Bitcoin Is Over $7,200!

[Big ole Boy]

Totally avoiding the question or comment.

If the pitch line is the dollar is bad, then

why use the dollar for the value point?

The dollar is the kings ransom. Thats what you wanted to hear.

But Mr. King may have lost his clothes?

 

[djd09]

Bitcoin value (not debt).

If it is not debt , what is it? What backs it? Here comes the circular.

 

[Meandering]

If it is not debt , what is it? .

What is it? Why it's a way to generate fees. Think you get your "value" out without having to pay dollars????


On Wednesday, digital distribution platform Steam announced that it will no longer accept A type of cryptocurrency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank. This term may also be used to reference either the network, protocol, or actual cryptocurrency.

As of today, Steam will no longer support Bitcoin as a payment method on our platform due to high fees and Tracking price movements over time of an asset like Ether or other virtual currency.
“In the past few months we've seen an increase in the volatility in the value of Bitcoin and a significant increase in the fees to process transactions on the Bitcoin network,” the company wrote. “For example, A transaction is a particular action that takes place on the blockchain. In a currency, the dominant transaction type is sending currency units or tokens to someone else; in other systems actions like registering domain names, making and fulfilling trade offers and activating contracts are also valid transaction types.

"transaction fees that are charged to the customer by the Bitcoin network have skyrocketed this year, topping out at close to $20 a transaction last week (compared to roughly $0.20 when we initially enabled Bitcoin).”

https://www.ethnews.com/steam-suspends-support-for-bitcoin-payments

 

[The Bob]

A programmer/wiz in computers approached me this week. He and I are putting together a 6 gpu mining rig. He has his own business with hospital accounts around the country. I was flattered that he wanted me to go in halves with him on a rig. In downtown Johnson City there are old big banks built back in the 30's. One of them says on the side "The Peoples Bank". Well, I am hoping to convince him we should try to mine Vertcoin which calls itself "the peoples coin". It has the algorithm set up in such a way that it discourages larger miners from mining it (an unpredictable difficulty pattern built-in). I want to mine the peoples coin and make a new type of bank.

How are you going to overcome the cost of electricity to make this worthwhile?
The big miner are using geothermal and solar.

Here's a DYI Ethereum rig...

http://www.coinminingrigs.com/how-to-build-a-6-gpu-mining-rig/

 

[DTB]

As some may remember, I have a knockoff job in my buddy's auto parts store so I'm in contact with a lot of young people.

One has a basement room with big electric feed and ventilation with around 6 machines mining bitcoin. The kid I know has a piece of it but his buddy makes a living off of it.

 

[Joe Flacco]

So much power. $17,000 on coinbase. $19,000 in Korea. Still $16,000 on Gemini.

 

[Elliott]

"Spin the Wheel, around it goes, where it stops no body knows, step right up people, you can't win if you don't play!. Step right up. The Wheel is about to spin again!"

 

[Joe Flacco]

Biggest two day move I can find in the chart.

 

[timd354]

"Spin the Wheel, around it goes, where it stops no body knows, step right up people, you can't win if you don't play!. Step right up. The Wheel is about to spin again!"

You got of love so-called investments that are based on nothing more than the speculation that more people will follow in behind you as it keeps going up and up for no apparent reason. Things like this used to be called Ponzi schemes and just like Ponzi schemes of the past this one is going to have a very, very ugly ending at some point. In the meantime, many fortunes will be made by those who got in and out at the right times and many will be lost for those who get in at or near the top before it all crashes and burns. In the meantime, lots of electricity will be used running many, many computers as a bunch of Russians and other shadowy enterprises continue "to print money out of nowhere" by "mining" bitcoins https://www.economist.com/news/euro...sive-computer-servers-why-siberia-great-place

 

[Joe Flacco]

When Tim and others with similar line of thinking start saying that they bought bitcoin, it is time to cash out.