Bitcoin News and updates

[Son of Butch]

KC Chiefs Tight End Sean Culkin will be the first NFL player to receive his entire salary in bitcoin. Culkin requested his 920,000 salary in 2021 be paid in bitcoin.

NFL free agent Russell Okung launched Okung Ventures in April 2020
as of December he had used half of his 13 million dollar salary to buy bitcoin.

Bitcoin is currently 55,216 vs year ago 7735

April 15 year to date high $63,398
15 March 56,411
15 Feb 48,217
15 Jan 36,250

Dec 31st 28,987
Nov 1st 13,636
May 1st 8730

 

[Silver]

..... and I thought I missed the boat back in November

 

[Bigfoot]

Is the rise in bit coin value due to speculation, or true value in the currency?

 

[Son of Butch]

Both, but so is the stock market and the bond market too.

 

[shaz]

It's too early to tell but there may be a paradigm shift in the stock market from growth to value. If that's what is happening I can't see much appetite for some crap like bit coin.

 

[Brute 23]

Bitcoin going up is a direct indicator of the lack of confidence in the US dollar and the US govt.

 

[shaz]

Bitcoin going up is a direct indicator of the lack of confidence in the US dollar and the US govt.

You sure it's not just a hype-driven bandwagon?

 

[Brute 23]

You sure it's not just a hype-driven bandwagon?

With the stock market it can be both. Bitcoin is like gold IMO.

 

[greybeard]

Bitcoin going up is a direct indicator of the lack of confidence in the US dollar and the US govt.

Much more to it than that. Otherwise, all other 'havens' would have followed Bitcoin's rise.

One of the driver's of Bitcoin's rise is it's finite supply of 21 million. That doesn't mean it will for sure stop rising once (around year 2140) all 21 million are mined tho. In that aspect, BTC is not like gold or any other metal. No one knows how much gold there is in the world or in the Earth or when (or if) it will all be mined out. Bring in other world mining (in the future) and precious metal's quantity is an even larger unknown.

 

[Brute 23]

Much more to it than that. Otherwise, all other 'havens' would have followed Bitcoin's rise.
View attachment 4096
One of the driver's of Bitcoin's rise is it's finite supply of 21 million. That doesn't mean it will for sure stop rising once (around year 2140) all 21 million are mined tho. In that aspect, BTC is not like gold or any other metal. No one knows how much gold there is in the world or in the Earth or when (or if) it will all be mined out. Bring in other world mining (in the future) and precious metal's quantity is an even larger unknown.

No one knows when another fad will hit and bitcoin will go the way of myspace or blockbuster either.

 

[greybeard]

Dogecoin.............

Initially started as a joke in 2013, dogecoin is now the sixth-largest digital coin with a total market value of almost $42 billion, according to CoinGecko. It takes its name and branding from the "Doge" meme, which depicts a Shiba Inu dog alongside nonsensical phrases in multicolored text.

Each is worth about 31 cents USD today's market. There's about 120 billion of them so far.

 

[Son of Butch]

Bitcoin sales started in 2009 at 30 cents a coin

Jan 28 2011 5.24 million bitcoins (25%) released out of 21 million coins
March 18 exchange rate 1 bitcoin = 70 cents
March 22 video - What is bitcoin? goes viral with 8 million views
June 2 one bitcoin = $10

February 2013 bitcoin = $22
Forbes names bitcoin as the Best Investment for 2013
April 1st bitcoin = $100

2014 Bloomberg names Bitcoin as the Worst Investment of 2014

February 2015 bitcoin = $262
January 4 2016 bitcoin = 444
Jan 2 2017 bitcoin $985
Jan 1 2018 bc = 15,527
Jan 7 2019 bc = 3,804
Jan 6 2020 bc = 8,023
Jan 4 2021 bc = 37,341 and Bloomberg predicted 50,000 by end of year

Bitcoin is rated as 18 times more volatile than the U.S. dollar and 8 times more volatile than gold. When I posted this morning it was 55,216 now it's 54,692

 

[sim.-ang.king]

Thinks to crypto coin, I can't find a new GPU.

Oh, well. I survived the 2017 shortage too.

 

[greybeard]

April 15 year to date high $63,398

How much was $63,398 worth on that same date and day?

 

[Son of Butch]

How much was $63,398 worth on that same date and day?

I don't understand the question.

April 15 u.s. dollar was worth 83.6 cents vs the euro
So on April 15 $63,398 was worth $53,000.78 in euros
April 28 u.s. dollar was worth 82.7 cents vs the euro
Today $63,398 is worth $52,430 euros
net change in 13 days -$570.78


Jan 4 2021 gold 1,944 oz
April 15 gold 1,740 oz
April 28 gold 1,786 oz
13 days net change in gold up $46 oz


Jan 4 2021 bitcoin 37,341
April 15 bitcoin 63,398
April 28 bitcoin 55,261
13 days net change -8,137

Bitcoin is much more volatile than gold or us currency

 

[greybeard]

The world's largest single bitcoin mine is located in the little town of Rockdale Tx.
So is the 2nd largest.


"Based in the outskirts of Germany's financial hub of Frankfurt, Northern Data operates high-performance computing centers in areas with cheap electricity. Its largest facility, located in Rockdale, Texas, is currently the world's largest mine with a planned capacity of 1 gigawatt by year-end."

"

Howdy, y'alt

According to Bloomberg the world's largest singular Bitcoin mine is housed in Rockdale, Texas, and owned by German miner Northern Data. The claim of "world's largest" is contended by China's Bitmain, however, which built a mining center the size of three football fields in 2019, also in Rockdale."

 

[greybeard]

Massive Bitcoin mining farm in Texas to host Japan’s SBI Crypto - MMSteelClub

Northern Data AG and Whinstone US are on the verge of launching the first stage of an enormous Bitcoin mining farm in Texas. And now we know the first business partner that will make use of some of that extensive capacity. SBI Crypto, a wholly-owned subsidiary of Japanese financial services...

mmsteelclub.com

Riot Blockchain Acquires Whinstone’s Texas Bitcoin Mining Operations

The firm is acquiring the facility with the goal of “increasing the American footprint in the global bitcoin mining landscape.”

finance.yahoo.com

 

[Son of Butch]

update
Bitcoin May 7, 2021 57,694
Today May 22nd currently 37,743
down 35% in 15 days
May 26 is the super moon and by my 'timing' cycle a buy opportunity.

 

[Lee VanRoss]

I am probably hanging myself out to dry, but is Bitcoin something tangible that one can hold in the hand?
If it is a coin from what metal (s) is it derived?
Is it listed with the U S or any national Mint?
If not listed what is to prevent its duplication by any party with access to the metal and a hydraulic press?

 

[Brute 23]

Elon might have put the kiss of death on Bitcoin. I'm sure there is some thing going on behind the scenes there but it's not good for Bitcoin at the moment.

Word on the street is the people who are taking a bath on GME are selling off their Bitcoin to pay for the losses.