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Bitcoin: It's over 9000!!! (Edit: Now it's over 20,000!)

Okjoek
Go to solution Solved by Dissitesuxba11s,
57 minutes ago, Sgt. ShadoWolf said:

No doubt it will be 11000 by the end of the week

It already hit $11000 earlier. It dipped down to $9800 when the Asian markets closed and it is now correcting back.

33 minutes ago, Agost said:

I seriously hope BTC and all the other cryptocurrencies will explode and disappear as soon as possible.

And take a significant chunk of the world’s economy with it? Are you crazy?

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5 minutes ago, Agost said:

 harm the gaming industry (not only that)

can i have some sauce with that?

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13 minutes ago, Agost said:

IDGAF about that money. Cryptocurrencies make no sense, harm the gaming industry (not only that) and consume too much power; moreover, they have close to zero regulation.

I guess you are referring to the rising prices of graphics cards? And falling prices on used graphics cards, that enables budget games to afford significantly higher end second hand graphics cards than they used to?

 

Seeing that they have no had a significant influence on the price of electricity, i am guessing the power usage is an issue because you care about the environment. Fair enough - I'll give you that one. I choose to focus on the job creation and investments that follow higher demand for electricity. But this is a question of personal beliefs, either is valid i guess.

 

And lastly, "IDGAF about that money." I'll just leave that one here for all to enjoy :)

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39 minutes ago, iRandomize said:

I guess you are referring to the rising prices of graphics cards? And falling prices on used graphics cards, that enables budget games to afford significantly higher end second hand graphics cards than they used to?

 

Seeing that they have no had a significant influence on the price of electricity, i am guessing the power usage is an issue because you care about the environment. Fair enough - I'll give you that one. I choose to focus on the job creation and investments that follow higher demand for electricity. But this is a question of personal beliefs, either is valid i guess.

 

And lastly, "IDGAF about that money." I'll just leave that one here for all to enjoy :)

I can see NO falling price for anything in my country. Most used 580s 4GB are sold for €250 or higher - the same (still high) price for new cards. Horrible prices for every AMD card on the new market, except for reference V64, which actually pretty much sucks since a V56 performs the same at same clocks. Fun fact; most V56 here cost as much as V64 or even silver V64 cards. Bad pricing for nvidia cards too.

Yes, I care about the environment - as everybody should do - and about energy (that's why I'm studying energy engineering).
 

45 minutes ago, apm said:

can i have some sauce with that?

Bad prices, poor availability. 

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15 minutes ago, Agost said:

I can see NO falling price for anything in my country. Most used 580s 4GB are sold for €250 or higher - the same (still high) price for new cards. Horrible prices for every AMD card on the new market, except for reference V64, which actually pretty much sucks since a V56 performs the same at same clocks. Fun fact; most V56 here cost as much as V64 or even silver V64 cards. Bad pricing for nvidia cards too.

Yes, I care about the environment - as everybody should do - and about energy (that's why I'm studying energy engineering).
 

Bad prices, poor availability. 

I do kick myself a little for getting the RX 460 rather than the 480 when they were all coming out. On the bright side I'm really happy that the sub 150 USD cards weren't really affected. Nobody really needs more than a 100 USD GPU. I'm running my brother's GTX 1070 right now and my RX 460 was moved to our HTPC. I can tell you this GTX 1070 isn't necessary at all to have a good gaming experience.

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1 hour ago, Agost said:

harm the gaming industry (not only that)

Blame alt coins that are more efficient on GPUs (Like etherium, as I do not think there are ASICs designed for it, but I could be wrong). Bitcoin, to my understanding, has for a long time been more efficient/profitable on ASICs (Like antminer).

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28 minutes ago, Agost said:

Bad prices, poor availability. 

what does that have to do with gaming tho?

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1 hour ago, Agost said:

IDGAF about that money. Cryptocurrencies make no sense, harm the gaming industry (not only that) and consume too much power; moreover, they have close to zero regulation.

Crypto is here to stay. The regulation point is a Banking propaganda point they push because they don't like competition.

 

But this doesn't mean any of the current ones are the one that will stick. Crypto solves a nasty cost problem with online interactions, much in the way that Paper money solved a problem with hard metal supplies.

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27 minutes ago, Agost said:

I can see NO falling price for anything in my country. Most used 580s 4GB are sold for €250 or higher - the same (still high) price for new cards. Horrible prices for every AMD card on the new market, except for reference V64, which actually pretty much sucks since a V56 performs the same at same clocks. Fun fact; most V56 here cost as much as V64 or even silver V64 cards. Bad pricing for nvidia cards too.

Yes, I care about the environment - as everybody should do - and about energy (that's why I'm studying energy engineering).
 

Bad prices, poor availability. 

 

I obviously can’t comment on the situation in your country. But where I’m from, electricity prices are reasonably low, and mining is happening at a somewhat decent scale. This means that with every new generation of graphic cards, the old cards are replaced in a huge scale. So the used market is flooded with previous generation video cards, to the point that I just gave away my 670 and 780 when getting my 980 at launch, and I think the situation is pretty much unchanged. From now on I will be buying previous generation cards at every new launch, cause buying cards at 0 resale value sucks... my friends kinda liked it though.

 

Build a crapload of nuclear power plants, and the environmental issues should be solved... I guess you have knowledge that makes this statement look stupid (you are after all studying the subject) so I will just leave this as a joke. I just hope the solution to sustainable environmentally friendly energy is not to simply stop using energy...

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48 minutes ago, iRandomize said:

 

I obviously can’t comment on the situation in your country. But where I’m from, electricity prices are reasonably low, and mining is happening at a somewhat decent scale. This means that with every new generation of graphic cards, the old cards are replaced in a huge scale. So the used market is flooded with previous generation video cards, to the point that I just gave away my 670 and 780 when getting my 980 at launch, and I think the situation is pretty much unchanged. From now on I will be buying previous generation cards at every new launch, cause buying cards at 0 resale value sucks... my friends kinda liked it though.

 

Build a crapload of nuclear power plants, and the environmental issues should be solved... I guess you have knowledge that makes this statement look stupid (you are after all studying the subject) so I will just leave this as a joke. I just hope the solution to sustainable environmentally friendly energy is not to simply stop using energy...

the thing you are looking for is called molten salt reactors, they are much safer, they use the wastes of other reactors

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5 hours ago, Okjoek said:

My Opinions:

Either I really don't understand this crypto-currency stuff or this thing looks like it could crash really hard.

Clearly this is the only reason Bitcoin's value kept rising, just so they could make this joke.

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5 hours ago, Okjoek said:

The idea of a decentralized currency became appealing to me, and it still is, but at what cost? What a waste of human resources is all I can see and for something I generally cannot use to pay for my basic needs: Food, Water, Shelter or Utilities.

Just get a credit card that is linked to a Bitcoin wallet, seems like the best way to do it and the only way in my country since we are not allowed to exchange crypto currencies to NZD here.

 

https://bitpay.com/card/

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Bitcoin itself will never be used in normal small payments in stores, the reason is that the fee is way to large and it takes way to long time for a transaction to happen.

 

Or people borrowing small quantities to friend and family or whatever.

 

There might come a crypto in the future where it is possible tho.

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and to think i put off buying a few bitcoins when it hit 700 because i thought it was going to crash.....

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6 hours ago, VegetableStu said:

so take this complete pleb like me: should I start to mine bitcoin today, and should I start to buy a speck of a bitcoin for investment? o_o

If you are investing when it become very public you should not be investing. you are a few years late.

If you are going to invest in a currency you might want to learn a lot about economy, and peoples impressions on money.

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2 hours ago, Agost said:

IDGAF about that money. Cryptocurrencies make no sense, harm the gaming industry (not only that) and consume too much power; moreover, they have close to zero regulation.

Spotted the nocoiner.

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3 hours ago, Agost said:

I seriously hope BTC and all the other cryptocurrencies will explode and disappear as soon as possible.

when is soon? its been 8 years, and it has yet to even slow down its growth.

if you want to annoy me, then join my teamspeak server ts.benja.cc

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2 hours ago, Okjoek said:

I do kick myself a little for getting the RX 460 rather than the 480 when they were all coming out. On the bright side I'm really happy that the sub 150 USD cards weren't really affected. Nobody really needs more than a 100 USD GPU. I'm running my brother's GTX 1070 right now and my RX 460 was moved to our HTPC. I can tell you this GTX 1070 isn't necessary at all to have a good gaming experience.

I upgraded my monitor to a UHD freesync one this summer, still can't get a decent priced video card from AMD. I'm sitting here with my 670 and it's kinda frustrating.

2 hours ago, tjcater said:

Blame alt coins that are more efficient on GPUs (Like etherium, as I do not think there are ASICs designed for it, but I could be wrong). Bitcoin, to my understanding, has for a long time been more efficient/profitable on ASICs (Like antminer).

I was talking about all cryptocurrencies.

2 hours ago, apm said:

what does that have to do with gaming tho?

Less people can get good performing machines at reasonable prices. 

2 hours ago, iRandomize said:

I obviously can’t comment on the situation in your country. But where I’m from, electricity prices are reasonably low, and mining is happening at a somewhat decent scale. This means that with every new generation of graphic cards, the old cards are replaced in a huge scale. So the used market is flooded with previous generation video cards, to the point that I just gave away my 670 and 780 when getting my 980 at launch, and I think the situation is pretty much unchanged. From now on I will be buying previous generation cards at every new launch, cause buying cards at 0 resale value sucks... my friends kinda liked it though.

 

Build a crapload of nuclear power plants, and the environmental issues should be solved... I guess you have knowledge that makes this statement look stupid (you are after all studying the subject) so I will just leave this as a joke. I just hope the solution to sustainable environmentally friendly energy is not to simply stop using energy...

Again, it's not a cost issue; well, electricity is expensive here, but it's not related to my point. I can assure you that the used market here is much worse than in US or Canada and the prices of new stuff is pretty bad too.

Fission based nuclear plants take a lot of time and money to build and many countries can't build them because of the law (like in Italy) or because of international treaties (NTP). Moreover, waste storage can't be taken for granted.

29 minutes ago, Cookybiscuit said:

Spotted the nocoiner.

As you can see, I'm against cryptocurrencies, yes.

26 minutes ago, The Benjamins said:

when is soon? its been 8 years, and it has yet to even slow down its growth.

BTC wasn't that relevant until 2013, when it actually started to gain more interest (and value)

As soon as possible, hopefully. I think it's not normal at all for a currency to increase tenfold in price in less than one year without consequences.

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6 hours ago, Okjoek said:

The same as today. You can't use it to purchase every day necessities. It's just an investor's play-thing

You can but you have to look a bit more then other things. Until recently(2015), Tim Hortons didnt take credit cards.Shit takes time to be adopted.

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13 minutes ago, Agost said:

Again, it's not a cost issue; well, electricity is expensive here, but it's not related to my point. I can assure you that the used market here is much worse than in US or Canada and the prices of new stuff is pretty bad too.

Cost of electricity was related to the availability of used graphics cards. Low cost of electricity -> many miners -> high supply of used hardware.

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14 minutes ago, Agost said:

As soon as possible, hopefully. I think it's not normal at all for a currency to increase tenfold in price in less than one year without consequences.

sounds like you don't understand why it grew so much. the more people use it the greater it value must be. a easy way to look at it is the market cap of BTC vs USD(or any)

BTC has a market cap of 150~ billion which is nothing compared to USD which is passed 1.5 Trillion. but BTC is a global currency so it can potentially server more people. as BTC grows in adoption and acceptance it will grow in value. if it grew to the scale of USD it can easily be over 100,000 per BTC. and most of the influence of BTC in the past years has been Asian countries.

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4 minutes ago, iRandomize said:

Cost of electricity was related to the availability of used graphics cards. Low cost of electricity -> many miners -> high supply of used hardware.

There actually are people selling used RX cards, but pricing is bad. However it's also because some people are buying them at those prices nevertheless

2 minutes ago, The Benjamins said:

BTC has a market cap of 150~ billion which is nothing compared to USD which is passed 1.5 Trillion. 

1.5? Pretty sure it's MUCH more

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7 hours ago, FloRolf said:

Can someone please get me a timetravel machine and put me back to 2008 so I can buy all the Bitcoins? 

The first pizza bought with bitcoin was bought for a huge amount of money (like 10K bitcoin)

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Just now, Agost said:

There actually are people selling used RX cards, but pricing is bad. However it's also because some people are buying them at those prices nevertheless

1.5? Pretty sure it's MUCH more

I did say passed, I wasn't not able to find better number. but that's not the point. the point is that the growth of BTC is still small and has a lot more room to rise.

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