BITCOIN

RolandFlagg

https://www.forbes.com/sites/frankcorva/2024/03/12/unbanked-bitcoin-users-in-peru-are-changing-their-communities/

The Fiat Ponzi is dying and these people have found a life raft.

User232002

Veteransaver said:

Those curtailment numbers may look big and impressive to you, but they are insignificant.

2bn kWh is equivalent of less than 3 days total UK grid demand.

Those goalposts are looking mighty flexible sir.

A reminder of the original assertion:

Veteransaver said:

You're just making stuff up now and using small scale examples to attempt to green wash it.
Name an energy grid that "almost always" has an excess of renewable energy.

Now it seems I'm not making stuff up, I have pointed to two grids, but apparently they don't meet your unannounced criteria.

And another reminder;

User232002 said:

I got this from 10 minutes searching. I could spend longer to find better and more damning sources I'm sure. But the point is that anyone that works in this industry knows that excess renewables are an issue. Its been an issue for nearly a decade, and it will be an issue for at least another decade. 

Veteransaver

User232002 said:

Veteransaver said:

Those curtailment numbers may look big and impressive to you, but they are insignificant.

2bn kWh is equivalent of less than 3 days total UK grid demand.

Those goalposts are looking mighty flexible sir.

A reminder of the original assertion:

Veteransaver said:

You're just making stuff up now and using small scale examples to attempt to green wash it.
Name an energy grid that "almost always" has an excess of renewable energy.

Now it seems I'm not making stuff up, I have pointed to two grids, but apparently they don't meet your unannounced criteria.

And another reminder;

User232002 said:

I got this from 10 minutes searching. I could spend longer to find better and more damning sources I'm sure. But the point is that anyone that works in this industry knows that excess renewables are an issue. Its been an issue for nearly a decade, and it will be an issue for at least another decade. 

"Almost always" = about 1% of the time in your world?

Qyburn

Veteransaver said:

User232002 said:

Veteransaver said:

Those curtailment numbers may look big and impressive to you, but they are insignificant.

2bn kWh is equivalent of less than 3 days total UK grid demand.

Those goalposts are looking mighty flexible sir.

A reminder of the original assertion:

Veteransaver said:

You're just making stuff up now and using small scale examples to attempt to green wash it.
Name an energy grid that "almost always" has an excess of renewable energy.

Now it seems I'm not making stuff up, I have pointed to two grids, but apparently they don't meet your unannounced criteria.

And another reminder;

User232002 said:

I got this from 10 minutes searching. I could spend longer to find better and more damning sources I'm sure. But the point is that anyone that works in this industry knows that excess renewables are an issue. Its been an issue for nearly a decade, and it will be an issue for at least another decade. 

"Almost always" = about 1% of the time in your world?

It's probably much less than 1% if you're speaking about the UK as a whole having a surplus, although it does happen occasionally and the wholesale price goes negative. 

But most of the constraints are due to transmission capacity, so to use that surplus you'd have to move your Bitcoin mining somewhere near to the source. Might have to connect to the transmission rather than distribution network.

RolandFlagg

When any CEO from a failing fiat ponzi company tells you Bitcoin is worthless it's because they fear it.

It is them that are going to Zero.

RolandFlagg

If your financial advisor that tells you Bitcoin is a ponzi or "too volatile" sack them.
By selling you outdated advice that will give you returns less than real inflation all you are doing
is giving them a nicer lifestyle with their excessive fees for poor advice.

Times have changed. They and you need to change with it.
Better returns and a better sharpe ratio.

RolandFlagg

Your money is being debased at an alarming rate, and this is in first world countries.

Cus

RolandFlagg said:

When any CEO from a failing fiat ponzi company tells you Bitcoin is worthless it's because they fear it.

It is them that are going to Zero.

I thought I would look up what he said as I recall when he became CEO people were sceptical of his ability (guess they were right).
He said "From what we can identity, the only reason today to buy or sell Bitcoin is to make money, which is the very definition of speculation and the very definition of a bubble,” Thiam said.

zagfles

RolandFlagg said:

Your money is being debased at an alarming rate, and this is in first world countries.

 
Everyone knows currencies debase. Currencies are supposed to debase, they don't work properly if there isn't a bit of inflation, ie a gradual loss of value in the currency. The BoE are set an inflation target, ie a target to debase the currency. At the moment they've above it but going below it is just as bad or worse. Japan have been battling deflation for 30+ years, deflation (ie where a currency increases in value) causes stagnation, people don't spend because they wait for prices to fall. And the Japan deflation was never more than about 1-2% or so, yet it caused decades of stagnation. 
Bitcoin is currently a complete failure as a currency. If things were priced in it, deflation would be off the scale. Imagine getting a mortgage 5 years ago for 66 bitcoin for a house, about £200k at the time. You still owe 66 bitcoin or maybe a bit less if it's a repayment mortgage, say 60. About £3 million. 
It's great for speculators who want a gamble, it's totally useless as a currency. Maybe it will be one day when all the speculators, rampers and get rich quick willy wavers have moved on to something else. 

Aegis

Sumselkb said:

I wont have a problem buying it. I'll buy it when its cheap and sell it when its high.

The problem is that it seems technologically complicated. I'm not very good with apps and computers and programs and it seems there's a lot things to learn/do eg software, signing up, verifying, transferring, save passwords, keep secure, exchange rates, fees, Capital Gains Tax. etc. I don't know where to start.

How will you know when it's cheap? Or expensive, for that matter? What is your metric? Is it based on the cost a year ago? 2? 10? If so, why? Is it instead based on a calculation of value based on your ownership of an economic activity? If so, what  activity, and how do you measure it?

You've mentioned you are new to this, but these are fundamental questions you should feel comfortable asking yourself about any proposed investment, and going from 0 to bitcoin is a strategy for tears in the long run if you don't understand the difference between a positive and a negative sum game when considering investments (basically, bitcoin is negative sum, in that the tokens themselves are not economically active, but a proportion of the total ownership of bitcoin is lost each year - this is the same type of structure as playing the lottery or going to a casino.  You might be ahead at certain particular points, but eventually the house edge means that you will lose money unless you change the nature of the game like card counters).

As long as you understand the risks you can dive on in to your heart's content, but I again ask "why is £20,000 cheap and not expensive?"  I sincerely hope that you have an answer better than just "line goes up" or similar.