Bitcoin Forum

I thought that this short(ish) video covered some interesting points, The thread title is just one of the truisms in it.
https://www.youtube.com/watch?v=bOSjnDDXVBs

Far more interesting is the interview with the founder and CEO of Twitter and Square, where he states that Bitcoin will be the currency of the Internet. Also, I noticed that the video poster is accepting tips via Lightning, and this is something that I think other content producers should be considering.

Nothing goes up in life, dollar value, salary, income, food price, smart phone price, everything going down. The doomsday is near.

Matt fu*king Damon everywhere xD
Enjoyed this video, worth a watch for sure. I think that we are already there m8. Bitcoin IS a currency of the internet.
For me it was like that since, idk 2 years(?). All I want to buy is already available to get with my coin so...

This guy seems to have greater than average knowledge on crypto, that's why he uses Lightning.
Other content creators will follow shortly, as soon as they will get the memo on fees with and without Lightning.
Adoption, adoption and one more time adoption. It will happen spontaneously but we can speed up this process, informing our favourite creators about it is the key.

The price... good thing he is avoiding speculation, so am I. Waste of time and brain power.    

many things are going up: prices, inflation, retirement age
the doomsday is near indeed, but bitcoin price going down is not something unpredicatble
we have been in a bear trend for months, can't see it changing in the near future

The prices of food,smartphones,etc. are going up because the US dollar value is going down. ;D
I can't agree with the statement in the thread's title.The price of bitcoin does down because the btc buyers are less and the btc sellers are more.That's the real reason.We don't need a crypto "guru" to tell us this shit. ;D

Well he also says that the reason the price goes up is because the price is going up.

The other truism I like is " It has been proven scientifically that people who have more birthdays live longer "

Of course, all the economic values ​​in the world are falling. Stock markets, gold, USD and bitcoin have declines. Hopefully soon start the ascension bitcoin..

It is not a situation only for bitcoin but for many markets but when considering bitcoin's past the market has started to recover and progress and it should be because few years back bitcoin was just a trading asset for traders and investors who used to make quick money and nothing productive was done using it but now if you search the internet there are many options and facilities to use or pay using bitcoin and that is strong evidence that bitcoin is going on a successful path and if investors are smart they should understand this is the best time to invest to make profits

Very nice presentation, so long as those who trade in the market, they think that the prices of Bitcoin will rise very soon, but this is not the biggest reason that everyone who is involved with Bitcoin is not one of the reasons why everyone does not want Bitcoin prices Grow so fast, but it is true that it will never disappear

I saw the video, that was pretty good the CEO of Twitter supported bitcoin and looking forward what the fundamental of Bitcoin is. He mentioned also that to shut down trading, yes probably he was right. Most likely happen of a scam now is on the trading exchange a lot of news of that and the latest one is Cryptopia exchange hacked.

The price is going up because the price is going up, (Bitcoin have massive adoption and continue spreading). The price of Bitcoin is going down because the price is going down, ( Do panic selling because they want to cut their losses). That's the hardest thing to understand to those people who didn't crypto enthusiasts, greedy people they all quick profit they didn't care about Bitcoin. Yeah, it must be the currency of the internet is Bitcoin.

Yeah, If anything happens, it happens in all but Bitcoin has done the same thing, bad news and wrong decision many people do many things, but due to these mistakes all others have to pay, but it is hoped that if the scam is closed Everything will become normal.

What struck me the most about the video is he showed the part of Joe Rogan skit with Jack Dorsey and Rogan ask if he is considering other cryptos besides Bitcoin, Dorsey simply said "not right now" followed by him stating that he believes Bitcoin will be the native internet currency in the future. If this Cash App becomes successful on introducing normal people to the crypto world through Bitcoin I think this will be a huge leap for the crypto industry itself. Jack Dorsey is really showing support to the industry by introducing Bitcoin through his cash app.

The price is going down because not enough real money is being put into it.  I wonder why not.

It's matt with Arnold's accent :D

He's far too emotional for my taste. Some of his videos are "oh no Bitcoin is falling" and some are "bitcoin is pumping hell yea!" I can't stand people who are so focussed on short-term fiat value. This week I didn't even check the price at all and it felt great.



This is an interesting feature of bitcoin. Even when there's the same number of buyers and sellers the price will go down because of constantly increasing supply. So, if you see a period of stability you can be happy, because it means more people are buying.

The above is now my new signature. Awesome, dude!

all prices are currently decreasing so drastically, what is an obstacle for us is that prices are getting lower. but even though prices will go down but I still believe that developments will occur in the future

Not really, the price of the food is increasing yearly because of the inflation and if there’s a crisis every price will rise and people will panic. But in bitcoin, it seems like the price was already stable on its current level, no more bad news hopefully so we can start to grow again.

High volatility on bitcoin's prices are really depends on market situations right now, based on supply and demand really matters that's why it keep changing from time to time. Nothing to panic when there are drastic changes because bitcoin has already established a great foundation towards the future of payment system and adaptions are in progress.

i know you love your satire, but even you been round long enough to know of the dynamics of the market:mining

people want to find the cheapest way to obtain bitcoin. either on the market or by mining it.
when its cheap to mine it, the price goes down becasue people mine it, and if profitable they sell some on the market.
when its expensive to mine it, people buy it and the price goes up

even hal finney knew this back in his day, and it still applies today
yes there is also a speculation layer that plays out temporary changes. but the general long term view of the market:mining dynamic applies

thats why i am not into trent anals that just look at the market price and dont understand the underlying layers of what bitcoin is and utility/function/technology that builds up its value. by saying the price only moves because the price moves is basically saying bitcoin is backed/utilitised by nothing

Sounds like some pretty heavy duty technical analysis to me (this is the essence of TA: if BTC goes up to this level, that means its going up; if BTC goes down to that level, that means its going down).

https://i.imgur.com/VXYGDhC.jpg

Bitcoin's price is directly influenced by the demand and offering. As demand decreased a lot compared with late 2017 it was normal to see the correction from 2018.

However, when demand will increase, don't forget that btc's supply is very limited, so the price might go up easily.

I don't know how you can continue to believe in this dynamic. It seems like something out of 2011-12. First of all, most people can't just suddenly decide to take up bitcoin mining. The general public is reliant upon miners who are deeply invested in it and in it for the long term. Second of all, the price has been consistently lower than the average cost to mine it for quite some time now. Most mining operations have been taking a loss for months. BTC isn't going to magically rise because of what's going on with the miners.

https://www.chepicap.com/en/news/4275/the-cost-of-mining-bitcoin-has-overtaken-the-profit.html

If your assertion was correct, BTC would be back above $5,000 by now.

1. is not a sudden reaction..
2. the UNDERLYING VALUE is not the same as PRICE
3. the mining dynamic is not a predictor of ATH or sudden movements daily.
4. the cost of mining/overtaken profit link just reading the links wording suggests they have no clue*
5. might be worth you going deper and researching beyond high school level stuff

*i clicked the link and seen data of 2018. and yet if you compare it to 2019 its actually cheaper to mine in january than it is to min in september 2018.. so might be worth you updating your sources.
tip. not only did hashrate drop in october..(lower electric) but as of christmas, new EFFICIENT miners were released which even further dropped the cost.

I still don't know how you can continue to push this narrative after being wrong for so many months in a row.


Yeah I guess not because it hasn't happened in 4 months.


Has nothing to do with this discussion.


OK I agree.


There's several stories that all come to the same conclusion, because its a very real phenomenon. I understand mining costs vary tremendously from region to region but we're talking about a mass average here.


You're an asshole. What makes it worse is the fact that you're wrong.

well you just continue looking at chart data and think thats all you ned to look at.
while smarter people look at real causations and real events.

but i do find it funny how you made a meme that trend anals(TA) but then you flip flop to then think the price is just based on price
without understanding where peoples common support levels come from

trend anals that only look at the price are the foolish people that ignore technicals.
it really might be worth you looking beyond chart data

The price is going down because bitcoin cash split and diluted the community. Looking at the charts we are hovering around the bottom so it's still time to accumulate before the bull run begins

you have not done much research.
have a nice month

seeing as your comparing bitcoin to paypal shows how little you know
then by you not understanding how mining farms function shows you dont understand their 'survival' methods
you really are stuck in 2 dimensional highschool level theories

it might be worth you researching more and theorising less

Dude. I don't look at chart data, other than its quite obvious BTC was overbought near its ATH. I never said "price is just based on price." You're just pulling stuff out of your ass now.

"Smarter people look at real causations and real events."

You're looking at the wrong ones. Earlier you referenced you've been buying bits throughout last year. That's why you're so incredibly sour right now, because you're obviously sitting on a loss. So your own analysis never helped you.

This article was published today:

https://fossbytes.com/bitcoin-mining-costs-now-exceeds-its-worth-jp-morgan/


Now, instead of just attacking the source and everybody's intelligence, maybe come up with your own numbers and evidence to support them?

The idea that price correlates to mining cost is ludicrous. Well before the price sank below $4,000, you were telling everybody on this board that it would never fall below the cost of mining. You were wrong. You've been wrong for quite some time, and you're wrong now.

Edit: Furthermore, if "new miners" was the reason for the drop in price, why has the difficulty being going _down_ since October? It should be going up!

https://www.blockchain.com/charts/difficulty

Everything goes down with the dollar, the price for tortilla was $2 in 2016 and it is $2 today, it may look like the same, after including the inflation, it is actually going down in value. The same for smart phone which is priced in dollar.

The problem when I see Khaos77's post is that he didn't factor in too much on why miners even though BTC prices are low are still running their operations. He forgot to mention anything about the level of difficulty Bitcoin mining has that adjust depending on how many miners are active mining Bitcoin. Before 2019 even started the level of difficulty of Bitcoin dropped significantly at the same time BTC prices are going down which means miners now have an easier time getting a block reward, which I think will compensate to the latest price drop we have.

and also it relates to profitability. the higher the difficulty the harder it would be for a single miner with 1 ASIC to earn the same amount so less profit. depending on where they are located and how much electricity cost they have, they may give up soon or they may stay. those that give up sooner because of higher costs are the reason why difficulty drops.

it is not a general thing. not everyone has the same costs. if you mine at the heart of New York City, if bitcoin price goes to $25000 you still may not make any profit but if you are in a place with cheap electricity then even if it drops to $1000 you are still making profit.

it has nothing to do with that.

Everything was changing,i think the cause of dropping price of bitcoin is the community,they're probably a big cause of dropping the price of it,but the volume of it will be comeback and this is what i am asure,because also the holders of bitcoin they can control the price of it.

lol, what makes the price of bitcoin go down is traders who panic and don't control the panic because of bad news so the condition of the cryptocurrency price at the exchange place falls as it is today.

That's not totally accurate. Inflation keeps going up so that prices of goods are always increasing every year. And actually you mention dollar value but that has also increased over the past year as well.

What about bitcoin,the prices keep increasing every year right. ;)

Bitcoin can kill inflation that is why we need decentralization to be implemented everywhere but still people are concerning about the prices compared to USD.

Yup bitcoin keeps increasing every year, that is until 2017. Obviously last year and this year isn't living up to that trend. I think it's now time to look at the bigger picture and stop making expectations from a short term standpoint.

Water is wet because water is wet.

I read this topic and I have being pondering over it for a while. I have realize that this statement is true. The price of bitcoin is going down because the market is driven by demand . If the price is going down globally where will people have money to purchase bitcoin which will cause a high demand that will make the price to go high. Bitcoin will go up when price goes up.

No more people investing in btc so is normal down a bit,But for sure up again in next month

As the Dollar is the currency of the US, as the Euro is the currency of the EU, etc, the Bitcoin is the currency of the internet. This happened 6-8 years ago, when many people started to use the bitcoin to buy and sell goods (merchandise) from different countries. PayPal is better than bitcoin today, but paying with PayPal you pay in Euros and Dollars.
Bitcoin is used as an alternate currency, it is a currency of this entire world.
 
 The price of bitcoin is going down, but every good forecast tells that the price of bitcoin will start to go up in December this year (2019).              

It is a matter of fact that not all of times are good because there are really times that the market will experience bad situations. The price of the bitcoin is still down because it following its own life cycle. The bitcoin is now in saturation part and it will become introduction part again where we can see its recovery in the market.

Grass is green because ... okay, why the fuck is grass green?

water is wet when its in liquid format. rather than solid(ice) or gas(steam) format

grass is green when it has plenty of sunlight and water. grass can be brown when it does not get satisfactory amounts of sunlight and water

saying the simple x is x because its x is simplifying things down to toddler explanation without actually explaining the how or why

Is there any special reason that you spend your coins these days, when there's a possible entry point on the market? I'm just asking this, because everywhere I see to hodl, buy and wait for the price increase?
Just curious :)

No, no special reasons behind it. Obviously it's not that I'm spending some everyday, just from time to time.
This month nothing as of yet for example.

because that bitcoin drops content that doesn't match bitcoin the number of hackers makes bitcoin and prices drop

Coins are spent cuz coins are spendable.

Q.E.D.

Holy cow, the price is now surging past 3.7K!