Bitcoin
Bitcoin
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- drgs1
I flipped bullish again, let's try this
- neverscared1
Carol Alexander, professor of finance at Sussex University, said she expects bitcoin to tank to as low as $10,000 in 2022, virtually wiping out all of its gains in the past year and a half.
- ". Her bearish call hinges on the notion that bitcoin “has no fundamental value” and serves as more of a “toy” than an investment."shapesalad
- So she did on-chain analysis, long / short holding of wallets, whale address analysis, etc etc.. or she just doesn't like it and said 'oh yeah it's going down'?shapesalad
- She's aware of JPM now offering crypto investments to their wealthy clients. That family offices are getting deep into btc, that everyone now sees it as part ofshapesalad
- an inflation hedge with lower costs than holding / transferring gold. She is aware of all that?shapesalad
- How is it an "inflation hedge"? It's 100% speculation/gambling... Far too volatile to be a "hedge" and tracks the markets, more or less.formed
- SP500 up a solid 27% Y1
Gold down reasonably -3% Y1
Bitcoin up and down 50% Y1
iFLation HedGE how?!grafician - < Most think it will be down to $30K or even lower by Summer 2022 (depending on how much Tether prints this year ofc)grafician
- Inflation hedge = unlike $£€¥, limited mineable supply + many lost = very few available = one can only go up in price long termshapesalad
- the only thing that devalues btc is another technology replacing it, SOL, ETH etc.shapesalad
- currently network effect is overall - past the vol - pushing price gradually up.shapesalad
- if the exponnential growth fails the ponzi cracks to nuffin... tether might to the rest... and kaboom ..nearly worthless.neverscared
- Yup. It's "value" is purely supply/demand/specul... There's very little use. The dollar will not go to zero, btc can do that in a day.formed
- BTC actually went to $8K on a flash crash a few months ago :)grafician
- https://finance.yaho…grafician
- It's interesting to see certain peoples total obsessions with certain topics.colab
- i agree very interesting...also very interesting to see the greed of certain people and not carying about ecological damage.neverscared
- the pathetic obsessions with getting rich fast without dealing with consequences is a mindblowing sick thing.neverscared
- shapesalad1
$1m gold vs $1m Bitcoin:
- Gold is just shinny metal, money is just paper, i do not see a difference.ApeRobot
- You don't see a difference between metal and paper?
Magnets, how do they work?palimpsest - This pile has to be more than $1Bspl33nidoru
- lol, sure thats one million... retarted level comparison place number 1.neverscared
- Yeah, each one of those (if they’re 1kg) is around US$60k, so $1B is closer to the markhardhat
- @ApeRobot you can use gold for a lot of things. but yo can't use that address without the network that supports it.sted
- I invest in gold because I'ma get a gold grill for example.palimpsest
- you need one of both to be wealthy. at $2m you reach independence.uan
- Gold gonna go up this year, btc gonna go down.formed
- Crypto can't exist without gold.sted
- Crypto can't exist without some people's interest to maintain it. Gold is a chemical element, it relies on nothingdrgs
- Btw, can you build PC circuits without gold?drgs
- no, there are some experiments to replace gold but those are still in development phase. in some areas it is close to impossible to replace like space exp.sted
- hardhat, you're way off each one of those is 400oz or 12.5kg so it's closer to $1m per brick. and there's probably 4-5000 bricks there_niko
- I picked up gold coinspinkfloyd
- Crypto is much easier to steal and then vanish into thin air.utopian
- I wouldn't say so...crypto keeps a constant trace in the blockchain. gold on the other side can just be melted and sold.uan
- $1m in fiat...even easier, no need for either a room full of metal blocks or memorize a secret code.yuekit
- Hard to count, but if those are $60k bricks that's about 23 wide x 15 tall x 10 deep so over $200m and then a few more dollars on the side.garbage
- Let’s say you live in a dictatorship and you want to escape to a better country, which will be easier to move/send. The gold or a crypto?shapesalad
- One of those has been made illegal to own. Can you guess which?shapesalad
- isn't that just a myth?sted
- The prohibition on gold ownership in the US was relaxed in 1964, and finally rescinded in 1977 when Gerald Ford signed proclamation Pub.L. 93-373.sted
- shapesalad you are an epic boomer :Dsted
- anyway... what you are looking at here is technology. Remember those VHS and tapes and CD's and newspapers... replaced with tech. Same thing here.shapesalad
- https://en.wikipedia… not a myth.shapesalad
- its different because you can't exchange cds and vhs tapes for food. also money is a product of trust, it is very difficult to achieve the level of truststed
- what gold or USD has. it takes generations, and since the supporting technology is rapidly changing the future of these kind of cryptocurrenciessted
- is highly questionable.sted
- @shape It's a little bit more complex than that, because last I checked you can't pirate and duplicate a gold standard.garbage
- @ _niko I *thought* they were probably bigger (1kg blocks are pretty small), but was hard to say. I always wanted a “block” but realized how expensive it ishardhat
- Gold is God's money. It's been around the longest.pinkfloyd
- it was silver before gold.uan
- @sted, money = trust you say. Welcome to crypto, where it's trustless. Meaning you don't need to rely on trusting a 3rd party to honour the value and exchangeshapesalad
- of your work, your energy and your time. That's the beauty of BTC. It's a pristine asset. Where as the USD $, you are 100% trusting the FED to honour the value.shapesalad
- Yet the FED just printed an unimaginable amount of money, immediately devaluing those $'s you hold and breaking the trust you place in it.shapesalad
- All it takes is for a massive amount of gold to be found on an asteroid floating past earth for all the gold on earth to immediately devalue.shapesalad
- after china etc grab it and mine it.shapesalad
- the new greed is optically less shiny , but we all have to breath in its toxic output.neverscared
- a quick count and multiplying says there are at least 3500 gold bars there.sarahfailin
- grafician-15
13 years going, still not solving any real problems, just mindless speculation
- and there the next bubble began...formed
- made a lot of people very richmonospaced
- Who? Not even the founder got paid
Worst ponzi in historygrafician - made alot of people rich.... donald trump couldn´t have said it better.neverscared
- highly likely kills more people than enriching https://www.theguard…neverscared
- neverscared0
Some statistics to start the year:
During 2021 Bitcoin consumed 134 TWh in total, which is comparable to the electrical energy consumed by a country like Argentina.
Related CO2 emissions were ~64 Mt
In 2015 the average energy use per Bitcoin transaction was already equivalent to the energy consumption of a U.S. household over 1.5 days.
The same metric has gone up 50 times since. The energy used for a single BTC transaction could power a U.S. household for almost 2.5 months.
- Now let's compare it to how much energy has been used last year by the USA, the russian and the chinese militaries.shapesalad
- You know.. those armies used to defend the sovereign wealth of a fiat value system. Imagine if we went borderless and bankless, how much energy that would save.shapesalad
- don´t look up ...right on the planet surface so close.neverscared
- fuck the military... you couldnt have come up with a more idiotic comparrison could u ? embarrising what u have to pull out to self justifiy.. just admit youneverscared
- dont give a flying fuck about nature... flippin cowards.neverscared
- @shapesalad mate you're regurgitating exactly the bullshit crypto bros spew day in day out all over twitter
All those "arguments" were disproven long agografician - "Imagine if we went borderless and bankless" https://newrepublic.…jonny_quest_lives
- That's a great artocle Jonny, thanks! One might wonder how well shapesalad's beloved Taiwan might fare without the systems he rails against...Nairn
- Salarrue1
Bitcoin: Who owns it, who mines it, who’s breaking the law
https://mitsloan.mit.edu/ideas-m…- "Bitcoin ownership is concentrated among the rich." unlike all those gold bars and fiat currencies?shapesalad
- ^so it's in no way decentralised, a hedge for inflation, useful as a currency and all the other "promises" it carried so far?
Shockinggrafician - Read somewhere 4% users hold more than 90% of BTC so yeah, it's useless for the regular folkgrafician
- concentration of wealth ≠ centralized currencymonospaced
- Krassy1
so why is it tanking today?
- Kazakhstan.
Dip buying time.shapesalad - what up with Kazakhstan?Krassy
- https://www.reuters.…shapesalad
- they mine 18% btc. mine = record transactions on blockchain.shapesalad
- it tanked because the feds slowed down on buyingpinkfloyd
- Kazakhstan.
- uan0
@drgs...what do you think...looks like it will turn soon.
- I stopped making these because they were bearish... These are from 1 week ago:
https://imgur.com/a/…
Maybe I was wrongdrgs - Its the same graphs except I draw a line through the densest/darkest pointsdrgs
- nr.2 is the only scary one...all the others say it's save to get some at around now. or even wait bit more and see if nr.2 got it right.uan
- Update
https://imgur.com/a/…drgs
- I stopped making these because they were bearish... These are from 1 week ago:
- jonny_quest_lives0
Maybe this site isn't accurate or there's a more accurate data set somewhere but I don't see this Kazakhstan hashrate drop all the coin boys keep spewing on Twitter. https://www.blockchain.com/chart…
- drgs2
SPX (orange) dropped 40 mins before BTC, just a reminder what we're really trading here
Bitcoin is SPX's shitcoin, basically, disgusting
- neverscared-1
https://fortune.com/2022/01/05/c…
China’s crackdown on Bitcoin mining last year, culminating in a full ban in September, unleashed a diaspora of producers seeking new homes. Many flocked to green sources in the Nordic nations, while others tapped coal and natural gas in Kazakhstan, Iran, Kosovo, and tiny Abkhazia; by last fall, more than one-quarter of all of the signature currency’s coins were being minted in Kazakstan and Iran alone.
- Bitcoin mining is being banned in countries across the globe—and threatening the future of cryptoneverscared
- why is there so much mining in anti-democratic states ?neverscared
- Bukele is going down the path of every wannabe trader.
First he bought the top.
Then he went all-in on a small dip.
Then he bragged about being up 5% on hisneverscared - dip buying. And now that he's rekt, he's trying to borrow silly amounts of money to go all-in again and try to break even.neverscared
- Democracy has nothing to do with rampant capitalism. This is the beauty of a decentralized currency. Which of course Bitcoin is.monospaced
- ;)monospaced
- funny how undemocratic states just happen to have ample natural resources that bitcoin mining requires. i'm sure that's not at all backwardskingsteven
- yes, maybe but the power structures insde crypto would reflect the centralized powerstructers of near or full dictatorship centraliszation of course ;)neverscared
- still there must be more to it... a lot of stuff is moving to texas right ? texas is pretty super duper conservative... and the mining seems to find a nice homeneverscared
- there... https://inthesetimes…neverscared
- like the doge coin owner said: "Despite claims of 'decentralization', the cryptocurrency industry is controlled by a powerful cartel of wealthy figures,"neverscared
- https://www.cnet.com…neverscared
- Iceland not banning it, and it's all being thermo powered there = eco fri end leeshapesalad
- do u have a link to substantiate that claim ? coz all i can find is the opposite... no new ressources for mining in iceland ?neverscared
- considering that "powerful cartel of wealthy figures" cannot, will not and has never stopped anyone from mining, I think that's a whole load of bullshitmonospaced
- IF a single entity controlled all mining and the amount in circulation it would be centralized. until then, it's just a false equivalency and misunderstandingmonospaced
- Once again, concentrated wealth ≠ centralized currency. It's a prerequisite in the purest form of the definition.monospaced
- lol, ok, clearly you know better and are much smarter than the guy who is deep inside the crytpo industry ...lol, i guess they are called power full becauseneverscared
- they can ... the hardware superiority power of them has clearly trickled not down to your understand of centralized power. Incredible how u know these thingsneverscared
- lets fuck up the expert is your move... i get it.neverscared
- central station is called central station ... because a lion share of trains leave from there... 0.01% controll 27% , 1% control 50% . that what u call centralneverscared
- 500 trains leave from one station... 500 others from 99 others... if u dont understand central u clearly know not a lot about topological thinking.neverscared
- your single entity argument is as dumb as it gets defining central.... actually wtf ..neverscared
- your argument that an analogy to a train station is better than the ACTUAL meaning of centralized banking is ridiculousmonospaced
- I'm simply talking about decentralized currency in the context of how that word is used for bitcoin. You can't change the defintion and contextmonospaced
- its not ridiculous at all.. it illustrates perfectly the quantities of power .. in a hands o few powerful... powerfull cluster of points become on cluster if uneverscared
- zoom out our in.. basic of topology mathematics and optics.neverscared
- evidently your narrow understanding of centralized power is in the realm of trump . by the numbers FIAT reality is 100 times more decentralized than bitcoin.neverscared
- to formulate it that u understand the problematic... a tech that is decentralised in its technologic structure is 100x times more centralized in Powerstructure.neverscared
- and a tiny tiny few havin so much power in a decentral system, makes the decentral worthless, the powerfull control the high amount of decentral hotspots akaneverscared
- bitcoin oligarchy.neverscared
- NBQ00-2
Aurevoir
- If Bitcoin can drop this far in a disinflationary environment, it’s definitely going below $10k when deflation arrives.neverscared
- if you scroll https://coinmarketca… right now it's like a random number generator spitting random numbers everywhere on the pagegrafician
- the session last week from the Fed is kicking in..inflation is gettin stronger, stuff is getting tight ... selling is on..neverscared
- grafician-5
Crypto bros: Bitcoin is decentralised, nobody can stop it, the future, super useful for poor people in 3rd world countries to fight their oppressors and corrupt governments!
Kazakhstan's president: Cut their internet!
Bitcoin: *goes bye bye*
- drgs8
- Have you ever realized that your charts indicators and predictions never work? :)NBQ00
- lolsted
- damn that made me laugh :))sted
- 2022 nuclear winter :)sted
- The long term ones kind of work, from one month ago:
https://www.qbn.com/…drgs - I base all my buying and sell decisions on this charts! worked great last year.uan
- the timing is the only thing that doesn't work,...I just do a visual pattern comparison and use it like a trend, not hard data.uan
- https://i.imgur.com/…palimpsest
- trying to understand technical analysis, came to the conclusion it's like astrology or any other pattern recognition thing works also. So i took drgs' charts.uan
- Dont take them literally, like uan says.
I think we bounce from just below 40k, something like 39kdrgs - Buy low, sell high.palimpsest
- https://i.imgur.com/…drgs
- I started balding a few years ago until I got started on those charts, now I have a full head of hair and I can get laid again, thanks drgs!GuyFawkes
- Perhaps it's a good time to buy soon.Chimp
- You aren't listening, never buy when its good. Only buy when you feel like shit, get high when selling it.sted
- *this is not a financial advicested
