I wasn't making an arguement for retaining price. It was for security.
Cryptos actually recover after they take a hit.
Cryptos actually recover after they take a hit.
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Bitcoin
- Thread starter Ron Resnick
- Start date
• https://www.thestar.com/business/we...er-large-bitcoin-exchange-draws-warnings.html
"The company lost 1,500 bitcoin, worth around $400,000, to a hacker in 2015. But the most damaging incident happened in August 2016 when a thief got almost 120,000 bitcoin, worth around $75 million at the time.
The company spread out the losses to all customers — even those who were not holding bitcoin at the time of the hacking — by forcing customers to take a 36-per-cent haircut or loss on any money at the exchange.
On Tuesday, Tether announced that an “external attacker” had taken $30 million worth of Tether from the company’s online wallets. The company said it was working to recover the coins."
Exactly Bob, the weak points have been the online custodians. The blockchains themselves have never been touched.
We live in different times; investments, the news, the sensitivities, the revelations, the electric cars, the warming, the wider spread between the rich and the poor, the awareness, the scandals, the hackers, the gratuitous decadence, the lost of morals and values, the Black Friday sales.
Bitcoin is big, real big since it started, it has no limits, only the height of the sky above.
I missed Saturday night live.
Bitcoin is big, real big since it started, it has no limits, only the height of the sky above.
I missed Saturday night live.
Bitcoin is not sustainable imo, and is already an environmental disaster. Hacking issues are also a problem. Good for short-term investment (if you can stomach supporting something like this) but it's going to crash.
https://digiconomist.net/bitcoin-energy-consumption
https://blockgeeks.com/bitcoins-energy-consumption/
This is ridiculous!
EDIT: As of July 7th the energy required for a single bitcoin transaction is 163 kWh, or using over 12,500 typical LED lights for 1 hour.
https://www.digitaltrends.com/computing/bitcoin-ethereum-mining-use-significant-electrical-power/
https://digiconomist.net/bitcoin-energy-consumption
https://blockgeeks.com/bitcoins-energy-consumption/
This is ridiculous!
EDIT: As of July 7th the energy required for a single bitcoin transaction is 163 kWh, or using over 12,500 typical LED lights for 1 hour.
https://www.digitaltrends.com/computing/bitcoin-ethereum-mining-use-significant-electrical-power/
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Another record high, like every single day:
• http://fortune.com/2017/11/26/bitcoin-breaks-9000-in-another-all-time-high/
A theory, farfetched?
• https://www.cryptocoinsnews.com/elon-musk-create-bitcoin-former-spacex-employee-thinks/
• http://fortune.com/2017/11/26/bitcoin-breaks-9000-in-another-all-time-high/
A theory, farfetched?
• https://www.cryptocoinsnews.com/elon-musk-create-bitcoin-former-spacex-employee-thinks/
There's a lot of FUD war with cryptos.
Simple point to be made, you can't just do one transaction. Any transaction goes into the blockchain, and to seal the block the miners works to solve the sha256/sha256 algorithm. That work is what uses energy, and it is sealing every single transaction that happened. That can be a great many transactions. To simply add a transaction to the blockchain it uses about the same amount of power as logging into gmail.
Will it evolve to use less energy? That could very well be. I hope so, but comparing it to Visa is pointless, because Visa and Bitcoin share nothing. Bitcoin is a store of value, not a new currency for quick use. If you want quickuse, use Litecoin. I think overall they are great incentives to look towards more sustainable energy.
They have recovered in the past. That does not mean they will recover from a decline in the future.
I think bitcoin might hit $10,000 tomorrow morning, if not the next day after?
• http://www.businessinsider.com/bitcoin-price-soars-above-9000-to-new-record-high-2017-11
There is no stopping it.
If each of all the WBF members would have invested say $1,000 in bitcoin (less than one) @ the beginning of Ron's thread, they would have all a dollar sign smile right now. :b ...Definitely.
Or to go just slightly few weeks before, say end of April 2017 ...
On April 30, the currency was valued at $1,348.65.
And say you would have invested $10,000 instead of just $1,000, on April 30, 2017 @ the quoted price above. In almost seven months that $10,000 would have rose to $70,000 (or roughly 700%). Not too shabby.
This is only for the pleasure; I am not recommending anything, you do your research, ask advice from the force be with you, and you make your own decision.
___
Just for fun:
• https://www.cnbc.com/2017/02/23/inv...-1980s-would-have-made-you-a-millionaire.html
So, having started with only $3,000, you would have accumulated a grand total of $1,485,853.
• http://www.businessinsider.com/bitcoin-price-soars-above-9000-to-new-record-high-2017-11
There is no stopping it.
If each of all the WBF members would have invested say $1,000 in bitcoin (less than one) @ the beginning of Ron's thread, they would have all a dollar sign smile right now. :b ...Definitely.
Or to go just slightly few weeks before, say end of April 2017 ...
On April 30, the currency was valued at $1,348.65.
And say you would have invested $10,000 instead of just $1,000, on April 30, 2017 @ the quoted price above. In almost seven months that $10,000 would have rose to $70,000 (or roughly 700%). Not too shabby.
This is only for the pleasure; I am not recommending anything, you do your research, ask advice from the force be with you, and you make your own decision.
___
Just for fun:
• https://www.cnbc.com/2017/02/23/inv...-1980s-would-have-made-you-a-millionaire.html
So, having started with only $3,000, you would have accumulated a grand total of $1,485,853.
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• $9,700 > https://www.cryptocoinsnews.com/9771-bitcoin-price-continues-to-surge-to-new-all-time-highs/
• Next > https://www.coindesk.com/10000-and-beyond-bitcoin-price-eyes-new-record-highs/
The frenzy is Atomic; @ this paste bitcoin is going to hit $20,000 before the year is over?
• https://www.bloomberg.com/news/arti...nts-proliferate-as-bitcoin-flirts-with-10-000
• Next > https://www.coindesk.com/10000-and-beyond-bitcoin-price-eyes-new-record-highs/
The frenzy is Atomic; @ this paste bitcoin is going to hit $20,000 before the year is over?
• https://www.bloomberg.com/news/arti...nts-proliferate-as-bitcoin-flirts-with-10-000
"Bitcoin’s march toward respectability faces another hurdle as hedge-fund platforms reject the overtures of firms trading cryptocurrencies.
Brooklands Fund Management, Mirabella Advisers and Privium Fund Management — which provide back-office functions and regulatory help for investment firms — all say they’ve had discussions with Bitcoin funds in recent months. So far, they’ve turned down requests to take them on as clients, citing a lack of understanding about the value store and concerns over whether it’s a legitimate asset or a bubble waiting to burst.
It’s the latest blow for a digital currency that’s struggling to break into the financial mainstream. While investors have embraced Bitcoin, sending it soaring toward $10,000 (U.S.), some big firms have been resistant, with JPMorgan Chase & Co. boss Jamie Dimon famously calling its devotees “stupid.”
? https://www.thestar.com/business/te...spite-hedge-fund-firms-warning-its-a-fad.html
Brooklands Fund Management, Mirabella Advisers and Privium Fund Management — which provide back-office functions and regulatory help for investment firms — all say they’ve had discussions with Bitcoin funds in recent months. So far, they’ve turned down requests to take them on as clients, citing a lack of understanding about the value store and concerns over whether it’s a legitimate asset or a bubble waiting to burst.
It’s the latest blow for a digital currency that’s struggling to break into the financial mainstream. While investors have embraced Bitcoin, sending it soaring toward $10,000 (U.S.), some big firms have been resistant, with JPMorgan Chase & Co. boss Jamie Dimon famously calling its devotees “stupid.”
? https://www.thestar.com/business/te...spite-hedge-fund-firms-warning-its-a-fad.html
Here it is: Bitcoin Price Hits Historic $10,000; Crypto Arrives in the Mainstream
? https://www.cryptocoinsnews.com/as-bitcoin-hits-10000-its-clear-that-crypto-is-becoming-mainstream/
? https://www.cryptocoinsnews.com/as-bitcoin-hits-10000-its-clear-that-crypto-is-becoming-mainstream/
I was listening to classical music on the r.a.d.i.o., and @ the end of the tune it was time for some short recent news. Bitcoin has passed $11,000 earlier, yes, from $10,000 yesterday...a 10% gain in less than 24 hours, but now has crashed back to $10,075.
NASDAQ wants in, of course:
https://www.reuters.com/article/us-...futures-contract-in-2018-source-idUSKBN1DT2CV
Some expert analysts think that Bitcoin will hit $20,000 by year's end.
Ladies and gentlemen, this is the gold rush.
Other expert analysts tell us to stay far far away from Bitcoin, like the plague. It's a fraud, a bubble waiting to implode, to destroy lives, to make a dent in the corporate corrupted financial world on internet investments.
If it's resembles the .com millionaires of the internet, if history repeats itself, and it will, strap yourself real tight, enjoy an euphoric rise above the sky, and be ready for the eventual downfall afterwards...say from $50,000 to less than a dollar.
Then we'll be after something else, like artificial intelligence from the robots we'll be serving.
Bitcoin mining in Russia is expanding, hackers are more active than ever, and smarter too.
Secrets are the new news, with nothing concrete to report but only hype.
And the race for defense has never been so obvious, with better training required to travel our oceans aboard big ships. It is not tension, it is inadequate funds, training, expertise, maîtrise, navigational experience...like driving bitcoin without waking up the captain sleeping in his cabin.
Make no mistake; some will get rich with bitcoin, Amazon, Apple, and coke.
There is not a single human being who can predict the future of the human race and of the planet it lives on. But bitcoin is sure giving some the ride of their life.
NASDAQ wants in, of course:
https://www.reuters.com/article/us-...futures-contract-in-2018-source-idUSKBN1DT2CV
Some expert analysts think that Bitcoin will hit $20,000 by year's end.
Ladies and gentlemen, this is the gold rush.
Other expert analysts tell us to stay far far away from Bitcoin, like the plague. It's a fraud, a bubble waiting to implode, to destroy lives, to make a dent in the corporate corrupted financial world on internet investments.
If it's resembles the .com millionaires of the internet, if history repeats itself, and it will, strap yourself real tight, enjoy an euphoric rise above the sky, and be ready for the eventual downfall afterwards...say from $50,000 to less than a dollar.
Then we'll be after something else, like artificial intelligence from the robots we'll be serving.
Bitcoin mining in Russia is expanding, hackers are more active than ever, and smarter too.
Secrets are the new news, with nothing concrete to report but only hype.
And the race for defense has never been so obvious, with better training required to travel our oceans aboard big ships. It is not tension, it is inadequate funds, training, expertise, maîtrise, navigational experience...like driving bitcoin without waking up the captain sleeping in his cabin.
Make no mistake; some will get rich with bitcoin, Amazon, Apple, and coke.
There is not a single human being who can predict the future of the human race and of the planet it lives on. But bitcoin is sure giving some the ride of their life.
Folsom,
1. How do you purchase bitcoins?
2. How do you cash them after you become a billionaire on data?
Brief, if you have $100,000 to invest in bitcoin, where do you go, where do you buy, where do you get a receipt, and how do you cash in when you're ready?
My friend asked me this this afternoon.
Plus, where did you get your username from; she asked me that too. :b
1. How do you purchase bitcoins?
2. How do you cash them after you become a billionaire on data?
Brief, if you have $100,000 to invest in bitcoin, where do you go, where do you buy, where do you get a receipt, and how do you cash in when you're ready?
My friend asked me this this afternoon.
Plus, where did you get your username from; she asked me that too. :b
You have those Bitcoin ATM machines in New York City, Joe? You use them?
And, what if you want to buy/sell say $20,000 in one transaction, instead of just $20?
And, what if you want to buy/sell say $20,000 in one transaction, instead of just $20?
The most popular Bitcoin "exchange", where you can buy/sell Bitcoin and other digital currencies, is CoinBase, http://coinbase.com
Apparently they gained 100,000 clients just over the Thanksgiving holiday, and they're not up to something like 13 million clients.
Apparently they gained 100,000 clients just over the Thanksgiving holiday, and they're not up to something like 13 million clients.
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