Bitcoin Reaches and Surpasses $100k USD (nbcnews.com) 297
Bitcoin just broke $100,000 USD for the first time and reached as high as $104k, and is now sitting at $102,857 at the time of this writing.
Slashdot was pretty early on Bitcoin.
Thoughts, nocoiners?
Slashdot was pretty early on Bitcoin.
Thoughts, nocoiners?
So buying targets have surpassed $25k (Score:3, Insightful)
Bitcoin reaches and surpasses $100k USD
So buying targets reach and surpasses $25k USD. Bitcoin is notorious for 75% corrections after the really big and fast run ups.
Re:So buying targets have surpassed $25k (Score:5, Interesting)
Re:So buying targets have surpassed $25k (Score:5, Interesting)
The HODL gang shows up, buys all they can, and the price goes up.
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Re: So buying targets have surpassed $25k (Score:2)
Wrong part of the cycle. Those kinds of drops come from the bubble top. The bubble is just now starting to inflate.
I would rather eat grass (Score:5, Insightful)
I won't invest in BitCoin even if it makes me money any more than I would invest in a weapons company. Yeah, they make tons of cash too. But ethics is a thing.
Not any less ethical than any other money. (Score:5, Interesting)
Nothing any more unethical about bitcoin than any national currency and you probably use that.
Re: Not any less ethical than any other money. (Score:3)
I make it a point not to hoard dollar bills under my mattress and call it "investing." And purchasing anything other than a share of a productive asset or organization is functionally equivalent to hoarding dollar bills. I know I won't win the lottery this way, but I also know I'm reasonably insulated from most kinds of crashes except the civilization-ending kind. In which case even shiny rocks are useless since they won't fill my belly.
Re: Not any less ethical than any other money. (Score:2)
How is hoarding shiny rocks better than hoarding bills? At least bills don't require large scale environmental destruction to mine.
Re:Not any less ethical than any other money. (Score:5, Insightful)
Except for where the money's coming from.
It's pretty well known that most crypto (including BitCoin) is larger driven by the greater fool theory. So the last one left holding the bag loses. It's also pretty well known that a lot of the money that's propping BitCoin up is coming from illicit activities like money laundering. So if you're OK with getting money that's probably from drug dealing or human trafficking, then yeah it's not unethical.
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I believe the theory has been upended at this point and that large financial institutions and soon larger governments (other than the small players that are already in) are driving the market. IBIT holds over 5% of available Bitcoin.
Bitcoin is THE fiat currency alternative, and EVERYONE seems to agree. The meme is now "not owning some".
It is about trust, and an agreed upon mechanism.
Bitcoin is that mechanism and the price is a reflection of trust.
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No, I don't think so. It's driven by greater fool theory because you don't jump 25% in a month.
The thing is, it's best to consider Bitcoin a thinly-traded item. Because there
Re:Not any less ethical than any other money. (Score:5, Insightful)
Completely wrong. The only real-world use crapcoins have is money-laundering for organized crime, mostly Ransomware attacks. You
"invest", you become complicit.
Re:Nope (Score:5, Insightful)
"A 2022 non-peer-reviewed commentary published in Joule estimated that bitcoin mining resulted in annual carbon emission of 65 Mt CO 2, representing 0.2% of global emissions, which is comparable to the level of emissions of Greece." https://en.wikipedia.org/wiki/... [wikipedia.org].
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I wonder how much energy is consumed by street lamps which stay lit even with no humans in sight.
Re:Nope (Score:4, Funny)
Tell me you're an alien that really hates the light without telling me you're an alien that really hates the light.
Re:Nope (Score:5, Insightful)
A bitcoin transaction requires 906.52kWh of electricity (source: Digiconomist - https://digiconomist.net/bitco... [digiconomist.net])
That is enough electricity to drive a Tesla Model 3 for 6867.57km (source: Tesla UK numbers taken for rear wheel drive - https://www.tesla.com/en_gb/su... [tesla.com])
or the equivalent of driving from London England to Doha Qatar, or from Charlotte North Carolina to Anchorage Alaska.
To do that journey, you would have to recharge your car about 16 times, so if you were to pay for those charging sessions with bitcoin, you would use 16 times as much electricity on the payments as you would on charging the actual battery.
The banking systems' energy consumption isn't remotely close to that.
You may not have a choice (Score:3, Insightful)
And if you think that crash was bad wait until a bubble backed by funny-money instead of houses bursts.
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Yup, we literally have you spouting stuff like this on that 2010 discussion thread.
Bitcoin was $0.06 then, if someone had disregarded your advice and tossed the $1.26 spare change in their pocket at bitcoin for fun instead of buying a 20oz soda from the vending machine that night; they would have more than $2.1 million dollars and consumed 150 calories less.
I wonder how many people are still struggling today because they've taken your advice over the years... how many people believe in the wisdom of rsilver
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That sounds like an insult, but it's not. Because he does collect information in support of his viewpoint, and he does change when he goes too far, so his posts still have value. Furthermore, this is a public forum, where people can oppose them with their own data and viewpoints (as you have done). That distinguishes his posts from something like Fox News, where peop
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Hah too late, the ETFs are already here. It's part of what's pumping the BTC price. And if that's how the banks and investment houses expose themselves to crypto, then it won't be another 2008.
Re: Maybe but crash is eventually if at all (Score:2)
El Salvador is invested in Bitcoin. Other countries are looking at it. The IMF is adamantly against it, though, which makes it hard to transition. The nations who would most benefit from Bitcoin reserves are those same nations that might need to rely on the IMF.
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What on earth is unethical about bitcoin?
Some people equate it to a ponzi scheme.
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Some people who don't understand Ponzi schemes equate it to a Ponzi scheme
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That's just older PoW blockchains, like Bitcoin. There are newer PoW chains that use a lot less power, and then there are non-PoW chains that use less power as well.
Re:I would rather eat grass (Score:5, Interesting)
bitcoin is ethical because it is honest, uncheatable, money.
money, in most all forms, is a distributed accounting system. if I "mint" a money of 100 red beads and distribute them, then people can trade with red beads. No matter how much trade occurs, there are a total of 100 beads. People perform labor (give part of their life) to obtain these beads. But if some participant can create new red beads out of thin air at little cost, then that participant is able to obtain the labor of others essentially for free. This is a theft, but one that is nearly invisible. The accounting system has become dishonest because participants believe they are holding a token worth 1/100th of total economy, but now it is really worth 1/125th. If the cheating participant is clever they will continue creating red beads at a slow-ish rate and convince the other people this is "healthy inflation needed for growth". In this way, they can parasitize the life-energy of others perpetually.
Bitcoin is honest money because every participant is continuously verifying every single transaction to ensure that no cheating occurs. At core, it is simply a verified distributed accounting system, as opposed to the unverifiable distributed accounting system that is fiat money.
Perhaps if more slashdotters understood this difference, and understood that bitcoin is the first verifiably honest money in human history, they might not be so salty about it.
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You're under the impression Bitcoin is a currency.
It isn't money, it's no more money than a Bored Ape NFT is.
It's buying and selling things of no tangible value. Like investors in the stock market.
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Oh, you're one of those
A currency is backed by the government. The same government that enforces the laws, the same one that settles disputes with a court system. A court system that settles debts between people with currency.
Re: I would rather eat grass (Score:3)
Bitcoin is backed by math. If you trust your government more than you trust math, then don't use it. All modern monetary systems are faith-based. What do you have faith in?
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Because the people that are most invested are extremely untrustworthy.
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What do you have faith in?
That a can of beans will cost (roughly) the same in USD, EUR, GBP, JPY tomorrow as it does today. In contrast I have no such confidence in Bitcoin.
The math gives me faith that if I have 1 BTC today I'll have 1 BTC tomorrow (well, if I ignore the volume of highly-publicized crypto heists) and that the supply of Bitcoin won't change in an unpredictable way (well, if I ignore the huge amount of them sitting in dead wallets), but that doesn't tell me anything about what I'll actually be able to buy with one.
Re:I would rather eat grass (Score:5, Insightful)
bitcoin is ethical because it is honest, uncheatable, money.
it's not really money, it's a speculative store of value. the volume of transactions that actually correspond to exchange of goods and services is minimal and will never increase, both by design (because it's really impractical) and by speculation (it's stupid to part from your btcs as long as they keep increasing in value). since it has no other real use there are only 2 possible scenarios for it: either it increases in value indefinitely, or it crashes at some point. make your bets.
i'm not even trying to address if it is "ethical" or not. it's just a tool. we could use it for good, but mostly we don't. imo the whole thing is a massive scam, but so is every financial institution.
Re: I would rather eat grass (Score:2)
You don't understand what money is. For most of the history of money, it was used basically only as a clearing system, for example between tribes. Day to day transactions were done in trade, IOUs, or through some communal system. Money was only used to exchange with people you don't trust.
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LN isn't all that it's cracked up to be. From a strictly technical PoV, a chain that can achieve high throughput on the main chain without sidechains or "payment channels" is going to win out.
It's a kludge to keep the dream of BTC being used in a payment network alive, which is amusing but wholly unnecessary. Even BTC's biggest proponents generally don't regard it as anything but a store of value anymore.
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On the other hand, Bitcoin's primary use is crime. From people collecting ransoms to scam exchanges that are basically unregulated banks. The core concept may be honest, but in practice it's mostly a tool to rob people.
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Perhaps if more slashdotters understood this difference
We understand that the difference is that Bitcoin remains PoW and has ecological impact.
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You must have some pretty messed up ethics. Why because you've picked a 'good guy' team and the 'bad guy' team gets to do things the good guy team has banned by slipping their controls using crypto?
Bitcoin is money controlled by neutral algorithms with no stake in the game, everyone is treated equally. Whereas the people who control the IMF and Global banks essentially create money at will and enjoy all goods and services purchased with money... they own all labor and work in exchange for nothing. That's ca
Re:I would rather eat grass (Score:4, Informative)
Bitcoin is cool if you're into crime, drugs, trafficking and ransomware. Personally that's not really what I'm passionate about supporting, but each to their own.
Re: I would rather eat grass (Score:2, Interesting)
USD is the currency preferred by criminals and fraudsters. As a percentage of market value, crime makes up similar quantities of USD and Bitcoin.
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Fortunately, there are lots of *other things* you can buy with USD.
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crime, drugs, trafficking and ransomware
That sounds like the sister agency to Alcohol, Tobacco, Firearms and Explosives. The party agency and the regrets agency.
Nocoiner tears - mmm so tasty (Score:5, Interesting)
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This post reminds me of the execs at Enron. ;)
Now it is going to go (Score:5, Interesting)
Bitcoin has full support from Trump and some kind of rumored integration into government.
I don't say this as anyone who has any real stake in it; I believe in more solid things. But BitCoin I think is going to fly now for a while.
If anyone shorted Greyscale I feel for you... I thought about it but didn't want to jump in front of what I could see was a fast moving train.
Bitcoin may yet have a bad crash (I man like 90% bad) ahead as many predict but not for years now.
Even if you agree with this all use utmost caution before jumping onto it. Could easily have some kind of pullback as I think hitting 100k will have a lot of people selling for a while to lock in gains... balanced though by many people possibly wanting in now that it's hit that level.
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Bitcoin has full support from Trump and some kind of rumored integration into government.
which is why there is a rush right now and "value" goes up. there's a lot that could go wrong with that though, and besides it's still possible for him to fall from grace haflway into his term for whatever other reason, dragging down crypto expectations with him. i would guess that he is profiting from this right now or has already made a deal, just in case.
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I look at the US and wonder, at point did this become the president the US had to have? I think it's when Trump suggested Serge Kovaleski was a spastic, to use the unpopular but accurate word. (The reporter is mobility impaired, not suffering uncontrollable spasms.) I won't be outraged that a disabled person was treated poorly. I won't be disgusted that Trump bullied a vulnerable person. But the entire GOP ignoring and excusing Trump's pettiness, is unforgivable: That's when the country decided decency
Re:Now it is going to go (Score:5, Interesting)
Bitcoin may yet have a bad crash (I man like 90% bad) ahead as many predict but not for years now.
You are too optimistic. What will actually happen is a crash by > 100% and the network will vanish. It has happened often enough for similar scams that this is a reliable prediction. And no, it will not get any "government integration". What it eventually will get is outlawed, because the damage it does by supporting organized crime is huge. A reliable lower bound number form Germany says 2600 EUR per citizen per year for cybercrime, most of which is ransomware. That is about 5% of everybody's salaries. And that is an _underestimation_ as it only is form the companies that were willing to report damage to their trade-organization.
Re:Now it is going to go (Score:5, Interesting)
Same reason I don't call Bill Gates "Bill".
Same reason I don't call Mark Zuckerberg "Mark".
Same reason I don't call Jeff Bezos "Jeff".
Real question, is why the fuck do *you* call him Elon? Do you imagine you have some kind of relationship with him?
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So you call him "Mr. Musk"?
Bad case of WMV (Score:5, Interesting)
Is Elmo some virtue signaling thing your ideological tribe made you do?
They don't call it the "Woke Mind VIRUS" for nothing, just like those wasps being controlled by fungus the WMV makes them do things that seem obviously irrational to those not infected.
Just sad to see really, reminds me of those frying pans with eggs in them from the anti-drug ads..
Re:Bad case of WMV (Score:5, Insightful)
They don't call it the "Woke Mind VIRUS" for nothing
Why do they call it that?
Is the implication that if you come into contact with someone woke, they will infect you with their wokeness?
Is the implication that viruses somehow inherently lead to "obviously irrational behavior"?
Honestly, it's a stupid fucking term- it makes no sense.
They say it, because they're enrolled in a cult of personality, and the dumb fucker that can't say 4 words without chuckling at himself at the top of it said it. It's that simple.
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it is a destructive and antisocial ideology
Thinking more people should be treated fairly by society, that they shouldn't be degraded, marginalized, punished, in many cases beaten and killed, because they are different, THAT is what you call antisocial?
The rest of your post just tells us that you don't even recognize the exact thing you are railing against are the core ideals of the MAGA base.
Do both sides have followers that go to far, hell yeah. Should the "Tolerant of people and ideas you disagree with" slider be set closer to Less or More, I
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They don't call it the "Woke Mind VIRUS" for nothing
Fortunately when SOMEONE starts RANDOMLY capitalising words in an internet post it's usually a SIGN they're a bit deranged.
"Woke mind virus"? (Score:2)
Heh, "woke mind virus". Is that were a conservative sees something they don't like (trans person, a bad movie, Haitians, etc) and start uncontrollably spasming out the word "woke" over and over again? Because I see that all the time nowadays and these people definitely don't look right in the head
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Why don't you just call him Elon?
Because calling it Elmo gets you bros all butthurt, which makes you know how every child that has ever encountered you has felt.
Look at yourself. I don’t know about every child, but I know when I see a grown-ass child pretending to be an adult. Gets bros butthurt? Apart from the homoerotic suggestion, what kind of goal is that to have? You really think history is gonna make room for your little “Elmo” footnote under his accolades and accomplishments?
An election happened. You lost. Grow the fuck up and get over it already. If you don’t, society will probably find an easy path to classifying TDS as a typ
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You really think history is gonna make room for your little âoeElmoâ footnote under his accolades and accomplishments?
You should probably live your life for you rather than for what a hypothetical historical puff piece coffee table book of the future might say.
Look upon my works, ye mighty, and despair!
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The grand master plan of crypto (Score:2, Interesting)
The plan for all cryptocurrencies isn't what they want to make you think it is. It's more sinister than the egalitarian image the crypto boys portray for it.
After the 2008 financial meltdown, cryptocurrencies were born out of it, declared to be the means by which people could be freed from banks/governments, and promised to avoid any such future meltdowns from happening ever again.
But the crypto boys watched closely the result of that meltdown, and formulated their plan: create a new form of currency, and
Re:The grand master plan of crypto (Score:5, Interesting)
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Which is why you posted anon, provided no links to read, and provided nothing of value to the conversation?
Please.
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isn't it weird that this article is provided by "slashdot staff" and some inane anonymous retort has instant "5 insightful" status?
Bitcoin is still early (Score:5, Interesting)
It goes to infinity or zero.
Bitcoin has been very good to me. I donâ(TM)t get the shade and hate; I learned about it here a very long time ago.
Hodl.
Re: Bitcoin is still early (Score:2)
Jealousy is strong in the anti-Bitcoin community.
Re:Bitcoin is still early (Score:5, Insightful)
Bitcoin has been very good to me. I donâ(TM)t get the shade and hate
All gambling addicts say the casino has been good to them. The "hate" is just those people correctly calling out a speculative investment for what it is, pure speculation. You're free to do it, just don't pretend your investment is underpinned by anything more than hope, hope that the line goes up, hope that there's enough criminals out there fleecing the poor to keep the system moving, hope that people keep buying into the fantasy that it is the future of finance.
No joke last Saturday I threw 10EUR into a pokies machine because I was bored. I got 60EUR in return. I therefore recommend that *EVERYONE* start gambling. It's sooooo lucrative. - Sincerely, A Survivor.
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All gambling addicts say the casino has been good to them.
Exact;y. Deep denial and completely unfounded optimism are standard symptoms of gambling addiction. Gambling does not work out for almost everybody (but the addicts think _they_ will be the exception) and unregulated gambling does never work out for society. If you have 10 bankrupt people for everyone that became a millionaire, that millionaire will never be able to compensate the massive damage done and will usually not even be willing to try. Sure, homeless people _look_ cheap, but they are not, especiall
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I also found Bitcoin from the July 2010 Slashdot article, and it's given me quite the learning experience in finance and coding. For example, I taught myself FPGA programming, and in the process co-developed the first opensource mining hardware. I learned about fiat money as debt and all kinds of traditional investments. I also bugged Satoshi about making the code more portable, as it was full of x86/little-endian/Windows assumptions.
I think I've identified a few reasons why so many (lay)?people hate cr
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It will go to zero, or actually, it will go negative. Running a crapcoin-scam is expensive. At some point the influx of new fools will be too small to sustain it and the network of miners sustaining it will just vanish.
The only question is when. At that time for every dollar somebody made, somebody else will lose significantly more than a dollar. Many people will go bankrupt and that is a huge cost to society.
The only reason the morons and the immoral assholes that actually understand what is going on are
Thoughts? Yes: (Score:4, Insightful)
Thoughts, nocoiners?
My thoughts? Yes: that the Slashdot staff have a vested interest in cryptocurrencies. [slashdot.org]
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They asked, I answered. Tough shit if you're offended.
Correct. (Score:5, Informative)
Slashdot got bought by B i z x which appears to be a crypto scam company based on tax evasion.
They're using the "Lameness filter" to censor their own company name. That's how bad it is. No spaces.
Greater Fool Theory (Score:2)
If you can find a greater fool, then more power to you.
No matter what it sells for, it's still worth less than a tulip bulb \_()_/
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It is exactly worth nothing outside of organized crime (money laundering). As soon as society decides the constant increasing drain from cybercrime has become unacceptable (it is currently about 5% of _everybodies_ yearly income in Germany, for example), that one use will vanish and it will crash to zero.
Re: Tulips decay (Score:2)
Also, no one paid huge sums for tulips. They paid huge sums for tulips futures. It was an early example of what happens when markets are applied to an asset that doesn't require actual delivery of anything. Tulips craze has far more in common with the 2008 financial crisis than it does Bitcoin.
Been kicking myself (Score:2)
every time I remember seeing bitcoin for sale on ebay for about a nickel and thinking, "Why waste my money?"
Now it begins... (Score:2)
Bitcoin has "value" for one reason only: the maximum number of units (coins) in circulation at a given time is mathematically limited. In theory this makes BTC an inflation-proof asset. But now that speculators are trading stories of the fortunes they made, or missed making, as BTC ascended, they are becoming aare that othe cryptos gpw been minted, using the same math as BTC.
So right now, there are two tribes of utter fools flooding social media. One tribe crows "I hold Bitcoin, and it's now over $100K. I'm
Re: Now it begins... (Score:2)
Bitcoin has already been around for twice as long as the 1929 bull run. How many decades of Bitcoin not crashing and burning do you suppose there have to be before you admit you are wrong?
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Bitcoin has "value" for one reason only: the maximum number of units (coins) in circulation at a given time is mathematically limited. In theory this makes BTC an inflation-proof asset.
Actually, no. That theory assumes at least some solid real-world value. Bitcoin has no legitimate value and actually costs quite a bit to even keep going. It does have some criminal value for money-laundering for organized crime. But as ransomware and the like becomes far too much drain on the economy, that use will go away at some point, and then it will be completely without value.
I'm a nocoiner (Score:5, Interesting)
And this is the best, most genuine article post in a good long time. Just taking the piss and having fun. Cheers
”nocoiners” (Score:2)
Are we trying to stir the pot, so-called editors?
In any case, the “value” of bitcoin is and will always be arbitrary. The fact that you can make money from it, and the fact that some people have made a LOT of money from it, is no proof of value; fundamentally, it’s no different from gambling or a Ponzi scheme.
There may well still be plenty of money to be made on the coin. That’s fine, go nuts. I’ll keep my money in something with potentially less upside but definitely less down
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And there is another thing: For anybody that made a dollar on crapcoins, somebody else will lose more on them. Running a crapcoin-scam is not cheap and a lot of the money just goes to heating up the ecosphere. That money is irretrievably lost.
Remember the South Sea Bubble (Score:2)
And the Tulip mania.
Those both ended with the collapse of their prices and a lot of economic damage. Is there any good reason to believe: 'This time will be different?'
Re: Remember the South Sea Bubble (Score:3)
Because tulip mania lasted less than one growing season, while Bitcoin has been rising for 16 years.
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Is there any good reason to believe: 'This time will be different?'
Obviously, there is not. The other thing that is not different is that too many people are still idiots. Obviously, most of the "investors" will not recover their money, let along make a profit. And then many will become a burden on society.
Bitcoing gamblers whut? (Score:2)
Bitcoin has no intrinsic value. It has a price though.
That price is 100% based on NOTHING OTHER THAN what will someone pay for it tomorrow, which hopefully is more than I paid for it today.
Yes and in Monte Carlo, Macao, Las Vegas, the price of the next roulette wheel spin is the same.
This is news (or "slashdot news") why?
F all the cryptobros. It's just gambling someone tomorrow is stupider than you're smart today. Period. Sure, it's unregulated. So is my handshake at a bar before I take your fiver or
I spent my BTC (Score:2)
Back when TigerDirect began accepting it as a means of payment, I spend about half a Bitcoin on an Intel NUC. I still have that computer around somewhere. I'd have to say, for a $50k computer, it's kind of underwhelming.
In hindsight, I should've taken my own advice [slashdot.org] and held onto my Bitcoin until it was worth enough to buy a Tesla. C'est la vie.
How did anyone think it Money? (Score:2)
Bitcoin is strictly a commodity. It might be safer than gold to own. But money as a medium of exchange - currency Bitcoin is not. abitcoin is behaving more and more like a Pink Sheet security offering - a Box Job they call it. Where a set limited number of shares are not available or traded. Scarcity artificially inflates and then suddenly at a future high price securities( stocks) are pulled out of the box entered and exchanged for real cash — money.
That’s Bitcoin
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Gold cannot crash to zero. Gold has about half of its market price as solid industrial usefulness. Crapcoins can crash to zero at any moment.
If you weren't sure crypto is a scam (Score:5, Informative)
Trump himself called it a scam, and now he's all for it. And if there's one thing you can be sure of, it's that this profoundly unprincipled man will back anything sketchy that can earn him a buck.
It's gaining "value" solely because scammers are banking on the chief scammer running the scam from the White House.
It's utterly disgusting, and as always, it's hard-working Americans who produce actual value who will probably lose out in the end. But hey, they're also the ones who voted the damn convicted felon in office.
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Trump himself called it a scam, and now he's all for it.
Trump is happy to flip-flop to any position that will win him more votes. That's why he's anti-abortion now, and why he favors Bitcoin.
A certain percentage of the population was willing to vote for him because of that, and probably nearly no one voted against him because of it.
Why do all the coiners care (Score:5, Insightful)
about coin to dollars conversions?
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Because they recognise these "coins" for what they are: Nothing more than a speculative investment. The fact that cryptobros themselves stopped calling them currencies tells you everything.
Thoughts nocoiners? (Score:5, Insightful)
I'm not really a nocoiner, but.. (Score:3)
I don't "coin" but I'm not against it, either. As I usually say, I think Bitcoin is a "neat idea."
But Bitcoin is still nearly useless, and for something to be this old and still not having stabilized, is sign of badness. I don't expect it to be "pegged" to the dollar but it's shown itself to be so volatile/independent (it ain't the dollar's value which is changing this fast) that I think the ever-changing exchange rate is based in some kind of unreality or deficiency.
Euros, for example, don't do this.
Re: Thoughts, nocoiners? (Score:2)
For long term holding, wait for the bubble pop (these happen on a 4 year cycle), which should be sometime next year. The post bubble low will likely be in 2026-2027, and prices will likely get down to the $60-70k range. For short term gains, now's a good time to buy, but you'll need to prepare yourself to get out after the pop. It's impossible to know ahead of time precise timing, but drops less than 35% off the all time high may just be temporary blips on the way up. Nothings perfect, but the Bitcoin Pi Cy
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Or alternatively, it will crash to zero. Your optimism is uninformed and fake. Ever wondered why there are so many penny-stocks? Same thing happened there. Again and again and again.
Re: artificial scarcity (Score:2)
Just like gold coins. All worthless now that the fad is over ...
Re: why are my ugly monkey NFTs so worthless? (Score:2)
Why would they be worth anything?
Blockchain doesn't make Bitcoin valuable. The economics, fungibility, utility, market cap, security, and trust makes Bitcoin valuable. Your stupid monkey JPG isn't valuable because it provides nothing of value.