The only thing in a bubble is fiat dollars.
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The US Dollar "backed by the FDIC". HAHAHAHAHHAAHA!
No, they just print more. Its not "insurance".
Imagine if the world reserve currency were famous paintings. Would it be "insurance" if any loss were replaced by a new copy?
Dollars have 'less' intrinsic value than sand. We can never make more sand if we run out of it.
Insurance? Nah, more like assurance. Of devaluation.
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The 100-day moving average is 13.50$.
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Professional FUD.
Enough said.
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the price of btc has very little to do with how much it cost to make them... its all about supply and demand. its like gold and steal... doesn't cost more to mine gold, but gold is more valuable cuz there is less of it and lots of people want it....
You're just guessing now. Iron ore sells for around 113$ US per tonne, and 1/3 of that ore is converted to steel. The cost of mining gold is around $300 per ounce, and on average maybe 3 tons of ore are required to get one ounce. The mining costs for gold are obviously MUCH higher because you've got to move much much more ore to get any metal. So I would also imagine that your speculation in the link between the cost of mining bitcoin versus their price, to be also a guess. IE wrong. |
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Wow, I am honestly surprised that I made that predicition so early during June.
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Who was right in the end? Who had the guts to go out and tell everyone that bitcoins are not worth their current value and much less.
This is the end? So, you're bullish at 8$. When I was looking into mining during the jump to $30, when it was profitable
You were never going to mine, neither did you research it. You have one post in your history about mining. |
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my vote goes to mumble too.
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This guy is 100% plant. He just joined forum on june 09. This is his 1ST POST: Please link me if there is another post like this.
I was thinking of building a mining rig and need recommendations on the parts. I want to know the best bang for the buck. I will buy used only if it is easy to buy the components used and quickly. If you can send Newegg links for the recommended parts that would be great also.
Please list if it is better to go with 2 3 or 4 video cards, or 2 separate computers with 2 video cards each.
Its a bullshit post. He's a paid shill. If you read between the lines, you can tell he knows exactly the answers to his questions. Then his 2nd post his SECOND POST!!!! he starts trashing bitcoin, THE NEXT DAY, after talking about building a mining rig. Every friggin' post, he trashes it up and down. NO EXECPTIONS! He doesn't mention building a mining rig again!!! And pure negative BS from that moment on, before any of the bad bitcoin mishaps started happening (except for the drop from $30). I agree there will be a correction in the price. I think there are many more new coins coming into the market then speculators or people who need the currency will buy. When the price stagnates for a few days people will try and take some profits.
For the people who own thousands of these coins, they were crazy if they did not sell some of their bitcoins when the price was over $30.
I think the bitcoin has potential, but the prices are just far too high with so many coins out there, and the risk of someone so easily dumping all their coins.
DISINFO AGENT. And you know if there's one, there's a hundred. |
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It isn't even funny anymore watching you guys lose money. Even after all the flamming and troll calling you have done.
I bet U wanted to be a miner and missed out, so you're bitter. |
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There is no 'never' option because it doesn't make sense if you know one bit about history. Empires rise and fall, nothing lasts forever. Of course it could be way after 2025 that it collapses. And it will always be due to an unexpected event, not some artificial accounting construct like a debt limit (though it could set things in motion).
Look up the history of the Denarius and Antoninianus, two of the most common Roman coins. The Denarius was issued around 269 BC and was 100% silver weighing 6.8 grams. By the 3rd century AD, had been debased to a smaller bronze strike with no silver content at all. Most other Roman coins that were introduced with silver content were debased as well. The devaluing of currency is definitively (though indirectly) correlated with the failure of empires. The US dollar has been debased in value more than 95% in just 100 years. The Roman empire reigned for 500 years before reaching that level of inflation. |
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"Bruce Wagner, voice of bitcoin".
Bitcoin is an open source collaboration.
Bruce Wagner is the voice of Bruce Wagner. Bitcoin is not his project.
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And only a fool would think the collapse of the largest economy in the world would not pull everyone else down with them.
Yes, it probably will. |
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lol - US Government isn't going anywhere, you'd be a fool to think it's going to end.
Only a fool thinks you can't keep printing money without consequences. |
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You should have a "Beyond 2025" question. I don't think it's going anywhere anytime soon.
Really? You think someone will prop them up from under the tidal wave of debt, please speculate on how that happens. That's IF Americans don't take them on in direct confrontation first. The Fed is spitting in the face of the average American, that's not a sustainable governance. |
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That said, the poster may be right. I was ready to signa contract for a larger data center installation for bitcoin mining and just called it off - the numbers did not work, not the least because pretty much everyone on the other side of the game decided to demand more money. Too much risk, too high price. Especially with the rent up. I expect quite a lot of people will loose their guts at one point - not everone pays 15 US cents or lower, some pay significantly more and for the mmining is less and less efficient.
So mining is no longer super profitable. That's not news to most of us. |
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People tend to buy (long term) deflationary commodities in times of crisis.
Just look at gold, it's as if it's price has no ceiling. The long and short term highs have constantly been broken for ages.
what can't go on forever, won't. Gold will continue to appreciate versus paper until the presses shut off. Then it will be restructured (devalued) according to whatever new fiat currency will replace the dollar, probably a world currency. |
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