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Ah, the main application of Bitcoin - ransomware - is now more lucrative then ever.
Well, bitcoin has many legitimate uses like buying drugs or evading taxation
At least, Bitcoin can't be printed and not centralized like a government-controlled money.
Bitcoin is not perfect, also not fully decentralized either, but still much better than more-centralized fiat which are government-controlled and are still used for all the harmful purposes already.
Are there theories why Trump getting elected caused such a spike? Expected sanctions devaluing other currencies, higher risk of conflict (eg Iran -Israel/US war) causing economic instability, ... ?
I’m probably wrong though.
as someone who follows crypto its crazy how much US dominates the prices during euro/asian hours price will go sideways or go down, then during US hours you get the huge moves up or down i'm guessing all financial markets are like that. it's like US is a behemoth
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Duplicate comment from the other thread: 11 years ago I sold 100 BTC, and made pretty good money. With that said, the more I think about BTC, the less sense it makes to me. Exceedingly few people actually use it for anything practical. The “store of value” functionality has completely eclipsed the practical use that Bitcoin maxis were preaching back then. Since 2016-2017, it seems like people have bought it for the s…
>Also, when I ran the numbers some time ago, I figured a realistic max value for 1 BTC would be 500k-1M In what units? What makes you think there won't be Argentina-style inflation of the USD?
as someone who follows crypto its crazy how much US dominates the prices during euro/asian hours price will go sideways or go down, then during US hours you get the huge moves up or down i'm guessing all financial markets are like that. it's like US is a behemoth
Seems unlikely tho for this reason.
Never understood this kind of sensational statements without inflation adjustment. Although does not make difference in this case, but all these claims "X has never been this expensive" often ignore inflation adjustment; render them meaningless.
Duplicate comment from the other thread: 11 years ago I sold 100 BTC, and made pretty good money. With that said, the more I think about BTC, the less sense it makes to me. Exceedingly few people actually use it for anything practical. The “store of value” functionality has completely eclipsed the practical use that Bitcoin maxis were preaching back then. Since 2016-2017, it seems like people have bought it for the s…
>Also, when I ran the numbers some time ago, I figured a realistic max value for 1 BTC would be 500k-1M In what units? What makes you think there won't be Argentina-style inflation of the USD?
1) A very high (BTC/USD) rate will come from HUGE whales hoarding BTC. Like governments creating crypto reserves, and purchasing BTC in the magnitude of tens of thousands to low million (US have talked about purchasing a million).
2) BTC will never be a currency that is used for huge worldwide transactions, for things commodities like oil, gas, etc. No serious country will give up control of their currency like that, especially not US that will literally go to war if things aren’t purchased in the Uas dollar
3) Likewise, countries will not adapt BTC as their currency, if they cannot control the supply 100%
4) If BTC becomes too competitive, it will be fairly easy to regulate it into being too unattractive.
Those are my macro views.
I think it will continue to be some asset that competes against silver, gold, etc.
Ah, the main application of Bitcoin - ransomware - is now more lucrative then ever.
Well, bitcoin has many legitimate uses like buying drugs or evading taxation