A single Bitcoin is now worth more than... $23,000

Gastec

Posts: 112   +53
Oh yes, you are smart.... let's buy Bitcoin, because tomorrow it will be worth 1 trillion, and we all will have yachts and private planes. Heard those praises, in psychiatric wards.

It is as crazy as turning my words into somehow supporting the worthless US dollar. I guess you just turn everything into what you want to hear from people are actually saying. I never said anything in favor of the dollar.
They say Bitcoin is here to replace the dollar and other currencies but still all they are thinking about is getting more Bitcoin to exchange for dollars, the coin they use to buy their yachts and private planes, or in some cases, directly with the metal gold.
 

terzaerian

Posts: 926   +1,325
They say Bitcoin is here to replace the dollar and other currencies but still all they are thinking about is getting more Bitcoin to exchange for dollars, the coin they use to buy their yachts and private planes, or in some cases, directly with the metal gold.
NewEgg accepts BTC through Bitpay. What Newegg does with it afterwards, who knows, but if they're smart they would keep it.

We look at BTC price in dollars because it's a unit of measurement we (and the public at large) are familiar with.
 

Gastec

Posts: 112   +53
Okay, you don't like the dollar, you don't like Bitcoin, so what exactly do you like? Are we supposed to just beat other people up to acquire goods? Or do you just believe that gold and gold alone has been ordained to be a store of value for all of time? I'm confused at how you think the exchange of goods and services should work here.
Gold is a rare metal with a lot of useful aplications. What is Bitcoin useful for, except to exchange it for dollars? :p
 
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No Longer Human

Posts: 48   +64
Please read the words you have used in your posts in this thread, compare them to mine and tell me who's the rude one.
As far as Bitcoin goes, buy all you like, I never said otherwise. I won't be, but then I'm just some random guy who expressed a different opinion than yours and wonders why you seem so emotionally invested in this.
 

terzaerian

Posts: 926   +1,325
Gold is a rare metal with a lot of useful aplications. What is Bitcoin useful for? Except to exchange it for dollars :p
You can exchange Bitcoin for Paxos Gold, a crypto pegged to gold, exchangeable for physical gold, and held to the strictest legal standards of the State of New York, right now.

This isn't an either/or proposition.
 

poohbear

Posts: 630   +548
I wonder if the pandemic and the uncertainty of 2020 led to this rise in Bitcoin? Maybe people don't see gold as a safe-haven asset anymore? They certainly don't with the American dollar. :p

Anyways, it looks like it'll now be extra difficult to find a new graphics card with the corresponding rise in Bitcoin mining. Anyone remember 2017-2018? GTX 970s were going for $500!!! lol

Btw if you guys wanna invest in Bitcoin plays on the Stock market, Paypal & Square are great options as they are now starting to process and accept Bitcoin as a payment method. (Paypal more so than Square, or you can buy a little of both.)
 

terzaerian

Posts: 926   +1,325
I wonder if the pandemic and the uncertainty of 2020 led to this rise in Bitcoin? Maybe people don't see gold as a safe-haven asset anymore? They certainly don't with the American dollar. :p

Anyways, it looks like it'll now be extra difficult to find a new graphics card with the corresponding rise in Bitcoin mining. Anyone remember 2017-2018? GTX 970s were going for $500!!! lol
I'm hearing that the current rally isn't being driven by retail investors like myself, but institutional investors that are seeing the writing on the wall for the dollar and moving into alternative investments.

Mining BTC with a graphics card now would be very unprofitable, but Ethereum and other alts can still be mined with them. Monero can even be mined (very slowly) with a CPU.
 

TheBigFatClown

Posts: 917   +357
Bartering requires having equivalent goods in trade. I might be able to grow some tasty jalapenos in the garden, but just how many of them is a GeForce 3080 worth to you?

The mistake with the logic in your comment is that 1) you only have jalapenos to barter with 2) NVidia only accepts jalapenos for payments.

Broaden your mind a bit. If "goods", "favors", "services", "food" were the actual money bartering would become easier. You could pay with one of many of those "currencies".

I know, it's a pipe dream, but who knows. The U.S. dollar is quickly becoming worth nothing so maybe we will all be forced into a better place.
 

BoowieBear

Posts: 22   +32
The mistake with the logic in your comment is that 1) you only have jalapenos to barter with 2) NVidia only accepts jalapenos for payments.

Broaden your mind a bit. If "goods", "favors", "services", "food" were the actual money bartering would become easier. You could pay with one of many of those "currencies".

I know, it's a pipe dream, but who knows. The U.S. dollar is quickly becoming worth nothing so maybe we will all be forced into a better place.

No advanced civilization with any form of a functioning economy can exist without a unit of exchange. Money in whatever form is not a middle man, it does not extract value from the transaction, it enables it. Review history and you will see every society advances to a form of money or cannot grow.
 

terzaerian

Posts: 926   +1,325
The mistake with the logic in your comment is that 1) you only have jalapenos to barter with 2) NVidia only accepts jalapenos for payments.

Broaden your mind a bit. If "goods", "favors", "services", "food" were the actual money bartering would become easier. You could pay with one of many of those "currencies".

I know, it's a pipe dream, but who knows. The U.S. dollar is quickly becoming worth nothing so maybe we will all be forced into a better place.
I think there is certainly a benefit for people to become more self-sufficient - to learn to grow their own vegetables, repair their own tools, and so on. I'm going to try and learn soldering to see if I can't revive an old graphics card with bad capacitors at some point.

But for a complex society to function a standardized unit of exchange is necessary. What attracts me to Bitcoinand crypto is that by design it does cut out a lot of the middlemen. Ethereum's smart contracts and DeFi promise to cut out even more of them.
 

Karlos95

Posts: 172   +98
It's a really poor choice for drug lords seeing as the blockchain is completely public. The savvy ones moved to Monero a long time ago.
It's almost like these drug lords haven't been using anonymous cash for 100s of years. Lol people will defend anything when they have been fed a lie all their lives. Pretty much a cult/religion thinking government has your back in these times.
 

Karlos95

Posts: 172   +98
The fact 20% of all dollars ever made were made in the past year isn't a "political statement", it's a fact. And if you can't work out why that is going to be a problem in the mid and long term, it's your loss.

Bitcoin and crypto is an escape vehicle from that sinking ship.

EDIT: Whoops ha ha I was wrong, it wasn't 20%. It's 22%.

https://www.reddit.com/r/btc/comments/j46lbt
When people comment on Bitcoin and still have know idea about their own currency LOL

Almost basic maths at this stage. The education system has done well to keep the masses not knowing these simple things.
 

Karlos95

Posts: 172   +98
They say Bitcoin is here to replace the dollar and other currencies but still all they are thinking about is getting more Bitcoin to exchange for dollars, the coin they use to buy their yachts and private planes, or in some cases, directly with the metal gold.
It can but won't. That is the beauty about choices.

Also, you are wrong in that last part. Plenty buy lambos, houses, and now small stores are accepting it.
 

Polaris1983

Posts: 15   +0
Have fun guys and don't become a btc day trading zombie on that self-charging nano battery smartphone and antminer battery self-charging nano battery psu like on the your pc desktop too breaking thought that 120v to 250v needed and nano battery laptop that also self charges and is very silent and doesn't smell either. Finishes up the nano-based CPU and GPU and dpu for ideas and thoughts on future dual CPU APU and GPU designs for laptops smartphones and desktops pcs and smart TVs going forward on those and ram chips and ssds and motherboards with 5g-10g intel name. 2 gpt-3 privacy modems like on the future wifi 7 chipsets as well as the 100 Gig ethernet ports using privacy chipsets based on gpt-3 that rewire your IP address in realtime to mask it. Same with decompressing and compressing large files at fast speeds with little to no data loss or quality loss on video files music files and data files in running games and apps for designing things that engineers use.
 

Polaris1983

Posts: 15   +0
It can but won't. That is the beauty about choices.

Also, you are wrong in that last part. Plenty buy lambos, houses, and now small stores are accepting it.

lol I can only wait and buy a self-charging nano battery psu antminer that runs quietly and does not smell bad as is totally not on the power grid here to get wealthy off of here as then I can be alone and free from worry but that's just a pipe dream for me not you.
 

Polaris1983

Posts: 15   +0
I game and mine crypto on an amateur level. You can do both.
That's why I'm pushing for a nano battery that self charges at over 5kw here as you need to start it up as itself charges as it mines BTC in the antminer or on your sli ru8nning BTC pc desktop silently and self-sustaining too not plugged into your power plug in your wall to not get hit by the electric company here too. Even smartphones and smart tv, as well as sli dual CPU GPU laptops and desktops, can benefit as well from self-charging nano-based battery cells here. Not just EV cars that could also do the same thing too as the ev motor can be turned into an antminer on the road as well with it having 5g and 6g internet connections. making money as you drive.
 

Polaris1983

Posts: 15   +0
The mistake with the logic in your comment is that 1) you only have jalapenos to barter with 2) NVidia only accepts jalapenos for payments.

Broaden your mind a bit. If "goods", "favors", "services", "food" were the actual money bartering would become easier. You could pay with one of many of those "currencies".

I know, it's a pipe dream, but who knows. The U.S. dollar is quickly becoming worth nothing so maybe we will all be forced into a better place.

Shrugs as that's why I vented on Quora a moment ago. But hey feel free to have fun and make money as I won't spoil your happiness and riches, guys, at the party as just inspect the PSUs and other electronics saying self-charging batteries and PSUs make your people even more money if you try to build it as you can effectively flip the power comapny the bird like cutting the cable cord too guys!
 

Avro Arrow

Posts: 1,256   +1,386
TechSpot Elite
I game and mine crypto on an amateur level. You can do both.
I think that you misunderstood. I'm referring to the 2017 mining craze that made Polaris cards essentially non-existent and caused e-tailers like Newegg to jack the prices of cards by 50% or more. If you can imagine, I bought a Sapphire Radeon R9 Fury Nitro+ for $200 LESS than the cost of an RX 580 at the time despite the Fiji being FAR more potent than Polaris (but not as efficient so miners didn't want it). I'm also referring to rumours that sneaker bots that bought the new RTX 30 and RX 6000 cards are being used by miners as well as scalpers.

Gamers don't hate mining, they hate large-scale miners that cause GPUs to become scarce and expensive. The second I heard Gamer Meld talking about the hash rate on the RTX 6800 XT and RTX 3080 I was like "Oh please dear god NO!".
 
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Lounds

Posts: 824   +726
Everyone thinks they're an expert and if they've invested anything into bitcoin they think that's it, it's the holy grail of investments. I don't think Bitcoin is going away but so far it's uses have mainly been for illegal activities such as money laundering and payment of black market goods, very few people use it as a currency for everyday uses.

One thing cryto lovers forget about the Dollar is it's an empire backed by the most powerful military on the planet with bases in most countries in the world. The US military isn't about protecting the freedoms of US citizens it's about protecting the economic value of the dollar and the need to keep expanding it's use around the world. Cryto has one hope of taking off and that's if China adopts it.
 

Markoni35

Posts: 1,078   +442
Even at 20k its a bargain compared to what it will be in 30-50years from now.

And if you wait 200 years, maaan, you'll be very rich. And marry a 20-year old girl who adores to spend her time with 200 year olds. In fact, I'd recommend waiting for at least 1000 years. What could go wrong?
 

Markoni35

Posts: 1,078   +442
Funny, when ever there is a bitcoin article saying something negative everyone no coiner comes out of the wood work and says how bad it is (without any knowledge of it or their own financial system for that matter) but no negative comments when it is at all time highs, must be sad they missed out lol

Actually, every time the articles say that something is growing fast and you should buy, that's a signal you should sell. When they say "Gold is gonna go really high" that usually means it will drop. Every "financial advice" in biggest mainstream media is turned against the majority of population. But the majority of population is stupid enough to believe them. Serves them right.