The Rise and Fall in Bitcoin Value

I am afraid they will not remember anything if they will be awake.

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At the time it was a different government, perhaps they never had the skills to understand it so they opted to get it stopped. Most of the BTC in Satoshi’s wallet will probably be given to charity, It’s hard to say the motivation was money since none of it has been spent.

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I do not know anything about the person or group called Satoshi. Didn’t read all his posts to try and figure somthing out and as he/they had good opsec he/they’d probably made sure there is nothing of reference in the texts.

He/they did mine but spend no money in it. Would be strange if he/they would sell any of it.

How can it be given to charity if the owner does not move it? What makes you think it? Imagine if Satoshi is actually Bill Gates and the BTC will be donated to his charity. :smiley:

The first time Satoshi posted about Bitcoin was feb 2009, he/they couldn’t possibly know how successful it was going to be at that point. It had only just gone live one month earlier in jan 2009. I suppose they knew it would be used as a store of value for any user in the world and the 21 million limit would affect value.

But it remains to be seen what will be done with the money in Satoshi’s wallet, it might be best to hold back on judging until the money moves, I’d imagine it will be a well publicised event when something does happen. it’s currently worth around £20 Billion, I’m thinking a charity will appear out of nowhere and they will receive Satoshi’s money and computerise the world with it.

I don’t believe the creators are greedy people, they are obviously a group of some of the most intelligent people in the world so they would most likely have had money before they created Bitcoin. This seems a bit like philanthropic works to me. Take an honest look at money and finance around the whole world, is what you see really acceptable? Are changes needed? We seem to end up back at perspective.

Do you really think honest people need to have opsec? He(they) could have created it then distanced himself(themselves) from it letting others “run” it. No, he(they) have a large stake in there.

It’s also not going up the way I expected it. Luckily I didn’t invest into it. :smiley:
Then again it’s not something to invest in. However Blackrock is now offering BTC (or crypto) to it’s customers.
https://www.bloomberg.com/news/articles/2022-08-11/blackrock-offers-bitcoin-investing-to-big-institutional-clients
Because Michael Sawyer, the BTC expert only lost 1 billion USD. O.o I wonder what is behind that, who’s money is laundered? Also if they LOST money, who sold it?
https://www.bloomberg.com/news/articles/2022-06-13/microstrategy-s-bitcoin-bet-backfires-as-losses-near-1-billion

So this guy is literally saying "Layzor EYEz HODL! BUY BTC! " while at the same time selling it. Not sure about honest but if he would do that to any share he would be in jail. Same with Musk and probably most of the ‘nouveau rich’ who think BTC is a privilege. They stand above accountability for their actions.

I don’t know about Satoshi, but if it was charity, he/they would already gave something to those in need. I guess we have to wait… :smiley: I bet panic ensues once he sells so Satoshi can’t sell at all. Then again, the BTC he mined probably costed him nothing as he could have installed the machine on the university grounds and profited from “free” public ‘charity’. So maybe in that way, he’s a charity case. :wink:

As I was looking around, I was wondering how Epstein wasn’t glorifying BTC, but he did, lol.

Bitcoin works as a store of value. “When we talk about gold as a store of value,” says Epstein, “that just means a lot of people agree to pay the same price for one ounce of gold. In 2017, enough people agree on the value of bitcoin that it can serve the same purpose. There will only ever be 21 million bitcoins, but this limit comes from computer code, not by how many bitcoins are left to remove from the earth. If we learn tomorrow that half of Montana contained a secret cache of gold, the value of gold would decrease instantly. Bitcoin doesn’t have this problem.”

No, it gets darker as some crypto enthusiasts felt the need to put a certain message in the blockchain… O.o Wow.

Scams happen all of the time, 2000 people lost a total of £46m on scam property investments. I guess everyone is too busy trying to prove crypto is a scam, while the real scammers are busy fleecing other people in other industries.

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It’s an epic one. I think most people have done their tour of BTC (and other crypto). It’s incredible that so many high profile people were involved yet somehow it didn’t really become anywhere mainstream. No other scam in the world has had such a publication.

Well you seem convinced BTC is a scam, good luck with your opinion.

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I have not lost any money with it yet. :smiley:

Show me any industry which doesn’t lose money and I will show you a flying horse. In order to know if something is a scam one must understand it first. you don’t seem to want to understand so i guess you’ll be stuck believing falsehoods about BTC.

You’ve lost something, You think a country like the UK will be okay if more than half the population can’t afford energy. Your opinions are far too zany for me.

Bitcoin went from 0 to half a trillion market capitalization in 13 years. It’s increasingly used to send money around the world and the technology continues evolving.

I’m pretty sure the majority of the adoption in the future will happen behind the curtain and not in “mainstream”.

All this payment apps, like Paypal, Venmo, Revolut, Cashapp, etc. Do you think they are happy having to go over the extremely cumbersome legacy financial system to send payments to each others network? I expect them to all hop onto LN very soon.

Soon people will use Bitcoin when transacting abroad and don’t even realize it.

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Stop claiming things I did not say.
BTC will not solve the energy scarcity. To the contrary.
As I said the only mining will be profitable is in the low energy price areas.

Probably not, but I guess not everyone like a driving license but I guess we’ll see where it leads to if we remove restrictions. Freedom isn’t liberty from consequence.

You seem to think there will be no problems at all if people in the UK are living without energy.

Nobody claimed as such. I was talking about instances where the government haven’t managed the economy well.

The inability of governments to manipulate the money and ledger does not mean that companies using it can’t be regulated.

Since Bitcoin is the first truely immutable public ledger, it’s much harder to hide fraud and illegal stuff. Banks and other companies will not be able to “forge the books”, and even though it’s pseudonymous it can eventually be traced back.

The liberty aspect comes from the fact that it can be accessed and used by everyone, can’t be censored and you can have self custody of your funds without requiring a bank.

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I said literally there would be more people living without electricity. You changed that into me saying that is not a problem. How about I claim you didn’t reply on Epstein because you think what he did was not a problem? See, everyone can do that. Doesn’t solve anything. Stop vilifying me, you have zero arguments.

Sorry, it was Karak that claimed such. And by now the situation has changed as a lot of miners went bankrupt;

Also…
“At this price, margins are very thin, especially heading into summer with power prices set to rise in Texas and PJM [Pennsylvania, New Jersey and Maryland].”
More demand, not more supply, price goes up. Simple as. :wink:

You claimed it wasn’t unrealistic to expect people in the uk to live without electric. I’m not sure you realise how dire the situation is in UK, I’ll say again, we have nurses and police officers and teachers unable to afford energy, if nothing is done for them then this is the beginning of the collapse of the UK.

They will have to extend a line of credit to key workers ASAP, knowing the UK government they will leave it until a key workers job is badly disrupted due to poverty.

Governments don’t always make the right decisions, this is why a level of decentralization is required.

Yeah, if the price drops, the least efficient miners go first. That would probably be the ones who don’t use waste energy.

Not even two years and we will have the next halving that reduces rewards by 50%. That will cause even more pressure on them.

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Hmmm, It’s starting to look like BTC will have to be mined remotely. An intermediary such as Nicehash could put buyers in touch with hash power sellers like myself and they would set a minimum cost so that electric is covered.

I’m unsure how this would be done, as I understand it the BTC Blockchain size is currently 15GB, so am I correct that any GPU used would need to have 16GB VRAM minimum?

Also, the companies like Bitmain, are ASIC’s their main income? and will they fold if ASIC sales stop?

Do you have any theory on how BTC will continue without the large scale mining operations?

Could this mine BTC?

Lets say there were 30 million of these mining world wide in peoples homes, could they support BTC? It’s memory size is 24GB.

Because the BTC miner would be remote and would buy hashing power I think this would mean a more sophisticated level of management because they wouldn’t be committing to purchasing any hardware, they would be able to scale their mining operation up or down easily depending on BTC value.

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