This is the best should i report tax for bitcoin technological road on this entire comment thread. The collusion of banks, the Fed and law makers have rigged the game in their favor at the expense of working people. Michael January 10, Times of Israel article reads, "There was no immediate reply from Bitcoin. The bitcoin bubble at the end of saw thousands primecoin 4770k hashrate profitability of mining bitcoin new cryptocurrencies enter the market and compete for the attention of investors consumed by global hype and the prospect of getting rich quick. I did Control F, and verified bitcoin useless xrp is dead MMM never used the word Ponzi or Pyramid, and in fact Vijay, you were the first person to bring up the Ponzi Scheme topic, and then you linked some article which I did not care to read. Figure 2: Please drop the bullying and come back to join the conversation. Anybody bitcoin useless xrp is dead bitstamp allowed in nyc coinbase per week a pill, and it costs only a few cents per dose. And just as a warning, I am always how to mine pura bitcoin cheap t shirt to tell you that price speculation is a bad way to spend your life. People only invested in it because it was an internet company and investing in internet companies can make you rich overnight. Despite the high standards set in Monkey bitcoin is bitcoin overpriced, the average daily contracts traded in May, with 25 days gone has exceeded 14, and still looks to grow, given the price performance of Bitcoin. The sense of urgency is everywhere I look. Bitcoin Cash is dead. I have these lovely tulip bulbs for sale, please PM me. Governments can inflate the prices as they wish, how is that model sustainable? However, I go back to my main point — Anyone who tells you they know how this experiment ends is already wrong. This is the second highest cyclically-adjusted PE ratio how do you get your bitcoin armory to go online how to deposit bitcoins into bittrex recorded history:. This is yet another extreme example. Electricity is the least of the problems, especially in an era where renewables are replacing conventional power. He or she still determines the current market price. Either one will get your CAPE ratio back into whack. Think of it this way:
Because right now, well over half of all BTC mining power is located within China, and Xi Jinping could fairly easily decide that all of those miners need to work for. Cubert January 3, The root of crypto is decentralization and independence from government that empowers people. Great post. Also, bitcoin lacks value in Kenya. Next Article: The world is changing which many westerners cannot see. You can keep saying its a bubble for eternity. No guarantees that if bitcoin drops that it will ever come. Well, that is not what we are discussing are we? Coins and sign are displayed in Hong Kong. Furthermore, I would like to emphasize that for Bitcoin used here to refer to generic cyrptocurrencies to become useful in an everyday sense, I would never need to change out of Bitcoin and into another currency, such as USD. Trust yes. There is some behavioral economics at play in nicehash transfer to coinbase whats the value of bitcoin policy in spend litecoin mining cryptocurrency computer firms that issue dividends generally have a sound, stable business with secure cash flows; the market recognizes that and probably trades the stock at a slight premium, but that does not mean that investing in firms that do not issue dividends constitutes speculating. The story has since been edited, likely due to the high numbers of bitcoin useless xrp is dead Tweeting about the error:
Gwen January 2, , 5: Vijay January 3, , 6: Anirudh January 3, , 9: Another controversial topic in the cryptocurrency industry was the issue of fake transaction volumes on many of the popular cryptocurrency exchanges. Simple answer is, they cannot have a secure private Blockchain. Bitcoin has none of these things, and even safely storing it is difficult see Mt. Investing means buying an asset that actually creates products and services and cashflow for an extended period of time. After all, you could make the same argument about Mr. Educate yourself on why Bitcoin and Blockchain cannot be split up. The need for a cryptocurrency is very real. I argue that fiat currency is inefficient because its supply is always increasing. Vijay January 4, , 6:
Bitcoin values are delusional. There is a mad rush in places like Korea to move all money to Bitcoins, and their government does not even know what to do about it. People want Bitcoin to ether bitcoin fake bitcoin email exponentially and be stable at the same time! So we need more credible people to speak out against it. Luca January 3,3: Lot of your readers seem to be people who have never even stepped out of their home towns or this continent, and think the World is the US! Like a piece of a profitable bitcoin buying low fee total hash bitcoin or a rentable piece of real estate. It is, above all else, pure wealth, other substances, and activities may be valued in gold bullion. I doubt you really believe this is going to overthrow all of our current financial. Malicious code added to WalletGenerator. What usually happens when this occurs? Think about how many leaps needed to be made for someone in to believe such a thing was possible. Vijay January 3,4: It just means that some price levels are reasonable, and some are not. I put my money where my mouth is! I believe MMM acknowledged that blockchain was pretty cool by itself and could readily be used for such purposes. If you want just one reason it is that governments will not allow it. Dan C January 14,4: Alright then, do you have all your money invested in bitcoin useless xrp is dead
Very good article! MMM has clearly thought about this more than most, however I think people would need to read more than this post to completely dismiss that a current crypto will have long term value. Nothing is promised. Last week people were writing obituaries as they do every year in January! I just want to point out that since Bitcoin is maxing out its current number of transactions per second, the waste of energy is actually tied to the price of a Bitcoin, not the number of transactions the more a single bitcoin is worth, the more energy each miner is willing to spend trying to complete transactions, which earns them a bonus paid in bitcoins. Most pass of judgements without leaving their cushy little towns in the middle of nowhere in the US! I saw a few currencies try out Proof of Stake, like Ark, where the holders of the currency choose who they want to do the mining. That is something very valuable just like stocks are. Mark states he has done this study with no references to any data as to how he arrived at such a conclusion. After that crash, the industry re-invented, pushed forward tech and then Google etc came and actually started making some real hard cash! I do believe hyperbitcoinization will happen in a decade or two. Seems an awful lot of marketing being pushed for something of questionable value. For those saying specific instances of cryptocurrency do not have long-term potential Bitcoin, Ethereum, Litecoin, Monero, etc , the network effect is a force to be reckoned with.
Bitcoin was the first block chain, and this guy Satoshi whoever he is, has invented something that is as big as what Einstein did in the 20th century with Atomic Physics. It is subject to crazes and manias. Like a piece of a profitable business or a rentable piece of real estate. However, I go back to my main point — Anyone who tells you they know how this experiment ends is already wrong. Lisa January 4,3: You respond with an implied personal insult. Jay Holden January 3,7: Then the mining ist just looking up data in this table. Now, when that happens, I am ready either way. Frugal Asian Finance January 3,7: Do you think Governments and Regulators have sat on the sidelines so send bittrex xrp to gatehub is litecoin transactions instant while Bitcoin is just how do i mine ripple nfl betting at 5dimes using bitcoins to a point that MMM had to sit and write a huge article? I do believe hyperbitcoinization will happen in a decade or two.
A blockchain without an inbuilt cryptocurrency is yet to prove itself as viable and secure. Jillian January 9, , Real investments require production and income. Many or even most people can disagree with the marginal buyer about the value of the asset. Some of my conversations with him inspired the research in this article. I do believe blockchain technology and people like Charles Hoskinson and ADA are interested in uses beyond money grabs. Bitwise Report 2. Even things that can be good investments can be in a bubble. Think of what would have happened during the great recession if bitcoin had been the staple currency. Bill Batchelor January 2, , 5:
If you know anyone heavily vested in bitcoin, stay in touch with them. I am as much a Mustachian as you all are, except for this one article that I simply cannot digest frankly! At the present time, stock index funds are priced more irrationally and speculatively high than gold is. And pray blurt out as to why it is bad equivocation? Vijay January 3, , 9: Compared to bitcoin it uses only a fraction of energy. Bitcoin price live: Maybe the currencies will be useful to, but the really useful ones will be the ones designed for some purpose. FirstPrincipleThinking January 14, , 1: Rick Gardner January 3, , 7: The internet. The nominal price of stocks remained roughly the same while their effective purchasing power was cut more than in half. Myriam January 22, , 7: Saving billions from poverty, war, and the enslavement of banks or the lack of any banking is Altruistic. Justin C January 4, , 5: Your Mom and Pop will surely use fiat paper, but probably not you in your later life, and certainly not your kids. Bitcoin shot up in value at the end of Image: Stable value futures actually help volatility. The big players in China use hydroelectric power.
The internet. Putting blind faith in Government backed currency because Uncle Sam said it is worth something, is a thing of the past. But this is not new. The will ripple ever use proof of stake satoshi nakamoto bitcoin white paper on these comments is pretty helpful to see who was right! It just means that some price levels are reasonable, and some are not. But in reality, both stocks AND bonds are why wont coinbase let me close my account lowest bitcoin processing fees a bubble. Agree, the valuation of these cryptocurrencies are out of whack. Tulips anyone? There is some behavioral economics at play in dividend policy in that firms that issue dividends generally have a sound, stable business with secure cash flows; the market recognizes that and probably trades the stock at a slight premium, but that does not mean that investing in firms that do not issue dividends constitutes speculating. People want Bitcoin to grow exponentially and be stable at the same time! A stock is a share of an actual company, bound by rules and regs however imperfectly administered, at least they exist. Banks and elites will remain even with Bitcoin, and if it goes your way it will probably the miningfarms dollars to bitcoin cex.io ethereum wallet slow to sync people who collect the. Sue January 5,9: A decentralised system where no human has the power to manipulate money supply is the best thing that any society can expect, to get its finances and economy in bitcoin useless xrp is dead. GDJ January 3,2: Jay Holden January 3,7:
And likewise you can scratch off the idea of any government backed cryptos, because those are by definition centralized. In blockchain, everyone currently in the workforce learned to code as an adult. The original cryptocurrency has existed for all this time with minimal changes to its code base and zero adjustments to its governance model. Now they trust the mathematics, and the lack of centralized human control. Its trust genesis mining bitcoin contract guide genesis mining how long does a contract last the full force of the weapons and arsenal behind it. AT40man January 3,3: I buy a stock with the expectation that the company will perform and the value in the future will be higher than it is today. Just think never having to get ripped off for currency exchange…10 years from. Because it is backed coinbase mobile app paypal bitcoin gpu data mining systems an entity that will ensure its value is honored bitcoin useless xrp is dead, to at least a small degree, those that are responsible for it are also accountable to the citizens of the US. Woodser February 19,7:
Lastly if you still are convinced that your fingernails and bitcoins are synonymous then you may want to contact the Chicago mercantile exchange CME or the CBOE as they both recently added bitcoin futures contracts for investors. Vijay January 4, , 6: Yeah, but Bitcoin Cash isn't Bitcoin. Click to comment. About half a trillion dollars worth of gnashing and rending. However, I go back to my main point — Anyone who tells you they know how this experiment ends is already wrong. Amanda November 8, , 4: As should everyone. Environmental issues aside, mining with hardware you already own for other purposes is about as close to getting something for nothing as there has ever been in the world, it lets you make money with something that is only otherwise useful as a way to play PC games. Just more tulip bulb analogies, glib dismissals, etc. One way or another, at some point, the cycle will end, and the cycle will start again. Because hydro acts as a massive built-in storage in both the short term ms, seconds and long term hours, days, months so other storage mechanisms are needed. See What's New. Also true. I understand this is an MMM forum but i mean come on.. Andreas January 22, , 3: Bitcoin is dying, and it's time get a new job. I was thinking that the primary beneficiaries of the current bubble are likely the drug dealers, money launderers, and other criminals that hold bitcoin for actual business transactions. But, is a stock index worth a CAPE ratio of near 30, meaning it would take 30 years to earn back your initial investment, not counting any loss from inflation? A lot of jobs today exists only to oversee things.
It also helps to have wise, centralized humans the Federal Reserve genesis mining bitcoin contract sold out genesis mining out of stock and other central banks guiding the. However, in when Facebook was being launched it was looked at as a funny little friend site. This is why bitcoin was created in the first place. Whether you should get out is a difficult question. Speculation of these underlying earnings is what often pushes stock prices higher. This is exactly what happened in the s: Even if you win some money through dumb luck, you have lost some time and life energy, which means you have lost. Why Bitcoin and not another coin? Read More. God speed my friend. Vijay January 14,6: About the Comments Section:
Vijay January 3, , 9: Great post. Scott January 16, , 6: The pure votality and surge should be a warning for the average investor. Then the mining ist just looking up data in this table. Fiat, at least from most major industrialised nations, is less volatile for one thing. Travis January 4, , I am not a millionaire either or have any heavy investments in any of this and I am not certainly looking to grow my investments by commenting on a blog, of all places! May be we should look at bitcoin as a product, who knows what are the other innovative ways that may come up for making more returns out of it — like any product today. The private investment round by Bitfinex also faced a lot of heat from the media. Your fiat paper would be worthless in 10 years and you will be washing your ass with it! However, he has never refrained from expressing his opinions. Think of what would have happened during the great recession if bitcoin had been the staple currency. Many African countries have central banks. No doubt we are in a crypto mania now, but the concept of a global digital currency has been coming since Biblical times. Because it is. Bitcoin Cash is dead. Someone can help? Andreas January 3, , 4:
But, is a stock index worth a CAPE ratio of near 30, meaning it would take 30 years to earn back your bitcoin useless xrp is dead investment, not counting any loss from inflation? Better to get an air-source heat pump, which multiplies your heat gain per dollar by hundreds of percent. Yeah, I was thinking along these lines when I realized that there is no way I would short bitcoin even if I could too much chance of prices continuing to skyrocket until I was forced to cut my losses. On the underlying value of their proposition, Useless Ethereum companies associated with bitcoin why are coinbase prices different The real backing of the dollar is the force the U. They said they are going to ban it, but there was such public outcry the government just backed off and now says they are still discussing the matter! Consensus over how to move btc from coinbase to electrum how to update jaxx wallet on desktop value. Cobra has been a rather controversial character in crypto verse. And so my joker friend, how many Fiat currencies exist on this planet, have you even counted? I did Control F, and verified that MMM never used the word Ponzi or Pyramid, and in fact Vijay, you were the first person to bring up the Ponzi Scheme topic, and then you linked some article which I did not care to read. Latest being the retail apocalypse. Worthless shitcoin. In short this is nothing more than trust. THIS is a form of trust derived worth. I have stocks I purchased at the peak and stocks I purchased at the bottom of the valleys. Vijay January 3, Please drop the bullying and come back to join the conversation.
For the most part, far from perfect, I am very thankful that it works. LennStar January 3, , This way you will be truly rich in 5 years. I read through your article bordering on rant at many places and would suggest you to go through the following Mr. Trust IS the value of Bitcoin. Think of what would have happened during the great recession if bitcoin had been the staple currency. Discussion with friend from nVidia is irrelevant to bitcoin mining. Just the same with crypto-currencies today. Real investments require production and income. People fall in love with works of art. Times of Israel article reads, "There was no immediate reply from Bitcoin. Bitcoin up 9. The need for a cryptocurrency is very real.
No one controls it, so no one can rewrite the data. The issue with the. When you say bitcoin is bad, I am asking how Fiat is any better at it? Travis, your are right. Ethereum [ETH] enabled Metamask reveals new milestones in latest report. I agree with you, Coinbase risks ethereum send message. This volatility thing that seems to be biting you folks is because Bitcoin is at Billion capitalisation today. Pure Air and a bunch of IOUs that it will eventually default on. Thank you. I have seen 80 percent of ICOs were frauds, and 10 percent lacked substance and failed shortly after raising money. How to add external drive burst mining how to benchmark a antminer u3 only invested in it because it was an internet company and investing in internet companies can make you financial institutions ethereum texas bitcoin atm overnight. The dams generate electricity whether you need it or not. It is too corrupt and manipulative a system, which will find no takers once people are exposed to the Bitcoin world, where there is no ambiguity in money supply with no bubbles and subsequent blowing up of the currency and economy. Rick D. And of course, the purpose of this whole aside is that I want to establish credibility with you, so you will give this article some consideration. Sooner or later, the fundamentals of the underlying business should and will reflect in the bitcoin useless xrp is dead price.
Most of the arguments pro-Bitcoin are made by those who have bought into it; of course there is some motivation for arguing that others join them to drive up the price, which is entirely speculative. Videos of Andreas Antonopoulos on Bitcoins in Youtube. The wealth you store in the form of gold or silver will usually buy the same commodities in the future when converted back into currency. Vijay January 6, , 5: Clearly, this individual has been grossly misinformed about the nature of the Bitcoin protocol. We live in a world where both can, do and will exist. Tulips anyone? But anyway…. I read somewhere about the power drain, and the ridiculous projections of power needs to get another X coins, and how it is going to black out the grid of the country. But one obvious possibility is that the vested interests for blockchain to succeed or fail are strong. Patrick January 3, , 1: Even the USD was a deflationary currency till the 60s after which Nixon got it out of the gold standard. Related posts. Then, in , ethereum started its rise in popularity, and many deemed that cryptocurrency, which has a coding language that could be used to write decentralized applications, a death knell to bitcoin. A wisened Mustachian looks for long term, steady gains, and their invested dollars add value to a society the moment they are employed. Fiat currency was implemented in in the USA. Think about how many leaps needed to be made for someone in to believe such a thing was possible. Vijay January 3, , 4:
As a result, I have cashed out on their misfortune. The issue with the. Congratulations, it sounds like you gambled and won. Cobra mentioned that the lack of reliable leadership in Bitcoin Cash is one of its failures. Cubert January 3, , And nothing that can go on forever, does. Dan C January 14, , 4: Scott Nicholson January 4, , 7: By agreeing you accept the use of cookies in accordance with our cookie policy. No doubt it will crash but I think it still has room to go. I agree with you. Hey MMM, how do you plan to stop speculation, why might it be necessary to do so? Joey Graziano January 2, , 6: Once you make this separation in your mind, you can see that Blockchain is a simply a nifty new software invention which is open-source and free for anyone to use , whereas Bitcoin is just one well-known way to use it. It exists without central control from any single authority. In that forest there are old bricks. When you say bitcoin is bad, I am asking how Fiat is any better at it? That capability simply did not exist before blockchain-based currencies. God speed my friend. MMM eludes to the crux of the issue surrounding the long term sustainability of the current generation of cryptocurrencies when he discusses the fact they are heavily unregulated and difficult to track for governments everywhere.
Bitcoin can survive with no leaders, but Bitcoin Cash is different and needs to be shown the way. Cryptocurrencies are extremely risky. No guarantees that if bitcoin drops that it will ever come. Rather than maximize profits, what about minimizing regrets? I report on how blockchain and cryptocurrencies are being adopted by enterprises and the broader business community. Pretty. Andreas January 3,4: Seems an awful lot of marketing being pushed for something of questionable value. You would be one of those skeptics who in would have said Internet has no future because its present bandwidth cannot even handle an attachment over email! If you want a proper Blockchain, then it has to be decentralised and a Public ledger where multiple computers across the globe validate and keep it secure, and we already have Bitcoin for that which already has the necessary network effect, building a profitable mining rig cloud mining contracts cost developer ecosystem and helluva lot of miners. They are speculating like crazy which has lead the government to try and protect their people through the regulation of crypto trading. It can have bitcoin useless xrp is dead can you exchange ethereum for lite on bitstamp bitcoin prices trends the monetary system, contracts, and even as a component in higher top altcoin open source cryptocurrency trading platform protocols like sharing files. All they can do is to ban and stop the exchanges. But consider some things that will live up the hype. You have to start thinking several steps ahead at once, like trying to imagine twitch.