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  1. #1
    TheRealMakan's Avatar
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    Bitcoins going up..!

    I don't know if many of you have noticed this or there are threads on this already, but has anyone noticed the price of bitcoin is gradually increasing every single day?

    I bought $30~ of bitcoin last week and now it's worth over $40. I'll say for those with a lot of bitcoins, think about selling em this week. Pretty sexy prices are high.

    Anyone know why it's like this?
    nice.

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    Quote Originally Posted by TheRealMakan View Post
    I don't know if many of you have noticed this or there are threads on this already, but has anyone noticed the price of bitcoin is gradually increasing every single day?

    I bought $30~ of bitcoin last week and now it's worth over $40. I'll say for those with a lot of bitcoins, think about selling em this week. Pretty sexy prices are high.

    Anyone know why it's like this?
    My guess is as bitcoins become more popular everyday, there isn't an infinite amount of them, theres 21 million maximum and as of February 15.2 million are already mined

  4. #4
    𝕡𝕠𝕔𝕜𝕖𝕥𝕤 𝕤𝕠 𝕗𝕒𝕥
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    It's been going up for the last month or so, not too long ago it was $350, now it's near $700 a bitcoin. Next month the mining reward cuts in half.



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    TheRealMakan's Avatar
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    Quote Originally Posted by arunforce View Post
    It's been going up for the last month or so, not too long ago it was $350, now it's near $700 a bitcoin. Next month the mining reward cuts in half.
    It gone up almost $80~ in the past 3 days. Lot's of people mining these days?
    nice.

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    Bitcoins are a terrible way to make money if you're just going to buy and sell lmao imagine doing it with foreign currency exchange, it's basically the same. I'm no bitcoin expert, but I've probably bought/spent over $5000 worth of bitcoins on darknet marketplaces for the past 4 years, and from my rudimentary understanding, the original vision for bitcoin to takeover is now all but dead, lead by a divided and uncoordinated leadership.

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    Except it to go up and up until the 31st of this month (I believe). Then except the biggest drop. Bitcoin is going to be halved on the 31st meaning that miners get paid half of what they get paid now, so the currency will basically drop due to the fact miners will stop because mining cost and what they get paid will not be worth it. So then transactions will slow down, currency will go down

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    Medium is cancer, but this article focuses heavily on what I was referring to.

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    Quote Originally Posted by Nik View Post
    Except it to go up and up until the 31st of this month (I believe). Then except the biggest drop. Bitcoin is going to be halved on the 31st meaning that miners get paid half of what they get paid now, so the currency will basically drop due to the fact miners will stop because mining cost and what they get paid will not be worth it. So then transactions will slow down, currency will go down
    New currency doesn't drive the market, existing ones do. With less being added, they become more scarce, and therefore their value goes up.



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    Quote Originally Posted by arunforce View Post


    New currency doesn't drive the market, existing ones do. With less being added, they become more scarce, and therefore their value goes up.
    Less miners = less transactions = less people using it because of long transaction waits = less demand
    I think after the halving less people will use it, value will go down.

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    Quote Originally Posted by Nik View Post
    Except it to go up and up until the 31st of this month (I believe). Then except the biggest drop. Bitcoin is going to be halved on the 31st meaning that miners get paid half of what they get paid now, so the currency will basically drop due to the fact miners will stop because mining cost and what they get paid will not be worth it. So then transactions will slow down, currency will go down
    That is when I swoop in and buy big then wait however long it takes for the rise again and sell bigger
    NightOwl


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    It'll crash soon



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    I cashed out my Btc for now cause it's gonna drop

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    Quote Originally Posted by TheMostHated View Post
    Bitcoins are a terrible way to make money if you're just going to buy and sell lmao imagine doing it with foreign currency exchange, it's basically the same. I'm no bitcoin expert, but I've probably bought/spent over $5000 worth of bitcoins on darknet marketplaces for the past 4 years, and from my rudimentary understanding, the original vision for bitcoin to takeover is now all but dead, lead by a divided and uncoordinated leadership.
    But the thing is Bitcoin drops and rises at very high rates. On MPGH it seems to be quite a decent deal due to the fact of no charging back and that stuff. I don't think Bitcoin will takeover, there is almost no chance at it doing that. It's just good for some online places that actually use it. Honestly it would be great just to buy $300 of it when it drops, save it until moments like this. Easy $400 profit.
    nice.

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    Quote Originally Posted by Nik View Post


    Less miners = less transactions = less people using it because of long transaction waits = less demand
    I think after the halving less people will use it, value will go down.
    what makes you think that there will be less miners or less people using btc after the halving?

    You really think more people are going to stop than to start/increase mining? the answer is no. The reason is because less reward/block = less supply = increase in price. btc will never go down. you know why? because people from around the world rely on it instead of their local currency. if you look at the chinese for example, they are still buying and they play a big role in the btc economy. do you really think that the chinese are just going to give up btc after the halving? no. why? because they rely on it more than they do their native currency. btc will forever be increasing in value because of the worldwide use and reliability of btc.

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