Bitcoin hits new all-time high above $63,000 ahead of Coinbase debut(cnbc.com)
cnbc.com
Bitcoin hits new all-time high above $63,000 ahead of Coinbase debut
https://www.cnbc.com/2021/04/13/bitcoin-hits-new-all-time-high-above-62000-ahead-of-coinbase-debut.html
15 comments
Yeah, yeah. One thing I admire the Bitcoin fans - they are diehards. But at the same time, there's nothing new under the sun - greed is powerful! But it never ends well!
can't agree more, just can't understand why bitcoin could be so expensive
Person A see's a post about some crypto guy and how he paid off all his school loans with crypto, person A buys into crypto hoping for a similar outcome, this drives the price up. Person B seeing that the price has gone up regularly feels like he would be missing out if he didn't buy in, this drives the price up even more. Person A feels validated for investing because due to person B, the price has gone up, and maybe invests a little more, causing the price to shoot up, Person B feels validated... now imagine this circus with millions of people.
It's cheap if you value it through the digital gold thesis (it's close to 1/5th of the way there).
It all depends on your valuation framework, what's yours?
It all depends on your valuation framework, what's yours?
It is cheap for a global reserve currency. That's the ultimate goal.
the global reserve currency just owned by a few guys, can you image the future world will be?
You assume that early adopters still hold their Bitcoins. A tiny fraction of them might, most of them have sold (and regretted it, me including).
The Bitcoin traders are estimated to a few hundred million, certainly not "a few". Coinbase alone have approximately 56 million accounts.
The market is constantly crashing and reviving, people refusing to take the risk and buy should not complain afterwards for the new "elite" class. You had your chance (multiple times).
The Bitcoin traders are estimated to a few hundred million, certainly not "a few". Coinbase alone have approximately 56 million accounts.
The market is constantly crashing and reviving, people refusing to take the risk and buy should not complain afterwards for the new "elite" class. You had your chance (multiple times).
Your regret should be that you sold but didn't buy lower if you really wanted to be on this bandwagon. I bought, sold, and bought again, and sold again many times, and I've made money. So what? There are more intelligent ways to invest and even get better return.
such story could be widely spread that someone bought thousands of bitcoins maybe six or seven years ago, and hold it till now. then he's financial freedom.
Technically this is trying to relate to Coinbase’s IPO which is insanely valued. Of course there will be a fall later on too though.
And the energy usage goes up accordingly. If you care about climate change, sell.
When a producer's margins increases, it doesn't mandate that their costs / waste increases. When margins increase, it allows, but doesn't mandate, production to be expanded -- either by new entrants or existing producers. In Bitcoin's case, the market demands anti-fraud commitments (in the form of unforgable SHA hashes) to secure the network. The increase in margins available to bitcoin block producers means that they could increase hash production. This means bitcoin's money database that doesn't use war or violence to protect it, is even more secure against those who would interfere with it -- say eco-fascists who think politicized violence against block producers achieves some greater good.
Producers may source their input goods (equipment, energy) from any source they wish ("we only sell goods made with clean energy or From Our Area"). A kWh sourced from a hydroelectric plant has the same ecological cost be it consumed by a bitcoin block producer or if that kWh is used to charge a van that's used to drive people around a town all day to pick up paper with the faces of dead people on it so it can be counted and update a centralized database.
Luckily a freed market exists where we can price if the money maintained by freed people performs better than the Banking<->Authoritarian Oligopolies.
If you care about climate change, realize the infinite and perpetual money printing is destroying the earth by mandating perpetual "growth", and fiat money and their investment derivatives fuel that ecological destruction.
Producers may source their input goods (equipment, energy) from any source they wish ("we only sell goods made with clean energy or From Our Area"). A kWh sourced from a hydroelectric plant has the same ecological cost be it consumed by a bitcoin block producer or if that kWh is used to charge a van that's used to drive people around a town all day to pick up paper with the faces of dead people on it so it can be counted and update a centralized database.
Luckily a freed market exists where we can price if the money maintained by freed people performs better than the Banking<->Authoritarian Oligopolies.
If you care about climate change, realize the infinite and perpetual money printing is destroying the earth by mandating perpetual "growth", and fiat money and their investment derivatives fuel that ecological destruction.
Given that price is proportional to mining incentives and energy waste, at which point will be regulated?