[Finance] The cryptocurrency (Bitcoin etc) thread

[PHCgull]

just dipped under $30k...

buy buy buy

 

[Blue Valkyrie]

I'm not a fan of it.

[tweet]1354338973934612480[/tweet]

Article paywalled, but summary tweet not.

 

[beorhthelm]

just dipped under $30k...

buy buy buy

if stays there for the days, tea leafs suggest fall to 23k

 

[MJsGhost]

Just shy of $44k, thanks to a steady climb back up before the news of Tesla buying $1.5bn of BTC and saying they plan to accept it as payment for their cars...

I wouldn't put it past Musk to have done this in the knowledge that the price would rocket - up roughly 15% already since the announcement...

Another step on the way to mainstream for BTC, or a publicity stunt / investment gamble from Musk?

 

[dsr-burnley]

Just shy of $44k, thanks to a steady climb back up before the news of Tesla buying $1.5bn of BTC and saying they plan to accept it as payment for their cars...

I wouldn't put it past Musk to have done this in the knowledge that the price would rocket - up roughly 15% already since the announcement...

Another step on the way to mainstream for BTC, or a publicity stunt / investment gamble from Musk?

It would be a strange publicity stunt. He's supposed to be in favour of cutting carbon emissions, not investing in the purest form of carbon emissions generation in the market.

I suspect it's a gamble that he hasn't thought through. Watch for the sell, fairly soon, with a public apology.

 

[Albion Dan]

This ponzi is going to zero.

Jokes aside expect a correction now. Alt market is on fire too.

 

[Notters]

This ponzi is going to zero.

Jokes aside expect a correction now. Alt market is on fire too.

Particl v3 could be big.

 

[MJsGhost]

This ponzi is going to zero.

Jokes aside expect a correction now. Alt market is on fire too.

It has made me a little twitchy today - I've converted nearly half of my BTC and ETH into Dai, expecting a drop (though I have a niggling doubt - maybe there's a 2nd spike coming as the Tesla news brings more newbs to the table).

Whatever happens, I'd be surprised if there isn't another opportunity to get back in at prices lower than today's within the next few weeks

 

[beorhthelm]

Just shy of $44k, thanks to a steady climb back up before the news of Tesla buying $1.5bn of BTC and saying they plan to accept it as payment for their cars...

I wouldn't put it past Musk to have done this in the knowledge that the price would rocket - up roughly 15% already since the announcement...

Another step on the way to mainstream for BTC, or a publicity stunt / investment gamble from Musk?

bit of both. he's clearly an advocate, there's similarities between crypto and his original vision for payment service that became Paypal.

was fortunate enough to already be in for trade from last night, tea leafs showed a rise from 38k to 44k.

 

[dsr-burnley]

It has made me a little twitchy today - I've converted nearly half of my BTC and ETH into Dai, expecting a drop (though I have a niggling doubt - maybe there's a 2nd spike coming as the Tesla news brings more newbs to the table).

Whatever happens, I'd be surprised if there isn't another opportunity to get back in at prices lower than today's within the next few weeks

That's how Ponzi schemes work.

 

[schmunk]

Just out of curiosity I put £30 into Coinbase a month ago, did the various 'free currency' quizzes which got it up to £50 with about 10 minutes' work.

Now sitting at £85, in about 8 different currencies. Not bad I'd say, and I don't really mind if I lose it.

 

[pb21]

It would be a strange publicity stunt. He's supposed to be in favour of cutting carbon emissions, not investing in the purest form of carbon emissions generation in the market.

I suspect it's a gamble that he hasn't thought through. Watch for the sell, fairly soon, with a public apology.

Depends what's powering the CPUs.

 

[pb21]

That's how Ponzi schemes work.

https://www.barrons.com/articles/wh...-what-will-drive-the-price-higher-51607134443

 

[CheeseRolls]

It would be a strange publicity stunt. He's supposed to be in favour of cutting carbon emissions, not investing in the purest form of carbon emissions generation in the market.

I suspect it's a gamble that he hasn't thought through. Watch for the sell, fairly soon, with a public apology.

I'm not a fan of it.

[tweet]1354338973934612480[/tweet]

Article paywalled, but summary tweet not.

Common sense is of limited use to you in the complex modern word and often unhelpful.

Please bear in mind;

You can mine bitcoin anywhere on the planet.
There are plenty of locations in the world with huge excesses of green energy, which it is not economical to transport.
Whilst the energy inputs are huge, there is also a strong economic incentive for pushing your energy costs close to zero.

There is a lot here to attract Musk, including the most efficient places on the planet to harvest energy, for an organisation heavily into energy storage and transportation, I can see how this might be of interest. Then you have the innovations driving compute power to its limits to mine the coins.

 

[Lower West Stander]

Just shy of $44k, thanks to a steady climb back up before the news of Tesla buying $1.5bn of BTC and saying they plan to accept it as payment for their cars...

I wouldn't put it past Musk to have done this in the knowledge that the price would rocket - up roughly 15% already since the announcement...

Another step on the way to mainstream for BTC, or a publicity stunt / investment gamble from Musk?

He’s probably put on some kind of elaborate basis trade.

Be a bit ironic if he’s shorted it post GameStop.....


Sent from my iPad using Tapatalk

 

[Albion Dan]

Bitcoin price

It has made me a little twitchy today - I've converted nearly half of my BTC and ETH into Dai, expecting a drop (though I have a niggling doubt - maybe there's a 2nd spike coming as the Tesla news brings more newbs to the table).

Whatever happens, I'd be surprised if there isn't another opportunity to get back in at prices lower than today's within the next few weeks

Still a high possibility BTC revisits $25-28k. It needs to find the weekly 200 moving average at some point to give the trend some robust structure. Everyone on Twitter calling $100k again. Usually the very best indicator a drop is coming.

I’ve got a bag of DAI. The defi stuff is going to fly believe me. Got Coti too. And also looking at EOS as hasn’t joined the party yet and the chart looks great.

 

[Lower West Stander]

Still a high possibility BTC revisits $25-28k. It needs to find the weekly 200 moving average at some point to give the trend some robust structure. Everyone on Twitter calling $100k again. Usually the very best indicator a drop is coming.

I’ve got a bag of DAI. The defi stuff is going to fly believe me. Got Coti too. And also looking at EOS as hasn’t joined the party yet and the chart looks great.

Think I’ll stick to things I understand....

Implied vol all over the shop and if Musk can move it that much - sorry not for me.


Sent from my iPad using Tapatalk

 

[Albion Dan]

Common sense is of limited use to you in the complex modern word and often unhelpful.

Please bear in mind;

You can mine bitcoin anywhere on the planet.
There are plenty of locations in the world with huge excesses of green energy, which it is not economical to transport.
Whilst the energy inputs are huge, there is also a strong economic incentive for pushing your energy costs close to zero.

There is a lot here to attract Musk, including the most efficient places on the planet to harvest energy, for an organisation heavily into energy storage and transportation, I can see how this might be of interest. Then you have the innovations driving compute power to its limits to mine the coins.

In the not too distant future we are going to have abundant cheap reusable energy. The technology will improve rapidly.

 

[beorhthelm]

Still a high possibility BTC revisits $25-28k. It needs to find the weekly 200 moving average at some point to give the trend some robust structure. Everyone on Twitter calling $100k again. Usually the very best indicator a drop is coming.

I’ve got a bag of DAI. The defi stuff is going to fly believe me. Got Coti too. And also looking at EOS as hasn’t joined the party yet and the chart looks great.

looking back, btc stayed above 200MA for two and half years before 2017 peak. starting this cycle in Apr 2020 gives a bit of a runway yet. 100k is lowballing, some of wilder speculators are shooting for 400k. we'll see july/august is likely the peak regardless of other factors and signals.

 

[CheeseRolls]

In the not too distant future we are going to have abundant cheap reusable energy. The technology will improve rapidly.

We have it now, just not always where we can use it, hence bitcoin miners, sitting on top of geothermal energy sources in sparsely populated remote places. This isn't the environmental doom story it may first appear was my point.