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19th December 2021, 08:54 AM
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Re: CRYPTO CURRENCY THREAD- Bitcoin breaks $50K
Quote:
Originally Posted by techguy
Eur Shib was up by 25000% the next day after its launch, made many people rich in 24 hrs. Those who have invested a mere 100 bucks made $2.5M the next day.
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WTF is "Eur Shib"? :^)
__________________
It's all jaded style to me.
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19th December 2021, 07:40 PM
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Re: CRYPTO CURRENCY THREAD- Bitcoin breaks $50K
Warren Buffett: Why You Should NEVER Invest In Bitcoin
https://www.youtube.com/watch?v=XUsg...l=FREENVESTING
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20th December 2021, 07:22 PM
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Re: CRYPTO CURRENCY THREAD- Bitcoin breaks $50K
Quote:
Originally Posted by blackpower
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Not sure why this is not popping up on "home page" but checking.
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22nd December 2021, 01:14 PM
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Re: CRYPTO CURRENCY THREAD- Bitcoin breaks $50K
Testing to see if this new posts will make thread appear on Home Page
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26th December 2021, 03:21 PM
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Re: CRYPTO CURRENCY THREAD- Bitcoin breaks $50K
Trying again to get this to the "Home Page"
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28th December 2021, 09:49 AM
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Re: CRYPTO CURRENCY THREAD- Bitcoin breaks $50K
Why bitcoin is worse than a Madoff-style Ponzi scheme
"
Bitcoin’s collapse would look very different to that of Ponzi’s or Madoff’s scheme. One possible trigger could be the collapse of a big so-called stablecoin, that is, ersatz US dollars that have sprung up to provide a cash leg for cryptocurrency transactions. These “unregulated money market funds” have been sold as dollar stand-ins with safe assets that match their outstanding liabilities. Given the lack of regulation and disclosure, it is not hard to imagine a big stablecoin “breaking the buck”, as occurred with a regulated money market fund that held Lehman paper in 2008.
The Cost
On the second count, another big difference between bitcoin and a Ponzi scheme is that the former is, from an aggregate or social standpoint, a negative sum game. To the extent that real resources are used up to make bitcoin run, it is costly in a way that Madoff’s two- or three-man operation was not. From the social standpoint, what Madoff took out of his scheme and finally consumed is a redistribution in a zero-sum game (the trustee sold his penthouse). Stolfi’s fourth observation above that “the operators take away a large portion of the money” lumps together Madoff’s take and bitcoin miners’ revenues, but these are very different in economic terms.
How big a cost? At the beginning of 2021, Stolfi put the cumulative payments to bitcoin’s miners since 2009 at $15bn. At the then price of bitcoin, he put the increase in this sum at about $30m per day, which mostly pays for electricity.
At today’s higher bitcoin prices, the hole is growing faster. About 900 new bitcoin a day require most of $45m a day in electricity.
As an object of speculation, bitcoin is unprecedented in the degree to which there is no there there. This post-modern mania features big prices for entries on nobody’s spreadsheet. A zero-coupon perpetual has arrived not as a joke but as a trillion dollar asset. Unlike a Ponzi scheme, bitcoin cannot end in a run.
In a crash, the holders of bitcoin will collectively have lost what they have paid the miners for their bitcoin. This sum may be not far from the sum originally invested with Madoff, after accounting for inflation. But bitcoin holders will have no one to pursue to recover this sum
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Last edited by blackpower; 28th December 2021 at 09:58 AM..
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29th December 2021, 11:29 AM
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Re: CRYPTO CURRENCY THREAD- Bitcoin breaks $50K
I don't agree with the above statement that bitcoin is a scam. Tether on the other hand seems like such an obvious scam. Just waiting for that one to burst. It is a big one.
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9th January 2022, 06:25 PM
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Re: CRYPTO CURRENCY THREAD- Bitcoin breaks $50K
Seems we have come full circle
Some predicting Bitcoin to go to mid 30's before rebounding and perhaps another big run up.
Last edited by bwhhisc; 9th January 2022 at 06:31 PM..
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5th March 2022, 09:51 PM
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Re: CRYPTO CURRENCY THREAD- Bitcoin breaks $50K
Wish i had a crystal ball for Crypto
Anyone have any new hot tips
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9th March 2022, 05:04 PM
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Re: CRYPTO CURRENCY THREAD- Bitcoin breaks $50K
Me too. Some crazy stuff can happen in just 12 months. Just need a crypto crystal ball.
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20th March 2022, 11:52 AM
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Re: CRYPTO CURRENCY THREAD- Bitcoin breaks $50K
Quote:
Originally Posted by Kent99
Me too. Some crazy stuff can happen in just 12 months. Just need a crypto crystal ball.
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Looking for that next big idea
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20th March 2022, 03:07 PM
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Re: CRYPTO CURRENCY THREAD- Bitcoin breaks $50K
Drewbert mentioned he was doing some Achi coin farming. https://achicoin.org/
It looks like the projected supply for April is 7,247,000,000 and total projected supply in 2054 is 15,691,640,000
In the Discord one buyer is bidding .00005 consistently so I am not sure if he is getting fills at that price. Gonna make a micro investment in this one for fun. Just gotta figure out how to not get scammed as it looks like the only place this trades regularly is in the Discord.
Last edited by Kent99; 20th March 2022 at 03:10 PM..
Reason: correction
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3rd April 2022, 06:36 PM
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Re: CRYPTO CURRENCY THREAD- Bitcoin breaks $50K
Quote:
Originally Posted by Kent99
Drewbert mentioned he was doing some Achi coin farming. https://achicoin.org/
It looks like the projected supply for April is 7,247,000,000 and total projected supply in 2054 is 15,691,640,000
In the Discord one buyer is bidding .00005 consistently so I am not sure if he is getting fills at that price. Gonna make a micro investment in this one for fun. Just gotta figure out how to not get scammed as it looks like the only place this trades regularly is in the Discord.
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Hey Kent
Did you get into this one?
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3rd April 2022, 09:14 PM
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Re: CRYPTO CURRENCY THREAD- Bitcoin breaks $50K
Nope. I spoke before I knew what was involved with setting up an Achi wallet. It was too much for a tech simpleton like me. It will probably skyrocket now.
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17th April 2022, 02:28 PM
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Re: CRYPTO CURRENCY THREAD- Bitcoin breaks $50K
Bitcoin vs. Etherium for the forseeable future
Good read
https://money.usnews.com/investing/c...s-a-better-buy
Bitcoin vs. Ethereum: Bottom Line
There are some other key differences between Bitcoin and Ethereum. Some parts of the world use Bitcoin as a means of exchange for goods and services. Bitcoin has been adopted as legal tender in El Salvador, for example.
Ethereum's transactions are not monetary in nature; rather, a collection of codes, or smart contracts, are deployed on the network. These smart contracts are the building blocks of Ethereum applications. "This feature makes Ethereum dynamic and growing, while Bitcoin wants to be boring and stodgy. Ethereum's value comes from what its network can create, while Bitcoin's value derives from what its network can protect,"
Crypto investors commonly hold both Bitcoin and Ethereum, given their stronger fundamentals and longer track records compared with other cryptocurrencies. Although they have different roles, most analysts agree that both will have a leading position in the crypto market for the foreseeable future.
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24th April 2022, 05:15 PM
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Re: CRYPTO CURRENCY THREAD- Bitcoin breaks $50K
Price of bitcoin 1 year ago $49,120
Price right now $39,561
Disappointing year for bitcoin
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13th May 2022, 12:56 PM
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Re: CRYPTO CURRENCY THREAD- Bitcoin breaks $50K
Quote:
Originally Posted by Kent99
Price of bitcoin 1 year ago $49,120
Price right now $39,561
Disappointing year for bitcoin
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And it got worse....
Gone to sub $ 30k....maybe a buying opportunity?
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22nd June 2022, 07:58 PM
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Re: CRYPTO CURRENCY THREAD- Bitcoin breaks $50K
Has crypto winter arrived?
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25th June 2022, 07:25 AM
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Re: CRYPTO CURRENCY THREAD- Bitcoin breaks $50K
Quote:
Originally Posted by Kent99
Has crypto winter arrived?
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why?
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3rd July 2022, 05:48 PM
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Re: CRYPTO CURRENCY THREAD- Bitcoin breaks $50K
Quote:
Originally Posted by Kent99
Has crypto winter arrived?
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Seeing articles that say we have not seen the bottom yet.
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