The State of Cryptocurrency

[Space Lynx]

just a tad under $13500 now and still seemingly going up vertically..

its gone up well over 2000 dollars in the last 24 hours.. it does make you wonder just what is driving it and how far its gonna go.. he he

trog

it sure isn't the common man buying and selling that much coin. its the big players at this point, all trying to circle jerk eachother into richness. the problem is, who pulls out first? game of chicken. unless they are conspiring together to raise the price, which is also possible, since their are no regulations preventing that, like their are on the stock markets.

 

[Good3alz]

I'm not convinced there will be another "big pump." Too many investors got burned which should make it clear that crypto is a poor investment. I think once the investors finish selling off, it'll go back to like it was in 2016 where only miners are involved based on electrical cost.

How much does it actually cost to make 1 BT Coin. (IF you already have the equipment).. so just electricity cost.
Factor in a cost of 'burn' on your already owned equipment...
Not, "It cost $25k, because that is what I put into my system and a months work of electricity bill."

I know nothing about it.

What is a BTC? How is it made.. all of a sudden, your pc and cards run for months until you find an anomaly in space? Does someone go into there office one day, hits a button to release a BTC for anyone to find floating out in cyberspace?

Do you get 1 for every 20,000 hrs of run on your system?

I'm trying to figure out how a market can be created by something I don't see real.

 

[moproblems99]

aye Bitcoin is the future I have no doubts now

Bitcoin is as much the future as Micky Mouse is president.

 

[Space Lynx]

Bitcoin is as much the future as Micky Mouse is president.

as far as gold goes i mean, lot of companies embracing it now, from AT&T to Newegg, etc etc lot of mom and pop shops accept it like HID Evolution, etc.

 

[Metroid]

Friday 28 June will be another bull movement success. 15k is the target.

 

[Space Lynx]

Friday 28 June will be another bull movement success. 15k is the target.

yawnfest 2019. since Democrats need more things to tax for all these social things they want to do, I hope crypto is next, 20% tax on it for accelerating the destruction of the environment. Bernie will make it happen.

 

[Outback Bronze]

accelerating the destruction of the environment.

Um.. https://www.ccn.com/bitcoin-shockingly-renewable-energy/

And.. http://climatestate.com/2018/01/15/energy-consumption-bitcoin-vs-banking-system/

 

[R-T-B]

How much does it actually cost to make 1 BT Coin. (IF you already have the equipment).. so just electricity cost.
Factor in a cost of 'burn' on your already owned equipment...
Not, "It cost $25k, because that is what I put into my system and a months work of electricity bill."

I know nothing about it.

What is a BTC? How is it made.. all of a sudden, your pc and cards run for months until you find an anomaly in space? Does someone go into there office one day, hits a button to release a BTC for anyone to find floating out in cyberspace?

Do you get 1 for every 20,000 hrs of run on your system?

I'm trying to figure out how a market can be created by something I don't see real.

Going to be a long read for you, but I'd start looking up cryptocurrencies on wikipedia, starting with bitcoin. Keep in mind understanding may very well not be worth your time. They are very complex to understand but very real (in the sense people will pay for them) all the same.

 

[Metroid]

yawnfest 2019. since Democrats need more things to tax for all these social things they want to do, I hope crypto is next, 20% tax on it for accelerating the destruction of the environment. Bernie will make it happen.

If there somebody that could destroy crypto those people are the communists, bernie is a born communist, communist countries as we know use cryptosystems for their own benefit as long as the US in on top, as soon as the US is out of picture, next day cryptocoins are dead hehe and so billions of people. "All for state power and nothing for the people" <-- this is their unofficial tag line.

Bernie is the greatest reflection of "everything is perfect with socialism" until is implemented, after implemented then is the worse thing ever, so socialism is only good in theory.

 

[Outback Bronze]

my point

Yeah, your point is a bit random over what I was trying to stipulate.

it will increase exponentially as time goes on

Renewable energy will, yes..

 

[Metroid]

I bet you have no anxiety or stress in the UK about getting sick though? You might not like your universal health coverage in the UK, but you don't realize the sub-conscious effect it has on you, the stress of my medical bills caused me more medical issues due to the severity of my situation a few years ago.

https://www.cbsnews.com/news/bitcoin-mining-energy-consumption/ Bitcoin consumes more electricity than 159 countries, probably way more than that now. Also, Medicaid and Medicare and the VA are socialist programs... Bernie isn't saying anything new, just saying squash it all and create one, because quite frankly we shouldn't have to pay $20 for a single aspirin pill when we go to the emergency room, it's nonsense and the private insurers are scamming people, there is no question about it.

Here is th uk, the socialism has been implemented long time ago, I wish people could have fair medical bills in the event they would have to pay for private care, so they would treat them better, here they think because is free they only save who they want to save and who they dont want they leave it to die. There are so many cases here, too many, people with some problems are not helped at all by the nhs, the nhs let these people to die. This is socialism, if these people were to pay they would live longer and perhaps illness free. Funny thing and pay attention to this, because the nhs is free, there are private care within nhs and because of that monopoly, who have the money and want something else the nhs also provides but this is the important thing, only people with lots of money are able to pay this because there is no competition. If there is no competition then common people cant pay, so nhs dont help the needed and the needed cant pay for medical care because of the monopoly in the private care. If this was 100% private, competition would dictate the price and that is a good thing.

Bernie will send the US to the dark ages, aka soviet state. The UK is only waiting the soviets to get here to make their stay forever hehe

 

[Deleted member 158293]

Finally a pullback, that was a long time coming...

 

[Metroid]

Finally a pullback, that was a long time coming...

This a great opportunity to buy, these pullbacks is the golden opportunity. 20k is within few weeks to months and it will come. BTC halving is in May next year.

 

[trog100]

this guy was right about the 13.4 peak.. or it seems he was..

trog

 

[Deleted member 158293]

I would tend to agree with the big incoming correction, but this being bitcoin, there is no precedence or artificially imposed limits.

This a great opportunity to buy, these pullbacks is the golden opportunity. 20k is within few weeks to months and it will come. BTC halving is in May next year.

Market went irrational FOMO short term, happens often enough and wouldn't touch it. Medium term, don't disagree.

 

[trog100]

my prediction.. bitcoin will go sideways for a bit at 11.5 k and then it will take off again.. i dont see it going down to 7 or 8k before it takes off again..

its fun watching and guessing.. he he

trog

 

[Metroid]

if you are lucky to find the top at the moment and exchange for usdt then wait few hours waiting for the pullback then you can rebuy and wait for the next rise and repeat, bullmarket is hard to find when is going to pullback, there are still people waiting bitcoin to return at 4k,5k,6k,7k,8k because they sold and never rebought. They gambled and lost I guess.

 

[trog100]

i dont trade in the stuff i just ignored all the advice to sell and hodled a bit from last time around..

most of what i have is in altcoins so they are the ones i need to go up.. eth litecoin cardano and i would love to see neo go back up to where it was.. he he..

i still wont sell i will simply hodle for ever..

trog

 

[R-T-B]

If there somebody that could destroy crypto those people are the communists, bernie is a born communist, communist countries as we know use cryptosystems for their own benefit as long as the US in on top, as soon as the US is out of picture, next day cryptocoins are dead hehe and so billions of people. "All for state power and nothing for the people" <-- this is their unofficial tag line.

Bernie is the greatest reflection of "everything is perfect with socialism" until is implemented, after implemented then is the worse thing ever, so socialism is only good in theory.

Not really the thread for that topic.

 

[moproblems99]

Bitcoin is under 11k at the moment, that correction boi! haha that is a problem when it's only a few major players involved. your common man will not want to buy a partial bitcoin, and 10k is out of reach, so that is a huge market lost and one of Bitcoins biggest marketing problems. If someone could convince the masses that owning a partial coin is awesome more might do it, it is a hard sell though, for some reason the human brain likes simple numbers, the masses anyway. So for the foreseeable future Bitcoin is limited to a few niche people like those on this forum or big players, and a few randoms scattered, and desperate people in failed states. I think I will pass. Hopefully the slide doesn't keep happening though, I would like to see it 100k per coin, if nothing else, just to shake the world economy up a bit, much like a monopoly in business, government monopolies need to be put in check on never ending printing. My father last night was saying we need to go to war with Iran, I said Dad you haven't even paid the 6 trillion dollars for the other wars yet, where y'all gettin this money from. No worries just keep raising that debt ceiling and printing money lol It's going to be political suicide to propose a tax to pay the debt off, so no one will ever do that, Republicans generated more money in this economy, but they are also spending more and not cutting much back, so debt issue still not fixed, lol Fiat is going to crash and burn within 20 years if we keep spending the way we do. Maybe Trog is right to hodl long term. Nation states may be a thing of the past within our lifetime if a universal currency ANON ever takes off, not Bitcoin, but it is the foundation.

So is it still the future? I'm confused.

 

[Deleted member 158293]

1 billion dollar transaction moved in 1 bitcoin transaction in block 584,785

There are now many, many 500million+ transactions, but 1 billion dollars is still a bit more on the rare side... probably will start to become more & more common like 100 million transactions were back a few years...

 

[Space Lynx]

1 billion dollar transaction moved in 1 bitcoin transaction in block 584,785

There are now many, many 500million+ transactions, but 1 billion dollars is still a bit more on the rare side... probably will start to become more & more common like 100 million transactions were back a few years...

it's too late for me to get in on the game, it's a rich boys paradise now. good luck

 

[Vayra86]

as far as gold goes i mean, lot of companies embracing it now, from AT&T to Newegg, etc etc lot of mom and pop shops accept it like HID Evolution, etc.

Yeah, and now look into the actual numbers. They just gamble a bit with maybe 1-2% of their total revenue. Irrelevant. And they also get new customers with it - those who have BTC. A nice cheap way for them to get some coins, no?

my prediction.. bitcoin will go sideways for a bit at 11.5 k and then it will take off again.. i dont see it going down to 7 or 8k before it takes off again..

its fun watching and guessing.. he he

trog

I'm actually a bit invested in this now too. The GF deemed it necessary to buy a tiny share. For giggles. Who knows, maybe next year its off to the Bahamas..

 

[ZenZimZaliben]

it's too late for me to get in on the game, it's a rich boys paradise now. good luck

It isn't to late. Not like you have to buy a whole coin.

 

[Space Lynx]

It isn't to late. Not like you have to buy a whole coin.

I'll pass. I barely have enough savings to survive as it is. Can't risk any loss, like vast majority of people in this world.