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A lot of people are mining at loss because of the heat their miners are generating during winter. It's cheaper for them to run a heater that actually returns some of the cost. This is one of the reasons the hash rate isn't dropping that much. Mining has such an easy barrier to entry so it will never be extremely profitable unless you are speculating on new coins that are under the radar.
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Hello, this is a continuation of my BTC project. I am trying to figure out what the biggest problem is right now I believe it is volatility. I am open to other opinions and how they could be fixed.
Volatility will be solved once crypto becomes more mainstream. This is the gift and curse of being an early adopter, you have to be able to handle these wild price swings. The biggest problem for bitcoin is scalability but some would argue that it's not a problem because bitcoin should act as a store of value instead being used for micro transactions. Bitcoin does have the lightning network but some would argue that the forks have more capability to scale. |
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I mortgaged my house to buy $300,000 of ETH at 800. I dod not tell her. This house was paid off in full. Now I cant make the mortgage payments with my job. I cant even sell the ETH easily because I live in NH. Should i keep holding? Tired of making excuses about wherr all the money is going. I guess I'm what you call a loser. Thanks everyone.
All you have to do is hold and be patient. Bitcoin and Ethereum will reach new all time highs pretty soon. These are the top two cryptos and they don't have any serious competition. If my predictions are correct it will only take 3-4 months for eth to hit $800 again and for bitcoin to hit $12k. |
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Let's not deceive ourselves, the situation seems hopeless to a lotof people! And it is completely understandable! Because people had different expectations to begin with. Each one of us entered this with a different expectations and different predictions. And majority looked at people making a lot of money when the value of BTC was 20k and they expected the same! Or people who held on and waited for it to continue the grow even after it reached 21k. If you invested, whenever and no matter how much and you haven't made any moves so far, my advice is to be patient. See it as a new start. It passed 4k today so it is moving up. It will definitely go up. Just wait for it.
The people that bought at the top just need to hold and be patient. Bitcoin will surpass 20k but they need to just forget about their coins and focus on something else. Markets transfer money from the patient to the impatient. The problem is no one wants to buy when they see little growth but by the time they buy in its too late. |
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There are also positive things that come from gambling. It can be a great stress reliever for some people, you may lose a small amount of money but it's no different than paying for entertainment such as a concert or a movie. Also it can actually improve your social life and you may meet a lot of new friends from gambling.
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Speculative miners constantly check bitcointalk announcements under the altcoin section for new coins that may have a bright future. By the time it gets listed on coinmarketcap the difficulty will be too high. This is really the only way to make huge profits from mining these days, you have to mine new coins while the difficulty is very low.
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People are freaking out but these types of crashes are normal for bitcoin. Bitcoin has experienced these major crashes at least four other times and it always comes back to a new all time high. I believe the bottom has already been hit and we won't hit 3600 again. Honestly, I didn't think bitcoin would crash this much because I thought the market was more stable this time around but the hashing wars are the main cause of all of this.
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Looks like a lot of greed in this thread, people waiting to buy in for absurdly low prices that will never be touched again.
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No matter what happens be grateful for your health. Steve Jobs was worth billions but ended up dying from cancer. Sometimes the time we spend making money is not even worth it. I've never seen a person on their death bed regret not making more money.
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Keep dreaming, it won't hit 3k. That is below every miner's cost of production. This forum has been invaded by manipulators that are trying to get people to sell their coins for cheap. When everyone is declaring bitcoin dead it means that this is the best time to buy. My target for the end of this year is between 6500-7000.
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My buiggest concern is that I don't have enough, and I may not be able to build my holding before the next bull run.
 Couldn't agree more. This is probably the last chance we have to make huge returns with cryptocurrency. Once mainstream adoption comes the volatility will drop off massively. Anyone waiting for cheaper prices from this point is just being greedy and will be left behind when the next boat leaves. |
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In 2019 Ethereum can hit 600$
In 2020 Bitcoin can cost around 50,000 $
Cryptocurrencies are adopted to real life, changes still going
I think your predictions are quite low actually. Ethereum only $600? It was already twice that amount and bitcoin is expected to be over 100k by 2020. I don't think John Mcafee's prediction of half a million will come true but bitcoin will be worth a substantial amount. With government currencies collapsing around the world people will look for a safe haven like bitcoin to store their wealth. |
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Btctalk name ✅ BitBustah
Rank ✅ Hero
BTC Wallet Address ✅ 1MWdegQUtSvkYAK943eAMCLuY9w58dfqa
Wear Appropriate Signature Yes
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I've let my emotions get the best of me before and I tried to make up for my losses but I ended up just losing even more. Its best to stay cold and calculated but that is easier said than done. We are all just humans after all. I bet in the near future all day trading will be done by artificial intelligence bots. It's better for most people to just buy and hold.
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Power consumption of bitcoin mining keeps going up. And will continue to go up as bitcoin usage and price increases. This have harsh enviromental implications. Is there a way to reduce power consumption or are there plans to switch to a more eco-friendly way of mining bitcoin?
It is a concern because of the recent news of climate change. However, I think in the near future we will have more efficient and clean energy sources. Also the amount used by crypto mining farms is a lot lower than the traditional banking system uses if you factor in everything linked to it. |
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A smart hacker wouldn't waste their time on mining malware. They could make a lot more money through other attack vectors. I guess some people just want to watch the world burn. Well, if you notice your pc running extra slow there may be a secret miner installed. Make sure you alyways have the latest antivirus software updates installed.
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A lot of new investors are very angry because they bought near the 20k price and are sitting on a huge loss. They are angry and yelling at others calling bitcoin a scam. All they have to do is be patient and hold. It's not a loss until you sell. This should be treated as a long term investment and not some type of get rich quick scheme.
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I never felt much of a damage here by bitcoin though I did lost big money during its ath. But I am keeping bitcoins because I felt like this is not just worth $20,000 in the near future but more than that.
I lost a fairly large amount of money as well because of the recent crash. The good news is not really a loss until you sell, I'm a holder so I am willing to wait this out. Of course you never want lose lose money but after seeing people with serious health problems I'm grateful just to be alive and healthy. Bitcoin will definitely soar over $20,00 in the future once more people around the world use it for their everyday purchases. |
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I know a lot of new users think it's really easy to get hacked and lose their cryptocurrency. But if you follow simple security tips your funds will be safe.
-Never keep a large amount of coins on an exchange
-Send transactions through an airgapped computer or use a hardware wallet so your key is completely protected from the internet
-Always have backups! You never know when a flash drive or computer will fail
-Make sure to have a back up plan to transfer your crypto in case of death
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There has been a lot of good news lately about cryptocurrency. New exchanges seem to be opening everywhere in addition to more crypto services for the average consumer. The amount of Bitcoin ATMs are growing and more people are starting to learn about crypto. All this positive news but the prices don't seem to be reacting to any of it. It's a bit puzzling but I think whales are manipulating the prices down so they can accumulate.
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