The House always wins? Who is the House? What are their names? How many Bitcoins does the House hold?

Only 21 million Bitcoins total will be produced? How do you know? Who says?

Thanks in advance.

Fascinating to me how many reputable brokerage firms have fallen victim to the FOMO Crypto craziness. This could be financially devastating if they are wrong. Gonna be interesting.

if you are truly interested. Bitcoin is stateless, worldwide and cant be debased. Smart money has alreaady bought and now retail will FOMO in at higher prices. There will still be 4 year cycles but with the etf's and more liquidity the volatility should reduce somewhat.

Wall Street giant Fidelity now holds 150K #btc Bitcoin worth over $10 billion

Bullish for Bitcoin Miners$riot $mara $clsk $iren $bitf $wulf $cifr $btdr $sdig $btbt $corz $can $hive $any $mstr $sq $pypl $tsla $migi $arbk pic.twitter.com/gd2dW2oRaD

— Barlow Investing (@Awakene70440226) April 9, 2024

BaylorGuy314 said:

---

Bitcoin has it's place. It's a great way to do private transactions. I, for one, pay all my hookers in bitcoin, for example.

In all seriousness, it's value as an investment tool is dumb and is easy to replicate with blockchain tech. It has no underlying value because it's not backed by anything. Why not virtual Shrute Bucks instead?

---

Why the Hell does a currency consume so much electricity? Why does a currency consume any electricity at all? This is another caveat that makes ZERO sense to me.

RD2WINAGNBEAR86 said:

---

BaylorGuy314 said:

---

Bitcoin has it's place. It's a great way to do private transactions. I, for one, pay all my hookers in bitcoin, for example.

In all seriousness, it's value as an investment tool is dumb and is easy to replicate with blockchain tech. It has no underlying value because it's not backed by anything. Why not virtual Shrute Bucks instead?

---

Why the Hell does a currency consume so much electricity? Why does a currency consume any electricity at all? This is another caveat that makes ZERO sense to me.

---

It would make more sense to you if you actually tried to read about it or learn about it but I think you just like to come on here and talk crap about it for fun so you can just keep doing that for the next decade while it goes to a million +.

muddybrazos said:

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RD2WINAGNBEAR86 said:

---

BaylorGuy314 said:

---

Bitcoin has it's place. It's a great way to do private transactions. I, for one, pay all my hookers in bitcoin, for example.

In all seriousness, it's value as an investment tool is dumb and is easy to replicate with blockchain tech. It has no underlying value because it's not backed by anything. Why not virtual Shrute Bucks instead?

---

Why the Hell does a currency consume so much electricity? Why does a currency consume any electricity at all? This is another caveat that makes ZERO sense to me.

---

It would make more sense to you if you actually tried to read about it or learn about it but I think you just like to come on here and talk crap about it for fun so you can just keep doing that for the next decade while it goes to a million +.

---

So why the heck does a currency waste so much electricity? As of 12/18/2023, 19.57 million Bitcoins have been mined. "They" say only 21 million Bitcoins will be made. How do you know? Who actually is "they"? These are all serious questions that nobody or any video has been able to answer for me. I promise I'm not trying to muddy the waters (no pun intended). They say don't invest in anything you don't understand. I am trying like Hell to understand but I don't.

RD2WINAGNBEAR86 said:

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muddybrazos said:

---

RD2WINAGNBEAR86 said:

---

BaylorGuy314 said:

---

Bitcoin has it's place. It's a great way to do private transactions. I, for one, pay all my hookers in bitcoin, for example.

In all seriousness, it's value as an investment tool is dumb and is easy to replicate with blockchain tech. It has no underlying value because it's not backed by anything. Why not virtual Shrute Bucks instead?

---

Why the Hell does a currency consume so much electricity? Why does a currency consume any electricity at all? This is another caveat that makes ZERO sense to me.

---

It would make more sense to you if you actually tried to read about it or learn about it but I think you just like to come on here and talk crap about it for fun so you can just keep doing that for the next decade while it goes to a million +.

---

So why the heck does a currency waste so much electricity? As of 12/18/2023, 19.57 million Bitcoins have been mined. "They" say only 21 million Bitcoins will be made. How do you know? Who actually is "they"? These are all serious questions that nobody or any video has been able to answer for me. I promise I'm not trying to muddy the waters (no pun intended). They say don't invest in anything you don't understand. I am trying like Hell to understand but I don't.

---

BItcoin runs on a network that operates as a distributive ledger. Distributed ledger technology is a platform that uses ledgers stored on separate, connected devices in a network to ensure data accuracy and security. Blockchains evolved from distributed ledgers to address growing concerns that too many third parties are involved in too many transactions.

from the Bitcoin protocol network wiki: The Bitcoin protocol is the set of rules that govern the functioning of Bitcoin. Its key components and principles are: a peer-to-peer decentralized network with no central oversight; the blockchain technology, a public ledger that records all Bitcoin transactions; mining and proof of work, the process to create new bitcoins and verify transactions; and cryptographic security.

To your question about the energy used, I think that misnomer just comes from bad press about bitcoin, It probably uses the same or less energy to power the entire BTC network for a day as it does to run the Las Vegas strip.

So bottom line is blockchain technology is the future and its coming one way or another. Pretty soon all banking, stocks, real estate contracts, the web 3 etc will be running on blockchain tech. Crypto is like in the same stage as the 1990s for the internet.

"A winner of the Nobel Prize in Economics, Paul Krugman wrote in 1998, "The growth of the Internet will slow drastically, as the flaw in 'Metcalfe's law'which states that the number of potential connections in a network is proportional to the square of the number of participantsbecomes apparent: most people have nothing to say to each other! By 2005 or so, it will become clear that the Internet's impact on the economy has been no greater than the fax machine's."

TLDR: its a network that is cryptograhically secure and is able to transfer payments quickly & inexpesively. Its not controlled by any governments or companies and its gaining mass adoption. It also allows me to keep it on a thumb drive type device and not in a bank. Watch some youtubes of Michael Saylor.

Remember when Obama floated the idea of creating a single coin to wipe out the national debt? It's worth $18B because we say it's worth $18B we were told. The same phony logic drives the price of crypto.

https://www.yahoo.com/finance/news/bitcoins-market-cap-eclipse-16t-150831501.html

Time to bet the farm! LOL!!!

I've begun me own grass roots movement to bring back wampum.

yes, wampum.

slow go for now - emphasis on for now.

we will change the world as the chaos keeps spreading.

- el KKM

in dale speramus.

{ sipping coffee }

RD2WINAGNBEAR86 said:

---

https://www.yahoo.com/finance/news/bitcoins-market-cap-eclipse-16t-150831501.html

Time to bet the farm! LOL!!!

---

Going higher soon. I bet we see a move up towards around 90k in the next month. I bet btc ends April slightly down since its in a consolidation range but over the next 6-8 months its going parabolic.

RD2WINAGNBEAR86 said:

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muddybrazos said:

---

RD2WINAGNBEAR86 said:

---

BaylorGuy314 said:

---

Bitcoin has it's place. It's a great way to do private transactions. I, for one, pay all my hookers in bitcoin, for example.

In all seriousness, it's value as an investment tool is dumb and is easy to replicate with blockchain tech. It has no underlying value because it's not backed by anything. Why not virtual Shrute Bucks instead?

---

Why the Hell does a currency consume so much electricity? Why does a currency consume any electricity at all? This is another caveat that makes ZERO sense to me.

---

It would make more sense to you if you actually tried to read about it or learn about it but I think you just like to come on here and talk crap about it for fun so you can just keep doing that for the next decade while it goes to a million +.

---

So why the heck does a currency waste so much electricity? As of 12/18/2023, 19.57 million Bitcoins have been mined. "They" say only 21 million Bitcoins will be made. How do you know? Who actually is "they"? These are all serious questions that nobody or any video has been able to answer for me. I promise I'm not trying to muddy the waters (no pun intended). They say don't invest in anything you don't understand. I am trying like Hell to understand but I don't.

---

The argument is that it is not a waste of electricity. It can act as a buffer for plants that would otherwise burn off fuel or not exist. E.g, in Texas we can have a ton of extra energy when we need it.

As far as who gets to say how many bitcoins, that is part of the algorithm. The main point of bitcoin is that no one can control the currency unlike fiat.

For the record, I hope the entire thing burns to the ground.

ron.reagan said:

---

RD2WINAGNBEAR86 said:

---

muddybrazos said:

---

RD2WINAGNBEAR86 said:

---

BaylorGuy314 said:

---

Bitcoin has it's place. It's a great way to do private transactions. I, for one, pay all my hookers in bitcoin, for example.

In all seriousness, it's value as an investment tool is dumb and is easy to replicate with blockchain tech. It has no underlying value because it's not backed by anything. Why not virtual Shrute Bucks instead?

---

Why the Hell does a currency consume so much electricity? Why does a currency consume any electricity at all? This is another caveat that makes ZERO sense to me.

---

It would make more sense to you if you actually tried to read about it or learn about it but I think you just like to come on here and talk crap about it for fun so you can just keep doing that for the next decade while it goes to a million +.

---

So why the heck does a currency waste so much electricity? As of 12/18/2023, 19.57 million Bitcoins have been mined. "They" say only 21 million Bitcoins will be made. How do you know? Who actually is "they"? These are all serious questions that nobody or any video has been able to answer for me. I promise I'm not trying to muddy the waters (no pun intended). They say don't invest in anything you don't understand. I am trying like Hell to understand but I don't.

---

The argument is that it is not a waste of electricity. It can act as a buffer for plants that would otherwise burn off fuel or not exist. E.g, in Texas we can have a ton of extra energy when we need it.

As far as who gets to say how many bitcoins, that is part of the algorithm. The main point of bitcoin is that no one can control the currency unlike fiat.

For the record, I hope the entire thing burns to the ground.

---

Thank you for your reply, Ronnie. I am still trying to understand it. I am still not sold on the " no one can control it" part. I am still not convinced. Guess I am neutral on its success or failure. If it does collapse, I just don't want to see it damage and bring down other markets. By the same token, I guess its collapse could boost other markets! Who knows? If I was a young man in my 20s or 30s, I might be willing to take a position and if nothing else make a short-term play. At 60 and retired, I am just not going there.

muddybrazos said:

---

RD2WINAGNBEAR86 said:

---

https://www.yahoo.com/finance/news/bitcoins-market-cap-eclipse-16t-150831501.html

Time to bet the farm! LOL!!!

---

Going higher soon. I bet we see a move up towards around 90k in the next month. I bet btc ends April slightly down since its in a consolidation range but over the next 6-8 months its going parabolic.

---

Not sure about the "going parabolic" part, but I wish you well. You can still make a chunk of money if you get out in time. Like Kenny Rogers sang, "You gotta know when to hold 'em, know when to fold 'em!".

Good luck muddy.

RD2WINAGNBEAR86 said:

---

muddybrazos said:

---

RD2WINAGNBEAR86 said:

---

https://www.yahoo.com/finance/news/bitcoins-market-cap-eclipse-16t-150831501.html

Time to bet the farm! LOL!!!

---

Going higher soon. I bet we see a move up towards around 90k in the next month. I bet btc ends April slightly down since its in a consolidation range but over the next 6-8 months its going parabolic.

---

Not sure about the "going parabolic" part, but I wish you well. You can still make a chunk of money if you get out in time. Like Kenny Rogers sang, "You gotta know when to hold 'em, know when to fold 'em!".

Good luck muddy.

---

The Psychology of a Market Cycle: pic.twitter.com/c9AAJSuIwl

— Matt Allen (@investmattallen) July 3, 2023

I dont know if you have seen this before but bitcoin typically follows this to a T. We are between optimism and belief right now.

muddybrazos said:

---

RD2WINAGNBEAR86 said:

---

muddybrazos said:

---

RD2WINAGNBEAR86 said:

---

https://www.yahoo.com/finance/news/bitcoins-market-cap-eclipse-16t-150831501.html

Time to bet the farm! LOL!!!

---

Going higher soon. I bet we see a move up towards around 90k in the next month. I bet btc ends April slightly down since its in a consolidation range but over the next 6-8 months its going parabolic.

---

Not sure about the "going parabolic" part, but I wish you well. You can still make a chunk of money if you get out in time. Like Kenny Rogers sang, "You gotta know when to hold 'em, know when to fold 'em!".

Good luck muddy.

---

The Psychology of a Market Cycle: pic.twitter.com/c9AAJSuIwl

— Matt Allen (@investmattallen) July 3, 2023

I dont know if you have seen this before but bitcoin typically follows this to a T. We are between optimism and belief right now.

---

When it comes down to it, my " Know when to hold 'em, know when to fold 'em" analogy applies to stocks as well. I have made and lost fortunes in the stock market.

muddybrazos said:

---

RD2WINAGNBEAR86 said:

---

https://www.yahoo.com/finance/news/bitcoins-market-cap-eclipse-16t-150831501.html

Time to bet the farm! LOL!!!

---

Going higher soon. I bet we see a move up towards around 90k in the next month. I bet btc ends April slightly down since its in a consolidation range but over the next 6-8 months its going parabolic.

---

you speak with forked tongue, white man.

- kkm

{ eating billy paultz avec fromage }

D!

RD2WINAGNBEAR86 said:

---

ron.reagan said:

---

RD2WINAGNBEAR86 said:

---

muddybrazos said:

---

RD2WINAGNBEAR86 said:

---

BaylorGuy314 said:

---

Bitcoin has it's place. It's a great way to do private transactions. I, for one, pay all my hookers in bitcoin, for example.

In all seriousness, it's value as an investment tool is dumb and is easy to replicate with blockchain tech. It has no underlying value because it's not backed by anything. Why not virtual Shrute Bucks instead?

---

Why the Hell does a currency consume so much electricity? Why does a currency consume any electricity at all? This is another caveat that makes ZERO sense to me.

---

It would make more sense to you if you actually tried to read about it or learn about it but I think you just like to come on here and talk crap about it for fun so you can just keep doing that for the next decade while it goes to a million +.

---

So why the heck does a currency waste so much electricity? As of 12/18/2023, 19.57 million Bitcoins have been mined. "They" say only 21 million Bitcoins will be made. How do you know? Who actually is "they"? These are all serious questions that nobody or any video has been able to answer for me. I promise I'm not trying to muddy the waters (no pun intended). They say don't invest in anything you don't understand. I am trying like Hell to understand but I don't.

---

The argument is that it is not a waste of electricity. It can act as a buffer for plants that would otherwise burn off fuel or not exist. E.g, in Texas we can have a ton of extra energy when we need it.

As far as who gets to say how many bitcoins, that is part of the algorithm. The main point of bitcoin is that no one can control the currency unlike fiat.

For the record, I hope the entire thing burns to the ground.

---

Thank you for your reply, Ronnie. I am still trying to understand it. I am still not sold on the " no one can control it" part. I am still not convinced. Guess I am neutral on its success or failure. If it does collapse, I just don't want to see it damage and bring down other markets. By the same token, I guess its collapse could boost other markets! Who knows? If I was a young man in my 20s or 30s, I might be willing to take a position and if nothing else make a short-term play. At 60 and retired, I am just not going there.

---

You can get a gemini card that pays you cash back in bitcoin. Accumulating small amounts over time can add up to something big. As you mentioned, it may be something more for a young person.

william said:

---

muddybrazos said:

---

RD2WINAGNBEAR86 said:

---

https://www.yahoo.com/finance/news/bitcoins-market-cap-eclipse-16t-150831501.html

Time to bet the farm! LOL!!!

---

Going higher soon. I bet we see a move up towards around 90k in the next month. I bet btc ends April slightly down since its in a consolidation range but over the next 6-8 months its going parabolic.

---

you speak with forked tongue, white man.

- kkm

{ eating billy paultz avec fromage }

D!

---

Billy Paultz?? Have not heard that name in decades. You are showing your age, chicken man.

RD2WINAGNBEAR86 said:

---

william said:

---

muddybrazos said:

---

RD2WINAGNBEAR86 said:

---

https://www.yahoo.com/finance/news/bitcoins-market-cap-eclipse-16t-150831501.html

Time to bet the farm! LOL!!!

---

Going higher soon. I bet we see a move up towards around 90k in the next month. I bet btc ends April slightly down since its in a consolidation range but over the next 6-8 months its going parabolic.

---

you speak with forked tongue, white man.

- kkm

{ eating billy paultz avec fromage }

D!

---

Billy Paultz?? Have not heard that name in decades. You are showing your age, chicken man.

---

still grab a whopper* de vez en cuando, cunado.

- el KKM

not to be confused with a 'royale w/ cheese'.

FWIW, I think bitcoin is here to stay. It's a hedge against currencies collapsing or hyperinflation or some other calamity. It's like gold with more upside. Of course if the world loses electricity your bitcoin would be hard to use.

Accumulations of bitcoin by large banks and ETFs have given it increasing stability and legitimacy.

I have followed it casually since 2010. It tends to shoot up and then go back down. But it never goes back down to below where it was before the shoot up.

Don't make a large 1 time purchase. Buy a little here and there on weakness as a hedge.

Had I followed thru with my plans to get a modest amount in 2011 I wouldn't be typing this from work, but instead from a yacht in Monte Carlo. It was $5 a coin!

RD2WINAGNBEAR86 said:

---

Fascinating to me how many reputable brokerage firms have fallen victim to the FOMO Crypto craziness. This could be financially devastating if they are wrong. Gonna be interesting.

---

They won't be the ones losing money...they're just making it even more available for those willing to do so in hopes of moon lambos to make it happen even easier...all while they make a management fee for enabling.

trey3216 said:

---

muddybrazos said:

---

RD2WINAGNBEAR86 said:

---

muddybrazos said:

---

RD2WINAGNBEAR86 said:

---

https://www.yahoo.com/finance/news/bitcoins-market-cap-eclipse-16t-150831501.html

Time to bet the farm! LOL!!!

---

Going higher soon. I bet we see a move up towards around 90k in the next month. I bet btc ends April slightly down since its in a consolidation range but over the next 6-8 months its going parabolic.

---

Not sure about the "going parabolic" part, but I wish you well. You can still make a chunk of money if you get out in time. Like Kenny Rogers sang, "You gotta know when to hold 'em, know when to fold 'em!".

Good luck muddy.

---

The Psychology of a Market Cycle: pic.twitter.com/c9AAJSuIwl

— Matt Allen (@investmattallen) July 3, 2023

I dont know if you have seen this before but bitcoin typically follows this to a T. We are between optimism and belief right now.

---

When I see people who know nothing about markets making facebook posts about "flag/pennant" patterns in alt-coins...I know the ride is about to stop.

---

I remember people telling me how much they were up on Doge last cycle and I told them if they had a profit then go ahead and take it bc it was gonna crash after the Elon hype. It pretty much crashed right after Elon was on SNL. When random people start asking me about alts I take that as a sell signal.

trey3216 said:

---

RD2WINAGNBEAR86 said:

---

Fascinating to me how many reputable brokerage firms have fallen victim to the FOMO Crypto craziness. This could be financially devastating if they are wrong. Gonna be interesting.

---

They won't be the ones losing money...they're just making it even more available for those willing to do so in hopes of moon lambos to make it happen even easier...all while they make a management fee for enabling.

---

Agree with you Trey. The big firms will make money just like the bookies in Vegas. They will get "the juice" whether it is a winning or losing bet.

I do have to think in the event of a Crypto collapse that the enablers will suffer some damage to their reputations. Gonna be interesting for sure.

RD2WINAGNBEAR86 said:

---

trey3216 said:

---

RD2WINAGNBEAR86 said:

---

Fascinating to me how many reputable brokerage firms have fallen victim to the FOMO Crypto craziness. This could be financially devastating if they are wrong. Gonna be interesting.

---

They won't be the ones losing money...they're just making it even more available for those willing to do so in hopes of moon lambos to make it happen even easier...all while they make a management fee for enabling.

---

Agree with you Trey. The big firms will make money just like the bookies in Vegas. They will get "the juice" whether it is a winning or losing bet.

I do have to think in the event of a Crypto collapse that the enablers will suffer some damage to their reputations. Gonna be interesting for sure.

---

Their answer to this concern....

I worry long term about the convergence of AI and quantum computers and the ability to brute force hashing and integer cryptography. Could it also corrupt block chains?

BearFan33 said:

---

FWIW, I think bitcoin is here to stay. It's a hedge against currencies collapsing or hyperinflation or some other calamity. It's like gold with more upside. Of course if the world loses electricity your bitcoin would be hard to use.

Accumulations of bitcoin by large banks and ETFs have given it increasing stability and legitimacy.

I have followed it casually since 2010. It tends to shoot up and then go back down. But it never goes back down to below where it was before the shoot up.

Don't make a large 1 time purchase. Buy a little here and there on weakness as a hedge.

Had I followed thru with my plans to get a modest amount in 2011 I wouldn't be typing this from work, but instead from a yacht in Monte Carlo. It was $5 a coin!

---

The biggest problem right now is that it's become strikingly correlated with the equity markets. Human nature/emotion still takes over at some point.

trey3216 said:

---

BearFan33 said:

---

FWIW, I think bitcoin is here to stay. It's a hedge against currencies collapsing or hyperinflation or some other calamity. It's like gold with more upside. Of course if the world loses electricity your bitcoin would be hard to use.

Accumulations of bitcoin by large banks and ETFs have given it increasing stability and legitimacy.

I have followed it casually since 2010. It tends to shoot up and then go back down. But it never goes back down to below where it was before the shoot up.

Don't make a large 1 time purchase. Buy a little here and there on weakness as a hedge.

Had I followed thru with my plans to get a modest amount in 2011 I wouldn't be typing this from work, but instead from a yacht in Monte Carlo. It was $5 a coin!

---

The biggest problem right now is that it's become strikingly correlated with the equity markets. Human nature/emotion still takes over at some point.

---

I've noticed that too. But that has been more of a recent phenomenon. It might continue for sure.

I figured bitcoin would be a great hedge for inflation but that hasn't worked exactly that way so far. That might be because they are still mining some coin. I dont know.

There is no doubt that the value of bitcoin is based on what people are willing to pay for it. But the more mainstream it becomes, the more value it seems to have. I suppose all countries could outlaw it and it would tank.

As far as the other cryto, I own some ethereum and just a very small amount of meme coins. If the later goes up , I usually take profits and roll it into bitcoin. The other crypto is too fad like for me to embrace.

Nowadays its easy to stake bitcoin, ethereum and a few other coins and get a modest return on them.

The one thing that bothers me a bit about crypto is in times of geopolitical uncertainty it seems to act more like the NASDAQ than Gold. I'm going to have to pull and overlay charts of BTC vs the index and the metal.

I've never eaten Billy Paultz
Nor do I care to do so
A meat long stringy and tough
Is best prepared -
... en estilo churrasco.

- KKM

BID.

Should she get a divorce? pic.twitter.com/Sw7JaU18EX

— Clarity Crypto (@clearlydegen) December 8, 2024

BREAKING: Fartcoin's market cap is now greater than 38% of all American publicly-traded companies. pic.twitter.com/obLQK8LNTe

— Hedgeye (@Hedgeye) December 12, 2024