Let's all watch this after the number of people out this weekend.
It's lost value after hours, I'd expect this to head under $200 tomorrow.
It was $488 in December '24.
I dont entirely understand crypto - I get the basics but I don't get the weird nuances of it, but i do know it doesn't always behave in the same way as 'normal" currency so this is quite something if it's falling off a cliff because of trump.
this is one of the sillier aspect of all of this. The cryptobros think destroying the US dollar will help their play-currency, but what value crypto has COMES from its ability to be exchanged for dollars. So, by destroying the US economy, you wipe out crypto's value.
Crypto explained for dummies
An airline created a currency called frequent flier miles. It had value. Then that airline goes bankrupt, no longer redeeming those miles. That is crypto.
correction no it wont humanity has already rejected crypto the only peeps keeping it alive are the delusionall idiots spending all there money into it this was ment to fail since day 1 cause all those nft's are nothing but very shiny paperclips
PP wanted to make Canada the crypto capital of the world, wanted Canadians to be able to use crypto as an alternate currency. We can’t afford to have him in charge of, and negotiating Canada‘s economy.
132 MWh to service each Bitcoin per year. That's energy all up in smoke.
Isn't that enough?
BTW I hold all crypto in contempt. It's simply a technical manifestation of pure greed.
Where'd you get that number? Bitcoin mining is estimated to consume 60 - 125 TWh / year, which translates to 3.2 - 6.6 MWh / BTC / year. On top of that, more than 50% of Bitcoin mining is done with renewable energy. BTW, the global banking sector is estimated to consume 258.85 TWh annually.
OK, even accepting those figures, Bitcoin annual = 167.14 TWh. global banking sector = 258.85 TWh.
But that's one currency versus hundreds.
An apples vs apples comparison has 1 Bc transaction = 1.214.04 kWh, 100,000 Visa transactions = 148.63.
And that energy is bought in dollars and pounds.
If I were a criminal, lazy, and had no genuine skills of my own, I'd invest in crypto. All I'd have to do is get other low brow greedy cretins to invest and that would buoy up the whole thing, thus creating a long term opportunity for me to do absolutely nothing of real value.
Although the tanking of our economy is a disastrous consequence of Trump's ignorance of all things financial (hence his multi-bankruptcies), the cratering of cyber currency does bring a smile to my face.
That ship has sailed.
You're better off pushing for a new algorithm that doesn't use Proof of Work, like Ethereum did a couple years ago to address emissions.
That chart shows a drop of three and a half percent. Given that markets around the world are down about 10% so far, I'd say Bitcoin investors are probably feeling pretty good about things.
Babe crypto is meaningless if it's just pegged to market behavior. It's just another commodity then, and is not a safe haven from economic impacts. ;)
Comments
Even worse if you do in sterling.
So much for blow up the markets and big up crypto.
See above.
It's lost value after hours, I'd expect this to head under $200 tomorrow.
It was $488 in December '24.
It's in free fall atm.
Isn't it coming round to mining season - we will have to watch from behind cushions.
I'm thinking my 4.25% fixed ISA is looking marvellous 😂.
You surprise me.
They printed George Washington's face on a piece of paper and all the people chase it around.
Admittedly, that's a little devalued at the moment.
Aren't they grifting for some US Treasury Backed pump n dump?
Well, whatever
#Bitcoin isn’t volatile.
You’re just too zoomed in.
https://bsky.app/profile/mindmathmoney.com/post/3lmaoh2l2wc2e
An airline created a currency called frequent flier miles. It had value. Then that airline goes bankrupt, no longer redeeming those miles. That is crypto.
My dad used to do that for the Daily Mail in the 1940s -
I love a good pun, but am now using ChatGPT to get into graphics.
Vis a vis:
I love a good pun but am now using ChatGPT to get into graphics.
Is a vis:
Many have explained before this will go pop once it falls. One to watch as Bitcoin continues to fall.
Kinda a small mercy it's happening so soon, I was worried more would do the same idiotic thing leading to huge crash later.
That's almost 4%. The S&P 500 lost more than that in a single day last week.
Isn't that enough?
BTW I hold all crypto in contempt. It's simply a technical manifestation of pure greed.
But that's one currency versus hundreds.
An apples vs apples comparison has 1 Bc transaction = 1.214.04 kWh, 100,000 Visa transactions = 148.63.
And that energy is bought in dollars and pounds.
GRATE!
- Andrew Yang
Their economy was already held together by spit and spite and lies
Now the price of oil is cratering
Who would have guessed?
You're better off pushing for a new algorithm that doesn't use Proof of Work, like Ethereum did a couple years ago to address emissions.
But look at 5 years ;)
Resistance wins 👉 https://tr.ee/CPsD_dYzIr
Executive Orders Summary 👉 https://tr.ee/shcVxewg9F
#Revolution2025
That means crypto miners will go down even further tomorrow.
Like a tricked out tamagotchi that runs doom.
https://www.whitehouse.gov/fact-sheets/2025/03/fact-sheet-president-donald-j-trump-establishes-the-strategic-bitcoin-reserve-and-u-s-digital-asset-stockpile/