Was anyone else long on Bitcoin Cash before today?

Discussion in 'General' started by Knotcher, Nov 12, 2017.

  1. Inst Tech

    Inst Tech Well-Known Member

    Explain environmentally terrible.....
  2. redtailracing

    redtailracing gone tuna fishin'

    From the sounds of it, I suspect he's referring to the energy used by all the machines setup as mining ops for btc
    BigBird likes this.
  3. Knotcher

    Knotcher Banned

    Yes, estimates vary significantly, but even the low end estimates show the network consuming as much power as a small nation.
  4. Inst Tech

    Inst Tech Well-Known Member

    Hmm....well, you should see our electric bill at the refinery. Lots of investors in that.
    Ever seen what goes into an IPhone?
  5. Knotcher

    Knotcher Banned

    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.
  6. Sweatypants

    Sweatypants I am so smart! S-M-R-T... I mean S-M-A-R-T!

    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...
  7. motion

    motion RockyMountainMotos.com

    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?
  8. auminer

    auminer Renaissance Redneck

    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.
    Last edited: Jan 10, 2021
    motion likes this.
  9. Venom51

    Venom51 John Deere Equipment Expert - Not really

    Simple rules...you never buy the high...
    motion likes this.
  10. motion

    motion RockyMountainMotos.com

    Once purchased, should I transfer it to a wallet, or OK to leave in Coinbase?
  11. Phl218

    Phl218 Lemme ask my wife

    Send it to me, I will bury it in my yard for you.

    motion likes this.
  12. motion

    motion RockyMountainMotos.com

    Not doing too well on my first day buying BTC :(
  13. YamahaRick

    YamahaRick Yamaha Two Stroke Czar

    I ~told~ you Zuma futures was the real choice!
    BigBird and motion like this.
  14. motion

    motion RockyMountainMotos.com

    There's 2 nearly new 50cc Zumas on ADVRIDER for a pretty good price.
  15. thrak410

    thrak410 My member is well known

    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.
    motion likes this.
  16. sbk1198

    sbk1198 Well-Known Member

    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.
  17. YamahaRick

    YamahaRick Yamaha Two Stroke Czar

    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.
    motion likes this.
  18. motion

    motion RockyMountainMotos.com

  19. motion

    motion RockyMountainMotos.com

    Its also up 100% from early December, so there may still be some opportunity :)
  20. Knotcher

    Knotcher Banned

    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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