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I've been toying around with the mining option for about a week now here and there. Great addition to the site. Is it possible to add some stats to the mining page that includes session hashes solved and session mining income, and also total hashes solved and total mining income? Currently, the stats on the page show current session hashes solved and total mining income, which is interesting to have, but not overly useful. It would be nice to have more information and have it be reported as session hashes and session income, and then also total hashes and total income.
Also, does anyone have any ballpark stats on how many sats you could expect to earn per million hashes solved? Obviously, this won't be an exact science because of all the variables, but I'm looking for what your experiences have been so far as far as earning per/hash goes. If the reporting changes I highlighted above were implemented, it would be easier to determine what the earnings per million hash rate is.
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Hope for rich with bitcoin is real and previously a lot of men and women are in dwell television set station interviews. We need to be optimistic and there is nevertheless a good deal of hope to turn into rich if we immediately buy bitcoin.
As much as bitcoin is considered as an asset, it is still very important for anyone to understand that bitcoin is a currency and serves for transaction purposes too. The fact that the demand is increasing daily is why we are having it at this stage like this. It is necessary for us to go far more than just seeing it as an asset but the future of not being reaped of what we believe in and the future of being free from some people's manipulations. If you want to be a rich person in leaps and bounds doing no hardwork than you should be in the world of bitcoins because bitcoins are the only cryptocurrency of which the price are increasing rapidly that it will definitely help you to be a rich man. The price of many different cryptocurrencies rise and fall as fast as bitcoin; bitcoin just has first mover advantage. But on the whole, the major alts (and to a certain extent, many of the pointless alts) all track bitcoin's movements. Take a look at coinmarketcap at any given time and you'll see they're all volatile, and generally move in the same direction as btc. |
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I'm new to the Bitcoin / Cryptocurrency world, and the economics are pretty interesting.. My question is more of a large-scale economics question.
Would using Bitcoins, to purchase goods (not on this forum) or services, increase its perceived value due to wider exposure or level-out/decrease its perceived value by establishing an accepted value of it?
I hope that was clear enough. Just looking for ideas and thoughts.
It's a good question, it's nice to see someone thinking rationally about the economics of bitcoin and asking an intelligent question. I see bitcoin transactions as essentially neutral in terms of whether they create or destroy value. On the one hand, buying bitcoins to spend at a merchant creates upward pressure on the price. Once spent, however, the merchant is likely to instantly liquidate the bitcoin into USD, because bitcoin has a low utility for actual commerce. It does no good to hold a currency the vast majority of the economy doesn't accept and when the rest of the economy conducts business in USD. There's also substantial risk of losing the profit of the transaction due to bitcoin's intense volatility, so all the incentives for merchants are to exchange immediately into USD, and this puts an equal amount of downward pressure on the price. I see commerce playing a negligible role in the actual value of bitcoin, all this up and down is related primarily to speculators. |
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Billionaires are the people that they never gonna miss any opportunities to make money, so Bitcoin is the new major that they could try and trust me , Bitcoin already made many normal people becomes billionaires. So Bitcoin billionaires actually are investing much in Bitcoin and they deserved it cause they're the parts which help Bitcoin become strong like today. It's a long process to improve the position of Bitcoin to the world for now. Things are going like that with Etherum for now but Etherum is having a easier way to development cause the world arealdy accepted crypto currency even it's slowly.
Put the pipe down. Bitcoin did not make "many normal people billionaires." It's extremely unlikely bitcoin made anyone a billionaire. Bitcoin as a whole is only worth 72 billion dollars, and you think any one person has enough of it to have become a billionaire because of bitcoin? It's also unlikely that a billionaire is investing in bitcoin as an instrument. That's for the masses on this board praying to get rich quick. Billionaires didn't become rich by chasing pipe dreams, they became billionaires by building things the market values as incredibly necessary. Unsophisticated investors invest in bitcoin hoping to get rich. Sophisticated investors build the businesses that capitalize on bitcoin (exchanges, casinos, bitcoin-related businesses) without buying the underlying currency itself. See the difference? |
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Money, debt, and finance can get as complicated as you want. But they can also be stunningly simple when looked at the right way. And I like simple.
Basically, you have real wealth and financial wealth. Real wealth is made up of goods, services, infrastructure, knowledge, etc. Financial wealth is the various tickets that are claims on real wealth: money, bonds, stocks, derivatives, etc.
Over the modern centuries, top politicians and bankers have tended to issue too much financial wealth for the real wealth available. To prevent a collapse of savers' confidence in the financial wealth, power and deception are used to prop up its value. One of the favorites is somehow to keep the price of goods and services low by concentrating financial wealth. As long as not all the dollars chase goods at the same time, all the saved dollars can appear to be still valuable.
At this point, the elites can play all kinds of tricks to keep this game afloat, for a while, but ultimately, the only way to true stability is to let prices rise. When prices go up, the values of the financial wealth and real wealth will be more equal. Real faith will return to the financial wealth, and the elites can go back to issuing more of it without worry.
The only problem with inflation, though, is that the public will lose faith in state-issued money. This is the reason why the elites have tried not to resort to inflation until the last possible minute. Helicopter money hasn't come, yet.
Enter cryptocurrencies. If the elites can get the public to believe in crypto as a decentralized, limited-quantity money, then they can feel free to create inflation by issuing more money and debt: the normally embarrassing depreciation of state-issued money against non-state-issued money as a result of the inflation will be described by central banks and the media as free-market demand for a new type of money. Crypto will help limit the demand for gold and silver, whose appreciation will be embarrassing. And the state-issued money will be stable at the new 'exchange rate,' since the elites are likely buying up many bitcoins now to prepare for future suppression of Bitcoin's rise.
Imagine late 19th century central banks suddenly receiving a lot of gold from heaven, and you have almost the right picture. Just that they have to first convince the public that this is gold.
This being a perfect play for the elites, plus the many observations in support of this story in recent months and years, we really have to consider the good chance that the Great Reflation is underway as we speak.
I find parts of your post really interesting, as it's an eloquent statement of ideas I've been thinking about for a long time, particularly the idea of the accumulation of "wealth" being more of a concept than an actuality, and also being necessary to keep prices stable. However, where I would differ from you is that you seem to view this as a conspiratorial conceit that's been implemented, and not the natural state that arises in a large group of self-interested and rational economic actors looking to create stability. Also consider that so much "wealth" is in the form of debt, which is just an expectation of future wealth. When the goods and services underwriting that debt are realized, the debt can be serviced. When they are not, the debt gets written off and that money essentially disappears from the economy. I think the default of debt is a natural way the system prunes itself and helps to prevent money creation from running away on itself, although that's not to say it makes it impossible. But I don't see crypto playing in to your idea at all, or being part of a concerted effort to game the monetary system by the "elites." |
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Savings in banks Deposits in banks Property investments, such as buying property (land and buildings) are then leased or resold after some time later. Gold investment, such as buying gold and then stored for the long term. May be useful in the long run. and produce a decent and satisfactory. or farming to buy sawan and gardening and planting fruits and vegetables is a very good investment. Although a little vulnerable to failure but it could not hurt to try.
I’m not positive what you mean by this, but I think you’re talking about comparing other investments— such as savings accounts, property, gold, etc.—to bitcoin, correct? I think bitcoin is not nearly as risky an investment as it was a few years ago. Cryptocurrencies have established themselves well enough now that I don’t think they’re all going to go poof, as many initially feared they would. But that doesn’t mean there aren’t substantial risks. These are the current ones I see for bitcoin: * Governments make it illegal to own/trade it. This risk is smaller than it used to be, but it’s still somewhat substantial. If one of the major players, like China, banned it, price could tumble quite a bit. * Other currencies take its place. There are a lot of other coins that have advantages over bitcoin, including possibly bitcoin cash. * People stop buying it over the short/medium term. We’ve had quite the run-up this year, which means that a lot of people are expecting it to go higher. A significant crash (e.g., 50%+) could shake confidence enough that it takes a long time for price to come back to where it is now. My advice is to start with small investments on the price dips and average in over time. It feels great to think about it hitting $25k+, but balance that with how you would feel if it drops to $1000. I would say the risk has not decreased any relative to the amount of investment it takes to earn a gain. Back when bitcoin was less than a dollar, you could buy substantial sums of bitcoins for $100. The risk of throwing away $100 on something useless and unproven was substantial. For $100 now, you can buy a very small fraction of a bitcoin, and while the currency is more established, it is still extremely volatile, a poor store of value, and the risk you're taking on for $100 relative to the potential gain is probably not any better than it was when you were buying a worthless token with no prospects for future utility, but tremendous upside if it did. |
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I did dump it at around $4700, not that I had a lot to begin with. I don't
regret it now. I actually spent it (as opposed to selling it for cash).
The China thing has people spooked, and I didn't figure it was going
to take much to puncture this bubble. But then again, this could just
be a serious dip. We'll see in a week or two if bitcoin rebounds.
Congrats on your timely selling, and also on the recognition that Bitcoin displays bubble-like properties, if it's not an outright bubble. Most of the people on this board post things like price drops mean it will go even higher! That's the type of blind optimism that loses people life savings while they were chasing pipe dreams. I'm not wishing ill on anyone, but I wouldn't feel bad about those people getting burned. But I want to point out something interesting: even as recognize the risk of this bubble being punctured, you then said "we'll see in a week or two if bitcoin rebounds." That in itself is a perfect encapsulation of how pervasive this bubble is in that even someone who thinks they're being skeptical thinks that a bubble popping would be resolved in a week or two! |
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S&P has cut China's credit rating from A+ to AA- (a one step drop) citing risk from debt growth. This follows a credit rating decrease by Moody's in May which also cut on account of the growing debt. At the time, China refuted that credit downgrade saying Moody's overestimated the economic difficulties, but S&P seems to agree now that China will have difficulty maintaining economic growth and also cleaning up its financial sector.
Perhaps knowing another credit downgrade was coming played in to the China's decision to ban crypto exchanges as they seek to freeze capital outflows. (Wild speculation, admittedly.)
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It is possible, indeed. If the government of a certain country cannot find a way on gaining benefit from bitcoin and other cryptocurrency and this coins are imposing detrimental effect on fiat, then they might take such action like what China did.
The thing is as more country bans the coins, bitcoin will start depreciating and may result on holders selling there share.
There might become an indirect effect on bitcoin market.
Governments banning bitcoin would have a direct effect on the market. People will need to cash out to prevent having a useless asset. The selling pressure in such a scenario would feed on itself, the same way buying pressure tends to fuel itself in bubble-like fashion. It's entirely probable that bubbles deflating will pop rather than deflate in an orderly manner allowing people to exit orderly. The drops will be large and fast and not provide warning. |
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Hi All,
I have just over £500 to spend and I'm not sure where I should be investing this.
Do I buy a small fraction of a bitcoin or buy 2 ethers?
What would you do?
I'm looking for some long term investment.
Also, i'm hoping to contribute £100 per month towards either one but not sure which direction I should be taking.
Many Thanks
Why not to go to the altcoin if you are having limited amount to invest in the crypto, as far as i can see the ether and bitcoin looks same right now, but the price of bitcoin was too high if you are not having a lot of money invest in both will never give you a decent profit Price is irrelevant. The question is what is going to return more over time, and price has no bearing on that. A 15% gain is a 15% gain, no matter if your starting base is $500 or $1,000,000. Buying an altcoin just because it costs less per coin doesn't mean it's going to go up more percentage-wise. Bitcoin is denominated to 8 decimal places, so there's no concern about not being able to buy "enough" to justify the purchase. Your main concern is the percent of price appreciation, not the actual dollar amount change. |
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Unification of currency will breed corruption, chaos, greater poverty, hardship, backwardness. Is just like narrowing it down to communism and communism thrives more in an indigenous society and not heterogeneous. It will breed chaos. This my view anyway.
How is any of that related to what currency is being used? All of that happens in every monetary system, in fact the only constant is that it happens in every monetary system. The underlying currency is irrelevant. If the whole world switched to bitcoin and used only bitcoin, it would still happen. There would be corruption and poverty just the same. What currency such inevitabilities happen under is not consequential because the outcome is not tied to a specific currency, but to the fact that there is any currency at all. |
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Hi traders!
Does somebody here do trading in stock market and also trading in bitcoin? Which is more profitable and safe?
Thanks ahead!
I'm just planning to invest in stocks market but this is what I observed base on my studying before entering it. 1. In stocks, the profit is very slow. It will take years to see your profit. 2. In bitcoin,it will only take a couple of days or months and you can get an instant profit. Stock is safe because it is backed up by the government, bitcoin is decentralized but we do trust it. Both of them are risky but bitcoin is better and profitable. This is horrible advice. First, volatility creates profits and losses in stocks and bitcoin alike, and stocks can be volatile, so profits can be instant. Second, trading just to trade in either stocks or bitcoin is risky. The real growth in stocks comes in the ownership stake in the company over years. Second, you seem to think bitcoin can only go up. Wrong, and naive to boot. Last, stocks are not backed by the government, but they are an ownership stake in a business that creates value, so stocks have an inherent value. Bitcoin does not. That is what makes bitcoin riskier, the fact that it ties to nothing of value. |
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If everybody is rich, then nobody is rich. Rich is a relative term, and it is only meaningful in comparison to everyone else. If everyone had a billion dollars, would everyone be rich? No, because then everything would cost unquantifiably more and you would be in the same situation where you are now, where you have a billion dollars but being reach means having 100 trillion dollars. There are limited goods and services available for purchase, and everyone is competing for them. The "rich" at any point in time are the people who can afford more of the goods and services than everyone else, so everyone having a billion dollars would only mean that it takes tens of trillions of dollars to be rich.
Everyone cannot be rich.
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Bitcoin is a great investment relative to traditional assets classes the same way throwing $100 on a number in roulette and hitting it and then claiming you're an investing genius for getting a 3500% return on your investment. People aren't even aware of how much risk they've taken on, but they sure are convinced about how smart they are for investing in bitcoin when the only data point they have is "it's going up" and their investment thesis is "if it goes down, that just means it will go higher." These people are not investors, and their investment prowess has not been proven with bitcoin. Just a bunch of people who got lucky and don't know why or how, but are convinced it was intentional.
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In order to use bitcoins you need internet and not everyone uses internet . Most of people don't know how internet/computer works so maybe its the main reason why Most people don't even know what this is yet. For knowing or starting buying selling bitcoin, you need to have basic know how of the Internet so how will those people operate and use bitcoin who are totally uneducated.
that is not the point, we are living in the world where internet have been the primary needs just like you need to eat. so i think in most places internet available already , the point are when even a classy full of technology store won't adopt a new big thing like bitcoin. they could do it easily btw. just the matter of time to make them convinced and feel not fear using bitcoin with its volatility. Amazob, Ebay etc will have to accept Bitcoin one day, and then the smaller stores will follow. Some german online shops for computer hardware accept Bitcoin already. Why will Amazon and eBay have to accept Bitcoin someday? It's not necessarily a given that even if they do, smaller companies will follow suit (although it's probably more likely than not), but there's argument presented as to why you think those large companies will eventually have to, and the rest of your point reiesnkn this assumption. |
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This is a serious discussion. I mean, after I've seen how bitcoin (and other cryptos as well) got dumped badly after an irrelevant law that makes ICOs illegal. I can only imagine now what would happen If more countries do the same thing and It could get worst by make itself bitcoin illegal. Whether we like to admit it or not, most of people would sell everything they have once its made illegal, some may continue to fight the central banking but the sad reality is that as soon as people start making profits, they will dump it and move on.
First, the premise is flawed. A law that outlaws exchanges is the opposite of "irrelevant." This is a risk of Bitcoin. There is no regulatory landscape, and as one emerges, some countries could take a hard stance. It's perfectly understandable that people liquidate BTC after it becomes extremely difficult to exchange fiat, or illegal. It's a risk people need to consider. |
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These dumps keeps coming day after day, btc holding "OK" so far, but is this still all about china? or are we now in the long bear market since 5000 usd?
edit: also people keep talking about this being the best time to buy when prices are low, but in a free market, the concept of "best time" and "low" are relative.
anyone putting absolute bottom below 2200?
Reversion to the mean as far as volatility goes. Bitcoin was extraordinarily stable for an extraordinarily long time by Bitcoin standards. I wouldn't characterize the selling going on as "dumping" unless it's heavy and sustained. What we've seen thus far is people trading in the volatility not dumping and staying away. |
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No. now is the perfect time to buy more bitcoins because it's cheap due to the certain issues coming from China and JP Morgan.
I share the same opinion. Chinese investors are holding back their investments because of their unclear situation but soon they'll buy again and the price will rise again. JP Morgan himself bought a huge load of BTC after his interview, you should too. Don't go spouting nonsense. Nothing you typed is factual. JP Morgan had been dead for 100 years and didn't give a speech recently. Second, neither the bank nor Jamie Dimon, the CEO of JP morgan, bought Bitcoin after his speech. People taking investment advice from random people on the internet who post the type of "quality" displayed above are going to wind up losing money, and deservedly so. |
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They certainly manufactured this coin out of thin air
But it is the same with essentially any coin out there (wtf, even fiat is created basically out of thin air nowadays). Apart from that, I can't possibly agree that this coin has actually created billions of dollars worth of value. If people tried to cash out all their Bitcoin Cash tokens that would likely crash the price below a few million dollar market cap. Therefore, it is not a real value, it is no more than some fancy numbers with no connection to reality, pretty much like Bitcoin's market cap (or even less than that)
Market cap is funny like that in that it purports to represent a theoretical value that wouldn't hold up in certain situations, like total liquidation. But it's the best metric available, and a standard for all asset valuations. It's "paper" value just like a stock is a "paper gain" or "paper loss" until it's sold and realized. I understand your point in saying it's not a "real" value, but it's no less applicable than any other asset valuation, and even if you take the position that all asset valuations suffer the same flaws, then at least that's consistent and a point of comparison. The fact that you wouldn't be able to liquidate the market cap value out of BCash doesn't affect market cap a comparison tool to compare it to how much its worth relative to Bitcoin I still wouldn't compare stocks with crypto I've seen some post of yours today (regarding the stance of Jamie Dimon from JPMorgan Chase on Bitcoin) where you basically agree with this dude that Bitcoin is purely a speculative asset that will likely blow up eventually. Now compare that with the stock of some real company like IBM or Intel. Obviously, the liquidation value of Bitcoin is zero for pretty obvious reasons, but is it the same with the stock of these companies? If all shareholders decide to sell their stock one day, the companies will just buy up all of their own shares, but who is to buy the last bitcoin? So it is certainly not the six of one and half a dozen of the other No, the difference being that stock is an ownership stake and in the liquidation of a company, has inherent value that shares are worth during liquidation. If the book value of the company isnabove zero, you would generally not expect the stock to liquidate below the book value. Market cap is there most relevant metric to assess the size of a company, or in this case, a crypto. |
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Why?
The more you buy, the more you will profit in the future. As a matter of fact, Bitcoin is the only thing I would ever suggest anyone to go all-in on, because of the sheer amount of profit people have made so far compared to losses which are literally non-existent.
People like you shouldn't be allowed to invest because you don't understand what risk is and you'll invariably be the ones crying for a bailout when you lose all your money taking on too much risk. Nothing is guaranteed to go up. Of it was, there'd be no such thing as poverty. |
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