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Global Blockchain Technologies Breakout?Over the last few months Global Blockchain Technologies Corp broke out of its long price action slump with the announcement of a name change (...LOL...). Now they have announced involvement in crypto mining. Coupled with the fact that institutional investors are super yield hungry in an environment with prolifically low return on capital rates - even negative with inflation in many cases - this could be a monster trade. In pure technical terms, regardless of the fundamentals, we have an ascending wedge that could breakout to the upside. A break above the max consolidation range will also be a signal taking this stock very high, which used to trade at one point in time at $460! Cheers and GLWT! -Erik
BLong
by Trader6127
24
ETH Miners will move to Monero and other GPU coins www.coindesk.com Ethereum plans to upgrade its proof of work dramatically lowering the profits for GPU miners. I feel that much of Ethereums strength came from its well distributed mining algo and now we will see a huge movement not only of hashpower but also funds to other GPU minable coins. Remember the key to Crypto is Hashpower, Crypto cannot be separated from proof of work. PoW is what makes Coin=Energy, that is what makes it fair and distributed. I therefore feel very uncertain and Bearish about Ethereum and its outlook and Bullish for other ASIC resistant coins such as Monero.
POLONIEX:XMRUSDLong
by Emperor_Penguin
2
MGTI - Double before EOY. Moon in 2018MGTI is the largest miner of bitcoin in the U.S. but only a portion of their total rig count is up and running. MGTI will have 4700 mining rigs Q1 2018 with approximately 3500 up and running early January. Chart indicators: 1) Massive Cup+Handle Formation 2) Triple Bottom 3) Falling wedge / Handle 4) Q3 earnings come out Nov 9 (likely after hours). The earnings will show gains made by the company as they expanded their bitcoin mining operations in Q3 and Q4. Q3 should give us a "taste" of what to expect in Q4 followed by Q1 2018 which will probably be the mother lode as they'll have all 4700 rigs cranking out coin by then. They also have the plays on Sentinel and the privacy phone but I don't really care about those. I'm all about the mining. Look for $5-6 by January and $12-15 summer 2018. Buy now for less then $2!
OTC:MGTILong
by jdharward
2
Bitcoin (BTCUSD) - Costs 1.3k+ to mine priced at 7.2k o_OAs you can see here the prob of Bitcoin crushing past 7.5k --> breakout --> Bubble We need a healthy consolidation to around cost of making a bitcoin, otherwise the bubble that is to follow could lead to a gov wipeout of everything. (vertical log climbing is only seen with bubbles) Think of it this way: 1oz Gold costs 1100+ to mine --> priced at 1269 usd <--- see the difference? o_O 1 Bitcoin costs 1300+ to mine --> priced at 7230 usd <--- see the difference? o_O Let's say you argue for blockchain technology, well arn't there tons of crypto with exact same function as Bitcoin? Yes there are and how expensive are they? So let's say the cap of Bitcoin would be 50k or 1million usd, what is the incent to buy a bitcoin then if a bitcoin fork does the same job for who nows how many % cheaper price? Of it's driven buy earning returns on Bitcoin. There are currently around 1260 different crypto coins so you can't argue any more that the blockchain technology is worth anything close to 1300 dollars. Then again you could argue that Bitcoin is different, but really, comon, now let's be real. The difference between Bitcoin and Bitcoincash is speculation, slim at most with a difference in the number of transactions per day favoring Bitcoincash if i remember it correctly. Perhaps this is precisely what the gov wants, blowing up prices so no major player wanna touch it, regulate the crap out of it. I invested 1 % in Bitcoin at feb of this year but still there is no logical reason to not take profits right now, just watch at the price action and try analysing it with different indicators.. If nothing makes sense anymore + vertical climb + all indicators pointing to the same thing only a bubble can explain a growth to infinity. And this my friends is NOT a currency! Money don't behave like this. Only the dotcom bubble stocks even come close to what we see in the cryptosphere. Trade depending on resistance line ( still i would take profits here ) //cheers, thefreedommatrix
BITSTAMP:BTCUSDShort
by thefreedommatrix
4
DIGITAL NECKLACE: An analogy for blockchain valueTranscript: One of my previous posts aimed to justify the price that Bitcoin has. It's value is the accumulation of work put in by miners over quintillions of hashes. The current block is 491040. Taking data from historical hashrates, I get 193,142,784,388,787 terahashes in total. The data I can't easily get is how much each hash or terahash costs. Using 200 W power draw for 1 GH/s and 0.08 USD KW/h for prices. Let's try doing this via assuming Bitcoin were fully centralized. - Suppose a single person is hashing this. - His hashrate is 702,161.589 TH/s since 2009. Finally his power draw would be Hashrate / WattageCard. This gives a total of 3.5 GW. This person has been drawing 3.5GW on his rig since 2009. Now taking in the price into account: Operational cost = 2.46M USD/year @ {3.5GW, $0.08 KW/hr} Since that's the cost per year, and the data I used spans averages over 9 years, total cost of the network has been around 24M USD. If the calculations are valid, that means that in the market, the cost of operation is only 20% of the price. Note that since this is from the supply side, no prices of Bitcoin have to be taken into account. It's simply operational cost assuming constant electricity prices. If we now consider capital, if each card costs on average 600 dollars, and 1 out of 100 ARM/AMD/NVDIA units are dedicated to mining, I speculate that 100,000 cards and cores have been dedicated to mining. That cost makes mining go up to 60M USD. In total, electrical costs and invested capital, we could approximate that 80M USD have gone into Bitcoin mining. According to the current price and market cap report, there is a 20M surplus in costs not considered here and speculation. At the time of writing, the market value is 101M. That brings me to the second part of this writing. While we can agree that Proof-of-Work is an abstract concept, the previous calculations don't make it that different from the invented jobs without purpose throughout the history of the United States, trying to cover up financial failure and trying to keep unemployment at bay. Once we take history into account, that 20M gap can be explained with what we, people in crypto, appreciate. Let me exemplify with a tangible creation, more relatable to non-savvy users. Consider the following: There is a group of people at the beach. They find a string and some beads, so they decide to tie a really string knot and add their beads. On those beads, they write their names, and they write the name of the previous bead. They leave the beach with some instructions for the necklace. As time goes on, people find the necklace and add their own beads, following the rules. If someone notices that a bead isn't following the rules, that bead is taken out and the necklace keeps the tradition. This necklace started tied to a pole on the beach. The first users added a few dozen beads. That makes the necklace perhaps 10 centimeters long. That's shorter than an adult hand. But after years, 9 to be more precise, the line has almost half-a-million beads. That's already around 2 kilometers long. It's no longer just the price of the beads and the effort people have put into threading them. There is some human value put into the trust and care. It's more than just a beach object with beads. It's part of the history of everyone involved in the creation of this. That is how we see Bitcoin, in a more abstract sense. It's more than just electrical costs and burned GPUs. It's forks and news. Fighting FUD and losing money over hacks. It's seeing your networth rise despite others telling you to sell, because you are part of the chain.
BITSTAMP:BTCUSDLong
by UnknownUnicorn1038536
1
GFI: Bought at market open - Huge potential, great fundamentals$GFI is an optimal pick when it comes to gold miners. The valuation is very good, and growth exhibited by the company this year exciting. The situation in South Africa has scared investors away, but I believe it will be a very interesting trend going forward. At the same time, this play serves as a risk off bet, which is welcome in the current enviroment. We are long with a 10% position from 14.09 as of today's open. Best of luck if joining me on this trade. The monthly trend is potentially up, and there is a chance to confirm a rally to considerable heights by the end of the month. Cheers, Ivan Labrie.
NYSE:GFILong
by IvanLabrie
8
Rio Tinto - Up or Down ?Rio has successfully completed a rising wedge pattern - broke down the support line and now it's slowly going to test it. It seems like very likely the support becomes a new resistance and stock is going to go down. However, it has also stopped at the 50MA with slightly increased volume, which may signal also a support. Now, it is crucial to watch the lower trend line of the wedge, whether it breaks it back or not and based on that Rio will choose its next journey.
LSE:RIO
by Turpan
Buy First Majestic Silver up to 8.20 USDIt´s been the right thing to wait with any recommendation in the mining sector. But now I feel the time is right. As explained I believe silver has a great potential over the next 8-12 months. The best way to play a multi-months rally in silver are some of the best but currently beaten down silver mining stocks. First Majestic Silver without a doubt is one of the best companies in this sector. Focused on silver production in Mexico the company is run by mining legend Keith Neumeyer. Although First Majestic has been consolidating sideways since October last year I think the stock is at a very interesting juncture. We might be a bit early to the party but the risk/reward is just phenomenal! With a stop loss at 6.50 USD and a 1st profit target at 19.00 USD the idea has an initial 1:3 risk/reward-ratio. But First Majestic could easily take out 19.00 USD and we might scale in a couple more times once the stock has clear the downtrend line at 8.20 USD.
NYSE:AG
by MidasTouchConsulting