Btc gets mined on the block chain and then put out there for you to purchase. Think of how like a mining company may mine say, 1 ton of gold a day. Basically most miners could mine about 12 btc per block before 2020 I think, then after the halvening that year, it's 6, 2024 it'll be 3 and 2028 it will be 1.5, so essentially miners will be mining less and less and less btc until it's at the point only fractions of it will be mined per day making it deflationary as fukk because it'll take more work to produce less and less of it every 4 years until it's nothing left. So the more you can get now the less everyone else will get because it's only 21 mill total that can be mined...........but 18 mill already have! Also dyor that was like a laymen's explanation
1 BTC = $8.2k, it’s up 735% this yr UPDATE 5/19: BTC @ $42k :damn:
- Thread starter JordanWearinThe45
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Veteran
ahhh hell nah lmao.
It’s not 40%
heisenburrr
Have Fun Staying Poor
Ezekiel 25:17
Veteran
Bitcoin is way to late to get in at this point. I'm looking into Ethereum.
Ezekiel 25:17
Veteran
If Bitcoin hits 100k in the future, what's the potential of Ethereum? Is it a good coin to get into?
heisenburrr
Have Fun Staying Poor
Bitcoin can still 5x in a year time, 10x isnt out of reach in this cycle.
Still best risk ajusted returns you can get anywhere on market
Ezekiel 25:17
Veteran
I just put $240 into Ethereum now, shyt is only .14 of a coin
It's crazy because this shyt was $100 in March
It's crazy because this shyt was $100 in March
TRX about to make a run like Doge??? I've been holding this bag for 3 years, will feel good to jump out on any type of profit.
It's not too late. That's not to say there can't be a pullback/correction, but people have been saying for years that it's too late, and all that happens is BTC goes up as the majority of alts don't keep pace with BTC.
Ezekiel 25:17
Veteran
Yeah but I can't afford BTC like that. Ethereum I can slowly, but surely cop 1 coin.
The cheaper the coin, the more I can gain. People been talking about XRP, so I might drop $500 into that.
Potential is pretty big because it's laid the foundational network for Defi. A 100k btc means people are going to flip a shytload of profit into eth for the 2.0 staking upgrade, actually staking and lending anywhere. And I also think eth is going to take a lot of the concepts of projects like polkadot and piggy back off of them. 100k btc means extra funding for the alt market. Def something I'm investing in now.
You don't have to purchase an entire coin.
If you put $500 in BTC v.s. another coin, no matter the coin, and BTC goes up more percentage wise, then you'd be better with BTC.
I'm not going to tell you what to do one way or another, but most people that have struggled in this space do so because they think BTC is too costly, and put it into some trash. Not saying ETH specifically, but generally speaking.
Hope you make good money though on whichever coin(s) you go with.