ATH

el_rico_pavo_real

Would literally not be surprised tbh. Might be an unpopular opinion, but I think we potentially see a new ATH and then all the lettuce handed Trump Pump traders panic bail and we go $60K-ish… but that’s just me.

LegitimateSorbett

Bitcoin does not need Trump, we have hit well past ATH without Trump, and Bitcoin will continue to break new ATH’s without Trump

MakeLTUGreatAgain

ETH didn’t reach their past ATH too, every coin eventually goes downwards against BTC

CointestMod

#Bitcoin Con-Arguments Below is an argument written by Nostalg33k which won 3rd place in the Bitcoin Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > # Bitcoin, could it be wrong. "Are we the bad guys ?" > > ​ > > In this small write up, I am going to delve into con-arguments against Bitcoin. Bitcoin is the flagship of cryptocurrencies but there are a lot of criticism that could be leveraged against Bitcoin. First of all, let's delve into a small presentation of Bitcoin. > > # Bitcoin: An introduction. > > Bitcoin is the biggst cryptocurrency. It was created by a mysterious figure. The creation of Bitcoin is a strange and mysterious mystery. No one knows who created Bitcoin. > > Bitcoin was started as a way to circumvent traditional banking. Bitcoin relies on blockchain technology. Blockchain can be seen as an open book allowing anyone to know where is each fraction of Bitcoin ever. > > This blockchain is maintained through computer power. In a vulgar way: Bitcoin is mined by solving math problems. The maths problem becomes harder when more people are mining so that mining takes a fixed amount of time according to a timeline known to everyone. In order to respect this timeline, mining rewards are halved every few years. > > Since anyone who wants to validate transactions is forced to complete a very hard math problem (which becomes harder the more people are mining), no one can cheat in new transactions. Also, every other miner has a copy of the blockchain. Through making sure that no entity has 50% of the mining, you can stop nefarious actors from changing the blockchain. > > This is using cryptographic technology that I don't yet understand but you can read more about it here: > > Bitcoin Wikipedia > > Without delving more into the tech side of bitcoin. Which can also be explained through youtube videos here: Bitcoin explained > > The Metrics of Bitcoin are currently: 22400$ Per coin for a Market cap of 430 Bilions and a daily volume of 19 Billions. Bitcoin was shortly valued at 69000 usd during the ATH. > > Now let's dive into what is making Bitcoin so bad. > > # Permissionless: A senseless destruction of world order. > > Bitcoin is a project existing in a very delicate world balanced by power structure. While we can be happy that the current top dog is the US (yes they are not perfect BUT they could be worse) we know that someone else could be on top. Despite that, we should strive to use the current US dominance to curb rogue states into the world order. > > The current war in Ukraine is a demonstration of the world order crumbling to maintain itself. I'd argue, the rise of cryptocurrencies may be a part of this crumbling. In fact, I'd go as far as to say that, Bitcoin replacing the US Dollar would usher a chaotic age of international relation. > > The world has shrank a lot since the rise of internet. The fact is that the stability of the world is much more precious than ever. Everyone can see what happens in any other country and how the supply chains which guarantee our comfort are of the utmost importance. YET, we are pushing forward a great disrupter of balance. > > Permissionless can help terrorists, permissionless can help crime. YES traditionnal banking is doing it already BUT I'd argue that the absence of regulator and watchdog to make the current system comply is not an argument in favor of a tech which will make regulation and surveillance harder. > > # Bitcoin: This MONEY Doesn't Work, This Money Doesn't WORK. > > Bitcoin is claiming to be a currency. A viable alternative to fiat money. But anyone with a neuron or two could realize that the fluctuation in the value of Bitcoin is crazy. Some pedentic nerd and bitcoin maximalist could argue that 1 BTC = 1 BTC BUT if you don't know how much you'll need to put food on the table then BTC is not working as a currency. Yes inflation is lowering the value of Fiat BUT fiat doesn't see wild swings of + or - 30 % in most economies. > > While not being really MONEY I'd argue that Bitcoin doesn't WORK. To work the economy needs money to move. 100$ could buy groceries then be used to pay the local brewery, the butcher and many more people before going back to a bank account. This movement has created economic vitality. Bitcoin, most of the time, is seen as an investment vehicle such as gold. I'd argue that these vehicle are not valuable for society since the freeze money in place. > > In a bank, your money is working. Instead of Bitcoin, people should be paid more by banks to put their money in investment portfolios since these provide the liquidity necessary to make the economy work. > > ​ > > # Bitcoin: A very big spending of energy. > > ​ > > Bitcoin is a project which is wasting a lot of ressource for something which is not making a lot of sense. While Bitcoin is using more and more green energy, I'd argue that it is still a big waste. Subsidies could prop up the green sector far better than the mining farms that go with windfarms. > > Seeing Bitcoin as one of the biggest leverage of the green sector is a non-sense. Optimization of the energy sector means that the variable production should allow to reduce the use of fossil energy. Not allow to waste energy in a senseless project. > > ​ > > # Conclusion: The harsh truth is, we may be the bad guys. > > Partaking in an economic sector which allows for a disruption of world order, which doesn't help the economy and which is wasting energy may not be beneficial. This is why Bitcoin should not be seen as a messiah of economic proportion but as something which should raise criticism and should be heavily regulated. > > Good luck in your investments. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/100p7u8/top_coins_bitcoin_conarguments_january_2023/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/1eca0ez/daily_crypto_discussion_july_26_2024_gmt0/).

Gzdu

Crazy we are only 5k away from ATH. This market moves so fast up and down

bobsagetslover420

if we don't break ATH in the next 24 minutes and 37 seconds, it's so over

nicog67

If we dont break ATH in the next hour, its over

OderWieOderWatJunge

Of course this prevents me from doing it. Way too complicated for most people (like myself). It keeps money from flowing in, that's why it won't ever see an ATH again

Idgaf115599

Solana / eth ratio at ATH. Solana needs to flip eth atleast once this cycle.

Objective_Digit

Bitcoin still hit a new ATH. I can't see it happening with ETH any time soon.

el_rico_pavo_real

Ultimately Bitcoin becomes more evenly distributed over time. It was not and cannot be pre-mined. So early adopters obtained their bitcoin fair and square, they took on risk so they are rewarded with the maximum gains. This also implies that many of them sold into price appreciation/liquidity, which further distributes coins amongst the market. There will always be a few whales who hodl, but they deserve their coins and wealth because they… well… they held. Imagine if you bought BTC at $0.01… you could buy thousands and thousands of BTC… but you would very likely sell at say $300? $1000? So to hold all the way to ATH’s shows real conviction and most people would simply not hold that kind of life changing wealth. Germany’s overhang recently, for example… they sold and the market absorbed the coins. This furthers the even distribution of BTC.

escodelrio

**Historical Bitcoin prices for today, July 26th:** 2024 - $67,419 2023 - $29,352 2022 - $21,249 2021 - $37,277 2020 - $9,933 2019 - $9,831 2018 - $7,937 2017 - $2,559 2016 - $654 2015 - $292 2014 - $596 2013 - $96 2012 - $8.9 2011 - $13.90 2010 - $0.10 **Additional Stats:** Bitcoin's current market cap is $1.33 trillion. Bitcoin's current block height is 854036; with the average block time for the last 7 days being 8.96 minutes. Bitcoin's current block reward is 3.125₿, which is worth $210,684 per block. The next Bitcoin halving is anticipated to happen between 23-Mar-2028 to 20-Apr-2028; the block reward will fall to 1.5625₿. There are currently 23,950 reachable Bitcoin nodes. Bitcoin's average daily hashrate for the last 7 days is 660 exahashes per second. Bitcoin's average daily trading volume for the last 7 days is 57,150 ₿. Bitcoin's average daily number of transactions for the last 7 days is 718,293. Bitcoin's average transaction fee for the last 7 days is 8.71 sats/VB, with the average fee's USD amount being $1.06. There are currently 19.73M ₿ in circulation, leaving 1.27M to be mined. There are currently 2.53M ₿ held by companies, governments, DeFi, and ETFs, representing 12.82% of circulating supply. There are currently 53,774,284 nonzero Bitcoin addresses that contain 185.40M UTXOs. Bitcoin's average daily price from 18-Jul-2010 to 26-Jul-2024 is $12,128. Bitcoin's average daily price for the year 2024 is $59,929. 1 US Dollar ($) currently equals: 1,483 satoshis; making 1 penny equal 14.83 sats. Bitcoin's minimum (closing) price for the year 2024 was $39,556.40 on 22-Jan-2024. Bitcoin's maximum (closing) price for the year 2024 was $73,066.30 on 13-Mar-2024. Bitcoin's minimum (intraday) price for the year 2024 was $38,546.90 on 23-Jan-2024. Bitcoin's maximum (intraday) price for the year 2024 was $73,740.90 on 14-Mar-2024. Bitcoin's largest daily decrease for the year 2024 was -$5,544.10 on 19-Mar-2024. Bitcoin's largest daily increase for the year 2024 was +$5,804.0 on 20-Mar-2024. Bitcoin's all-time high (intraday) was $73,740.90 on 14-Mar-2024. Bitcoin is down 8.57% from the ATH.

PirateSKB

>XRP and ADA are going to flip BTC and ETH But on what timeframe and why would they? >And most of all ERGO will moon to $150 Why would it suddenly moon to $150 while being down more than 95% from ATH? Also more importantly, how heavy are your bags? lol

PirateSKB

>XRP and ADA are going to flip BTC and ETH But on what timeframe and why would they? >And most of all ERGO will moon to $150 Why would it suddenly moon to $150 while being down more than 95% from ATH?

ResponsibilitySea327

Are you following the markets? The USD and the US stock market has been on fire compared to other currencies. Russia is having to effectively resort to camel trade and make deals with a hermit nation (North Korea). Their economy (GDP) shrunk, ruble sunk, their already low life-expectancy average sunk, and they lost access to most western goods (which the west DOES make and far better than Russia). Machinery, electronics, luxury goods, etc). And they will likely lose Kaliningrad to independence in a few years. Not to mention they sparked the growth of NATO. Their economy (which is now a war based economy making arms and tanks) will likely shrink again as more pipelines are finally being shut down (see EU/Hungary spat). Meanwhile, the USD is crushing it and the US had a ATH stock market. BRICS won't take off until Putin dies or he runs out of Russians to send to their death. India is doing well, but regretting their involvement with Russia now they are getting cut off from western defense technology. China is suffering domestically economically (although doing well with their African pseudo-colonialism). Now the broader Europe (and Japan) ***was*** struggling two years ago since they were cut off from oil/power, but other than a few nations still dependent on Russian oil, they are doing well now.

skeetskeetamirite

tomorrow we will; new ATH

bananastand512

BTC.D tops resulting in the final ATH before the bear but during this time, BTC price goes sideways for a while, people slowly start selling their BTC and money flows into Alts while dominance decreases. Bitcoin doesn't crash during this time because people are still buying while others are selling for Alts, then when Alt gains are topping out winter begins.

abesWaves

What is the implication for BTC, when alts run? Alts would not do well if BTC is in a continued correction. Or For alts to run, will BTC be at ranging near ATH? Or new ATHs?

wow247897

Two more days or this and my alts are down 99.99% from ATH… held some just for fun

OderWieOderWatJunge

Crypto is a short-lived business. I don't think they will ever reach the old ATH again

call-the-wizards

They are very delusional, but the 'new' ATH was four months ago. At what point does it stop being a new ATH and just becomes the last ATH

OMFGROFLMAO2

Doesn't make sense when markets are hitting ATH, USDEUR is up, USDJPY is up and USDGBP is up.

Beneficial_Hotel_818

thats what i was thinking. am i missing something or does the market not work in predictable cycles... The guy doesnt need to perfectly time the top but as long as the market drops 50-80% during the next bear cycle then its an easy potential 2x up to previous prices during the next bull market and then whatever ATH's it makes then on top of that.

call-the-wizards

If it keeps going sideways like this then in 2 months we'll be *down* over a 6-month period. Adjusted for inflation, the ATH of 2021 is still the highest BTC has ever been. BTC is still the best investment, but we haven't been in a bull market since April if we're being honest. I'll call it a bull market when we at least hit the 2021 ATH adjusted for inflation, which would be $80k.

seanhagg95

A 2-3x from old ATH to new ATH each cycle does get you there. I guess they are just looking at the ATH spread from 2017-2021 which was approximately a 3x. Bitcoin will become very boring after 1 mil. Each cycle going up less than a 2x eventually becoming fairly flat and boring. That is when it might be used as a currency.

LusikkaFeed

"we will could" I hate that typo i made there lol. Anyway! Meant to say there is a high possibility for a new ATH in August.

DBRiMatt

Even then, old alts probably won't make ATH while BTC will New alts could prove to be fun though!

escodelrio

**Historical Bitcoin prices for today, July 25th:** 2024 - $64,257 2023 - $29,229 2022 - $21,302 2021 - $35,391 2020 - $9,704 2019 - $9,945 2018 - $8,174 2017 - $2,583 2016 - $654 2015 - $289 2014 - $601 2013 - $97 2012 - $8.8 2011 - $14.10 2010 - $0.10 **Additional Stats:** Bitcoin's current market cap is $1.27 trillion. Bitcoin's current block height is 853373; with the average block time for the last 7 days being 9.29 minutes. Bitcoin's current block reward is 3.125₿, which is worth $200,803 per block. The next Bitcoin halving is anticipated to happen between 23-Mar-2028 to 20-Apr-2028; the block reward will fall to 1.5625₿. There are currently 23,974 reachable Bitcoin nodes. Bitcoin's average daily hashrate for the last 7 days is 638 exahashes per second. Bitcoin's average daily trading volume for the last 7 days is 58,594 ₿. Bitcoin's average daily number of transactions for the last 7 days is 679,130. Bitcoin's average transaction fee for the last 7 days is 8.96 sats/VB, with the average fee's USD amount being $1.13. There are currently 19.73M ₿ in circulation, leaving 1.27M to be mined. There are currently 2.53M ₿ held by companies, governments, DeFi, and ETFs, representing 12.82% of circulating supply. There are currently 53,734,141 nonzero Bitcoin addresses that contain 185.36M UTXOs. Bitcoin's average daily price from 18-Jul-2010 to 25-Jul-2024 is $12,117. Bitcoin's average daily price for the year 2024 is $59,886. 1 US Dollar ($) currently equals: 1,556 satoshis; making 1 penny equal 15.56 sats. Bitcoin's minimum (closing) price for the year 2024 was $39,556.40 on 22-Jan-2024. Bitcoin's maximum (closing) price for the year 2024 was $73,066.30 on 13-Mar-2024. Bitcoin's minimum (intraday) price for the year 2024 was $38,546.90 on 23-Jan-2024. Bitcoin's maximum (intraday) price for the year 2024 was $73,740.90 on 14-Mar-2024. Bitcoin's largest daily decrease for the year 2024 was -$5,544.10 on 19-Mar-2024. Bitcoin's largest daily increase for the year 2024 was +$5,804.0 on 20-Mar-2024. Bitcoin's all-time high (intraday) was $73,740.90 on 14-Mar-2024. Bitcoin is down 12.86% from the ATH.

CamOper

The best party about $HEGE really is the community! Were holding strong and will be at a new ATH within a week or two 🚀

Aerocryptic

Your alts won’t pump until btc has made a parabolic run way above its former ATH

CointestMod

#Ethereum Con-Arguments Below is an argument written by excalilbug which won 1st place in the Ethereum Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Disclaimer: I support ETH wholeheartedly but nonetheless I can see its flaws > > ​ > > * **Decentralized? Hmm** > > The main flaw of ETH is that it’s probably not as decentralized as many people think. This is due to two reasons: > > **1. 72 million ETH was premined and gifted to investors/founders** > > Before ETH was launched in 2014 its founders approached investors and promised them coins for backing the project. This way 72 million coins were sold/given to investors and founders which is much more than 50% of the circulating supply today! (circulating supply on 29.03.2023: [122 millions](https://www.coingecko.com/en/coins/ethereum)) > > Of course we can presume that some of the coins were sold throughout the years as ETH price went from ICO’s 0.31$ (sic!) to almost 5k dollars at ATH in 2021 (a modest 16,000+ x return of investment if you’re wondering). But what if Ethereum Foundation and vanilla investors who are close with them manipulated the market (which is very possible to do when you own such a high % of all coins) and sold tops and bought lows to own even more coins? > > This is obviously just a speculation but the initial premining of coins is a fact and everyone should be aware of this. It might make you look at the POW->POS switch form a different perspective knowing that PoS is very beneficial for those who already have many coins (the rich get richer) > > **2. 1/4 of nodes run on Amazon servers** > > If you go on this site: [https://aws.amazon.com/blockchain/](https://aws.amazon.com/blockchain/) you can see that Amazon boasts that 25% of ETH nodes run on their servers. I think 25% is a very significant number. Can Ethereum be a truly decentralized blockchain if so many nodes use Amazon Web Servers? Is the motto “[empower the little guy, screw the big guy](https://www.cnbc.com/2021/05/18/why-ethereum-founder-vitalik-buterin-got-into-crypto-bitcoin.html?)” true if the little guys use the big guy’s service? I don’t think so > > Speaking of nodes… > > ​ > > * **It's so damn expensive to run ETH node!** > > To run a full ETH node you need 32 coins which even during this bear market amounts to almost 60k dollars: [https://ethereum.org/en/run-a-node/](https://ethereum.org/en/run-a-node/) > > So much for the empowering of the little guy! > > You can of course join pools but that’s not the same. Plus you risk losing your coins if the pool you joined turns out to be a bad actor. You have to take a good look at the pool before joining it and find out if it's trustworthy, transparent and what's its track record > > Speaking of high prices… > > ​ > > * **ETH gas fees are pain in the… wallet** > > As you probably know, all transactions on Ethereum blockchain are paid in ETH (gwei). There is nothing strange about that but since ETH puts a lot of focus on security, it means that storage and processing power costs more. And the more popular ETH becomes, the higher the cost of storage and processing power becomes = the gas fees are more expensive. It is not easy to solve this problem. Just look at Solana – it has very small fees but its security has more holes than a Swiss cheese. This is why there are second layer (L2) solution > > But layer 2 solutions have their own problems and they reduce security > > Speaking of security… > > ​ > > * **ETH might be deemed a security** > > Since the transition from PoW to PoS, Gary Gensler argues that ETH is a security. He uses [Howey Test](https://www.investopedia.com/terms/h/howey-test.asp) in his argumentation. But it doesn’t really matter what argumentation he uses. As long as Gensler holds any power, Ethereum and all PoS coins are in danger. Especially since the New York Attorney General’s Office (NYAG) filed a lawsuit against KuCoin. They said that KuCoin offers trading pairs for coins, including ETH, that are securities ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/100p793/top_coins_ethereum_conarguments_january_2023/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/1ebgodx/daily_crypto_discussion_july_25_2024_gmt0/).

GrixM

Bro we're less than 10% below ATH. If buying now brings your average down then you've fucked up

outsideisfun

Is anyone else accumulating like crazy? I've been loving this dip. It's so satisfying seeing my portfolio grow and playing out ATH scenarios. It's like my favorite past-time.

CointestMod

#Bitcoin Pro-Arguments Below is an argument written by Nostalg33k which won 2nd place in the Bitcoin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > For this entry I'm going to update an overhaul my previous argument. This one is going to be very long but also address new things. I'm going to try to be more rigorous. Have fun ! > > Last entry: > > > Writing a Pro argument for Bitcoin in 2023 seems complicated because everything has been said... or did it? > Edit: I have a small bag of Bitcoin currently valued around 630 bucks. I am also invested in crypto around 2100 bucks which are always moving when Bitcoin is moving. Financial disclosure should be mandatory in these arguments =) > > ​ > > # Bitcoin: A small introduction. > > Bitcoin is the most famous cryptocurrency. It was created by the mysterious Satoshi Nakamoto. The creation of Bitcoin is some of the most weird mystery ever. No one knows who Satoshi Nakamoto really is. > > Bitcoin was started as a way to circumvent traditional banking in the wake of the financial crisis and the bail out of banks. Bitcoin relies on blockchain technology. Blockchain can be seen as an open book allowing anyone to know where is each fraction of Bitcoin ever. > > This blockchain is maintained through computer power. In a vulgar way: Bitcoin is mined by solving math problems. The maths problem becomes harder when more people are mining so that mining takes a fixed amount of time according to a timeline known to everyone. In order to respect this timeline, mining rewards are halved every few years. > > Since anyone who wants to validate transactions is forced to complete a very hard math problem (which becomes harder the more people are mining), no one can cheat in new transactions. Also, every other miner has a copy of the blockchain. Through making sure that no entity has 50% of the mining, you can stop nefarious actors from changing the blockchain. > > This is using cryptographic technology that I don't yet understand but you can read more about it here: > > [Bitcoin Wikipedia](https://fr.wikipedia.org/wiki/Bitcoin) > > Without delving more into the tech side of bitcoin. Which can also be explained through youtube videos here: [Bitcoin explained](https://www.youtube.com/watch?v=bBC-nXj3Ng4) > > The Metrics of Bitcoin are currently: 22400$ Per coin for a Market cap of 430 Bilions and a daily volume of 19 Billions. Bitcoin was shortly valued at 69000 usd during the ATH. > > Now let's dive into what is making Bitcoin so good. > > # Bitcoin is the king of POW: Why it matters and why we need a strong Bitcoin > > So as the title suggests it, the recent switch of ETH from POW to POS makes Bitcoin the sole serious POW cryptocurrency. In this write up, we are going to discuss the three main strength of Bitcoin, security, decentralization, and incentive for green energy production. Bitcoin is a highly liquid asset and has become nearly universally known as an investment. Many arguments have been made in favor of Bitcoin as an investment. It is interesting to delve into the limited supply of bitcoin. > ​ > Of course, the main feature of Bitcoin is the Permissionless aspect. This allows the unbanked to use a P2P service. > > # 1) Bitcoin: The Apex of Security. > > > Bitcoin is ultra secure thanks to its use of Blockchain technology and the way it is verified through proof of work. To explain this let me quote IBM: > > > > > Public blockchain networks typically allow anyone to join and for participants to remain anonymous. A public blockchain uses internet-connected computers to validate transactions and achieve consensus. Bitcoin is probably the most well known example of a public blockchain, and it achieves consensus through "bitcoin mining." Computers on the bitcoin network, or “miners,” try to solve a complex cryptographic problem to create proof of work and thereby validate the transaction. Outside of public keys, there are few identity and access controls in this type of network. > > > > [IBM on Blockchain security](https://www.ibm.com/topics/blockchain-security) > > ​ > Mining is measured in Hashrate. Here is the explanation of Hashrate: > > > > > Hash rate, sometimes referred to as hashrate, is a measure of the computing power on a cryptocurrency network that serves as a key security indicator. It measures the total computational power used by a “proof-of-work” (POW) cryptocurrency network to process transactions in a blockchain. > > > > [USNEWS explains hashrate](https://money.usnews.com/investing/term/hash-rate#:%7E:text=Hash%20rate%2C%20sometimes%20referred%20to,process%20transactions%20in%20a%20blockchain) > > ​ > So if the hashrate measures the security of the network, one may asks themselves: "Did the security of Bitcoin slowed when the price fell ?" > [The hashrate is near the ATH and growing making Bitcoin more and more secure as it continues to build over time](https://ycharts.com/indicators/bitcoin_network_hash_rate#:%7E:text=Basic%20Info,101.2%25%20from%20one%20year%20ago) > > ​ > So Bitcoin has never been as secure as it is today which makes it ultra valuable as a way to settle financial transactions. Yes holding Bitcoin for a long time is risky but using it as a medium to settle international transaction may currently be the securest and one of the best way to do so. > > > While Bitcoin is safe... what if a big part fails ? > > > # 2) Bitcoin mining: Too big to fail. > > So this write up could be seen as a POW write up, which it is to an extent. But Bitcoin offers its history and shows that it can survive the disparition of a big part of the network. > Decentralization allows for parts of the network to disappear and for the rest to take the mantle of securing the network. Yes, mining pools may grow too large for their own sake BUT in the end (nothing even matters) Bitcoin is heavily decentralized. It is so decentralized that, when China (which had a big part of Bitcoin mining) banned mining, Bitcoin just went through like nothing happened. Yes the hashrate fell a bit, the value too, but if we look back, it was nothing extraordinary. > > The resilience of Bitcoin is largely due to the fact that the hashrate symbolizes competition=> If the hashrate falls, then it is more profitable for other miners to keep mining or for new miners to start mining. This balance is what makes Bitcoin very resilient. > ​ > So if Bitcoin is highly secure and if it can survive part of the hashrate going bye bye, what makes it so good? What is the difference with any POW Cryptocurrency right now? > > > > # 3) Bitcoin: propping up the green energy sector. > > POW uses energy. One of the biggest concern about POW is the energy. While Ethereum was using GPUs and was asic resistant. Bitcoin mining is built differently. A long time ago, under oath, people discussed the environmental impact of Bitcoin Mining and I made a post explaining what was said: > ​ > The Energy Fud Was Killed > The most important thing that happened: The narrative that Bitcoin is too energy intensive was totally reversed. > Experts of the sector explained that, Wind Farms and Solar Farms, have a variable load. This variable load means that sometimes they lose money because they produce too much and there is not enough demand. Bitcoin mining provides a variable base load for these projects. What it means is that, mining can be turned on and off depending on demand. It was revealed that most of these wind and solar farms would simply not exist without Bitcoin Farming as baseline customers. > There are still miners that are using coal plants and fossil fuel but the leaders of the industry are developing in tandem with the green energy sector. > > My write up about the congressional hearing is still true and thanks to the infrastructure act, green energy will continue to grow and to be cheap. This will allow for a better mining infrastructure. > > [My post](https://www.reddit.com/r/CryptoCurrency/comments/s99phv/yesterday_one_of_the_most_bullish_events_ever/) > > > # ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/100p7vq/top_coins_bitcoin_proarguments_january_2023/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin) to find arguments on this topic in other rounds.

Extreme_Nectarine_29

Don't think so, 4 years is too many people at loss with different price points. I bought near ATH but right now I would sell before that.

Preme2

Stocks already decoupled from crypto. The stock market put in new ATH while Bitcoin has been struggling since March.

EducationalSeaweed53

I buy at ATH and sell the dip

escodelrio

**Historical Bitcoin prices for today, July 24th:** 2024 - $66,522 2023 - $29,178 2022 - $22,582 2021 - $33,825 2020 - $9,546 2019 - $9,804 2018 - $8,407 2017 - $2,763 2016 - $659 2015 - $288 2014 - $602 2013 - $95 2012 - $8.6 2011 - $14.0 2010 - $0.10 **Additional Stats:** Bitcoin's current market cap is $1.31 trillion. Bitcoin's current block height is 853373; with the average block time for the last 7 days being 9.12 minutes. Bitcoin's current block reward is 3.125₿, which is worth $207,882 per block. The next Bitcoin halving is anticipated to happen between 23-Mar-2028 to 20-Apr-2028; the block reward will fall to 1.5625₿. There are currently 23,912 reachable Bitcoin nodes. Bitcoin's average daily hashrate for the last 7 days is 646 exahashes per second. Bitcoin's average daily trading volume for the last 7 days is 56,984 ₿. Bitcoin's average daily number of transactions for the last 7 days is 681,903. Bitcoin's average transaction fee for the last 7 days is 9.23 sats/VB, with the average fee's USD amount being $1.18. There are currently 19.73M ₿ in circulation, leaving 1.27M to be mined. There are currently 2.53M ₿ held by companies, governments, DeFi, and ETFs, representing 12.81% of circulating supply. There are currently 53,727,093 nonzero Bitcoin addresses that contain 185.28M UTXOs. Bitcoin's average daily price from 18-Jul-2010 to 24-Jul-2024 is $12,107. Bitcoin's average daily price for the year 2024 is $59,870. 1 US Dollar ($) currently equals: 1,503 satoshis; making 1 penny equal 15.03 sats. Bitcoin's minimum (closing) price for the year 2024 was $39,556.40 on 22-Jan-2024. Bitcoin's maximum (closing) price for the year 2024 was $73,066.30 on 13-Mar-2024. Bitcoin's minimum (intraday) price for the year 2024 was $38,546.90 on 23-Jan-2024. Bitcoin's maximum (intraday) price for the year 2024 was $73,740.90 on 14-Mar-2024. Bitcoin's largest daily decrease for the year 2024 was -$5,544.10 on 19-Mar-2024. Bitcoin's largest daily increase for the year 2024 was +$5,804.0 on 20-Mar-2024. Bitcoin's all-time high (intraday) was $73,740.90 on 14-Mar-2024. Bitcoin is down 9.79% from the ATH.

Extreme_Nectarine_29

Still more credible than my Polkadot reaching a new ATH

iso20022_

All in on BTC, start selling partially once we break ATH, all the way up until may/June. Leave 10% of stake in BTC and start shorting BTC inverse. You do that for around 30-40weeks. Then close the position and you buy again. 

El_Gato_Jefe

$PEPE is awesome. I got in week 2 after launch and made a ton of money off it. Wish I had never sold (ignore the ppl saying crypto isn’t a good long term investment). The market cap is kinda high now, but it’s still got plenty room to grow. Just depends on how much money you’re willing to invest, and the level of patience you have with investing money. Check $ANDY (on Ethereum) out. I turned $2,950 into $57k in less than a month with it. I got in on day 1 tho of course. The ATH is around $320 million market cap.. One last thing, when it comes to making these decisions, I suggest you not weigh too much on what others have to say, especially when their opinions are based solely off their own personal opinions… I sold over 3,500,000 $ANDY the morning it first began to 🚀, then my phone died… I later found out I missed out on an opportunity to have made a little over half a million dollars off an initial investment of $3000 within 3 to 5 weeks I only sold because my friend (whom is an experienced crypto investor) told me it was a scam 🤦🏽‍♂️ Btw - For anyone tryna knock anything i said here in this comment, I document my entire crypto journey.. tons of screenshots to back every word 💯

Radaysho

Last high and ATH too was the 73k-mark, yeah. Since then it's slowly, but steadily going down. >Is it possible for BTC to go that high, ever? That's the question everybody is asking and nobody can't answer. Do you believe in crypto as a storage for value? Then yes, with a fixed amount of btc and more and more people investing more and more money it's definitely possible for it to go up that high. Do you believe in it as currency? Then you don't invest at all and just use it. Or do you don't believe it has a future? Then don't invest at all or just try to make money off other people and do the ol' buy low sell high. If you don't know what to believe it's best to read a bit into what money is, how it's issued and works. How economy works. What a fiat-currency is. It's a gigantic rabbit hole but it helps to get a grasp of the situation. I myself discovered that I really know jackshit about money but even reading a bit into it helps tremendously. For my personal opinion: No, I don't think btc has a future. Definitely not as a currency because transactions take too long and people don't give a shit about privacy. And not as a storage of value because it's too fragile compared to gold. Gold doesn't need electricity, gold can't be hacked. The only crypto-currency that has an actual usecase right of now is Monero. It's actually used as a currency because it's completely anonymous. You won't like it though, because it's not for investing, you use it to buy illegal stuff or if you're a privacy nut.

Ryncewindfeng

Hopefully so. Here's to the ATH for everyone

Chronmagnum55

If I remember correctly, this is what happened with the BTC ETF. The price went up in anticipation, but then we saw a sell off when it launched. I think it wasn't too long after that BTC started pumping, and we hit the ATH. It still feels like things are going to start ramping up over the next few months

lordinov

Is this why we drop 2% instead of going to ATH? Darn it. Stop putting bricks on our way god damn it.

CointestMod

#Bitcoin Con-Arguments Below is an argument written by Nostalg33k which won 3rd place in the Bitcoin Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > # Bitcoin, could it be wrong. "Are we the bad guys ?" > > ​ > > In this small write up, I am going to delve into con-arguments against Bitcoin. Bitcoin is the flagship of cryptocurrencies but there are a lot of criticism that could be leveraged against Bitcoin. First of all, let's delve into a small presentation of Bitcoin. > > # Bitcoin: An introduction. > > Bitcoin is the biggst cryptocurrency. It was created by a mysterious figure. The creation of Bitcoin is a strange and mysterious mystery. No one knows who created Bitcoin. > > Bitcoin was started as a way to circumvent traditional banking. Bitcoin relies on blockchain technology. Blockchain can be seen as an open book allowing anyone to know where is each fraction of Bitcoin ever. > > This blockchain is maintained through computer power. In a vulgar way: Bitcoin is mined by solving math problems. The maths problem becomes harder when more people are mining so that mining takes a fixed amount of time according to a timeline known to everyone. In order to respect this timeline, mining rewards are halved every few years. > > Since anyone who wants to validate transactions is forced to complete a very hard math problem (which becomes harder the more people are mining), no one can cheat in new transactions. Also, every other miner has a copy of the blockchain. Through making sure that no entity has 50% of the mining, you can stop nefarious actors from changing the blockchain. > > This is using cryptographic technology that I don't yet understand but you can read more about it here: > > Bitcoin Wikipedia > > Without delving more into the tech side of bitcoin. Which can also be explained through youtube videos here: Bitcoin explained > > The Metrics of Bitcoin are currently: 22400$ Per coin for a Market cap of 430 Bilions and a daily volume of 19 Billions. Bitcoin was shortly valued at 69000 usd during the ATH. > > Now let's dive into what is making Bitcoin so bad. > > # Permissionless: A senseless destruction of world order. > > Bitcoin is a project existing in a very delicate world balanced by power structure. While we can be happy that the current top dog is the US (yes they are not perfect BUT they could be worse) we know that someone else could be on top. Despite that, we should strive to use the current US dominance to curb rogue states into the world order. > > The current war in Ukraine is a demonstration of the world order crumbling to maintain itself. I'd argue, the rise of cryptocurrencies may be a part of this crumbling. In fact, I'd go as far as to say that, Bitcoin replacing the US Dollar would usher a chaotic age of international relation. > > The world has shrank a lot since the rise of internet. The fact is that the stability of the world is much more precious than ever. Everyone can see what happens in any other country and how the supply chains which guarantee our comfort are of the utmost importance. YET, we are pushing forward a great disrupter of balance. > > Permissionless can help terrorists, permissionless can help crime. YES traditionnal banking is doing it already BUT I'd argue that the absence of regulator and watchdog to make the current system comply is not an argument in favor of a tech which will make regulation and surveillance harder. > > # Bitcoin: This MONEY Doesn't Work, This Money Doesn't WORK. > > Bitcoin is claiming to be a currency. A viable alternative to fiat money. But anyone with a neuron or two could realize that the fluctuation in the value of Bitcoin is crazy. Some pedentic nerd and bitcoin maximalist could argue that 1 BTC = 1 BTC BUT if you don't know how much you'll need to put food on the table then BTC is not working as a currency. Yes inflation is lowering the value of Fiat BUT fiat doesn't see wild swings of + or - 30 % in most economies. > > While not being really MONEY I'd argue that Bitcoin doesn't WORK. To work the economy needs money to move. 100$ could buy groceries then be used to pay the local brewery, the butcher and many more people before going back to a bank account. This movement has created economic vitality. Bitcoin, most of the time, is seen as an investment vehicle such as gold. I'd argue that these vehicle are not valuable for society since the freeze money in place. > > In a bank, your money is working. Instead of Bitcoin, people should be paid more by banks to put their money in investment portfolios since these provide the liquidity necessary to make the economy work. > > ​ > > # Bitcoin: A very big spending of energy. > > ​ > > Bitcoin is a project which is wasting a lot of ressource for something which is not making a lot of sense. While Bitcoin is using more and more green energy, I'd argue that it is still a big waste. Subsidies could prop up the green sector far better than the mining farms that go with windfarms. > > Seeing Bitcoin as one of the biggest leverage of the green sector is a non-sense. Optimization of the energy sector means that the variable production should allow to reduce the use of fossil energy. Not allow to waste energy in a senseless project. > > ​ > > # Conclusion: The harsh truth is, we may be the bad guys. > > Partaking in an economic sector which allows for a disruption of world order, which doesn't help the economy and which is wasting energy may not be beneficial. This is why Bitcoin should not be seen as a messiah of economic proportion but as something which should raise criticism and should be heavily regulated. > > Good luck in your investments. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/100p7u8/top_coins_bitcoin_conarguments_january_2023/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/1ean7k5/daily_crypto_discussion_july_24_2024_gmt0/).

CointestMod

#Bitcoin Cash Con-Arguments Below is a Bitcoin Cash con-argument written by Blendzi0r. > # What is Bitcoin Cash (BCH)? > > Bitcoin Cash is a [hard fork](https://www.investopedia.com/terms/h/hard-fork.asp) of Bitcoin. It was launched in 2017. [It has 32MB blocks instead of Bitcoin’s 1MB](https://www.coindesk.com/learn/2015/08/21/what-is-the-bitcoin-block-size-debate-and-why-does-it-matter/), so it can handle many more transactions per second (TPS). And that’s the main difference between BTC and BCH, as its goal was to tackle [Bitcoin’s scalability problem](https://en.wikipedia.org/wiki/Bitcoin_scalability_problem) without the second layer solutions. > > # What are the cons of BCH? > > **IT’S CENTRALIZED** > > BCH “inherited” BTC’s supply distribution from July 2017 when it was launched but the supply held by large addresses [has become more concentrated over time](https://coinmetrics.substack.com/p/coin-metrics-state-of-the-network-2d3) (while BTC is even more decentralized today). > > In 2019, [just two mining pools were able to perform a 51% attack](https://www.coindesk.com/tech/2019/05/24/bitcoin-cash-miners-undo-attackers-transactions-with-51-attack/). And although it was done for a good cause – to stop an unknown miner from exploiting a bug – it can serve as a prove that BCH was centralized already back then. > > ​ > > **THE NARRATIVE IS ON BITCOIN’S SIDE** > > The value of Bitcoin has gone up more than 2,000% since July 2017 while BCH has stayed below its price from July 2017 most of the time, not to mention its [ATH price of $4,355](https://coinmarketcap.com/currencies/bitcoin-cash/) (it's 86% down from ATH as of 31.10.2021). > > Also liquidity and real-world usability of Bitcoin Cash [is nowhere near that of Bitcoin](https://www.investopedia.com/tech/bitcoin-vs-bitcoin-cash-whats-difference/#citation-4). It is clear that the great majority of investors chose Bitcoin after the 2017 hard fork and BCH is seen as an inferior copy. > > ​ > > **IT HAD ITS OWN HARD FORKS** > > People cringe at Internet Computer’s name, but for me, Bitcoin Satoshi Vision (BSV) takes the cake. It’s a hard fork of Bitcoin Cash that took place in late 2018. It has even larger blocks than BCH – [2GB](https://finance.yahoo.com/news/world-record-2-gigabyte-block-130000498.html). > > In 2020, there was another hard fork that produced two new chains- Bitcoin Cash ABC and Bitcoin Node. This shows that Bitcoin Cash has failed not only against Bitcoin, but had splits among its own community, further hurting its credibility. > > ​ > > **IT'S SCALABILITY COMES AT A COST** > > Bigger blocks have certain [disadvantages](https://www.sfox.com/blog/is-bigger-better-how-to-evaluate-bitcoin-cash-based-on-block-size/). Running nodes when the blocks are big requires more resources. Also, the commissions from transaction fees are lower, which makes mining the coin less appealing. This might result in nodes being manageable only by big, private companies, making BCH even more centralized. > > ​ > > **ITS MAIN ADVANTAGE ISN’T UTILIZED…** > > Although BCH’s blocks can handle up to 32MB of data, [they have not reached even 2MB since they were introduced in 2018](https://bitinfocharts.com/comparison/size-btc-bch.html#3y). What's more, their average size is currently much lower than that of Bitcoin’s blocks. > > Taking into consideration the point above about the disadvantages of bigger blocks, it makes you wonder why BCH would push for such big blocks when most of the time they don't even use 3% of their capacity. > > ​ > > **… AND EVEN IF IT WAS, THERE'S LIGHTNING NETWORK** > > [SegWit](https://www.investopedia.com/terms/s/segwit-segregated-witness.asp) allows second layer solutions to be implemented on Bitcoin. One of those solutions is Lightning Network which has become very popular recently after being [adopted by El Salvador](https://bitcoinmagazine.com/markets/lightning-network-bitcoin-usage-adoption-el-salvador) and [Twitter](https://www.theblockcrypto.com/post/118450/twitter-rolls-out-bitcoin-tipping-for-ios-users-via-lightning-looks-to-nfts-for-the-future). > > Lightning Network effectively eliminates the main advantage of Bitcoin Cash by allowing faster and cheaper transactions with bitcoins. Even if BCH fully utilized its 32MB blocks, it wouldn't be able to compete with Lightening Network. > > \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ > > **SUMMARY** > > Bitcoin Cash is a much worse store of value than Bitcoin and now it is also losing the electronic cash narrative, since the growing adoption of [Lightning Network](https://en.wikipedia.org/wiki/Lightning_Network) makes Bitcoin a much cheaper and faster payment option. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin_Cash) to find submissions for other topics.

cryptolipto

Exactly. Bitcoin shot up before the ETF launch as people tried to front run it, then retraced a bit after launch, and the proceeded to create a new ATH

RariCalamari

Hope you bought low because that thing isnt going anywhere near ATH. Might pump to $50-$80 and you can make some profit on it but these old coins that everyone forgot about are doomed. Even if this cycle it pumps some next cycle it will be close to zero for sure

Objective_Digit

An ATH and one that covers almost the entire span of ETH's existence is not cherry-picking. >Did you know that if Michael Saylor had bought and staked ETH instead of BTC at the same times as he did This is cherry-picking. No doubt some people have donw well out of ETH but on the whole people are better off holding Bitcoin. >And Bitcoin also has a history of being censored, with how the Blockstream + Theymos cabal subverted the will of the majority of users by rejecting and suppressing Segwit2x. Sorry that's just bullshit. Bitcoin txs were not censored as was the case with Ethereum. The nodes didn't want bigger blocks. They can't be censored. >It was the response (with consensus) against an attack on the chain. No it wasn't. It was a hack of a DAO. It had nothing to with the ETH network per se. Vitalik just wanted to bail out his friemds and damn the consquences. It would never happen in Bitcoin. No one undid the Mt Gox hack.

iwakan

>No it doesn't. ETHBTC is still down 60% from its ATH from 7 years ago. Cherrypicked. The short term blips that are ATHs matters not, the long term trend is what matters. Did you know that if Michael Saylor had bought and staked ETH instead of BTC at the same times as he did, he would have earned almost *5 billion dollars more* by now, than he did with BTC? >Ethereum has history of being censored (the DAO rollback in 2016). And Bitcoin also has a history of being censored, with how the Blockstream + Theymos cabal subverted the will of the majority of users by rejecting and suppressing Segwit2x. You disagree with that interpretation of history? Well, then you probably should understand just about how I feel about your ridiculous description of the DAO fork, too. > Claiming ETh is not an altcoin is a little part of that goal to diminish Bitcoin. Jesus Christ, see this is what I mean about the conceit. I'm done with this stupid conspiracy theory discussion.

The-maulted-One

I panic sold my last two bitcoin when China imposed a ban on Crypto in like 2016, sold them for a €1000 each, never got the chance to buy them again. Not long after went on a run to its ATH of €17,000 few months later. Learnt a hard lesson. Do not day trade unless you know what you’re doing! Hope you reclaim your position mate.

Objective_Digit

> No it doesn't have any authority. I mean this is all pointless semantics so anyone is free to use whatever label they want and draw from whatever "authority" they want. But for me personally, the only part bitcointalk plays in the history of that word is as just one more example of bitcoiners lacking the foresight to use a different word for their section about other chains, because they thought every other blockchain in the future would just be a clone/alternative of bitcoin. The Complete Oxford Dictionary would say different. Early use of terms and words is always given special attention and is cited. >It can indeed be used as a store of value and bank account alternative like bitcoin, and it does that well No it doesn't. ETHBTC is still down 60% from its ATH from 7 years ago. Ethereum has history of being censored (the DAO rollback in 2016). So it's not only aping but doing it badly. >It is not a mere alternative to Bitcoin and therefore it is not an altcoin It is an alternative. Some would say it's an attack on Bitcoin. Claiming ETh is not an altcoin is a little part of that goal to diminish Bitcoin.

jawni

Oh it's definitely started already, total crypto market cap is only 10% off it's ATH.

Dazzling_Marzipan474

Not selling BTC. If my alts get close to ATH I'll start dumping them.

IndustrialPuppetTwo

I totally agree on stocks and index funds but not BTC. At least not yet. Once it's finally stabilized then it will start acting more like traditional indexes. But it's been my experience that in the lifetime of BTC it has clear zones of over value and under value. Long term DCA is of course the safest bet and I am in it for the long term but I'm also not going to buy it now when it's near it's ATH. It will be undervalued again.

binary_blackhole

when do you think btc will break the 73k$ ATH?

JJADu

Well done, from hwre just sort of DCA when it goes down or if we pass ATH.

escodelrio

**Historical Bitcoin prices for today, July 23rd:** 2024 - $66,704 2023 - $30,086 2022 - $22,460 2021 - $33,603 2020 - $9,600 2019 - $9,889 2018 - $7,723 2017 - $2,757 2016 - $655 2015 - $276 2014 - $622 2013 - $96 2012 - $8.4 2011 - $13.70 2010 - $0.10 **Additional Stats:** Bitcoin's current market cap is $1.32 trillion. Bitcoin's current block height is 853373; with the average block time for the last 7 days being 9.30 minutes. Bitcoin's current block reward is 3.125₿, which is worth $208,449 per block. The next Bitcoin halving is anticipated to happen between 23-Mar-2028 to 20-Apr-2028; the block reward will fall to 1.5625₿. There are currently 23,981 reachable Bitcoin nodes. Bitcoin's average daily hashrate for the last 7 days is 631 exahashes per second. Bitcoin's average daily trading volume for the last 7 days is 56,410 ₿. Bitcoin's average daily number of transactions for the last 7 days is 637,629. Bitcoin's average transaction fee for the last 7 days is 9.53 sats/VB, with the average fee's USD amount being $1.27. There are currently 19.73M ₿ in circulation, leaving 1.27M to be mined. There are currently 2.52M ₿ held by companies, governments, DeFi, and ETFs, representing 12.76% of circulating supply. There are currently 53,696,982 nonzero Bitcoin addresses that contain 185.17M UTXOs. Bitcoin's average daily price from 18-Jul-2010 to 23-Jul-2024 is $12,097. Bitcoin's average daily price for the year 2024 is $59,841. 1 US Dollar ($) currently equals: 1,499 satoshis; making 1 penny equal 14.99 sats. Bitcoin's minimum (closing) price for the year 2024 was $39,556.40 on 22-Jan-2024. Bitcoin's maximum (closing) price for the year 2024 was $73,066.30 on 13-Mar-2024. Bitcoin's minimum (intraday) price for the year 2024 was $38,546.90 on 23-Jan-2024. Bitcoin's maximum (intraday) price for the year 2024 was $73,740.90 on 14-Mar-2024. Bitcoin's largest daily decrease for the year 2024 was -$5,544.10 on 19-Mar-2024. Bitcoin's largest daily increase for the year 2024 was +$5,804.0 on 20-Mar-2024. Bitcoin's all-time high (intraday) was $73,740.90 on 14-Mar-2024. Bitcoin is down 9.54% from the ATH.

flog_fr

I agree mostly on your vision. I feel this cycle will be very different, in the sense that institution are in the play now, and it changes lots of things, like higher lows (like last 1-2 weeks when DE sold 40k BTC and the price dropped only by 20%), and higher high (with an ATH before the halving). But price wise it will grow slowly over the next years. I believe there will be always some 20-40% drops because of countries or energy costs problems. Inflation and allocation of resources have been disastrous for the last years (Capital in the XXIe from T. Piketty), leading to capital having much more returns than salary. And which capital the government have the less power over ? Crypto. I truly believe BTC will stand as a store of value like Gold in the next decades. If the dollar is continuing to decrease its value in the following years, all the other assets and commodities will rise. The only things that could change this would be a WW3, or government taking strong actions...

Slimalicious

no them, their investors. Grayscale will follow the same strategy as their Bitcoin fund: keep charging a crazy high fee (1.5%) while their fund slowly runs down until its more advantageous to lower their fees to the market rate. Remember, Bitcoin ETFs drove a short-lived run-up, then dumped, then hit a new ATH within weeks.

Simke11

Have you been through crypto bear market? When BTC price drops 70-80% you'd wish you sold for fiat. Sure, in few years time price will recover and set new ATH, but you could have reinvested money somewhere else or even just kept in on the sidelines to buy even bigger stack during bear. You aren't going to time the top or the bottom perfectly, but holding through bear makes no sense to me.

SemperBavaria

This is the correct answer!👆👆👆 A case was already made this year where BTC reached a new ATH against the turkish lira before it was reached in USD. That happened because the YTL has seen inflation of 70% - so everybody who invested their lira in BTC got their buying power preserved.

Bright_Ad8534

Unsure of course but it’s not unusual to see 40% drawbacks even in a bull market, which are buying opportunities as after a significant drawback usually it’ll return to the previous local top or go on to make a new ATH as history shows. If you want to know the future, look to the left of the chart.

ResponsibilitySea327

I'm still waiting for BTC to reach its inflation adjusted ATH from 2021...

dsm582

It still hasn’t even hit the ATH

CointestMod

#Bitcoin Pro-Arguments Below is an argument written by Nostalg33k which won 2nd place in the Bitcoin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > For this entry I'm going to update an overhaul my previous argument. This one is going to be very long but also address new things. I'm going to try to be more rigorous. Have fun ! > > Last entry: > > > Writing a Pro argument for Bitcoin in 2023 seems complicated because everything has been said... or did it? > Edit: I have a small bag of Bitcoin currently valued around 630 bucks. I am also invested in crypto around 2100 bucks which are always moving when Bitcoin is moving. Financial disclosure should be mandatory in these arguments =) > > ​ > > # Bitcoin: A small introduction. > > Bitcoin is the most famous cryptocurrency. It was created by the mysterious Satoshi Nakamoto. The creation of Bitcoin is some of the most weird mystery ever. No one knows who Satoshi Nakamoto really is. > > Bitcoin was started as a way to circumvent traditional banking in the wake of the financial crisis and the bail out of banks. Bitcoin relies on blockchain technology. Blockchain can be seen as an open book allowing anyone to know where is each fraction of Bitcoin ever. > > This blockchain is maintained through computer power. In a vulgar way: Bitcoin is mined by solving math problems. The maths problem becomes harder when more people are mining so that mining takes a fixed amount of time according to a timeline known to everyone. In order to respect this timeline, mining rewards are halved every few years. > > Since anyone who wants to validate transactions is forced to complete a very hard math problem (which becomes harder the more people are mining), no one can cheat in new transactions. Also, every other miner has a copy of the blockchain. Through making sure that no entity has 50% of the mining, you can stop nefarious actors from changing the blockchain. > > This is using cryptographic technology that I don't yet understand but you can read more about it here: > > [Bitcoin Wikipedia](https://fr.wikipedia.org/wiki/Bitcoin) > > Without delving more into the tech side of bitcoin. Which can also be explained through youtube videos here: [Bitcoin explained](https://www.youtube.com/watch?v=bBC-nXj3Ng4) > > The Metrics of Bitcoin are currently: 22400$ Per coin for a Market cap of 430 Bilions and a daily volume of 19 Billions. Bitcoin was shortly valued at 69000 usd during the ATH. > > Now let's dive into what is making Bitcoin so good. > > # Bitcoin is the king of POW: Why it matters and why we need a strong Bitcoin > > So as the title suggests it, the recent switch of ETH from POW to POS makes Bitcoin the sole serious POW cryptocurrency. In this write up, we are going to discuss the three main strength of Bitcoin, security, decentralization, and incentive for green energy production. Bitcoin is a highly liquid asset and has become nearly universally known as an investment. Many arguments have been made in favor of Bitcoin as an investment. It is interesting to delve into the limited supply of bitcoin. > ​ > Of course, the main feature of Bitcoin is the Permissionless aspect. This allows the unbanked to use a P2P service. > > # 1) Bitcoin: The Apex of Security. > > > Bitcoin is ultra secure thanks to its use of Blockchain technology and the way it is verified through proof of work. To explain this let me quote IBM: > > > > > Public blockchain networks typically allow anyone to join and for participants to remain anonymous. A public blockchain uses internet-connected computers to validate transactions and achieve consensus. Bitcoin is probably the most well known example of a public blockchain, and it achieves consensus through "bitcoin mining." Computers on the bitcoin network, or “miners,” try to solve a complex cryptographic problem to create proof of work and thereby validate the transaction. Outside of public keys, there are few identity and access controls in this type of network. > > > > [IBM on Blockchain security](https://www.ibm.com/topics/blockchain-security) > > ​ > Mining is measured in Hashrate. Here is the explanation of Hashrate: > > > > > Hash rate, sometimes referred to as hashrate, is a measure of the computing power on a cryptocurrency network that serves as a key security indicator. It measures the total computational power used by a “proof-of-work” (POW) cryptocurrency network to process transactions in a blockchain. > > > > [USNEWS explains hashrate](https://money.usnews.com/investing/term/hash-rate#:%7E:text=Hash%20rate%2C%20sometimes%20referred%20to,process%20transactions%20in%20a%20blockchain) > > ​ > So if the hashrate measures the security of the network, one may asks themselves: "Did the security of Bitcoin slowed when the price fell ?" > [The hashrate is near the ATH and growing making Bitcoin more and more secure as it continues to build over time](https://ycharts.com/indicators/bitcoin_network_hash_rate#:%7E:text=Basic%20Info,101.2%25%20from%20one%20year%20ago) > > ​ > So Bitcoin has never been as secure as it is today which makes it ultra valuable as a way to settle financial transactions. Yes holding Bitcoin for a long time is risky but using it as a medium to settle international transaction may currently be the securest and one of the best way to do so. > > > While Bitcoin is safe... what if a big part fails ? > > > # 2) Bitcoin mining: Too big to fail. > > So this write up could be seen as a POW write up, which it is to an extent. But Bitcoin offers its history and shows that it can survive the disparition of a big part of the network. > Decentralization allows for parts of the network to disappear and for the rest to take the mantle of securing the network. Yes, mining pools may grow too large for their own sake BUT in the end (nothing even matters) Bitcoin is heavily decentralized. It is so decentralized that, when China (which had a big part of Bitcoin mining) banned mining, Bitcoin just went through like nothing happened. Yes the hashrate fell a bit, the value too, but if we look back, it was nothing extraordinary. > > The resilience of Bitcoin is largely due to the fact that the hashrate symbolizes competition=> If the hashrate falls, then it is more profitable for other miners to keep mining or for new miners to start mining. This balance is what makes Bitcoin very resilient. > ​ > So if Bitcoin is highly secure and if it can survive part of the hashrate going bye bye, what makes it so good? What is the difference with any POW Cryptocurrency right now? > > > > # 3) Bitcoin: propping up the green energy sector. > > POW uses energy. One of the biggest concern about POW is the energy. While Ethereum was using GPUs and was asic resistant. Bitcoin mining is built differently. A long time ago, under oath, people discussed the environmental impact of Bitcoin Mining and I made a post explaining what was said: > ​ > The Energy Fud Was Killed > The most important thing that happened: The narrative that Bitcoin is too energy intensive was totally reversed. > Experts of the sector explained that, Wind Farms and Solar Farms, have a variable load. This variable load means that sometimes they lose money because they produce too much and there is not enough demand. Bitcoin mining provides a variable base load for these projects. What it means is that, mining can be turned on and off depending on demand. It was revealed that most of these wind and solar farms would simply not exist without Bitcoin Farming as baseline customers. > There are still miners that are using coal plants and fossil fuel but the leaders of the industry are developing in tandem with the green energy sector. > > My write up about the congressional hearing is still true and thanks to the infrastructure act, green energy will continue to grow and to be cheap. This will allow for a better mining infrastructure. > > [My post](https://www.reddit.com/r/CryptoCurrency/comments/s99phv/yesterday_one_of_the_most_bullish_events_ever/) > > > # ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/100p7vq/top_coins_bitcoin_proarguments_january_2023/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin) to find arguments on this topic in other rounds.

2q_x

He's the bankruptcy king. Everything will hit an ATH when they toast the FED for the insurance money. Just don't buy or sell insurance (or petrodollars) and you'll be fine.

OderWieOderWatJunge

SOL didn't reach its old ATH yet

CointestMod

#Bitcoin Pro-Arguments Below is an argument written by Nostalg33k which won 2nd place in the Bitcoin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > For this entry I'm going to update an overhaul my previous argument. This one is going to be very long but also address new things. I'm going to try to be more rigorous. Have fun ! > > Last entry: > > > Writing a Pro argument for Bitcoin in 2023 seems complicated because everything has been said... or did it? > Edit: I have a small bag of Bitcoin currently valued around 630 bucks. I am also invested in crypto around 2100 bucks which are always moving when Bitcoin is moving. Financial disclosure should be mandatory in these arguments =) > > ​ > > # Bitcoin: A small introduction. > > Bitcoin is the most famous cryptocurrency. It was created by the mysterious Satoshi Nakamoto. The creation of Bitcoin is some of the most weird mystery ever. No one knows who Satoshi Nakamoto really is. > > Bitcoin was started as a way to circumvent traditional banking in the wake of the financial crisis and the bail out of banks. Bitcoin relies on blockchain technology. Blockchain can be seen as an open book allowing anyone to know where is each fraction of Bitcoin ever. > > This blockchain is maintained through computer power. In a vulgar way: Bitcoin is mined by solving math problems. The maths problem becomes harder when more people are mining so that mining takes a fixed amount of time according to a timeline known to everyone. In order to respect this timeline, mining rewards are halved every few years. > > Since anyone who wants to validate transactions is forced to complete a very hard math problem (which becomes harder the more people are mining), no one can cheat in new transactions. Also, every other miner has a copy of the blockchain. Through making sure that no entity has 50% of the mining, you can stop nefarious actors from changing the blockchain. > > This is using cryptographic technology that I don't yet understand but you can read more about it here: > > [Bitcoin Wikipedia](https://fr.wikipedia.org/wiki/Bitcoin) > > Without delving more into the tech side of bitcoin. Which can also be explained through youtube videos here: [Bitcoin explained](https://www.youtube.com/watch?v=bBC-nXj3Ng4) > > The Metrics of Bitcoin are currently: 22400$ Per coin for a Market cap of 430 Bilions and a daily volume of 19 Billions. Bitcoin was shortly valued at 69000 usd during the ATH. > > Now let's dive into what is making Bitcoin so good. > > # Bitcoin is the king of POW: Why it matters and why we need a strong Bitcoin > > So as the title suggests it, the recent switch of ETH from POW to POS makes Bitcoin the sole serious POW cryptocurrency. In this write up, we are going to discuss the three main strength of Bitcoin, security, decentralization, and incentive for green energy production. Bitcoin is a highly liquid asset and has become nearly universally known as an investment. Many arguments have been made in favor of Bitcoin as an investment. It is interesting to delve into the limited supply of bitcoin. > ​ > Of course, the main feature of Bitcoin is the Permissionless aspect. This allows the unbanked to use a P2P service. > > # 1) Bitcoin: The Apex of Security. > > > Bitcoin is ultra secure thanks to its use of Blockchain technology and the way it is verified through proof of work. To explain this let me quote IBM: > > > > > Public blockchain networks typically allow anyone to join and for participants to remain anonymous. A public blockchain uses internet-connected computers to validate transactions and achieve consensus. Bitcoin is probably the most well known example of a public blockchain, and it achieves consensus through "bitcoin mining." Computers on the bitcoin network, or “miners,” try to solve a complex cryptographic problem to create proof of work and thereby validate the transaction. Outside of public keys, there are few identity and access controls in this type of network. > > > > [IBM on Blockchain security](https://www.ibm.com/topics/blockchain-security) > > ​ > Mining is measured in Hashrate. Here is the explanation of Hashrate: > > > > > Hash rate, sometimes referred to as hashrate, is a measure of the computing power on a cryptocurrency network that serves as a key security indicator. It measures the total computational power used by a “proof-of-work” (POW) cryptocurrency network to process transactions in a blockchain. > > > > [USNEWS explains hashrate](https://money.usnews.com/investing/term/hash-rate#:%7E:text=Hash%20rate%2C%20sometimes%20referred%20to,process%20transactions%20in%20a%20blockchain) > > ​ > So if the hashrate measures the security of the network, one may asks themselves: "Did the security of Bitcoin slowed when the price fell ?" > [The hashrate is near the ATH and growing making Bitcoin more and more secure as it continues to build over time](https://ycharts.com/indicators/bitcoin_network_hash_rate#:%7E:text=Basic%20Info,101.2%25%20from%20one%20year%20ago) > > ​ > So Bitcoin has never been as secure as it is today which makes it ultra valuable as a way to settle financial transactions. Yes holding Bitcoin for a long time is risky but using it as a medium to settle international transaction may currently be the securest and one of the best way to do so. > > > While Bitcoin is safe... what if a big part fails ? > > > # 2) Bitcoin mining: Too big to fail. > > So this write up could be seen as a POW write up, which it is to an extent. But Bitcoin offers its history and shows that it can survive the disparition of a big part of the network. > Decentralization allows for parts of the network to disappear and for the rest to take the mantle of securing the network. Yes, mining pools may grow too large for their own sake BUT in the end (nothing even matters) Bitcoin is heavily decentralized. It is so decentralized that, when China (which had a big part of Bitcoin mining) banned mining, Bitcoin just went through like nothing happened. Yes the hashrate fell a bit, the value too, but if we look back, it was nothing extraordinary. > > The resilience of Bitcoin is largely due to the fact that the hashrate symbolizes competition=> If the hashrate falls, then it is more profitable for other miners to keep mining or for new miners to start mining. This balance is what makes Bitcoin very resilient. > ​ > So if Bitcoin is highly secure and if it can survive part of the hashrate going bye bye, what makes it so good? What is the difference with any POW Cryptocurrency right now? > > > > # 3) Bitcoin: propping up the green energy sector. > > POW uses energy. One of the biggest concern about POW is the energy. While Ethereum was using GPUs and was asic resistant. Bitcoin mining is built differently. A long time ago, under oath, people discussed the environmental impact of Bitcoin Mining and I made a post explaining what was said: > ​ > The Energy Fud Was Killed > The most important thing that happened: The narrative that Bitcoin is too energy intensive was totally reversed. > Experts of the sector explained that, Wind Farms and Solar Farms, have a variable load. This variable load means that sometimes they lose money because they produce too much and there is not enough demand. Bitcoin mining provides a variable base load for these projects. What it means is that, mining can be turned on and off depending on demand. It was revealed that most of these wind and solar farms would simply not exist without Bitcoin Farming as baseline customers. > There are still miners that are using coal plants and fossil fuel but the leaders of the industry are developing in tandem with the green energy sector. > > My write up about the congressional hearing is still true and thanks to the infrastructure act, green energy will continue to grow and to be cheap. This will allow for a better mining infrastructure. > > [My post](https://www.reddit.com/r/CryptoCurrency/comments/s99phv/yesterday_one_of_the_most_bullish_events_ever/) > > > # ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/100p7vq/top_coins_bitcoin_proarguments_january_2023/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin) to find arguments on this topic in other rounds.

BuffaloBrain884

$100k is only 1.5x the 2021 ATH Of course it's possible. A LOT has changed since 2021.

ComicsAndGames

>I think most people here are not bullish enough After everything that happenned(Trump getting shot, Biden giving up, etc), Bitcoin wasn't able to even reach it's past ATH(73k). People here are extremely bullish!

call-the-wizards

Your math is wrong. USD Inflation over the 2021-2024 period was 16%, not 25%. So the current value of $67k is equal to $57.8k in 2021. So the current exchange rate is comparable to what it was around most of the 2021 peak era. Back then it only spent a small amount of time above $58k. The recent ATH of $73k is equal to $63k in 2021 dollars, which is higher than any day in 2021 except for a single day when it hit $64k.

PotatoBestFood

Something you don’t understand: until BTC actually breaks out of the previous ATH, and reaches a new, respectable ATH (so above 85-ish k), then it’s too soon to celebrate. Although, people like you is what drives the price up by so much, and allows smart money to win such enormous payouts from playing the BTC market…

bbiittccooiinn

And what is your average? It's still down about 10% from ATH

jewellui

Would it make sense to sell alts and buy in BTC at current prices though? Alts are depressed whilst BTC is near ATH.

Grand_Masterpiece_99

Pepe just hit new ATH since April if anyone wondering on how to cope with the few ETH or LTC they been holding since 2020 that still hasn’t made ATH. Just cope hate doesn’t make you wealthier unless you’re paid critic‼️

Icy-Palpitation-2522

Why is crypto.com telling me its a good time to "lower my average" on bitcoin when its near ATH?

PotatoBestFood

It is not. Not in the eyes of experienced and seasoned investors or traders. Adjusting for inflation, and the fact BTC did not actually breach the ATH, but barely passed it by a couple thousand, and then immediately dropped — it shows that this is currently a triple top scenario, which is actually a very bad chart structure. That’s not to say I don’t think it will not be broken. And I am bullish. But we also need to look at the facts. And facts are: this is not a new ATH, this is merely the previous ATH.

Recent_Development_8

Yes if you’re timeline is 3 years then I personally would buy. I’m still buying at this time but not huge amounts. I already invested most of my load earlier and am just buying with whatever discretionary income I have at the end of the month. New ATH should hit by thanksgiving possibly sooner. Current formation is looking very bullish. Learn to follow and understand the MACD indicators. That’s when I was able to start making some real coin during volatile markets.

Cultural_Net_5216

It has started to retrace into the old ATH each cycle as diminishing returns plays out. It is of high likelihood that we will see Bitcoin below 60k again one day, say in late 2026.

Self-insubordinate

My prospect is all of us who hold will double the sum at the new ATH. Am I sure? No, I am always afraid but I have some and wait.

Archophob

this years ATH won't be reached before OP's 100k can't buy a whole coin any more.

the_lone_unlearned

Yes if I had $100k sitting around right now, above and beyond short term savings, I'd put it all in bitcoin right now. You say Bitcoin is near ATH, yes, but it's near last cycle's ATH. Meaning this cycle's bull run hasn't even started. Price may double in the next 12+ months. Of course it may very well crash down to around current prices next bear market in 18-24 months. But I'd rather be sure to get a cheap price now in the $60,000s than wait until 2026 and hope it gets this low again and try to time it, never being sure how low it'll go. So yes buying now is the easiest decision in the world. Though you said you won't need it for at least 3 years, if you can make that at least 4 years then you're golden, cuz of the 4 year cycle. 3 years from now, assuming a normal bull run then big crash, it should be in the process of recovering and may very well only be like $90k-$100k at that time. But in 4-5 years it might be >$200k. If this is money you area planning to use in a few years, when you end up needing it will make a big difference in how much money you get. But in terms of buying yes absolutely buy now I wouldn't even have to consider that for a second to make the right decision.

escodelrio

**Historical Bitcoin prices for today, July 22nd:** 2024 - $67,514 2023 - $29,789 2022 - $22,675 2021 - $32,299 2020 - $9,514 2019 - $10,413 2018 - $7,412 2017 - $2,837 2016 - $651 2015 - $277 2014 - $623 2013 - $92 2012 - $8.4 2011 - $13.70 2010 - $0.10 **Additional Stats:** Bitcoin's current market cap is $1.33 trillion. Bitcoin's current block height is 853373; with the average block time for the last 7 days being 9.50 minutes. Bitcoin's current block reward is 3.125₿, which is worth $210,981 per block. The next Bitcoin halving is anticipated to happen between 25-Mar-2028 to 20-Apr-2028; the block reward will fall to 1.5625₿. There are currently 23,977 reachable Bitcoin nodes. Bitcoin's average daily hashrate for the last 7 days is 613 exahashes per second. Bitcoin's average daily trading volume for the last 7 days is 61,443 ₿. Bitcoin's average daily number of transactions for the last 7 days is 598,758. Bitcoin's average transaction fee for the last 7 days is 9.73 sats/VB, with the average fee's USD amount being $1.32. There are currently 19.73M ₿ in circulation, leaving 1.27M to be mined. There are currently 2.51M ₿ held by companies, governments, DeFi, and ETFs, representing 12.74% of circulating supply. There are currently 53,725,734 nonzero Bitcoin addresses that contain 185.15M UTXOs. Bitcoin's average daily price from 18-Jul-2010 to 22-Jul-2024 is $12,086. Bitcoin's average daily price for the year 2024 is $59,807. 1 US Dollar ($) currently equals: 1,481 satoshis; making 1 penny equal 14.81 sats. Bitcoin's minimum (closing) price for the year 2024 was $39,556.40 on 22-Jan-2024. Bitcoin's maximum (closing) price for the year 2024 was $73,066.30 on 13-Mar-2024. Bitcoin's minimum (intraday) price for the year 2024 was $38,546.90 on 23-Jan-2024. Bitcoin's maximum (intraday) price for the year 2024 was $73,740.90 on 14-Mar-2024. Bitcoin's largest daily decrease for the year 2024 was -$5,544.10 on 19-Mar-2024. Bitcoin's largest daily increase for the year 2024 was +$5,804.0 on 20-Mar-2024. Bitcoin's all-time high (intraday) was $73,740.90 on 14-Mar-2024. Bitcoin is down 8.44% from the ATH.

theultimateusername

We are close to ATH. Is it possible we continue the bull run from here and just go up? Sure. Is it possible multiple other factors push us down to the 40's? Maybe lower? Doesn't seem likely but it is definitely possible too. I would split up your funds into two. Invest half now (whether in one lump sum or over a few weeks to try and get better average prices if possible) so no matter what happens you have a decent amount of exposure and if for any reason you need cash, no issue. Keep the other 50k in your savings account. Clearly you said you might need cash for whatever reason, and in the event we have a market crash you have enough liquidity to jump in and average out a great price. I'm a bitcoin maxi but if anyone may need their funds in the short term I advise against going all out. You still need short term cash for survival, emergencies etc and you don't wanna put it in at 65k only to withdraw it at 50 or so.

The_Dude_2U

It’s crypto. It will either stick around or it won’t. It won’t overtake Bitcoin and like all others, is subject to Bitcoin price for ATH.

imod87

It wouldn't be to bad to buy right now. It depends if you believe in a soft or hard landing. The likelihood of greater ATH in the year 25 are very good, but at the same time a hard landing may correlate. The next years will likely be years of high volatility, punishing weak hands.

1sw331

Can't wait to see how club develop after ATH is reached

Regular_Sea7553

I don’t think you should ever put all the money you have into a speculative asset class that’s nudging its ATH. The fact that you’re asking this question of a btc forum says you’ve already made up your mind though.

hoanglpr

What do you mean? $73k is not a new ATH?

PotatoBestFood

>somewhat made a new ATH before halving Saying that completely invalidates any opinion you might have about BTC or investing. It didn’t make a new ATH, and is in fact bound by the previous ATH and *could not* make a new ATH (yet, hopefully).

-Blue_Bull-

Shitcoins are gambling, and most of them will go to 0. The only reason I interact with them is purely for trading. I'll trade anything. Meme coins are the same. Yes, DOGE and SHIB are still around, but even those are massively down compared to their ATH's in 2021. All memes die off eventually, people just get bored of them. Some of the newer meme coins seem like low effort AI generated garbage. It's like they are not even trying. WIF, POPCAT, MOG, MEW etc.

RedditorReviewer97

I want to invest & have plenty of $$ to play with but Im not buying at ATH

MoveImpressive9119

Hate to saying these! After 4 years.. I seeing this Crypto Market is hopeless… Joint when all at ATH, until haven’t booked any profits.. actually more than $500k lost as of now I all my tokens stolen again. (about 20 wallets Trust, MetaMask auto disappears) Bought those token when they around $0.00005 continues buying until $0.0000000000000000001 tons of tokens. But when they about going up.. they “auto converted” with the rate: 1000000000000000000: 1 Now still have some token with market price $0.00005 and around 3000 token left.. Hopeless.. quitting.. and watching what gonna happen with the rest of my tokens..

Wolfsorax

No matter what in the back of my mind I am prepared to incur another ~70% dip. I watched the last cycle break 10k push 70 and back to 15-16k. At some point psychological FOMO is going to take over like it has in the past and there will be some form of crash / correction / overselling. I believe the ETFs and sentiment / new interest preceding the elections in BTC will hopefully dampen that ~70% dip. If it crashes 60% after the top then it’s still a win. I also don’t think people realize, we’re sitting near all time high almost immediately after halving. I think most of us didn’t expect to bear near ATH til roughly December / January. I still have a theory that the real bitcoin bull run we expect from 4 year cycles is still ahead. I actually think this current price reflects bitcoins scarcity more than anything.

Nice-t-shirt

This is gonna be a hard lesson. But you need to understand if you decide to get back in, Bitcoin moves up fast and hard. The majority of gains for any given year is going to be within a 10 day window. If you are not in the market during that time then there is no point. The only reasonable time to sell is ATH.

YOUNG-ARDS-SURVIVOR

Sorta both I wanted to sell at the peak or when it surpasses the ATH then buy back in when it dips hard then long term hold . If that makes sense?

Big_Don_

It just hit ATH... With a Dem as president...

CointestMod

#Bitcoin Pro-Arguments Below is an argument written by Nostalg33k which won 2nd place in the Bitcoin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > For this entry I'm going to update an overhaul my previous argument. This one is going to be very long but also address new things. I'm going to try to be more rigorous. Have fun ! > > Last entry: > > > Writing a Pro argument for Bitcoin in 2023 seems complicated because everything has been said... or did it? > Edit: I have a small bag of Bitcoin currently valued around 630 bucks. I am also invested in crypto around 2100 bucks which are always moving when Bitcoin is moving. Financial disclosure should be mandatory in these arguments =) > > ​ > > # Bitcoin: A small introduction. > > Bitcoin is the most famous cryptocurrency. It was created by the mysterious Satoshi Nakamoto. The creation of Bitcoin is some of the most weird mystery ever. No one knows who Satoshi Nakamoto really is. > > Bitcoin was started as a way to circumvent traditional banking in the wake of the financial crisis and the bail out of banks. Bitcoin relies on blockchain technology. Blockchain can be seen as an open book allowing anyone to know where is each fraction of Bitcoin ever. > > This blockchain is maintained through computer power. In a vulgar way: Bitcoin is mined by solving math problems. The maths problem becomes harder when more people are mining so that mining takes a fixed amount of time according to a timeline known to everyone. In order to respect this timeline, mining rewards are halved every few years. > > Since anyone who wants to validate transactions is forced to complete a very hard math problem (which becomes harder the more people are mining), no one can cheat in new transactions. Also, every other miner has a copy of the blockchain. Through making sure that no entity has 50% of the mining, you can stop nefarious actors from changing the blockchain. > > This is using cryptographic technology that I don't yet understand but you can read more about it here: > > [Bitcoin Wikipedia](https://fr.wikipedia.org/wiki/Bitcoin) > > Without delving more into the tech side of bitcoin. Which can also be explained through youtube videos here: [Bitcoin explained](https://www.youtube.com/watch?v=bBC-nXj3Ng4) > > The Metrics of Bitcoin are currently: 22400$ Per coin for a Market cap of 430 Bilions and a daily volume of 19 Billions. Bitcoin was shortly valued at 69000 usd during the ATH. > > Now let's dive into what is making Bitcoin so good. > > # Bitcoin is the king of POW: Why it matters and why we need a strong Bitcoin > > So as the title suggests it, the recent switch of ETH from POW to POS makes Bitcoin the sole serious POW cryptocurrency. In this write up, we are going to discuss the three main strength of Bitcoin, security, decentralization, and incentive for green energy production. Bitcoin is a highly liquid asset and has become nearly universally known as an investment. Many arguments have been made in favor of Bitcoin as an investment. It is interesting to delve into the limited supply of bitcoin. > ​ > Of course, the main feature of Bitcoin is the Permissionless aspect. This allows the unbanked to use a P2P service. > > # 1) Bitcoin: The Apex of Security. > > > Bitcoin is ultra secure thanks to its use of Blockchain technology and the way it is verified through proof of work. To explain this let me quote IBM: > > > > > Public blockchain networks typically allow anyone to join and for participants to remain anonymous. A public blockchain uses internet-connected computers to validate transactions and achieve consensus. Bitcoin is probably the most well known example of a public blockchain, and it achieves consensus through "bitcoin mining." Computers on the bitcoin network, or “miners,” try to solve a complex cryptographic problem to create proof of work and thereby validate the transaction. Outside of public keys, there are few identity and access controls in this type of network. > > > > [IBM on Blockchain security](https://www.ibm.com/topics/blockchain-security) > > ​ > Mining is measured in Hashrate. Here is the explanation of Hashrate: > > > > > Hash rate, sometimes referred to as hashrate, is a measure of the computing power on a cryptocurrency network that serves as a key security indicator. It measures the total computational power used by a “proof-of-work” (POW) cryptocurrency network to process transactions in a blockchain. > > > > [USNEWS explains hashrate](https://money.usnews.com/investing/term/hash-rate#:%7E:text=Hash%20rate%2C%20sometimes%20referred%20to,process%20transactions%20in%20a%20blockchain) > > ​ > So if the hashrate measures the security of the network, one may asks themselves: "Did the security of Bitcoin slowed when the price fell ?" > [The hashrate is near the ATH and growing making Bitcoin more and more secure as it continues to build over time](https://ycharts.com/indicators/bitcoin_network_hash_rate#:%7E:text=Basic%20Info,101.2%25%20from%20one%20year%20ago) > > ​ > So Bitcoin has never been as secure as it is today which makes it ultra valuable as a way to settle financial transactions. Yes holding Bitcoin for a long time is risky but using it as a medium to settle international transaction may currently be the securest and one of the best way to do so. > > > While Bitcoin is safe... what if a big part fails ? > > > # 2) Bitcoin mining: Too big to fail. > > So this write up could be seen as a POW write up, which it is to an extent. But Bitcoin offers its history and shows that it can survive the disparition of a big part of the network. > Decentralization allows for parts of the network to disappear and for the rest to take the mantle of securing the network. Yes, mining pools may grow too large for their own sake BUT in the end (nothing even matters) Bitcoin is heavily decentralized. It is so decentralized that, when China (which had a big part of Bitcoin mining) banned mining, Bitcoin just went through like nothing happened. Yes the hashrate fell a bit, the value too, but if we look back, it was nothing extraordinary. > > The resilience of Bitcoin is largely due to the fact that the hashrate symbolizes competition=> If the hashrate falls, then it is more profitable for other miners to keep mining or for new miners to start mining. This balance is what makes Bitcoin very resilient. > ​ > So if Bitcoin is highly secure and if it can survive part of the hashrate going bye bye, what makes it so good? What is the difference with any POW Cryptocurrency right now? > > > > # 3) Bitcoin: propping up the green energy sector. > > POW uses energy. One of the biggest concern about POW is the energy. While Ethereum was using GPUs and was asic resistant. Bitcoin mining is built differently. A long time ago, under oath, people discussed the environmental impact of Bitcoin Mining and I made a post explaining what was said: > ​ > The Energy Fud Was Killed > The most important thing that happened: The narrative that Bitcoin is too energy intensive was totally reversed. > Experts of the sector explained that, Wind Farms and Solar Farms, have a variable load. This variable load means that sometimes they lose money because they produce too much and there is not enough demand. Bitcoin mining provides a variable base load for these projects. What it means is that, mining can be turned on and off depending on demand. It was revealed that most of these wind and solar farms would simply not exist without Bitcoin Farming as baseline customers. > There are still miners that are using coal plants and fossil fuel but the leaders of the industry are developing in tandem with the green energy sector. > > My write up about the congressional hearing is still true and thanks to the infrastructure act, green energy will continue to grow and to be cheap. This will allow for a better mining infrastructure. > > [My post](https://www.reddit.com/r/CryptoCurrency/comments/s99phv/yesterday_one_of_the_most_bullish_events_ever/) > > > # ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/100p7vq/top_coins_bitcoin_proarguments_january_2023/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin) to find arguments on this topic in other rounds.