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-   -   Bitcoin crash coming? (http://forums.pelicanparts.com/off-topic-discussions/1083640-bitcoin-crash-coming.html)

nota 06-15-2022 08:07 AM
Quote:
Originally Posted by sc_rufctr (Post 11717992)
well the china real estate market allready went do to the over built condo's
and ever grand frauds :rolleyes:

Paul T 06-15-2022 02:09 PM
Quote:
Originally Posted by Z-man (Post 11718037)
When people need funds, they cash out their investments. Crypto isn't impervious to this notion.

Now the question becomes: when does Bitcoin & co bottom out? Will it bounce back up again, and how long will it take? (Translation: is now a good time to invest in BTC?)
not in my opinion…Bitcoin’s intrinsic value is zero and I think price will trend there over time, once the “fad” of crypto, NFT’s, etc wanes. And I do think it’s a fad….invest in something that has real utility. Perhaps someday there will be a viable crypto, but I think that time is relatively far off, and I don’t think BTC is it.

David Inc. 06-15-2022 06:08 PM
Hey the world always needs a way to buy guns and people in the internet, so don't count Bitcoin out.

sugarwood 06-16-2022 04:12 AM
Quote:
Originally Posted by Paul T (Post 11717936)
Remember when people were claiming BTC was a good inflation hedge? LOL….how’s that working out?
Crypto is a hedge against value, and a store of inflation. LOL.

svandamme 06-16-2022 08:27 PM
Some schmuck sueing Musk for baiting him into buying into the dogr coin pyramid scheme.


Finally some action.

Gonna be interesting to see how that pans out in court

Pazuzu 06-16-2022 08:53 PM
Quote:
Originally Posted by red-beard (Post 11715540)
Here is a chart showing the cost per bitcoin depending on the cost of electricity.

https://powercompare.co.uk/bitcoin-electricity-cost/#:~:text=List%20of%20Electricity%20Cost%20Of%20Min ing%20One%20Bitcoin,%20%20%243%2C627.78%20%2074%20 more%20rows%20

At 5 cents per kWh, my cost would be similar to Uzbekistan at $4,245.28 per bitcoin. I'm not sure if this includes the cost of the equipment. And more modern equipment will produce bitcoin more efficiently than older equipment. Not sure if that is properly factored in.

I think the $22K per bitcoin is off.
I think you need to check your math, the numbers you took from that site are WAY out of date.
Now, you're looking at:
(0.05*1582*1780)/6.25=$22,500
That's with your extraordinarily cheap $0.05 per kWh.

sc_rufctr 06-16-2022 11:48 PM
Quote:
Originally Posted by svandamme (Post 11719687)
Some schmuck sueing Musk for baiting him into buying into the dogr coin pyramid scheme.


Finally some action.

Gonna be interesting to see how that pans out in court
:eek:

"Elon Musk, Tesla, and SpaceX are being sued for an astounding $258 billion—not a typo, that's billion—for running a pyramid scheme through the Dogecoin cryptocurrency. According to a Reuters(opens in new tab) report, the suit was filed by Dogecoin investor Keith Johnson, who accused Musk of using his wealth and position as CEO of the two companies to promote Dogecoin to drive up its price, before ultimately letting it fall."

https://www.pcgamer.com/au/elon-musk-is-being-sued-for-dollar258-billion-because-of-dogecoin/

Paul T 06-17-2022 06:30 AM
Quote:
Originally Posted by sc_rufctr (Post 11719730)
:eek:

"Elon Musk, Tesla, and SpaceX are being sued for an astounding $258 billion—not a typo, that's billion—for running a pyramid scheme through the Dogecoin cryptocurrency. According to a Reuters(opens in new tab) report, the suit was filed by Dogecoin investor Keith Johnson, who accused Musk of using his wealth and position as CEO of the two companies to promote Dogecoin to drive up its price, before ultimately letting it fall."

https://www.pcgamer.com/au/elon-musk-is-being-sued-for-dollar258-billion-because-of-dogecoin/
Good, and I hope he's not the last. So many celebs have been online shilling for various coins and NFT's, it's disgraceful. It's illegal to pump and dump stocks...this stuff should be no different.

Wayne 962 06-18-2022 12:28 AM
Looks like the Bitcoin crash is now here - 18,846.90 USD and falling super rapidly...

-Wayne

KFC911 06-18-2022 02:46 AM
Quote:
Originally Posted by Wayne 962 (Post 11720454)
Looks like the Bitcoin crash is now here - 18,846.90 USD and falling super rapidly...

-Wayne
The inevitable BC train crash.... the cars at the back end of the line just haven't derailed .... not just yet.

It's hard to look away from a train wreck :D....

svandamme 06-18-2022 06:04 AM
Gonna be a lot of idjuts out there who thought to ride it out, kept buying and will end up jumping off a ledge over this. Hard to be rich one day and a dirt poor sob the next.



The only reason it's not tanking to 0 right away, is idjuts who just buy more thinking it will rebound.

McLovin 06-18-2022 08:33 AM
Quote:
Originally Posted by McLovin (Post 11356454)
I’m glad I got out at 40k.
Bitcoin will get below 10k again.
My post from last June.
It’ll be there soon. :D

manbridge 74 06-18-2022 08:40 AM
I wonder where the super secret mysterious creator of BT got out at.

sc_rufctr 06-18-2022 09:17 AM
Quote:
Originally Posted by manbridge 74 (Post 11720682)
I wonder where the super secret mysterious creator of BT got out at.
On or around the 12 March 2022?

"U.S. President Joe Biden signed a sweeping executive order on cryptocurrency on Wednesday, March 9, 2022. The order directs government agencies to coordinate on a regulatory framework for digital currencies. We want to help you make more informed decisions. 11 Mar 2022"

https://time.com/nextadvisor/investing/cryptocurrency/biden-executive-order-crypto-expert-reaction/

svandamme 06-18-2022 09:22 AM
Quote:
Originally Posted by manbridge 74 (Post 11720682)
I wonder where the super secret mysterious creator of BT got out at.
Well (s)hestarted the ponzi/pyramid
and (s)he managed to stay completely anonymous

I would say that's the best way to run a ponzi/pyramid scheme
That's where most big ponzi crooks failed : they were known

brp914 06-18-2022 10:07 AM
Pleasant dreams to all the bitcoin investors. It always happens in the wee hours.

http://forums.pelicanparts.com/uploa...1655575492.jpg

tabs 06-18-2022 12:20 PM
Hey Jordan Peterson touted me onto Bitcoin Crypto.at 65000... now it's less than 30000.... I turned a big fortune into a little one.

My 7000 Sq Mansion, Gulf Stream, 150 ft yacht, vacation house in LA Jolla, Bentley and Lambo all got repoed when I had to make a margin call. Now all I got left is a beat up old pu truck and am eating at Jack in the Box.
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REPLY

Wayne 962 06-18-2022 01:38 PM
It's odd - on Reddit, there's a *ton* of chatter on the Bitcoin subreddit about how it's going to $10K. In the past several years, one *never* heard anything negative like that. Sentiment is definitely changing quickly!

-Wayne

McLovin 06-18-2022 02:42 PM
You heard it from me a year ago!
Pelican > Reddit

ShopCat 06-18-2022 07:30 PM
The mining talk on here seems to all miss one large point, the algorithm is programmed to set mining time to roughly 10 minutes so it ramps difficulty up and down depending on number of miners. Therefore, there will never be a point where mining cost is higher than btc value. This is very basic knowledge of btc mining.


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