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That's a good link(post#102) InsvestoBoy, explains the Fiat system well.
Bitcoin and cryptocurrency trading thread
- Thread starter greggles
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A new fun aspect of poor BTC scalability, especially all those who hopped on the bandwagon recently and bought a fraction of a BTC to get on the train.
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Worth a mention that Bitcoin is estimated to be (worldwide) using roughy the same amount of electricity as the combined consumption of WA, SA and Tas or enough to run all of New Zealand.
That’s not massive at the global scale obviously but it’s quite a lot of power to facilitate all this.
I wonder how that scales if this technology were to actually replace conventional currencies? I'm not an expert on blockchain tech so don't know the answer there but it does seem rather a lot of energy to make this work given that it's still a very minor thing in terms of actual transactions conducted with it.
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Energy consumption by bitcoin miners have been disputed by some experts according to the article below.
Hard data for actual energy consumption is required from bitcoin miners, but I guess they are holding everything close to their chest.
Digiconomist's index - Bitcoin energy consumption index
"Digiconomist's index has emerged as something of an authority recently. The index was developed by Alex de Vries, a 28-year-old consultant for PwC with a background in data and risk analysis who now specializes in blockchain, the technology that underpins bitcoin. He founded Digiconomist as a hobby in 2014 and acknowledges he has no previous experience in energy economics."
https://www.cnbc.com/2017/12/21/no-...to-consume-all-the-worlds-energy-in-2020.html
Hard data for actual energy consumption is required from bitcoin miners, but I guess they are holding everything close to their chest.
Digiconomist's index - Bitcoin energy consumption index
"Digiconomist's index has emerged as something of an authority recently. The index was developed by Alex de Vries, a 28-year-old consultant for PwC with a background in data and risk analysis who now specializes in blockchain, the technology that underpins bitcoin. He founded Digiconomist as a hobby in 2014 and acknowledges he has no previous experience in energy economics."
https://www.cnbc.com/2017/12/21/no-...to-consume-all-the-worlds-energy-in-2020.html
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None of us know when a bubble/boom whatever you want to call it will end.
Tech/A's position from a trading perspective is very understandable. Earlier in this thread he mentioned Ripple. I've been following it from around $A1, down to 90c now up to $A1.64.
Anyone that has bought on the dip to 90 cents or at market around the $ mark is currently doing very well.
It is not for me after my Sister-in-law mentioned it, and wanted to know all about it (ie how to invest), as that is one of my end of bubble indicators.
Over the same time, one of the penny dreadful stocks I've entered has also risen over 50%, there still plenty doing that in the bull market. Which is worse??
Frankly I don't know or care, but will stick to what I know best, while others have fun with cryptocurrencies.
One aspect I have noticed though, as I watch and collect information about these currencies (on coinspot).......
https://www.coinspot.com.au/tradecoins
.......is that those priced from a few cents to a couple of dollars seem to be those with the greatest % moves, mostly up over the last couple of weeks, while bitcoin has stagnated a bit. Also the number of coins available for trading seems to be growing rapidly.
Each to their own, if someone wants to gamble on this instead of commodities/stocks, then let them, especially some-one with the Duck's experience. However my SIL that has never traded anything, it is a definite no-no!! (same for most beginners here!)
Tech/A's position from a trading perspective is very understandable. Earlier in this thread he mentioned Ripple. I've been following it from around $A1, down to 90c now up to $A1.64.
Anyone that has bought on the dip to 90 cents or at market around the $ mark is currently doing very well.
It is not for me after my Sister-in-law mentioned it, and wanted to know all about it (ie how to invest), as that is one of my end of bubble indicators.
Over the same time, one of the penny dreadful stocks I've entered has also risen over 50%, there still plenty doing that in the bull market. Which is worse??
Frankly I don't know or care, but will stick to what I know best, while others have fun with cryptocurrencies.
One aspect I have noticed though, as I watch and collect information about these currencies (on coinspot).......
https://www.coinspot.com.au/tradecoins
.......is that those priced from a few cents to a couple of dollars seem to be those with the greatest % moves, mostly up over the last couple of weeks, while bitcoin has stagnated a bit. Also the number of coins available for trading seems to be growing rapidly.
Each to their own, if someone wants to gamble on this instead of commodities/stocks, then let them, especially some-one with the Duck's experience. However my SIL that has never traded anything, it is a definite no-no!! (same for most beginners here!)
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We're all gambling on it dude.
I, for one, am not saying don't do anything, just taking the piss and getting some good analysis in the banter,
whilst talking up and down the merits of Bitcoin. Which I maintain is the greatest short on earth.
I've actually been longing Bcash lows and selling the highs all the while.
Expecting push downs on Western holidays and buying back on normal days. It's how the Chinese behave. They can cheat on the electricity too! Watch me video a page or two back.
Gold Stocks
I, for one, am not saying don't do anything, just taking the piss and getting some good analysis in the banter,
whilst talking up and down the merits of Bitcoin. Which I maintain is the greatest short on earth.
I've actually been longing Bcash lows and selling the highs all the while.
Expecting push downs on Western holidays and buying back on normal days. It's how the Chinese behave. They can cheat on the electricity too! Watch me video a page or two back.
Gold Stocks
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tech/a
No Ordinary Duck
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Notting your full of it
Prove you have bought lows and highs
I’ll support ASF with a Gift of a grand
To Joe.
Why do you have this need to be the smartest
Poster in a thread?
Prove you have bought lows and highs
I’ll support ASF with a Gift of a grand
To Joe.
Why do you have this need to be the smartest
Poster in a thread?
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Sure thing Ducky.
And days like the one before Christmas when we're all drunk and distracted or all ready on holidays.
One of the things I am also mindful of is the Chomsky reading melenials who also all think that the central banks are totally corrupt, and that 9/11 was a hoax, terrorism as a fabricated excuse to build make war for oil and Bitcoin is the great Trump(drain the swamp) of the financial world ect ect. So I'm thinking Gold will become more and more of an attraction to them as Bitcoin fails or even as it appears to be taken over by the 'corrupt establishment'.
And days like the one before Christmas when we're all drunk and distracted or all ready on holidays.
One of the things I am also mindful of is the Chomsky reading melenials who also all think that the central banks are totally corrupt, and that 9/11 was a hoax, terrorism as a fabricated excuse to build make war for oil and Bitcoin is the great Trump(drain the swamp) of the financial world ect ect. So I'm thinking Gold will become more and more of an attraction to them as Bitcoin fails or even as it appears to be taken over by the 'corrupt establishment'.
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Thanks I didn't realize I was the smartest!! (smart ars now)
Yes I have bought Bcash a couple of times whilst bashing BITCOIN, sold it once and am long it now. Won't be making you a donation just yet though.
My gambling exploits are not totally devoid of logic, and I'm sharing the logic. That should be enough for you. Follow it if you think it's so good.
Your a great trader and I respect what you share very much and I understand your current stance.
The same can be said for Cryptokitties
So everyone, Ducky is much much much smarter than me, look I can barely string two words together. there you go.......
I should add that I can turn my argument regarding Chinese manipulation on it's head and make an equally strong case for why Bitcoine will never fail. Look at the way they rescued their share market. That was total manipulation. Bitcoin would be a snap. (not if the FBI or some such let the cat out of the bag however)
That's not what my instincts are telling me. Instincts are not necessarily the greatest thing to use as we know. However some are strong at times and the art of that is knowing when to trust them whilst ignoring them most of the time. Remember Qantas, there are quite a few but too hard to dig out.
I usually make a strong statement the flies in the face of technical or trends when I have it strongly. I will sometimes doubt it myself, after the fact, but when it's clear I share it also as a way of making a note to myself at that price point.
I have helped a lot of people make money sharing that. Then telling them not to ask me again! (used to do that at work, naughty yes! They did very well)
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tech/a
No Ordinary Duck
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As I thought.
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Note how BCash is slower to 'follow up' & down than Bitcoin and the rest up to this point. Just sayen
explod
explod
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There's no money in truth. So to remove fact in support of truth we have conspire in which I
I do believe.
Good discussion today.
I do believe.
Good discussion today.
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I had btc back in the Silk road days. I no longer hold, but I do love a rollercoaster.
Like most, I also think it is a bubble. However, would love to see it continue to rocket. My fear is that people who don't have the money will continue to 'invest' in it / with little to fall back on.
Goodluck to bitcoin and all those who follow it. There are risks, but if you believe you have those risks calculated and mitigated; continue to prosper
Like most, I also think it is a bubble. However, would love to see it continue to rocket. My fear is that people who don't have the money will continue to 'invest' in it / with little to fall back on.
Goodluck to bitcoin and all those who follow it. There are risks, but if you believe you have those risks calculated and mitigated; continue to prosper
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Might be a good time to add another $100k?
Majority of these coins will be worthless. But in the meantime cash in on your trading knowledge.
Same parabolic charts as back in the early 2000's.
I'll trade pig $hit if it's in a bull run.
There is a lot of dumb money still waiting on the sidelines.
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Wish I had the gonads for it, jeez there has been a lot of money made and lost, good on you for picking it.
Wish I had the gonads for it, jeez there has been a lot of money made and lost, good on you for picking it.
I invested in ripple and bitcoin a few years back after hearing a story of the guy that accidently threw out $5 million in bitcoin (his bitcoin is about $125mill now) wish I had of thrown more money into it now.
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Wish I had the gonads for it, jeez there has been a lot of money made and lost, good on you for picking it.
Maybe it's brains and not gonads holding you back, since you posted -
24hr high 22541
currently - 19900 -13.27%
As per Aud pricing on BTC
Whilst
Ripple rose 20 percent Wednesday to an all-time high.
The gains followed news that Tokyo-based financial services company SBI Holdings and its subsidiary SBI Ripple Asia announced the establishment of a "consortium" with some Japanese credit card companies to utilize blockchain technology, according to an online translation of a release. Ripple and SBI Holdings created SBI Ripple Asia in January 2016. It wasn't clear what the extent of Ripple's involvement would be in the new consortium.
