miskBitcoin miners win legal battle to keep mum about energy use [US]
shortwavesurferGood for them. Fuck governmyth overreach
This is a loss for everyone. Fuck these clowns.
GiganBitcoin is currently at $57,000 and it’s up 144% in the last year. Haters gonna hate
Surely this time it won’t crash and burn right?
SwingingKoalaYeah, it always crashes. So what, then I’m only up 10000%, not 20000%.
Haha, you guys really live in an alternative universe, don’t you?
Not sure which point you’re trying to make.
The point I am trying to make is fully explained on this website:
Yeah, you don’t even understand that Bitcoin isn’t web3.
He was in early on the pyramid so he’s just got to keep selling it as if all the next people are gonna be super rich so that the pyramid scheme keeps going.
I mean I get it. It was super successful and made so much fucking money for whales and people who did Tupperware parties real early but they are so committed to the idea now.
Who knew you could get a bunch of men to happily sell MLM products though as long as you used a bunch of tech jargon and made it seem like you are smart for getting it. I mean I guess anyone that knows men right?
I understood why bitcoin is valuable in 2013 and I know that it is still massively undervalued, people like you are the clear proof.
Who knew you could get a bunch of men
Lol, of course somebody like you is also a sexist.
Is it sexist because you aren’t a male shilling this and wrongly assumed your gender based on the stereotype or are you just pretending it’s sexist so you don’t get hurt by the realization that this really is just the MLM for the male gender who makes up a grand majority of the base?
And sure you consider it undervalued because people still aren’t in the pyramid scheme so it can go up if only wasn’t for all the pesky people agreeing this is a scheme that’s gonna burst and not wanting in.
A pyramid scheme only gains value if you can lure in more people. Bitcoin gains value even if the number of people is constant because the measuring stick you use, the USD, constantly shrinks through inflation. Happy to clear that up.
That is all what the shilling is for, really.
They only make money if they can find bigger fools to buy into their pyramid scheme. So they will use anything to try and convince people. Even if it means to lie and cheat.
TimeSquirrelYeah it's called a "dead cat bounce". Zoom out by about 7 years.
I don’t know how much you know about bitcoin, but 7 years ago it was worth $1,100.
That's not my point. I was talking about the recent price rise.
Every boom bust cycle so far (and there have been about 4 or 5 of them), you get an initial spike, followed by a second one, and then a long, drawn out "despair" period after a crash.
What you're seeing is the second bounce of a spike that has been ongoing since about 2019/2020. The "despair" phase is probably not too far off now.
Again, I’m not sure how much you know about bitcoin because the boom/bust cycles you’re talking about are reflections of the halving cycle, not dead cat bounces. The next halving is going to happen in April this year, and after that the price is going to go up even more. I’ve been through this before, I’m not worried about the despair phase but that’s not what’s coming next.
deafboyTrue, but keep in mind that the effect of each halving on price is smaller.
That makes sense, since each halving reduces the supply by a smaller amount. But it will still have an upward pressure on the price.
I hadn’t realized Lemmy was so anti-bitcoin.
Anyway, bitcoin etf’s are a new thing and money is pouring in. Only time will tell, but with all the etf money and the impending halfing, the future looks bright.
Is bitcoin volatile? Undoubtedly.
Buy during the dispair period.
As a former Bitcoin user and fan, I am also anti-Bitcoin. Until they can figure out how to run the network without drawing the energy equivalent of an entire developing country just to check if some numbers are correct, I can't morally justify myself using it.
Ooh, better go vegan then.
Who says they haven’t?
Honestly, if they’re actually vegan, then I have a lot of respect for them.
As it stands, I think that its more likely that they’re just an annoying, virtue signaling turd.
proleBitcoin doesn’t need to figure anything out, alternatives that cost essentially 0 energy in comparison already exist on a massive scale.
They probably don’t know much about Bitcoin, seeing how they have only been using it for 12 fucking years…
/s
NeatoMake sure you keep your money in bitcoin so when it crashes we can all laugh at you. Again.
Right now I’m up over 400% on my bitcoin, it’s by far my best performing investment. Come back to this comment in 6 months and see where it’s at.
Oh I will.
popcorn.gif
Gonna try this out
@[email protected] 180 days
Remind Me@Gigan Ok, I will remind you on Sunday Aug 25, 2024 at 2:18 PM PDT.
TheImpressiveXThere’s a RemindMe bot on Lemmy?! Now I’ve gotta try this out.
@[email protected] 24 hours
@TheImpressiveX Ok, I will remind you on Wednesday Feb 28, 2024 at 1:39 PM PST.
@TheImpressiveX Here is your reminder!
Wow, it worked. Thanks, @[email protected]!
RedFox@[email protected] 180 days
@Gigan Here is your reminder!
@blandfordforever Ok, I will remind you on Tuesday Aug 26, 2025 at 8:42 PM PDT.
@blandfordforever Here is your reminder!
I was a couple months off, but I wanted to let you know that bitcoin hit a new all time high.
Haha, I remembered this guy within the past couple of days too
How’s that popcorn tasting?
You were right. It is fun to eat popcorn while watching your investment increase in value by an additional 50% in a 9 month period of time. 🍿🤓
I once hopped cryptocurrency was going to end capitalism, democratize the financial system and help redistributing wealth.
Instead it became yet another stock to gamble on.
Yeah, and it’s easy to tell who are the bitter people who took a known gamble and lost. Gotta blame someone/something.
In case your referring to me, full disclosure.
I bought €10 bucks of dogecoin all the way back in 2013.
I still have them and while i initially dreamed of affording a gaming pc, i am a working adult now and the novelty of the coin is worth more to me. The price has remained a stable price of 1 Doge = 1 Doge
I have no regrets.
I never cared about any other crypto, if the point is to sell them for classical money then what is the point.
If i recall correctly, the stock to flow model predicts that this cycle should peak in late 2025.
investment gamble
FTFY
All investments are gambles basically. For example, I chose to do the “safe thing” a few years back to “invest” some of my savings into an index fund (stock market diversification basically). This is commonly expected to yield about 5% return on investment over time, historically.
What actually happened is that my Gamble lost about 40% of its value over the past couple years. I’d have been far better off just putting those savings into a good savings account.
Sure, no problem, have been doing that since 2013.
Wow, a volatile currency backed by nothing has large swings in value and if you pick the right date range you can tell any story you want? That’s pretty amazing.
𝚐𝚕𝚘𝚠𝚒𝚎What is fiat backed by?
Governments guarantee that their currency is worth something in various ways. Bitcoin is backed by the energy usage it costs mine
It's not backed by energy usage. It's backed by pure, empty, meaningless market speculation. It's a digital baseball card. People use it in the exact same way. It has value because it's "rare", limited, and a bunch of people think so.
Yup. And prices go up from a combination of more idiots throwing money into it which is great for investing if you got into the game early and sure you can grab a chair before the music stops on this high energy use game of musical chairs and also because running those farms are getting so expensive the price had to go up to justify it.
Dude when it halves again and it’s suddenly taking the same amount of energy to do half the work I truly don’t know what’s gonna happen. I guess it depends how strong the sunk cost fallacy is in their heads for if it survives another round.
It also has the additional property of being able to easily transfer that asserted value anywhere in the world, free of censorship.