Current Events > So Bitcoin is just worth $40,000 now?

(+) Yeah! (+)

And it's never going to decrease to $1000 again?

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Never

Bitcoin will outlive the USD

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LivingLegend posted...

no

So it will decrease that much someday?

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It will crash again.

And it will peak again after that, too.

It's what Bitcoin does.

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Buy Ethereum

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Pitlord_Special posted...

Never

Bitcoin will outlive the USD

You mean until 2040 when all the mineable bitcoins have been mined. Whats the incentive for people to mine and provide the computational power for creating the blocks if there is no reward?

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lzual posted...

You mean until 2040 when all the mineable bitcoins have been mined. Whats the incentive for people to mine and provide the computational power for creating the blocks if there is no reward?

Are they not given some portion of the transaction fees? I always thought they were for some reason.

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Jabodie posted...

Are they not given some portion of the transaction fees? I always thought they were for some reason.

this is why i feel btc is more a store of value than having any practical applications. Eth has the practical applications.

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Jabodie posted...

Are they not given some portion of the transaction fees? I always thought they were for some reason.

They are given the whole transaction fee (assuming it's a direct wallet to wallet transaction - obviously if a 3rd party, such as an exchange, is involved, they may have their own fee). The idea is that by the time all the coins are mined, transaction fees alone will be enough to keep this worthwhile. I also believe transaction fees aren't a set property of Bitcoin in and of itself, but rather that miners can decide if fees are enough for them or not and choose not to process the transaction if not (of course, nothing stops a different miner from doing so). So it could also simply turn out that when the new coin supply runs out, transaction fees increase.

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But what about the Goodest boy coin?

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lzual posted...

You mean until 2040 when all the mineable bitcoins have been mined. Whats the incentive for people to mine and provide the computational power for creating the blocks if there is no reward?

Youre about 100 years off

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lzual posted...

this is why i feel btc is more a store of value than having any practical applications. Eth has the practical applications.

Yea like massive gas fees.

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EndOfDiscOne posted...

Youre about 100 years off

Really? If so I got some dodgy data then. Where'd you hear that? Even if it was 100 years that's not long in terms of a new currency.

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SergeantGander posted...

Yea like massive gas fees.

One option I've heard of is using Layer 2 solutions. Move the smaller transactions to L2 so that Layer 1 can be decongested and only be used when you need some extra bit of security for major transactions (or something).

The Stakenet stuff I've been seen on about has been implementing a lot of L2 tech and I reckon they're geniunely capable of solving the problem of high fees and slow transaction times once their DEX comes out and as it matures over time.

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If you guys are honestly searching for the next best thing DOT is it. ETH is good, but my god is the price ridiculous. I do believe ETH can still be worth close to 10k when more money dumps into crypto, but it's starting to get really hard to recommend at close to $2000.

Honestly, stay away from BTC. Treat it like it's gold, and nothing else. Outdated tech that people don't want to use to buy things. Extremely slow and lightning network has been a meme for 5 years now.

DOT is still relatively cheap and could help solve some of the issues going on with ETH. If ETH was BTC then DOT is ETH. It's hard to see any upside to DOT since it is already a top 5 coin, but since it is a top 5 coin I feel good in recommending it to people just wanting to find the "next best thing."

Edit- Also I feel a lot better recommending DOT now because it was just listed on Crypto.com which makes it a whole lot easier for buying with fiat. It's no coinbase, but it's the next best thing for Americans trying to get access a lot of different cryptos

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I'd say stick to BTC and ETH and invest maybe 10% in other alts.

I mined 1 Litecoin in 2013. And since then I held that Litecoin which was worth $40 at the time. However it was Bitcoin that took off and is leaving everything else in the dust.

It may be expensive but it's the original. Focus in BTC and ETH. Look into other Alts but dont get too caught up in them unless you know for a fact that it is a game changer. Then if you really believe it is then go hard into it even if others may not think it is worth anything

Dogecoin will surpass Bitcoin one day! Screencap this!

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Guess that depends on your philosophical view of what somethings worth.

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Experts say Dogecoin could hit $10 in 2022.

BTW, how do you tell Bitcoin is at a dip and safepoint to buy in?

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I think the floor will be around $34,000 from here on out until a higher floor is established.

Christian RULES posted...

Experts say Dogecoin could hit $10 in 2022.

really? Citation needed plox

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If DOGE reaches $10 in 2022 then Bitcoin is $10 Million in 2022

Makes me wish I bought it back in March 2020... but i was too worried about paying credit card debt.

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The demand is too high, don't believe it will dip below $25k tbh

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It will never not be not $40,000 (not).

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