When it gets back to a dollar I might buy one just for posterity

....or it could continue down. Save your money by selling instead.

Like I said, an echo chamber.

Its not just greenpeace. Basically anyone who knows how much power is wasted by mining btc would agree. This forum is a bit of an echo chamber though so doubt my option will hold much sway.

It's banned to protect idiots and to stop wasting electricity.

There is no doubt there is a recession coming. Shares are down 20% or so from their highs of 6 months ago.

The 20% fall is a good indicator of the average sentiment is. i.e. People expect businesses to make 20% less profit or so due to inflationary pressures or whatever and so the share prices fall.

Remember, most shares pay a dividend, so a share is always going to have people wanting to buy it if the price is right if they believe that they will get a return on their investment.

Problem with cryptos is there is no fundamental value, just that you might sell it to someone else for more later. Hence bitcoin went from 1 cent to $70k while shares maybe doubled over the same period.

So what is the fundamental support for bitcoin? There isn't one. Get out while you can, people are selling because they need the money, there will be more distressed sellers until this recession is over. Do not think this is a buying opportunity, it isn't.

There is an infinite supply of cryptos, btc is just one tulip.

So bitcoin buys about 3 pizzas every year.

Visa must be getting very worried

Yeah, but there's not so many on here these days is there?

You are correct, tulips do have some value if you want something pretty in your garden. BTC doesn't, come back in 10 years and see if I'm right

Sounds like BTC is exactly like Tulips

One tulip is still worth 1 tulip. Good job I didn't sell at the peak and buy a house

It's the same as ethereum and dogecoin.

Not sure if its more or less than an NFT

Businesses want to be seen as green these days.

Since the average transaction size of say $50 uses about $1500 of electricity in bitcoin who would want to be seen using it.

Its unsustainable and government will regulate on this at some point.

Some people believe in God
Some people believe 911 was caused by the US Government
Some people believe the earth if flat
Some people believe Ethereum is awesome
Some people believe Tether is not a scan
Some people believe Bitcoin is going to take over the world

Fact is, humans are extremely gullible, make sure you are correct about your own beliefs before criticising others.

But, I doubt most of you reading this are capable of that as you are already in your own cult.

https://www.theregister.com/2021/11/05/digital_yuan_140m_wallets/

You lot won't like this, but here is a digital currency that is actually used to buy things. Something that bitcoin has failed to do in 10 years.

The writing is on the wall.

If you spend $99 dollars and get $100 back then its worth mining.
So generally speaking, the amount of money wasted mining bitcoin is roughly equivalent to the amount of coins generated by mining.
This actually puts a cap on the value of bitcoin which is why its never going to get to a million like some people claim

Bitcoin is like god, made up
Gold is real.

Less than a tulip

Bitcoin is as real as god