Yesterday Bitcoin jumped 17% during April Fools

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fkjannies

Guest
#23
Something tells me there's a huge hash power out there years ahead of us, adjusting its hash rate just enough to make the legit miners profit and not lose hope, but not enough to mine the majority of the coins.
Break away civilization
 
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fkjannies

Guest
#24
They adjust hash rate in a way it's profitable enough for people to believe in the ecosystem, if profitability is obviously in the red, people would call it a scam
 
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Null

Guest
#25
Imagine you're a value producer
You sell 💩 or do work, receive bitcoin, sell bitcoin, receive 💩 or work
It doesn't matter what the price of bitcoin is, you will end up with a pile of goods

But if you hold bitcoin for some time then sell bitcoin, yay you made money, no value is produced, but the money you make is from the loss of another person, one day you will lose money just like the person you made money from.

In the end there is a net loss for traders, because all the traders used electricity and food.
The only person that guarantees making money is the exchange, because they exchanged their service for a percentage of Bitcoins traded.