MARA capitulated. Taproot 13.5% of 90% locked. If you don't understand the significance, go back to trading shjtcoins. @Commodore
sit in Cafe Bitcoin rooms on Clubhouse and you will get the knowledge you need to become fabulously wealthy
purchase $20 bucks of bitcoin every day, and you'll be a multimillionaire in 10 years it's very simple to do, you can set it and forget it but it's hard to do, you won't be able to resist panic selling, or you will waste that money on expensive crap before it can appreciate
In 2015 I bought a solid amount of bitcoin against my wife and financial advisers “advice.” I’m good and appreciate you actually replying with your personal knowledge and experience for once.
I laughed at the title but he spits truth. Crypto is largely speculative and plays on the Greater Fool. Belief is strong this year but I'll prob have fun staying poor when it pops afterwards... I've seen someone mention btc cult has become a sort of Prisoners Dilemma where everyone wins with diamond hands and the ones who sell have to be shamed as weak paper hands. Being sustained by that kind of belief structure isn't conducive for the next big currency, so it's always something to be aware of when it comes to influencers. They'll never tell you it's going down with any certainty. Some of the influencers are even saying many of the tech is a few years too early. If it arrives would the legit coins justify being worth more in market cap than Toyota Motors? I don't know but that's one reason why this space is pretty damn fun to watch
i liked his point about fees. happens even in mining - my mining pool takes 0.5%, the mining software takes another 1%, and when i cash out to fiat the exchange takes another cut.
That's pretty much the case in everything where a middle-man is involved. Like Alan Greenspan said when he first started working trading Forex and tried to figure out how the company was making money on trades. His bosses basically told him "we don't make money trading -- we make money off the people who think they can trade". lol. It's true in everything. It's like all the people that go and buy gold or silver and pay an 8-10% premium buying it... then another 8-10% loss selling it. Coinbase exists because of the fees. Banks love fees. Car dealerships don't make money selling you cars (unless you're a moron), they do it by mark-up on service/repairs -- their version of fees. Damn this world!
A lot of honest and good opinion in this -- I'm glad he posted something a little less comedic and sarcastic. lol.
forex is an extra special beast... something like 60-80% of traders lose $. its so silly, i'd rather buy shitcoins
Do you understand how absurdly high the market cap and price would have to be for someone to become a multimillionaire off of btc with 20$ per day? One BTC would have to be worth high two digit millions at least, as he wouldn't even own close to 1btc in 10 years. Even if it replaces gold and becomes the official world currency, your math doesn't check out.
bitcoin has had a 200% compound annual growth rate on average the last decade assuming that drops to say 70% over the next decade, the math checks out
But capital isn't unlimited and you can't continue that way forever. A multi-million double digit BTC (especially when the person in your example wouldn't be close to 1btc) would need an absurd influx of capital and replace fiat and most commodities entirely.
Back in reality, El Salvador proposes to legislation allowing BTC as legal tender. Slightly perplexed why CT is talking about balance sheets.
Massive bitcoin mine discovered in UK after police raid suspected cannabis farm Key Points The mine was stealing thousands of pounds worth of electricity from the mains supply, police said. Police searched the unit on May 18 on the back of intelligence that led them to believe it was being used as a cannabis farm. These are all “classic signs” of a cannabis farm, police said. However, officers found a bank of around 100 computers and zero cannabis on entering the building. LONDON — Police in the United Kingdom say they inadvertently discovered an illegal bitcoin mine while looking for a cannabis farm. The mine — located in an industrial unit on the outskirts of the English city of Birmingham — was stealing thousands of pounds worth of electricity from the power grid, West Midlands Police said Thursday. Police searched the unit in Sandwell on May 18 on the back of intelligence that led them to believe it was being used as a cannabis farm. Many people were visiting the unit at various points of the day, police said, adding there were numerous wiring and ventilation ducts visible. A police drone also detected a lot of heat coming from the building. Bitcoin mine uncovered during Black Country industrial unit raid. Source: West Midlands Police These are all “classic signs” of a cannabis farm, police said. However, officers found a bank of around 100 computers and zero cannabis on entering the building. “It’s certainly not what we were expecting,” Jennifer Griffin, Sandwell police sergeant, said in a statement. “It had all the hallmarks of a cannabis cultivation set-up and I believe it’s only the second such crypto mine we’ve encountered in the West Midlands.” Bitcoin miners use purpose-built computers to solve complex mathematical equations that effectively enable a bitcoin transaction to go through. The miners are rewarded for their efforts in the digital currency. However, the entire process is incredibly energy intensive because of the amount of power used by the computers. Bitcoin has a carbon footprint comparable with that of New Zealand, producing 36.95 megatons of CO2 annually, according to Digiconomist. “My understanding is that mining for cryptocurrency is not itself illegal but clearly abstracting electricity from the mains supply to power it is,” Griffin said. The term “mains supply” refers to the utility grid. The computer equipment has been seized but no arrests have been made. On Wednesday, Iran’s government announced a ban on the mining of bitcoin and other cryptocurrencies, as officials blame the energy-intensive process for blackouts in a number of Iranian cities. Around 4.5% of all bitcoin mining globally took place in Iran between January and April of this year, according to blockchain analytics firm Elliptic. That put it among the top 10 in the world, while China came in first place at nearly 70%. China’s Inner Mongolia region plans to ban new cryptocurrency mining projects and shut down existing activity in a bid to cut down on the energy-consuming operation.
