Page 2 of 3 FirstFirst 123 LastLast
Results 31 to 60 of 77

Thread: What happened to the interest in Bitcoin?

  1. #31
    Quote Originally Posted by idiom View Post
    Bitcoin used 4 times as much energy as the whole of Google last year, like 0.5% of the worlds total.

    How much energy would bitcoin use if as many people used it as used Google? (a factor of 1000x)

    How much energy would it take for bitcoin to handle as many transactions as Paypal? (70x)

    Banks that switched currency to a crypto-currency have to do all the crypto-energy costs on top of their regular costs.
    This post is mostly incorrect. That last part about banks in particular.

    There already is a bitcoin 'bank': Coinbase. They run a few full nodes-that's all. I'm sure their HVAC bill for their building costs more than their bitcoin related electricity costs. As a 3rd party off-chain business they don't mine for additional bitcoins. You see, mining is not something all nodes must do. In fact the original design was for bitcoin miners to end up in datacenters. Like they are today!
    I want more freedom and I cannot lie. No other brothers can deny. When the Fed marches in with a itty-bitty rate and the IRS takes your cake, it's no FUN!



  2. Remove this section of ads by registering.
  3. #32
    Coinbase is a forex platform not a bank.

    Banks cover things like invest, loans, financial planning, insurance.

    Bitcoin uses vast amounts of energy as its backing the way the US dollar uses nukes. The currency is only as safe as the cost of the energy used to maintain it. It takes a single entity a huge amount of processing power to create half the mining. That amount of energy has to be worth more than the currency or it makes it worthwhile attempting to subvert the processing.

    The more bitcoin becomes worth, the more energy it has to consume to defend itself. Its part of the design. As efficiency goes up, it just gets cheaper to attack, so the energy level has to be maintained.

    Quote Originally Posted by dannno View Post
    Fake news... there were some articles out last year that reported on someone who calculated the amount of electricity used and it was completely and totally wrong, it was off by like hundreds of x's (times)
    If this was correct then it would be 100x easier to attack bitcoin than is currently calculated.
    In New Zealand:
    The Coastguard is a Charity
    Air Traffic Control is a private company run on user fees
    The DMV is a private non-profit
    Rescue helicopters and ambulances are operated by charities and are plastered with corporate logos
    The agriculture industry has zero subsidies
    5% of the national vote, gets you 5 seats in Parliament
    A tax return has 4 fields
    Business licenses aren't a thing
    Prostitution is legal
    We have a constitutional right to refuse any type of medical care



  4. Remove this section of ads by registering.
  5. #33
    Quote Originally Posted by dannno View Post
    No, you're answer is horse $#@! because loss of interest over time would explain a decline over time, not a 15% drop in one day.

    Your answer was unthoughtful, incorrect, a canned establishment response, and complete horse $#@!.

    The reason for the price drop was mostly related to the bitcoin cash fork.
    He didn't ask about why the 15% drop happened, he asked why nobody was talking about it.

    I'm starting to understand your Trump problem...

  6. #34
    Quote Originally Posted by TheCount View Post
    He didn't ask about why the 15% drop happened, he asked why nobody was talking about it.

    I'm starting to understand your Trump problem...
    Why doesn't anybody cover the gyrations in the tulip market any more?
    In New Zealand:
    The Coastguard is a Charity
    Air Traffic Control is a private company run on user fees
    The DMV is a private non-profit
    Rescue helicopters and ambulances are operated by charities and are plastered with corporate logos
    The agriculture industry has zero subsidies
    5% of the national vote, gets you 5 seats in Parliament
    A tax return has 4 fields
    Business licenses aren't a thing
    Prostitution is legal
    We have a constitutional right to refuse any type of medical care

  7. #35
    Google Trends:



    https://www.ccn.com/bitcoin-opinion-...ing-to-an-end/

    Does that correlate to price?

    Last edited by Zippyjuan; 11-18-2018 at 02:17 PM.

  8. #36
    Quote Originally Posted by idiom View Post
    Why doesn't anybody cover the gyrations in the tulip market any more?
    Exact same reason there aren't gold and silver threads anymore.
    Quote Originally Posted by Swordsmyth View Post
    Pinochet is the model
    Quote Originally Posted by Swordsmyth View Post
    Liberty preserving authoritarianism.
    Quote Originally Posted by Swordsmyth View Post
    Enforced internal open borders was one of the worst elements of the Constitution.

  9. #37
    Quote Originally Posted by TheCount View Post
    Exact same reason there aren't gold and silver threads anymore.
    Smaulgld is trying to do his part. Buy his coffee cups and help support him.

  10. #38
    Quote Originally Posted by Zippyjuan View Post
    Smaulgld is trying to do his part. Buy his coffee cups and help support him.
    That's the best idea you've had so far.
    "He's talkin' to his gut like it's a person!!" -me
    "dumpster diving isn't professional." - angelatc
    "You don't need a medical degree to spot obvious bullshit, that's actually a separate skill." -Scott Adams
    "When you are divided, and angry, and controlled, you target those 'different' from you, not those responsible [controllers]" -Q

    "Each of us must choose which course of action we should take: education, conventional political action, or even peaceful civil disobedience to bring about necessary changes. But let it not be said that we did nothing." - Ron Paul

    "Paul said "the wave of the future" is a coalition of anti-authoritarian progressive Democrats and libertarian Republicans in Congress opposed to domestic surveillance, opposed to starting new wars and in favor of ending the so-called War on Drugs."

  11. #39
    Quote Originally Posted by TheCount View Post
    Exact same reason there aren't gold and silver threads anymore.
    Except that those gold and silver threads will be back, bitcoin won't.

    Bitcoin is a fad. Gold and silver are not.
    Last edited by Madison320; 11-19-2018 at 09:53 AM.

  12. #40
    Quote Originally Posted by Madison320 View Post
    Except that those gold and silver threads will be back, bitcoin won't.

    Bitcoin is a fad. Gold and silver are not.
    Could be. Fads can affect anything; just because gold is a physical object doesn't mean that it can't be affected by fads and hype.

    I'm more referring to the prevalence of the threads as being related to the current performance of the commodity than saying anything about the underlying item. Gold and silver are not doing well enough right now to plaster the forum in threads the way they once did.
    Quote Originally Posted by Swordsmyth View Post
    Pinochet is the model
    Quote Originally Posted by Swordsmyth View Post
    Liberty preserving authoritarianism.
    Quote Originally Posted by Swordsmyth View Post
    Enforced internal open borders was one of the worst elements of the Constitution.



  13. Remove this section of ads by registering.
  14. #41
    Quote Originally Posted by idiom View Post
    Why doesn't anybody cover the gyrations in the tulip market any more?
    I still have tulips for sale .
    Do something Danke

  15. #42
    Quote Originally Posted by TheCount View Post
    Exact same reason there aren't gold and silver threads anymore.

    What's funny about that is now is probably the best time in 8 years to have gold threads. I have never been a gold guy but the fundamentals are there with the positioning of large speculators and hedgers combined with the budgets which could be even more substantial in a recession.

    There is a good chance gold finally wore out all but the most hardcore of goldtards and is ready for an advance in the coming years. Maybe not. But it is the first time I have been bullish on gold.

  16. #43
    Quote Originally Posted by Krugminator2 View Post
    What's funny about that is now is probably the best time in 8 years to have gold threads. I have never been a gold guy but the fundamentals are there with the positioning of large speculators and hedgers combined with the budgets which could be even more substantial in a recession.

    There is a good chance gold finally wore out all but the most hardcore of goldtards and is ready for an advance in the coming years. Maybe not. But it is the first time I have been bullish on gold.
    Gold tends to do well when the economy is bad. When the economy is good, people lose interest in it.

  17. #44
    Quote Originally Posted by Zippyjuan View Post
    Gold tends to do well when the economy is bad. When the economy is good, people lose interest in it.
    That's due to fiat currencies.

    If people used money that had real value like gold or bitcoin in the marketplace, then people would be scrambling for gold and bitcoin to use to purchase investment capital for their businesses when the economy is good. Instead they scramble for fiat to purchase those things, because the government says so. The paper only has value because the government enforces it as a legal tender.
    "He's talkin' to his gut like it's a person!!" -me
    "dumpster diving isn't professional." - angelatc
    "You don't need a medical degree to spot obvious bullshit, that's actually a separate skill." -Scott Adams
    "When you are divided, and angry, and controlled, you target those 'different' from you, not those responsible [controllers]" -Q

    "Each of us must choose which course of action we should take: education, conventional political action, or even peaceful civil disobedience to bring about necessary changes. But let it not be said that we did nothing." - Ron Paul

    "Paul said "the wave of the future" is a coalition of anti-authoritarian progressive Democrats and libertarian Republicans in Congress opposed to domestic surveillance, opposed to starting new wars and in favor of ending the so-called War on Drugs."

  18. #45
    Quote Originally Posted by dannno View Post
    That's due to fiat currencies.

    If people used money that had real value like gold or bitcoin in the marketplace, then people would be scrambling for gold and bitcoin to use to purchase investment capital for their businesses when the economy is good. Instead they scramble for fiat to purchase those things, because the government says so. The paper only has value because the government enforces it as a legal tender.
    Of course if gold was legal tender it too would technically be a "fiat" currency.

  19. #46
    Quote Originally Posted by Zippyjuan View Post
    Of course if gold was legal tender it too would technically be a "fiat" currency.
    Nobody said the government should make anything the "legal tender", but it should be legal to use gold, or anything, for tender.
    "He's talkin' to his gut like it's a person!!" -me
    "dumpster diving isn't professional." - angelatc
    "You don't need a medical degree to spot obvious bullshit, that's actually a separate skill." -Scott Adams
    "When you are divided, and angry, and controlled, you target those 'different' from you, not those responsible [controllers]" -Q

    "Each of us must choose which course of action we should take: education, conventional political action, or even peaceful civil disobedience to bring about necessary changes. But let it not be said that we did nothing." - Ron Paul

    "Paul said "the wave of the future" is a coalition of anti-authoritarian progressive Democrats and libertarian Republicans in Congress opposed to domestic surveillance, opposed to starting new wars and in favor of ending the so-called War on Drugs."

  20. #47
    Quote Originally Posted by dannno View Post
    That's due to fiat currencies.

    If people used money that had real value like gold or bitcoin in the marketplace, then people would be scrambling for gold and bitcoin to use to purchase investment capital for their businesses when the economy is good. Instead they scramble for fiat to purchase those things, because the government says so. The paper only has value because the government enforces it as a legal tender.
    Except that bitcoin has no real value either. Bitcoin is a private, free market currency, with no value. Dollars are a government mandated fiat currency with no value. Both are flawed.

  21. #48
    Quote Originally Posted by Madison320 View Post
    Except that bitcoin has no real value either. Bitcoin is a private, free market currency, with no value. Dollars are a government mandated fiat currency with no value. Both are flawed.
    Bitcoin has real value because it is currently valuable without coercion being involved.

    Both gold and bitcoin have their pros and cons.. Yes, gold has cons. Gold is easier to steal, and gold is harder to ship across borders and across the globe. Bitcoin is very difficult to steal and it goes across borders and across the globe with ease.

    On the other hand, bitcoin is somewhat dependent on electricity and internet. Gold is physical.

    That doesn't mean bitcoin is better than gold, it just means it is more valuable in some areas and less in others. They should both be used as stores of value and to transact. I recommend both.
    Last edited by dannno; 12-11-2018 at 06:09 PM.
    "He's talkin' to his gut like it's a person!!" -me
    "dumpster diving isn't professional." - angelatc
    "You don't need a medical degree to spot obvious bullshit, that's actually a separate skill." -Scott Adams
    "When you are divided, and angry, and controlled, you target those 'different' from you, not those responsible [controllers]" -Q

    "Each of us must choose which course of action we should take: education, conventional political action, or even peaceful civil disobedience to bring about necessary changes. But let it not be said that we did nothing." - Ron Paul

    "Paul said "the wave of the future" is a coalition of anti-authoritarian progressive Democrats and libertarian Republicans in Congress opposed to domestic surveillance, opposed to starting new wars and in favor of ending the so-called War on Drugs."



  22. Remove this section of ads by registering.
  23. #49
    Quote Originally Posted by dannno View Post
    Bitcoin has real value because it is currently valuable without coercion being involved.

    Both gold and bitcoin have their pros and cons.. Yes, gold has cons. Gold is easier to steal, and gold is harder to ship across borders and across the globe. Bitcoin is very difficult to steal and it goes across borders and across the globe with ease.

    On the other hand, bitcoin is somewhat dependent on electricity and internet. Gold is physical.

    That doesn't mean bitcoin is better than gold, it just means it is more valuable in some areas and less in others. They should both be used as stores of value and to transact. I recommend both.
    So far, bitcoin has been a poor store of value because it does not hold its value relative to other things (whether you look at dollars, gold, or goods and services). It has value because people think it does.

  24. #50
    Quote Originally Posted by Zippyjuan View Post
    So far, bitcoin has been a poor store of value because it does not hold its value relative to other things (whether you look at dollars, gold, or goods and services). It has value because people think it does.
    It's a poor store of value because it exceeds all of those other things? Wow. That's some pretzel logic.
    "He's talkin' to his gut like it's a person!!" -me
    "dumpster diving isn't professional." - angelatc
    "You don't need a medical degree to spot obvious bullshit, that's actually a separate skill." -Scott Adams
    "When you are divided, and angry, and controlled, you target those 'different' from you, not those responsible [controllers]" -Q

    "Each of us must choose which course of action we should take: education, conventional political action, or even peaceful civil disobedience to bring about necessary changes. But let it not be said that we did nothing." - Ron Paul

    "Paul said "the wave of the future" is a coalition of anti-authoritarian progressive Democrats and libertarian Republicans in Congress opposed to domestic surveillance, opposed to starting new wars and in favor of ending the so-called War on Drugs."

  25. #51
    Quote Originally Posted by dannno View Post
    It's a poor store of value because it exceeds all of those other things? Wow. That's some pretzel logic.
    Store of value means it does not change relative to other prices of things. It is much more volatile which means it is a terrible store of value. Just within the last year it has been as high as $20,000 and as low as $3300. I don't consider it "exceeding all those other things".

  26. #52
    Quote Originally Posted by Zippyjuan View Post
    Store of value means it does not change relative to other prices of things. It is much more volatile which means it is a terrible store of value. Just within the last year it has been as high as $20,000 and as low as $3300. I don't consider it "exceeding all those other things".
    A better determination of what is a good store of value, for a thinking person, would be whether it holds or exceeds the value compared to many other things over a long period of time.


    If you look at a 9 year chart of bitcoin, you can see that it exceeds the value of almost everything in existence over that period of time.

    As opposed to saying that it has gone down over the last year and lodging that as a complaint, it would be better to look at the value 5 or 10 years down the road.
    "He's talkin' to his gut like it's a person!!" -me
    "dumpster diving isn't professional." - angelatc
    "You don't need a medical degree to spot obvious bullshit, that's actually a separate skill." -Scott Adams
    "When you are divided, and angry, and controlled, you target those 'different' from you, not those responsible [controllers]" -Q

    "Each of us must choose which course of action we should take: education, conventional political action, or even peaceful civil disobedience to bring about necessary changes. But let it not be said that we did nothing." - Ron Paul

    "Paul said "the wave of the future" is a coalition of anti-authoritarian progressive Democrats and libertarian Republicans in Congress opposed to domestic surveillance, opposed to starting new wars and in favor of ending the so-called War on Drugs."

  27. #53
    Quote Originally Posted by dannno View Post
    A better determination of what is a good store of value, for a thinking person, would be whether it holds or exceeds the value compared to many other things over a long period of time.


    If you look at a 9 year chart of bitcoin, you can see that it exceeds the value of almost everything in existence over that period of time.

    As opposed to saying that it has gone down over the last year and lodging that as a complaint, it would be better to look at the value 5 or 10 years down the road.
    To continue above average growth you need an ever increasing number of people wanting to buy and use it. The average person got interested when they saw its soaring value last year and helped push its value to $20,000. They have now seen that what goes up will also go down and have lost interest. They are not likely to return. For them, it was a one- time novelty.

    But bitcoin will not go to zero value as long as there are true believers like you around. But even "true believers" are contributing to lowering prices of bitcoin. One was seen with the recent fork where different opinions on what bitcoin should be led to a split. It is also being diluted by all the hundreds of different coins popping up. Fewer merchants are accepting it (few people were actually spending their bitcoins anyways- they were bought with speculation in mind).

    Just my opinion, but I think bitcoin has seen its best days.

  28. #54
    Quote Originally Posted by Zippyjuan View Post
    To continue above average growth you need an ever increasing number of people wanting to buy and use it. The average person got interested when they saw its soaring value last year and helped push its value to $20,000. They have now seen that what goes up will also go down and have lost interest. They are not likely to return. For them, it was a one- time novelty.

    But bitcoin will not go to zero value as long as there are true believers like you around. But even "true believers" are contributing to lowering prices of bitcoin. One was seen with the recent fork where different opinions on what bitcoin should be led to a split. It is also being diluted by all the hundreds of different coins popping up. Fewer merchants are accepting it (few people were actually spending their bitcoins anyways- they were bought with speculation in mind).

    Just my opinion, but I think bitcoin has seen its best days.
    You had the same opinion when bitcoin went up to $1,100, then went back down to $250.

    People lost interest.. it's seen it's best days already.. true believers, new coins..

    You can't even keep track of what is going on to form a valid opinion. It was bitcoin cash that forked recently, not bitcoin. Bitcoin cash was a bitcoin fork that happened a long time ago.

    People will find out soon enough that fiat currencies and the world banking establishment are screwing them over, and that open source crypto currencies like bitcoin are the way to go to defeat them.

    I don't care what the price is today, tomorrow or next week. In 5-10 years it won't matter.
    Last edited by dannno; 12-12-2018 at 04:44 PM.
    "He's talkin' to his gut like it's a person!!" -me
    "dumpster diving isn't professional." - angelatc
    "You don't need a medical degree to spot obvious bullshit, that's actually a separate skill." -Scott Adams
    "When you are divided, and angry, and controlled, you target those 'different' from you, not those responsible [controllers]" -Q

    "Each of us must choose which course of action we should take: education, conventional political action, or even peaceful civil disobedience to bring about necessary changes. But let it not be said that we did nothing." - Ron Paul

    "Paul said "the wave of the future" is a coalition of anti-authoritarian progressive Democrats and libertarian Republicans in Congress opposed to domestic surveillance, opposed to starting new wars and in favor of ending the so-called War on Drugs."

  29. #55
    Quote Originally Posted by dannno View Post
    You had the same opinion when bitcoin went up to $1,100, then went back down to $250.
    Yes, I did. It is just a fad in my opinion- not a "serious" investment or currency.

  30. #56
    Quote Originally Posted by Zippyjuan View Post
    Yes, I did. It is just a fad in my opinion- not a "serious" investment or currency.
    ...and you were seriously wrong, it went up about 80x after that.

    It will go up 100x - 1000x again.
    "He's talkin' to his gut like it's a person!!" -me
    "dumpster diving isn't professional." - angelatc
    "You don't need a medical degree to spot obvious bullshit, that's actually a separate skill." -Scott Adams
    "When you are divided, and angry, and controlled, you target those 'different' from you, not those responsible [controllers]" -Q

    "Each of us must choose which course of action we should take: education, conventional political action, or even peaceful civil disobedience to bring about necessary changes. But let it not be said that we did nothing." - Ron Paul

    "Paul said "the wave of the future" is a coalition of anti-authoritarian progressive Democrats and libertarian Republicans in Congress opposed to domestic surveillance, opposed to starting new wars and in favor of ending the so-called War on Drugs."



  31. Remove this section of ads by registering.
  32. #57
    Quote Originally Posted by dannno View Post
    ...and you were seriously wrong, it went up about 80x after that.

    It will go up 100x - 1000x again.

  33. #58
    Quote Originally Posted by Zippyjuan View Post
    You were saying the exact same $#@! last time, so I spent 4 years buying up more bitcoin.. I was patient. I kept believing.. and it went up 80x..

    So give me one reason why I or anybody should listen to you again?
    "He's talkin' to his gut like it's a person!!" -me
    "dumpster diving isn't professional." - angelatc
    "You don't need a medical degree to spot obvious bullshit, that's actually a separate skill." -Scott Adams
    "When you are divided, and angry, and controlled, you target those 'different' from you, not those responsible [controllers]" -Q

    "Each of us must choose which course of action we should take: education, conventional political action, or even peaceful civil disobedience to bring about necessary changes. But let it not be said that we did nothing." - Ron Paul

    "Paul said "the wave of the future" is a coalition of anti-authoritarian progressive Democrats and libertarian Republicans in Congress opposed to domestic surveillance, opposed to starting new wars and in favor of ending the so-called War on Drugs."

  34. #59
    Quote Originally Posted by dannno View Post
    You were saying the exact same $#@! last time, so I spent 4 years buying up more bitcoin.. I was patient. I kept believing.. and it went up 80x..

    So give me one reason why I or anybody should listen to you again?
    You wouldn't listen anyways. That is ok. Good luck with your investments! I am more conservative with mine. Just a personal choice.

  35. #60
    Quote Originally Posted by Zippyjuan View Post
    You wouldn't listen anyways. That is ok. Good luck with your investments! I am more conservative with mine. Just a personal choice.
    I consider gold and bitcoin "conservative" investments, because the global banks have the system rigged and the way they debase currencies does not seem very conservative to me. It is reckless and foolish. But if that is what you want to invest in, and that is what you consider "conservative", well, go ahead.
    "He's talkin' to his gut like it's a person!!" -me
    "dumpster diving isn't professional." - angelatc
    "You don't need a medical degree to spot obvious bullshit, that's actually a separate skill." -Scott Adams
    "When you are divided, and angry, and controlled, you target those 'different' from you, not those responsible [controllers]" -Q

    "Each of us must choose which course of action we should take: education, conventional political action, or even peaceful civil disobedience to bring about necessary changes. But let it not be said that we did nothing." - Ron Paul

    "Paul said "the wave of the future" is a coalition of anti-authoritarian progressive Democrats and libertarian Republicans in Congress opposed to domestic surveillance, opposed to starting new wars and in favor of ending the so-called War on Drugs."

Page 2 of 3 FirstFirst 123 LastLast


Similar Threads

  1. What happened to the interest in Bitcoin?
    By Madison320 in forum Political Philosophy & Government Policy
    Replies: 0
    Last Post: 11-15-2018, 09:44 AM
  2. Replies: 1
    Last Post: 11-03-2017, 03:55 PM
  3. How Media Interest In The GOP Candidates Compares To Public Interest
    By The Rebel Poet in forum 2016 Presidential Election: GOP & Dem
    Replies: 0
    Last Post: 06-29-2015, 10:03 AM
  4. ‘Record Attendance’ for India Seminar Reveals Keen Interest in Bitcoin
    By muh_roads in forum Bitcoin / Cryptocurrencies
    Replies: 0
    Last Post: 09-11-2014, 01:10 AM
  5. MIT Bookstore Accepts Bitcoin Payments as Campus Interest Grows
    By muh_roads in forum Bitcoin / Cryptocurrencies
    Replies: 0
    Last Post: 09-06-2014, 04:42 AM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •