Prices not going down??

[picklesandjesse]

Originally Posted by Adelie

You need to read a little history to understand the reference. In 1630s Netherlands there was a tulip bulb mania. It is considered the first recorded speculative bubble.

I believe that was a joke about the black tulip......

[pt49]

Originally Posted by Wotname

OK, what is the percentage profit (using the above figures)?
Put another way, currently at what BT price does the current mining technology become unprofitable?

Presumably mining costs increase as the remaining number of un-mined BC decreases (??)

Profitability depends mainly on the cost of electricity... the approaching halvening does not appear to be dampening investment in mining ventures, with North America and Canada attracting investment in mining farms.

Rockdale TX could see the old dissused Alcoa Aluminium Smelter turned into a mining farm. It has a built in power plant and all the needed power supply lines in place already.

Washington State is attracting miners also... there are plenty of abandoned timber mill sites with abundant hydro-electric power plants just sitting there.

[Wotname]

Originally Posted by pt49

Profitability depends mainly on the cost of electricity... the approaching halvening does not appear to be dampening investment in mining ventures, with North America and Canada attracting investment in mining farms.

Rockdale TX could see the old dissused Alcoa Aluminium Smelter turned into a mining farm. It has a built in power plant and all the needed power supply lines in place already.

Washington State is attracting miners also... there are plenty of abandoned timber mill sites with abundant hydro-electric power plants just sitting there.

So BC is now a eco-green-currency

[pt49]

Originally Posted by Wotname

So BC is now a eco-green-currency

Absolutely...
Here is a current article printed in Dec 4 months ago... a very interesting read.
https://bitcoinmagazine.com/articles...-the-new-world

[hpeer]

Originally Posted by GBR134

Off topic I know but - I’m a simple and poorly educated soul, I still can’t find anyone who can explain to me why a Bitcoin is worth more than a black tulip bulb!

Not off topic, something, a boat or a tulip, is only worth what someone else is willing to pay for it, when measured in terms of currency.

It’s value to you depends upon its utility to you. A gallon of water at home, no much. A gallon of water in a life raft, priceless.

Since most of us have our basic functions well attended we look for other things to add value. Being imaginative we can come up with all kinds of imaginary value, we imagine other folks will value.

Black tulips, Louisiana swamp, Florida swamp, dot com stock, baskets of junk mortgage bonds, but coins, boats.

[valhalla360]

Originally Posted by timb7734

On the other side boat values will be flatter relative to inflation. Remember the 15k house that is now 450k? The 4,500 Chevy now 60K? The 200k boat that is now 2.5M!

Yeah but you are talking 40yrs of inflation to get those numbers.

A $4.5k MSRP 3/4ton Chevy would have been sold in the late 70's.

I suspect if you wait 40yrs, any price impact from the virus will be long gone.

[pt49]

Originally Posted by hpeer

Not off topic, something, a boat or a tulip, is only worth what someone else is willing to pay for it, when measured in terms of currency.

It’s value to you depends upon its utility to you. A gallon of water at home, no much. A gallon of water in a life raft, priceless.

Since most of us have our basic functions well attended we look for other things to add value. Being imaginative we can come up with all kinds of imaginary value, we imagine other folks will value.

Black tulips, Louisiana swamp, Florida swamp, dot com stock, baskets of junk mortgage bonds, but coins, boats.

My question for anyone to ponder on is this...

What are investors more likely to put their money into in the current environment?

1... A brand new startup bitcoin farm in America?
2... A brand new boat building factory in America?

[Hartings]

Originally Posted by pt49

My question for anyone to ponder on is this...

What are investors more likely to put their money into in the current environment?

1... A brand new startup bitcoin farm in America?
2... A brand new boat building factory in America?

The obvious, and slightly trite, answer, is neither.

[pt49]

Originally Posted by Hartings

The obvious, and slightly trite, answer, is neither.

You did no research... obviously.

[hpeer]

Originally Posted by pt49

My question for anyone to ponder on is this...

What are investors more likely to put their money into in the current environment?

1... A brand new startup bitcoin farm in America?
2... A brand new boat building factory in America?

Obviously the answer would only by peering into the collective mind.

Ask again in a year or two.

Which illustrates my point, it’s all about human perception, which is far from rational.

And that’s the basis of investing. Not what makes sense but what people do. Buy TP for instance.

[pt49]

Originally Posted by hpeer

Obviously the answer would only by peering into the collective mind.



And that’s the basis of investing. Not what makes sense but what people do. Buy TP for instance.

That's a good answer, old maxim is "Buy when there's blood in the streets"

That saying comes from the Great Depression when stock brokers, bankers and investers were jumping out of high buildings trying to emulate Superman.
All they did was leave a red patch on the street.

We are not there yet, but it's coming.

[geoleo]

WOW -I started a thread that has had over 2400 views and hundreds of comments----maybe I 'hit' the collective mind??

[pt49]

I think MOST prices will go down... boats, businesses, stocks, land, houses, yes and Bitcoin... initially.

As this economical depression develops there will be a desperate flight to cash.
People will sell everything that they can. Most middle class families can't put $1,000 together in a hurry even if they have a job... but without a job... ????

Sure I am an advocate for Bitcoin, but only because I know and understand it, but I will tell you that a crash is coming for Bitcoin also... but out of the ashes Crypto's and in particular Bitcoin will rise, and fast.

I sold 20% of my Bitcoin yesterday anticipating that I will be able to buy back in after the crash... but I still have 80% in the event it does not crash.

[geoleo]

OK! So when your remaining 80% crashes you will use the 20% money you have to buy back the 20% of 80% that is depleted -OR you will sell the depleted 80% to replenish the 20% you sold b before the 80% went way down????? ORRRRRRRRRR

[hpeer]

My thought is we will see a second bottom when the girls us hits India bar in a couple of weeks. My reasoning is that the collective mind will be very depressed by that situation, if it develops as I think it may, and that will depress stock prices.

I’m fairly terrible at this stuff but I keep on trying.