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What's happening with bitcoin?

AzGeo

AzGeo

Fair winds and following seas George.. Rest Easy..
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Complex idea = bullshit ............... HA HA

Buy a race boat if you want to throw your money out the window ........... HA HA
 
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jbird

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B

BHC Vic

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Helped a buddy w his tank. Don’t think I was supposed to see this stuff but he’s doing some mining. Stuff is loud. In his office and bedroom
 
zhandfull

zhandfull

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Been kind of quiet around here on bitcoin.
Todays question is buy, hold, or sell?
What happens to the bitcoin block chain or any block chain if people and/or ompanies stop mining?
 
Waffles

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zhandfull said:
Been kind of quiet around here on bitcoin.
Todays question is buy, hold, or sell?
What happens to the bitcoin block chain or any block chain if people and/or ompanies stop mining?
Click to expand...
HODL!!!! ITS GOING TO THE MOON! [emoji573]







(It touched 7960 on bitfinex this morning btw lol)

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hallett21

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zhandfull said:
Been kind of quiet around here on bitcoin.
Todays question is buy, hold, or sell?
What happens to the bitcoin block chain or any block chain if people and/or ompanies stop mining?
Click to expand...

A lot of money moving into Ethereum
 
sirbob

sirbob

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Its been plunging - its at half its high value since the first of the year.

I haven't seen it today but it was below 8,000 in the last day or so.

https://www.wsj.com/articles/bitcoi...e-than-half-its-value-in-six-weeks-1517556514

brad22 said:
Slowly watching my early month profits going down....and down. Wonder how far it will dip before it starts skyrocketing again? I'm still on the plus side and don't plan on selling, actually wondering about putting more in?? What say ye?

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Click to expand...
 
78Southwind

78Southwind

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zhandfull said:
Been kind of quiet around here on bitcoin.
Todays question is buy, hold, or sell?
What happens to the bitcoin block chain or any block chain if people and/or ompanies stop mining?
Click to expand...

This is purely a guess so take it for what it is a "guess". I think there is a lot of FUD (mainstream news reporting the information wrong) in the market. But there is also some banking/credit tightening (banks/credit card companies are refusing to allow their customers "millennials" to purchase cryptocurrencies with their bank account/credit card), and China is having a liquidity problem. The market may get better in a month or so (after Chinese New Years) when things cool down and the Billions of dollars that China has pushed into their financial system starts circulating. I am sure there will be a big crash that weeds out all the shit coins and the real coins (backed by a large community with great innovation) will consolidate. I just don't think that this is that crash but it will happen in the future.

I currently don't really believe in Bitcoin so I don't hold any. It doesn't mean that I think it will fail, at this time it just doesn't interest me. Currently, I need to be inspired by a coin to invest in it even if it is for a lower long-term profit. However, I purchase Bitcoin to purchase other coins that I believe in for a long-term hold. In the future I may invest in GBTC but I don't like the current price above (premium) of the actual Bitcoin price. So if you believe in Bitcoin buy, just don't buy more than you want to lose. If you have put in all that you can spare to lose, then hold. If you don't know why you're investing in Bitcoin, then sell. Lastly, don't take any of this as financial advice and if you do the exact opposite of what I am doing you will probably be better off. :D

To answer the last question, about what would happen if people and or companies stop mining Bitcoin, we would actually have to know what the scenario was for them to stop mining to answer the question. If to say, China was able to ban all mining, then the mining would just move to a different location/county (so new miners would be created as the old miners left). However, as the price of Bitcoin goes down (profit for the miners) you will have those that leave but the power that it takes to mine will also go down (cost for the miners). The more miners there are, the harder it is to mine Bitcoin (your block wins). But simply, if all mining were to stop (for whatever reason) then the transactions wouldn't be verified and added to the public ledger (Bitcoin wouldn't circulate). In the future Bitcoin will be fully mined and the transaction fees will be the only income that will be generated. So in future we will either see the transaction fees go up or efficiency improve greatly. The Lightning Network will make Bitcoin more efficient but may cause it to be more regulated as well.
 
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boatnam2

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Reality is a bitch, the true players have made their dough, guys that got in early and had a load will continue to ride it down.
 
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Yellowboat

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10k less then it was a month ago. I know 2 people that have lost 7 digits in that time. both of which would not shut up about how much they were going to make. I told both, it can't last, get out why you can.
 
Carrera205

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I read a recent report that the CEO cashed out on almost 800k worth of his holdings at the beginning of this year. What's that tell you.
 
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BHC Vic

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Earlier in the thread I posted pics of my buddies ether mining servers. He’s since filled his garage and it’s a crazy amount of power and heat. He’s now looking at buildings to rent. Another buddy is going in w him and is quiting his 200k a year job. I don’t get it but whatever
 
78Southwind

78Southwind

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BHC Vic said:
Earlier in the thread I posted pics of my buddies ether mining servers. He’s since filled his garage and it’s a crazy amount of power and heat. He’s now looking at buildings to rent. Another buddy is going in w him and is quiting his 200k a year job. I don’t get it but whatever
Click to expand...

Just curious, so when ETH hard forks again is he going to mine the old chain? Currently, ETH uses Proof of Work (PoW) but the new chain will use Proof of Stake (PoS).
 
Instigator

Instigator

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Wasn't bitcoin supposed to be impervious against the markets and other currencies?
LOL
How's that working out now?
 
78Southwind

78Southwind

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Here's a pretty good article written today. It basically explains some of the fear that I had at the end of last year about Millennial's making Bitcoin purchases via Credit Cards. Like I said in my post at the end of last year, I am not picking on Millennials it's just that they are in heavy student loan debt right now and their net worth for a large portion of them is negative. Some of them are using cryptocurrencies as their savings accounts and are taking on way to much risk. It's much different, when say someone in their early 50's puts 1% of their $1,000,000 net worth ($10,000) into Bitcoin coin compared to someone in their late 20's putting $10,000 into Bitcoin that has a negative net worth. I know some will say, well the younger you are the more risk you can take and that is true when investing of course assuming after covering your basic insurance & emergency needs then assessing your risk tolerance . However, IMOP Bitcoin is not Investing it is purely Speculation.

https://seekingalpha.com/article/4143059-regulators-aside-banks-see-crypto-credit-risk
 
PaPaG

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It will be ZERO or worth a few bucks while everyone lost a majority of their investment and others that say they made bank more than likely did not...lets see some sell sheets before anyone starts spouting off how much money they made...lol...sorry had to laugh.
 
78Southwind

78Southwind

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Pretty interesting stuff, a lot of that sell side pressure was coming from the sale of some of the Mt. Gox funds.

Bitcoin Price Hit 2018 Lows Because Of $400 mln Mt.Gox Sell-Off: Reports
https://cointelegraph.com/news/bitcoin-price-hit-2018-lows-because-of-400-mln-mtgox-sell-off-reports

Mt. Gox Trustee Sell-Off Triggers Another Bitcoin Price Drop to $8,300
https://www.newsbtc.com/2018/03/09/...-major-bitcoin-price-crash-related-to-mt-gox/

So it looks like Nobuaki is going to keep crashing the market over time. Kobayashi is sitting on another $1.9 billion of the tokens and will consider offloading those too as he raises cash to distribute to Mt. Gox’s creditors.

http://fortune.com/2018/03/07/nobuaki-kobayash-sells-bitcoin/
 
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New to boating

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Yellowboat

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I always saw Bitcoin as a high risk High reward very short duration type investment. Since I did not have the desire or the time to actively check on the markets I didn't invest in it.
 
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