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Bitcoin

One of the most interesting things I've read recently about BitCoin is the absurd amounts of power it consumes. Research by Alex DeVries, founder of the Digiconomist, one bitcoin transaction uses as much power as the the average American household in a day!
 
gez said:
Even those people who are manipulated in to doing so?
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Manipulated, by who?

Do your research, make your choices, no different to investing in the stock market. If you’re risk averse it’s not for you, it’s pretty simple really
 
Gingerbeard said:
Do your research, make your choices, no different to investing in the stock market. If you’re risk averse it’s not for you, it’s pretty simple really
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With stocks, you can carry out some due diligence with analysis of underlying fundamentals if you're so inclined. At least you can make an informed decision whether to invest or not. The value of crypto is almost entirely speculative with zero underlying assets.

I suspect those taking a financial bath with poor investment gambling choices were blinded by greed and not a lot of knowledge. It's generally how fools and their money are parted.
 
James said:
I suspect those taking a financial bath with poor investment gambling choices were blinded by greed and not a lot of knowledge. It's generally how fools and their money are parted.
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Back then was a spike in social media "influencers" pushing crypto as a sure bet ie talking up the market. Just like the current situation.
 
matthewr said:
My golden rule for Crypto is the top of the market is when someone starts a thread on PFM.
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You are more like the pros than you might think. Yesterday, on the Swedish Radio, the head of one of the very large pension funds was interviewed. She stated that one thing they where looking out for was when 'ordinary people' was starting ty buy heavily into a certain company. Then it was time to leave.
 
Look at the Gamestop share price. Soared to $80 from 1$ in 2021on social media hype and slowly declined to $14 now.
It is still lossmaking so no dividends
 
Gingerbeard said:
Or we can just carry on with the money printing factory, devaluing the dollar, pound etc. until the whole shit show falls apart, now that really seems like a great idea :rolleyes:
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This will probably make me sound like a gullible sheeple but that's exactly what goldbugs have been saying for decades - that hyperinflation is just around the corner - so you better stock up on bullion, baked beans and bullets. Hasn't happened yet.
 
Most commodities rise in value and then down, only to rise again and then, once again, go down. If you haven't clocked onto that by the age of 21, you shouldn't even be allowed to walk the streets by yourself.

For every winner there is a loser, that is the only fact you need to remember.
 
Mick P said:
Most commodities rise in value and then down, only to rise again and then, once again, go down. If you haven't clocked onto that by the age of 21, you shouldn't even be allowed to walk the streets by yourself.

For every winner there is a loser, that is the only fact you need to remember.
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Splitting hairs maybe but I'm not sure Bitcoin is a commodity - either in the sense of trading raw materials or in the common usage i.e 'a useful commodity'.
 
Bit of a crypto noob here, but I’m wondering if anyone has run a few bitcoins through a DAC to see how much real money comes out the other side. I don’t know which DAC would be best suited to convert bits into coins — and I suppose that’s a question best posed in the audio room — but I’m wondering if my Cambridge CashMagic Plus is up to the task.

Joe
 
Joe P said:
Bit of a crypto noob here, but I’m wondering if anyone has run a few bitcoins through a DAC to see how much real money comes out the other side. I don’t know which DAC would be best suited to convert bits into coins — and I suppose that’s a question best posed in the audio room — but I’m wondering if my Cambridge CashMagic Plus is up to the task.

Joe
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It's a good question Joe and now you have me wondering what depth bitstream I'd need to create an attractive garden feature.
 
RJohan said:
You are more like the pros than you might think. Yesterday, on the Swedish Radio, the head of one of the very large pension funds was interviewed. She stated that one thing they where looking out for was when 'ordinary people' was starting ty buy heavily into a certain company. Then it was time to leave.
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My joke was no accident! And the corollary is that the time to buy is about a month after you read about the latest crash in your morning newspaper. "Buy the dip" is normally a foolish idea but if the market is just a pump and dump then it's probably not a bad idea (although in the case of BTC still probably sub-optimal).
 
Mick P said:
Most commodities rise in value and then down, only to rise again and then, once again, go down. If you haven't clocked onto that by the age of 21, you shouldn't even be allowed to walk the streets by yourself.

For every winner there is a loser, that is the only fact you need to remember.
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In my app store you can now buy my latest PFM app which will render Mick's posts in a cursive font shown either as a framed print for hanging on your wall or, for an additional fee, on scatter cushions.
 
RJohan said:
You are more like the pros than you might think. Yesterday, on the Swedish Radio, the head of one of the very large pension funds was interviewed. She stated that one thing they where looking out for was when 'ordinary people' was starting ty buy heavily into a certain company. Then it was time to leave.
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Hence my comment about NVIDIA. It's a worry when practically everyone is talking about a company and you see the stock double in a matter of months. As they say, "bulls make money, bears make money, pigs get slaughtered".
 
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