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

[Flexacon]

As I understand it...Bitcoin derives it's value from the "Block Chain" process...A never ending process of computers running a program somewhere in the world...They call this "Mining"...What would happen to Bitcoin (and the money put into it) if after a time all the mining operations start to taper off and then stop altogether?

That's already happened numerous times. Minors are only gonna mine if they deem it's profitable to sell the bitcoin they've mined. It's kinda a self fulfilling prophecy in that way.

It will eventually stop if all the 21 million bitcoin are mined, by which point bitcoin it will probably be be a ridiculous 7 figure dollar value largely thanks to the ever increasing cost to mine it. No guarantee this will happen, but given how far bitcoin has come it would be silly to dismiss it.

[obsidian]

That's already happened numerous times. Minors are only gonna mine if they deem it's profitable to sell the bitcoin they've mined. It's kinda a self fulfilling prophecy in that way.

It will eventually stop if all the 21 million bitcoin are mined, by which point bitcoin it will probably be be a ridiculous 7 figure dollar value largely thanks to the ever increasing cost to mine it. No guarantee this will happen, but given how far bitcoin has come it would be silly to dismiss it.

Miners, not Minors.

[Mayday]

That's already happened numerous times. Minors are only gonna mine if they deem it's profitable to sell the bitcoin they've mined. It's kinda a self fulfilling prophecy in that way.

The spastics on social media don’t agree and are under the illusion that miners use mostly free energy and therefore won’t sell because there are no costs. The fuckwittery is getting to biblical levels.

Although something interesting is the decoupling of hash rate and price. usually price goes up and we see hash rate go up. Today we have hash rate at new ATH but price is -40% 🤔


Microstrategy also posted earnings…… let’s be real, he had board permission to source credit and is fine. They know full well he was going all out and there would have been an agreed sell strategy at certain price points along with a plan to drip feed selling BTC to service debt. All he needs to do is service debt.

124, 391 BTC @ $30,159 blended price. The guy is sitting comfortably for now and 30k is perfectly fine.

[Thin Lizzy]

The biggest Ponzi scheme in human history is down to its last breath. Plenty of virtual "millionaires" will be wiped out in the course of the next few months

I’m a trend guy who is agnostic about Crypto. No way you can come to any other conclusion other than that the current trend is down.

[Mayday]

I’m a trend guy who is agnostic about Crypto. No way you can come to any other conclusion other than that the current trend is down.

Word is the Fed is going to come in at 0.75% tomorrow…….

[titusisback]

It will eventually stop if all the 21 million bitcoin are mined

Pretty hard to speculate what's going to happen around 2140

https://www.coindesk.com/learn/what-happens-when-all-bitcoin-are-mined/

[Theoak*]

The spastics on social media don’t agree and are under the illusion that miners use mostly free energy and therefore won’t sell because there are no costs. The fuckwittery is getting to biblical levels.

Although something interesting is the decoupling of hash rate and price. usually price goes up and we see hash rate go up. Today we have hash rate at new ATH but price is -40% 🤔


Microstrategy also posted earnings…… let’s be real, he had board permission to source credit and is fine. They know full well he was going all out and there would have been an agreed sell strategy at certain price points along with a plan to drip feed selling BTC to service debt. All he needs to do is service debt.

124, 391 BTC @ $30,159 blended price. The guy is sitting comfortably for now and 30k is perfectly fine.

Microstrategy shares trading at a 26% discount compared to btc.

Not a bad arbitrage for you traders.

[obsidian]

I’m a trend guy who is agnostic about Crypto. No way you can come to any other conclusion other than that the current trend is down.

I'm staking most of my ETH and hodling all my other cryptos. Don't care if it goes down or up. I've already seen it crash down before in 2018/19. So I'll just keep my diamond hands as usual. Would rather hodl and see crypto go to zero than sell lower and see it go to the moon. That's just me.

[Slapper]

The biggest Ponzi scheme in human history is down to its last breath. Plenty of virtual "millionaires" will be wiped out in the course of the next few months

You people ought to be quiet. Just STFU. Plenty of money to be made.

Just STFU. You'll be doing the world a service.

Easy: STFU.

[Mayday]

Microstrategy shares trading at a 26% discount compared to btc.

Not a bad arbitrage for you traders.

Larger size uses Grayscale Trust which has a discount around the same. Microstrategy has huge debt and leverage attached to it. Their margin call price was disclosed as 24k. If it doesn’t go sub 20k they won’t even break a sweat. They’ll be fine unless nukes are in the air by lunchtime.

[Thin Lizzy]

Word is the Fed is going to come in at 0.75% tomorrow…….

The big banks have been recording record trading profits. Of course, the media has no interest in knowing the actual trades. How did they make all this money in a down market🤔

My bet is that their main play has been to short Treasuries.

[Flexacon]

The spastics on social media don’t agree and are under the illusion that miners use mostly free energy and therefore won’t sell because there are no costs. The fuckwittery is getting to biblical levels.

Although something interesting is the decoupling of hash rate and price. usually price goes up and we see hash rate go up. Today we have hash rate at new ATH but price is -40% 🤔


Microstrategy also posted earnings…… let’s be real, he had board permission to source credit and is fine. They know full well he was going all out and there would have been an agreed sell strategy at certain price points along with a plan to drip feed selling BTC to service debt. All he needs to do is service debt.

124, 391 BTC @ $30,159 blended price. The guy is sitting comfortably for now and 30k is perfectly fine.

My guess is that a lot of the new mining set ups have their primary operation (producing electricity, oil extraction etc) so don't need to rely on selling mined bitcoin to keep the lights on. They can hodl and wait for a better price if they want.

Add to that energy providers and the oil industry are seeing huge profits because of what's going on with Russia. They might be better off deferring the selling of their mined bitcoin and hold it as unrealized profits.

[Flexacon]

I’m a trend guy who is agnostic about Crypto. No way you can come to any other conclusion other than that the current trend is down.

The current trend is down, but bitcoin is not the whole crypto market. Some crypto (the vast majority) have done worse over the past year, but there are still quite a few that are up.

[Thin Lizzy]

Fed fueled rallies are typically short lived but this one didn’t even last a day:

[Thin Lizzy]

This is shaping up as dot com bust 2.0:

Another tech darling bites the dust:

[Thin Lizzy]

👎

[affeman]

The biggest Ponzi scheme in human history is down to its last breath. Plenty of virtual "millionaires" will be wiped out in the course of the next few months

[TheGrinch]

This is shaping up as dot com bust 2.0:

Another tech darling bites the dust:

shopify is bleeding money because adspend on social media for small biz is no longer profitable since the IOS 14.5 update last year imo

[Thin Lizzy]

shopify is bleeding money because adspend on social media for small biz is no longer profitable since the IOS 14.5 update last year imo

They all have an excuse. Zillow blamed its algorithms.

[a_pupil]

Where's our resident whale Gib?

[Flexacon]

They all have an excuse. Zillow blamed its algorithms.

Excuse is accurate, because a few tech/ecommerce/online marketplace stocks dumped even on good news.

Most have given up their pandemic gains and some are even trading lower than they did pre pandemic and pre money printing.

This isn't dot.com 2.0 though because these are companies that actually do something and are or were building to be viable businesses. Crypto crashing and taking everything down with it would be dot.com 2.0, but it still shows surprising strength over that the last 26 months. These are definitely strange times.

[OneMoreRep]

Waiting for the Crypto market to truly hit rock bottom and then will venture into Quant/$QNT big time.

"1"

[Mayday]

BTC drops to 36.5k and BTC dominance drops…….

Alt coins gunna get a major rugging real soon with such high levels of spasticity in the market.

I’m only interested in the reset, Low target BTC 28.5k and see what happens. Mid May 👀

[Thin Lizzy]

Excuse is accurate, because a few tech/ecommerce/online marketplace stocks dumped even on good news.

Most have given up their pandemic gains and some are even trading lower than they did pre pandemic and pre money printing.

This isn't dot.com 2.0 though because these are companies that actually do something and are or were building to be viable businesses. Crypto crashing and taking everything down with it would be dot.com 2.0, but it still shows surprising strength over that the last 26 months. These are definitely strange times.

It seems like what happened is that a lot of the newly created money went into the tech sector and all of the stocks are now over valued. Sure there are real companies that do real things but I suspect they’re all going to take some serious further hits before this is done.

If Google were to fall another 33% it would still be a TRILLION dollar company.

[Thin Lizzy]

I’d say this is a pretty solid piece of evidence that we’re headed for a bumpy ride:

Food and electricity holding up well.

New houses and shit you don’t need doing badly: