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/biz/ - Business & Finance

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4851416 No.4851416 [Reply] [Original]

>2017, October 27th.
The Bitcoin price is $5,700.
Major investors begin to dump billions of dollars into Bitcoin.
The mining community uses as much electricity as half of Ireland.

>2017, November 12th.
Large ad-agencies, with the help of investors, place millions in Facebook and Google ads, promoting Bitcoin.
New Bitcoin exchanges begin to settle in many different countries, regardless of their legitimacy.
Reddit, 4chan, and other large forum accounts begin promoting Bitcoin and its properties.
Posts about "winning" on Bitcoin investments are a majority among forums.
Debates about possible risks with Bitcoin appear to be miniscule.

>2017, December.
The Bitcoin price reaches $15,000.
Tether speculations begin to rise, only to be silenced.
Major exchanges appear to lock their services when users want to sell currency for fiat.
Debates about possible risks with Bitcoin exchanges appear to be miniscule and/or silenced.
Bitcoin promotion on the internet, radio and TV grows.
The regular citizen begin to invest in Bitcoin because of their greed for quick money.
The mining community now uses as much electricity as all of Haiti.
The electricity used grows by 450 gigawatts per day.

>2018, June.
The Bitcoin price is anywhere from $10,000 to $100,000.
The mining community now uses as much electricity as the whole United States, everyday.
Big investors exits.
Big vendors stop accepting Bitcoin.

>2018, late July.
The mining community now uses as much electricity as the whole planet Earth, everyday.
The Bitcoin price is now below $10,000.
There are no major exchanges left who support Bitcoin.
"Anti-Bitcoin" posts begin to rise.
Owners cannot sell their Bitcoins for asking price, panic ensues.

>2018, August.
Bitcoin is no longer being mined.
No vendor support for Bitcoin.
No exchange support for Bitcoin.
The Bitcoin price is below $100.

>> No.4851680

>>4851416
True but this will all happen in a week not in 6 months.

>> No.4851761

>>4851416
>Big vendors stop accepting Bitcoin.
already happening, steam dropped out

>> No.4851798

>>4851761
Vendors like Amazon or AliExpress may accept Bitcoin anytime soon, but they will stop accepting them later on.

Everyone is joining this frenzy, even large companies.

>> No.4851856

I am richer than i have ever been in my life right now.

and i dont like it one bit

>> No.4851883

>>4851856
Welcome to hell
Enjoy your stay

>> No.4851894

>>4851856
Sell/spend it while you can.
Please, don't be greedy.
This will fuck all of us over.

I already sold mine at $16,300

>> No.4851994

>>4851761
Steam dropped because of btcs inane price fluctuations.

Once btc is a standardized household thing gaben will come crawling back.

>> No.4852026

>>4851994
This
They even said the fees and volatility right now we're making it impractical
They'll be back
At $50k

>> No.4852071

>>4851994
>>4852026
You fucking retards, the only reason price volatility is a problem is because of the long transaction fees. When your shitcoin arrives 3 hours after you made the payment the price changed, that's the issue. Fucking brainlets.

>> No.4852128

>>4851856
sell 2x your principal, no matter what happens next atleast you'll have doubled your investment

>> No.4852137

>>4852071
>that was implied

>> No.4852163

>tfw you're too late to the party
fuck me

>> No.4852216

>>4852163
I was telling my friends about bitcoin in 2013. Bought one bitcoin for 200 bucks. I'm on suicide watch right now.

>> No.4852308

>>4851798
Do you know how fucking low Amazon margins are?
They are not touching BTC with a 100ft pole.

>> No.4852377

>2017, October 27th.
OP is a faggot

>2017, November 12th.
OP is a faggot

>2017, December.
OP is a faggot

>2018, June.
OP is a faggot

>2018, late July.
OP is a faggot

>2018, August.
OP is still gonna be a huge faggot

>> No.4852677

>>4852216
why you haven't killed yourself yet is beyond me.

you had to do one thing

>> No.4853096

The electricity argument is false and has been destroyed already, if you care to google it.

>> No.4853124

>>4852377
hum, seems to be a pattern gonna need some more time to work through it dough

>> No.4853151

>>4852677
No use killing yourself over spilt milk.
Wish I still had my 6 btc and 50 eth from way back..

>> No.4853308

>>4853096
Fucking troll.

https://www.wired.com/story/bitcoin-mining-guzzles-energyand-its-carbon-footprint-just-keeps-growing/

>> No.4853524

>>4852677
>why haven't you killed yourself since you can't predict the future

you realize how retarded you sound right

>> No.4853624

i missed on it fuck
no way i am going to buy a BTC at this price
fuck

>> No.4853705

>>4853096
>The electricity argument is false and has been destroyed already

Are you one of these retards who says the extreme electricity cost is what gives BTC its value?

>> No.4853896

>>4851416
sauce, OP's brilliant mid, plz have absolute faith in his absolutely unclouded judgement.

>> No.4853911

I sold, fuck this. Maybe it will shoot to 100k, maybe to 100, but I got out with a nice profit so I'm done gambling

>> No.4854279

>>4851416
>debates about possible risks with bitcoin
>fucking december 2017
>4chan promoting bitcoin november 2017
Nice revisionist history.

>> No.4854403

>>4854279
You are a retard.

>> No.4854747

>>4854403
Not an argument.

>> No.4854785

what the fuck am I gonna do. forced to hold.

>> No.4854812
File: 49 KB, 646x484, Screen Shot 2017-12-07 at 11.29.52 AM.png [View same] [iqdb] [saucenao] [google]
4854812

forgot pic. forced to hold. AHAHHAHAHA FUCK

>> No.4854828

>>4854747
Bitcoin has been promoted everywhere for the last 2 months, don't try to deny that.

I mean heavily promoted by outsiders who want to pump the price.

>> No.4854864

>>4854812
where the fuck do you buy btc that it takes so long?

whenever I buy them it takes about 1 hour or less

>> No.4854907

>>4851894
There, he gave himself away. Nice FUD

>> No.4854960

>>4854864
>where the fuck do you buy btc that it takes so long?

coinbase. bank account. I dont have a drivers license so I cant do credit card.

>> No.4854979

>>4854960
cheaper fees using a bank anyways, they lock in the price.

>> No.4855072
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4855072

>>4851416
>The mining community now uses as much electricity as the whole planet Earth, everyday.

>> No.4855094

>>4854979
>cheaper fees using a bank anyways, they lock in the price

less risky, no charge back. fees were loooow.

>> No.4855158

>>4852128
that's how you stay poor, anon

I invested $600 in 2011 and I made off like a bandit only selling to cover expenses

>> No.4855237

>>4855072
Troll.

The mining community consumes 31 terawatt-hours per year as of this week.
It's the same as 150 countries the size of France, combined.

At the rate per 450 gigawatts per day, we'll reach the planet total energy consumption by June 12th.

https://yearbook.enerdata.net/electricity/electricity-domestic-consumption-data.html

https://www.wired.com/story/bitcoin-mining-guzzles-energyand-its-carbon-footprint-just-keeps-growing/

>> No.4855296

>>4854828
You dont even know where you are do you?
Bitcoin has always been shilled on /biz/.
It started getting shilled heavily when eth started picking up in january as the most stable gain coin.
There was bitcoin and eth and then "shitcoins".
This board was made to get bitcoin threads off of /g/.

>> No.4855343

>>4855237
31 tWh is nothing

>> French gross production of electricity amounted to 557 terawatt-hours (TWh) in 2014

>> No.4855349

>>4855296
Bitcoin has never been this popular on the internet as it is right now. Ads about it are targeted on everyone on social media.

/biz/ is nothing compared to where all the normies see ads.

>> No.4855419

>>4852163
fuck it, I'm late too and I have 25 dollars to my name right now and I'm going to put into a shitcoin, better late than never

>> No.4855452

>>4855343
Sorry, I was wrong.
I meant that by June, it will be 150x France worth of electricity.

The energy consumption for mining has already gone up by 29% this month.

>> No.4855487

>>4855349
Cool random post that has nothing to do with my post.
I specifically said shilled on 4chan and about debates about bitcoin.
There have been articles about bitcoin constantly being pumped out by everyone who matters since the rise in january.
I could care less about shilling on facebook. The OP specifically says shilling on 4chan and reddit started in November which is retarded revisionist history.

>> No.4856312

>>4853308
nice article were de numbers come from?

a rough estimation with real numbers
HASH RATE: 14,867,776.05 TH/s
Antimner S9 : 11.5 TH/S; 1127 W / h
thats : 1,292,850 antminer
= 1,457,041 kW / h
= 1.45 TW / h
16.5 x less than Nigeria
nice try OP

>> No.4856351

>>4856312
TL;DR

>>4852377
>2017, October 27th.
OP is a faggot

>2017, November 12th.
OP is a faggot

>2017, December.
OP is a faggot

>2018, June.
OP is a faggot

>2018, late July.
OP is a faggot

>2018, August.
OP is still gonna be a huge faggot