Bitcoin Thread

[NarrowBandFtw]

View attachment 1168164 FUD POLICE View attachment 1168164

just telling it like it is

ETF for x = great!
futures ETF for x = manipulation mechanism

doesn't matter if x is BTC or gold or whatever, there is no need for futures when dealing with something that can be settled almost instantly at almost no charge, period

 

[dusi]

I think we'll have to wait and see how this effects the market, it should also bring in alot of institutional interest. But this all just legitimises BTC further as an investment asset. If we want to reach the market cap of gold, then these steps need to happen.

 

[NarrowBandFtw]

I think we'll have to wait and see how this effects the market, it should also bring in alot of institutional interest. But this all just legitimises BTC further as an investment asset. If we want to reach the market cap of gold, then these steps need to happen.

someone much savvier than me explaining in detail the many issues with futures contracts and why it is completely unnecessary for crypto (starts at 13:34):

 

[SauRoNZA]

It's backed by Mike Jordaan, one of SA's best CEOs (ex FNB), and Bittrex so I trust them. Liquidity is decent considering it's a local exchange.

So was Luno…

 

[dusi]

So was Luno…

You sure about that.

https://twitter.com/x/status/1382617342035787780

 

[Snyper564]

Let the next cycle begin

 

[wingnut771]

Let the next cycle begin

View attachment 1168382

How long does that last?

 

[Sensorei]

So was Luno…

Nope. Mike turned down the opportunity to invest in Luno because had just announced his resignation from FNB and it wasn't a good look for a banker. Whereas, he was VALR's main financial backer along with Bittrex.

 

[dusi]

A moment of silence for the bears.

 

[dusi]

How long does that last?

Each cycle is 4 years long due to the bitcoin mining reward being halved every 4 years, so there tends to be 2 years bear market followed by 2 years bull market. We're nearing the end of the current cycle, I think a few more months into next year. Let's see if we can break this all time high.

 

[wingnut771]

Each cycle is 4 years long due to the bitcoin mining reward being halved every 4 years, so there tends to be 2 years bear market followed by 2 years bull market. We're nearing the end of the current cycle, I think a few more months into next year. Let's see if we can break this all time high.

So now not a good time to drop R250k on a new mining rig?

 

[w1z4rd]

So now not a good time to drop R250k on a new mining rig?

Its always a good time to buy a new rig No one knows how the future will pan out, everyone is guessing.

 

[dusi]

So now not a good time to drop R250k on a new mining rig?

The halvening is usually in the middle of the 4 year cycle. According to this website the next reward halvening is estimated to be in May 2024, so you got some time to mine bitcoin before the next reward drop.

 

[Snyper564]

Its always a good time to buy a new rig No one knows how the future will pan out, everyone is guessing.

@wingnut771 this, but pls be careful never spend more than you can afford to lose either.

 

[wingnut771]

Its always a good time to buy a new rig No one knows how the future will pan out, everyone is guessing.

The halvening is usually in the middle of the 4 year cycle. According to this website the next reward halvening is estimated to be in May 2024, so you got some time to mine bitcoin before the next reward drop.

View attachment 1168402

Even if it's for ethereum?

 

[dusi]

Even if it's for ethereum?

Speak to @w1z4rd he's the mining wizard. I think he was mining Ravencoin at some point. I think when bitcoin goes into a bear market after this cycle ends then the alts will follow, so you might earn less from crypto mined. But who knows what will happen, could be another altseason after bitcoin tops out.

 

[Snyper564]

@wingnut771 part of my DYOR

 

[Sensorei]

Even if it's for ethereum?

ETH 2.0 means no more mining Ethereum soon.

 

[dusi]

ETH 2.0 means no more mining Ethereum soon.

Ethereum Classic is one of the more profitable coins to mine.

https://etc.ethermine.org/

Dogecoin is also quite good to mine, the code is a clone of bitcoin and then with the massive price increase the last year and increased transactions miners have done well with that.

 

[The Voice]

ETH 2.0 means no more mining Ethereum soon.

But most importantly, ETH 2.0 means no more ridiculous gas fees.