Bitcoin forks: Money for nothing, sex for free

[sprstpd]

We discussed that before, and concluded that the current banking/financial system still uses much more Energy and other resources than Crypto (just calculate the amount of AC's in bank buildings around the world...).

Nevertheless: the race in the Miners world is to build the most energy-economic Chips (even at 7 nm). And studies are done to change the POW into POS algorithms (Ethereum is the first to try stepping over, if they prove it gives the same Security as POW than Bitcoin might follow).

You are comparing the infrastructure of fiat currencies with just the mining energy costs of bitcoin. There are infrastructure costs for bitcoin. I.e., a place like Coinbase certainly eats its fair share of energy. The currency itself shouldn't be consuming energy in order to operate.

 

[Hoi]

You are comparing the infrastructure of fiat currencies with just the mining energy costs of bitcoin. There are infrastructure costs for bitcoin. I.e., a place like Coinbase certainly eats its fair share of energy. The currency itself shouldn't be consuming energy in order to operate.

What to think of the special-paper, ink, presses, safeguards, transport cars, ATM's, energy, fuel etc..etc.. for fiat currencies? Nothing is for free.

 

[Cuddles]

Had to sell all my coins back to Bitcoin. This Exodus in preparation for the split started much earlier than I expected.

 

[JackRab]

You underestimate the power of Decentralized Systems.
Besides that: the USA isn't that important anymore, especially not in this case.

Asia (China and Japan for now) will lead where Bitcoin is going. They already have 75% of the market:

View attachment 179156

You do realize that the Chinese are the biggest gamblers in the world..? For some reason it's in their genetics... they like to gamble, and gamble big. And it's usually going long, since the average investor still doesn't know what shorting means, let alone a Chinese farmer.

That's why some Chinese stocks have stupid valuations. Look at PetroChina... doubled in 3 months time just when it listed in Shanghai... did that make sense? No... a bit increase would make sense, but double? Hell no... it just double because it was going up, and all Chinese with a brokerage account liked it going up and thought... it will go up more... lets take the bet! Tadaaa... bubble in PetroChina, which peaked 3 months in and declined ever since....

That said... getting CME to start futures trading in bitcoin is going to be a big push up. I wonder how it's going to be priced... hard to trade the underlying vs futures. Futures trading might start leading the spot....

 

[Cuddles]

You do realize that the Chinese are the biggest gamblers in the world..? For some reason it's in their genetics... they like to gamble, and gamble big. And it's usually going long, since the average investor still doesn't know what shorting means, let alone a Chinese farmer.

That's why some Chinese stocks have stupid valuations. Look at PetroChina... doubled in 3 months time just when it listed in Shanghai... did that make sense? No... a bit increase would make sense, but double? Hell no... it just double because it was going up, and all Chinese with a brokerage account liked it going up and thought... it will go up more... lets take the bet! Tadaaa... bubble in PetroChina, which peaked 3 months in and declined ever since....

That said... getting CME to start futures trading in bitcoin is going to be a big push up. I wonder how it's going to be priced... hard to trade the underlying vs futures. Futures trading might start leading the spot....

Futures trading has been happening for a while unregulated. Bringing in pros is going to make it harder to turn a buck though

 

[JackRab]

Futures trading has been happening for a while unregulated. Bringing in pros is going to make it harder to turn a buck though

you mean the futures on bitmex? that's a joke... liquidity zero and non-regulated means the rules a bit funny. There were several rules for determining the end value which I think are very sketchy...

 

[Hoi]

You do realize that the Chinese are the biggest gamblers in the world..? For some reason it's in their genetics... ...

Yeh, sure. But do you realize that the Japanese are the biggest Savers in the world, and having negative interest rates for some time already? Those savings will find a way to crypto-markets as Bitcoin is becoming very popular in Japan right now. It's huge!

 

[JackRab]

Yeh, sure. But do you realize that the Japanese are the biggest Savers in the world, and having negative interest rates for some time already? Those savings will find a way to crypto-markets as Bitcoin is becoming very popular in Japan right now. It's huge!

The Japanese are very good at business and trading in the sense of production/goods etc. So it makes perfect sense for them to open exchanges. Doesn't mean that it's very big with the Japanese people...

Contrary to the Chinese, the Japanese aren't gamblers... that's why they have such a big saving mindset...

But hey, whatever suits you. I'm happy for you that BTC has crossed 7k, gefeliciteerd!

 

[Hoi]

The Japanese are very good at business and trading in the sense of production/goods etc. So it makes perfect sense for them to open exchanges. Doesn't mean that it's very big with the Japanese people...

Contrary to the Chinese, the Japanese aren't gamblers... that's why they have such a big saving mindset...

But hey, whatever suits you. I'm happy for you that BTC has crossed 7k, gefeliciteerd!

Of what I've read about what is happening right now in Japan: it's a hype among people and businesses. Much bigger than China or any country in the world.

En bedankt voor de felicitaties

 

[Pekelo]

On Friday 3 November at 4.53am New York time, Segwit 2x futures are at $1425.84 or 0.1923 BTC

This is not even free sex, it is like they are paying you to have sex! 20% dividend!!!