BITCOIN

Scottex99

61K.........

Scottex99

MeteredOut said:

Scottex99 said:

Yeah funny, it’s a Bitcoin thread so maybe…. I can talk about the Bitcoin price? Hit 60k now 

I just find it amusing that in a world where the proponents of crypto tout it as a technology that is going to change the world, its the prices changes that drive so much of discussion.  

EDIT: Not scientific, but ChatGPT says this (based on a model that is a few years old).

You
If you were to review an online forum about bitcoin, what percentage of the chat would be about the price rather than anything else?

ChatGPT

It's difficult to provide an exact percentage without specific data, as the composition of discussions can vary widely depending on the forum, its members, and current events. However, in many online forums about Bitcoin, discussions about price tend to dominate, especially during periods of significant price fluctuations or when there is increased media attention on Bitcoin's price movements.

That said, there are usually still substantial discussions about the underlying technology, such as blockchain technology, mining, scalability, security, and various developments within the Bitcoin ecosystem. The proportion of price-related discussions versus technology-related discussions may vary from forum to forum and can also depend on factors like the overall sentiment of the market at any given time.

A rough estimate might be that discussions about price make up a significant portion, perhaps around 60-70%, while discussions about the underlying technology and other aspects of Bitcoin make up the remaining 30-40%. However, this is just a general estimate and could vary widely depending on the specific forum and circumstances.

It's a good answer actually. As you might expect from a super smart computer.

Is it a currency, a commodity, a store of value, a new technology about to conquer the financial world?

Could be all, could be none I guess.

Digital gold for me right now and the narrative why it's going up in value is one that makes sense, right now. Hence I'm posting about the price and have been since $20k or whatever it was 300 pages ago.

Some Blockchain being a global settlement layer is a long way off imo but the tech is new and some very smart people are building new things every day. 

MeteredOut

Scottex99 said:

61K.........

Scottex99 said:

MeteredOut said:

Scottex99 said:

Yeah funny, it’s a Bitcoin thread so maybe…. I can talk about the Bitcoin price? Hit 60k now 

I just find it amusing that in a world where the proponents of crypto tout it as a technology that is going to change the world, its the prices changes that drive so much of discussion.  

EDIT: Not scientific, but ChatGPT says this (based on a model that is a few years old).

You
If you were to review an online forum about bitcoin, what percentage of the chat would be about the price rather than anything else?

ChatGPT

It's difficult to provide an exact percentage without specific data, as the composition of discussions can vary widely depending on the forum, its members, and current events. However, in many online forums about Bitcoin, discussions about price tend to dominate, especially during periods of significant price fluctuations or when there is increased media attention on Bitcoin's price movements.

That said, there are usually still substantial discussions about the underlying technology, such as blockchain technology, mining, scalability, security, and various developments within the Bitcoin ecosystem. The proportion of price-related discussions versus technology-related discussions may vary from forum to forum and can also depend on factors like the overall sentiment of the market at any given time.

A rough estimate might be that discussions about price make up a significant portion, perhaps around 60-70%, while discussions about the underlying technology and other aspects of Bitcoin make up the remaining 30-40%. However, this is just a general estimate and could vary widely depending on the specific forum and circumstances.

It's a good answer actually. As you might expect from a super smart computer.

Is it a currency, a commodity, a store of value, a new technology about to conquer the financial world?

Could be all, could be none I guess.

Digital gold for me right now and the narrative why it's going up in value is one that makes sense, right now. Hence I'm posting about the price and have been since $20k or whatever it was 300 pages ago.

Some Blockchain being a global settlement layer is a long way off imo but the tech is new and some very smart people are building new things every day. 

These questions are what I find interesting about crypto. But, I guess it takes effort to really understand it, and its a lot simpler/easier to talk about the price, and for those that want to gamble invest, it's probably a better opportunity that the horses.

silvercue

Just a few % from all time high!

Ahead of schedule too.  

Halving still not until April.  Could see $100k this year

joep2

It’s still not backed by anything, unlike Meta which has millions of user profiles. 

fwor

silvercue said:

Could see $100k this year

Now where have I seen that before? Oh yes - this thread (thanks Darren).

MeteredOut

silvercue said:

Just a few % from all time high!

Ahead of schedule too.  

Halving still not until April.  Could see $100k this year

On what basis are you making that prediction?

fwor

MeteredOut said:

silvercue said:

Just a few % from all time high!

Ahead of schedule too.  

Halving still not until April.  Could see $100k this year

On what basis are you making that prediction?

On the basis that they really really want it to be $100k...

Frequentlyhere

MeteredOut said:

silvercue said:

Just a few % from all time high!

Ahead of schedule too.  

Halving still not until April.  Could see $100k this year

On what basis are you making that prediction?

Feverish raw naked speculation by any chance?

silvercue

MeteredOut said:

silvercue said:

Just a few % from all time high!

Ahead of schedule too.  

Halving still not until April.  Could see $100k this year

On what basis are you making that prediction?

Supply v Demand.  Halving in early April.  That reduces new BTC by half, reducing supply whilst demand is rocketing.

Halving has been followed by huge increase in price to new ATHs every cycle.   The difference this time is there may be an ATH prior to halving due to the increased demand ETFs have generated.   BlackRock Bitcoin ETF hits $1.3 Billion for second consecutive day this week. 

BTC is up 46% this month.  161% in last 12 months.  With expected interest rate reductions this year, it is very possible we will see $100k this year.