4.5%, AMD 3.5%, Intel & Taiwan Semi 2.9 & 2.8% on Friday.
Mining is getting back on the agenda....
@over9k have you got your rigs back online? Any further ideas here?

View attachment 151982

Mining still isn't profitable, so nope.

 

[frugal.rock]

Mining still isn't profitable, so nope.

About what price would spitcoin need to be then, assuming all things equal between the different coins that you might mine? (Spitcoin equivalent)
Thanks in advance

 

[over9k]

It's more a question of some long term tailwinds driving it - just because it's profitable to mine at ABC point doesn't mean I'd go dumping XYZ into a mining setup to do it.

Even if we saw a doubling (or tripling) I'd want to be confident of long term crypto strength and, well, I'm not at the moment.

 

[over9k]

Not even worth it for "free" heating:



If you're looking for a degen growth run FNGU/TQQQ/TNA are much better options IMO.

 

[farmerge]

Mining still isn't profitable, so nope.

Interesting to see who consults who and what. Ah to have a wise sage in the background as back=up

 

[farmerge]

Not even worth it for "free" heating:

Is it because he knows no better and just wants to do his hard earned.

 

[over9k]

Is it because he knows no better and just wants to do his hard earned.

To be honest, if you have a spare room and a ducted heating/cooling setup in your house it would actually be a hell of a way to use (save on) the heat.

Computer chips are only about 1% efficient - 99% of the power that goes into them is lost as heat. True story.

 

[noirua]

June 7, 2021 - Donald Trump: Although financially-sovereign countries like the U.S. can try to fight it, it may be a fool's game in the long run. Because Bitcoin is a decentralized, hard digital money that is impossible for any president or regulator to ban, El Salvador's choice to adopt it before an eventual bitcoin accumulation race by countries around the world may turn out to be the better strategy after all.

https://www.nasdaq.com/articles/former-u.s.-president-donald-trump-says-he-doesnt-like-bitcoin-because-it-competes-with?amp&amp_js_v=0.1&usqp=mq331AQHKAFQArABIA==

 

[farmerge]

June 7, 2021 - Donald Trump: Although financially-sovereign countries like the U.S. can try to fight it, it may be a fool's game in the long run. Because Bitcoin is a decentralized, hard digital money that is impossible for any president or regulator to ban, El Salvador's choice to adopt it before an eventual bitcoin accumulation race by countries around the world may turn out to be the better strategy after all.

https://www.nasdaq.com/articles/former-u.s.-president-donald-trump-says-he-doesnt-like-bitcoin-because-it-competes-with?amp&amp_js_v=0.1&usqp=mq331AQHKAFQArABIA==

Hmm, hmm and more hmm

 

[arco]

The action has moved north from a downward diagonal

 

[IvoryWolf]

Want a quick summary of what happened to Bitcoin over the past week?

Check out for a one minute summary as well as the extended version at for further details. Enjoy!

 

[noirua]

Aussies revealed as prime targets of Israel crypto scam syndicate

A raid of several scam call centers in Eastern Europe has found that Australians are among the most targeted group by an Israeli-masterminded cryptocurrency scam.

cointelegraph.com

Evidence uncovered after a full-scale raid of four Serbian call centers and 11 residences by Serbian, German, Bulgarian and Cypriot authorities found that Australians were among the top countries being targeted. The news came from a Feb. 23 report by The Australian.

 

[IvoryWolf]

Bitcoin (and Ethereum) still struggling to breach resistance levels at this point, which remains a bit of a drag on the crypto markets... will this latest advance currently playing out right now hold?

Check out the charts yourself and see in the latest update (crypto section timestamped in the descriptions box, and the same with other sections that may be of interest):

 

[noirua]

Bitcoin price slides 5% in 60 minutes amid Silvergate uncertainty

The price of BTC fell over 5% in an hour on March 3, coinciding with recent uncertainty around Silvergate Bank after its delayed 10-K filing.

cointelegraph.com

 

[noirua]

 

[IvoryWolf]

Following on from Monday's post about Bitcoin and Ethereum resistance areas (looking at the recent discussion in the video episode recorded for the week ending 24th February 2023), here's a Crypto alert for 3rd March 2023, with both Bitcoin and Ethereum testing support levels noted in that video episode.

 

[IvoryWolf]

Both Bitcoin and Ethereum yet again testing support levels noted from recent discussion in episode recorded in week ending 3rd March 2023, following on from comments by Federal Reserve Chairman Jerome Powell earlier this morning, Australian time, noting it was likely interest rate hikes were more than likely going to be at a faster rate than anticipated.

 

[noirua]

Bitcoin price drops to $20.8K as regulatory and macroeconomic pressure mounts

BTC margin and options markets are steady, even as investors run for cover as crypto and stock prices fall.

cointelegraph.com

 

[noirua]

Bitcoin loses 21k support, as contagion from Silvergate enters banks, financials sector

SVB Financial Group (SIVB) is down 65% and has been halted on the main exchange several times.

cryptoslate.com