So only buyers understand this market?

Nobody understands this market. Some people just don't understand it a little less than others.

double bottom at 11k, or next stop at 9k (usd)

It's pretty obvious that in the long run, should Bitcoin become a dominant currency or asset underlying currencies, then the electricity burning of the proof of work would be far greater than the costs associated with centralized currencies. Some of it could be mitigated by using the heat, but most of it would still be lost in energy transformation.

The costs will be spread out over every transaction, in a market based manner, and what you're paying for is uncensorability and protection against inflation. The demand for this will probably vary greatly over time, based on the trust in centralized currencies and government, and the penalties and tax implications of using it. But even if there was at some point a total market domination, there would eventually emerge an alternative that was almost identical, but centralized and therefor with lower costs. And the tides would turn.

This is a hypothetical. Bitcoin might never become a widely used currency or basis for one, but then it doesn't make sense to compare its costs to FIAT systems' anyway.

Bitcoin direction is to use proof of stake on a 2nd layer for trivial transactions and proof of work for more serious ones.

So costs should be more balanced in the long run.

Bitcoin costs are pretty easy to evaluate, fiat cost are impossible to evaluate so that argument which i thought was meaningfull a couple of months ago doesnt seems that relevant.

Btc

You'd hate to be John McAfee's dick today.

So we know who made some money. Now who in here is down 40%?

Be honest...

Some of you are getting the stinky pinky right now.

This needed to happen, and honestly the sooner the better to shake out all the idiots buying tron, cardano, verge, ripple, dentacoin before they became big enough that the crash could destroy the entire crypto economy.

I agree with this but I still don't think bitcoin has a future.

Wonder when the really big holders decide to lock in some big millions before those millions vanish.

well holy ****

If this thing is a currency, it's a currency designed to double the diameter of your anus

That's my second rectal joke of the day for anyone scoring at home.

I cannot speak for everyone

But the vast majority of people who I know that got very wealthy in crypto sold > 25% of their spot holdings above 15k. That’s what we were all encouraging privately and I think it happened.

That certainly would have been the smart thing to do. Also means that a lot of people bought above 15k...

Exactly what is the "crypto economy" currently?

People buying tulips

i believe quite a few people on "crypto twitter" sold a lot around 7-10k during the blastoff and never got back in.

not long ago, haralabos was implying he would sell around 20k, which was a projection into the medium term future, and then it hit like a month later...i would like to know how much he sold!

I have no interest in trying to time peaks, especially when tremendous upside is there. I'll stop buying and wait for dips before re-allocating more, though. Now seems like a good time to do it. Thinking of going self-directed IRA route.

If bitcoin has no future, all of crypto goes to 0.

That is not necessarily true.

Not in this reality. No matter how much eth you own. All cryptos are highly correlated to bitcoin

4-digit proximity alert

This made me chuckle an I'm not even scoring

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