Bitcoin owners now partying.

a reply to: projectvxn

Absolutely agree with you 100%. This is just the start of much bigger things to come in the crypto space.

originally posted by: trollz

originally posted by: paraphi
Not bad for something that's worth nothing, except how much you are prepared to pay for one! Bitcoin is a lesson in greed.

You can pay any amount you want for bitcoin. 1 bitcoin being $46,000 doesn't mean you can only own some if you pay $46,000. You can buy 25 cents worth of it if you want. You clearly don't even have a basic understanding of what bitcoin is or how it works.
And it's not worth nothing, it's created by computational power. It costs money in order to run the hardware that creates it, which is why it's not and will never be "worth nothing".

The computing power used to create bitcoin does not give it value.

a reply to: ScepticScot

The computing power used to create bitcoin does not give it value.

This is only true to a certain extent. The costs of mining is definitely a factor in how low BTC can go in any given cycle. It's a good benchmark to start from and you can make projections based on market conditions that reliably predict price targets on a logarithmic scale.

You are correct to say that this isn't HOW bitcoin derives value. But it is a factor.

originally posted by: projectvxn
a reply to: ScepticScot

The computing power used to create bitcoin does not give it value.

This is only true to a certain extent. The costs of mining is definitely a factor in how low BTC can go in any given cycle. It's a good benchmark to start from and you can make projections based on market conditions that reliably predict price targets on a logarithmic scale.

You are correct to say that this isn't HOW bitcoin derives value. But it is a factor.

It creates a floor below which no one would process bitcoin. It doesn't actually contribute to what that value is

a reply to: TortoiseKweek

Not just crypto. The DeFi infrastructure being set up on the internet is a huge boon to the legacy finance system. Very few major institutions have held their anti-crypto stances for very long. Even institutions who once vehemently railed against BTC as "criminal money" have positions in Bitcoin and DeFi.

We're building a new economy. This stands as a prime example that wealth can be created out of thin air and that it isn't finite. That everyone everywhere really can bake their own pie.

a reply to: ScepticScot

I just said that.

a reply to: paraphi

You can buy any amount, you dont have to buy one whole coin

originally posted by: trollz
You clearly don't even have a basic understanding of what bitcoin is or how it works.

Oh, but I do.

Bitcoin is a speculators dream. Its value is what people want to pay for it, often driven by greed. I'm no crypto-denier as I have investment in the crypto space, so am fully aware of the speculative nature of it all.

Elon Musk is a canny operator. He's bought a whole bunch of Bitcoins and advertised that fact. Oh look, it has made him richer!

Any one here still watch info wars? Alex Jones had a guest on who he claimed perdicted three major run ups of bit coin. This guest is now predicting bitcoin to go to 200,000.

I wish I had the money to look into bitcoin when I first heard about it. Needed it to pay bills. I could put in around a measly $20 in stocks. What good would it do me?

Anyhow, what the guest said is bit coin out of all the crypto currencies is decentralized. There is no one ceo or overseer. The the person who made bitcoin, and put it out for thr public disappeared. Since there is no one centralized place for bit coin, and the fact it is extremely secure, the government, and banks can't touch it.

I would think at that point the only way you loose is if stocks drop, and value goes down. Then again our dollar has been loosing value, but they are trying to cover it up. We see it when we go to buy something, and find out we are buying less for more.

The other way is if the net itself goes completely down, and and never comes back up. Most people would be devistated if that happened, and wouldn't know what to do. How will they run their businesses, file their taxes, socialize with others? I could go on.

If crypto and the net is here to stay, I wouldn't mind having an online store that can accept crypto currency.

so... to get 1 bitcoin now would set you back $50,000??

Only the rich will be buying it now.... taking it out of reach for everyone else and then it will tumble.

Anyways... can you actually cash out bitcoin or do you have to spend the bitcoins as they are??

Someone somewhere got very rich off other peoples cash by the looks of it

originally posted by: CrazeeWorld777
so... to get 1 bitcoin now would set you back $50,000??

Only the rich will be buying it now.... taking it out of reach for everyone else and then it will tumble.

Anyways... can you actually cash out bitcoin or do you have to spend the bitcoins as they are??

Someone somewhere got very rich off other peoples cash by the looks of it

Did you not read the thread? Do you have zero understanding of bitcoin?

You don't need to buy whole coins, these aren't like chucky cheese tokens.

My current BTC holdings are in the range of .0 8BTC; leftover from when it was $200 a coin and I cashed out my whole coins, and used the change to buy other cryptos.

Bitcoin will go to 100,000 to 360,000 this cycle. One million next cycle.

a reply to: lordcomac

I didnt read the whole thread. I was just replying to the OP and no I don't understand bitcoin.... all i know is you/i/we put our real cash into it and then only have digital currency instead of real cash?? At least that's how I see it or can you actually cash out real money back to your bank account??

a reply to: and14263

"Bitcoin has great value in utility and scarcity."

You generate bitcoins using computing power that needs lots of power. Today's creation of bitcoins is estimated to use 75TWh of electricity per year. To put that in perspective Australia uses 261.4 TWh per year.

To think they only cost 8 cents in 2010. $20 worth would pay today US11.5 million dollars.

originally posted by: CrazeeWorld777
a reply to: lordcomac

I didnt read the whole thread. I was just replying to the OP and no I don't understand bitcoin.... all i know is you/i/we put our real cash into it and then only have digital currency instead of real cash?? At least that's how I see it or can you actually cash out real money back to your bank account??

Yes that is what the exchanges are for. In the USA if you trade Bitcoin for another crypto or currency you have to pay capital gains. So don't do day trading, just buy and hold.

Do not use your phone texting to log on to accounts. You could fall victim to SIM Swapping. They convince your phone carrier to switch over your number to another phone they control. They do a lot of damage.