Author Topic: Bitcoins - about to hit $5,000 per coin today!  (Read 892328 times)

Mayday

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #6050 on: April 23, 2021, 04:28:16 AM »
Where did you hear about China being the source of dumping 9000 coins? And the China mining thing means nothing.

 turning off miners does fuck all to BTC .. doesnt affect it what so ever.

It just means theres less opportunity to solve a block from China

The only threat mining has is that if someone owns more than 51% then is hypothetically possible to manipulate the block.. the problem with that scenario is that if someone does the rest of the network would not only know but it would destroy its value... Meaning the millions in infrastructure and equipment would be worthless. So nobody really wants to do that.. its the mutually assured destruction theory in POW

Price follows hash rate.

Turning off mining (or blackout) drops the hash rate and crashes the price.

It’s all good, I’m just looking at stuff from different angles. Hope we get back on track in the next 10 days!

Bindare_Dundat

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #6051 on: April 23, 2021, 04:36:30 AM »
Price follows hash rate.

Turning off mining (or blackout) drops the hash rate and crashes the price.

It’s all good, I’m just looking at stuff from different angles. Hope we get back on track in the next 10 days!

Yeah, lm immune to all this shit. Been here before and lived. This won't be any different. Just need time .

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #6052 on: April 23, 2021, 06:29:14 AM »
blah blah blah been here before stop crying things will pump again, this is what happens when nobody works and everyone is stuck at home lol

obsidian

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #6053 on: April 23, 2021, 12:06:39 PM »
https://finance.yahoo.com/news/no-ethereum-killers-while-says-055419013.html

As Ethereum (ETH) gas fees continue to escalate, there has been a migration to faster networks, but none of them have been able to “kill ETH” yet, according to Weiss Crypto.

Market analysis and risk rating firm Weiss Crypto has reported that Ethereum has made a solid recovery from the fourth market correction in the current cycle.

At the time of writing, ETH was trading up 4.3% on the day, topping $2,400 again and just 5.7% off its all-time high (ATH). Bitcoin (BTC), conversely, was heading in the opposite direction, dropping 3.6% on the day and trading at $53,750, 17% down from its ATH. Weiss commented:

    “This show of strength from the number two cryptocurrency is very assuring for this current altcoin season and is an extremely bullish sign of things to come for alternative crypto investments. We’re doubling down on our call for altcoin season now.”

No ETH killers

The ratings firm also asserts that there will be no “Ethereum killers” for some time, despite the emergence of a large number of rival blockchains that are faster and cheaper to use.

In a tweet on April 21, Weiss stated that it was “highly skeptical” about other Layer 1 networks catching up to Ethereum:

“Some say that other L1s are “catching up to ETH,” but we’re highly skeptical. It’s the same story from 2017 where wannabe $ETH killers sacrificed all semblance of decentralization to be cheaper and faster.”

The firm added that many of these rivals do not hold a candle to Ethereum, and the only hope for some of these alternatives is to become a sidechain to ETH.

Weiss commented that Ethereum rivaling blockchains launched or hyped during the previous cycle, such as EOS and NEO, have not lived up to their claims of being able to “kill ETH.”

The largest rival to Ethereum at the moment is Binance Smart Chain (BSC) and even that began to show signs of strain under the increased demand this week. The network’s top DEX PancakeSwap commented that BSC was “overloaded,” following complaints from users regarding failed transactions and errors.

According to researchers at SIMETRI, BSC could go the same way as EOS as building larger “pipes” for faster transactions doesn’t necessarily solve the scalability issues. BSC has already been questioned over its validator centralization and without storage, computing, and availability upgrades it may eventually go the way of all the Ethereum killers before it.

Ethereum gets an A-

Weiss currently ranks ETH overall as A-, which is what it also gives to Bitcoin. Its closes competitor in terms of ranking by the company is Cardano (ADA) which gets a B- for technology and adoption. Polkadot (DOT), which could be considered as a serious contender to rival Ethereum, comes in with a C+, according to Weiss.

obsidian

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #6054 on: April 23, 2021, 12:08:14 PM »
Yeah, lm immune to all this shit. Been here before and lived. This won't be any different. Just need time .
Are you buying the dip?

obsidian

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #6055 on: April 23, 2021, 12:17:23 PM »
Price follows hash rate.

Turning off mining (or blackout) drops the hash rate and crashes the price.

It’s all good, I’m just looking at stuff from different angles. Hope we get back on track in the next 10 days!
My ETH mining yields picked up the past week. The 2 weeks prior to that were not as good. I have over 1.5 Gh/s of hash rate now spread throughout the house. Another nice development is that used graphics cards are now selling for premium prices. I might be able to sell them for what I paid new 3 years ago! I saw one guy on Ebay selling just a 3090 retail box with manual for $250 without the card lol! Good power supplies, motherboards and mining rig cases are also commanding good prices since there is a huge shortage and high demand for equipment.

I have two RTX 3090s and one has almost paid for itself already mining Ethereum the past 5-6 months. One 3090 does not mine 24/7 because I sometimes use the computer. But it is actually quite usable while mining. I can watch multiple 4K youtube videos @ 60fps while it is mining Ethereum! The hash rate might drop from 120 Mh/s down to 95-98 Mh/s but that's still impressive. For reference a 1080 ti currently maxes out at about 46-48 Mh/s and a 1070ti 33.5 Mh/s without any other computational loads like playing videos etc. There's 1000 Mh/s in 1 Gh/s.

SOMEPARTS

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #6056 on: April 23, 2021, 12:18:21 PM »
FOMO happened just like it did earlier for growth stocks. The biggest gains happen during FOMO but once the herd is in and things have gone up too fast you inevitably get the fall. Very hard to time. It started over the weekend, and has gone fast. I sold out yesterday . It has been a life changing year. Whether it goes up or down from here, the gain for less that a year was 10-15 years worth of gains.


Smartest person in here, haha.

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #6057 on: April 23, 2021, 12:22:02 PM »
Gib watching ETH vs precious BTC ratio.



Griffith

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #6058 on: April 23, 2021, 12:44:45 PM »
Gib watching ETH vs precious BTC ratio.




 ;D

Bindare_Dundat

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #6059 on: April 23, 2021, 01:17:20 PM »
Are you buying the dip?

I'm gonna give it a bit.more.time and see how the momentum goes but I will be filling up.my bags more for sure if its positive.

I'm still on my long trade. Yoohoo

Take profits on the way up guys.

Eth still hasnt even broken its up trend yet. even after this dump. lol wow

Mayday

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #6060 on: April 23, 2021, 02:22:11 PM »
Bitboy just tweeted someone bought 1B.

Any ideas who that might be or is he talking sheeeeit?

Long wicks on these dumps so someone is buying it up hard.

I have the wick floor estimate at 45.6k but I can’t see a day close below a 48k price. Too much buying pressure right now.

OneMoreRep

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #6061 on: April 23, 2021, 02:41:04 PM »
Bitboy just tweeted someone bought 1B.

Any ideas who that might be or is he talking sheeeeit?


Long wicks on these dumps so someone is buying it up hard.

I have the wick floor estimate at 45.6k but I can’t see a day close below a 48k price. Too much buying pressure right now.

Likely full of shit, but if someone did, likely institutional traders or someone like Musk.

"1"

obsidian

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #6062 on: April 23, 2021, 03:35:39 PM »
Bitboy just tweeted someone bought 1B.

Any ideas who that might be or is he talking sheeeeit?

Long wicks on these dumps so someone is buying it up hard.

I have the wick floor estimate at 45.6k but I can’t see a day close below a 48k price. Too much buying pressure right now.
Walmart?

https://marketrealist.com/p/walmart-buying-bitcoin/

obsidian

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #6063 on: April 23, 2021, 03:38:01 PM »

Flexacon

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #6064 on: April 23, 2021, 04:54:18 PM »
I'm gonna give it a bit.more.time and see how the momentum goes but I will be filling up.my bags more for sure if its positive.

I'm still on my long trade. Yoohoo

Take profits on the way up guys.

Eth still hasnt even broken its up trend yet. even after this dump. lol wow

Sold most of my bitcoin years ago so I'm not saying this out of hope, but I don't think bitcoins run is done. Could still reach 90 to 100k within the next few months. 

I do still have a fair bit of Ethereum, but even if that were to hit 5k soon I don't think I'll sell much. If Eth 2.0 works it could be "the one". Well has the most potential for that title. 

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #6065 on: April 23, 2021, 05:04:22 PM »
I was considering selling 2-5% of my btc stash end of this year or possibly half my ltc and eth if blockfi lowers their interest rates on my savings account.

Now that's  out the window for years to come. I just got confirmation  that celsius gives out loans available in my region for 1%. Im about to obtain a 700k loan through  them using btc as collateral. Repeat the process as btc appreciates.  No taxes for me thank you.

Flexacon

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #6066 on: April 23, 2021, 05:30:41 PM »

Now that's  out the window for years to come. I just got confirmation  that celsius gives out loans available in my region for 1%. Im about to obtain a 700k loan through  them using btc as collateral. Repeat the process as btc appreciates.  No taxes for me thank you.

Something about that doesn't seem right. What happens if the value of bitcoins tanks? That company will be screwed. I'm sure they won't expose themselves to that kinda risk. There must be a catch somewhere.

Theoak*

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #6067 on: April 23, 2021, 07:03:41 PM »
I wouldnt advise to risk more than 5% of your collateral. That way if it did tank you could top up your collateral if price doubles you can reverse margin call and they release some of your collateral. LTV is 25%. Its heavily collateralised loans. The business itself only issues 1% of their loans uncollateralised.

obsidian

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #6068 on: April 23, 2021, 10:50:23 PM »
Good video by Bitboy! Calls Biden an idiot / puppet.


Humble Narcissist

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #6069 on: April 24, 2021, 03:10:35 AM »
I'm shocked.

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #6071 on: April 24, 2021, 06:52:29 AM »

Griffith

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #6072 on: April 24, 2021, 09:56:35 AM »
And despite the 'imminent collapse', institutional investors have been buying large amounts in the recent dips, including Rothschild Investment who have added to their shares in the Grayscale Ethereum Trust and many others who have added Bitcoin and various cryptocurrencies.

We see this over and over again, negative news headlines suddenly coming out as the prices rise, causing a correction from panic selling retail investors and then more buying from the institutional investors when the price drops.

Bindare_Dundat

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #6073 on: April 24, 2021, 10:57:03 AM »
And despite the 'imminent collapse', institutional investors have been buying large amounts in the recent dips, including Rothschild Investment who have added to their shares in the Grayscale Ethereum Trust and many others who have added Bitcoin and various cryptocurrencies.

We see this over and over again, negative news headlines suddenly coming out as the prices rise, causing a correction from panic selling retail investors and then more buying from the institutional investors when the price drops.

Yup still wise to watch how things play out  . Seems that so far we are chilling out at currentbkevel of around 48k to 50k area

Griffith

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #6074 on: April 24, 2021, 11:54:20 AM »
Yup still wise to watch how things play out  . Seems that so far we are chilling out at currentbkevel of around 48k to 50k area

For sure, I’ve think we’ve got at least one good run left. Either way, if it looks like things are really tanking I will be moving into stablecoins, and then be able to buy more cheaper at a later date.