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Market cap implies number of shares times price per share.
Millions of bitcoins are probably lost forever
overabundance of gamblers
Everything in life is a gamble
just_passing_through says
Everything in life is a gamble
No.
There are investments that take capital and labor and produce something useful.
Bitcoin consumes capital and labor in the hope that some greater fool will pay to keep the system going.
No product. No service. Just a resource suck.
I still say Bitcoin is a social experiment.
The only crypto I have is about 8300 dogecoin. I bought at 3 cents and had already cashed out my cost basis of $500 when dogecoin was at 50 cents after peaking to around 70 cents. I'll sell when dogecoin gets to $100 or $0.01.
https://www.forbes.com/sites/digital-assets/2024/04/21/bitcoin-halving-triggers-unprecedented-crypto-chaos-as-price-suddenly-surges/?sh=2473f3995804
So-called bitcoin miners secure the bitcoin network and process transactions in exchange for newly minted bitcoin and transaction fees via powerful computers that are believed to use as much electricity each year as some small countries
We will need to generate twice the power we do to handle the rapid re-industrialization going on in the US. That means bullshit power consumption like bitcoin and EV charging is going to be taking a back seat, one way or another.
https://arstechnica.com/tech-policy/2024/07/everythings-frozen-ransomware-locks-credit-union-users-out-of-bank-accounts/
Security expert Ahmed Banafa "said Tuesday that it looks likely that hackers infiltrated the bank's [Patelco credit union] internal databases via a phishing email and encrypted its contents, locking out the bank from its own systems," the Mercury News reported. Banafa was paraphrased as saying that it is "likely the hackers will demand an amount of money from the credit union to restore its systems back to normal, and will continue to hold the bank's accounts hostage until either the bank finds a way around the hack or until the hackers are paid."
Change Healthcare, a health payment processing company hit by ransomware this year, told lawmakers that it paid a ransom of $22 million in bitcoin.
Expect a jump in the price of bitcoin
So by 2028, it will take no more than 2 BTC to be equivalent to a median new US home price ?
Assuming enough fools can be found to support higher prices.
The Mooch on Bloomberg TV recommending to have 1 to 3% of your assets in a Bitcoin ETF, because its safer than holding Bitcoin through a digital wallet.
Everything I heard is that Bitcoin holds value when the currency devalues
Logically, How can that be?
Crypto is valued in fiat.
When you buy crypto you pay in fiat.
When you sell crypto you get paid in fiat.
Kind of like gold.
But it is not gold.
"They" like bitcoin because they can charge $85 on an $8 transaction. It's tailor-made for middlemen. You thought real estate commissions were bad? Try bitcoin transaction fees at 15X higher.
stereotomy says
"They" like bitcoin because they can charge $85 on an $8 transaction. It's tailor-made for middlemen. You thought real estate commissions were bad? Try bitcoin transaction fees at 15X higher.
Yeah you bring up a good point about the Bitcoin miners charging for a fee to verify and process a Bitcoin sale.
From what I've read, there will be enough competition among the Bitcoin miners to make the fee reasonable like charge a 1% fee for the Bitcoin sale.
Right now it's HODLers and speculative banks.
Right now it's HODLers and speculative banks.
Its about adoption, which is about the Blackrock's and Fidelity's getting its retail investors to buy their Bitcoin ETFs.
AD says
Its about adoption, which is about the Blackrock's and Fidelity's getting its retail investors to buy their Bitcoin ETFs.
No. It's about service fees on the accounts. You get 1 million bitcoiners and you buy it for them and charge monthly or annual service fees for holding bitcoin for you that you'll never be able to access. If it goes down, you lose the money not Blackrock or Fidelity.
I was saying its about adoption by the masses of retail investors, and that a Blackrock makes it easier for them to invest in Bitcoin through their ETF just like its easier to invest in gold and silver through ETFs then to actually hold the gold and silver such as in a home safe, bank safety deposit box; as well as the ETF has more liquidity as I would have to find a physical buyer for the silver coins and conduct the transaction in person.
Will it only take 2 Bitcoins when the next halving occurs around 2028 ?
Why not just pay cash?
long term asset like gold, silver and Bitcoin.
but yes, buy with cash the diesel or gasoline at the gas station pump for your vehicle
Better off going to Vegas over BTC. Or just put your money in funds that pay dividends and are likely to appreciate. Sit back and relax.
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https://www.vox.com/2018/4/24/17275202/bitcoin-scam-cryptocurrency-mining-pump-dump-fraud-ico-value