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Bitcoin Falls Below $20k for the First Time Since 2020
41–50 of 218 posts
Re: Bitcoin Falls Below $20k for the First Time Since 2020
#42Dumb money drying up?
It was always a bet on human stupidity+greed. If you are bullish on Bitcoin, it means you think the greatest fool hasn't yet been found
Re: Bitcoin Falls Below $20k for the First Time Since 2020
#43Earlier quoted context omitted.
I’d still wait if I were you. That’s a red hot used market that Lovelace still needs to sell into. The drops aren’t done yet.
Are used graphics cards worth buying or does bitcoin mining cause significant wear and damage to them?
Bitcoin mining is done with ASICs, not GPUs afaik. It's other currencies like Ethereum that use GPUs. I don't know what the extent of damage is though.
Re: Bitcoin Falls Below $20k for the First Time Since 2020
#44Re: Bitcoin Falls Below $20k for the First Time Since 2020
#45Considering Bitcoin had never fallen lower than a previous cycles ATH (All Time High) until now, who is thinking that this might be a sign of the end of crypto? Each cycle goes higher was pretty much the only thing that kept the whole thing going. Now that is gone I think the space will dry up. Tether collapsing in the next couple weeks will likely put Bitcoin under $10,000
While I appreciate that's somewhat psychologically important, I don't think it's magically going to drop to zero now.
It's not going to 'magically' drop to zero. It is going to drop to zero.
Re: Bitcoin Falls Below $20k for the First Time Since 2020
#46Down $42,000 since the “Fortune Favours the Brave” commercial - which is famously something Pliny said before setting sail for Vesuvius as it was erupting, and then dying.
“History doesn't repeat itself, but it often rhymes” – Mark Twain
The earliest match for this popular quotation appeared in an essay by Theodor Reik in 1965. Currently, he is the leading candidate for coiner of the saying.
Re: Bitcoin Falls Below $20k for the First Time Since 2020
#47Re: Bitcoin Falls Below $20k for the First Time Since 2020
#48I've heard of signs that Tether could collapse too. I guess that would be the Lehman Brothers for crypto?
Re: Bitcoin Falls Below $20k for the First Time Since 2020
#49Earlier quoted context omitted.
I’d still wait if I were you. That’s a red hot used market that Lovelace still needs to sell into. The drops aren’t done yet.
Are used graphics cards worth buying or does bitcoin mining cause significant wear and damage to them?
No. Properly maintained card in a mining rig is usually in a better condition than the same card that has been used for gaming, simply because it was less often thermally stressed.