Discussion in 'General' started by Knotcher, Nov 12, 2017.
Explain environmentally terrible.....
From the sounds of it, I suspect he's referring to the energy used by all the machines setup as mining ops for btc
Yes, estimates vary significantly, but even the low end estimates show the network consuming as much power as a small nation.
Hmm....well, you should see our electric bill at the refinery. Lots of investors in that.
Ever seen what goes into an IPhone?
Refineries require energy to produce goods. iPhones require power to operate.
Cryptocurrencies do not require proof of work or mining anymore. It's wasted energy.
The global bitcoin network's power consumption dwarfs a refinery. Last reasonable estimate I saw was about 80 Terawatts.
i dunno why you guys compare fiat currency to crypto as far as intrinsic value. the US dollar has a giant economy, a history, stability, billions of people that use it for transactions who have no idea what a bitcoin is... and most importantly, a giant army with missiles and tanks behind it. that's what's backing it up that bitcoin doesn't have. the US military will go to war to protect its monetary interests. there is nobody going to war representing bitcoins with any army.
irrelevant to all that... its still being held as a speculator investment, which defeats its entire purpose in being. when it starts moving by fractions a day instead of $2000 a day, maybe it'll actually serve its purpose.
i actually thought about jumping in for shits and giggles at the beginning of COVID just because i figured people might get nervous and flock to gold and bitcoin and other shit, but i didn't pull the trigger. oh well, maybe at the next bottom...
Finally got my Coinbase login sorted out and my bank account linked. Since I completely suck at timing these kind of things, can you guys tell me when to jump in? I see that its down +5% right now and dropping, so I'm thinking now is not the time?
My understanding of the situation is that bond yield rates rose, so the dollar is ostensibly stronger, which drops the number of dollars needed to buy a bit coin (or an ounce of gold, silver, weed}.
Given that there is a pretty good likelihood that the dollar printing press is not going to slow down anytime soon, I'd guess that this pullback is a buying opportunity.
This advice is worth exactly what you paid for it.
Simple rules...you never buy the high...
Once purchased, should I transfer it to a wallet, or OK to leave in Coinbase?
Send it to me, I will bury it in my yard for you.
Not doing too well on my first day buying BTC
I ~told~ you Zuma futures was the real choice!
There's 2 nearly new 50cc Zumas on ADVRIDER for a pretty good price.
I'm holding what I have long term... if the rumors are to be believed, Biden is about to announce TRILLIONS in stimulus on Thursday to be released as soon as he takes office.
The value of a USD is going to tank. Go to BTC or precious metals.
You missed the good time by quite a few years. July 2013 it was like $75 for a BTC lol I did too ....never even heard of Bitcoin until 2017 and of course I bought some when it was high.
Good price? That's 2X what I'd buy at.
When selling, I'll ask that price, but will market to the non-MC, hipster, stupid with $ in-towner.
Its also up 100% from early December, so there may still be some opportunity
If you’re getting in to make a quick buck, just go to Vegas instead. At least you get free drinks. Hodl is the best strategy. The play is to make huge returns but over many years. Or bust.
I’m into Nano because I believe that most times, superior tech wins out in the long run. Doesn’t mean it will.
But if it does...
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