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Bitcoin price discussion and analysis

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wayneL said:
I went by the expanding but you could do yourself a favour and study up on the history money, our current reserve currency, with particular attention to the difference between gold backing and fiat of such, when things changed, and why.
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I have done quite a bit of reading on the topic, is there any points in particular you don’t think I understand that you feel would alter my opinion on Bitcoin?

I can’t think of anything in the history of currencies that would disprove my point that the functionality of a currency is reduced the more volatile it becomes, that’s the whole reason central banks put so much focus on managing their currencies, and is one of the reasons why they detached its value from gold.
 
Taproot is coming to Bitcoin soon

Taproot is a proposed Bitcoin protocol upgrade that can be deployed as a forward-compatible soft fork. By combining the Schnorr signature scheme with MAST (Merklized Abstract Syntax Trees) and a new scripting language called Tapscript, Taproot will expand Bitcoin’s smart contract flexibility, while offering more privacy by letting users mask complex smart contracts as a regular bitcoin transaction.

 
Is the rise in the Bitcoin price related to lower mining energy costs?
And If the BTC mining energy costs go up again will the price of BTC fall?
 
SyBoo said:
Is the rise in the Bitcoin price related to lower mining energy costs?
And If the BTC mining energy costs go up again will the price of BTC fall?
Click to expand...
Wait.... I thought it woulda been the other way round... Proof of work etc

But I really have no idea and still trying to grasp that, and the stock to flow concept, and whether it's valid or not.
 
SyBoo said:
Is the rise in the Bitcoin price related to lower mining energy costs?
And If te BTC mining energy costs go up again will the price of BTC fall?
Click to expand...
that is an interesting point of view but if energy cost goes up and BTC mining becomes more expensive, it reduces the production so BTC becomes rarer and so should be more expensive;
Doesn't that make BTC POO independent?
 
Am not fully up to date with costs, but I don't see how energy costs would have come down.

With the recent halving (bitcoin mining rates halve every 4 ? years), the costs have gone up, by theoretically double.

Invariably, the price of bitcoin fluctuates around the cost of mining, where energy is paid tor, generally at Western country rates.

Last I checked, bitcoin value was lower than mining cost... any mining investment for me entailed relying on a price rise of bitcoin.
 
When crypto consolidates it generally shows its run out of steam. You see it in the smaller coins first. Slowly starts to slip downwards.
I think they restricted the Asian market which took a lot of the juice out.
 
CleanSpark to acquire Bitcoin mining company ATL Data Centers to generate lower energy costs


10 December 2020
 
DB008 said:
Opinions on this?



​
Click to expand...
Interesting idea. I suppose as the world tries to catch on then money piles in.

Its hard to believe it was around the .08 cent mark a decade ago.
A $1000 bucks on a punt back then would have yielded 12500 coins. A cool $375 000 000 at $30000 (a bit less as .08 was USD). I had friends buying pizzas with it (US) back in the day.
 
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