Bitcoin

[2531usmc]

So you’re saying energy is needed to bring gold to the market and one would assume the price of gold would need to be high enough to pay for all the energy used to bring it there?

I know of a gas and mineral mining company that built and multi million dollar warehouse full of computers to mine for btc. They collect the off gases and transport them to the warehouse where the gases are used to run generators that power the miners. Before they did this the company had to pay for someone else to come and dispose of the unneeded energy and they had to pay taxes. Now they get a tax credit and they store that “unneeded energy” for future use in the form of btc. So people get paid to mine the gas, pump the gas, move the gas, run the miners etc… sounds like economic value to that area.

In Norway there is a large warehouse full of computers mining btc. These miners are powered by energy from hydro electric, the miners heat large fish drying facilities which are critical to the local economy, which provides value. They also get value from the btc mined , so double value.

These are just a few examples of value, there are many more. Just bc you don’t consider it an economic value to you personally doesn’t mean there isn’t economic and societal value to the people that do use it.

Generally a higher energy consumption of a country is associated to a higher GDP.


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So after you’ve consumed this energy, what do you have left? A software algorithm?

 

[Ohiofarm]

I’d stay out of it!

 

[venomfever]

I think it's definitely worthwhile to have exposure. Finite amount, broader acceptance, David Sacks and Trump putting more foundational policy in place.

 

[fmyth]

I’d stay out of it!

 

[MountainTracker]

The Year In Bitcoin: How 2024 Took BTC Mainstream

History will remember 2024 as the year bitcoin transformed from a niche investment to a mainstream financial asset.

www.forbes.com

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[Johnnybobcat]

I just sold half of mine. Bought in around 15k and thought I was late to the party then.

 

[bozeman]

if/when it gets to $110k I'll prob sale. Will hold til then. May be dreamin, but.....

 

[CorbLand]

if/when it gets to $110k I'll prob sale. Will hold til then. May be dreamin, but.....

A couple weeks ago, you were about 4 grand away from 110K. I wouldnt think you are dreaming to hard.

 

[fmyth]

 

[Historybuff]

Nice one hour move

 

[Historybuff]

Not a bad week. Next 2 weeks might be huge

 

[MountainTracker]

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[MountainTracker]

Well this administration is determined to just destroy everything. This could light a fire under the new administration to go full btc bull.

Get ready for a buying opportunity.

DOJ cleared to sell $6.5B in Bitcoin seized from Silk Road

DOJ receives court approval to proceed with the $6.5B Silk Road Bitcoin sale despite ownership objections and volatility concerns.

cryptobriefing.com

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[MCS]

Why do people place value in crypto?

 

[CorbLand]

Why do people place value in crypto?

Why do people place value in fiat?

 

[MCS]

Why do people place value in fiat?

I don't place much value in fiat currency. I use it to buy assets. All fiat currency has or will fail.

 

[MountainTracker]

Why do people place value in crypto?

Well there’s about 692 posts above that will tell you why people put value on BTC.

Enjoy the read.


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[rickyw]

Excellent, let the DOJ sell it, then we can buy it when the price is down. Then they can pay off some of the national debt with it (yeah right)

 

[MCS]

Well there’s about 692 posts above that will tell you why people put value on BTC.

Enjoy the read.


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I went through about half of the comments here. Most people are looking for a quick buck.

It seems like there are no fundamental behind it besides speculation that it will be worth more.

People originally went to crypto to bypass the government monopoly on currency. Now the government tracks seizes and taxes gains on crypto. Also the government most likely created bitcoin as social experiment to see if digital currency would work.

So I'll ask again why do people place value in crypto?

 

[MountainTracker]

I went through about half of the comments here. Most people are looking for a quick buck.

It seems like there are no fundamental behind it besides speculation that it will be worth more.

People originally went to crypto to bypass the government monopoly on currency. Now the government tracks seizes and taxes gains on crypto. Also the government most likely created bitcoin as social experiment to see if digital currency would work.

So I'll ask again why do people place value in crypto?

I would agree with you that 99% of crypto is about making fast $, but so is the stock market. There is really only a few in both categories that constantly bring returns over long periods.

You use the word crypto, when this thread is about btc. Yes btc is crypto, but not all cryptos are the same, just like every stock is not the same. Separate btc from the rest.

The word fundamental is used as a catch all to try and discredit btc. When you say fundamental what exactly do you mean or are looking for?

Exchanges are required to file reports with the SEC for tax purposes, just like every stock exchange. They can use on chain analysis to see what wallets have received or holds btc.

The gov is able to seize the btc through serving a warrant on a domicile and locating hard drives that contain btc, or locate wallet passwords that have been written down, or seize it through plea deals. Without one of those the gov would not be able to seize the btc.

What doesn’t the gov tax?

So the gov created a form to store value that would directly compete with its own currency and hoped that people wouldn’t adopt it so they could see if digital currency would work?

To answer your question again, you still have 346 posts to read to find out why people place value on btc.


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