Crypto currencies 101.....for us neophytes.

[X-it]

Don't forget to pick up some lottery tickets, it is not a tax on the hopeless. Or you can invest in a few of the 100000 gold coins coming from china each month, they are 3 dollars a peace.

 

[ferniesnow]

Now you need to get into the derivatives market and make money when the price falls back down.

What my experience has gained over the last couple of years is that Crypto is very volatile. It will more than likely go down considerably and in a hurry. If that is the case, I will buy some more and try to get lucky again.

 

[jhurkot]

April 16th.


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[jhurkot]

$100k by end of day?


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[ferniesnow]

$100k by end of day?


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Wowzers....

 

[ferniesnow]

It appears that I sold too soon.

 

[j335]

It appears that I sold too soon.

You got 3x your entry. That is successful. Bitcoin does well when US stock market is well (1.5 times S&P), drops when stocks drop. As you said it’s extremely volatile. Re-enter when nobody on S&M is buying Bitcoin….

 

[ferniesnow]

You got 3x your entry. That is successful. Bitcoin does well when US stock market is well (1.5 times S&P), drops when stocks drop. As you said it’s extremely volatile. Re-enter when nobody on S&M is buying Bitcoin….

That’s what went through my head.

 

[lilduke]

I aint buying at 90g i can tell you that much for free. This is when we talk about it though...

 

[ferniesnow]

I aint buying at 90g i can tell you that much for free. This is when we talk about it though...

What about the “split thingy”?
Any bonus when they do that?

 

[jhurkot]

You got 3x your entry. That is successful. Bitcoin does well when US stock market is well (1.5 times S&P), drops when stocks drop. As you said it’s extremely volatile. Re-enter when nobody on S&M is buying Bitcoin….

I think the days of buying cheap are behind us. Halving coming up soon. Every country in the world abusing the money printer.


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[lilduke]

What about the “split thingy”?
Any bonus when they do that?

It becomes less profitable to mine by half.

So what effect that has hard to say, but miners will need a higher price to stay profitable.(or the hash rate ie compitition drops)


I used to think million dollar bitcoin was a pipe dream. But its at almost 100g Canadian now. Seems more possible.


It would be nice to dump it now and get back in at my buy price (4g) but it probably will never go that low again. And if i sell.now and it goes way higher id never forgive myself. Lol

 

[jhurkot]

What about the “split thingy”?
Any bonus when they do that?

So right now each block reward is 6.25 btc. All the miners in the world are fighting over that. Every 10 minutes, 6.25 BTC. That equals about 900 BTC created each day. Around April 16th it will be half that. 3.125 BTC every 10 minutes or 450 new BTC each day. 2028 will be 225 BTC per day.

So miners that are securing the network are using a lot of energy to get a smaller reward. If the electricity/hardware cost per coin gets high, then the price has to go up because miners usually don’t sell at a loss. Of course the flip side is that if the price goes down and the cost of mining exceeds the price, miners will turn off their machines.


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[lilduke]

So right now each block reward is 6.25 btc. All the miners in the world are fighting over that. Every 10 minutes, 6.25 BTC. That equals about 900 BTC created each day. Around April 16th it will be half that. 3.125 BTC every 10 minutes or 450 new BTC each day. 2028 will be 225 BTC per day.

So miners that are securing the network are using a lot of energy to get a smaller reward. If the electricity/hardware cost per coin gets high, then the price has to go up because miners usually don’t sell at a loss. Of course the flip side is that if the price goes down and the cost of mining exceeds the price, miners will turn off their machines.


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If miners turn off thier machines the miners still minining have less compitition and it still works out.


Bitcoin is really ingenious. I new that from the start

 

[freeflorider]

I agree $90k I say no way I’d buy in. Why are the other etfs not seeing this kinda growth though. I’m watching a few but not seeing the big numbers bitcoin produces.

 

[lilduke]

ETF? WTF is that lol

 

[adamg]

I agree $90k I say no way I’d buy in. Why are the other etfs not seeing this kinda growth though. I’m watching a few but not seeing the big numbers bitcoin produces.

Pretty simple. When the value of something is based on what all the buyers and sellers think it will be worth in future, meanwhile the thing itself is worthless to own, its value is completely tied to the 'mood of the mob.'

 

[ABMax24]

I have no skin in the Bitcoin game, but I am watching this intently. Curious to see where this tops out at this time. $100k USD would be my best guess, and then to see how fast it falls apart.

I would think there's a bunch of people ready to cash out. This run up will make more than a few people millionaires if they time it right.

 

[freeflorider]

Pretty simple. When the value of something is based on what all the buyers and sellers think it will be worth in future, meanwhile the thing itself is worthless to own, its value is completely tied to the 'mood of the mob.'

So exactly like when Polaris says this yrs sleds going to be the best one yet.

 

[adamg]

So exactly like when Polaris says this yrs sleds going to be the best one yet.

The new P22 bolt is an improved design.