BTC is going down

Imagine buying into a waterfall formation.

5k soon

Attached: Screenshot_20200511-221423_TradingView.jpg (1440x2960, 711.5K)

>5k soon
Way, way lower. We most likely retest the 3k very soon.

Shouldn't we expect a sort of heat death of the Bitcoin? Doesn't it require a Bitcoin to be mined for someone to make a transaction with Bitcoin? If the price is low enough, some people will stop mining, which makes transactions more costly and slower, which makes Bitcoin less valuable practically. Eventually, if the price stays low enough long enough, no one mines at all and Bitcoin is worthless. But for the price to rise, you need people willing to buy Bitcoin from the miners, and the longer Bitcoin stays low the less likely people will be willing to pay higher prices. So aren't we headed pretty immediately for a time when zero Bitcoin is mined, zero Bitcoin transactions occur, and Bitcoin is utterly worthless, as in $0.000000000000000000?

Can you Feel it

Attached: reke.png (489x368, 84.53K)

imagine thinking these 3 retards have it figured out

yup thats exactly what will happen. You better market sell all your bitcoins now before it's too late.

I have 17 btc and there is nothing that can happen to make me sell even 1 of them. And these retards on biz trading their 500$ blockfolios

I have 0 Bitcoin because it's a Ponzi scheme, and one way or another, it'll drop to $0 at some point. Set me straight on how mining costs don't kill it quickly, though.

do your own research buddy i'm not spoon-feeding you. Now is the time to buy and hold

Do you have children? If you neither bequeath them to children for them to sell nor sell them to buy something useful, then they are in fact worth nothing.

You suck at conning people. You're supposed to be blathering on at length about how this Ponzi scheme isn't really a Ponzi scheme and has all kinds of Rube Goldberg mechanisms imparting it value to get people to buy your Bitcoin before the inevitable crash.

It's because he's from Retarddit

I mean I obviously will sell them when animals come back into the market and pump it to ungodly levels, then ill rebuy 10x more on the next bear

A million workers around the world toil to pay me dividends. Some day I'll use the dividends to buy things, and I'll leave the stock shares to my children, who will collect the dividends and buy useful things with them. You can't tell a similar story. You can only say that you spent hours every day chanting to yourself that some day Bitcoin would moon until it dropped to $0.

But please enlighten me on why it isn't obvious that Bitcoin grinds to a halt when no one can be found willing to mine after adequate new money fails to materialize at some point. Maybe the cost of mining can be reduced at will to as near to $0 as necessary to keep transactions rolling at literally any price? I thought the crypto bullshit kept getting harder because some primes kept getting larger or some shit, but that's based on not giving a shit about a Ponzi scheme and could well be wrong.

its really hard to get out of the BTC maximalist mindset it took me a long time to figure out you have to diversify

you dont deserve to be educated because you didnt bother to put in the basic research into btc, but there is a thing called difficulty adjustment, if it becomes unprofitable for big companies to mine then difficulty will go down and regular users will mine again.The difference between us is that I dont care if you buy btc, stick to your stocks then and best of luck.

BTC maximalism is literally a religion I'm not kidding

If the price of bitcoin drops, miners drop out, mining equipment gets less expensive, new miners get in, hash rate goes up, price goes up, rinse and repeat.

This

Attached: 1589223937567.png (385x323, 18.75K)

Price only goes up if people will buy at that price. Just because cost to mine per Bitcoin goes up doesn't mean price will. Is there no floor on the cost to mine a Bitcoin? Can it drop to $0.01, for example?

Bitcoin is traded 24/7, it has no gaps

CME bitcoin futures, retard. Have you been living under a rock?

Attached: IMG_20200508_004523.jpg (1080x1590, 276.18K)

>MUH GAAAAAPSSSS

Attached: 1588311713373.jpg (600x600, 25.23K)

It's not just Bitcoin. Fundamentally, for all crypto, we're talking about people paying a higher price for something from someone who paid a lower price and expecting someone else to come along and pay a still higher price, perpetually. When we expect that of stocks it's based on rising earnings. Maybe revenue flattens and the company starts bumping up dividends since they have nothing else to do with the money. With crypto it's 100% based on being able to suck new blood forever. Totally irrational (unless you're one of the ones who perceives himself as scamming others, in which case there's a degree of rationality to it).

Again, the price to mine is related to the price of btc itself. if the price to mine goes down enough, more miners jump in, which actually is good for the network and improves it's security. Keep in mind, Bitcoin is the most secure network to ever exist, that in an of itself is very valuable, sources of truth are very, very valuable.

Is there a floor on the cost to mine?

I lost faith that it will ever hit 1 trillion market cap and 70% dominance but I still hold a couple
theres no reason other projects couldn't adopted over it

yup exactly and im convinced the prices are almost completely rigged im sure theres some sentiment involved but im not trolling this rich guy I know told me he pays 11k a year to get text notification when its its getting dumped cuz some canadian dude holds so much he can crash the price on most exchanges in collaboration with some other people,

Pathetic gap. Essentially not one. Btc will hit 3000 or under anyway.

Wow, no one wants to answer a simple yes or no question (ideally accompanied by a single integer to elaborate). I know what keeps crypto scammers up at night.

Stick to your stocks faggot, nobody here wants to spoon feed you shit.

You are a bit stupid and retarded. It is ok, a new normal.

How the fuck the cost of mining could go down when difficulty is constantly increasing?

Oh, yes, cheaper hardware and cheaper power? But hardware is already peaked and power will never be cheap.

Now what, nigger?

bitcoin maximalists who only hold BTC deserve to be poor for not hedging risk that being said im sure this isn't the end for it yet if it hits 30k I might sell one

>Essentially not one.
Wrong. Trading bots "see" in black and white. It's 100% gap to the trading bots that run this market. Zig Forums autists can argue about it all day, but it's still a genuine gap, regardless of size. It will fill.

I still religiously hold them lmao even though majority of my money was made from other projects

OH NO A SELL OFF

> Best buy signal ever

Power certainly has the opportunity of getting cheaper down the road. What about solar power systems...running at optimal efficiency and the newest tech I don’t doubt power will be significantly cheaper in 5-10 years time. I’m not arguing on a pro bitcoin stance but more that power will most likely get cheaper in future due to tech and innovation.

Catch the falling knife, faggot lmao

The idea of power never being cheaper is an ignorant statement.

Depends on where you’re located. It’s looking like the floor is between 4.5k and 6.5k depending on what county or what part of the country you’re located in....as well as what equipment you are using to mine said coins.