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Thread: Bitcoin??

  1. #31
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    Re: Bitcoin??

    Man, that's a huge dip. It was $6-7k for months and months, right? I fully expected another boom by the end of the year since it held value for that long but I guess the opposite happened.

  2. #32
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    Re: Bitcoin??

    This could be the breaking point....just past below 3500
    one of the big miners just filed for bankruptcy, apparently they need over $3500 a coin to make money while my understanding the average is around $3100

    add to this the is a software change coming where the miners have to do twice the work to make the same amount next month some time
    and I am wondering if it will survive.

    It will survive , I am just not sure where it will end up.

  3. #33
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    Re: Bitcoin??

    Bitcoin will survive although on life support and possibly come back but Cryptocurrency will always be here.

  4. #34
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    Re: Bitcoin??

    bit coin was never designed to be a investment or a place you kept money. it was designed to be short term cash transfer mechanism..
    and the volatility may get back to what it should be .. something people keep for a couple of hours

  5. #35
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    Bitcoin??

    Quote Originally Posted by xdude View Post
    bit coin was never designed to be a investment or a place you kept money. it was designed to be short term cash transfer mechanism..
    and the volatility may get back to what it should be .. something people keep for a couple of hours
    I had a buddy throw 10k in 3 years ago. He cashed out last year. He made ALOT

    But yes, not at all an investment. Way better of with long term low risk

  6. #36
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    Re: Bitcoin??

    well if you think about it there will never be more than 21 million coins .
    So this was not supposed to be a place where everyone kept a lot of cash.Just a transfer place.

    bit coin fascinates me in so many ways
    1) the whole idea of what is money... first we traded , then we came up with various things as a common asset gold silver now but at times it was salt, fur aluminum stuff that you would question for value. then came legal tender of nations ie green paper and now we have bitcoin which is a consensus of computer ledger.. in a way that sounds better person a pays person b in an arbitrary computer ledger.

    2) I am a computer geek, and the idea that something is unhackable is nonsense...but they have a pretty good system. it would take a lot to hack this and I don't think it is possible .

    3) Satoshi Nakamoto inventor of bitcoin doesn't exist ... and no one knows who he really is.. and apparently is estimated to have a million coins in a digital wallet on a computer somewhere even at today's prices it is a sizable chunk of money. seriously this is an interesting read, The idea of a unknown billionaire ...how does that happen?
    https://en.wikipedia.org/wiki/Satoshi_Nakamoto

    4)wall street and businesses are convince the block chain idea will catch on, the idea that people/companies will voluntarily use their computers and pay for power to run it , to do work for free , well that is bullsh*t

    5) computer gamers are all pissed off that the high end video cards are being bought up by home miners.....last year you couldn't find one anywhere. Finally with the collapse they are available ... I am expecting some good deals on Ebay soon. Just saw a guy on Craig's list selling 9 of these multi card rigs. can only image what it is like playing call of duty on an 8 video cards system .LOL

  7. #37
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    Re: Bitcoin??

    wow did any one see this

    https://www.ccn.com/190m-gone-how-ca...change-lost-it

    190 million locked away and no one can get at it...

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