Bitcoins and Other Crypto-currencies

Curls wrote:

Lex-Man wrote:Selling my Bitcoin yesterday might have been a good move afterall.

Now buy it back for massive gains.

Tomous wrote:So Musk buys a load of Bitcoin, hypes it's up, price raises dramatically, then sells it and announces Tesla are not longer accepting, price starts dropping.

Almost feels like rich people have too much power sometimes.

Lex-Man wrote:

Tomous wrote:So Musk buys a load of Bitcoin, hypes it's up, price raises dramatically, then sells it and announces Tesla are not longer accepting, price starts dropping.

Almost feels like rich people have too much power sometimes.

I have a hard time with that because he's right.

Tomous wrote:

Lex-Man wrote:

Tomous wrote:So Musk buys a load of Bitcoin, hypes it's up, price raises dramatically, then sells it and announces Tesla are not longer accepting, price starts dropping.

Almost feels like rich people have too much power sometimes.

I have a hard time with that because he's right.

Do you mean right about what he said regarding the environmental impact? I agree he is, but the environmental impact was known about back in Feb when Tesla bought $1.5bn in Bitcoin...

Jenuall wrote:

Tomous wrote:

Lex-Man wrote:

Tomous wrote:So Musk buys a load of Bitcoin, hypes it's up, price raises dramatically, then sells it and announces Tesla are not longer accepting, price starts dropping.

Almost feels like rich people have too much power sometimes.

I have a hard time with that because he's right.

Do you mean right about what he said regarding the environmental impact? I agree he is, but the environmental impact was known about back in Feb when Tesla bought $1.5bn in Bitcoin...

Yeah this is nothing but Musk being Musk and doing whatever it takes to raise his own position. That doing it has temporarily aligned him with the truth is merely a coincidence

Lex-Man wrote:

Jenuall wrote:

Tomous wrote:

Lex-Man wrote:

Tomous wrote:So Musk buys a load of Bitcoin, hypes it's up, price raises dramatically, then sells it and announces Tesla are not longer accepting, price starts dropping.

Almost feels like rich people have too much power sometimes.

I have a hard time with that because he's right.

Do you mean right about what he said regarding the environmental impact? I agree he is, but the environmental impact was known about back in Feb when Tesla bought $1.5bn in Bitcoin...

Yeah this is nothing but Musk being Musk and doing whatever it takes to raise his own position. That doing it has temporarily aligned him with the truth is merely a coincidence

Yeah but if it does some good and destroys bitcoin it's actually fair enough in my book, although to be honest I imagine it'll recover it's lost value at some point.

Tomous wrote:

Lex-Man wrote:

Jenuall wrote:

Tomous wrote:

Lex-Man wrote:

Tomous wrote:So Musk buys a load of Bitcoin, hypes it's up, price raises dramatically, then sells it and announces Tesla are not longer accepting, price starts dropping.

Almost feels like rich people have too much power sometimes.

I have a hard time with that because he's right.

Do you mean right about what he said regarding the environmental impact? I agree he is, but the environmental impact was known about back in Feb when Tesla bought $1.5bn in Bitcoin...

Yeah this is nothing but Musk being Musk and doing whatever it takes to raise his own position. That doing it has temporarily aligned him with the truth is merely a coincidence

Yeah but if it does some good and destroys bitcoin it's actually fair enough in my book, although to be honest I imagine it'll recover it's lost value at some point.

Yeah but I'm not gonna give him too much credit when one of the reasons for the most recent surge is because how much he pushed it a few months ago

Tomous wrote:

Lex-Man wrote:

Jenuall wrote:

Tomous wrote:

Lex-Man wrote:

Tomous wrote:So Musk buys a load of Bitcoin, hypes it's up, price raises dramatically, then sells it and announces Tesla are not longer accepting, price starts dropping.

Almost feels like rich people have too much power sometimes.

I have a hard time with that because he's right.

Do you mean right about what he said regarding the environmental impact? I agree he is, but the environmental impact was known about back in Feb when Tesla bought $1.5bn in Bitcoin...

Yeah this is nothing but Musk being Musk and doing whatever it takes to raise his own position. That doing it has temporarily aligned him with the truth is merely a coincidence

Yeah but if it does some good and destroys bitcoin it's actually fair enough in my book, although to be honest I imagine it'll recover it's lost value at some point.

Yeah but I'm not gonna give him too much credit when one of the reasons for the most recent surge is because how much he pushed it a few months ago

Albear wrote:Appreciate this Crypto lark is better used as a longterm investment. Currently Got about £1k in my Tv Fund doing nothing whilst we save for a new TV that we weren't planning to do anything with until January Sales. Wondering would it be a good idea to buy £1k of Cardano and then forget about it for 6 months?

Few bitcoin projects illustrate the cryptocurrency’s enormous climate impact better than the Greenidge power plant in upstate New York. The once-abandoned power plant was bought by private equity firm Atlas Holdings and retasked. A significant portion of Greenidge's electricity no longer powers nearby homes or businesses; rather, the plant's smokestacks are increasingly pouring pollutants into the atmosphere in the service of mining bitcoin.

Now, Greenidge is on the verge of ramping up its bitcoin ambitions. By the end of this year, it plans to have 18,000 specialized machines mining bitcoin, and with the recent approval of its data center expansion plans, it will add 10,500 more. When the project is complete, the miners will be using 79 percent of the power plant’s capacity, or 85 MW.

And those operations appear to be fantastically profitable. Between February 2020 and February 2021, the company mined nearly 1,186 bitcoin at a cost of $2,869 per bitcoin. Today, one bitcoin is trading at $57,475.

Albear wrote:Appreciate this Crypto lark is better used as a longterm investment. Currently Got about £1k in my Tv Fund doing nothing whilst we save for a new TV that we weren't planning to do anything with until January Sales. Wondering would it be a good idea to buy £1k of Cardano and then forget about it for 6 months?

Lex-Man wrote:

Albear wrote:Appreciate this Crypto lark is better used as a longterm investment. Currently Got about £1k in my Tv Fund doing nothing whilst we save for a new TV that we weren't planning to do anything with until January Sales. Wondering would it be a good idea to buy £1k of Cardano and then forget about it for 6 months?

The issue is where's the crypto market going to be in January. It's possible that you'd end up with less money than you started with. That said it is possible to get double you money in a short time.

If you do it I would look to remove your cash a couple of months before you plan on buying your TV to make sure you still get at least what you put it.

Jenuall wrote:It's everything that is strawberry floated up about the world in a nice little package. People don't give a gooseberry fool about the fact that what they are doing is directly destroying the world as long as it makes them gooseberry fool loads of money.