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Thread: What happened to the interest in Bitcoin?

  1. #61
    Quote Originally Posted by dannno View Post
    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.
    If a system is rigged, one may be more successful by going along with it than fighting against it.


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  3. #62
    Quote Originally Posted by Zippyjuan View Post
    If a system is rigged, one may be more successful by going along with it than fighting against it.
    Is that your mantra?
    "He's talkin' to his gut like it's a person!!" -me
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  4. #63
    Quote Originally Posted by dannno View Post
    Is that your mantra?
    For investing, yes. I tried contrarianism for a while. I was losing money.


    Donald Trump: 'What you're seeing and what you're reading is not what's happening'

    "Truth isn't truth"- Rudy Giuliani

    "China has total respect for Donald Trump and for Donald Trump's very, very large brain," - Donald Trump.

    "Yeah, I have to say these guys(trolls) are pretty sharp. Sort of good to get a challenge and sharpen your thoughts." NorthCarolinaLiberty

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  5. #64
    Edit
    Last edited by basecommand; 12-26-2018 at 12:17 AM.



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  7. #65
    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.
    lol you are clueless. Bitcoin is not a fad. its the first ever immutable censorship resistant ledger of information... the CIA is TOTALLY UNABLE to tamper with data inside the Bitcoin blockchain because it is protected by work... raw electrical energy.

    no other blockchain provide such security.

    the world never had such a tool before.. let's see what humanity will do with it.

  8. #66
    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.

    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.
    This.. +1

  9. #67
    Quote Originally Posted by Mordan View Post
    lol you are clueless. Bitcoin is not a fad. its the first ever immutable censorship resistant ledger of information... the CIA is TOTALLY UNABLE to tamper with data inside the Bitcoin blockchain because it is protected by work... raw electrical energy.

    no other blockchain provide such security.

    the world never had such a tool before.. let's see what humanity will do with it.
    No, you're wrong. You've got the blockchain technology confused with worthless bitcoins.

  10. #68
    Quote Originally Posted by Madison320 View Post
    No, you're wrong. You've got the blockchain technology confused with worthless bitcoins.
    that's the mistake many established players do.

    The blockchain is only secured if there is a high priced coin securing the network (because its all about raw energy in the end). The CIA can trivially tamper with most blockchains.

    Bitcoin And Blockchain meanings are interwined. Bitcoin is the coin that gave "blockchain" all the current hype around this corporate buzzword.

    Unfortunately, people don't yet grasp the intricacies.

    Shameless appeal to authority.. It took some time for Ron Paul to come around.
    Last edited by Mordan; 12-23-2018 at 11:31 AM.

  11. #69
    Quote Originally Posted by Mordan View Post
    that's the mistake many established players do.

    The blockchain is only secured if there is a high priced coin securing the network (because its all about raw energy in the end). The CIA can trivially tamper with most blockchains.

    Bitcoin And Blockchain meanings are interwined. Bitcoin is the coin that gave "blockchain" all the current hype around this corporate buzzword.

    Unfortunately, people don't yet grasp the intricacies.

    Shameless appeal to authority.. It took some time for Ron Paul to come around.
    Soon to be worthless coin.

  12. #70
    Quote Originally Posted by Mordan View Post
    lol you are clueless. Bitcoin is not a fad. its the first ever immutable censorship resistant ledger of information... the CIA is TOTALLY UNABLE to tamper with data inside the Bitcoin blockchain because it is protected by work... raw electrical energy.

    no other blockchain provide such security.

    the world never had such a tool before.. let's see what humanity will do with it.
    The more the CIA wants to tamper with anyone else's use of the currency the more my transactions cost. I can't see that becoming a huge pain in the ass. Bitcoin topped out at $55 per transaction before people stopped and thought maybe this was a problem. That was without it becoming anywhere near mainstream in usage.
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  13. #71
    Quote Originally Posted by idiom View Post
    The more the CIA wants to tamper with anyone else's use of the currency the more my transactions cost. I can't see that becoming a huge pain in the ass. Bitcoin topped out at $55 per transaction before people stopped and thought maybe this was a problem. That was without it becoming anywhere near mainstream in usage.
    55 usd was the market price to pay when everyone wants to write to the immutable ledger all at the same time.

    its the security model to prevent spam that would kill the network.

  14. #72
    How can BTC survive?

    I was under the impression when the value was way higher than what it is now that it was cost prohibitive to mine the coin. If it was cost prohibitive due to the cost of electricity to mine the coin, how can it be mined when the value of the coin has fallen tremendously yet the cost of electricity has not changed?

    I guess miners just don't mine until the cost goes up. The price increase will be purportedly driven by the limited supply because no new coins had been mined and the coin is more scarce.



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  16. #73
    Here’s how much it costs to mine a single bitcoin in your country

    So-called bitcoin mining is a hot topic of in the cryptocurrency world.

    That’s chiefly because of the rising electricity costs associated with creating new digital coins.

    Lately, miners have flocked to Iceland, known for its relatively moderate climate and the abundance of hydropower. In fact, bitcoin mining energy consumption is set to exceed private consumption, an energy expert told the BBC. And according to the Bitcoin Energy Consumption Index, global energy usage of all bitcoin mining already is equivalent to the power uptake of the country of the Czech Republic, with a population of 10.6 million, and will eventually approach Bangladesh, a country of 163 million people.

    In search of cost savings, cryptocurrency miners traverse the globe to take advantage of cheaper energy. Those virtual miners perform a crucial function within the blockchain, or the decentralized ledger technology that underpins most cryptocurrencies, by solving complex problems to validate transactions on the network, In exchange for this function, which powers miners are rewarded with bitcoins.

    However, because bitcoin’s protocol operates on a proof-of-work basis—meaning it requires an expenditure of computing power—both the power and difficulty of problems increase as miners approach the maximum number of bitcoin’s meant to exist at 21 million. Currently, there are about 16.9 million bitcoins in existence.

    The mainstream attention around bitcoin as it hit a peak level at $20,000 last December has led to an outcropping of digital miners and mining operations.

    So, where is the cheapest place to mine bitcoin?

    According to research conducted by Elite Fixtures, the cost of mining a bitcoin varies significantly around the world, from as little as $531 to a stunning $26,170.
    more at link: https://www.marketwatch.com/story/he...try-2018-03-06

  17. #74
    What the report (see table above) found is that the U.S. ranks 41st among countries, with an average costs for mining bitcoin of $4,758 a bitcoin, close to other popular mining destinations Russia at $4,675 and the aforementioned Iceland at $4,746. That means that investors would be able to make a profit with bitcoin’s current value at $8,567.86, according to Kraken exchange prices.

  18. #75
    I would speculate that people that got into BTC in the beginning when it was worthless are not as concerned as people that got into it at 20k.
    New comers that do due diligence would probably be concerned with volatility.
    Look what happens to a tangible company that is in a field or industry that has lost favor. Take SWN for example. They are a huge gas exploration company that is still making close to $1 per share profit and because of ??? the stock can be had for $3.20. I would venture to say that purchasing SWN would be less speculative an investment today than BTC.

  19. #76
    Quote Originally Posted by Schifference View Post
    What the report (see table above) found is that the U.S. ranks 41st among countries, with an average costs for mining bitcoin of $4,758 a bitcoin, close to other popular mining destinations Russia at $4,675 and the aforementioned Iceland at $4,746. That means that investors would be able to make a profit with bitcoin’s current value at $8,567.86, according to Kraken exchange prices.
    Bitcoin is currently below $4,000.

    Miners may continue to mine during price declines hoping it goes back up again (assuming they can absorb the losses). They may need the cash flow if they borrowed money to purchase their equipment or facilities. But some will start shutting down or at least reducing operations. https://www.coindesk.com/layoffs-und...tmain-confirms


    Donald Trump: 'What you're seeing and what you're reading is not what's happening'

    "Truth isn't truth"- Rudy Giuliani

    "China has total respect for Donald Trump and for Donald Trump's very, very large brain," - Donald Trump.

    "Yeah, I have to say these guys(trolls) are pretty sharp. Sort of good to get a challenge and sharpen your thoughts." NorthCarolinaLiberty

    I am Zippy and I approve of this post. But you don't have to.

  20. #77
    Quote Originally Posted by Zippyjuan View Post
    Bitcoin is currently below $4,000.
    lol

    I recall the same conversation 3 orders of magnitude ago on freenode


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