Months of stagnation? BTC started this bull run months ago. This news happened less than a couple weeks ago. Unless you’re suggesting that people were front running that news a crazy amount, which makes no sense since it’s a pretty minor bit of news in the context of impact on BTC price.
Liquidity is drying up and that will be halved in less than a year. Big players working with Billions have been accumulating BTC since before the 2018 dump. The scarcity of this asset alone will drive the price to unfathomable levels. Retail players are irrelevant this go round. Sell it at your peril.
I can’t help myself. Where are these echo chambers that tout the hell out of BTC? I can’t get enough of these type of posts.
Sold CETX for a big loss yesterday, transferred everything into BTC about 3PM yesterday. Today: CETX is up huge, BTC dropped. MOTHERFUCKER
It's not quite as extreme and constant but Bitcoin Maximalist twitter has some of this type of stuff.
Podcasts and Twitter will get you closest to the signal. Tales from the Crypt/ Marty Bent and Matt Odell https://podcasts.apple.com/us/podcast/tales-from-the-crypt-a-bitcoin-podcast/id1292381204 Bitcoin Knowledge/ Trace Meyer https://podcasts.apple.com/lt/podcast/the-bitcoin-knowledge-podcast/id301670981?mt=2 Noded/ Pierre Rochard https://podcasts.apple.com/us/podcast/noded-bitcoin-podcast/id1308074867 Stephan Livera https://podcasts.apple.com/us/podcast/stephan-livera-podcast/id1415720320 Those are some of my favorites. Twitter is amazing as long as you get rid of all the shitcoiners.
So many pros seem to be getting infected by bitcoin this go around. They are a perfect host for the 4th cycle. was listening to Ben Askren spreading the good word on a podcast yesterday i believe.
i didn't get a lambo but i just liquidated and am trying to buy a (used) rolex so i expect btc to take off now it also took me ~ 3 hours to get my coins out of my ledger nano s last night. holy hell that thing is a fucking hellhole. it bricked when it was updating firmware. what a fucking con that thing was.
https://www.axios.com/bitcoin-minin...ing-659a5bd4-6280-400c-8b8a-595d18d70444.html "Based on these analyses and data from IPO filings of hardware manufacturers and insights on mining facility operations and pool compositions, bitcoin mining is likely responsible for 10–20 Mt CO2 per year, or 0.03–0.06% of global energy-related CO2 emissions," he writes. Someone a few pages back said they were concerned w/ energy consumption. Pretty decent write up in regards to that.
It’s an offset reaction. As processing power goes up, it get easier to mine a block, so the value is less. At least that’s what I understand. The reward doesn’t effect the amount in circulation. It only effects the additional amounts injected into circulation and slows it down. An interesting thing about this is how bitcoin can be “lost” from circulation as people who own it die or are incarcerated. With a currency which sees a percentage used for illicit transactions, those owners put themselves at risk. If they die and don’t share their passwords, those funds disappear. They aren’t tangible. It’s an interesting effect I had never considered.
I'm still a believer that crypto is the future of moving money but I'm still not 100% sold on Bitcoin. It seems like every company is coming out with their own blockchain.
I think the exact opposite. "Crypto" is a fucking joke and 99% of crypto currencies are scams. We do not need fucking Dentacoin to pay your dentist. (Yes that is a real thing) Bitcoin is the only thing that matters
Oh I agree we don't need stuff like that. It seems like every bank has their own. I just don't see many things being based on Bitcoin. Everyone is making their own.
Bank's blockchains are not Bitcoins competition. There are Cryptos that compete directly with something like that and may or may not be better IDK (see Ripple) but they are completely different things.
What is Bitcoin going to be used for? If I bank with Chase, I'll still use my Chase card to buy shit. They'll jut use blockchain to move my money around. That's how I see it going. I just dont see why I'll need Bitcoin.
Ive taken a few CPE's on this now....blockchain is here to stay...however, the "anonymity" of bitcoin is the niche that keeps it going as a "currency". The FDA's blockchain pilot will be great if it works (Merck and co is leading the project iirc) But, you're right....everyone is creating their own blockchain. Makes the need for Bitcoin and it's tech miniscule.
It's a store of value, much like gold. That's a realistic scenario, bank w/ chase and use the "Chase Token" but it's not at all the same as bitcoin. It's a tokenized version of the dollar, India already has this. Bitcoin is set apart by the protocol, mining, the halving schedule, and it's been running flawlessly for over 10 years. It's hard money that can't be printed on a whim, like xrp, the "chase token" or the US dollar. You may not NEED bitcoin a lot of others in the world do.
Bitcoin is a gold replacement. Aka a store of value outside the financial system. Many other cryptos have different value propositions. Ripple makes a ton of sense as a use for the crypto technology. To be honest I thought Factom had a great value prop/use case as well. Overall I never understood why people thought crypto currencies would be inherently valuable when the underlying technology is so easily replicable.
The "anonymity" of bitcoin? There really is none unless you are using mixing pools. In Fact privacy and anonymity would be my biggest beef w/ Bitcoin going forward.
I just don't see Bitcoin replacing the US dollar. I see crypto being used daily but I think they'll all be based on US dollars. Like now, we say a Bitcoin is worth $7k or whatever. I don't think we'll ever say a Chase coin is with 4 Bitcoins or anything like that. It'll always be a Chase coin is worth 3 US dollars. Or more likely we won't even use Chase coins. We'll use US dollars, Chase will just use their own blockchain on the backend to move our money around.
So there's a difference between Bitcoin and a blockchain that moves your USD from your Chase account to another bank's accoun, or a blockchain that changes your USD to Chinese yen. "Blockchains" can serve a specific purpose or perform some specific protocol. The answer to your question - "what is Bitcoin [or something similar] going to be used for?" - is that it will be money itself. The big idea is that USD, the Chinese yen, etc. will cease to exist entirely. You wouldn't need banks to store your money at all. You wouldn't be paying transaction fees or anything else like that. Rather, the entire world would use a single form of currency (like Bitcoin) to conduct all commerce and every transaction could be done from your phone. And it wouldn't be centralized to one government or region, and thus could not be manipulated.
It might not be Bitcoin, and maybe not in our lifetime, but it will happen with something. Think about it this way: China artificially manipulates the value of its currency. That artificial manipulation affects international trade. But with a decentralized "store of value" (i.e. money) like Bitcoin, that would be impossible. And I'm not arguing for Bitcoin itself; only the idea of Bitcoin.
I don't disagree with any of this, but I do think you're over valuing blockchain tech It might not, nobody knows. I do know Bitcoin will continue trucking along doing what it does.
China censors all kinds of shit. I don't see them being like "Oh yea, cool, no problem you can use any currency you want." It sounds great in theory but I don't see govt's giving up that control.
People in 2000 didn't think people would be paying bills online or using credit cards instead of cash. Things change. Things are changing faster now than they ever have.
Maybe something not in existence yet? I don't know. I'm not saying anything else is better or anything like that. Governments might not have a choice in the matter. If everyone moves to Bitcoin, it is impossible for a government to do anything about it so long as internet exists.
True and fair. I could be wrong. I just can't see the govt's losing control of the currency their people use.