Bitcoin price suddenly surges to 3-year high

[Outback Bronze]

virtual asset's\items you virtually don't really have which was explained by caring1,

So what about exchanges. Do they show proof of what you own? They need personal details etc these days.

Its a cool mate, im not trying to start an argument here. I would just like to find out personal facts about this industry.

 

[AsRock]

same here, don't trust any thing that is not physical, just like i don't trust any of my games be there tomorrow.

 

[Chomiq]

In other news:

Crypto mining's upcoming ban in Inner Mongolia may help explain Bitcoin's recent resurgence

Inner Mongolia is an autonomous region of China with an economy best known for cheap power. It has thus reportedly become a magnet for cryptocurrency miners. Apparently, the region does not appreciate this attention, having just outlawed the practice.

www.notebookcheck.net

 

[trog100]

In other news:

Crypto mining's upcoming ban in Inner Mongolia may help explain Bitcoin's recent resurgence

Inner Mongolia is an autonomous region of China with an economy best known for cheap power. It has thus reportedly become a magnet for cryptocurrency miners. Apparently, the region does not appreciate this attention, having just outlawed the practice.

www.notebookcheck.net

this is connected to the sell offs coming from f2pool they have mining farms in several threatened chinese areas inner Mongolia being one of them.. its still just a theory though an attempt to explain why sell offs are still comimg from f2pool when the rest of the world is buying....

trog

 

[Space Lynx]

apparently when Ethereum forks into version 2.0 gpu mining ethereum will be worthless... what do you all think about this? and how far off is this fork 2.0?

Analyst: buying a high-end graphics card for mining would be "very foolish"

In JPR's latest report on the PC market, it notes that "the pandemic has distorted all models and predictions as has the gold-rush in Ethereum."

www.techspot.com

 

[Outback Bronze]

apparently when Ethereum forks into version 2.0 gpu mining ethereum will be worthless... what do you all think about this? and how far off is this fork 2.0?

Analyst: buying a high-end graphics card for mining would be "very foolish"

In JPR's latest report on the PC market, it notes that "the pandemic has distorted all models and predictions as has the gold-rush in Ethereum."

www.techspot.com

Roughly a couple of years. Its moving to PoS rather than the current PoW.

 

[yotano211]

apparently when Ethereum forks into version 2.0 gpu mining ethereum will be worthless... what do you all think about this? and how far off is this fork 2.0?

Analyst: buying a high-end graphics card for mining would be "very foolish"

In JPR's latest report on the PC market, it notes that "the pandemic has distorted all models and predictions as has the gold-rush in Ethereum."

www.techspot.com

They can always mine zcash. During the last mining boom some years ago, I switched from ETH to zcash since I was making more with zcash and zcash likes Nvidia more than AMD cards. It could be different in todays mining market.

 

[sepheronx]

They can always mine zcash. During the last mining boom some years ago, I switched from ETH to zcash since I was making more with zcash and zcash likes Nvidia more than AMD cards. It could be different in todays mining market.

Essentially when mining with nicehash, they will switch to whichever is profitable for GPU's. ETH right now is, but as stated by Yotano, zcash may end up being the next one.

Essentially any of these coins are simply a way to gain access to BTC. Hence called altcoins. ETH, ZCoin, Etc. With Trex it seems to mine octopus right now. I still get less from that than ETH so I switched back to Phoenix miner. Give it a few years and something else will be profitable for miners.

 

[Vya Domus]

He is a troll himself.

Not a troll, grade A manipulator.

 

[sepheronx]

Not a troll, grade A manipulator.

Is there really a big difference between the two? Trolling is another form of manipulation In my view. But I can be very wrong on that.

 

[Vya Domus]

Is there really a big difference between the two? Trolling is another form of manipulation In my view. But I can be very wrong on that.

A troll just wants to see chaos, this guy is all about one thing : money.

 

[yotano211]

Essentially when mining with nicehash, they will switch to whichever is profitable for GPU's. ETH right now is, but as stated by Yotano, zcash may end up being the next one.

Essentially any of these coins are simply a way to gain access to BTC. Hence called altcoins. ETH, ZCoin, Etc. With Trex it seems to mine octopus right now. I still get less from that than ETH so I switched back to Phoenix miner. Give it a few years and something else will be profitable for miners.

I was mining with a mining pool instead of nicehash.

A troll just wants to see chaos, this guy is all about one thing : money.

I think he might be on the edge of a mental breakdown.

 

[Space Lynx]

I think he might be on the edge of a mental breakdown.

I think he is just starting to become self-aware that he won't live long enough to see people on Mars. The hubris of all men falls eventually.

 

[sepheronx]

@yotano211

When mining with a pool, did you earn a lot more?

 

[trog100]

over the last year the dollar value of bitcoin has gone up by 425% and etherium has gone up by 525%..

if it follows the same pattern over the next year we would be looking at £200,000 bitcoin and $7,500 etherium..

i only started mining again about three months ago.. in retrospect i should never have stopped.. he he..

if it dosnt follow the same pattern who cares.. its still only monopoly money to me..

having said that i still wish i had more of it..

trog

ps.. i also see the created out of thin air US dollar as monopoly money.. this monopoly money get taken to Walmart and exchanged for made in china goods...

the chinese have to actually work and make the stuff they exchange for the US monopoly money.. the US now makes bugger all except more monopoly money..

there will come a time and it aint far away when the chinese get fed up with swapping their real work for american monopoly money.. the value of the american monopoly money will soon disappear up its own bum..

as for war with china.. being as the US has lost its ability to make stuff.. are we gonna buy our tanks and airplanes from Walmart like we buy everything else.. i dont think so.. he he he

 

[yotano211]

@yotano211

When mining with a pool, did you earn a lot more?

They charged 1%, I think nicehash charges about 5-7% is what I hear.

 

[Space Lynx]

over the last year the dollar value of bitcoin has gone up by 425% and etherium has gone up by 525%..

if it follows the same pattern over the next year we would be looking at £200,000 bitcoin and $7,500 etherium..

i only started mining again about three months ago.. in retrospect i should never have stopped.. he he..

if it dosnt follow the same pattern who cares.. its still only monopoly money to me..

having said that i still wish i had more of it..

trog

ps.. i also see the created out of thin air US dollar as monopoly money.. this monopoly money get taken to Walmart and exchanged for made in china goods...

the chinese have to actually work and make the stuff they exchange for the US monopoly money.. the US now makes bugger all except more monopoly money..

there will come a time and it aint far away when the chinese get fed up with swapping their real work for american monopoly money.. the value of the american monopoly money will soon disappear up its own bum..

as for war with china.. being as the US has lost its ability to make stuff.. are we gonna buy our tanks and airplanes from Walmart like we buy everything else.. i dont think so.. he he he

it's these kind of inaccurate posts that reinforce my belief bitcoin will fall eventually. also side note, 80% of American military gear is made in USA, with some European/Middle East allies help here and there for certain parts, China does very little for our military probably less than 2%. US Dollar isn't created out of thin air, people work and pay taxes generating 3.5 trillion in revenue every year. and like I said before even if you are right, and fiat begins to fail, guess who the treasuries of the world are going to tax the hell out of to balance fiat back out? even if you somehow bypass using exchanges to dodge it, they will require businesses that allow cryptocurrency to hand over all your information so they can investigate. (they already do this with a few computers parts companies that accept bitcoin). so yeah fiat will be ok. /shrug

 

[sepheronx]

it's these kind of inaccurate posts that reinforce my belief bitcoin will fall eventually. also side note, 80% of American military gear is made in USA, with some European/Middle East allies help here and there for certain parts, China does very little for our military probably less than 2%. US Dollar isn't created out of thin air, people work and pay taxes generating 3.5 trillion in revenue every year. and like I said before even if you are right, and fiat begins to fail, guess who the treasuries of the world are going to tax the hell out of to balance fiat back out? even if you somehow bypass using exchanges to dodge it, they will require businesses that allow cryptocurrency to hand over all your information so they can investigate. (they already do this with a few computers parts companies that accept bitcoin). so yeah fiat will be ok. /shrug

not quite.

It was balanced (budget and debt) back before Bush. But afterwards, the Fed reserve lending money to the US government has gone near out of control. It ends up being that the US Debt to GDP is equal (I think it is now above 100%). US Debt growth equals that to GDP growth mostly due to the fact that this debt is also viewed as investments and that is also a stretch. Faith in the USD is going down and many countries around the world are looking to trade among their respective currencies and EU is pushing for the Euro even more so in their foreign trades.

If you are unsure, just look up Quantitative Easing. It is a nice and fancy term for: Borrow lots of money, flood it to the banks and the stock market, in hopes to keep things afloat.

As for military, that is true to some extent. A lot of the electronics were imported. Recall the F-35 and the chinese semiconductors Fiasco? But that is about the last of the US great manufacturing, and even things like kevlar (helmets is perfect example) is made by prisoners at federal prisons.

 

[trog100]

it's these kind of inaccurate posts that reinforce my belief bitcoin will fall eventually. also side note, 80% of American military gear is made in USA, with some European/Middle East allies help here and there for certain parts, China does very little for our military probably less than 2%. US Dollar isn't created out of thin air, people work and pay taxes generating 3.5 trillion in revenue every year. and like I said before even if you are right, and fiat begins to fail, guess who the treasuries of the world are going to tax the hell out of to balance fiat back out? even if you somehow bypass using exchanges to dodge it, they will require businesses that allow cryptocurrency to hand over all your information so they can investigate. (they already do this with a few computers parts companies that accept bitcoin). so yeah fiat will be ok. /shrug

you are a true patriot lynx but your country really is creating money out of thin air and what i said about the US dollar in a jokey kind of way aint far from the truth..

fiat is f-cked which with all the money printing machines going flat out is pretty much inevitable.. what part bitcoin plays in all this i havnt a clue..

just think if the US dollar loses %50 of its buying power over the next year that would mean a $400,000 dollar bitcoin and a $15,000 eth..

trog

ps.. another jokey thought.. if china stopped sending all their junk to the US in exchange for the US monopoly money what would the average american be able to buy.. maybe the odd tank or two but not a lot else.. he he

 

[hat]

It's not just the dollar. Everyone is creating more fiat "out of nothing". This system we have was already in trouble, and the pandemic just amplified it.

That said, bitcoin gets its value from where? From fiat. The more bitcoin that is bought, with fiat, the more the value goes up. It goes down if a ton of sold. If fiat implodes, I don't think bitcoin will survive, either. The rich who are investing in it have plenty of other things of value to keep themselves afloat during doom and gloom. I don't think anyone is really counting on bitcoin to save them when the zombies come. Especially since it will be extra worthless when the zombies eat the internet.

 

[sepheronx]

It's not just the dollar. Everyone is creating more fiat "out of nothing". This system we have was already in trouble, and the pandemic just amplified it.

That said, bitcoin gets its value from where? From fiat. The more bitcoin that is bought, with fiat, the more the value goes up. It goes down if a ton of sold. If fiat implodes, I don't think bitcoin will survive, either. The rich who are investing in it have plenty of other things of value to keep themselves afloat during doom and gloom. I don't think anyone is really counting on bitcoin to save them when the zombies come. Especially since it will be extra worthless when the zombies eat the internet.

It is like a Digital gold really. It will still have its value if Fiat takes a nose dive. Who knows though. Maybe it will go up even more if Fiat takes a dive.

Its just to hold onto or buy illegal stuff (or tesla cars or homes in some localities). If Bitcoin expands even more in what you can purchase with, or used for international trading, then it will really boom. At least the sanctioned countries probably use it.

 

[mouacyk]

By this point, most people in crypto already know what they're doing. Common sense doesn't apply anymore. Anyone still thinking of trying to make sense of crypto should put that effort and resource into something that has tangible value. Regardless, pundits are still trying really hard to hit that $100K.

 

[trog100]

It's not just the dollar. Everyone is creating more fiat "out of nothing". This system we have was already in trouble, and the pandemic just amplified it.

That said, bitcoin gets its value from where? From fiat. The more bitcoin that is bought, with fiat, the more the value goes up. It goes down if a ton of sold. If fiat implodes, I don't think bitcoin will survive, either. The rich who are investing in it have plenty of other things of value to keep themselves afloat during doom and gloom. I don't think anyone is really counting on bitcoin to save them when the zombies come. Especially since it will be extra worthless when the zombies eat the internet.

gold and silver were the traditional safe haven stores of value.. some say they still are.. 60 years or so ago the US dollar was on a gold standard money tokens were linked to something real.. something you cant just create more of as and when it suits you.. we could go back to a gold backed dollar even if it is in digital form.. i doubt we will but its possible.. he who owns the most gold gets the most cash.. china of course owns loads of it.. they have been stashing it for quite some time..

mind you when the zombies eat the internet i think we will all be f-cked.. he he

all i am saying to lynx who thinks the dollar is safe.. is that he is wrong the dollar is far from safe..

trog

 

[Outback Bronze]

when the zombies come.

I want to know more about these Zombies!

 

[sepheronx]

I want to know more about these Zombies!

You will know soon enough. I heard it starts in Australia.

Or was it Austria?