Bitcoin....who's gotten into it?

[byates1]

re taking a position. made a quick 5g off the 35/29 range bound state.

i'm willing to be wrong and lose, btc will outperform all legacy investments moving forward.

i can afford to lose. no kids. ymmv.

[byates1]

[MakersTeleMark]

re taking a position. made a quick 5g off the 35/29 range bound state.

i'm willing to be wrong and lose, btc will outperform all legacy investments moving forward.

i can afford to lose. no kids. ymmv.

I have been a person that never got into, or was introduced to chips, and all those accessory dipping things.

But YAS.

[byates1]

must be following a different narrative, makes complete sense now.

buy btc. hold for 10/20 yrs. laugh.

[MakersTeleMark]

Set it and forget it.

[stalefish3169]

Bitcoin

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[jm2e]

So wait, when do I get my monies back?


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[stalefish3169]

Bears kinda quiet lately. Interesting.

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[bennymac]

Just like the bulls were super quiet when BTC dropped. If you’re criticizing the bears you’re also criticizing yourself.

[Bunion 2020]

Bull/Bear or just an interested observer? Whatever dude.

PumpNdumps usually behave like this.

[stalefish3169]

Bull/Bear or just an interested observer? Whatever dude.

PumpNdumps usually behave like this.

Zoom out bro and it's just a pump.

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[stalefish3169]

Supply-chain bottlenecks have driven inflation to higher levels than many economists expected, and those readings have raised “the possibility that inflation could turn out to be higher and more persistent than we expect,” said Fed Chairman Jerome Powell

Gosh, I feel better now. The inflation probably has nothing to do with the ruling class printing trillions of dollars out of thin air so they could pump stonks.

https://twitter.com/NorthmanTrader/s...419632138?s=19

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[MultiVerse]

As a bull market speculative asset, Bitcoin has profited mightily from the Fed too.

Meanwhile, the rise in fossil fuel reliant Canadian, Kazakhstani, and Iranian mining since China restricted miners means Bitcoin is even dirtier than before. In the midst of an increasingly evident environmental crisis it seems likely at some point crypto will have to move away from Bitcoin and its dirty Proof-of-Work algorithm towards more efficient alternatives.

[shera]

As a bull market speculative asset, Bitcoin has profited mightily from the Fed too.

Meanwhile, the rise in fossil fuel reliant Canadian, Kazakhstani, and Iranian mining since China restricted miners means Bitcoin is even dirtier than before. In the midst of an increasingly evident environmental crisis it seems likely at some point crypto will have to move away from Bitcoin and its dirty Proof-of-Work algorithm towards more efficient alternatives.

While you're at it, please move us away from "dirty" electric cars and gaming and faang servers and banking data centers. Oh and while you're at it, please tell E Warren to fly commercial, private planes and rockets for trillionaire space tourism are ludicrouse wastes. Hey if we can just put a stop to transportation altogether and put a stop to air conditioners, what a ridiculous waste those are...the list of waste goes on and on and on. But I suggest looking at the 1% first, their waste can cut carbon in half easily.

Also, I just read that shutting down the 5 dirtiest plants on the planet would single handedly set back global warming significantly.

If you really care, widen your vision. Really.

[MultiVerse]

While you're at it, please move us away from "dirty" electric cars and gaming and faang servers and banking data centers.

Electric cars and data centers have become much more efficient over time whereas bitcoin, by design, has become less efficient.

The Bitcoin network is now consuming about 140 TWh per year, roughly equivalent to countries like Sweden, Norway, or the Ukraine just to perform less than 8 transaction per second. Each transaction consumes enough energy to power 1 U.S. household for 60 days.

[MakersTeleMark]

Electric cars and data centers have become much more efficient over time whereas bitcoin, by design, has become less efficient.

The Bitcoin network is now consuming about 140 TWh per year, roughly equivalent to countries like Sweden, Norway, or the Ukraine just to perform less than 8 transaction per second. Each transaction consumes enough energy to power 1 U.S. household for 60 days.

And that is a good thing for security of the network. Let all the other coins go POS, but BTC will never be one of them. Do you think gold is cheap and clean to mine?

[MultiVerse]

Do you think gold is cheap and clean to mine?

No i don't think gold is cheap and clean to mine but it is infinitely more efficient to mine because once it's mined it exists forever, unlike bitcoin which ceases to exists if mining ever stops. Bitcoin mining is also now more carbon intensive than mining real gold.

[MakersTeleMark]

No i don't think gold is cheap and clean to mine but it is infinitely more efficient to mine because once it's mined it exists forever, unlike bitcoin which ceases to exists if mining ever stops. Bitcoin mining is also now more carbon intensive than mining real gold.

Hmm. What do you think is going to happen when btc is fully mined? It's just going to cease to exist? Cmon man. Learn some fundamentals. And you are full of shit vs gold.

[MultiVerse]

Fundamentals? Bitcoin security requires paying rewards to miners in two ways: 1) block subsidies and 2) transaction fees. Do you think metaphoric bitcoin mining only refers to block subsidies and not transaction fees too?

Either way, due to the hard cap the block subsidy will eventually go to zero and nobody really knows what will happen after that. Because fees will have to increase to maintain security. But higher fees lower transaction demand and fewer transactions decreases the hash rate, which decreases security. Bitcoin will no longer be thought of as a store of value if transactions fall because of high fees.

[MakersTeleMark]

I think I'm out of facepalms.

[bennymac]

I think I'm out of facepalms.

Can’t you just mine some more?

[stalefish3169]

Can’t you just mine some more?

There are only 21 million.

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[MakersTeleMark]

Can’t you just mine some more?

That would use too much face oil.

[MultiVerse]

I think I'm out of facepalms.

Let's play the "What's wrong with the claim about block subsidies and transaction fees" game! I'll go first: nothing.

[MakersTeleMark]

Step aside old man. You don't have enough limbs to donate.