AMD and Nvidia are not in the business of mining crypto. Thats some secondary purpose employed by home users mostly, both companies have shyed away from relying on this source of demand long term. The main concern is efficiency compared to other methods. There is some overlap in purpose by business both companies do address which is deep learning and AI in parallel computing, any drop in demand for crypto should be taken up by this industry sector which allegedly has growth maybe even beyond crypto.
I really think AMD and Nvidia were both focused elsewhere in their business plans. Ethereum itself may yet switch to Proof of stake as a more long term viable solution to mining costs, I think their fees are already too high and the speed of the network not impressive.
I'm not sure how that will affect BCH exactly as GPU is not used to mine this but I guess every opposing crypto protocol has some influence on supply and demand. ASIC may improve efficiency for ETH which helps their case but they will still lag POW unless they take POS which is quite a radical step sideways. The main reason to use ETH and not one of the POW coins is still the contract capability of the coin, this demand flow probably has the largest influence on that price. Its possible less miners in ETH may help BCH price some as its a cheaper more natural alternative
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What the hell is this, Bitcoin price will actually matter when we dont constantly talk about US dollars. The currency of just one country in a world of 7 billion people, thats obviously a backwards failed biased system and Bitcoin can aspire to greater things then referring all the time to the US treasury for its worth. People matter far more then political constructs, growth comes from people and from every nation not just the price set in minority of just 400 million. Dollar value is declining by every measure, the price for BTC then even with no growth will keep rising. I would hope for alot more as a best case ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FGrX2AOo.jpg&t=665&c=VuE8wm1Sob823w)
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^^ kudos for sources, doesnt mean they right of course Call that graph of mine whatever you want, but bitcoin is for sure following it. perfect time / buying uppertunity for expanding some hodler BTC-stashes put them coins in good and appriciating hands please
Perfect time, in my opinion as well. My last tweet: 1) US Congress released an extraordinary report praising #blockchain. 2) #G20 announces no call for regulation for #cryptocurrencies. 3) #Tether appears to be backed by USD, discounting significant FUD over last few months. 4) #bittrex/#binance introducing cash deposits. Almost all the news in market is bullish at the moment. Usually we face long bearish times (if one starts) but I think this time it ain't gonna happen. Now that you mention it, it is about time for the goose to fly North.
Well sure thats alot of good news but I thought markets moved ironically and the time to buy is when bad news is most apparent. The old blood on the streets meta. So good news being stated and obvious makes me look a bit closer. The way speculators profit I think is price inaccuracy, people panic and weak hands let slip the BTC a little too easy, making a fast recovery possible. Obviously I prefer numbers to fuzzy words. My screencap thing is being a pain but this old chart says what I mean. We close outside a short term negative trend which could be a positive. 4hr bar above 8000 is a good close, doesnt have to rise but just neutral is a positive vs falling highs previous ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FlDkj8BR.png&t=665&c=_v79nn0VEgjVDQ)
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Spotted this article calling out some basic mistake on amount raised. Anyone else seen the $5bn claim stated ? According to the whitepaper on the official site of the initiative, exactly 38,400,000 tokens were on offer worth $ 60 each token (not counting the discount of 60% announced by the government during this phase). Crunching the numbers, the maximum the government could raise would be $ 2.304 billion, not counting the discount. If Maduro tells the truth in his announcement, he does not tell the truth in the official document of the project and in all previous announcements made by the president himself. After all, according to a new statement released, all tokens were sold at 46% off the officially amount announced (not counting the discounts). https://www.ccn.com/venezuelas-president-false-information-petro/Also interesting is the alleged link between Russia and Venezuela which this Petro to be used as a trade between the two. In a way thats bullish because it gives a large backer and future user, though Russia has plenty oil of its own where as China does not.
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I am pretty much interested to know how many people here uses bitcoin because of it's system, because of the anonymous and the security it provides, and because of the fact that it is really easy to transact over the internet, and there's no one who can just block your account(unlike paypal, a platform that provides an easy way to pay over the internet, but you rely on PayPal to keep your account open).
So, are you guys using bitcoin because of it's nature, or because it's a financial tool of making money?
Tool of making money, you mean as a speculative token ? The only worth Bitcoin has is through its utility, the price varies alot because of speculation of rising numbers of users vs available supply. The base question is still going to be how useful is Bitcoin, by itself bitcoin does not give a yield. The obvious answer to the question should be price stability raises possible deals in bitcoin as the price can be fixed in contracts ahead of time. At present its too difficult to state I will always sell something for 1 bitcoin, not unless my costs are also in bitcoin but often taxes and energy bills must be paid in dollars so ultimately usage is limited by this stability.
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How about agreeing to rent a house for Bitcoin, that seems a nicer balanced prospect to me. Secure the debt on the house with a fixed interest rate in a US dollars which is a depreciating asset with inflation above effective interest rates. Then receive payment in a growth asset which is likely to outperform, the result could be a nice profit. However we still dont have that many people who can say for certain they will have a steady stream of bitcoin income, I'm thinking about gambling related economic activity I guess. Building your house is a smart idea either way its just not easy to do without alot of skill, knowledge and work. Not everyone has natural talent in this area, the best projects I hear of are group efforts where someone in the community has the skills to work on each others houses. I would love to be involved in such a project ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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If there is a charity accepting bitcoins do you prefer to give some of yours ![Huh](https://bitcointalk.org/Smileys/default/huh.gif) Me: I will if there is, but for now I don't have yet. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) Truely,I was a help oriented person.I will use to give some dollars to the trust and every month. If I heard ,bitcoin is accepted in any trusted charity,Surely I will send my half of the bitcoin holding to them. And I will suggest them to hold ,not to sell at low price.When the price increases to peak,I will inform them to sell and use that money for good things. if you are really looking and willing to donate well davef has a list of those here it is I think this is enough if you really wanna help,IF YOU REALLY WANT not just another story for the turtle lol Excellent info, I was hoping to get some payment done through charity for an ICO which refused to pay participants who failed to pass KYC legislation in 14 days. I suggested they pay charity as its a recognised receipant and the company could not get into any trouble for paying a charity surely. So far they have refused to pay anyone the tokens that were due saying that KYC means they never have to pay what they owe due to their deadline timetable. I think thats self benefiting logic to put it mildly and I'll pass this info onto them so they can address their missing payments properly. Also was thinking about starting a petition for all those who have seen KYC used in an exploitative or profiteering way.
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in my opinion bitcoin does not reduce unemployment, because most of those who invest in bitcoin already have jobs, maybe only a small part that only do bitcoin
Even people in jobs can be under utilised, its possible to hold a job and be of no use in the economy. I know personally you may feel the wage justifies the time but if the job is not useful then productivity in the workforce is not rising with your participation and the country overall will not be richer. What crypto I think does very well is fill in the gaps missing in the normal economy and so allow a far higher chance of utility occuring on the missed opportunity and small time shots people may have to provide utility in the economy. First biggest point would be the crypto economy is global and also very fast, contrast this to the rat race you are employed in where you must travel upto an hour of traffic just to become useful in a job; hopefully you see what I mean and how digital commerce could be such a large effect for relatively small footprint ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif)
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Good news if Coinbase will handle all ERC20 Tokens like a proper wallet would. Thats bullish for Ethereum for wider usage and also I personally like this as it raises the prospects of me getting tokens stuck on Bittrex released as it doesnt handle ERC20 and someone used the wrong address instead of using my wallet address. The present system for handling for Ethereum seems pretty patchy in my experience. Obviously wallets is the correct use but if we are talking about the main steam then its often going to include exchanges like this one, seems a fairly big step to me.
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^^ Doesnt have to be true and depends how you measure price. In dollars every price rises as the government continually spends more then is made in tax revenue and so the monetary base is growing more then the economy leading to higher prices for anything. Thats not a crypto effect and will occur in any case.
Mining still occurs as transactions are confirmed in this way, fees will form the block reward and there is none given by the network itself. Efficiency could also mean the block is cheaper to solve at that point even if difficulty has risen. Every economy has a tendency to move towards efficient working process, or the path of least resistance.
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Heres a short term call, bottom out on channel and upside target of 8000. Nothing bullish required to get this really. Longer term there are different perspectives to draw on like the 200 daily moving average which is still a positive trend. Its neutral sideways to negative short term, main trends are based on confidence and deleveraging of credit in BTC market I think. There are other trends based on the actual utility but they may be alot slower to form support https://i.imgur.com/lDkj8BR.png
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Gold has the same value all over the world. This is due to the fact the people all over the world want gold. However, the same cannot be said about Bitcoin. Only a select number of investors are interested in it. This is a crucial point when comparing crypto currencies to precious metals.
Not sure I agree, both gold and Bitcoin are fungible. Every unit is comparable to the other, if anything Gold is less easily transportable and so more localised to an area then Bitcoin. Also gold though pure as an element and not subject to degradation it does need alot of refinement from its raw ore. The only negative to bitcoin pricing equally through the world is transmission, so In China where its restricted some the price is perhaps different and dollar has a greater demand. Also fees could affect pricing but the fee problem is solved now. Gold is heavy and harder to transport, the price can vary and be lower in mining towns then where it might be more used such as industrialised countries high street
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The government used a 20% recovery rate on those resources to calculate proven reserves when, in fact, recovery rates in the Oil Strip are much lower (6-8% in the most productive blocks), Ayacucho 1 being one of the blocks with the lowest expected productivity. The actual proven reserves are, at most, half of the 5,342 million barrels reported That document seems a fair discussion of the likely support to Petro or the government generally. Its very common to read in company reports and oil exploration of recovery rates being difficult to obtain. I'm not especially surprised to read this as it explains the general situation and disparity between the worlds richest oil country and the struggle to survive financially. Every economy has this fight for efficiency at its heart that is challenged by half a dozen different factors, not just other oil fields around the world but energy in general is being developed to contest the viability of difficult recovery of heavy oil like this. This volume placed Canadian proven reserves second in the world behind those of Saudi Arabia. For reference of this ongoing dynamic: mention of Canadian tar oil reserves, also very challenging recovery vs Venezuela - https://en.wikipedia.org/wiki/Athabasca_oil_sands#Estimated_oil_reserves
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The current situation on market isn't good , i didn't know how to deal with my tokens ,sell or hold ?
A market goes up and down regularly so its just a normal market currently. It cant only be called good when the sun shines, generally I'm glad BTC solved some of its fees problem. Thats a long term positive effect probably, price is something else The PLAY tokens are a hold in the long term and in the short term its speculative what the price could be. Most of the time BTC sets the tone for alot of the alt market, thats fair enough as PLAY isnt in active usage so its seeing just speculative price movements. Depends what you are intending to do, make a quick buck or hold long term. I was just looking at BTC price and a recent high was the 200 Daily moving average which is also decent resistance on a number of perspectives for the moment. Normally I'd expect even if bullish the price has to gain some momentum to jump that wall before it can continue rising, I expect it to hold resistance for now. Some might prefer to return when there is a regular 'stair step' type gain in BTC price and alts generally. If BTC sets the tide for crypto in some way, PLAY would be generally sideways ? Thats my guess, my idea is to be buying on lows buts thats a long term idea. Weak hands sell, a good market will allow the longer term holders to gain some benefit from accumulating. A one sided market is actually bad, hence prices are cheaper for buyers is still positive. tl;dr The 200 day BTC price is rising still, in broad terms the crypto market isnt negative or impaired. A cheaper price isnt a negative by itself
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Whatever the price action, there is no way the concept of cryptocurrency is going to be 'uninvented'. This thing is here to stay and it is just waiting to catch the next wave. But these intermediate periods are rather dull (and test the resolve of weak minds that only focus on FIAT value).
Yep absolutely plus you have Dollar system and global currency generally in disarray. Some kind of transition to a better system is happening, believe in something besides crypto if you like but it seems a bit ignorant to imagine or dismiss crypto will not be part of future systems. Any good capitalist system is driven towards efficiency and involves competitive free markets, so of course price can come down but that isnt bearish of the sector overall. The situation with mt gox was far worse with false accounting and an opaque failure, a market that is evolving is a positive so overall I will stay positive on crypto prospects so long as it keeps developing and improving utility. Political currency or FIAT is seriously flawed and cannot be said to be doing similarly, on balance that makes FIAT weaker long term. The recent high was a touch of the 200 DMA. That general area is good resistance that will take some battle to surmount. Price weakness probably relates to a common recognition of that I think, needs time.
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54 dollars would be roughly in the region of the oil barrel price which its supposed to be. Is the monthly wage (minimum) now 5 dollars, that would make most people unable to carry on living. Even in India the poorest make more then a dollar a day for a while now, as I understand it anyway. Sounds like an uncertain situation. However the oil price has been rising recently, I think it was upto 66 dollars. That helps make the petro link look cheap, an increased discount in theory presuming it has a relation to oil purchases I guess Spotted this commentary which explains there is no cap to the amount of petro produced ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FJz25H3T.png&t=665&c=I_14TX7truvi5A)
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Does this company also buy accounts for Overwatch but also other games or purely offering the boost only. Problem is with 99% win rate is that even a good player wont get this which makes for deep learning or statisical analysis of accounts to flag an unusual background to an account. I dont know if they do that in Overwatch but its certainly done for some games, I thought most people just bought higher rank accounts because of this
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I should probably also point out that the the electricity consumption debate on BTC is being magnified by the media. The data centers of the olympics consume way more than Bitcoin does, but ofcourse we don't pay any attention to that. If you hear the media talking about electricity consumption try for yourself to atleast get a frame of reference on what such consumption means. They're just comparing it to countries but what about certain data centers and payment solutions? How does it compare to those? How does it compare to an industrial complex? Those are the things you don't hear. Everyone is just salty for not buying BTC for pennies ( ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) ) This is a popular form of whataboutism, that I have heard here before. People trying to justify the costly nature of bitcoin by comparing it to the incomparable. Just like you did here, by comparing the worlds nr1 athletic event with 3,6billion viewers to a speculative digital asset and with maximum 5 million active users. The costs of running the bitcoin blockchain should be compared to the comparable - meaning to the costs of other blockchains! No other blockchain is comparable to Bitcoin, because no other blockchain is decentralized, and in the end, that's all that really matters. At first, bitcoin blockchain is centralized around pools. 3 pools are enough for a 51% attack. That makes bitcoin as centralized as most and more centralized then some. Second, centralization will only matter to low educated millennials, who are dumb enough to actually believe the "bitcoin vs fiat" sales pitch BS narrative. In the real world of fiance and economy, what counts is efficiency, not fantasy. If you hate bitcoin so much why are you here? I'm here for the tears of bitcoiners and sometimes some rainmaking is needed. Also, the sentiment here can also be a good indicator to help with my crypto gambling habbits. centralization will only matter to low educated millennials If you are here, its due to the internet which is... decentralised. Yes it was designed that way quite famously, I thought everyone had heard of this. Its very significant overall but also to crypto because otherwise it would be far easier to disrupt crypto standards. So who does it matter to, everybody. Not everyone has to use crypto but it should be considered in this way, in relation to the dollar reserve standard which is incredibly flawed and very much centralised. Its an ongoing dynamic not a sales pitch to anyone or a slogan. There are effects in play worth noting, this contrast between distribution and centralised authority and its effect on the failure of capitalism in the modern world is about the most important topic I can think of. Everyone is involved, either they speak or they haven't yet learnt the words or dont even understand the problem. I dont think I'm wrong in assuming peak crypto could coincide with everyone speaking and everyone recognises there is a problem to global trade based on one country's currency. Its been a known point of failure from its outset 70 years ago
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There's a difference between Being a FUDster and recognizing a downtrend. This year's gonna be bearish or flat. I doubt we'll see prices over $18K this year. I doubt we see prices below $5k this year, or ever again to be honest.
Would you recognise the latter statement as wildly bullish because over the whole spectrum of mainstream views thats where it would be placed. If your average person recognised bitcoin would never fall below 5000 again, it would then boost the price alot nearer to 20,000 if not more. That kind of solid backing, a hard value set to the price would be a gigantic step forward and so much it would probably result in a price much higher then the actual 5000. I was looking at DGX which I think is linked to a gram of gold as its backing. People believe that backing is there but then the actual price is like 10x the market price for a gram of gold. So they speculate far beyond the backing to it. I think that'd happen to bitcoin and actually does happen. We dont have a solid base line price but obviously bitcoin has a basic utility and ongoing value minus any speculation. A really bearish estimate I heard for basic value from people who say bitcoin is worthless but then go on to say Bitcoin will always be worth $200 from its use by 'the illegal's who presumably cant use dollar (actually they can but whatever) So the market price is a multiple of that base worth, you saying $5000 is massive and very bullish imo Bitcoin is very reliant on its population increasing. It needs more users so thats my take on base worth, the speculators are estimating a future price to some extent. Same dynamic occurs with stocks
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both are good investments, but here are the differences. If bitcoin is an unreal investment, while gold is a real-time investment.
No this is not the case, investment is a reference to a yielding asset. An investment in a business produces a dividend or return because that business employs capital for a profit. Neither of these assets resemble an investment, gold is a lump of metal. It will sit on your desk for eternity in perfection but it willl never do anything for you, it cannot produce a return or yield. It is not an investment. Bitcoin is circulated and exchanged but again its not employed within a business. The fees part of the Bitcoin economy is not return to holders of the tokens but the hashing network that solve each block to confirm transactions. They are employing capital in their hashing hardware and a return is occuring, bitcoin mining is an invesment. Holding the BTC token is not an investment, at best its currency or a commodity like gold but there is never any yield returned to holders. Dont hold gold or Bitcoin as an investment. Both can be held as speculation and for utility in 3rd party business perhaps. Gold can be deposited at a bank for example, the bank will employ the gold as capital and this will become an investment. BTC can be used similarly in business, just held its a speculative token.
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