Bitcoin mining is based on very high energy costs and environmental costs.
One bitcoin =20 barrels of oil.
How many barrels of oil do you think the industry consumes every year?
10 barrels? 50 barrel?
Each year, the mining industry consumes more than 24 terawatts of energy, the equivalent of 13,239,916 barrels of oil.
Every 10 minutes, 12.5 bitcoins are dug up, meaning 20 barrels of crude oil have been reached since each bitcoin was dug up (not yet traded).
In other words, the amount of energy consumed by the global bitcoin mining campaign is 40 times greater than the amount of energy needed to support the Visa card network.
One bitcoin transaction = one American family USES electricity a week.
According to encrypt the currency analyst Alex DE Vries estimate an index, the currency trading energy consumed each year more than 24 tw, this is equivalent to total energy consumed each year in Nigeria, which has a population of 186 million.
Currently, about 300,000 bitcoins are traded each day. Each bitcoin transaction costs 215 kilowatt-hours of energy.
The average American household USES about 901 kilowatt-hours of electricity a month, which means that each bitcoin exchange consumes enough energy to make an American family comfortable for a week.
What do you think about the energy consumption of bitcoin?
Why would bitcoin do that? Actually, its not bitcoin that destroying the world. It's us. Bitcoin is just a currency, an investment and has no direct effect on the environment. It has a lot of benefits to people. |
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There are different reasons why we do things generally in life, Cryptocurrency too is not an exemption. Different people have their reasons for involving in Cryptocurrency as a whole. To me, I first heard about Cryptocurrency in 2016 after my adventures with ponzi schemes. The impression I first have was impressive because I was in a good hands then, my mentor was a keen and always ready to help person and he achievement was there to show for it. So I was curious to get started and join the big guns in Cryptocurrency world.
Share your views on the reasons that got you involve in Cryptocurrency and let the newbies learn.
I was involved in bitcoin because Of my belief that It can provide me with income and make my finances stable. I got into bitcoin when a friend introduce it to me and explain the benefits. And now, I am enjoying and reaping the advantages of bitcoin. |
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Will Altcoins survive as bitcoin is going higher and higher and the demand is getting increasing every day, what will happens to altcoins
Altcoins are partner of bitcoin. People are more interested in trading and buying altcoins because they are cheaper and has good returns of investment. These altcoins are exchanged in bitcoin when they have enough. I beleive altcoins will survive and stay as long as there are people transacting, investing and buying them. |
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I have gathered informations about bitcoin that might interest you and what’s going on in the other side of the market
Let’s see.
The bitcoin price is now up by approximately eight percent since the beginning of the week. At press time, the currency is trading for over $8,800, and $9,000 by Monday seems like a done deal granted bitcoin can keep up its current momentum.
Frank Cappelleri – executive director of institutional equities at Nomura Instinet – predicts that the currency is slated to go much higher, and will likely strike $9,173 in the coming days.
In addition, over 60 percent of analysts – according to a poll conducted by Tom Lee – feel that bitcoin could break $12,000 by the time summer rolls along.
“Large hedge funds have entered with deep pockets and strong hands,” says John Spallanzani, a portfolio manager at Miller Value Partners. “All positive signs.”
With all of these positive signs we can expect a good market gesture in the coming days.
And yet mining is once again looking profitable!
Bitcoin has been increasing for the past weeks now. It climbed up about 20%. I believe this is the start of making movements in bitcoin again. The green state indicates that bitcoin is becoming alive again. Those people who predicted about the increasing price of bitcoin has come to reality. |
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Lots of coins are coming in every month. But I can't know which coin will good in future, Always I face problem with my confusion. So, is there anyway to know which coins are good?
Thank You
To si ply kmow if the coin has a good and realistic future, you have to spend time reading their whitepaper and focus on their roadmap. likewise, you may join their community in order to learn about the coins by reading others responses and comments. |
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To all parents and soon to be parents out there, Plan for your children or future children by saving Bitcoin for them. Buying them bit by bit would be a great investment for the future of your kids. I am saying that you must have a new wallet for your kids so that when they come at the right age, you can give them that wallet and imagine how bright their future will be. You can hold bitcoin for their education, life plans, or whatever you think of. I believe that if you start storing bitcoin for them now, a bright future is ahead of them  Bitcoin is a good way of investment or investing your money. likewise, it is a good savings for yhe future of our children. bit by bit, if you save something everymonth, soon, that small one will become really big and value will also become huge. I will start doing this for my children. |
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Last year in early december I bought eBitcoin token which turned out to be a scam. Luckily for me I sold them before the ePRX snapshot but alot others have made losses. I really believed this token would be a succes but I've realized that alot of these ERC20 tokens have the same things in common. The devs (or better said scammers) create alot of hype and pretend their token to be the real deal while they never intended to create a working product. I've thought about investing in tokens like Credits and Elixir but I'm afraid they are all the same kind of scam.
Do you trust them?
The scammed project or coin doesnt depend on the ERc20. ERC20 is a platform in which it making sure that the tokens or coins are transferable in all exchanges or wallet. The scam thing is based on the developers.. |
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Financial technologies such as bitcoin, P2P lending and crowdfunding are just beginning to take off, and businesses involved in the industry pose little immediate threat to traditional commercial banks. Banks, after all, the country's economic lifeline, so I think the bank is still very important, do you think?
Banks are still necessary even with the presence of new innovations like cryptocurrencies. Not all people are in cryptocurrencies and even products and services are not all in online business. Banks regulate the issuance of fiat money and the main end of having cryptos is to exchange them in fiat. |
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In times of volatility and uncertainty, investors tend to favor one particular crypto that has high liquidity and is stable. At the current time, Bitcoin price trend still dominates the market trend.
However, Bitcoin leading position seems to be doubtable as Altcoins have recorded a stronger rise recently and the market is less affected by Bitcoin. Instead of following the general price trend of bitcoin, many cryptocurrencies also start to follow their own “trajectory”.
This week, the altcoin works much better than both Bitcoin and Ethereum. The added value of the ERC20 tokens and the increasing demand for small cryptocurrencies of investors in the global market has proved that Crypto investors are more confident in betting their money on this market.
Saxo Investment Bank from Danish, with its aim to focus on online trading and investment, has announced in a recent report that the capital inflows from organizations to the Crypto market will lead to a rise in prices for most of these currencies.
Both are cryptocurrency. They may be differ in prices but they are the same as virtual currency. However, bitcoin leads far than those of altcoins in terms of price and reputation and popularity. Altcoins, on the other hand, has outnumbered bitcoin and many choices to invest in. In the future, bitcoin will always lead the cryptocurrency. |
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mon·ey (noun)
- a current medium of exchange in the form of coins and banknotes; coins and banknotes collectively.
---
cur·ren·cy read as ˈkərənsē (noun)
-a system of money in general use in a particular country.
So, is bitcoin money or currency?
Bitcoin now is usually used as a tool of making money rather than a currency. Bitcoin in my own point of view is more of money because it is used in investment and gaining profit. |
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Can a cryptocoin survive if a dev remains anonymous?
I do not think so. What's your opinion?
It will survive and survival depends on the demand and transaction of the coins and not on the popularity of the developer. Look at Bitcoin, the identity of Satoshi Nakamoto is still unknown until these days, but through the demand and high transactions of bitcoin, it is still surviving and the most famous coin, |
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We are entering an era of multiple digital currencies, and many of them will survive. Bitcoin is certain to be one of them, but it can't be number one for every factor. Where do you think Bitcoin will stay as number 1 - Store of value
- Services in addition to simple money transfer
- Convenience
- Security
- Investment/speculation
- Safe transfer speed
- Privacy
- Freedom from globalist control
- Other
In my point of view, bitcoin will stay number one in terms of reputation, high value and popularity. Bitcoin on these areas is really remarkable. It has proven its reputation over time and the only coin with high value. |
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I've been doing bounty campaigns only since December 2017. Not long, in the scheme of things. But one thing that truly surprised me during the last couple of months is the number of bounty hunters who look to sell their tokens ASAP. At first, I didn't understand why, but I think I'm beginning to.
For me, I'm doing these bounty campaigns for a bit of fun and to give my mind a bit work to do, creatively speaking. So my mindset for any bounty tokens is just to HODL and allow the devs to implement their roadmap and take the project through to completion. I think this will give the best realisation of value on the tokens. Sure, some may fail and they will likely end up worthless, but since I only invested time, not money, into receiving them, I'm not really worried.
So with that mindset, I struggled to understand why so many people were eager to offload their bounties at the earliest opportunity.
But over the weekend, I sat down and did some calculations on the accumulated bounty rewards I'm expecting to receive. Each bounty by itself was a modest return, but when combined in totality, it was a sizeable amount. And that's when it struck me...
Lots of people who live in less fortunate parts of the world, particularly in areas with high unemployment, probably NEED to sell their bounty rewards to put food on the table and pay their bills.
But I really don't know if my assumptions are correct. So, my question to you is...
Do you sell your Bounty Rewards straight away or HODL? Any insight into your reasons would be appreciated.
## If this post has been thought provoking for you, I'd really appreciate a bit of Merit in return ##
Reward from bounty campaign is good and great to keep. If you immediately sell your token from bounty, you are just contributing to the dump of the token. Selling it at once will just give you low price. Hold it and after couple of months, you will see that the price will go higher. |
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People are still buying bitcoin because they are hooked by the idea that it can give them richness and be able to gain huge profit. I agree with your statement. Actually, I am more investing in other altcoins rathef than bitcoin because they are more profitable and affordable.
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Bitcoin is the most famous and the no one crypto currency today. It hold the highest market cap in crypto industry. Also it use very advanced and secured technology, Block chain to operate. Lots of people's use bitcoin as a investment factor. This cause to maximize the capital of Bitcoin. But how long Bitcoin will survive in this industry ? Because lot's of government try to manipulate and control the crypto currency industry via introducing new regulation. As a country some one can do vast harm to bitcoin. We saw some of in past. If Bitcoin fail in this industry it will be a biggest financial crisis in this century.
I beleive bitcoin will continue to exist until there is one man who continuously using and transacting in it. Bitcoin has a good value and interms of longetivity, it will probably be in the market for another 500 years. |
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Do you think the market will stay green or turn red?
It not an easy call
I say green
Everything in crypto market is untrustable because they may go up and down from time to time. Having a green color doesnt actually mean it will last long. You just to have to be observant and vigilant. Just keep watching those green color and if possible, trade wisely. |
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I know some coworkers that sold BTC today, they are real casuals, they got into BTC because they heard it went up a lot, they don't know even to set a local wallet so they store their coins on Coinbase or wherever the fuck they buy at.
Well, they sold today at at the dip near the $4000 double bottom.
The irony is, these casuals are the ones that are always complaining about how it's unfair that BTC is distributed in the hands of few whales, YET, they are the ones that constantly panicsell and give their cheap BTC back to these same hands they are complaining about, because guess who is profiting the most on these dumps: whales. They buy lots of cheap BTC.
If you want whales to stop having so much BTC, don't panic sell or you will keep feeding them. Just focus on your own portfolio and keep stacking BTC on the dips. In the long term, we will win.
Because these panic sellers always thinking about easily getting money and investing in short term ones. They are the small timers in which easily worried about the movements of prices. You are right that if they stop selling their bitcoin at low price, those whales will definitely make move to sell theirs. |
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Anyone in the bitcoin ATM business??
Bitcoin ATM for what purpose? I think it is difficult to do that because you will put your bitcoin in atm and you need a bank to do that. Also, that ATM can't be used in any shops or store because none as of these days accept bitcoin as payment. |
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Over 900 Million pesos worth of bitcoins been scammed.
Filipino couple amasses at least P900M in alleged Bitcoin scam.
MANILA, Philippines (UPDATED) – Police have nabbed a couple promising easy wealth through popular cryptocurrency Bitcoin, Philippine National Police (PNP) chief Director General Ronald dela Rosa announced on Tuesday, April 10.
Arnel and Leonady Ordonio were nabbed by PNP Criminal Investigation and Detection Group (CIDG) operatives – the police division in charge of high-stakes and high-profile crimes – in Vigan City last April 4 through an entrapment operation.
The scam, Obusan said, is structured like a pyramid scheme but with electronic money.
The Ordonios apparently had middlemen who lured people to invest. They promised to pay victims with their earnings every 15 days.
Fueled by the worldwide Bitcoin hype, more and more people were baited by the Ordonio couple's promises.
The complaints started piling in when investors lost contact with the Ordonios.
Whats happened next?
Around 50 angry victims stormed to Camp Crame on Tuesday, asking the couple if they could still get back the money they had hoped would grow.
Will bitcoin be banned because of that?
No. This is just an isolated case in which those so called investors have no knowledge what they are into it. Those scammers also are taking advantage with the popularity of bitcoin. Philippines wont ban bitcoin with just this case. |
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Bitcoin dipped to 7500$ and i think now it is danger zone could go to 3000$-4000$ again.
Good chance for newcomers, sorry for those who bought bitcoin at 18,000$ an 11,000$ 
What do you think? How low bitcoin can go? Just hodl it If you hold your butcoin until the price went up recently, then you also have gain profit. Patience is a good virtue when it comes to bitcoin. You really have to think that the price will soon go high inorder for you to hold and not panic sell. |
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