I think theres no long term effect on Bitcoin at all,
Most of them couldn't be seen as competitors because most of them would just end up dead or worthless.
There are already tons of alt-coins I think the only effect it has is they bring new investors in crypto somehow.
We all know that no altcoin can compete with bitcoin, however I really think altcoins have the effect of slowing down bitcoin and if anything I think they have been the main culprit that bitcoin is not widely adopted yet, after all governments are going to try the same tactic by creating their own coins and claiming their coins are better than bitcoin because those coins are going to have the government behind, so while over the long term most coins will disappear the effect they have over bitcoin is real for me. I see your point and it's already been done by China, creating their own versions of crypto then banning crypto mining from their place to bring pressure to their people, alts as we know it, being created to support bitcoin and offer different approach where they've think bitcoin is missing. But for those true crypto followers bitcoin will continue to dominate this market. Japan was the first Government I believe to fully adopt the use of a crypto currency as "their own" in MONA. Its interesting that still today 99% of altcoins will still fall to the effects of BTC price and can not break out on their own trading patterns. |
|
|
|
Just as people moved from gasoline powered cars to electric will investors also move from bitcoin to ecofriendly alts?
If you talk about other alts based on pos or some other algorithm then it work as more centralized base system to the rich and superior ones and if you wish to invest in them then nobody's gonna stop you but don't ask for Bitcoin like security. Did this energy consumption has increased suddenly after the Musk comments and some government statement? The miners need to put more effort to mine block with increasing difficulty and providing security to the network. Many mining pools are finding alternative ways to mine Bitcoin using renewable sources because electric consumption also reduces their profitability. They are reluctant to find some alternates for this. But one thing is for sure Bitcoin is not going to be dead inspite of many FUD in the market like in the past. I did invest in many alts, DASH,LTC,ETH, MONA XMR + BTC and physical BTC Casascius pre $500. I've had the concern over POW mining since then, its only come to mainstream attention after Musk now that he has the worlds attention. Another celebrity type mentioned it in 2016/17 when he moved a mining operation to Washington state but many didn't listen to him as some think he is nuts anyway lol. But that was John McAfee, he is currently facing federal charges for falsely promoting cryptocurrency through his twitter account while his buds sold it. I dont think BTC will ever die either however I can envision it loosing market dominance down to 10% in the next ten years. the fall of bitcoin was due to energy problems, in my opinion it was just a gimmick,, all of it was just a trick of billionaires to scare beginners, in order to collect bitcoins, once a year bitcoin there must be a price drop, why when bitcoin falls everyone posts negative things about bitcoin,, why when the price starts to stabilize everyone is silent, and enjoys what they get.. stop saying bitcoin is falling in price because of energy..
over $500 Billion left the market that was more than just beginners  |
|
|
|
From my knowledge during my short time here anacs has been the worst option to send crypto coins to for a few reasons(slabs dont fit snug in cases, coins reversed in slabs, super slow turn around time, and inaccuracies in grades) to name a few ive heard of. Icg in florida has been a perfect option for grading in my experiences
NGC at one time said they were going to start slabbing crypto tokens but I never heard an update. As far as time I just got a batch back in two parts of non crypto, 2 weeks for standard service at $38 and three months for economy at $22 Was just about to submit a batch to ANACS.
Printed out the form and noticed this zinger.....
Interesting as the last batch was sent less than a month ago.
Have not contacted them to investigate any further.
Thanks, Lets us know what you find out |
|
|
|
I do think also that this is now the end of bull season, the massive price dumped and also the weakened of the resistance of the crypto token in the market crashed just showed all over. But what is good about this time market crashed is that the bitcoins price didn't dumped in as low as $30k and the ethereum price became stabilize in $2k. This is just so good market dropped for me if i were going to compare from 2018 crypto market crashed.
The market today is very different from the previous year because so far the market price is still stable, from observations a few days ago it has stabilized $34k- $37k and I hope the market will be pumped up in the near future. I consider stability 34k to 37k in a period of six months, that's pretty much a 8% swing |
|
|
|
I present to you, my friends, A Monday Morning Long post after getting all coffeed up...
[snip]
Excellent post, merited. I only have one small nit to pick, this part, commonly misunderstood from Manfred Mann's, 'Blinded by the Light':
Wrapping Up (like a deuce, another runner in the night?)
A Deuce is a nickname for a 1932 Ford, the King Daddy of hotrods for many years. The correct phrase is:
Revved up like a deuce
Another runner in the night
I have heard that story... But then, I have heard Bruce Springsteen perform it (and he actually wrote it) and sing "Cut Loose". https://www.youtube.com/watch?v=yjxbOe7p8C0Though the Manfred Mann version is way better. I always wondered what he was saying... we always thought it was douche and could not figure it out... but we were young teens lol |
|
|
|
From the recent policies introduced by some countries, it can be seen that energy shortages do affect the development and mining of Bitcoin, but this will not cause the collapse of Bitcoin, because countries like Iran have only temporarily banned them. In fact, they Still have to continue mining, and according to research shows that mining consumes very little energy, and they are mining in some areas with more hydropower energy, not only does not cause excessive energy consumption, but also makes energy distribution more reasonable.
There are already miners who make it as their business so even there are increased in energy consumption they can still sustain it provided they already have many apparatus uses in their business. Some might use solar to continuous their business. this is good to big miners but for individuals who just use their own electricity it can be a lose in their profit but not in bitcoin. With small scale miners the better option is to increase the capital investment and setup solar power/other means of sustainable energy for mining needs. During the year of 2018 myself spend around $15000 on mining, and if I've bought some cryptocurrency and kept hold of it I could've earned big by this bull market. So, I personally suggest to invest on much expected small price cryptocurrencies and leave it for years than getting into mining. Solar is great but only good for 10 hours a day and on clear days to boot. That also doesn't change the fact of the disadvantage of needing so much power for POW vs a crypto such as NANO CZ tweeted https://twitter.com/cz_binance/status/1399195759140954112 When you use electricity to run cars, it’s environmentally friendly.
When you use electricity to run the most efficient financial networks in the world, it’s an environmental concern. this tweet retweets and received likes more than his usual tweets. you can see the media that surrounds elon had not even thought of pointing electricity issues. The electric car movement was more about for every electric car there was one less gasoline air polluting vehicle on the road. Volvo is going total electric. |
|
|
|
it doesn't matter what it is there will always be haters, I would say 95% of the people I know now understand it.. even my pop has a crypto account last few years.
The crypto community is growing, in my environment there are very few people who don't believe in crypto and more than 95% are already trading. So if there are haters about btc in your neighborhood then ignore them, the more hated, the more he knows about btc, it's just that he hasn't been inspired to join the crypto community. Is that for real? 95% of the people surrounds you are investing and trading in Bitcoin > surely is? i don't know but looks like that is overstatement because even how good you lured people yet it is not enough for them to believe and entrust their hard earned money as just that. one of the reasons DOGE blasted off so well was Robin Hood accounts. I don't use it but a lot of people do as it worked its way from the stock market to crypto. From what I was told of the seven options you could buy, DOGE was one. Every person I know that traded stock the last 25 years has a crypto account now. In 2017 it was only 1 out of 40. I was the only one posting about BTC in a private discord trading room of 300 + when it was under $500.. another guy from Cali chimed in with me when it broke $600.. they finally made its own thread in the room when it broke $700 lol funny my pop and his wife got an account before my son did but he has always been an investor. My son is warry of all investing but he is getting to the point where he has money to invest. |
|
|
|
lol when you find a few thousand old nano left over after 3yrs and slap a sell up from 9-15usd and it hits, WWWHHHHHHHHHHHHHHHHHHHHEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEWWWWWWWWWWW
hahaha love it ! dude I opened a BinanceUS account about six weeks ago to play a specific coin and checked on my old Binance account from 2017 and it still had BNB in it that I had bought at .25 to .35 ... I just moved it to the new account lol it was at $380 then |
|
|
|
|
One of the best Sci Fi stories of all time and to me the best old movie of all time was "Forbidden Planet" I actually have it tied with Star Wars as my favorite movie.
This was a high budget MGM movie at the time... 1958 or so it introduced Robbie The Robot, you will see a young Leslie Nielsen and the hot babe of the time. It was the first color Sci Fi movie. When it was over you say to yourself "That's where they got that from" as there must be 10 movies that branched off this story including episodes of Star Trek.
I would definitely NOT go read up on it as they will ruin the whole movie just in the story line. The best part about the movie is you don't know the end.
I had always had that as a top story along with BattleStar Gallactica story an in Barns and Noble one day my son saw a book called the "100 best sci fi movies of all time" and said "dad what did you say were your favorite Movies'?" I told him, and there they were # 1 and #2 in the book
I suggest watching it late at night in a dark room lol
|
|
|
|
this market feels like its just waiting on another article to tank it 10%
It certainly ain't in the chart at the moment. that's the thing about charts they just show the past, one bad PR and the whole markets freaks |
|
|
|
|
it doesn't matter what it is there will always be haters, I would say 95% of the people I know now understand it.. even my pop has a crypto account last few years.
|
|
|
|
|
this market feels like its just waiting on another article to tank it 10%
|
|
|
|
|
awesome I caught one ! good luck all
|
|
|
|
|
Beautiful and clever ! Reminds me a little of the air bender too, so cool thanks for sharing !
|
|
|
|
After the recent bleak market. Many people do not even understand the basic principles of Bitcoin and blockchain knowledge, so they attack Bitcoin. What kind of mental state is this?
This is exactly how Nuclear energy feels  |
|
|
|
you need to go back and read the conversation so you know what we are talking about.
In a nut shell, I could care less about what an individual says but more in how people react. If the consumer can use XYZ coin ( a very low power consuming POS) and achieve the same function, security and even better speed than High energy consuming POW BTC, then why not use XYZ
Every trader wants profits and their best bet is btc because they know how hard it has become for miners to mine it. They are keeping its price high because of the resources being used to mine it, making a direct correlation between consumption of resources to mine a btc and its present value. Now, when talking about security, none of the PoS coins in my views can beat the security of btc, please draw me to one which can and I will think of changing my portfolio from btc to that xyz coin. If such a thing would exist, it would have taken over btc already. Every node validates a transaction making it more difficult for a hacker to break the chain and move that transaction his way. I agree that the speed of btc may be less if compared to so many altcoins there, but we still use it because we know the value it has given to crypto and is still adding it with its mining. And when all the alts (your PoS coins included) are created to provide the nearly same functions that btc gives, I would twist and turn your question and ask you: why not to use btc over them when they are only copying what btc did years ago? In the end, it is all about choosing the right coin and if btc is my right coin, I will go for it and you may go for your PoS coin. great points exactly what I was looking for in these conversations. What had me worried about BTC was what price does it have to hold to be profitable currently and after the next halving. At what point would a miner say my electric cost are to high to sustain a profit. If you supplement with solar you have increased your cost. right now it looks like 40% of revenue goes toward electricity cost. https://www.coinwarz.com/mining/bitcoin/calculator?h=110.00&p=3250.00&pc=0.17&pf=0.00&d=21434395961349.00000000&r=6.25000000&er=1&btcer=47197.18580000&ha=TH&hc=2407.00&hs=0&hq=1Monero seems to be pretty secure also with a $625k reward to break its code but I don't see it as a better option than BTC either. https://currency.com/the-most-secure-cryptocurrencyso strictly as an investment I think Harmony, Nano, Helium and ALGO will have a higher percentage gain than BTC in the next six months, BTC defiantly has proven endurance on its side. |
|
|
|
I just got back from seeing a friend. He's been in and out of Bitcoin since 2017 (lost money of course). Did the usual what about these shitcoins thing, which I dismissed as well as I could. Anyway he said he has been trying to withdraw as much equity from his home as he can for the last several weeks. Should get it in a week or 2. He then says he was going to buy bitcoin with it when it was in the 50s and now he's really glad that it fell because he's going to be able to buy much more.
He agreed with me that holding was the way, lessons from past sales learnt.
Foolish, I will say though that if you are in your 20's go for it lol... you can recover from losses in your early years and learn a lesson, not in your later years (50 +) someone bought at $60k +, wonder how they are feeling right now First of all, your reading comprehension skills seem to suck, Gatorelf - especially to believe that you are understanding the age of the bitcoin buyer because the word "50s" was used in the post... but hey, maybe that is just a minor point.
Let me clarify your misunderstanding, I am speaking in general when someone takes the equity out of their home that's fine great to use for whatever is needed. I just think its foolish to put it all in a crypto currency. If the investor is 50 years old or older there is no fool like an old fool.
|
|
|
|
Energy? usage? Billions are spent on useless energy projects every month in the world. Think about the local automobile dealership, they run lights all night long, parking lot lights, lights inside, they have computers that stay on 24 hours a day. No one every worries about how much energy they use. Consider this, Large companies that melt aluminum and other large industries expend huge amounts of energy to produce something as novel as aluminum foil. Anyone worried about that? No this is not about energy at all. Musk is an idiot, if you want to know what this is all about, just think about the bigger picture. Why are they suddenly so concerned with energy? No its about banking and finance, they do not like the idea that anyone can access banking and finance with sophisticated crypto financial products. It is a power they have controlled for centuries. No one is really concerned with energy use, because Visa and Mastercard, process billions of transactions which are no different than the transactions processed by mining bitcoin. In fact visa and mastercard consume 30 times more energy than bitcoin and other crypto currency combined. Just understand that the idea that bitcoin is causing global warming is BULL... These are the same people that want to save the whales, but never really do save them, they want to they just can't do it because it was never under their control in the first place. This is emotion over intellect, which is why I say that if Musk really believes that global warming is caused by bitcoin then he is truly stupid.
you agree with me then, the masses are going to do what they want to do regardless of the engineering and endless debates. An Electrical Engineer argued with me for 10 years as to why Tesla would never make it. He had all the numbers and figures and never invested a dime at $24 a share. He is still eating crow today because no matter what he thought, the masses started a movement into electric vehicles verses Gasoline. So if the consumer wants to use NANO for example instead of BTC because it uses very little power there is nothing to stop them. |
|
|
|
|
Show Posts
