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Is Crypto Dead?

Ron Texas

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This afternoon Bitcoin dove below $20,000 and Etherium is below $1,000. It's been a tough year for stocks (except oil companies) and bonds too. I don't think the world is falling apart, but most days it feels that way.

So, is crypto dead? It's probably below the level where mining it is profitable.
 

Timcognito

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1655592492564.png

As they say "a fool and his money are easily parted".
 

muslhead

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for now (nof forever) crypto = catching a falling knife. Not done declining
Nobody wanted to hear anay of these possibilities on the prior thread that was deleted.
IT will come back but not until the retail traders have sold their pile (or traded for a pack of gum). Welcome to the markets. Wash, rinse, repeat
 

Somafunk

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So, is crypto dead? It's probably below the level where mining it is profitable.

I doubt it had a genuine pulse to start with, and given the obscene amount of energy it takes to mine and verify the chain the plug should have been pulled long ago before ill informed non-savvy folk bought in to the pump n’ dump scheme with their savings
 

kthulhutu

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This afternoon Bitcoin dove below $20,000 and Etherium is below $1,000. It's been a tough year for stocks (except oil companies) and bonds too. I don't think the world is falling apart, but most days it feels that way.

So, is crypto dead? It's probably below the level where mining it is profitable.
Does a bear market mean said market is dead? Depends on who you ask.
 

Doodski

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Dang! I was thinking of flipping my ASUS RTX 3070Ti non low hash rate video card so I can upgrade to a better card. I can nix that plan now. It has no value to a miner if crypto is tanking.
 

Blumlein 88

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If it wasn't the tool and enabler of extortionists and hackers, I could care less. But given it's the life blood of a shit load of unsavory crimes I hope it goes back to a penny
Shiba Inu coin has this price currently.

$0.00000772

Buy yourself a $1000, and hope it makes it to a penny one day.
 

_thelaughingman

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Cryto is dead and let's not start an s***posting war about its merits and how the “man” aka government is out to keep us shackled.
 

AdamG

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Already turning this conversation political. Keep the conversation about digital currency and we’re fine. Start talking about politics and the thread will ultimately get closed. Please be civil and leave your politics at the door.
 

raif71

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Dang! I was thinking of flipping my ASUS RTX 3070Ti non low hash rate video card so I can upgrade to a better card. I can nix that plan now. It has no value to a miner if crypto is tanking.
I helped my son flipped his rtx 580 card for a price more than he bought, it few months back. Don't think we could get a good price for it now.
 
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Doodski

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I helped my son flipped his rtx 580 card for a price more than he bought it few months back. Don't think we could get a good price for it now.
Yes, I checked the prices of used video cards about 10 minutes ago and the prices have dropped I am going to guess ~20%-30% depending on who is selling what. Myself, I'll keep using mine and be happy. It's no slouch. As long as I get up to ~120-165 frames per second I'm happy at 1440p.
 

Old Listener

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I've been wondering about the crypto evangelists who were so positive about crypto in the previous thread. I'd like to hear from them about how they did financially, how they feel about crypto now and what they intend to do going forward.
 

jhaider

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I’ve yet to see a compelling case for how or even if cryptocurrencies add real economic value, and until/unless I do I’m hard pressed to consider it anything more than a 16th century Dutch tulip minus the 2 week splash of color.
 
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Fregly

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I don't understand the crypto currencies other than they seem mostly a speculative vehicle, and there really isn't much coin in bitcoin in the sense of real transactions. Is this incorrect?
 

b7676

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Trying to kill the "BTC" is good for the BTC. It has weaknesses.

Hoping for applied cryptography to die is like hoping for the end of free will or free association or the incompleteness theorem, the end of network effect. The end of locks and keys. The end of the begining of the end of infinite rehypothecation.

Immutable tally sticks which contain uncensorable hardest storage secured by the largest and reasonably anti-fragile computer.

Whales aren't really into the fork which is called BTC anymore.

Speculation was the first killer app regretably.

Layer One of BTC was not intended to be a fast settlement coin for micro transactions. This is being done in a second layer or by other coins. Getting the consensus layer hardened, how the chain recognizes/organizes the selection of the next correct solution or rare number across the network quickly enough was/is the biggest or most delicate challenge.
 
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