Bitcoin price suddenly surges to 3-year high

[kapone32]

in a regular economy the concept of something that gives you free money would be popular. In a contracted economy where Governments are responsible for the welfare of the people and don't have the money or will to help. Crypto mining becomes it's own industry with every facet of society getting involved. Taking emotion out of the equation there is no sane reason not to do it given certain criteria.

1. If you work from home and have a Gaming PC it would be a sin to not mine while you are working.
2. The price is 44,000+ Euros. If it goes up while you are mining your wallet will increase,
3. The price is 44,000- Euros. If the price goes down your mining balance increases as you get more bits mined per second.
4. You don't have to spend uber amounts of money (GPUs are hard to find but you can get them without a bot near MSRP).
5. There are more than just computers mining but investment houses and corporations are actively trading in the space.
6. Nice Hash is literally 3 or 4 mouse clicks and your all setup.
7. The exchange is in different denominations so while the Euro is strong make your wallet Euros, While the US is strong do that. If you follow money markets you could make a higher profit by changing this periodically (If you know what you are doing).
8. When I started looking at it it was $30,000 Euros (That was a week ago)
9. They talk about this everyday on CNBC and BNN.
10. It is inexorably driving the GPU market bananas but that means that plenty of us have made money selling old cards for the same or more than we paid for them.

** If you live in Canada you can get a TFSA that you put in a little now and one of those BITCOIN funds mushrooms (smile all the way as your interest would be completely tax free.)

I would not be at all surprised if by the end of 2021 we are over $100,000 per coin.

If you bought $1000 of AMD stock in 2016 and it increased by 900% in value per share. How much money would you have today. If you lived

 

[ZenZimZaliben]

There are 2 rules of BTC.

1.) HODL!!!
2.) Buy The Dip!

 

[trog100]

Less government/politics talk please and more Bitcoin...

And back we go I've been seeing the rises and falls for the last few days, its unreal! Profit from the Eth mining will have dropped a little but its still worth doing/going if your into it...

for reasons unknown to me my nicehash payout has gone up by about 100% over the last hour or so.. it got as high as 75 dollars per day.. its currently around 60 dollars per day..

it was between 35 and 40 dollars per day.. i am guessing the nice hash conversion process cant handle big rapid changes..

trog

 

[Space Lynx]

forget who it was I was talking with on here a couple days ago, about the problem with Bitcoin when mining stops.

well, Bitcoin Cash seemed to solve that problem while still remaining everything else about Bitcoin, so what is the main thing holding Bitcoin Cash back? just a bad reputation? it seems like it could be the next big thing, its literally Bitcoin but with the problems like high fees, fixed.

 

[ZenZimZaliben]

I think LTC is a better ALT than BCH.

 

[phill]

for reasons unknown to me my nicehash payout has gone up by about 100% over the last hour or so.. it got as high as 75 dollars per day.. its currently around 60 dollars per day..

it was between 35 and 40 dollars per day.. i am guessing the nice hash conversion process cant handle big rapid changes..

trog

I keep a tab open for the dips and rises just to see what sort of state it has on the profitablity, since we are largely keeping to the same power usage and hashrate and the difference today has been mental. I've seen it nearly hit 600% profit at the lowest and about 10 minutes ago, it's hit over 950%. It's very strange....

I'm guessing the Nicehash will update accordingly but it's always great seeing such high numbers lol

 

[trog100]

this crypto price crash is entirely artificial.. f2pool and a bunch of whales arrange a large sell off to drive the price down.. when it bottoms they will all rush back in and scoop up the lower priced winnings..

long term the only way is up and these f-ckers know it.. those in the know will treat it as buying opportunity..

trog

 

[Space Lynx]

this crypto price crash is entirely artificial.. f2pool and a bunch of whales arrange a large sell off to drive the price down.. when it bottoms they will all rush back in and scoop up the lower priced winnings..

long term the only way is up and these f-ckers know it.. those in the know will treat it as buying opportunity..

trog

this is exactly why regulations exist in the stock markets of the world. and is also exactly why yellen and IMF and others are going to tax the living crap out of all exchanges, banks, and businesses that allow cryptocurrency. it will just take time, government is slow but it will happen.

 

[Vya Domus]

There are 2 rules of BTC.

1.) HODL!!!
2.) Buy The Dip!

3). Lose almost all of your money when it finally collapses beyond recovery.

That day will come, it's unnatural and unsustainable for an asset to have fast unlimited growth. There is only so much money out there in the world that can be poured into it, it has to taper out eventually, a permanent crash is inevitable. You can definitely make money from bitcoin but you have to cash out your profits frequently to be safe.

 

[ZenZimZaliben]

3). Lose almost all of your money when it finally collapses beyond recovery.

That day will come, it's unnatural and unsustainable for an asset to have fast unlimited growth. There is only so much money out there in the world that can be poured into it, it has to taper out eventually, a permanent crash is inevitable. You can definitely make money from bitcoin but you have to cash out your profits frequently to be safe.

We've been here before and we will be here again. Buy the dip, don't listen to all the salt. And let's say they do "Tax the crap" out of transactions or whatever with the devaluation of the dollar on the global market and global hyper-inflation means crypto and hard commodities (gold, silver...) will only continue to strengthen. So it's better to have more money/wealth in any other form then sitting in a bank or in paper currency. Even if they do tax the crap out of it a gain is still a gain.

It won't taper out, what you describe is called stabalization. Eventually the frequency of swings will diminish and it will start looking like Tether. What that price point will once stablized I have no idea, but it certainly won't be zero. There is simply just to much money behind it now.

 

[trog100]

3). Lose almost all of your money when it finally collapses beyond recovery.

That day will come, it's unnatural and unsustainable for an asset to have fast unlimited growth. There is only so much money out there in the world that can be poured into it, it has to taper out eventually, a permanent crash is inevitable. You can definitely make money from bitcoin but you have to cash out your profits frequently to be safe.

just make sure you dont cash out and hold the US dollar or any other fiat currency.. buy ( and hold ) real stuff that is of real value..

trog

 

[Colddecked]

There are 2 rules of BTC.

1.) HODL!!!
2.) Buy The Dip!

2) Sell the peak, then buy the dip.

Been here before, I shouldve seen this coming a mile away...

 

[Vya Domus]

We've been here before and we will be here again. Buy the dip, don't listen to all the salt.

No salt, just rational thought.

Everyone will be happy making profit, until they wont.

 

[ZenZimZaliben]

just make sure you dont cash out and hold the US dollar or any other fiat currency.. buy ( and hold ) real stuff that is of real value..

trog

Agree 100%! The currencies around the world are getting weaker every day. The debt ceiling is going up, up ,up and away. Pretty soon all that money you saved in your bank account will buy you a nice loaf of bread. Buy crypto or hard commodities that go up when inflation goes up.

 

[Vya Domus]

Currencies are getting weaker because of inflation and whatnot but they rarely, if ever, go down by 10% in 24H or worse. Or go up 10% for that matter.

 

[mouacyk]

Currencies are getting weaker because of inflation and whatnot but they rarely, if ever, go down by 10% in 24H or worse. Or go up 10% for that matter.

If fiat currencies don't inflate during a pandemic, a lot more people are going to suffer. Inflation is likely happening globally right now, more so in harder-hit countries. Once the fog clears, it will be interesting to see how things settle.

 

[kapone32]

If fiat currencies don't inflate during a pandemic, a lot more people are going to suffer. Inflation is likely happening globally right now, more so in harder-hit countries. Once the fog clears, it will be interesting to see how things settle.

Also sad in a lot of ways.

 

[ZenZimZaliben]

Currencies are getting weaker because of inflation and whatnot but they rarely, if ever, go down by 10% in 24H or worse. Or go up 10% for that matter.

Yeah they do. Just as 1 example compare the USD to CAD in the last year. $1.44 to $1.25 that is more than 10%...13.2%. AND if the USD wasn't also weakening it would be even worse because Canada has also been spending a butt-load of money and printing just like the US. It's a global dilution of fiat currency.

 

[Vya Domus]

Yeah they do. Just as 1 example compare the USD to CAD in the last year. $1.44 to $1.25 that is more than 10%...13.2%. AND if the USD wasn't also weakening it would be even worse because Canada has also been spending a butt-load of money and printing just like the US. It's a global dilution of fiat currency.

Maybe you didn't read what I said carefully enough, I am talking within 24H not within a year. Big difference.

Look, bitcoin is good if you just want to try and make some profit from it, that's all this is about anyway despite what everyone claims. But as an actual alternative to fiat it's a joke, it's a nightmare to try and fund some big project for example using crypto. Even if it's value is projected to go up year-to-year the fact that you can't count on it to not drop by 20% any day in between makes it unusable in practice.

 

[trog100]

modern monetary theory says if you want some more just print it.. money machines go brrr brrr brrr.. inflation kicks in followed by a crack up boom and then hyper inflation as people rush to buy stuff while they still can..

trog

 

[Vya Domus]

And the GPUs and ASICs out there don't go "brrrrr" as well to mine away the coins ? Or does that not count ?

 

[kapone32]

And the GPUs and ASICs out there don't go "brrrrr" as well to mine away the coins ? Or does that not count ?

As long as mining provides more profit than the cost of electricity it is academic (Once started).

 

[trog100]

And the GPUs and ASICs out there don't go "brrrrr" as well to mine away the coins ? Or does that not count ?

they do but as yet bitcoin is not the worlds reserve currencies the dollar is..

i admit to being in crypto just for the money and maybe cos its interesting.. but i am also interested in what is happening to the dollar.. its currently in its death throws..

i have never really defended crypto i just say in dollar term it has to keep going up.. which is just another way of saying the dollar has to keep going down..

trog

ps.. at first printing more money is the easy answer.. no government can resist it.. once started it not easy to stop in fact its probably impossible.. he he

 

[xkm1948]

they do but as yet bitcoin is not the worlds reserve currencies the dollar is..

i admit to being in crypto just for the money and maybe cos it interesting.. but i am also interested in what is happening to the dollar.. its currently in its death throws..

i have never really defended crypto i just say in dollar term it has to keep going up.. which is just another way of saying the dollar has to keep going down..

trog

How much did you buy for this round of dipping?

 

[ZenZimZaliben]

Maybe you didn't read what I said carefully enough, I am talking within 24H not within a year. Big difference.

Look, bitcoin is good if you just want to try and make some profit from it, that's all this is about anyway despite what everyone claims. But as an actual alternative to fiat it's a joke, it's a nightmare to try and fund some big project for example using crypto. Even if it's value is projected to go up year-to-year the fact that you can't count on it to not drop by 20% any day in between makes it unusable in practice.

You're right I missed the 24H point but I will say if there was a chart available I would bet when the USD started in 1792 it swung pretty crazily on the daily. Give crypto another 200 years and I bet it's stable. LOL. Funny, but my point is Fiat has been around for 100's of years so yeah it's pretty stable and rightly so. But crypto when compared to fiat (head-to-head) is in it's infancy. Infants can be all smiles on second and then bamm crying and throwing a fit. Just wait until crypto grows up!