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Bitcoin briefly drops below $6000; over $550 billion wiped off cryptocurrency market in...

By midian182 · 75 replies
Feb 6, 2018
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  1. Squid Surprise

    Squid Surprise TS Evangelist Posts: 2,011   +1,022

    Lol.... So now you've stopped even pretending to read my posts before you reply... Fair enough...

    At no point did I give Hitler a "pat on the back".... He was probably the most reprehensible person ever born.... But while he did many terrible things, Germany's recovery from its depression is an historical fact - and he was the leader at the time...

    As an aside, while Germany may have suffered during and shortly after WW2, they were quite quickly rebuilt - well, West Germany was - and, along with Japan, actually became economic powerhouses....

    And while you like to spout your opinion as if it is fact, NO ONE can claim that Bitcoin is dead.... It's still worth several thousand dollars and until it actually does die, anything anyone says is simply conjecture.

    Smarter people than all of us have predicted things, seemingly logical things, only to see the opposite occur....
     
  2. Cycloid Torus

    Cycloid Torus Stone age computing. Posts: 3,562   +949

    "no one is mining bitcoin anymore, not anyone with a gpu rig anyway"

    I'm still waiting for $200 GTX 1080s on eBay before I'm certain of that. Most recent is $830.
     
    Boilerhog146 and Squid Surprise like this.
  3. Boilerhog146

    Boilerhog146 TS Evangelist Posts: 615   +215

    I wasn't pretending ,I read every post.every word, saying he recovered the country, when he took it to the brink of annihilation, is akin to a pat on the back, I wouldn't be near so Generous.
    Germany would have recovered anyway,Hitler had Zero do with it ,nothing, he was a snake oil saleman .or Carpet bagger, if ya prefer. they were and still are an industrial Power house.,Before and after ,Hitler , and still make some of the best steel on the planet. Japanese steel is garbage, that's not just my opinion..and Germany's cars are second to no one.engineering,their Stone work, Masonry,etc.>.

    I've stated my opinion ,and I have stated facts ,don't mix them together as you spout yourself. people smarter than you and I have already made the claim that bitcoin is dead ,some just refuse to accept it.. it's being largely traded as an asset now.which would mean that it is no longer contributing much to the blockchain.

    who helped Japan recover? the brits only gave back Hong Kong, some years ago.Americans are so entrenched in asia now, never to leave .

    I don't think there are many really, REALLY ,smart people here .or I wouldn't frequent here myself. but theres lots here smarter than I .I have no problem to admit that,some obviously do,,I learn from them.but I can tell the difference between an opinion and a fact.some have trouble with that.

    I'd like a second 1080 for 200 bucks . I'd be dreaming if I thought it would be possible ,anytime soon. they are still mining other coins ,for now.
    is that $830 u.s. ,for used?,lol, I paid $729 cdn, for a top tier gigabyte, new ..I'll wait.
     
    Last edited: Feb 8, 2018
  4. mailpup

    mailpup TS Special Forces Posts: 7,255   +539

    I think you mean Hong Kong.
     
  5. Boilerhog146

    Boilerhog146 TS Evangelist Posts: 615   +215

    Thankyou.!..yes . speaking of smarter than we.. totally derailed the topic ,glad to see your moderating,keep us in line ,now would you please ,I'm surprised you let it go so far..

    but my point was ,after WWII the allies stayed and helped rebuild ,in asia after japan ultimately surrendered .they weren't left to their own devices,and are even now a huge trading partner ,with Canada and the u.s.
     
    Last edited: Feb 8, 2018
  6. Cycloid Torus

    Cycloid Torus Stone age computing. Posts: 3,562   +949

    Boilerhog146 likes this.
  7. Squid Surprise

    Squid Surprise TS Evangelist Posts: 2,011   +1,022

    That would have been MY point.... Germany and Japan were rebuilt after the war - so they DIDN’T get annihilated - and became economic powerhouses...

    Germany was only a united country from 1870, and were virtually annihilated after WW1 (which was why they were rebuilt after WW2 so as not to repeat that error!), so to say that Hitler wasn’t instrumental in their recovery is to ignore history... again, not saying he was a great guy or anything - just stating facts.

    And let me give you a definition of “fact”.... something that is true!! Since Bitcoin is NOT dead yet - you cannot claim that you saying Bitcoin is dead is a fact... even if other people agree with you! Lots don’t.... and even if everyone did, until it happens, it is merely an opinion...

     
    Last edited: Feb 9, 2018
  8. Boilerhog146

    Boilerhog146 TS Evangelist Posts: 615   +215

    (Shakes head) your still way off topic,aren't you spose to be in school doing this with a crowd of other children.

    anyway.I didn't say anyone GOT annihilated, go reread the post.thats twice you twisted my post,thats another troll, I didn't just call you a troll, but I call that shite,trolling. don't do it.

    I said even though Germany was paying for the damage they did in WWI they were still on the road to recovery, before Hitlers rise,when he came to power ,,he went on to make Germany even better for a time .then CRASHED. miserably. anybody can quote facts from a history book. yup ,facts are indeed facts ,can't dispute that,and after he was erased .Germany went on and still became an industrial powerhouse,proving ,what he did was total B.S.and unnecessary.some leader.pfffft..

    Has absolutely ZERO to do with my OPINION that bitcoin is dead.but if peops want to keep burning juice. and buying up video cards and baking them, for next to little to no return ,that's up to them. I don't have to agree with it,for the sake of an asinine argument ,this is my environment, and my economy too.btw. and I have no problem to protest ,whats being done by dumb azz, Greedy capitalists ,that you go on supporting and propping up ,I thought you were an educated man,
    Education doesn't necessarily make a person smart,and all the education on the planet will not make a person wise.

    my little bro is an Educated man,university , good government job ,travels everywhere , just built a big house in the nations capital , speaks 5 or 6 languages, but can't check the oil,or swap a friggan sparkplug, and is still an id*ot ,in many other ways! he isn't a very nice human being. still my little brother, TWIT! SLAP! hint.
     
    Last edited: Feb 9, 2018
  9. Squid Surprise

    Squid Surprise TS Evangelist Posts: 2,011   +1,022

    So there is your quote... I apologize, you didn't say annihilation, you said "brink of annihilation"... still wrong...
    Let's go over some more history... Hitler took over Germany in 1933 when Germany was actually on the brink of annihilation... By 1938-39, most countries were still suffering in the depression while Germany was looked upon in fear and envy... yes, envy... Despite the atrocities that were being committed, Germany had actually recovered early from the depression... Yes, they probably would have recovered eventually without Hitler - but even an extra month means many lives lost, and countless suffering... and all evidence would point to the fact that it would have taken Germany many more years to recover without him - much like the rest of the nations of the world.

    Obviously, losing WW2 did bring a lot of suffering to Germany - I didn't say Hitler was a great guy... just that he DID help them recover from the depression!! But they were NOT on the brink of annihilation because the western world, led by the US and their Marshall Plan, rebuilt them and they became the economic powerhouse they continue to be to this day.

    As for being off topic... YOU were the one who decided to argue about all of this - I was simply trying to compare the Great Depression to this "cryptocurrency disaster"... I argued, and still do argue, that the Great Depression was more calamitous than this "disaster", and yet despite that, it did not kill off the US Dollar (or any other currency of the time). To argue that because of this, that Bitcoin is dead is like arguing that someone is a witch because they weigh the same as a duck (see my previous link if you haven't watched Monty Python's Holy Grail)....
     
  10. Boilerhog146

    Boilerhog146 TS Evangelist Posts: 615   +215

    No need to get Apologetic ,yup saw the Holy Grail and other monty Python movies ,years ago,irrelevant.
    there is no comparison,between the great depression ,and the bitcoin Farce, the bitcoin crash hurt no one only those involved in bitcoin.and like some things in history , will probably get repeated.until it does actually die.in any case it will make no difference to me.
    but you can have the history argument, you have more texts to quote from than I do. also I'm not an Educated man ,I dropped out to join the army, didn't Grad till 40.
    my memories and knowledge of the great wars ,isn't just quoted from history books.it's passed down through generations.

    there's probably as many or more using 3D than there are using Bitcoin ,yet many say 3D is dead.go figure.
     
    Last edited: Feb 10, 2018
  11. Boilerhog146

    Boilerhog146 TS Evangelist Posts: 615   +215

    Last edited: Feb 10, 2018
  12. Squid Surprise

    Squid Surprise TS Evangelist Posts: 2,011   +1,022

  13. Squid Surprise

    Squid Surprise TS Evangelist Posts: 2,011   +1,022

    Have you never seen a datacenter? There are rooms full of computers all over the world doing the same thing...they're not Eco-terrorists...
     
  14. Boilerhog146

    Boilerhog146 TS Evangelist Posts: 615   +215

    They are not paying for the environment that they are destroying in the process. its eco- terrorism.. hope they get a good carbon tax bill. you help them pay it won't you.as your way of continued support.
    I guess dumping toxic waste in the ocean is ok as well..the ship, its fuel ,and wages are paid ,right?
    Ask all the kids in your class what they think...

    For a teacher and well educated ,your not very wise...!
     
  15. Boilerhog146

    Boilerhog146 TS Evangelist Posts: 615   +215

    yup I have . they have a use that's helping humanity, hospitals, schools, universities,governments. ,etc

    this is not doing the same thing at all.this does nothing for no one only the greedy.

    so tell me in one sentence how this is doing the same as a data centre ,where are the storage drives ?who does it help. wheres the data?
     
  16. Squid Surprise

    Squid Surprise TS Evangelist Posts: 2,011   +1,022

    They’re simply using electricity... they’re not doing any more damage to the environment than a steel mill. As they’re based in Hamilton, known affectionately as the armpit of Ontario, they’re barely the tip of the iceberg when it comes to destroying the environment.

    You say they’re not contributing anything to society... I suspect that anyone who is invested heavily in crypto currency would disagree - it’s things like this that keep those currencies afloat. Much like the millions of computers that are running for the various banks around the world keep our financial sectors alive... are they eco-terrorists too?

    Welcome to the digital age - almost everything requires electricity - I take it you’d like a return to the stone ages?
     
  17. Boilerhog146

    Boilerhog146 TS Evangelist Posts: 615   +215

    I'd like the technology now (carbon capture,etc).that would allow this to go on reducing harm to the environment. the steel mill in Hamilton is worse , what a shite hole. but that's been there for decades . that's no longer sustainable either.they had to clean up their act a lot. you may as well mention Syncrude and Suncor, in fort mac ,been there too. jobs and Economy....!
    Oh and The steel mill produces its own power ,for its electric blast furnace .need a lot of juice to make stainless and alloys ,normal blast furnace can't do the job.

    that justifies nothing,you make it sound like because they did it for years its ok for some one else to start doing it now.
    Look at the struggle in B.C. just to twin an existing pipeline . that attitude is no longer acceptable.

    ,been all over southern Ont. , I lived in T.O. for 5 years 1986-1991 ,We call T.O. the big SMOKE ,for its hazy dome.
    south of 401 on Weston road, across from Knobhill farms ,behind the D.Q. Fairglen Cres.

    thanks for the long post .you just put another angle on your argument ,ya didn't answer my question. I'll spin it to ya again.

    How is mining crypto, which only helps crypto peops. creating SQUAT for jobs ,doing nothing for the economy. , the same as the datacenter, or even the steelmill which makes steel for industry from coast to coast.and around the world. pretty good steel too compared to some .creating thousands of jobs.
    how are they the same ? just one sentence.if ya gimme a good answer, I'll leave ya alone , and a like.
     
    Last edited: Feb 11, 2018
  18. Squid Surprise

    Squid Surprise TS Evangelist Posts: 2,011   +1,022

    It doesn’t just help crypto people - it helps the entire economy... much like any other business, people are required to maintain those computers, other people have to manufacture the parts, etc...

    Unless you intend to simply criticize everyone who uses electricity, I don’t see your problem with crypto mining... you just spent a ton of posts saying how Bitcoin was dead - now you criticize people for mining it!! Well, if you’re right, then this will be a short lived endeavor... but clearly these people think you’re wrong... and I suspect plenty of others do too...

    Would you criticize gold miners too?
     
  19. Boilerhog146

    Boilerhog146 TS Evangelist Posts: 615   +215

    You spent a lot of post ,propping up something you don't invest in. helps the entire economy.?How ?

    yup, theres a few jobs related to the bitcoin mining equipment ,in the video I linked there were a couple guys there ,
    that equipment wasn't manufactured by a new startup, came from an existing plant ,already making hardware.though they have to eat ,and drive and transport parts, a long ways from a steel mill or a gold mine..no comparison there.

    gold mine's generate their own power as well .or they don't use any. .lots of people around a big gold mine ,equipment.Camp,kitchin,transportation.etc. I worked at 1 of them too.briefly, Lupin.

    I didn't criticize anyone, I am critical of the industry itself. go read my post again, tell me who I criticize, anybody.3rd time trolling.

    your trying to compare bitcoin ,to real commodities traded on the stock exchange, by real companys also traded on the stock exchange. try again..

    all the post the site can handle won't change my view.
    so how are they the same again?
     
    Last edited: Feb 11, 2018
  20. Squid Surprise

    Squid Surprise TS Evangelist Posts: 2,011   +1,022

    I'm not "propping something up"... I'm simply questioning why you think Bitcoin is "dead" and why it isn't a "real" currency...

    You're the one trolling with this stuff about people mining bitcoin being Eco-terrorists...

    There are plenty of jobs, especially in the tech sector, that don't seem to directly contribute anything to society. There are tons of people involved with companies like Facebook, Google, etc that people could argue contribute nothing other than digital nonsense...

    This is a tech website.... the internet is made of 1s and 0s and is technically "not real" either... yet here we are debating on it :)

    Now, as to the point.... Bitcoin IS NOT DEAD. It's still worth a crapload of money, and unless you own a time machine, you can't prove otherwise.
     
  21. captaincranky

    captaincranky TechSpot Addict Posts: 13,843   +3,249

    But the concept that a "post industrial society", can support itself or even exist, without agriculture, natural resources, and industry propping it up, is pure unadulterated bullsh!t.

    \
     
    Last edited: Feb 11, 2018
    Boilerhog146 likes this.
  22. Boilerhog146

    Boilerhog146 TS Evangelist Posts: 615   +215

    we weren't talking about social media ,though I don't FB, and google very little ,they both employ thousands, and are all over the planet ,used by millions.contributes.
    the internet also.contributes .
    still no comparison,
    my opinion on those large crypto mining ops. is just that ,you don't like it .that's your choice.
    Its worth less than half the crapload of money it was worth a month ago.

    I didn't refer to people that mine at home with their home computer .that bitcoin mining is dead . no one is mining bitcoin on a home computer anymore .don't need a time machine to figure that,been proven allready. and it wasn't and never will be a real currency.

    I do agree ,we disagree, that's the way it will allways be, regarding bitcoin ,

    if its worth so much,the price is way down ,its gonna go back up ? ,a good time to buy ,. if you have so much confidence in it .should buy a couple.be nice to have a time machine about now wouldn't it.
    when it has finished dying .and becomes to volatile even to trade. I'll come back to this topic.
    By that time it will be Etherium or some other crypto..
     
    Last edited: Feb 11, 2018
  23. Squid Surprise

    Squid Surprise TS Evangelist Posts: 2,011   +1,022

    We also weren’t talking about eco-terrorists... but you felt the need to add to the topic...
    I’m glad you finally agree that Bitcoin being dead is merely your opinion instead of fact... I guess some people can learn after all :)
     
  24. Boilerhog146

    Boilerhog146 TS Evangelist Posts: 615   +215

    You haven't added to the topic,the great depression ,monty python and the holy grail.should I go on..

    Bitcoin mining at home is DEAD.and many agree.
    I don't have to look through too many post to find someone that feels the same way.
    you have your opinion, and lots of text to go back and quote from ,Enjoy.


    Beginning to detect your bias there ,most of the early posts ,disagree with you also ,however you have not derailed the topic with them,Why?
    sorry to disappoint ,I've learned very little of value from you,
    Happy valentines Day..:)
     
    Last edited: Feb 11, 2018
  25. TheBigFatClown

    TheBigFatClown TS Evangelist Posts: 725   +267

    My "opinion" also. And many others:

    https://www.seattletimes.com/opinion/bitcoin-is-basically-a-ponzi-scheme/

    Quote from article above: "In fact, even bitcoin conferences sometimes refuse to accept bitcoins from attendees. "

    That pretty much says it all right there. They emphasize the benefit of not being traceable until they want that benefit for themselves? I wouldn't touch any bitcoin for all the tea in China. Unless it was given to me free in some record deal. Then I would sell it all off for legal tender in the United States as fast as I could.
     
    captaincranky and Boilerhog146 like this.

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