Bitcoins - about to hit $5,000 per coin today!

[gib]

Its also that high degree of processing power needed that gives Bitcoin its security.

Gold is terribly environmentally unfriendly too, from mining to transport. Yes people love it. And for anyone of those complaining on social media, they should consider the irony of doing so, considering how environmentally unfriendly the entire internet is, (including of course Google) lol!

[obsidian]

Its also that high degree of processing power needed that gives Bitcoin its security.

Gold is terribly environmentally unfriendly too, from mining to transport. Yes people love it. And for anyone of those complaining on social media, they should consider the irony of doing so, considering how environmentally unfriendly the entire internet is, (including of course Google) lol!

That processing power is only volunteered because there is an incentive to payout BTC via mining rewards. So how will they be able to maintain that incentive once all BTC has been mined? Yes I know that is 100 years out. But the mining rewards will keep on reducing to the point where miners might stop because there is no financial incentive to pay all those electrical and equipment costs.

Some argue that Proof of Work is more secure than Proof of Stake. And others argue the opposite. What's easier to acquire? 51% of all the processing power or 51% of all coins staked? I would think it might actually be harder to acquire 51% of all the coins. More than 51% of all Bitcoin miners are in China. So what if they decide as a collective whole to be dishonest miners and compromise the security of the blockchain via a 51% attack?

I am not sure how the endgame works for Bitcoin. It needs these POW miners for the security. The miners need BTC payments as an incentive. Once all BTC has been mined or the rewards are vastly reduced what then?

[Griffith]

That processing power is only volunteered because there is an incentive to payout BTC via mining rewards. So how will they be able to maintain that incentive once all BTC has been mined? Yes I know that is 100 years out. But the mining rewards will keep on reducing to the point where miners might stop because there is no financial incentive to pay all those electrical and equipment costs.

Some argue that Proof of Work is more secure than Proof of Stake. And others argue the opposite. What's easier to acquire? 51% of all the processing power or 51% of all coins staked? I would think it might actually be harder to acquire 51% of all the coins. More than 51% of all Bitcoin miners are in China. So what if they decide as a collective whole to be dishonest miners and compromise the security of the blockchain via a 51% attack?

I am not sure how the endgame works for Bitcoin. It needs these POW miners for the security. The miners need BTC payments as an incentive. Once all BTC has been mined or the rewards are vastly reduced what then?

ETH 2.0 with proof of stake will use 99% less electricity so will be environment friendly in comparison.

Available supply of Ethereum will also be limited from 100 000 to a maximum of 2 million per year and burning will further reduce that amount another 1-4%.

[SOMEPARTS]

Its also that high degree of processing power needed that gives Bitcoin its security.

Gold is terribly environmentally unfriendly too, from mining to transport. Yes people love it. And for anyone of those complaining on social media, they should consider the irony of doing so, considering how environmentally unfriendly the entire internet is, (including of course Google) lol!

"yeah, yea see...it's actually worth more because it's a tech dinosaur" 

Ignore the sustainability issue at your own peril.

See Bill Gates recently on 60 minutes...would love to hear his take on crypto but he's too busy culling the population to be bothered.

[gib]

ETH 2.0 with proof of stake will use 99% less electricity so will be environment friendly in comparison.

Available supply of Ethereum will also be limited from 100 000 to a maximum of 2 million per year and burning will further reduce that amount another 1-4%.

Yes, ETH will eventually be free. And it cannot be limited if it is to scale. That should be obvious.

ETH is basically a smart contract protocol which will be free (and needs to be free to scale, and will all protocols that facilitate smart contracts. But, yes, proof of stake, if they can make it to work, will be more energy efficient. Remember, ETH code is open source, so anyone can easily take this to make smart contracts of their own.

Remember also, that operating a smart contract protocol should be efficient and easy. Whereas creating and protecting a Bitcoin (its utility being a store of value) naturally needs to be difficult, hence creating and securing its inherent value, scarcity, and incorruptibility.

[Griffith]

Its also that high degree of processing power needed that gives Bitcoin its security.

Gold is terribly environmentally unfriendly too, from mining to transport. Yes people love it. And for anyone of those complaining on social media, they should consider the irony of doing so, considering how environmentally unfriendly the entire internet is, (including of course Google) lol!

Gold and mining provides a considerable amount of employment and income to people, contractors and companies and contributes a large part to the national economy and currency.

Mining creates tangible things which are used to contribute to society and needed in production and industries.

The internet provides a large amount of work, services and income to people across the world. All the programmers, online stores, retailers, warehouses, websites for businesses, advertising, banking, video calls, faster communication etc.

[gib]

Which tells me Saylor believes a 250k price is coming in this current uptrend as the price after that peak is around 85k. Meaning the price today is probably the cheapest we will ever see it.

If he believed it was only going to 100k the future los would be around the 40k mark, he wouldn’t worry about buying more.......

Shit is going to get real very soon!

This uptrend 90% will get priced out. Next uptrend 99% will be priced out. It’s no joke now, the rocket ship is getting ready to leave.....

Looks like a decisive breakthrough thr 50K resistance level may be about to occur. Would be interesting to see where it next consolidates.

[gib]

Gold and mining provides a considerable amount of employment and income to people, contractors and companies and contributes a large part to the national economy and currency.

Mining creates tangible things which are used to contribute to society and needed in production and industries.

The internet always provides a large amount of work, services and income to people across the world. All the programmers, online stores, retailers, warehouses, websites for businesses, advertising, banking, video calls, faster communication etc.

Yep, for sure.

[Bindare_Dundat]

Boom

[Bindare_Dundat]

https://decrypt.co/57869/christies-to-auction-ethereum-nft-by-crypto-artist-beeple?&utm_medium=referral&utm_campaign=feed&utm_source=coinmarketcap

Christie’s to Auction Ethereum NFT by Crypto Artist Beeple

NFT marketplace MakersPlace has teamed up with Christie’s for the auction house’s first ever sale of a purely digital artwork.

If you ever needed another proof that non-fungible tokens, or NFTs, are conquering the world, you’ve got it: for the first time in its 250-years long history the renowned auction house Christie’s will be auctioning a digital artwork on its own.

Between February 25 and March 11, Christie’s will be selling “THE FIRST 5000 DAYS” by prolific digital artist Beeple.

According to CryptoArt.io, Beeple is currently the most profitable crypto artist globally as his NFTs have been sold for a combined amount of $8 million.

“This historic event marks a significant inflection point for both the digital art and the fine arts industry, bridging the apparent gap in the global recognition for digital art,” said MakersPlace CEO and co-founder Dannie Chu.

“Not unlike the advent of Street Art as a blue chip collecting category, NFT-based art is on the threshold of becoming the next ingeniously disruptive force in the art market. Christie’s is proud to be in the vanguard of this exhilarating movement,” said Noah Davis, Christie’s specialist in post-war and contemporary art.

As reported earlier by Decrypt, digital artists, such as Beeple and Pak, who is the second best-selling creator worldwide, earned nearly $12 million in January alone.

Meanwhile, the total value of the crypto art market is approaching a record $100 million—with over 70,000 artworks sold to date.

And still can't get over 2 grand. Don't give a shit about this garbage art and trading card nonsense. Pretentious billionaire collectibles.

[Pray_4_War]

$50,800 !!!!!!!

On our way to 55k !!!

We hit 51,000 !!!

[obsidian]

And still can't get over 2 grand. Don't give a shit about this garbage art and trading card nonsense. Pretentious billionaire collectibles.

You need to be patient. Ethereum has still outperformed Bitcoin the past year even with Bitcoin at $51,000. Don't get caught up with the big figure. Look at percentage increases. Go look at the charts.

Small corrections are healthy. Bitcoin struggled how many times to punch through $50,000? Ethereum has come close to breaking $1,900. It took a few tries to get past the ATH. Same thing for Bitcoin. Remember when Bitcoin dropped over $3,000 just a few days ago lol!

In 2017 Bitcoin started the year around $1,000 and didn't hit $2,000 until Mid-April. Also note that Ethereum lags behind Bitcoin moves. So I would expect an Ethereum move once Bitcoin has cooled off.

Remember cash is trash. People don't want cash. It will go into cryptos, stocks or physical assets. Not all of it will go to Bitcoin as we have seen for over 5 years now. If that was the case Bitcoin would have been the top performing asset and it has not. Ethereum has yielded a greater return on investment than Bitcoin the past 5 years. It Bitcoin goes to 60k big whoop. That's not a huge percentage increase.

[Pray_4_War]

[obsidian]

This guy thinks Ethereum is being artificially held back for the benefit of Defi projects. But he reckons that will only work for so long before Ethereum starts shooting up. He also speculates the reason Bitcoin crashed in 2018 was because of high fees and slow transaction speeds of up to a week. So what's different now? Why are high fees not holding Bitcoin back this time around compared to 2018? Or was it the Bitcoin futures that tanked the price?

[obsidian]

This is interesting...

[gib]

He also speculates the reason Bitcoin crashed in 2018 was because of high fees and slow transaction speeds of up to a week. So what's different now? Why are high fees not holding Bitcoin back this time around compared to 2018? Or was it the Bitcoin futures that tanked the price?

Last time around there was a fear BTC could not scale as a payment mechanism due to high fees. It is now known that day to day transactions will be done on 2nd layer networks, such as the Lightening Network that can handle thousands of transactions per second. So no longer as a concern this time around.

[obsidian]

Last time around there was a fear BTC could not scale as a payment mechanism due to high fees. It is now known that day to day transactions will be done on 2nd layer networks, such as the Lightening Network that can handle thousands of transactions per second. So no longer as a concern this time around.

Cool. Yes I read about that. That's an awesome development for Bitcoin. Ethereum has something similar - called the Raiden Network.

https://raiden.network/101.html#:~:text=The%20Raiden%20Network%20is%20an,%2C%20and%20privacy%2Dpreserving%20payments.

Apparently an investor moved $1 billion on the Ethereum network for a $7.5 transaction fee. So why the complaints? I bet Bitcoin's fees are higher.

https://nairametrics.com/2021/01/16/investor-moves-1-billion-for-7-fee-on-ethereum-blockchain/#:~:text=A%20large%20entity%20paid%20a,Ether%20itself%20traded%20around%20%241%2C200.

I recently converted 5 ETH to USD and then bought Dogecoin with it. A few hours later I bought back 6 ETH and still had over $12,000 of Doge as profit. The transaction fees never even crossed my mind. Why would I care about that when I made over $13,000 profit in the trade. And who knows that trade could end up being a lot more profitable if Doge goes anywhere. The celebs have not given up on it and developers are now doing some upgrades for it lol!

https://www.forbes.com/sites/billybambrough/2021/02/14/doge-is-underestimated-elon-musks-fav-bitcoin-rival-dogecoin-is-getting-a-surprise-upgrade/?sh=f77c89b65802

[Thin Lizzy]

So, with Blockchain, do you all think there will be one dominant company, like Amazon in online retail, or will it be more spread out?

BtW, the company I asked about, RIOT,  has more than doubled since.

[gib]

I'm already using a lightening wallet, as are my friends. Its superfast. Basically instantaneous.

We usually put smaller amounts in the lightening wallet, for access when travelling or day to day transactions where accepted. But the core BTC holdings all remain in cold storage.

[Bindare_Dundat]

This guy thinks Ethereum is being artificially held back for the benefit of Defi projects. But he reckons that will only work for so long before Ethereum starts shooting up. He also speculates the reason Bitcoin crashed in 2018 was because of high fees and slow transaction speeds of up to a week. So what's different now? Why are high fees not holding Bitcoin back this time around compared to 2018? Or was it the Bitcoin futures that tanked the price?

Idk know what the issue is but its obvious that something is going on. Alts going up, btc going up, eth farting dust. Its not following the same momentum at all.  Still glad I sold when I did. It hasn't stayed above my selling price for longer then an hour  since then.  That willchange but so far....

[gib]

So, with Blockchain, do you all think there will be one dominant company, like Amazon in online retail, or will it be more spread out?

BtW, the company I asked about, RIOT,  has more than doubled since.

Nothing unique about this company. In fact, be very weary of any company that has "blockchain" in their name...

[Griffith]

This guy thinks Ethereum is being artificially held back for the benefit of Defi projects. But he reckons that will only work for so long before Ethereum starts shooting up. He also speculates the reason Bitcoin crashed in 2018 was because of high fees and slow transaction speeds of up to a week. So what's different now? Why are high fees not holding Bitcoin back this time around compared to 2018? Or was it the Bitcoin futures that tanked the price?

Ben of the 'Bitboy Cypto' channel also believes there is some market manipulation going on with Ethereum, that it could be similar to that Chinese mining group who were apparently manipulating the Bitcoin price recently.

[Griffith]

Idk know what the issue is but its obvious that something is going on. Alts going up, btc going up, eth farting dust. Its not following the same momentum at all.  Still glad I sold when I did. It hasn't stayed above my selling price for longer then an hour  since then.  That willchange but so far....

Remember when Ethereum was pumping to ATH's and Bitcoin was falling to 30K and people were saying 26k or 21k could be the next target?

The point is their movements are not necessarily directly correlated with each other, we have seen some decoupling.

[Griffith]

I'm already using a lightening wallet, as are my friends. Its superfast. Basically instantaneous.

We usually put smaller amounts in the lightening wallet, for access when travelling or day to day transactions where accepted. But the core BTC holdings all remain in cold storage.

Ethereum has their own equivalent, it's called Raiden.

Though with ETH 2.0, it will be able to handle at least 100 000 transactions per second, though possibly near 300 000 TPS, without needing Raiden or any equivalent Lightning wallet.

Bitcoin can handle 4.6 transactions per second.

[Bindare_Dundat]

Remember when Ethereum was pumping to ATH's and Bitcoin was falling to 30K and people were saying 26k or 21k could be the next target?

The point is their movements are not necessarily directly correlated with each other, we have seen some decoupling.

I stopped watching the ethereum chart. Its like clockwork, up and down in the same range last week.
Yes it held its value well while btc was dropping but it wasn't doing nearly as well as a ton of lower cap alt coins. By comparison across other coins its pricing momentum has stalled. Long term investing itll still do well for people but I dont think it'll be as good as some of the higher numbers mentioned.