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Started by Sam, December 03, 2018, 09:25:33 PM
Quote from: Tony on December 04, 2018, 11:01:08 AMI still think the bitcoin and the crypto market is going lower. I expect Crypto hedge funds to be closing up shop by years end being forced to sell. Still seems like a majority of the cryptocurrencies are useless or scams. I think a lot of those need to get flushed out of the ecosystem by dropping to close to 0 before the remaining cryptos with solid use cases can start rebounding. I've also heard that it costs the majority of bitcoin miners $2500-3000 to acquire 1 btc. That could have negative implications if btc keeps dropping. So I wouldn't be surprised to see the bear market continue for anywhere between a couple more months to a year. I do think btc specifically has real use cases and is a great investment long term at these lower prices (if your willing to lose everything you put into it). Personally I'll wait till price hits 3k and below for the reasons I already stated then start buying.
QuoteWouldn't the cost to mine Bitcoin at $2,500 - $3,000 essentially put a floor on Bitcoin's price?It's look building cost for housing. Can't sell below building cost or else no profits.
QuoteWhat about ETH? It has smart contracts making it suitable for interesting projects based on blockchain. Doesn't it make it more valuable i BTC?