So bitcoin “halved” today
 

And after four years since the last one, this seems extremely anti-climactic!

And what did you expect to happen?
I remember the last one and nothing happened then either. If I remember correctly it actually went down a bit over the following weeks.
It took about 6 months to start to gain steam again and over the next year we hit an all time high.
My thoughts would be. Buy now while it is low and wait until around DEC 21.

But, what the fuck do I know?

:thumbsup

I don’t really know what I expected, to be honest. Maybe like some Y2K shit? 🤪

You described this precisely. Markets need some time to feel lack of supply. 2021 year will be huge for bitcoin. Just Hodl ;)

I told my wife I expected it to be 50,00-70,000 and she looks at me like I am crazy.

I dont think you are "crazy" - just ignorant.

Blockchain aren't going anywhere, but the virtuel money will slowly die like all the other ponzi schemes, because we live in a consumer based economy.

It will be up and down the next few years, but the Trade Volume will continue the descent.

Make your money daytrading if you want, but dont call it a investment.

Sucks you don't see value in it, nobody can force you.

What other service do we have, that can't be shut down, that offers immutable, unconfiscatable transfer & store of value? If sender A sends to sender B there is no mathematical way any 3rd party can interfere, no gov, no paypal agent, no bank, no 9-5 mon-fri bank hours, no holiday, etc etc

I do know there's no arguing with those who blurt out "tulip mania" & "ponzi", those are the words used by people who are ignorant to it & can't make a good argument against it, but for fun sakes, @Ferus can you make a case against Bitcoin as a SOV?

Also what is your data source on "volume continues to descent", CMC data shows you're clearly wrong there :upsidedow

I agree.
Time has been nothing but friendly for Bitcoin, as it was designed :thumbsup

I see the value in Blockchain and sell solutions today based on AWS QLDB. But Bitcoin is still a ponzie scheme, because like ANY technology there is a lifecycle to it, and whoever is left in the end, is stuck with legacy-money.

You dont have to agree with me, I'm fine with people being of a different opinion as long as its not downright stupid.

This chart is not up for discussion, we just disagree where we are on it

https://s3-us-west-2.amazonaws.com/c...-lifecycle.png

The problem I see with Bitcoin is that it does require quite a bit of infrastructure and mathematical computational power. The amount of electricity needed to power those server parks is significant. This means that there is a running cost to keep it up and in functional order. Imagine if the price of electricity would rise globally and force many of those large miners out of business or many would just decide it’s not worth the risk or the trouble. That might cause the price of Bitcoin to plunge - which then in turn would make it even more unprofitable to mine Bitcoins and it would be a downward spiral.

If I have cash in my hand, sure, it can get depreciated due to inflation but it doesn’t ”cost” anything to keep it up, once it has been produced and distributed. On the other hand, if I want to move it, physically, it is often very expensive and hard to send over any large distances.

There are pros and cons of everything here in life!

I bought a casasius bitcoin (or whatever it's called) back in 2013 for £220. I gave it to my daughter for her birthday with the intention that she couldn't open it until she is 18. She is 10 at the moment so I am still banking on another 8 years before Bitcoin is a 'thing'.

I'm certain it won't die. It will continue to grow.

I seem to suffer from bitcoin-blindness . . .

You clearly don't know the meaning of "ponzi". I'd like to know who's promising massive returns in Bitcoin? The Bitcoin CEO? (There is no central entity running Bitcoin)

Pls research "ponzi" man, lets have a good discussion.

There will always be a demand for bitcoin mining. Some people have access to cheap electricity, there's renewable energy (Bitcoin is mined by 70% renewables) among other things.

Bitcoin only needs to exist in order for it to succeed. :2 cents:

Key point is that Bitcoin needs electricity to exist or function. If you pull the plug out, Bitcoin effectively dies.

No electricity, yes Bitcoin should die with an apocalypse.

Proof-of-work is a great thing, allows for decentralization and theoretically fair for anyone to mine (ofc currently the biggest companies have advantage)

Dont be mad...

Ponzi scheme in my book = "to rob Peter to pay Paul" / "pump and dump" - call it what you want. Those buying in now, thinking it will reach 100.000 are paying for all the smart people to exit with cash in hand.

Again, if you want to daytrade it, you can still make money from people fear and market movement, but it over soon (less than 3000 in two years).

Bookmark the topic and revisit it in two years.

Not mad, just a friendly correction about your misuse of word ponzi.

Been revisiting the bitcoin threads for many years, lots of wrong predictions as i think yours will be ;)

Do you believe Paul Tudor Jones, grayscale, jp morgan (with gemini & coinbase) are all part of the so called ponzi? Are they Peter or Paul?

You certainly are mistaken, the pump & dump is stock market while the true ponzi is the US dollar.

Wouldn't it be a better business to sell the renewable energy, than mine at the current rate?

It was more or less break even before the halving, and many miners were run on zombie/exploited machines where the miner dident pay for the power.

Let it be noted that I correctly guessed the "guess the price of bitcoin in 3 years" or whatever it was thread. Right here on GFY.com

Not necessarily. Have you not seen the Microsoft crypto patent WO/2020/060606
That is to mine crypto using the body's actions.

It's impossible to predict Bitcoin since Fundamentals and TA (Technical Analysis) do not apply to cripto.

Anyone investing in stocks, futures and S&P500? What broker do you use?

I like the slow increase of BTC.. currently at $8.9k.

Nice! Where's that thread? Let's bump it ;-)

kim.dom said to buy crypto

i read in 2 years from now 1 btc = 640k dollars

What is bitcoin ?? :stoned

https://www.personalcapital.com/blog...8/mountain.jpg

:thumbsup

https://gfy.com/fucking-around-and-b...tcoin-5-a.html

Feb 14 - Feb 19.

good call!

bumped that thread too :-)

You can use that for most companies too. Or new idea etc.

He put 1% of his net worth. Not exactly a resounding yes.

I always thought if it gets less active someone will just use a computer and hack it. The reliance on more and more computing is a flaw imo.

Did you expect he's going to jump in head first??

Same with J.Dimon, first he calls it fraud, now he's banking for the biggest USA crypto exchanges.
"1st they ignore, then they laugh, then they fight, then you win" - Ghandi

As for your idea about Bitcoin being hacked, at least you busted out a decent argument, i guess you mean with quantum computing, in that case encryption and many other things in world will get hacked/broken too. From what i understand QC wont be around for a very very very very long time