Bitcoin explosion and ALT coins thread

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kenetics said:
There's a big difference from last time because of multiple institution involved. There's competition between them to buy all the bitcoin that is mined every day.
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Yes and no imo. There was still huge money involved last time. This time its a time bit more secure no more MT Grox. OK no even that far back, like 2 years ago it did a similar pattern.
 
thoughtsone said:
Yes and no imo. There was still huge money involved last time. This time its a time bit more secure no more MT Grox. OK no even that far back, like 2 years ago it did a similar pattern.
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It was pushed by retail investors and speculation.

No legitimate bank, hedge funds and other big institutional were speaking publicly about bitcoin.

Jaime diamond from chase bank was talking mad crap about bitcoin and that he would fire any employee for buying it. Now he's a big supporter of bitcoin and even making a division for crypto.

The funny thing is I knew these big money guys were buying up bitcoin even though they wouldn't admit it lol.

I kept accumulating knowing this. I'm glad it payed off
 
kenetics said:
It was pushed by retail investors and speculation.

No legitimate bank, hedge funds and other big institutional were speaking publicly about bitcoin.

Jaime diamond from chase bank was talking mad crap about bitcoin and that he would fire any employee for buying it. Now he's a big supporter of bitcoin and even making a division for crypto.

The funny thing is I knew these big money guys were buying up bitcoin even though they wouldn't admit it lol.

I kept accumulating knowing this. I'm glad it payed off
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Schwab was. A few others on and off, the treasury, certain speculative investors. There was lots of money moving around but they purposely tanked it. They can't (hopefully) do that now.
 
thoughtsone said:
Schwab was. A few others on and off, the treasury, certain speculative investors. There was lots of money moving around but they purposely tanked it. They can't (hopefully) do that now.
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Agree. I learned early how the whales would manipulate the people to sell. Then they would buy even more at a cheaper rate.

I held through all those mind games lol
 
I keep on extracting money down to about 200% of my total investment. (In other words, if it gets to 210%, I take 10% out.) Been doing this for the last week and I got my total investment out already and some interest. I'm just going to keep on doing that until the next crash and ride the rest.
 
kenetics said:
Agree. I learned early how the whales would manipulate the people to sell. Then they would buy even more at a cheaper rate.

I held through all those mind games lol
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So you have not made any real money?
 
kenetics said:
There's a big difference from last time because of multiple institution involved. There's competition between them to buy all the bitcoin that is mined every day.
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Plus that are 50% less bitcoin mined per day compared to 2017
 
My2Cents said:
Plus that are 50% less bitcoin mined per day compared to 2017
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What is the current cost of mining a bitcoin. When it was $18000 a couple of years ago there was speculation that the cost of mining was almost equal to the value (computing cost + energy costs).
 
therealdope said:
What is the current cost of mining a bitcoin. When it was $18000 a couple of years ago there was speculation that the cost of mining was almost equal to the value (computing cost + energy costs).
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I remember in 2012 or 2013 I had a friend who was renting a house where the electricity was covered, and he used student loans from med school and some money from his family to set up a room full of GPUs for mining. I have no idea how many he farmed or made. When I asked him back when it first shot to $20k, he just said he hasn't made much, which was obviously a lie. All I know is that he is not working as a doctor now.
 
therealdope said:
What is the current cost of mining a bitcoin. When it was $18000 a couple of years ago there was speculation that the cost of mining was almost equal to the value (computing cost + energy costs).
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impossible to say, as this is changing everyday. At the moment it’s not profitable anymore, some miners will switch their machines off until the price rises and makes mining profitable again, OR the difficulty changes in such way (because miners leave) that it becomes easier (basically less costly) to mine.

It’s a beautiful / genius eco system
 
Current reported costs of mining a single bitcoin range from $7000 - $10k. Costs are estimated soon to climb to $12k.

What I finda bit shocking is that it is estimated bitcoin mining consumes 1% of the world's energy!!
 
rj144 said:
I keep on extracting money down to about 200% of my total investment. (In other words, if it gets to 210%, I take 10% out.) Been doing this for the last week and I got my total investment out already and some interest. I'm just going to keep on doing that until the next crash and ride the rest.
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This a clever strategy IMO/
 
Wait. This is actual money... like going to a bitcoin ATM?

eq0Cr5.gif
 
Etheureum has went up like crazy! 17.52%

It's over 1200$ and was in the $900 range just a day ago.

Bitcoin as well. 43k right now.
 
Ethereum wants to get to $1k. It's made a few runs already today.
 
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