discuss Bitcoin above $16,000. Where is it headed?

[Arpit131]

Bitcoin is already trading at $16,300+

Where do you think it will cap out?

 

[xynames]

Meaning, you are more likely to win the lottery while holding hands with Jennifer Lawrence... on the moon.

Funny, because a friend of mine met JLaw in the L.A. restaurant club Dan Tana's about a month ago and he was claiming that she gave him her number. I was actually supposed to be there that night too, but I ended up not going. Anyway, after he told me this about getting JLaw's number I was like, yeah yeah sure, although I did know that he was at a VIP Table and she was at a VIP Table next to his, because some of my other friends who were with him that night did verify that JLaw was there, but the story seemed like another of his tall tales for which he is known.

What about Darren Aronofsky? I asked him, isn't she with him?

No, he said, she told me they broke up.

Hmm...but then...just recently the news came out that yes, JLaw and Aronofsky are broken up. So he obviously did talk to her, because that news was not public a month ago. Whether he really got her number, who knows.

But if he did get the number...then I guess the chances of his holding hands with Jennifer Laurence, though not on the moon, would be higher than any of these guys's recovering any of their lost bitcoin.

 

[slimjim270]

@DomainVP

Thanks for the detailed response! (much appreciated)

You response is great example and sheds light on the reality of early days of mining.

To the OP's original post - I would suggest that the future of mining Bitcoin (for a Reward) might shift to "Salvage" operations should BTC exceed $100,000 per BTC.

Reason - given that Blockchain.info provides a history of "public key" account information along with transaction dates and account balances, there might be a new software tool developed to "salvage mine" (hash via RCG) for "private keys" that find a way to reverse search for accounts that have no transaction history for the past 5+ years, but have 100+ coins lying dormant.

The cost of running these salvage operations is electricity... and the rewards electrifying.

It might be far fetched... but so wasn't it far fetched 8 years ago to think BTC would go from 6 cents per coin to $1,600 per coin... and to think 8 years ago that mining rigs would go from 1 MB CPU mining to 14 TB mining..

From mining -> to pirates -> to salvage.

The title may change, but the drive for success won't.

 

[xynames]

The way mining works is that the fastest and therefore first to get to the operation gets the mining "fee." As we get closer to having less and less bitcoin available for mining, it is becoming exponentially harder to mine, requiring ever more processor power and speed to be the first to collect.

While the price of BTC has gone up a lot, it has gone up only algebraically since 2013, not exponentially.

Therefore, it is getting less and less cost effective to do mining, other than in huge collectives. The days of buying your own processor to do this, no matter how fast, are pretty much over.

 

[HotKey]

Can these digital wallets not be backed up, or are they specific to the device they are stored on?

 

[SirDrago]

Can these digital wallets not be backed up, or are they specific to the device they are stored on?

Check Google for "Hardware wallets"
Nano Ledger s is perhaps #1in my opinion.

 

[HotKey]

Check Google for "Hardware wallets"
Nano Ledger s is perhaps #1in my opinion.

Ok, tx. Was wondering because of DomainVP's loss:

lost hundreds of BTC to reformatting my laptop

Which is crazy because there has to be a way to protect against that.

Also found
https://en.bitcoin.it/wiki/Backingup_your_wallet

 

[.NJ]

I dont think 90% of the people who recently invested in btc understand the concept of short selling.

There are MANY people and huge financial institutions drooling right now with the thoughts of shorting btc.

Trust me....its coming.

 

[SirDrago]

Trust me....its coming.

Its here...

 

[.NJ]

Its here...

Show attachment 74873

Wait till next week....

The storm is brewing.

This is all a game well played by some BIG players.

 

[SirDrago]

Wait till next week....

The storm is brewing.

This is all a game well played by some BIG players.

Futures go live tomorrow in Chicago after 10 days of passing the law.
10 day's.... what can possibly go wrong? lol

 

[wwwweb]

Futures go live tomorrow in Chicago after 10 days of passing the law.
10 day's.... what can possibly go wrong? lol

Supposedly analysts says wall street can’t wait to short the hell out of it.

Should bring for some great spikes if they have to run, and cover positions.

 

[SirDrago]

Supposedly analysts says wall street can’t wait to short the hell out of it.

Should bring for some great spikes if they have to run, and cover positions.

In my honest opinion the analyst are 100% correct.
I advise EVERYONE to place "stop losses" Accordingly.

 

[.NJ]

Shorting btc at these prices is what dreams are made of on wall street....

 

[xynames]

It’s naive to assume that anything works out the way experts predict. Watch and see.

 

[SirDrago]

More so when you don't see what's in front of you.
Taken 30 seconds ago..

 

[xynames]

It’s trading over 15,000 still on my exchange.

Anyway you’re out obviously or else you wouldn’t be so gleeful about any drop so why don’t you leave this battle to those of us with skin in the game.

 

[promo]

I got -12% last hour. Glad I shifted to LTC a few days ago.

 

[xynames]

Wait and see. BTC will remain the frontrunner in 2018.

As far as fluctuations, selling at the top, etc.

It's like with most stocks. You sell at a certain price, it drops below that price, and you think...GOOD! I did the right thing. Next thing you know it's way above your price and you realize that the market makers simply grabbed your shares cheap and they're laughing at you on the streets.

I've been stock trading for so long that I eventually learned with stocks to just buy and hold, or at most, position trade over the course of days, or weeks. I no longer panic or worry about intraday fluctuations.

With BTC I have been in for the long haul since 2013, with regular, consistent accumulations ever since, and have no reason to sell yet.

 

[SirDrago]

I got -12% last hour. Glad I shifted to LTC a few days ago.

Get your stop sells in order, pause that bleeding.
GL

 

[promo]

Well got 80% on LTC in 3 days and exited today, have my stuff in EUR wallet right now.. Blind luck..