Bitcoin

[Administrator]

This argument has become a bit abstracted away from the thread topic. I have tidied up off topic posts. Please, no more debates about bitcoin as a concept.

[Breezy]

Good article in the Nasdaq today about the fact that both bulls and bears doubt it will ever become a useful currency but rather more like digital gold as a store of value. I reckon if I had to choose between the 2 it would be physical gold all day long,  a nice slab of gold that you can touch and feel seems infinitely more attractive to me than a cold cyber signature floating around somewhere that I cant get my hands on.

[Azz]

Good article in the Nasdaq today about the fact that both bulls and bears doubt it will ever become a useful currency but rather more like digital gold as a store of value. I reckon if I had to choose between the 2 it would be physical gold all day long,  a nice slab of gold that you can touch and feel seems infinitely more attractive to me than a cold cyber signature floating around somewhere that I cant get my hands on.

Rome wasn't built in a day. If you research the price data for Bitcoin, from inception until now, you will see that each year's High and Low have become closer together - in other words, over time, it is reaching useful stability. Re the nice slab of gold, I agree, it's lovely stuff - but it's not very useful for sending over the internet which is how things are done these days.

[Azz]

Bitcoin halves its per-block issuance 20 April, from 6.25 to 3.125. In other words, newly mined supply is halved. This is a positive-nature event if demand stays the same or increases.

[Mr Cashflow]

It's having some sell-off.Don't know why? Fell towards $60000.Curently below $ 64000.

[Azz]

It's having some sell-off.Don't know why? Fell towards $60000.Curently below $ 64000.

I think the overall trend will continue - ie, up.

[Azz]

Nice bounce to US$66,000. And not far off the ATH of US$73,800.

My price prediction for the next four years is the following.

* During 2024/2025 tops at new ATH of US$165,000, then
* during 2025/2026/2027 drops to low of US$95,000, then
* continues onwards and upwards toward a new ATH.

[Azz]

Bitcoin halves its per-block issuance 20 April, from 6.25 to 3.125. In other words, newly mined supply is halved. This is a positive-nature event if demand stays the same or increases.

"Analysts at Bitfinex estimate that the new BTC supply added to the market could drop to $30 million per day, amounting to less than five times the average daily inflows into the spot-based ETFs."

https://www.coindesk.com/markets/2024/04/23/bitcoins-post-halving-demand-to-be-5x-greater-than-supply-bitfinex-estimates/

[Waltzing]

Investment?

words .... bitcoin.... its almost meaningless ... its worth? 

really it reminds one of the advent of the german https://www.nsa.gov/portals/75/documents/about/cryptologic-heritage/historical-figures-publications/publications/wwii/german_cipher.pdf

why?

maths ...  combinations of technology ...

being used by humans for some means to an end....

Today you cant for example buy a digital vault at a bank...

your transactions cant be ID's at a bank using a cipher...

your transactions arnt secure in that your digital vault has no security certificate...

while the banking system is a show box paper based data base ... or feels like it...

Bitcoin will survive and its proof of work Derivatives...

Its not going away as it can used for things that a bank account cannot...

it like saying cash will go away or Gold Bars will go away...

As to it values that is simple demand and supply for what ever purpose individual find for it...

https://cointelegraph.com/learn/a-beginners-guide-to-blockchain-apis

Some AI LLM's are using BC to allow roll backs of models ......

Amazing the uses being found for this tech stuff...

but really one would have thought that fully distributed BC would be better with requests being made from the network to the clients as this would allow for greater security...

but them dont know much about it except who wants their datat on the central server anyway unless its requested and you grant it and for its lifetime that you allows....

Imagine the results of that... all your on line data centre software providers like say (Xero and others who steal your data) would suddenly have a very big problem on their hands...

Image you have an AI controller that stores your data where you want it and no one gets it unless you let them...

Better than block chain and probably the death of  how bitcoin works at present...

[Azz]

Holy hell! Bitcoin just went up a thousand US in ten minutes lol. That's a lot of money for hodlers for ten minutes "work".

[Breezy]

Holy hell! Bitcoin just went up a thousand US in ten minutes lol. That's a lot of money for hodlers for ten minutes "work".

Yes hodlers will be happy as you say, their fresh air is worth a thousand dollars more.

[Azz]

Yes hodlers will be happy as you say, their fresh air is worth a thousand dollars more.

Lol, your delusions are free!

[Azz]

I wonder who's done better? Those who uploaded money to the FTX crypto exchange run by a fraudster who then drove it into bankruptcy...? Or those who invested in, oh I don't know, use your imagination, it doesn't really matter, but let's provide the criteria of an NZ stock investment, with no dividend, and a steadily declining share price...?

---------------------------------------------
FTX says that nearly all of its customers will receive the money back that they are owed, two years after the cryptocurrency exchange imploded, and some will get more than that.

FTX said in a court filing late Tuesday that it owes about $11.2 billion to its creditors. The exchange estimates that it has between $14.5 billion and $16.3 billion to distribute to them.

The filing said that after paying claims in full, the plan provides for supplemental interest payments to creditors, to the extent that funds still remain. The interest rate for most creditors is 9%.

https://abcnews.go.com/US/wireStory/ftx-customers-money-back-2-years-after-catastrophic-110021371
---------------------------------------------

Those who uploaded money to the FTX crypto exchange run by a fraudster who then drove it into bankruptcy even made decent interest income over-and-above getting their investment back!

The ones with Bitcoin held on the exchange will be a bit annoyed, though: sure, they have their money back, plus interest, but they missed out on Bitcoin's 290% gain over the time of the bankruptcy administration. Oh well, can't win 'em all!

[Waltzing]

Think the great dutch flower crash ... bitcoin is useless except for criminals to use to wash ...

the technology is worth a lot ...

they are even using it for AI LLM's

[TraderRay]

Trump victory is sending BTC to ATH.