Is it a good time to buy Bit coin now? It has dropped to US$34,156 today.

[nightsafari]

BTC price is down?!!! Shit!

er... advise ditching holdings if you have. may fluctuate, but there are no fundamentals behind it. Only gambling.

 

[nightsafari]

this would be the floor price if it's accurate. did u manage to verify the figure of 4-5k per Bitcoin is current? because by design, coins mined get lesser over time forcing the price upwards assuming demand remains consistent.

so basically more energy is needed over time to generate 1 Bitcoin.

there's also hardware cost. I guess amortized over 2-3 years?

rental/land costs for the mega mining farms?

labour cost for a wrench monkey to keep everything running?

add that all in and the last figure I saw floating around 1-2 months ago was around $23-25k per coin iirc

hah! you beat me to it. The energy cost is quite a big part of it, but also the hardware costs. These operations are hardly professionally run and accounted for. Most are prospectors and not businesspeople. Instead of amortized guess expensed immediately.

I'm with you on $20k+ per coin as theoretical NTA.

However, it is an NTA with no real value. Merely a hypothetical one. For a better description of the $20k+m try "sunk cost".

 

[nightsafari]

K L N

Moral of the bulls sai.:

Be like me.
Keep all my Rupiahs in biscuit tins below my bed.

no way! Then you will have no money in the end because of the devaluation of the rupiah over time. Try another currency or gold in the biscuit tin. According to Boss sam, as long as it's a durable investment, it will be fine.

 

[CoffeeAhSoh]

May I ask if you have bought?

i bought some at USD40k

 

[nightsafari]

i bought some at USD40k

sorry to hear that... hope it's not too big a holding. my personal view is sell on strength or cut loss.


but ah.... think for yourself please. don't listen to me only....

 

[CoffeeAhSoh]

 

[CoffeeAhSoh]

sorry to hear that... hope it's not too big a holding. my personal view is sell on strength or cut loss.

i thinking of Double Down the size on the "short" ...

 

[CoffeeAhSoh]

 

[nightsafari]

i thinking of Double Down the size on the "short" ...

you mean cut and reverse? certainly tenable. but if you wish to do so have to be quick and decisive. If there's a false uptick people sometimes get scared out of their positions. Dithering will also screw you up.

that's why I stay far, far away from assets without fundamentals.

 

[50000]

I wan to buy some of these coins so that I can buy NFT Art. Was not comfortable to use my credit card to pay for the purchase. Are there any other ways?

 

[nightsafari]

I wan to buy some of these coins so that I can buy NFT Art. Was not comfortable to use my credit card to pay for the purchase. Are there any other ways?

paypal?

 

[CoffeeAhSoh]

i will just hold the old position @USD40k.

too much risk to cut losses and double short to recover .

 

[CoffeeAhSoh]

 

[glockman]

er... advise ditching holdings if you have. may fluctuate, but there are no fundamentals behind it. Only gambling.

No lah, I intend to hold long term and see what happens. It's long term gambling, let it do its thing.

 

[Loofydralb]

It will test 30K again. Once that is broken....its $17K next.

 

[nightsafari]

No lah, I intend to hold long term and see what happens. It's long term gambling, let it do its thing.

let 'em roll!

 

[nightsafari]

It will test 30K again. Once that is broken....its $17K next.

where you get this technical analysis? ownself?

 

[Loofydralb]

where you get this technical analysis? ownself?

Let the future speak for me.

 

[nightsafari]

Let the future speak for me.

not doubting it, just wondering how you came to the conclusion.

 

[glockman]

let 'em roll!

Come on, be a BTC convert just like good ole Jordan