Had a few friends, who used to mine it. They stopped couple years back; when the electric bill was more than running the servers in the garage.
Senator elect Lummis is going to orange pill Congress until they are all bitcoin bag holders. She distills the value proposition down to its essence.
Best time, like stocks, this year to get in may have been around March. I've got ETH that's quadrupled since then, I think. XRP has at least tripled. My ADA is up 6-7x since then. VET was up 10x at some point this year. Last time it mooned, I pulled most of my winnings out to buy some new tires for the car and a new furnace for the house. This time I may pull some out to re-do the kitchen and/or master bath or something. lol. They all moon together, for the most part.... especially the large market cap ones.
tech companies like Google/Apple are sitting on hundreds of billions of dollars in their cash reserve treasuries If they decide to convert even a small percentage of those dollars to bitcoin, the price will skyrocket
When I think of bitcoin; I used to think about the people who likes it for user autonomy, discretion, p2p, anti-banking fees, and fascination on the tech itself. Kinda like the spirit of the internet when it first started. For the currency to succeed, more people including the non tech folks would need to get in on it. But like real physical currencies, some people get the coins for the speculative. Like people who buy art not because it they like it or its intrinsic value, but they get it as a financial investment. For what it is worth; it did drive its popularity. Bitcoin (the company) is most well known. Be careful out there, if you're getting into the game. Every couple weeks, I'd see headlines about crypto-exchanges getting hacked.
-Bitcoin is not a company. Its the exact opposite of a company. -You shouldn't be buying bitcoin if you dont know what you're doing -Most of the Bitcoin/Cryptocurrency craze is all about the gains (or for most, losses). Those who care about the concept are a fraction of those who do it for monetary gains.
Not disagreeing. The speculative part is people getting the coins for the gains and loses, versus actually using it for the currency, like buying a Thanksgiving turkey.
You don't part with precious bitcoin for a turkey. Use crappy depreciating us dollars for that Knowing that it is going to greatly appreciate in value, you only part with your bitcoin for something you love (house, college, wedding, etc.) Bitcoin is not for spending, it is for saving.
That's the issue. It's not looked at as a currency to buy things, instead viewed as a speculative instrument. When a unit of stock is too high; companies do a split. So it's not a wholesale price. Then it can be used in smaller transactions. That could ease one of the road blocks of its adoptability. Digital currency in it's name is supposed to be a currency; liquidity is the goal not turning it into a savings bond. Not trying to poo poo on the bitcoin train as ppl got into it to turn a profit. You may very well do so. I don't think it is what it originally was intended, and you can argue for better or worse it organically morphed into what it is today. The key to a currency is trust. It's trending positive but still a ways to go.
Somehow I missed the original memo that US users are getting booted from Binance and today I got my notice that they will be locking my account in 14 days. What platforms do yall recommend as an alterative to Binance? Thanks!
As a complete bitcoin newbie, is there a good source to read up on what it exactly is? I know Paypal recently got into bitcoin and I spent 10 USD just so I can say I bought some bitcoin (like 0.000000005 units of it lol). But for the uninitiated, anyone have any good sources of education on bitcoin? (short of just googling "bitcoin")
Stopped drinking Starbucks since March AND investing chump change into bitcoin? I'll be a trillionaire soon enough.
