patrick.net

Just because you can make money off of something does that mean you should?

https://earthweb.com/cryptocurrency-statistics/?source=patrick.net
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70. Bitcoin Is in The Top 30 of Entities that Use Energy in The World
And the rest of the entities in the top 30 are countries.

71. The Amount of Carbon that Bitcoin Miners Emit Is More than The Entire Country of New Zealand
This includes industrial, power, commercial, and transportation emissions.

72. Bitcoin Uses the Same Amount of Energy as All Worldwide Data Centers
This stat shows that Bitcoin is taking up a lot of the world’s energy.

73. Bitcoin Mining Surpasses Gold Mining in Energy Intake
This means that mining for Bitcoin takes up more global carbon emissions than mining for gold.
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Does posting this make me a hater?

I'm going to go copy it to the hater thread.

Onvacation says

you should?

Good enough, as far as that goes.

But does that also mean that you're against trading (or buy 'n hold) mainstay stalwarts like let's say Altria or British-American tobacco, both of which give great dividends but also add to the smoking addiction problem with society?

Can you name me a “currency” that only works when electricity is on, the internet is working unrestricted and a user has time to wait for a ledger to process enough ones and zeros? Yeah, that seems like a great idea. No matter what anyone says you should buy that one, people are going to love it! Elon Musk bought it so it must be legit. And look, trading analysis, see I told you it was legit!!

Rin says

All and all, that's a bullish market with a high amount of sentiment on the upside. So until we see a general overall market meltdown, I'm not calling curtains on the cryptos.

IMO it all rides on USD demand which is very strong unlike the false opinions from nearly every angle USD is the main counter trade and it's strong holding down for the time being commodities, crypto and the other major 7 fiat currencies as a whole, but not for much longer as we see commodities jumping at the bit this last week .

This is my thought on the matter, the inflation we are experiencing up to this time is mainly due to the supply chain predominately and we haven't even experienced the inflation a truly weak USD will bring that being the commodities super cycle bull market and will no doubt imo include crypto In this chart notice DXY price riding a top of the UBB which is very strong and I have little doubt it will test that spike near the top and then start to really roll over.



I believe the USD demand is due to all the institutions trying to close all those commodities short contracts before this happens to them all, and it will if they don't deal
and where do you think all that money is heading. https://markets.businessinsider.com/news/commodities/nickel-price-short-squeeze-chinese-tycoon-lost-billions-presses-bet-2022-3?source=patrick.net

Crypto is way larger then just BTC which is not the currency that is likely to be on the top list for a reserve currency what so ever.
But rather the initial path to the 4th industrial revolution with blockchains and all the protocols and unlimited applications that will be developed because of BTC.

https://crypto.jobs/?source=patrick.net
Just look at all the diverse companies looking to benefit from crypto....

Rin says

Can we have a non-hate mail vs fanboy thread on trading Bitcoin?

Can we have a title more inclusive to the crypto market in general and not center on BTC? Like I said Crypto is way larger then just BTC

PeopleUnited says

Can you name me a “currency” that only works when electricity is on, the internet is working unrestricted and a user has time to wait for a ledger to process enough ones and zeros?

Your fiat at the bank is not immune just ask the Canadians and Russians when the ones and zeros was turned off at their banks.

If you want to understand, then read the book "A random walk down wall street". If your trading bars strategy with 50 day moving averages worked, you would be a billionaire, with people piling in money for you to continuously beat the market.

This isn't a throwdown, or "hate mail". This is simple statistic analysis of trading across a wide variety of income producing assets. The book "random walk" covers speculation. Speculation is what the purchase of bitcoin is: a non-producing asset gamble on someone else buying it for a higher price. This isn't hate or drama. It's just a simple fact. Gold is also a non-producing asset. But it is also a commodity. It has a utility outside its use as a traded asset.

People speculate, purchase for use, and hedge (inflation) with commodities. Statistically, some speculators win, and some lose. Also statistically, over time, speculators in non-productive assets on average get lower returns on their speculative bets. Again, not hate, or debate, just simple fact.

With bitcoin, once again, people have gotten speculative fever, and have lost track of the simple math about investing in productive vs non-productive assets. So as with any speculative mania, some people will win, and some people will lose. This is just simple historical fact. And on AVERAGE, overall those speculating in bitcoin will do worse than those investing in productive assets.

A few of us are simply here to remind people of this simple mathematical truth so they don't lose their head, and waste their hard earned money, or worse, propagate the waste on their fellow man with simple bad math.

Zak says

Speculation is what the purchase of bitcoin is: a non-producing asset gamble on someone else buying it for a higher price.

I think it's betting that Bitcoin (or other cyber currency) will become a significant currency in the world verses governments will persecute people who own or use it because it is a threat to the government losing control of the nation's currency. So, it's in a different league of speculation than other non-producing assets.

SunnyvaleCA says

Zak says

Speculation is what the purchase of bitcoin is: a non-producing asset gamble on someone else buying it for a higher price.

I think it's betting that Bitcoin (or other cyber currency) will become a significant currency in the world verses governments will persecute people who own or use it because it is a threat to the government losing control of the nation's currency. So, it's in a different league of speculation than other non-producing assets.

Well said. It is essentially a bet that you are smarter than the globalists and better at timing markets than the other investors.

Pretty much everyone knows that in the future there will be a digital currency used around the world for day to day purchases. But if you don’t believe that, you could bet against it and buy BTC and try to sell it before it becomes obsolete ( Either by government intervention or collapse of the Ponzi scheme).

Governments hate bitcoin, banking oligarchs hate bitcoin, average people don’t understand bitcoin, and therefore unless bitcoin can win over government, bankers and the average person, it will lose, or rather investors in it will lose. Congratulations to those small number of individuals who have made real wealth from it but beware: HODLers will be left holding the bag.

Cash says

the commodities super cycle bull market

Are zeros and ones a commodity?

PeopleUnited says

average people don’t understand bitcoin,

And those that do would not touch it.

At least you can smoke tobacco.

Onvacation says

PeopleUnited says

average people don’t understand bitcoin,

And those that do would not touch it.

At least you can smoke tobacco.

Tell that bullshit to all these people they would get a big laugh

Crypto development Jobs out the ass!!! What an opportunity fortunately these people arn't so bias as to not see the truth.
https://crypto.jobs/?source=patrick.net
CryptoJobs is the #1 website for blockchain jobs. We believe the emergence of blockchain technology and decentralized applications will change the world as we know it, and it’s already happening. We’re on a mission to connect talented individuals to the best blockchain projects, to accelerate the advent of a more decentralized world.

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