Bitcoin
- Thread starter Ron Resnick
- Start date
Institutional power can drive prices very effectively... Anyone with very large bags can sway it.
Not if they aren't holding it.
I think what's relevant is how much Bitcoin is available to exchanges.
The 27% drop was arguably caused by https://www.f2pool.com/, a large mining company, dumping huge amounts to the exchanges.
Don't forget much is held in cold wallets, either lost or simply held off exchange.
Bitcoin's market cap is £660 billion. Elon's $1.5 billion is unable to affect the price much in itself. But the NEWS of it probably is, as it is worldwide news.
It's tempting to get carried away with what's happening in America but TBH it is a worldwide phenomenon, though I am not saying the US ins't a significant player.
One for the resident crypto aficionados / investment professionals / ZH groupies. A modern variation of pin the tail on the donkey - where is this stock heading?
Lets see what the real safe haven is gonna be in the end , gold or bitcoin .
And with the 10 year yield rising as it does ....
2021 could finally be the year this financial house of cards collapses and the fed loses more or less control of the interest rate.
I bet on gold / silver
,I bought some more miners today .
Lets see what happens .
Gold has history on its side .
Although i like the blockchain concept, i understood it requires enourmous amounts of energy to keep it working , so not a green currency
And with the 10 year yield rising as it does ....
2021 could finally be the year this financial house of cards collapses and the fed loses more or less control of the interest rate.
I bet on gold / silver
,I bought some more miners today .
Lets see what happens .
Gold has history on its side .
Although i like the blockchain concept, i understood it requires enourmous amounts of energy to keep it working , so not a green currency
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Agreed, btc is an environmental disaster that now uses more energy than many small countries and it's going up quickly. It's not sustainable and is a massive human folly imo.
The 1st 3 links from a google search: "bitcoin electricity useage"
Bitcoin consumes 'more electricity than Argentina'
The rising value of Bitcoin leads to ever-higher energy consumption, researchers say.
www.bbc.com
Bitcoin Energy Consumption Index - Digiconomist
The Bitcoin Energy Consumption Index provides the latest estimate of the total energy consumption of the Bitcoin network.
digiconomist.net
Bitcoin's wild ride renews worries about its massive carbon footprint
Bitcoin has a carbon footprint comparable to that of New Zealand, producing 36.95 megatons of CO2 annually, according to Digiconomist.
Further, the "mining" equipment used is top end computer graphics hardware that also takes massive amounts of resources to manufacture, and is only good enough to profitably mine BTC for under a year, because requirements to mine go up over time, thus electricity and hardware consumption is excessive.
Because of the massive energy requirements BTC is mined mostly in places with cheap or subsidized energy, and it can prevent poor countries citizens from having electricity because it's all used up and paid for by BTC mining.
In a previous post I posted examples of illegal activities BTC is often used for, but that was deemed political and removed. However, if you're interested you can reseacrch this aspect of BTC yourself.
Personally, I think BTC is ethically questionable and shouldn't exist. There are other more efficient options. Making money by doing good and providing value to society is one of my basic beliefs on how the world should work, and that corruption is the source of most of the world's problems.
BTW, if this is political, then so is BTC and this thread needs to be removed...
Well, we could talk about alternatives to Bitcoin's model for representing value? People say it has no value, but the resources put into it, including time, are where a lot of value is derived because it adds to the security.
Some think proof of stake is the way to go. Any which way the fact that it is deflationary makes it attractive compared to our shitty fiats.
Bitcoin for illegal activity now is like asking to be caught since it's so trackable.
Some think proof of stake is the way to go. Any which way the fact that it is deflationary makes it attractive compared to our shitty fiats.
Bitcoin for illegal activity now is like asking to be caught since it's so trackable.
Privacy coins are for illegal activity but having said that any Bitcoin bought off exchange should be fine, too. Most of that was bought in the early days and much of it is lost. As long as the Blockchain addresses don't map to someone real it's safe.
Now to register on reputable exchanges need a LOT of ID proof.
I suspect privacy coins may be banned. Hold on, though. It's a great way to bribe political figures so maybe not, LOL.
Now to register on reputable exchanges need a LOT of ID proof.
I suspect privacy coins may be banned. Hold on, though. It's a great way to bribe political figures so maybe not, LOL.
I think were gonna get a interesting year in the markets .
The year in which MMT will run aground
Modern Monetary Theory
.
We ll see how the digital currencys will adapt
The year in which MMT will run aground
Modern Monetary Theory
.We ll see how the digital currencys will adapt
If we would all throw our stereo sets in a dumpster, the environment would benefit greatly ;-)Agreed, btc is an environmental disaster that now uses more energy than many small countries and it's going up quickly. It's not sustainable and is a massive human folly imo.
The 1st 3 links from a google search: "bitcoin electricity useage"
Bitcoin consumes 'more electricity than Argentina'
The rising value of Bitcoin leads to ever-higher energy consumption, researchers say.
Bitcoin Energy Consumption Index - Digiconomist
The Bitcoin Energy Consumption Index provides the latest estimate of the total energy consumption of the Bitcoin network.
Bitcoin's wild ride renews worries about its massive carbon footprint
Bitcoin has a carbon footprint comparable to that of New Zealand, producing 36.95 megatons of CO2 annually, according to Digiconomist.www.cnbc.com
Further, the "mining" equipment used is top end computer graphics hardware that also takes massive amounts of resources to manufacture, and is only good enough to profitably mine BTC for under a year, because requirements to mine go up over time, thus electricity and hardware consumption is excessive.
Because of the massive energy requirements BTC is mined mostly in places with cheap or subsidized energy, and it can prevent poor countries citizens from having electricity because it's all used up and paid for by BTC mining.
In a previous post I posted examples of illegal activities BTC is often used for, but that was deemed political and removed. However, if you're interested you can reseacrch this aspect of BTC yourself.
Personally, I think BTC is ethically questionable and shouldn't exist. There are other more efficient options. Making money by doing good and providing value to society is one of my basic beliefs on how the world should work, and that corruption is the source of most of the world's problems.
BTW, if this is political, then so is BTC and this thread needs to be removed...
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It has to be a team effort
Good thinking! Get all your friends together and put your components and speakers on a pallet and ship it to me freight. Might as well send me your cars too...
I know you mean well! But all this shipping etc. is really bad for the environment as well . Maybe it is better if you start, to show others (please post pics). I mean you started airing your concerns about the environment, not IGood thinking! Get all your friends together and put your components and speakers on a pallet and ship it to me freight. Might as well send me your cars too...
. And since I am not a bad guy, you have my permission to buy 1 Bitcoin to compensate for your loss.
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I know you mean well! But all this shipping etc. is really bad for the environment as well . Maybe it is better if you start, to show others (please post pics). I mean you started airing your concerns about the environment, not I
A bitcoin, awesome!
However, I can't listen to it. I can't eat it. I can't even wipe my a$$ with it! It has absolutely no value whatsoever, does nothing but use up massive amounts of energy and use up massive amounts of computer gear, making the world a worse place for everyone in it.
The things people decide have value to them are often quite strange, and at odds with their own happiness and well-being.
Well, let’s end this by giving people their freedom. One gets a kick of collecting money (and buying bitcoins). The other by escaping the world through music. As Man, we do way more terrible thing to the planet than the Bitcoin digger. None of us is innocent. Not one of us on WBF is a saint thinking only of others. But listening to music is a reasonably innocent way of spending our time on this mortal coil. Damn, it must be Sunday today
. This ends today’s lecture. Take care, Dave.
Well, let’s end this by giving people their freedom. One gets a kick of collecting money (and buying bitcoins). The other by escaping the world through music. As Man, we do way more terrible thing to the planet than the Bitcoin digger. None of us is innocent. Not one of us on WBF is a saint thinking only of others. But listening to music is a reasonably innocent way of spending our time on this mortal coil. Damn, it must be Sunday today
Have a great Sunday you filthy animals!
With the bondyields rising as they do, i think were 3-6 months away from the fed starting yieldcurve control.
Then it ll be soon obvious whats gonna be an inflation hedge and what not.
Then it ll be soon obvious whats gonna be an inflation hedge and what not.
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