Forum Topics Bitcoin as an investment
Zboats
11 hours ago

This is quite interesting information for anyone interested in reading about Bitcoin and energy consumption:

https://docsend.com/view/adwmdeeyfvqwecj2 

Turns out energy consumption is half as much for mining regular Gold and it even outlines how Bitcoin mining can be an effective use of intermittent energy sources that are otherwise curtailed. It also mentions a more efficient solution for the capture and use of methane (rather than venting it into the atmosphere or flaring it).

stumbled on it here for anyone who doesn't have the time/want to read the full report: https://finance.yahoo.com/news/galaxy-digital-bitcoin-consumes-less-064229894.html

 

 

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aliceterme
20 hours ago

 My cousin and I are beginners for a year, his brother gave us a tip to invest in Bitcoin. 

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EricScott
2 weeks ago

Hello.Tell me please, does anyone buy Bitcoin now? Is it profitable or with the kind of spikes we have today it is better not to do it?

 

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ninfy
2 weeks ago

Buy when the sentiment is real low. 25K USD is a key support level and the next leg up could see it got to 90-100K.

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Buzzview
2 weeks ago

Before you get into bitcoin familiarise yourself with the bitcoin halving cycle. Technically a reversal of the downward trend would be it trading above $42k USD. Before you invest understand the fundamentals, if you dont the volitility will likely scare you. 

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Rick
2 weeks ago

I am not convinced on Bitcoin as an investment as I have absolutely no idea how to value it.

I like the blockchain technology. It is no doubt a digital disruptor for all  things that need to be securely traced now and in the future. I don't know if the value of a Bitcoin is an investment in the blockchain technology itself or in Bitcoin as a currency...ie. ' a promise' it can be exchanged for a predictable amount of  'goods and services' at some time in the future? (Marcus Padley talks about this on EquityMates).

Until today I had an ethical dilemma with Bitcoin as a potential vehicle for money laundering and corruption thinking a centralised banking system might have a better chance of rooting it out. However this Motley Fool Article explains how the FBI tracked a $2m ransom back to the perpetrator using publically available blockchain data. This could be a real plus for Bitcoin and other crypto currencies in the future.

As a big advocate for sustainable development I still have an issue with the huge energy consumption. I understand that Bitcoin is moving to greener energy where it is cheap. However, at this stage there is still a huge amount of cheap, dirty coal power used to mine Bitcoin in China. I've heard the argument that one day all energy will be green and free. This might be possible, but it is hard to comprehend this, and will it be limitless? If energy were free there would be so many competing uses eg. food, water, transportation etc. If only we had a crystal ball! :)

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AlphaAngle
2 weeks ago

How much energy is it worth to ensure a free and open financial system? Realistically bitcoin is probably the most efficient way to achieve this we currently have. Think of it replacing every goldmine and every bank. Ask yourself why some of the biggest companies in Australia are banks? What energy use is acceptable  is obviously a personal question, I think (as do evidently a lot of people) its worth a lot. Anyway it seems to me the energy question is solved by a free and open market and countries regulating miners to use renewables not banning the new technology (got to be the worst knee Jerk reaction).

Just think why should you have to go and ask permission to send someone your money? What if they said no? What if you can't even open a bank account? What is that worth to the world? Why should it take days?  

If you like the traceability of transactions you may not appreciate the taproot upgrade which will make this harder.

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Mark1
2 weeks ago

Hi Rick,

 

Can you extend on your thoughts behind this, please?  :)(NB the FBI only got $2, or the $5m ransomed. ie still a great pay-off for the crooks)FBI tracked a $2m ransom back to the perpetrator using publically available blockchain data.   "This could be a real plus for Bitcoin and other crypto currencies in the future."Thanks,Mark 

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Mark1
2 weeks ago

On another point... Crypto mining must be more expensive with the high price of oil atm. High enough to affect the BTC price?

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Rick
2 weeks ago

Hi Mark,

Sorry, I abbreviated the $2 million:

''According to a press release from the Department of Justice yesterday, U.S. federal authorities have recovered 63.7 bitcoins, worth over $2 million'

Cheers,

Rick

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Rick
2 weeks ago

Hi AlphaAngle, you make good points!

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