Bitcoin mining no longer profitable as costs soar

[Karlos95]

How is bitcoin "more secure than any bank in the world"?
Besides, something can be secure without wasting hardware & energy on it.

I simple google would answer that for you.

 

[Karlos95]

It's still going to disappear, like any other financial pyramid, just in a different way... The limited supply will eventually result in no more coins left to sell, then the price will spike crazily ($SSS day = Supply Starvation Spike), which will result in traders losing interest in Bitcoin, then it will collapse crazily, as institutions will withdraw, this time for good, they are just waiting for that crazy spike, to sell it all and get out. You may see a quick move of $200k -> $20k -> $2k inside a week, and that will be the end, as no bank will touch it afterwards.

They have been saying that since it's inception. Find a new cope.

Last coin the be mined will be 2140, don't think I care if it collapses then, I won't be alive.

 

[Karlos95]

Maybe, but Biden and Harris don't even have the capacity to know what anything in this whole article means.

These people have such small understanding of most things that there really is no point in trying to show them the way forward. They have been brainwashed for decades by mainstream media propaganda.

 

[GhostLegion]

Who keeps the economy going? The working class. Who benefits from the dollar not being tied to GOLD? NOT the working class. The economy will collapse without a working class and as they get pushed further down the money ladder due to depegging gold and using debt, that's exactly what will happen.

Again, take some economic courses and get back to me. The working class benefits from not having the gold standard. When the Great Depression happened, what did the Fed do? They raised interest rates to protect the value of the currency, increasing joblessness and worsening the depression. It’s poor redistributive policies and other fiscal policies to blame for the state of wealth inequality. The gold standard has nothing to do with it.

There are so many reasons why the gold standard is a bad idea. The fact that it renders forex unworkable as a floating exchange rate becomes impossible is one. Responding to macroeconomic conditions is another. After all, you can’t introduce stimulus without simultaneously purchasing gold. Seriously, how many economic classes have you taken? I’m getting my bachelors in Applied Economics. Doesn’t make me an expert but I think it’s clear I know more than you. Name one mainstream economist and cite a paper that advocates such a change. I’ll even read the paper.

 

[GhostLegion]

These people have such small understanding of most things that there really is no point in trying to show them the way forward. They have been brainwashed for decades by mainstream media propaganda.

Or…I read textbooks and they logically make sense?

 

[Cabuzzi]

It was inevitable....Trump keeps trash talking about Medicaid and China's economy to be "unsustainable" and yet he is backing the most unsustainable currency in the world .... Crypto.....that goes to show his ignorance in general.

The TDS is strong in this one. I love it when the best TDSers can find a way to tie Trump into literally every topic imaginable. I'll never get over how many people's heads Trump can live in rent-free.

 

[Karlos95]

Again, take some economic courses and get back to me. The working class benefits from not having the gold standard. When the Great Depression happened, what did the Fed do? They raised interest rates to protect the value of the currency, increasing joblessness and worsening the depression. It’s poor redistributive policies and other fiscal policies to blame for the state of wealth inequality. The gold standard has nothing to do with it.

There are so many reasons why the gold standard is a bad idea. The fact that it renders forex unworkable as a floating exchange rate becomes impossible is one. Responding to macroeconomic conditions is another. After all, you can’t introduce stimulus without simultaneously purchasing gold. Seriously, how many economic classes have you taken? I’m getting my bachelors in Applied Economics. Doesn’t make me an expert but I think it’s clear I know more than you. Name one mainstream economist and cite a paper that advocates such a change. I’ll even read the paper.

You really think the SYSTEM will teach you how bad the system is? Are you for real?

 

[GhostLegion]

You really think the SYSTEM will teach you how bad the system is? Are you for real?

No, I believe thinking critically does that for me. Also...you are aware there are differences in opinions among economists right? Why do you think behavioral economics was essentially heterodoxy for decades lmao. Also...way to completely not address my criticisms. Seriously, tell me, how does one implement monetary stimulus in response to a recession? Or are you going to advocate that we should not implement stimulus/contractionary monetary policy in response to changing macro economic conditions? Exactly where are you deriving the knowledge so confidently that the gold standard is so great?