1 BTC = 4369.90 USD was used.
Kind of weird to watch one's mining earnings between payouts DECLINE instead of INCREASE.
Poor Red Squirrel, he's probably taking a bath on all of this too.
Hope you aren't getting hit too hard by all this. I know you're on fixed income and all. It's gonna get worse, too, though if you keep hashing, you'll see things even out with time. I experienced it in 2016 with the ETH crash. Hashpower will go offline, and you'll be back in the thick of it, so long as you keep your machines running. At least until ASICs ruins your day (which they may not, depending on what you're actually mining these days).
Damn. It's bloodshed. Current bitcoin price is $4,634. Current ethereum price is $134.
BTC down to $4744. ETH has leveled off at $133 (which is surprising; not sure what's holding it up). I predicted a retrace to March 2017 price levels and it looks like we're headed there.
I'm not surprised at the crash but am surprised how long it took to get here. I thought it would've happened lot sooner.
It should have happened sooner than now. The offshore banking, the shady stablecoins, the delays in major blockchain updates . . . it's been quite a mess in 2018. What's funny is the number of people who assume that this current bear run is related to the BCH fork (which is a joke in and of itself). What's next, a Bitcoin Diamond hard fork?
Anyway, all this mess should have played out in August. Some idiots HODLed too long, and some other idiots pumped money into the system to prop up prices.
I do feel for people suffering real heavy money losses. I feel your pain having gone through really bad dotcom stock crash back in 2000 and difficult. market crash of 2008. Memories of the dotcom crash and the immense pain I went through is what kept me out of joining the crypto party. For people who are still holding on, you have to take the good with the bad.
I'm fascinated by those still holding tokens by this point. Maybe if they bought the highs, I can understand it. But the signs of major market decline have been there for months. Who really thought we were going to see an upswing? I mean, it's gonna turn around eventually, and I know it's hard to catch a falling knife. But damn if you bought BTC at $19k or ETH at $1.4k and you had a shot to sell your BTC at $9k or ETH at $500, why wouldn't you do that so you could buy in later to increase your stack?
If they keep HODLING, some of those tokens will go back up to their ATHs. Some of them won't. Best not to HODL the eventual failures.
I feel bad for anyone who lost any major money. Whether in stocks, housing, Vegas casinos, bad business deals, whatever. It's bad karma to wish or to take delight on misfortune of others. As for "Speculative Bubble", it's matter of perspective. After bitcoin crashed back in around 2013 or so and later and was trading at around $250-300 per bitcoin, I entertained the thought of buying some. But almost everyone told me bitcoin bubble had popped and I would be stupid to buy bitcoin at $300. So I didn't and bought gold instead back in 2015. Even when I first started this thread last year and bitcoin had just passed the price of gold, people were saying bitcoin was in massive speculative bubble. So maybe it is. But it's all about perspective and timing. People who bought at over $15,000 probably thought it was going to $30,000 just like people who bought at $1,500 when I started this thread thought it was going to $3,000. When bitcoin was $15,000-20,000, it sure felt like it was going to $30,000.
Many thought ETH would hit five digits and BTC would hit six. But man, for that to happen, it would have taken massive investment in crypto, which still hasn't happened. And the institutional investors do not want to pay that much per token when many of us got in on the ground floor. They want in on the ground floor too.
