RE: 12/4/2017 The Market View and Trading Outlook
Hi @pawsdog,
The comments I made yesterday were really from a long -term holder point of view for Bitcoin. Like the comments you made about ETH in this article.. because you think it should reach $1000 a coin in the longer term, the point I was trying to make is that there shouldn't be any significant difference purchasing ETH at $459 or say $500... you'd still effectively double your money.
I personally think that Bitcoin might be in the same boat, and if we disagree on this, that's totally fine. Bitcoin has the brand recognition, and while it is slow, expensive and environmentally unsound, I think it will be developed further to work these issues out.
That said... I would never invest in any crypto more than I can afford to completely lose... if I go down with Bitcoin, that's the price I pay for something that could potentially be worth, say $40,000 a coin in the next couple of years. Or $0. That's the risk.
Hope that all makes sense... again, not trying to argue or anything, just explain the point I was trying to make yesterday. I did love the gifs you posted though...
No no argument to be had.. though I would take the $450 ETH which is 9 percent cheaper than the $500 or $9000 on a $100,000 trade. I'm a buy low, sell high, rebuy low type. Instead of taking the long road up 50 percent, I'll catch the many 5 or 10 percent dips along the way and when we finally get to the 50 in reality I am at 100 or better; although likely 75..
In regards to the environment, the amount of power BTC uses is so negligible compared to the sum total of power used globally. I think one article put the total mining power consumption less than the sum total of all devices on standby in the US. Which if you read my previous article; specifically the comments section does not matter. As I am concerned with power consumption as a relative expense in regards to the businesses that bear that expense.. The miners.. I believe the blockchain will survive, I also see that like E-gold the original crypto the gov will step on it. According banks and those with Trillions to burn in order to get the W will begin earnest effort to bring the power of the blockchain under their control.
https://steemit.com/bitcoin/@pawsdog/is-bitcoin-really-decentralized-or-are-we-being-led-like-lambs-to-the-slaughter
https://steemit.com/bitcoin/@pawsdog/need-mathematical-help-mining-costs
https://steemit.com/bitcoin/@pawsdog/could-the-us-ban-bitcoin-trump-administration-considering-btc-regulation
https://steemit.com/bitcoin/@pawsdog/wtf-blockchains-will-ultimately-be-privately-managed-by-enterprises