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Offline Rushy

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Re: Ask Rushy about Bitcoins.
« Reply #540 on: February 26, 2021, 02:20:34 AM »
Does the mining time per bitcoin fluctuate with it's value?

No, the block time for the Bitcoin network is always targeted to be 10 minutes (it's usually something closer to 9.5 minutes). Since bitcoin mining is such a large scale task these days, the hash rate doesn't respond very quickly to price changes.

Re: Ask Rushy about Bitcoins.
« Reply #541 on: March 09, 2021, 04:46:07 AM »
What's your favorite crime to pay for with Bitcoin? Please be specific and includes as many dates, times, and locations as possible.
You don't think I'm going to post here sober, do you?  ???

I have embraced my Benny Franko side. I'm sleazy.

Re: Ask Rushy about Bitcoins.
« Reply #542 on: May 19, 2021, 04:44:19 PM »
Tom: "Claiming incredulity is a pretty bad argument. Calling it "insane" or "ridiculous" is not a good argument at all."

TFES Wiki Occam's Razor page, by Tom: "What's the simplest explanation; that NASA has successfully designed and invented never before seen rocket technologies from scratch which can accelerate 100 tons of matter to an escape velocity of 7 miles per second"

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Offline Rushy

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Re: Ask Rushy about Bitcoins.
« Reply #543 on: May 20, 2021, 01:02:28 AM »
"China bans bitcoin!" ... for the tenth time. Amazing that this still works after all these years. Give me your cheap coins, losers, better hurry, China really means it this time!

For those who are unaware, the Chinese government is large and complex (obviously being the largest country in the world isn't easy). The regulatory environment in each province can be tough to handle and so Chinese miners end up having to dump their stash at various times (it almost always gets timed to a bullrun, imagine that). They're usually just chasing the taxes.

This works time and time again because Bitcoin is still a fledgling thing and during bullruns the majority of investors are always lemmings who have no idea that this has happened before. The only time you should have taken China seriously was in 2012. Any time after that is just an obvious ploy to get you to dump your coins. Don't fall for it...
« Last Edit: May 20, 2021, 01:06:14 AM by Rushy »

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Offline Rama Set

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Re: Ask Rushy about Bitcoins.
« Reply #544 on: May 20, 2021, 01:21:31 AM »
China flexing their scope on the world is just their playbook in everything these days.
Th*rk is the worst person on this website.

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Offline Pongo

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Re: Ask Rushy about Bitcoins.
« Reply #545 on: May 24, 2021, 09:52:04 PM »
Rushy, I have lost dozens of dollars in crypto. When should I sell?

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Offline Rushy

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Re: Ask Rushy about Bitcoins.
« Reply #546 on: May 26, 2021, 10:57:46 PM »
Rushy, I have lost dozens of dollars in crypto. When should I sell?

Never sell.

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Offline Shane

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Re: Ask Rushy about Bitcoins.
« Reply #547 on: May 27, 2021, 12:28:31 AM »
Rushy, I have lost dozens of dollars in crypto. When should I sell?

Never sell.

The particle person theory... you simply hold forever
Quote from: Tom Bishop
wow triggered

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Offline Pongo

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Re: Ask Rushy about Bitcoins.
« Reply #548 on: May 27, 2021, 02:43:13 AM »
Rushy, I have lost dozens of dollars in crypto. When should I sell?

Never sell.

If I never sell then what's the difference between buying crypto and simply lighting my money on fire? Lighting it on fire at least provided me warmth.

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Offline Rama Set

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Re: Ask Rushy about Bitcoins.
« Reply #549 on: May 27, 2021, 04:32:58 PM »
Rushy, I have lost dozens of dollars in crypto. When should I sell?

Never sell.

If I never sell then what's the difference between buying crypto and simply lighting my money on fire? Lighting it on fire at least provided me warmth.

You can borrow against your position.
Th*rk is the worst person on this website.

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Offline Pongo

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Re: Ask Rushy about Bitcoins.
« Reply #550 on: May 27, 2021, 09:21:58 PM »
Rushy, I have lost dozens of dollars in crypto. When should I sell?

Never sell.

If I never sell then what's the difference between buying crypto and simply lighting my money on fire? Lighting it on fire at least provided me warmth.

You can borrow against your position.

You must think me one of great wealth. Let me divorce you of that notion.

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Offline Rama Set

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Re: Ask Rushy about Bitcoins.
« Reply #551 on: May 28, 2021, 02:53:42 PM »
Rushy, I have lost dozens of dollars in crypto. When should I sell?

Never sell.

If I never sell then what's the difference between buying crypto and simply lighting my money on fire? Lighting it on fire at least provided me warmth.

You can borrow against your position.

You must think me one of great wealth. Let me divorce you of that notion.

My response wasn’t about you specifically. It’s about how you can generate wealth from unrealized gains. Borrow against the position and invest in something you plan to liquidate for a gain.
Th*rk is the worst person on this website.

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Offline Pongo

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Re: Ask Rushy about Bitcoins.
« Reply #552 on: May 28, 2021, 03:10:12 PM »
Rushy, I have lost dozens of dollars in crypto. When should I sell?

Never sell.

If I never sell then what's the difference between buying crypto and simply lighting my money on fire? Lighting it on fire at least provided me warmth.

You can borrow against your position.

You must think me one of great wealth. Let me divorce you of that notion.

My response wasn’t about you specifically. It’s about how you can generate wealth from unrealized gains. Borrow against the position and invest in something you plan to liquidate for a gain.

Ah, I see the confusion, I said "If I never sell..." but you thought I said, "If a theoretical individual with the potential to have vast sums of wealth tied up in crypto never sells..."

Easy mistake.

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Offline Rama Set

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Re: Ask Rushy about Bitcoins.
« Reply #553 on: May 28, 2021, 06:54:45 PM »
Not strictly a mistake, but k. Stop being a poor pleb is my advice to you specifically. Seems like a dumb move.
Th*rk is the worst person on this website.

Re: Ask Rushy about Bitcoins.
« Reply #554 on: June 15, 2022, 08:54:17 AM »
Tom: "Claiming incredulity is a pretty bad argument. Calling it "insane" or "ridiculous" is not a good argument at all."

TFES Wiki Occam's Razor page, by Tom: "What's the simplest explanation; that NASA has successfully designed and invented never before seen rocket technologies from scratch which can accelerate 100 tons of matter to an escape velocity of 7 miles per second"

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Offline Rushy

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Re: Ask Rushy about Bitcoins.
« Reply #555 on: June 15, 2022, 01:36:02 PM »
Bitcoin CRASHES to only $21,335 each!

In order to match the previous power of Bitcoin crashes (which it obviously recovered from). The price should be approximately 90% of the all-time-high (which is about $68k). I suspect Bitcoin will go back down to about $10k. This is unthinkable for the people who bought in within the past year or so, but they'll get over it. They'll sell and kick themselves when it's at $1 million each by 2030.


« Last Edit: June 15, 2022, 01:38:48 PM by Rushy »