Hell Yes, I Bitcoin

[Foxx]

7 hours ago, CarpetCrawler said:

 

Please explain "mining".

All coins run on an algorithm. You solve complex mathematical problems on their respective algos to bring coins  into existence, as well as to process transactions.

[CarpetCrawler]

8 hours ago, Foxx said:

All coins run on an algorithm. You solve complex mathematical problems on their respective algos to bring coins  into existence, as well as to process transactions.

 

You solve them, or your computer solves them? I read something about needing a super computer to be able to mine them.

[Foxx]

3 hours ago, CarpetCrawler said:

 

You solve them, or your computer solves them? I read something about needing a super computer to be able to mine them.

Yeah, no way you would be able to solve these complex mathematical problems. With any sort of timing to reap a reward anyway.

 

The computer du jour to solve these problems are what are known as application-specific integrated circuit or ASIC's for short. Many algos were created to be ASIC proof, meaning you could not use them to run and solve these algo's and instead had to run GPU's (graphics board) but many of these algo's were cracked and can be run by ASIC's now.

 

There are a great many factors involved with mining which would affect the return.

 

If desired, I can dig up some posts I made on the subject back through the years.

[Koko]

3 hours ago, Foxx said:

Yeah, no way you would be able to solve these complex mathematical problems. With any sort of timing to reap a reward anyway.

 

42.

 

Give me my bitcoins now.

[devnull]

1 hour ago, Koko said:

 

42.

 

Give me my bitcoins now.

 

https://science.slashdot.org/story/21/01/31/0037221/hitchhikers-guide-to-the-galaxy-new-research-says-42-really-is-our-number

 

[KD in CA]

10 hours ago, Foxx said:

Yeah, no way you would be able to solve these complex mathematical problems.

 

You sure about that?

[devnull]

16 hours ago, KD in CA said:

 

You sure about that?

Kmart sucks

[plenzmd1]

TSLA bought $1.5B bitcoin..hmm

[Foxx]

1 hour ago, plenzmd1 said:

TSLA bought $1.5B bitcoin..hmm

And it shot up like 12% almost instantly @ $43K and change currently.

[plenzmd1]

24 minutes ago, Foxx said:

And it shot up like 12% almost instantly @ $43K and change currently.

this whole thing has me scarred as hell...the markets, Bitcoin, all assets just seem so inflated...but i have not hedged a ton yet on downside

 

[Foxx]

I see analysis that says waves 1 and 2 played out nicely yesterday and we are now on to the 3rd wave with a minimum target of $55K and that it can go much, much, much higher from here. To me, that would seem to be a very optimistic projection but stranger things have happened.

 

Not trading advice in any way, just quoting material I see elsewhere.

[Foxx]

Now @ 47K and change. Up over 21% on the day.

[Foxx]

Cramer today.

https://www.youtube.com/watch?v=1uKB-ljzn2M

 

[Foxx]

Rumors flying all about that Apple is about to announce a $5 billion investment in BTC. Along with speculation that next it would then be Oracle making a major announcement about their intentions. 

 

$100K here we come.

[plenzmd1]

16 hours ago, Foxx said:

Rumors flying all about that Apple is about to announce a $5 billion investment in BTC. Along with speculation that next it would then be Oracle making a major announcement about their intentions. 

 

$100K here we come.

hmm, that kinda talk is usually reserved for a top ....i am so torn on BTC now...i mean freaking Lindsay Lohan just tweeted about it

 

CEO of Twitter basically indicated they will be buying some on Squawk...tipping point is how many people want to pay in bitcoin

Edited February 10, 2021 by plenzmd1

[Foxx]

46 minutes ago, plenzmd1 said:

hmm, that kinda talk is usually reserved for a top ....i am so torn on BTC now...i mean freaking Lindsay Lohan just tweeted about it

 

CEO of Twitter basically indicated they will be buying some on Squawk...tipping point is how many people want to pay in bitcoin

As more and more retail begins to accept it as a form of payment, it becomes more and more mainstream. The more mainstream it becomes, the more it's value increases because it is deflationary/finite.

 

I am also beginning to see talk about Visa and Mastercard getting in. If they do, it's game over and Crypto adoption is here. The only question will then become, to what heights will the ultimate value reside at.

 

It may be that, as I have long opined, BTC will become an international intrastate settlement vehicle. If it does, then we are talking a value that is unprecedented. And, if that happens, other 'coins', such as "LiteCoin"  will replace it as retail vehicles.  

 

As for BTC though, the time has come to think in terms of "Satoshi", as that is going to be the term being splashed around going forward.

 

Very exciting times!

[plenzmd1]

@Foxx, she is smartest person in the world right i think..at least her ETFs are the best. Bitcoin $400K?

 

https://finance.yahoo.com/news/ark-cathie-wood-bitcoin-400000-000053537.html

[Foxx]

1 hour ago, plenzmd1 said:

@Foxx, she is smartest person in the world right i think..at least her ETFs are the best. Bitcoin $400K?

 

https://finance.yahoo.com/news/ark-cathie-wood-bitcoin-400000-000053537.html

Thank you for that, Plenz. Good interview and article. I would urge everyone here that if you haven't watched it, to go to 8:49 and listen because she is exactly right. Well mostly anyways. She is exactly right, in that, it is a much bigger idea than Apple or Amazon. As she states, because it is decentralized, no one entity can choke it.

 

And this is where I lose many here and I fully understand that but, I believe this with my whole heart. It is because it can't be squashed by a single state entity that it is going to change the course of mankind. Crypto is the people's money, a true valuation of worth. Not a fiat created and manipulated by TPTB to serve their whims. The people of Earth are going to decide what is of value. This has already been proven. Listen to where she tells us that China tried to squash the exchanges and stop crypto, the activity just moved to a different part of the world.  This is why I say it is ultimately going to reside as a state settlement vehicle.

 

I don't know if her valuations for this year are going to manifest as predicted but I do know that by December of this year, many are going to be shocked where the price point is going to be. I think I posted my prognostication for the time frame of this current bubble upthread a bit. 

 

Another little tidbit here, is that through all the iterations of my BTC threads on Bills football forums (first BBmB then TBD to here), it would seem that most of my focus and talk manifested in the subsequent iteration. The last being the intuitional inflow at the TBD thread, that is seemingly now occurring (before that it was the awareness of the mainstream). 

 

Satoshi my friends, Satoshi.

[Foxx]

6 hours ago, plenzmd1 said:

CEO of Twitter basically indicated they will be buying some on Squawk...tipping point is how many people want to pay in bitcoin

https://twitter.com/SquawkCNBC/status/1359501275650547714

 

[GG1]

This is pretty big news.  One of the world's biggest asset managers will hold Bitcoin in clients' investment accounts.

 

Quote

 

Bank of New York Mellon Corp. BK -0.52% , the nation’s oldest bank, is making the leap into the market for cryptocurrencies.

The custody bank said Thursday it will hold, transfer and issue bitcoin and other cryptocurrencies on behalf of its asset-management clients. In time, BNY Mellon will allow those digital assets to pass through the same plumbing used by managers’ other, more traditional holdings—from Treasurys to technology stocks—using a platform that is now in prototype. The bank is already discussing plans with clients to bring their digital currencies into the fold.

“Digital assets are becoming part of the mainstream,” said Roman Regelman, chief executive of BNY Mellon’s asset-servicing and digital businesses.