Earlier quoted context omitted.
Most of them can. The USD likely can not
And if you don't have access to USD? Everyone with a computer or even a phone has access to BTC.
Not everyone has access to a computer or a phone, though.
Bitcoin’s plunge intensifies, tanks 30% to $30k in single day
191–200 of 211 posts
Re: Bitcoin’s plunge intensifies, tanks 30% to $30k in single day
#192Earlier quoted context omitted.
You'll listen to Bitcoin FUD all day but you don't seem to care about the hydro carbons purged in the process of strip mining the earth for shiny rocks though. https://www.nasdaq.com/articles/why-bitcoin-may-actually-spe...
Nothing the previous poster says implies that they are okay with wasting energy in other ways and it in no way diminishes the fact that Bitcoin (and other PoW cryptocurrencies) use a _lot_ of energy.
Why is energy usage that important? Isn't the issue that society allows energy creation through fossil fuels? Like the sun 'uses' 384.6 septillion watts.
Re: Bitcoin’s plunge intensifies, tanks 30% to $30k in single day
#193Earlier quoted context omitted.
remove 2 and 3 and you have an accurate list. Electricity and compute don't drive the value of bitcoin, they follow it.
Actually the cost of mining puts a soft price floor on Bitcoin. When prices touch the cost of mining, they face heavy resistance since miners rage quit at that point
Not really, the supply of bitcoin is, except in the short term (< 2 weeks), independent of the amount of mining effort. And that's all that really matters (especially because there's no single price where all miners stop making a profit, and miners will continue to mine and sell even when they are no longer making a profit just to lessen losses on hardware).
Re: Bitcoin’s plunge intensifies, tanks 30% to $30k in single day
#194I bought my bitcoin for under $10,000 about a year ago. No tears here. How has your fiat performed in comparison?
What did you sell it at?
Re: Bitcoin’s plunge intensifies, tanks 30% to $30k in single day
#195It gets harder every day to take seriously the people that say this is a viable currency alternative
It does very well for anyone who uses it as a store of value over a long time span. It's obviously not a currency, there are other coins for that.
That is too optimistic of an opinion for me. It has done very well so far
Re: Bitcoin’s plunge intensifies, tanks 30% to $30k in single day
#196What's the opposite of "to the moon"?
- Actually, I invest in Miami condos
- Tacitus and Sun Tzu are the real investments
- I shouldn't tell you this, but: Optogenetics/plastics/Barca-coin
I'm sure there are others.
Re: Bitcoin’s plunge intensifies, tanks 30% to $30k in single day
#197Earlier quoted context omitted.
These are some heavy assertions here. How would Bitcoin protect against any of that? The government already tracks who buys Bitcoin by having all points of purchase of USD Bitcoin require proof of identity, and they can obviously look at the blockchain to get all the transaction made by each individual. Let's be realistic for a second. All it would take for the government to forfeit your bitcoins is a $5 wrench [1].…
For a long time, you could achieve that through localbitcoins or similar (not sure what the situation looks like now). You have tools to achieve some degree of anonymity, and there's other currencies that deal with that aspect of things better. Well-regulated exchanges are part of an effort by (usually VC-backed) startups to legitimise making money off of cryptocurrencies, rather than a core part of the original etho…
I don't understand the anonymity argument.
Cash is already anonymous - the act of transferring cash from one person to the other is anonymous. While bills have serial numbers, it is impossible to see who owns all the bills at any moment in time. One can only trace specific bills if they've been marked and then found.
Bitcoin transactions are not only recorded, but linked to each other uniquely. It's a government's dream to be able to track all your payments everywhere. It's the opposite of anonymity. Even if you manage to buy bitcoins from someone anonymously, if you _ever_ make a transaction that identifies you (such as paying with Bitcoin at Starbucks where a security camera can run facial recognition) they can trace where your bitcoins came from and then look at all other transactions you've ever made.
That situation is not better than fiat. It's an objectively worse situation for preserving your anonymity.
Re: Bitcoin’s plunge intensifies, tanks 30% to $30k in single day
#198Earlier quoted context omitted.
Clearly it’s failed at being a stable value
It's impossible for any currency to be stable in the period before it gains mainstream acceptance. Fiat currencies share the same fate
The fundamental problem with BTC's stability is why spend it today if tomorrow it will be worth +20% more?
Re: Bitcoin’s plunge intensifies, tanks 30% to $30k in single day
#199Earlier quoted context omitted.
You'll listen to Bitcoin FUD all day but you don't seem to care about the hydro carbons purged in the process of strip mining the earth for shiny rocks though. https://www.nasdaq.com/articles/why-bitcoin-may-actually-spe...
This is pure garbage. The problem bitcoin solves, a distributed ledger, is one that's simply solved with a ledger over a trust network. In otherwords, this is a "solution" that is burning TWh of energy doing something global banks accomplish with kWh of power. All the power funneled into BTC would be far better spent doing anything useful. From electrolysis to protein folding. Also, it should be noted that shiny rock…
Please don't respond to a bad comment by breaking the site guidelines yourself. That's the way threads turn into downward spirals.
Re: Bitcoin’s plunge intensifies, tanks 30% to $30k in single day
#200Earlier quoted context omitted.
>I just think it has no value. Don't use it then, but why would you also disparage the millions of people who are happily finding value in it? >Just because someone does something first, doesn't mean that thing is useful or good. Well done creating your amazing straw man.
> Why would you also disparage the millions of people who are happily finding value in it? Because it's an environmental disaster causing a bunch of modern issues and the defenders are being annoyingly naive about. BTC uses a ton of power, requires a ton of equipment. They solve a problem with TWh of power that is simply solved globally with kwh of power. It is beyond wasteful. > Well done creating your amazing straw…
BTC encourages figuring out the price of power which is an environmental goal because if that power produces greenhouse gases a carbon tax should apply. The loophole is the same loophole that allows some nations to keep pumping gas house gases without paying for the environmental cost.
BTC isn't bad for the environment carbon poluting energy is. Energy from non-carbon freeing sources makes bitcoin a greencoin. We need to fix where we get energy from and price it accordingly. BTC exposes this.