Reply With QuoteWelcome to the forum. Got a watch?Originally Posted by tickyboi
This "hashwar" of sorts is obviously terrible short-term for the entire market, guess we play the long game now - cryptocurrency has tanked before with large corrections (usually followed by a new high)
However, that usually relies on getting more people interested in the technology and investing in the market - something which might be hard to do considering the large volume of people who bought into the hype last January and have now been burned by massive losses.
Welcome to the forum. Got a watch?
Someone who lies about the little things will lie about the big things too.
Have you not got a TicrThing yet?
Christmas sorted!
Someone who lies about the little things will lie about the big things too.
Good time to buy. Cheapest they've been for a while $3750
Only $3,679 to go.
Someone who lies about the little things will lie about the big things too.
Pretty much like any other ponzi scheme then.
I was wondering what this graph reminded me, and then I remembered:
A = starting the third pint
B = starting the seventh pint
The end of the graph I think is about where I have the great idea of moving onto something like Krupnik
3rd Pint at 6AM ? the crypto-crash is driving you to drink that early?
Im just glad it was all bit of a faff to buy the damn things, nearly bought some a year ago but couldn't get round all the wallet registration palaver so didn't get around to it.
Cheers..
Jase
Can’t agree more Jason. I started the ball rolling on a few occasions but found the faff a bit much. Would have bought in at 2, 3 or more times the current price and list my shirt if the process was simpler.
There might be another bounce, but I can’t see it happening now. It’ll go down in the history books in the same chapter as Tulips and dot coms.
I am not an expert... but isn't there a bit of an issue when it costs more to mine a bitcoin than a bitcoin is worth? Which seems to be the case at the moment?
Matt...
https://thehackernews.com/2018/11/no...am-module.html
Interesting how it was done.
Apparently 20% of the Bitcoins in circulation are being held (or ist that hedl?) by miners. I suppose what we see these days is panic selling by miners, whose speculative strategy of keeping coins in the hope of higher prices has gone sour and who are forced sellers to recover part of their current operating costs.
There have been a few estimates about the cost of mining flying around, and most players seem to think the cost lies somewhere north of $7,000 (some of the latest technology might allow for somewhat cheaper mining) and Coinbase ran an article today estimating that 600k to 800k miners have shut down during the past two weeks. Such shutdowns are reducing the difficulty of mining for the remaining mining operators, however not to the extent of the price falls. It appears as if it is a game of the financially strong and efficient operators trying to sit out the correction and hope to gain from the shakeout of less efficient producers.
At $3,600 per Bitcoin however, any miner will operate at a loss and it's only a question of days/weeks until even more capacity shuts down. The question remains how much of an influence that has on the price of the already issued stock, after all almost 83% of all Bitcoin available for mining have already been discovered and issued.
Someone who lies about the little things will lie about the big things too.
You, and I expect many others Jase.
When the crypto hyping was at full tilt on here many members showed a lot more than a passing interest due to the fabulous stories of fortunes made.
It was probably the arcane methods of purchase that saved many folk from a financial beating.
Thank heaven for that I say.
Cheers,
Neil.
Shall we talk about the people that got out in time as well? Or is it just the negatives now, as it was just the positives then?
Im glad I got in, as it has been a VERY VERY GOOD FUN, I did not make a fortune out of it, in fact I just got my money back + change for a cheeseburger. But I would do it all over again!
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It aint over yet!
Hello to any crypto people here.It aint over yet!
Ive been on TZ-UK for some time as a lurker, was a lot more active before my kids came along.
Anyway. Bitcoin is bouncing from what is hopefully the bottom.
If anyone wishes to discuss some of the other crypto efforts....
I bet you 50 quid that it's lower in three months than it is today.
Someone who lies about the little things will lie about the big things too.
What Bitcoin needs now is use case and adoption. For those people in the world who don't have access to banking but do have access to a mobile phone, BTC and crypto could change their lives.
I bet 100 its higher than it is today in 3 years....
Personally, not thinking in the relative short term.
BTC will be relatively unique as it is decentralised and big. As we go forward more and more crypto will be centralised to cope with the problem of taxing it.
I think it will be zero in three years. No point in doing a three year bet with a stranger. Let's see what happens.
Someone who lies about the little things will lie about the big things too.
You probably have heard it a million times, how blockchain is going to change the world.
Here is an interesting piece about real-world adoption of blockchain technology and its benefits.
We documented 43 blockchain use-cases through internet searches, most of which were described with glowing claims like operational costs reduced up to 90%, or with the assurance of accurate and secure data capture and storage. We found a proliferation of press releases, white papers, and persuasively written articles. However, we found no documentation or evidence of the results blockchain was purported to have achieved in these claims. We also did not find lessons learned or practical insights, as are available for other technologies in development.
We fared no better when we reached out directly to several blockchain firms, via email, phone, and in person. Not one was willing to share data on program results, MERL processes, or adaptive management for potential scale-up. Despite all the hype about how blockchain will bring unheralded transparency to processes and operations in low-trust environments, the industry is itself opaque. From this, we determined the lack of evidence supporting value claims of blockchain in the international development space is a critical gap for potential adopters.
(...) Our approach, as it turns out, echoes others in the field who question whether the benefits of blockchain add value above and beyond existing technologies, or accrue to stakeholders beyond the donors that fund them. This trio of practitioners will continue to explore ways MERL professionals can help their teams learn about the benefits of blockchain technology for international development. But, in the end, it may turn out that the real value of blockchain wasnt the application of the technology itself, but rather as an impetus to question what we do, why we do it, and how we could do it better.
LINKY
Someone who lies about the little things will lie about the big things too.
Only for the miners. Theres only a finite number anyway and if mining stops those in circulation should be more valuable.
The existing ones don't get more valuable but external supply dries up, but I agree with you that the effect is that it should be supporting the market. That's how the system was designed to function.
But as over 80% of all bitcoin have already been mined, the is no large effect to be expected.
Someone who lies about the little things will lie about the big things too.
How do transactions get confirmed once all bitcoins have been mined? Is there some other mechanism that kicks in or do the returns diminish such that it never gets to a point where they have all been mined?
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I'm not sure how much I'd want Policy, Planning and Learning Fellow at USAID on my business card if I were applying for a long term loan in the current political climate.
https://grizzle.com/bitcoin-transaction-fees-guide/
I forgot about transaction fees, thanks!
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Looks like the bounce is over already? Just printed a new low of $3,400.
Someone who lies about the little things will lie about the big things too.
Classic dead cat bounce
I was thinking that the graph's last little detail looked like scrambled eggs on toast
Not even a dead cat bounce, a decent bounce should have gone to the earlier area of support around $6,200. This correction failed already around $4,300 - 4,400, which shows a massive shortage of natural buyers.
Someone who lies about the little things will lie about the big things too.
Someone on PH posted this price comparison from the same time last year. Amazing really.
(the "now" was a few days ago. Even lower today)
Bitcoin Cash : Was $4089 now $134
Bitcoin : Was $19535 now $3776
Ripple : Was $3.32 now $0.33
Ethereum : Was $1389 now $104
Litecoin : Was $366 now $29
TRON : Was $0.254 now $0.014
FUN : Was $0.185 now $0.004541
Undeniably low at the minute from its heady days this time last year where it flourished for many and burnt a few too, however lets not forget it was free at one stage and was just £200 a coin when I first purchased so like Tyson Fury it might just get back up and youve only lost when you sell. If you went in thinking what can I afford to lose then who cares but if you sunk your soul into a dream of a Ferrari then you might be upset if you brought in the wrong timezone
RIAC
Oh, I agree. Bitcoin has actually done "OK" in comparison to other coins. I hadn't been following them so was really surprised just how much they'd lost.
Last year we were surprised how much they had made, strong things happen that you just cant predict
RIAC
Bitcoin is down 84% from its all-time high, Ripple 92%, Etherum 94%, Bitcoin Cash 98%, Litecoin 93%, Tron 96%.
The best performing ones of the 116 coins tracked by Messari are Binance Coin, Decentralised and Maker, all with a loss of 80% since their all-time highs.
So Bitcoin has actually been one of the best performing cryptos.
Someone who lies about the little things will lie about the big things too.
Just lost 81% of their value in 12 months.....
I just had a fresh read of this thread from about 12 months ago (page 6 onwards). How times have changed.
Doesn't say much for the also rans does it!!
Or another way of looking at it is that bitcoin has roughly tripled in value since 2016. It depends what time frame you are interested in.
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I will look at it this way if you bring me just two people who bought in 2016 and still own it.Or another way of looking at it is that bitcoin has roughly tripled in value since 2016. It depends what time frame you are interested in.
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Someone who lies about the little things will lie about the big things too.
I bought in in 2013 and still have about a pounds worth, does that count?
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I mined a few satoshi in 2016 and still have them. Are we quorate yet?
Fine, I will look at bitcoin as a winner as long as it's higher than in 2016. I suppose that will last another week or so at the current rate of decline.I mined a few satoshi in 2016 and still have them. Are we quorate yet?
Someone who lies about the little things will lie about the big things too.
Then we can move on to looking at it as a winner while it is higher than in 2015, then 2014, then 2013 etc etc.
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You'll need to stop when you reach 2009 though.
Good point, we don't want a division by zero error.
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...or when we arrive at a value of zero.
Someone who lies about the little things will lie about the big things too.
I remembered one particular bit of wisdom just now that someone posted early in 2018. Someone (can't remember who) was saying something along the lines that bitcoin always loses a bit in January but then it'll take off towards the moon thereafter.
You always say these things to bring fresh people into the market to drive the rise. Ponzi scheme mostly. Alternative currency on a miniscule scale.
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