Author Topic: Bitcoins - about to hit $5,000 per coin today! (Read 892606 times)

Bindare_Dundat · « **Reply #6525 on:** May 13, 2021, 08:07:46 AM »

Quote from: El Diablo Blanco on May 13, 2021, 05:40:25 AM

Welcome everyone to the world of investment banking. Before when BTC was owned by the people, they took care of it, held on to it, didn't short or try to fuck over anyone else. Now you have a lot of financial companies dipping their toes in it. They don't play fair or nice, they don't give a fuck about the people or the BTC community. Now they're playing their old fucking games. Short this, short that, manipulate the currency, make it go up, crash it, buy cheap, make it go up again, sell, crash etc.... All of you guys love posting these articles and get all excited every time a financial company decides to adopt BTC but then what you don't realize is that you're now playing games with the devil. Those fuckers will manipulate the shit out of BTC.

Don't think Musk as any power in this. Banks will now use any excuse to crash and recover BTC making money each time it happens.

I posted an article yesterday on this exact topic.

French · « **Reply #6526 on:** May 13, 2021, 08:11:27 AM »

Go Elon, I own 10 000$ of ADA.

loco · « **Reply #6527 on:** May 13, 2021, 08:16:09 AM »

SOMEPARTS · « **Reply #6528 on:** May 13, 2021, 08:20:10 AM »

Quote from: tommywishbone on May 13, 2021, 07:57:49 AM

I'm so confused I deleted my comment because I thought it might be insane.

I thought Bitcoin was simply a "a value attached to something that doesn't really exist." How can it be bad for the environment? Are you guys fucking with the old guy and I can't figure this out. I've always been a brick & motar guy... Phillip Morris, 3M, Apple, IBM.

It takes massive processing power for Bitcoin to run. It's a giant living electronic ledger that requires updating by reprocessing over and over. It's one of the most inefficient technologies that exist IMO.

https://www.allaboutcircuits.com/news/cryptocurrency-mines-consume-more-power-argentina-psus-can-help/

French · « **Reply #6529 on:** May 13, 2021, 08:25:10 AM »

should be processed with Nuclear power not the China coal.

SOMEPARTS · « **Reply #6530 on:** May 13, 2021, 08:27:17 AM »

Quote from: French on May 13, 2021, 08:25:10 AM

should be processed with Nuclear power not the China coal.

Did you miss the part where the world runs on 65% plus fossil fuels?

These dumb green arguments never cease.

Coffeed · « **Reply #6531 on:** May 13, 2021, 08:36:04 AM »

If bitcoin has a finite supply, wont the energy consumption plummet once they are all mined?

OneMoreRep · « **Reply #6532 on:** May 13, 2021, 09:30:35 AM »

Quote from: Bindare_Dundat on May 13, 2021, 07:58:23 AM

some great points. although i really hope elon stays the fuck away from Cardano.

I am perfectly fine with Elon hoping on the Cardano train.

I can somewhat see your point in that every time Musk hops on board to back (or pump) a cryptocurrency, it takes a dive head first (Bitcoin + DOGE), but I think that for the purposes of what Musk is trying to do (reduce Carbon Emissions, not fuck with coal byproducts, keep mining costs low etc) Cardano makes perfect sense. If there is any time for Cardano to break out and quickly become second to Bitcoin, I think it would be now. Just going by today's coinmarketcap values, Cardano has now taken the 4th spot by market cap in the crypto market, beating out DOGE, XRP, Polkadot and Tether.

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El Diablo Blanco · « **Reply #6533 on:** May 13, 2021, 09:39:08 AM »

Quote from: French on May 13, 2021, 08:25:10 AM

should be processed with Nuclear power not the China coal.

I'm sure China has all sorts of rigs setup for mining. Between them and Russia they are probably grabbing the lions share of all newly mined crypto

Bindare_Dundat · « **Reply #6534 on:** May 13, 2021, 10:18:15 AM »

Quote from: OneMoreRep on May 13, 2021, 09:30:35 AM

I am perfectly fine with Elon hoping on the Cardano train.

"1"

sorry but you are wrong here. the guy is poison.

FitnessFrenzy · « **Reply #6535 on:** May 13, 2021, 10:23:41 AM »

$ 48,710.51

OneMoreRep · « **Reply #6536 on:** May 13, 2021, 10:24:56 AM »

Quote from: Bindare_Dundat on May 13, 2021, 10:18:15 AM

sorry but you are wrong here. the guy is poison.

This is where we will disagree. I think he is weird as fuck, has Asperger's and all, but I don't think he is poison. I simply think he is a VERY calculated troll that has been making his friends (and himself) very rich in this entire hit towards crypto. Elon doesn't have to care for any of us. Elon ONLY has to care about his projects and his investors. As Mayday said earlier, we are all living in Elon's simulation here. The man is a modern day Lex Luther and we can't do anything about it.

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OneMoreRep · « **Reply #6537 on:** May 13, 2021, 10:28:23 AM »

On another note, did you guys hear about this?

Binance Probed by U.S. as Money-Laundering, Tax Sleuths Bore In
https://www.bloomberg.com/news/articles/2021-05-13/binance-probed-by-u-s-as-money-laundering-tax-sleuths-bore-in

The IRS and Justice Department are going after Binance exchange. Any speculation as to whether this might affect Binance Coin ($BNB)? Binance Coin is the native currency on Binance's blockchain (Binance Chain). Will this make investors of $BNB flee in fear? Binance coin is ranked #3 in the crypto market by way of market cap.

Thoughts?

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FitnessFrenzy · « **Reply #6538 on:** May 13, 2021, 10:30:56 AM »

Quote from: OneMoreRep on May 13, 2021, 10:28:23 AM

On another note, did you guys hear about this?

Binance Probed by U.S. as Money-Laundering, Tax Sleuths Bore In
https://www.bloomberg.com/news/articles/2021-05-13/binance-probed-by-u-s-as-money-laundering-tax-sleuths-bore-in

The IRS and Justice Department are going after Binance exchange. Any speculation as to whether this might affect Binance Coin ($BNB)? Binance Coin is the native currency on Binance's blockchain (Binance Chain). Will this make investors of $BNB flee in fear? Binance coin is ranked #3 in the crypto market by way of market cap.

Thoughts?

"1"

if Binance gets convicted it would be quite bad since they are the biggest exchange measured by trading volume.

OneMoreRep · « **Reply #6539 on:** May 13, 2021, 10:33:14 AM »

Quote from: FitnessFrenzy on May 13, 2021, 10:30:56 AM

if Binance gets convicted it would be quite bad since they are the biggest exchange measured by trading volume.

Turns out the article title is misleading and once you read through it, it actually projetcs Binance in a good light. Click bait title..

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Bindare_Dundat · « **Reply #6540 on:** May 13, 2021, 02:18:02 PM »

Elon tweeting again. What a tool.

Mayday · « **Reply #6541 on:** May 13, 2021, 02:33:42 PM »

Quote from: Bindare_Dundat on May 13, 2021, 02:18:02 PM

Elon tweeting again. What a tool.

15.7k BTC moved to Binance a few hours ago. We ain’t done yet

BTC close at 46.5k on Monday?

ETH risk is down to 2.7k but it’s holding up insanely well so I’m not sure it’ll crack under 3k.

I think Elon is genuinely serious about Doge...... look at how the market reacts. Can we not afford
To own Doge lol?

Theoak* · « **Reply #6542 on:** May 13, 2021, 02:44:48 PM »

Quote from: Bindare_Dundat on May 13, 2021, 01:47:02 AM

Seeing as you're still hanging on to btc, how do you see this panning out short term?

We are at half way point of bull cycle. 3-5x from here.

Theoak* · « **Reply #6543 on:** May 13, 2021, 02:47:03 PM »

Quote from: Mayday on May 13, 2021, 02:33:42 PM

15.7k BTC moved to Binance a few hours ago. We ain’t done yet

BTC close at 46.5k on Monday?

ETH risk is down to 2.7k but it’s holding up insanely well so I’m not sure it’ll crack under 3k.

I think Elon is genuinely serious about Doge...... look at how the market reacts. Can we not afford
To own Doge lol?

19k moved to binance right before the Elon tweet. Someone had insider info....

I hold 330k of doge. I cant wait to offload it at 1$ and watch this coin capitulate 90% during the draw down.

Bindare_Dundat · « **Reply #6544 on:** May 13, 2021, 02:53:47 PM »

Quote from: Theoak* on May 13, 2021, 02:47:03 PM

19k moved to binance right before the Elon tweet. Someone had insider info....

I hold 330k of doge. I cant wait to offload it at 1$ and watch this coin capitulate 90% during the draw down.

where is this info? can you please provide a link? thanks and which tweet was it, the most recent or the one that caused the current slide down?

and are you using the stock to flow chart as your call on where we are in the bull market?

Bindare_Dundat · « **Reply #6545 on:** May 13, 2021, 02:57:32 PM »

Quote from: Coffeed on May 13, 2021, 08:36:04 AM

If bitcoin has a finite supply, wont the energy consumption plummet once they are all mined?

you won't be alive by the time its all mined.

Mayday · « **Reply #6546 on:** May 13, 2021, 03:07:09 PM »

Quote from: Theoak* on May 13, 2021, 02:47:03 PM

19k moved to binance right before the Elon tweet. Someone had insider info....

I hold 330k of doge. I cant wait to offload it at 1$ and watch this coin capitulate 90% during the draw down.

Crazy huh. The guy might just be the Anti Christ lol.

Nice work on Doge, i have a handful which I’ll dump after I see him tweet a photo of a dog LoL.

Why is ADA rallying and not Doge? Elon doesn’t give a shit about ADA so who decided he was meaning ADA to be the next thing?

OneMoreRep · « **Reply #6547 on:** May 13, 2021, 04:07:58 PM »

Quote from: Mayday on May 13, 2021, 03:07:09 PM

Crazy huh. The guy might just be the Anti Christ lol.

Nice work on Doge, i have a handful which I’ll dump after I see him tweet a photo of a dog LoL.

Why is ADA rallying and not Doge? Elon doesn’t give a shit about ADA so who decided he was meaning ADA to be the next thing?

I believe ADA is rallying because Elon mentioned in one of his tweets that he is exploring other cryptocurrencies that aren't as devastating to the environment via the use of fossil fuels for mining & transactions. In particular, he said they are looking into other cryptocurrencies that use <1% of Bitcoin's energy per transaction. ADA goes easy on the environment and isn't producing the carbon emissions from mining that BitCoin produces.

One of the statistics I read when comparing ADA to BTC was that ADA's annual energy consumption was equal to 6 GWh (Gigawatt hours), whereas BTC's annual energy consumption was equal to 130 TWh (Terawatt-hour). ADA's energy consumption is 21,000x less than BTC's per year. Whereas BTC's energy consumption is equivalent to 0.6% of global electricity consumption and supposedly on par with the country of Jordan which has over 10 million people. This is why institutional money is flowing into ADA. They see a potential solution or alternate option for Elon's crypto dilemma (finding a crypto that is less harmful on the environment).

I believe this is the same reason why ETH is taking a hit today. Both BTC & ETH have serious mining issues that hurt the environment, ADA and others like DOT are a good solution to that.

This is also where the argument of Proof of work vs Proof of stake comes into play. Bitcoin and Ethereum are both Proof of work, whereas ADA and DOT are proof of stake. Proof of work requires an intense amount of computer power and electricity for miners to verify transactions on a blockchain, whereas Proof of stake removes energy-intensive equation solving by computers, thus it’s much more efficient than proof of work.

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obsidian · « **Reply #6548 on:** May 13, 2021, 04:38:11 PM »

Quote from: OneMoreRep on May 13, 2021, 04:07:58 PM

I believe ADA is rallying because Elon mentioned in one of his tweets that he is exploring other cryptocurrencies that aren't as devastating to the environment via the use of fossil fuels for mining & transactions. In particular, he said they are looking into other cryptocurrencies that use <1% of Bitcoin's energy per transaction. ADA goes easy on the environment and isn't producing the carbon emissions from mining that BitCoin produces.

One of the statistics I read when comparing ADA to BTC was that ADA's annual energy consumption was equal to 6 GWh (Gigawatt hours), whereas BTC's annual energy consumption was equal to 130 TWh (Terawatt-hour). ADA's energy consumption is 21,000x less than BTC's per year. Whereas BTC's energy consumption is equivalent to 0.6% of global electricity consumption and supposedly on par with the country of Jordan which has over 10 million people. This is why institutional money is flowing into ADA. They see a potential solution or alternate option for Elon's crypto dilemma (finding a crypto that is less harmful on the environment).

I believe this is the same reason why ETH is taking a hit today. Both BTC & ETH have serious mining issues that hurt the environment, ADA and others like DOT are a good solution to that.

This is also where the argument of Proof of work vs Proof of stake comes into play. Bitcoin and Ethereum are both Proof of work, whereas ADA and DOT are proof of stake. Proof of work requires an intense amount of computer power and electricity for miners to verify transactions on a blockchain, whereas Proof of stake removes energy-intensive equation solving by computers, thus it’s much more efficient than proof of work.

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This is one of the reasons Cardano is rallying in addition to the fact that it was laying low when Ethereum was shooting up.

Just a reminder that Ethereum is also moving to proof of stake. I am already staking Ethereum and there are others on this forum staking as well. Vitalik also proposed fast tracking the switch to Ethereum 2.0.

https://cryptobriefing.com/key-ethereum-researchers-vote-to-ship-proof-of-stake-in-2021/?__cf_chl_jschl_tk__=4d436316892a3ca99a3b39c807a71e2aca353ec2-1620948998-0-AWfI7pFsD8KWgtjrgagAWBEFQGS4BwRnVjpaoHJWMtkE5gt_DfgmM7NbC30QPTnk1RtJJQ23YMhD_LsjQlyfI_xO8MN2mmlCrxstTmcBgkg_-8tri8YTVYAcIkmDs9nBsGXrcp70OF543AbAVHfiNVPtFzKZJHHifCOrz6jPFcWVPW9pc_qIFLLmOv_GkbPVlalfUdptOHrmc24UE9etDkq0doczcCARI3oMJbhR02qyy_TWLCOQgBtsjghHQgSQ1rzgzqqrnZ3eLj0G_sQchUuzsmBmwde0LX_XX6p8n42a8EXr2GJEgd08S2aRFD1dEPqbRevloUyADk60VjQyMP79gRghBLuBllqEoJxeA0ZC-H2gowBXPscbmO90UFD5Wim6zI5AIgkN5hfVpmq442C9YCrlamtwPsCvEz1qWyf9EcmYKa22yFZab-iVReG_OjmuMCcU9DmraWsNguYey-xGZXiHEI-E4r1rNHvvfvdV

Proof-of-Stake could be coming to Ethereum in 2021. A poll conducted by Ethereum 2.0 researcher Justin Drake shows that the community is overwhelmingly in favor of fast-tracking the upgrade.

Key Takeaways

- Vitalik Buterin and other Ethereum researchers have supported launching “the merge” phase of Ethereum 2.0 in 2021.

- The initial Ethereum 2.0 roadmap planned for launching sharding ahead of the merge of Ethereum mainnet and the Beacon chain. Ethereum's latest plans involve fast-tracking the merge ahead of sharding.

- Justin Drake told Crypto Briefing that he is “confident” that Proof-of-Stake will go live this year.

obsidian · « **Reply #6549 on:** May 13, 2021, 04:40:50 PM »

Quote from: Mayday on May 13, 2021, 03:07:09 PM

Crazy huh. The guy might just be the Anti Christ lol.

Nice work on Doge, i have a handful which I’ll dump after I see him tweet a photo of a dog LoL.

Why is ADA rallying and not Doge? Elon doesn’t give a shit about ADA so who decided he was meaning ADA to be the next thing?

The ADA moon boys decided that. They are fanatic about Cardano. My dislike for Charles Hoskinson is the only reason I did not fomo in it more. I have Cardano but not heavily invested in it.