Bitcoin (BTC) Be Aware. Bears Bite. Bull Charge.

in #bitcoin4 years ago

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My prediction.

The bounce back was good to see but was simply caused by people going for the low prices. Only the big money can move this market and i still think its too high for that, plus there is alot of FUD floating around.

Last year the banks, wall street bought in, in march, for about $800, they dont want to be buying at $6000. This is only my opinion. Of course greed wanted to buy more on the last dip but i had a feeling that it wasn't the floor. The next one im ready for, if it comes then all good if not then im still happy, and more importantly i have a plan.

This year i am focusing 100% on Bitcoin. Yes i have other coins, but at this price Bitcoin has to be the main part of your portfolio. I have spent the last few weeks studing Bitcoin and i got my eyes open big time.

The amount of people that think its slow, old, out of touch. People saying other coins are better.

One, no other coin does as many transaction per day as Bitcoin.

Two, no other coin is accepted by 100s if not 1000s of suppliers.

Three, no other coin has an army of the best minds in the world working on it. The blockchain is the most secure and the best.

All information for entertainment purposes only

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But isn’t Bitcoin becoming more centralised because of big mining farms? How much do you think bitcoin will be by the end of the year? @martinf

Read this and some of your concerns should be answered: https://blog.sia.tech/choosing-asics-for-sia-b318505b5b51?gi=878b4fff29cb

Do you think PoW is better than PoS or DPoS in terms of security?

Use my site to learn about bitcoins: https://cryptoinformationgiver.xyz/bitcoin-lessons/

Currently POW is better.
While yes POW does seems like an energy waste it not. This work is necessary to make the chain secure. In POS, the stakers who owns 10% of the supply will mint 10% of the supply, and won't cost them anything much.
In, POW you have to battle against everything. You have to buy new miners to keep up, pay electricity, cool the machines, buy new ones.

Pos makes it so that 51 attacks are harder bc they are little their investments on the line. Pow is somewhat even harsher. Not only will their rewards lower if 51% attack done, the coin down=machines useless. This is amplified by asic machines which effectively locks the minier rig to mine only that coin.
Pow can be improved even more by making useful mining.

And also a key bonus :
Did you know that bitcoin pow is somewhat actually green:
https://steemit.com/mining/@sames/bitcoin-mining-pow-the-truth
Basically since most energy produced is usually lost( due to the fact energy can't be stored efficiently or storing energy costs more than making more energy itself ) bitcoin mining gives another use for this energy preventing it from being wasted and giving it value. It also will force miners to use renewable resource because nonrenewable resource will keep on getting expensive. In fact here are already solar bitcoin farms. Yes not the best but the stats saying bitcoin mining is completely wasteful is not true.

Personal i think 50-70k. Yes it is getting more centralized but i think in a way a global currency has to be. There only is 21 million in a world of 7 billion. The rarer they get the more they will be in value.

Trace Mayer has been an investor since 2010 predictions the following. He works on the 200 moving average. Follow him on twitter.

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