Poll
Question: Closing BTC Price June 28:
$0 - 5 (2.6%)
<$7,000 - 4 (2.1%)
$7,000-$7,499 - 0 (0%)
$7,500-$7,999 - 0 (0%)
$8,000-$8,499 - 1 (0.5%)
$8,500-$8,999 - 3 (1.6%)
$9,000-$9,499 - 4 (2.1%)
$9,500-$9,999 - 27 (14.2%)
$10,000-$10,499 - 26 (13.7%)
$10,500-10,999 - 15 (7.9%)
$11,000-$11,499 - 14 (7.4%)
$11,500-$12,000 - 17 (8.9%)
>$12,000 - 59 (31.1%)
>$20,000 - 15 (7.9%)
Total Voters: 190

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 21253987 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (68 posts by 16 users deleted.)
aminorex
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September 02, 2014, 01:57:24 AM

... going to continue to put upward BTC price pressures because they are going to want to get their money back and they are going to want to make a hefty profit, too.

The miners want the most they could get for their coin, regardless of how badly they need the money or what they paid for their gear.  The buyers want to pay the least for their coin, again regardless of all that stuff.  Absolutely no more pressure if the miners are mining at a loss.
A pawn shop won't pay you more for your wedding ring just because you *really* need the money.  It's likely to pay you less.

I think his point was that any miner who pays more for the kit than will allow for a positive ROI is obviously not under pressure to sell.  They are happy to pay above market for future bitcoin. They are clearly not requiring a positive return, so they must be finding utility in other factors.  They are clearly very interested in acquiring bitcoin, and there is no reason to think they will sell them, unless perhaps to introduce others to their hobby.