Bitcoins/Cryptocurrency

WillGates

12,000

bowlhead99

WillGates wrote: »

Oh no!!!

Below $10,500

WillGates wrote: »

12,000

Should we expect a price update from you every couple of days? ISTM that anyone who is reading a thread about bitcoin has internet access and could find out the price if they wanted to know it.

WillGates

Next buy target sub 9500.

msallen

WillGates wrote: »

Next buy target sub 9500.

I could be tempted into buying a single bitcoin, just for the novelty value, at $0.95.

capital0ne

bostonerimus wrote: »

To mine BTC you use software to do accounting on BTC transactions. The ledger of transactions is broadcast and anyone can do some up keep and then rebroadcast it. You earn BTC by doing this.

Bitcoin mining is so energy intensive unless you have a source of very cheap electricity you will never make a profit.

capital0ne

You'd be better of growing black tulips!

Ash_Pole

capital0ne wrote: »

Bitcoin mining is so energy intensive unless you have a source of very cheap electricity you will never make a profit.

I'm wondering what happens when all the the bitcoins are mined. AFAIUI mining the bitcoins is the reward for processing the transactions. If there's no longer an incentive will the whole thing collapse?

masonic

Ash_Pole wrote: »

I'm wondering what happens when all the the bitcoins are mined. AFAIUI mining the bitcoins is the reward for processing the transactions. If there's no longer an incentive will the whole thing collapse?

Miners add transactions to each block they mine. Each block can contain up to 3500 transactions, and the miner pockets the fee for each transaction, which can range from a few pennies up to tens of pounds. In the future, the transaction fees will need to total more than the energy cost of mining each block for miners to make any profit.

N1ckS

New lesson on Coinbase Earn, $14 of DAI:
https://www.coinbase.com/earn/dai?utm_medium=social&utm_source=twitter&utm_campaign=earn_dai_adv_lessons

WillGates

WillGates wrote: »

Next buy target sub 9500.

Nice, sell at 11,000.