21–30 of 43 posts
This is really clickbaity. The title implies Bitcoin just rapidly fell in value. It's been slowly declining all year, and is still nearly 10x where it was last year.
Going from 20k to 5k seems like a crash to me...
This is really clickbaity. The title implies Bitcoin just rapidly fell in value. It's been slowly declining all year, and is still nearly 10x where it was last year.
It's serious for miners, if I remember correctly - bitcoin is only profitable at ~7000$. But it's quite a bit below that now.
It's a clever aggregate system. Bitcoin is always worth what it costs to get it, which at root is relative to the aggregate effort deployed in the bitcoin system in 10 minutes.
10 minutes is a 'turn' in Bitcoin. Everything is relative to what can be done in that amount of time. Perhaps the inventor was an old school D&D player.
According to such articles bitcoin has been crashing for nearly 10 years. The problem often being it being compared to other assets. It's a totally new concept and has never followed any previous pattern in human history.
Crypto market caps move rapidly in either direction. They're extremely volatile. And this is nothing new. BTC has had much bigger dips before (% wise) and it will have more peaks and valleys as time goes on.
Hmm, I'm not sure this will end cryptocurrencies but I think it might make some of the less tech-savvy users really think about their investments and who is giving them what advice. I have a small holding that I've held for a while now and I like that but when BTC/ETH was reaching their highs and I had non-tech people buying into it because "it has to go up" had me rolling my eyes. It almost feels like people that ar…
Never invest in something you don't understand.
I have no idea if this will end the madness but I hope it will. Given bitcoin's vast energy consumption, the "production" of bitcoins produces enough pollution to be responsible for a significant number of deaths, amortized. [1] Thus I have zero sympathy with those who may lose money here. [1] https://www.forbes.com/sites/shermanlee/2018/04/19/bitcoins-...
I have no idea if this will end the madness but I hope it will. Given bitcoin's vast energy consumption, the "production" of bitcoins produces enough pollution to be responsible for a significant number of deaths, amortized. [1] Thus I have zero sympathy with those who may lose money here. [1] https://www.forbes.com/sites/shermanlee/2018/04/19/bitcoins-...
I've spit-balled this with some coworkers- but- I think that conceptually, the idea of our world cooking because of block chain is a great idea for a sci fi.
This is really clickbaity. The title implies Bitcoin just rapidly fell in value. It's been slowly declining all year, and is still nearly 10x where it was last year.
It's serious for miners, if I remember correctly - bitcoin is only profitable at ~7000$. But it's quite a bit below that now.
You can also use a mining calculator to do a real time spot-check of whether Bitcoin is profitable to mine or not as well (even if you have pretty average electricity prices, very much so): http://whattomine.com/asic?utf8=%E2%9C%93&sha256f=true
For those interested in the most accurate and in-depth analysis on the economics, power consumption, and other aspects of Bitcoin mining, I can highly recommend @mrb's writeups like http://blog.zorinaq.com/bitcoin-electricity-consumption/ and http://blog.zorinaq.com/morgan-stanley-bitcoin-research-repo...
Note that the original article/title is pretty flawed to begin with since there are no tokens that depend on Bitcoin mining to begin with! (90% of tokens by market-cap are based on Ethereum, mining which is even more profitable than Bitcoin, and the economics of which will be changing drastically w/ Casper V2 soon).
Hmm, I'm not sure this will end cryptocurrencies but I think it might make some of the less tech-savvy users really think about their investments and who is giving them what advice. I have a small holding that I've held for a while now and I like that but when BTC/ETH was reaching their highs and I had non-tech people buying into it because "it has to go up" had me rolling my eyes. It almost feels like people that ar…