# The Rise and Fall in Bitcoin Value **URL:** \ **Category:** Out Of Pod Experience\ **Created:** [January 18, 2022, 1:41pm UTC](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290 "2022-01-18T13:41:44Z")\ **Posts on this page:** 20\ **Page:** 79
**Author:** ![Aaron](https://sea1.discourse-cdn.com/eveonline/user_avatar/forums.eveonline.com/aaron/32/379788_2.png) [@Aaron](https://forums.eveonline.com/u/Aaron)\ **Post date:** [August 23, 2022, 8:25am UTC](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290/1568 "2022-08-23T08:25:22Z")
> **[Bitcoin won’t hedge inflation until it hits 1B wallets: Scaramucci](https://cointelegraph.com/news/bitcoin-won-t-hedge-inflation-until-it-hits-1b-wallets-scaramucci)** > > Skybridge Capital CEO Anthony Scaramucci says Bitcoin will need to be held in a billion plus wallets before it can begin to act as a hedge against inflation, which was its original intention. ---
**Author:** ![Aaron](https://sea1.discourse-cdn.com/eveonline/user_avatar/forums.eveonline.com/aaron/32/379788_2.png) [@Aaron](https://forums.eveonline.com/u/Aaron)\ **Post date:** [August 24, 2022, 1:48pm UTC](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290/1569 "2022-08-24T13:48:27Z")
[![](https://global.discourse-cdn.com/eveonline/original/4X/4/5/2/452650ed537b6a2607e235418aa92302a222f6c3.jpeg "Why Proof of Stake FAILS to create "green" crypto") ](https://www.youtube.com/watch?v=cqJrqgPhLq4) He makes some very good points for discussion, proof of stake seems flawed if this guy is to be believed. Will ethereum still be desirable as a currency if most of the time the actual coins are tied up in staking and unable to be spent? They say the switch will happen in a couple of months, I expect there to be more delays. Honestly I think this is a stupid idea if the goal is simply to become greener. It would be better if they keep it as POW and then donate money to researching greener technology and help the world move forward. ---
**Author:** ![Aaron](https://sea1.discourse-cdn.com/eveonline/user_avatar/forums.eveonline.com/aaron/32/379788_2.png) [@Aaron](https://forums.eveonline.com/u/Aaron)\ **Post date:** [August 25, 2022, 6:41am UTC](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290/1570 "2022-08-25T06:41:03Z")
[![](https://global.discourse-cdn.com/eveonline/original/4X/d/f/2/df2e37e0e3f5293acbd765996f0380c01789d6ff.jpeg "Cost to Build a Mining Rig RX 6700 XT August 2022") ](https://www.youtube.com/watch?v=3FqY4e-RuRM) ---
**Author:** ![Aaron](https://sea1.discourse-cdn.com/eveonline/user_avatar/forums.eveonline.com/aaron/32/379788_2.png) [@Aaron](https://forums.eveonline.com/u/Aaron)\ **Post date:** [August 25, 2022, 8:50am UTC](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290/1571 "2022-08-25T08:50:30Z")
> **[Voyager customer lost $1 million saved over 24 years and is one of many now...](https://www.cnbc.com/2022/08/15/voyager-customers-beg-new-york-judge-for-money-back-after-bankruptcy.html)** > > Voyager Digital had 3.5 million customers, and many are now doing everything they can to try and get some of their money back. Very sad this, honestly I hope this is the end of all of these crypto investment firms the concept will never progress when the economy is bad, other peoples poor decisions will affect investors badly. It’s sad that nobody advised this woman if she was going to invest in crypto then she should hold the coins herself in her own wallet at least this way she would have been able to wait for prices to increase or sell and suffer a loss. I think crypto investment firms are a bad idea, if people are confident enough to buy crypto in the first place then they should be okay to manage it themselves. I’m not sure that people who invested knew what they were doing because BTC it is a decentralised currency so the emphasis should have been on doing most of it yourself without a central bank/organisation being involved. These crafty investment firms misled people into centralising a decentralised currency/asset. We need more people to promote doing this type of thing ourselves, ---
**Author:** ![Aaron](https://sea1.discourse-cdn.com/eveonline/user_avatar/forums.eveonline.com/aaron/32/379788_2.png) [@Aaron](https://forums.eveonline.com/u/Aaron)\ **Post date:** [August 25, 2022, 8:57am UTC](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290/1572 "2022-08-25T08:57:15Z")
[![](https://global.discourse-cdn.com/eveonline/original/4X/e/6/e/e6eea3e368da57e70144d81ac6b5dbcfbe6159a5.jpeg "WHY I SOLD ALL MY ETHEREUM. "It's worthless..." (ex-Google tech lead)") ](https://www.youtube.com/watch?v=6Sxb2dKRi08) ---
**Author:** ![Nana\_Skalski](https://sea1.discourse-cdn.com/eveonline/user_avatar/forums.eveonline.com/nana_skalski/32/489985_2.png) [@Nana\_Skalski](https://forums.eveonline.com/u/Nana_Skalski)\ **Post date:** [August 25, 2022, 12:06pm UTC](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290/1573 "2022-08-25T12:06:25Z")
> [@Aaron](#): > > I think crypto investment firms are a bad idea, if people are confident enough to buy crypto in the first place then they should be okay to manage it themselves. Crypto investment firms are a bad idea. Crypto investment is a bad idea. If people are confdent enough to buy crypto in the first place then they should be okay with it being a bad idea after some time. It is as risky buy as it gets. ---
**Author:** ![Xeux](https://sea1.discourse-cdn.com/eveonline/user_avatar/forums.eveonline.com/xeux/32/428022_2.png) [@Xeux](https://forums.eveonline.com/u/Xeux)\ **Post date:** [August 25, 2022, 4:18pm UTC](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290/1574 "2022-08-25T16:18:58Z")
Fiat currency and fractional reserve banking are terrible, too. But . . . so far so good, right? ---
**Author:** ![Aaron](https://sea1.discourse-cdn.com/eveonline/user_avatar/forums.eveonline.com/aaron/32/379788_2.png) [@Aaron](https://forums.eveonline.com/u/Aaron)\ **Post date:** [August 25, 2022, 5:20pm UTC](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290/1575 "2022-08-25T17:20:14Z")
> [@Nana\_Skalski](#): > > Crypto investment is a bad idea. In your opinion which is fine. Crypto and BTC are still very new and money can be earned if investors are happy to wait a few years for the economy and BTC price to go higher. If I had a sizeable amount of money I would have no problem buying some BTC and storing it (in my own wallet) for some years. Investments have always been hard, I’m sure there are many investors out there earning who work with volume, meaning they only make a a few pence profit per share, they might only earn money because they brought an extremely large volume of shares. They also have to know how to evaluate the companies to invest in, do they have any new products coming out? is there a special service they can offer their customers which no one else can? Blockchains and their coins/tokens can have lots of different applications a few of them could potentially become the inner workings behind payment systems simply because the cost of processing the payment is so low, especially the ones that can handle up to 65,000 transactions per second. If a Blockchain has a realistic use in society (cheap transactions) then this will make the tokens it creates have value. You would only understand the importance of this if you know how much money a supermarket such as Tesco UK has to pay for transactions fees for all it’s stores. The world is changing, supermarkets used to be able to absorb these fees but with everyone trying to save every penny they can it might be time for them to look at newer cheaper technologies. This is how society works, small retailers will rush to have a serious look at this because they simply can’t afford to continue paying card fees. It’s funny the way a new invention has control over us, in this case the logic and organisational level of a currency and it’s backend system has the potential to be much cheaper than our current system, Are we then slaves to logic which makes crypto systems and their coins impossible to ignore? ---
**Author:** ![Nana\_Skalski](https://sea1.discourse-cdn.com/eveonline/user_avatar/forums.eveonline.com/nana_skalski/32/489985_2.png) [@Nana\_Skalski](https://forums.eveonline.com/u/Nana_Skalski)\ **Post date:** [August 26, 2022, 12:50pm UTC](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290/1576 "2022-08-26T12:50:24Z")
> [@Aaron](#): > > money can be earned if investors are happy to wait a few years for the economy and BTC price to go higher What if economy is going down? The logistic chains, the dwindling of resources, nobody have ideas what then, because the technology is not adjusted, and what kind of technology can there be without certain scarce resources and products? You can always have primitive technology of course, but you know where BTC is in all of that, you cant make an SSD out of a rock. Alternative is a very veird fallout-esque world, or any postapo you can find in pop-culture. No energy grid, people would have no means of producing energy and machines in a sophisticated way like now. No coal, only burning of wood and energy derived from motion or solar radiation. Maybe few reactors that would burn hard to get and transport nuclear fuel. Maybe its where civilization is going: down. And maybe thats the reason why we never see intergalactic species anywhere near us, on this planet so ripe for settling. They just run out of stuff and ideas. Because there are no miracles in technology and stuff isnt just going to make itself. ---
**Author:** ![Karak\_Terrel](https://sea1.discourse-cdn.com/eveonline/user_avatar/forums.eveonline.com/karak_terrel/32/373453_2.png) [@Karak\_Terrel](https://forums.eveonline.com/u/Karak_Terrel)\ **Post date:** [August 26, 2022, 2:59pm UTC](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290/1577 "2022-08-26T14:59:33Z")
What if it goes up, but you are still a complete mess because instead of thinking and planing for your future you obsess about apocalyptic scenarios where everyone will lose no matter what they do now? ---
**Author:** ![Aaron](https://sea1.discourse-cdn.com/eveonline/user_avatar/forums.eveonline.com/aaron/32/379788_2.png) [@Aaron](https://forums.eveonline.com/u/Aaron)\ **Post date:** [August 26, 2022, 9:23pm UTC](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290/1578 "2022-08-26T21:23:27Z")
> [@Nana\_Skalski](#): > > What if economy is going down? The logistic chains, the dwindling of resources, I googled this; **Will we ever run out of uranium?** If the Nuclear Energy Agency (NEA) has accurately estimated the planet’s economically accessible uranium resources, **reactors could run more than 200 years at current rates of consumption**. It’s interesting because we get an idea of what 2222 will be like. Obviously there will be serious concern for how energy is generated by this time unless there is a major discovery. The future has to be in some type of solar energy harnessing, I rekon 1000s of space installations will be launched into space and aimed at the sun, the installations will precisely orbit above power plants and somehow relay solar energy. You will find that humans are resilient and we will find a way, The fact you are here today is testament to how resilient we are. ---
**Author:** ![Karak\_Terrel](https://sea1.discourse-cdn.com/eveonline/user_avatar/forums.eveonline.com/karak_terrel/32/373453_2.png) [@Karak\_Terrel](https://forums.eveonline.com/u/Karak_Terrel)\ **Post date:** [August 27, 2022, 4:14am UTC](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290/1579 "2022-08-27T04:14:17Z")
> [@Aaron](#): > > f the Nuclear Energy Agency (NEA) has accurately estimated the planet’s economically accessible uranium resources, **reactors could run more than 200 years at current rates of consumption**. I saw a recent study that estimated this a lot less. They estimated the amount of Uranium usable for fision still left in earths crust at around 8mil tons. Currently we are burning trough this reserves at 60k tons per year. This means we have a bit more than a century left of nuclear power with the current technology, if consumption would stay the same. > [@Aaron](#): > > The future has to be in some type of solar energy harnessing, I rekon 1000s of space installations will be launched into space and aimed at the sun, the installations will precisely orbit above power plants and somehow relay solar energy. Yeah I think it will be a combination of solar, wind, hydro and what everyone is forgetting about, geothermal. People also forget that technology is constantly improving if engineering power is applied to it. Solar is now actually already the cheapest power you can have, without any subsidies. Because it’s not only the cells that get better and cheaper. The electronics they use get cheaper because they got optimized over the years and can now be mass produced. Installation got easier and faster, simply because the people doing that gained experience and found new ways to make it faster and cheaper. And there is probably a lot more. In switzerland they are currently drilling for new geothermal power plants. The organization doing that has plans for like 250 geothermal plants all over the country. The future is 100% renewable, it’s completely inevitable. > [@Aaron](#): > > You will find that humans are resilient and we will find a way, The fact you are here today is testament to how resilient we are. Yeah I share that sentiment. I think we have a positive future to look forward too. ---
**Author:** ![Aaron](https://sea1.discourse-cdn.com/eveonline/user_avatar/forums.eveonline.com/aaron/32/379788_2.png) [@Aaron](https://forums.eveonline.com/u/Aaron)\ **Post date:** [August 27, 2022, 10:48am UTC](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290/1580 "2022-08-27T10:48:50Z")
> [@Karak\_Terrel](#): > > Yeah I share that sentiment. I think we have a positive future to look forward too. Indeed, Our direct ancestors survived war, famine, disease, It is fascinating that I have an ancestor that was there since the beginning of human kind. Yes, the future is bright. ---
**Author:** ![Aaron](https://sea1.discourse-cdn.com/eveonline/user_avatar/forums.eveonline.com/aaron/32/379788_2.png) [@Aaron](https://forums.eveonline.com/u/Aaron)\ **Post date:** [August 30, 2022, 1:34am UTC](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290/1581 "2022-08-30T01:34:53Z")
> **['Lives at risk' without more help on energy bills](https://www.bbc.co.uk/news/business-62674301)** > > The typical household energy bill will hit £3,549, prompting concern for people's health this winter. Considering this is the current state of the economy I’d say the BTC value isn’t doing too badly. There’s record debt, War, after all that people are still holding their BTC and helping to maintain the value. Once the economy settles back down (no idea when that might be) we should see a higher BTC value. Next year in the UK we will be looking at an electric price cap of £0.52 per kwh (currently around £0.29 per kwh) which is for residential use, there is actually no price cap for business use so suppliers will charge business customers more. ---
**Author:** ![Nana\_Skalski](https://sea1.discourse-cdn.com/eveonline/user_avatar/forums.eveonline.com/nana_skalski/32/489985_2.png) [@Nana\_Skalski](https://forums.eveonline.com/u/Nana_Skalski)\ **Post date:** [August 30, 2022, 11:33am UTC](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290/1582 "2022-08-30T11:33:26Z")
Few arrangements for winter 2022/23: ![](https://global.discourse-cdn.com/eveonline/original/4X/a/e/5/ae530c2f7737a5206746c8ebe00a35160c3e9917.jpeg) ![](https://global.discourse-cdn.com/eveonline/original/4X/d/c/6/dc6db5973f0f725e04504d25a2c675159cc905c3.webp) you will be able to literally feel how the value is FROZEN in your BTC. ---
**Author:** ![Aaron](https://sea1.discourse-cdn.com/eveonline/user_avatar/forums.eveonline.com/aaron/32/379788_2.png) [@Aaron](https://forums.eveonline.com/u/Aaron)\ **Post date:** [August 31, 2022, 5:22pm UTC](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290/1583 "2022-08-31T17:22:56Z")
> [@Nana\_Skalski](#): > > you will be able to literally feel how the value is FROZEN in your BTC. This is a joke to you? If people can’t even afford to heat their homes think of all the other things that will be affected, Nobody will be able to afford Taxi’s and uber lifts so many will lose their job, People will cancel leisure centre membership, they wont go cinema, generally anything that is spent on leisure activities will be saved to pay the energy bill. This will cause lots and lots of people to lose jobs and then claim unemployment benefits. If we look at Public Houses where people get an alcoholic drink, they will get hammered by the high electric price and then their customer base will dwindle away due to no one being able to afford to visit there and buy a drink. The value of the Pound will decrease, but the value of BTC may go higher due to there being a limited amount in circulation and the fact that only a handful of companies will be able to afford to continue their BTC mining operation which means there will be less newly minted BTC. ---
**Author:** ![Xeux](https://sea1.discourse-cdn.com/eveonline/user_avatar/forums.eveonline.com/xeux/32/428022_2.png) [@Xeux](https://forums.eveonline.com/u/Xeux)\ **Post date:** [August 31, 2022, 6:25pm UTC](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290/1584 "2022-08-31T18:25:43Z")
> [@Aaron](#): > > limited amount in circulation Saying that bitcoin is “in circulation” is being very optimistic. Nana is right, almost all Bitcoin is frozen on the USB drives of speculators. ---
**Author:** ![Aaron](https://sea1.discourse-cdn.com/eveonline/user_avatar/forums.eveonline.com/aaron/32/379788_2.png) [@Aaron](https://forums.eveonline.com/u/Aaron)\ **Post date:** [August 31, 2022, 10:13pm UTC](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290/1585 "2022-08-31T22:13:06Z")
> [@Xeux](#): > > Saying that bitcoin is “in circulation” is being very optimistic. Nana is right, almost all Bitcoin is frozen on the USB drives of speculators. In circulation just means not available for sale from a crypto exchange, these speculators are most likely waiting for lots of countries and their populations to adopt it and by the looks of things many countries acknowledge BTC. So, In 13 years BTC has come a long way. We also have to consider people do think about generational wealth where BTC is the perfect type of asset that could potentially span multiple family generations. The world does need a secure digital currency that nobody can directly control, and this opinion is simply based on what we all see happening around the world. I say fair play to the early and current speculators, they are free to buy as much BTC as they like and they can sell it as and when they choose. Don’t worry though, anyone who is speculating a large amount of BTC will be watching the market every few minutes, they will be the first to act when they see crypto exchanges running out of BTC, they will sell more to the exchange at a very high price. We must also consider that because 1 BTC has such a high value then such an asset must be included in any kind of will or inheritance. If multiple people are mentioned as beneficiaries to the inheritance then we find that BTC tied up in the will would have to be liquidated. ---
**Author:** ![Nana\_Skalski](https://sea1.discourse-cdn.com/eveonline/user_avatar/forums.eveonline.com/nana_skalski/32/489985_2.png) [@Nana\_Skalski](https://forums.eveonline.com/u/Nana_Skalski)\ **Post date:** [September 1, 2022, 9:41am UTC](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290/1586 "2022-09-01T09:41:51Z")
> [@Aaron](#): > > If people can’t even afford to heat their homes think of all the other things that will be affected Yes, I think they will be wearing a lot of clothes in home, what about that? You have something against warm clothes? > [@Aaron](#): > > Nobody will be able to afford Taxi’s and uber lifts so many will lose their job Who cares about taxis, you can use public transport. Or bicycle, even in winter, especially when you live in GB. Uber or taxi is for rich people now. Nobody needs cinemas, nobody needs leisure centres, nobody needs alcoholic drinks. All those people will go work where they are really needed, on farms, or loading, unloading stuff, manual labor. Because nobody will give them any benefits. It will be like in 1898, but you will be keeping your BTC and you will be probably able to use it to buy some good, english, natural cheese. ---
**Author:** ![Aaron](https://sea1.discourse-cdn.com/eveonline/user_avatar/forums.eveonline.com/aaron/32/379788_2.png) [@Aaron](https://forums.eveonline.com/u/Aaron)\ **Post date:** [September 1, 2022, 11:06am UTC](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290/1587 "2022-09-01T11:06:15Z")
> [@Nana\_Skalski](#): > > Who cares about taxis, you can use public transport. Or bicycle, even in winter, especially when you live in GB. Never mind the 400,000 taxi drivers who won’t be able to earn a living, How will taxi drivers and uber’s pay their bills and support their families? > [@Nana\_Skalski](#): > > Nobody needs cinemas How will the people working in the cinema support themselves if they get sacked due to no customers? > [@Nana\_Skalski](#): > > nobody needs leisure centres How will the leisure center workers pay their bills without a job? > [@Nana\_Skalski](#): > > All those people will go work where they are really needed, on farms, or loading, unloading stuff, manual labor. Too late, the 400,000 cab drivers who lost their job already beat the other people to the manual labour jobs. I think you are incapable of seeing the bigger picture. If the people making decisions are anything like you then we are all doomed. [Previous page](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290.md?page=78) [Next page](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290.md?page=80)