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Thread: Who buys Bitcoin

  1. #51

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    Quote Originally Posted by everything1 View Post
    I see THETA is flying, up 28% over the last 24 hours, and it's in the top ten. Here is a recent news piece on it.

    https://stockhead.com.au/news/theta-...ent-into-1-4m/
    i bot theta for 22-25 cents but sold them too soon

  2. #52

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    After a bitcoin crackdown, China now calls it an 'investment alternative' in a significant shift in tone after a crackdown on cryptocurrency issuance and trading nearly four years ago.

    https://www.msn.com/en-ca/money/mark...?ocid=msedgdhp

  3. #53

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    In response to the Tesla Bitcoin sale accusations, Elon Musk admits he bought Bitcoin for personal holdings and not only Tesla.

    .....

    Tesla’s profits from Bitcoin was $101 million on an investment of $1 billion a couple of months ago. Zachary Kirkhorn, Chief Financial Officer of Tesla, reiterated Tesla’s stand on Bitcoin on an earnings call. He said that Tesla believes in the long-term value of Bitcoin.



    https://hashant.com/elon-musk-admits...nJgnMoJd4Yfs08
    No his mind is not for rent
    To any god or government
    Always hopeful, yet discontent
    He knows changes aren't permanent
    But change is

  4. #54

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    Quote Originally Posted by The Sage View Post
    In response to the Tesla Bitcoin sale accusations, Elon Musk admits he bought Bitcoin for personal holdings and not only Tesla.

    .....

    Tesla’s profits from Bitcoin was $101 million on an investment of $1 billion a couple of months ago. Zachary Kirkhorn, Chief Financial Officer of Tesla, reiterated Tesla’s stand on Bitcoin on an earnings call. He said that Tesla believes in the long-term value of Bitcoin.



    https://hashant.com/elon-musk-admits...nJgnMoJd4Yfs08
    i believe tesla sold some bitcoin to test and prove the liquidity of btc, and that btc is good as fiat, and holding btc in tesla balance sheet is validated. I wouldn't even doubt if elon musk come up with a tesla coin/token or even elevate dogecoin in usage in the future.

  5. #55

  6. #56

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    Banking system uses way more energy than bitcoin.
    Behind banking is gold mining.
    https://technologymanias.com/2021/05...rch-shows.html



    Not included in banking is military forces that backing the dollars
    Not included in gold is energy to refine it to >.995 and transporting gold around.
    Last edited by yellowsnow; 05-16-2021 at 10:32 PM.

  7. #57

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    Quote Originally Posted by yellowsnow View Post
    Banking system uses way more energy than bitcoin.
    Behind banking is gold mining.
    https://technologymanias.com/2021/05...rch-shows.html



    Not included in banking is military forces that backing the dollars
    Not included in gold is energy to refine it to >.995 and transporting gold around.
    I would not call that "way more" especially when you consider how much real human economy, that of commerce and purchase of everyday needs of the common person, involves the "banking system". With bitcoin, I'm rather supervised just how much energy creation of mere digits used by a very small fraction of humanity requires. At least with gold, we have a real product used in industry, art (jewelry), and finance (real money). Sure, some people will get wealthy from bitcoin and other cyber. For me, the hope of riches, like playing the lotto, is not enough get me to participate. Needs to make sense to me, and bitcoin, even fiat, simply does not, and least not in the sense of something I find good for humanity, what I want to be part of.
    Last edited by motocat; 05-17-2021 at 03:23 PM.
    “Of all the contrivances for cheating the laboring class of mankind, none has been more effective than that which deludes them with paper money.”Daniel Webster (1782-1852)

  8. #58

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    Quote Originally Posted by motocat View Post
    I would not call that "way more" especially when you consider how much real human economy, that of commerce and purchase of everyday needs of the common person, involves the "banking system". I'm rather supervised just how much energy creation of mere digits used by a very small fraction of humanity requires. At least with gold, we have a real product used in industry, art (jewelry), and finance (real money). Sure, some people will get wealthy from bitcoin and other cyber. For me, the hope of riches, like playing the lotto, is not enough get me to participate. Needs to make sense to me, and bitcoin, even fiat, simply does not, and least not in the sense of something I find good for humanity, what I want to be part of.
    you should do some more research before making postulated claims.


    In 2019, $135 million spent on merchant using bitcoin from one exchange, Coinbase, alone. Since 2019, coinbase account holder shot up from 13 to 56 million accounts. Of course not all accounts are active. So my current and conservative estimate is maybe 2 x 135 million$ in daily transaction from coinbase alone.

    The Bitcoin network processes about 300,000 transactions per day. This number is deceiving, since one transaction can have multiple recipients.

    There are only between 400,000 and 800,000 active addresses per day. This means there are, likely, 300,000 - 500,000 unique users either sending or receiving Bitcoin per day.


    can you provide us with data on number of people using gold for commerce to support your claim that more people using gold than btc?
    Stop using gold jewelery as claim of people transacting commerce with gold, wearing gold jewelery is not a commercial activity. Actually i'm seeing less people wearing gold jewelery than ever before. Also, i see less gold use in electronic as cheaper replacement is used and/or more cheaper and efficient circuitry is designed to bypass gold. Your perception of gold usage are all based on old presumption. IE, please provide DATA to support your claims, not feeling.
    Last edited by yellowsnow; 05-17-2021 at 03:43 PM.

  9. #59

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    Quote Originally Posted by yellowsnow View Post
    you should do some more research before making postulated claims.


    In 2019, $135 million spent on merchant using bitcoin from one exchange, Coinbase, alone. Since 2019, coinbase account holder shot up from 13 to 35+ million account.

    The Bitcoin network processes about 300,000 transactions per day. This number is deceiving, since one transaction can have multiple recipients.

    There are only between 400,000 and 800,000 active addresses per day. This means there are, likely, 300,000 - 500,000 unique users either sending or receiving Bitcoin per day.


    can you provide us data on number of people using gold for commerce to support your claim that more people using gold than btc?
    Stop using gold jewelery as claim of people transacting commerce with gold, wearing gold jewelery is not a commercial activity.
    Over 120,000 people directly involved in gold jewelry business in metropolitan India. Estimated over 2 million people directly employed by physical gold business globally. Indirect gold market employment estimated at 20 million. Yet 300,000 transactions of bitcoin currently daily, come to half of global gold industry daily energy use which is employing 30 times as many people

    You need to redo your math. That is for gold alone not for financial banking system either.

  10. #60

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    Quote Originally Posted by shades View Post
    Over 120,000 people directly involved in gold jewelry business in metropolitan India. Estimated over 2 million people directly employed by physical gold business globally. Indirect gold market employment estimated at 20 million. Yet 300,000 transactions of bitcoin currently daily, come to half of global gold industry daily energy use which is employing 30 times as many people

    You need to redo your math. That is for gold alone not for financial banking system either.
    Hahahaha,
    more proof gold is way more energy intensive than btc. All those manpower related to gold sales force was excluded in the energy accounting where as energy consumed by crypto mining servers are ALL inclusive of ALL crypto activity. I bet there are double counting too since many miners mine alt coins but get COUNTED as bitcoin mining energy consumption.

    Since gold must be extracted and transacted using physical labor, gold will foster and sustain the slave - master relationship

    Wow, you are pulling number out of ...., like the indirect employment of 20 million.
    Can you read that coinbase alone, DIRECT account holders, is 56 million.
    I can pull number out too, how about ~200 million bitcoin account holders? And i'm not even counting people working in crypto industry, the chip makers like AMD, Nvidia and other mining equipment makers
    .
    India is a backward country. Gold is security for them as their road, rail, telecommunication, healthcare, basically all infrastructure are broken and can't get back up. There are indians** going into sewage tunnels scraping up sludge just to sell them to other sludge processor to get gold. Did u count those workers in the gold employment statistic?

    ** i couldn't find that video. What they do is going from street to street sewerage opening. One guy, wearing only a short, go down the sewer hole head first, with his buddy holding his feet at the ground level so he can be pulled back up the hole. Using his hands to scoop up sewer sludge, body covered with sludge. Then they bagged the sludge and sell them to sludge processor on the street, and take whatever price the sludge processor offer them. The sludge processor work near a river because of free source of water, it is not the source of the sludge.
    Last edited by yellowsnow; 05-17-2021 at 04:35 PM.

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