That’s it. It’s over.
“Halving” is the perfect name for what just happened with bitcoin… because it is also what is going to happen to the value of bitcoin. Get out.
Sir, I have no issue admitting that you are a genius when it comes to marketing and promoting the home inspection industry, and im sure other aspects of life. But your take on Bitcoin is not one of those aspects. Selling now is terrible advice. Diamond hands > Paper hands
Thank you for InterNachi
Now that the ETFs are in and approved, Blackrock will not let BTC go to zero.
They were buying 7x the daily supply. Now they will be buying 14x the daily supply because of the halving. This supply constraint only gets tighter over time.
By 2034, no full bitcoins will be mined any longer only Satoshis(fractional bitcoins). My prediction at that point will be that full bitcoins will be 800k to 1 million per coin a 10x of today at the minimum.
People predict the death of bitcoin continuously. They’re wrong, they will continue to be wrong.
One is a famous twitter user that sold his stacks when BTC was $12. “It’s over, I’m out!” He’d be a billionaire today.
For what it’s worth, a few years ago, I did a presentation in front of the Crypto Club of The Villages about what a blockchain is and how it works. It’s fairly long but I think I did a pretty good job of explaining it. I’ve been around Crypto going on 12 years now, and I was an IT professional for 30+ years. I have a decent handle on what’s going on.
In this presentation, I briefly discussed The Halving, which at the time was 2 and a half years in the Future. The Halving happened two days ago. It is playing out exactly as I described it.
You can watch the presentation here:
https://www.youtube.com/watch?v=w3AMRQc2VV0
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What happens when it gets hacked and the systems go down. We all know there is no full proof cyber security out there. It will be hacked at some point. Plus what happens if the grid is hacked and there is no way to access any electrical devices? How do you access your “money”?
So you hack a node? And? The rest of the nodes reject the transactions, blacklist that compromised node and the chain moves on.
That’s the beauty of it. The a majority of the nodes have to agree to any code changes before they go live. If you find a flaw “TG gets all bitcoin transactions!!!”, the rest of the nodes reject it, that block is flagged, a new block starts, you’re blacklisted and the chain moves on.
It’s an open ledger. Everyone can see what everyone does. People have been trying to hack the BTC network, but the nature of it prevents bad actors. There have been attempts, they get rejected. You’d have to infect all the BTC nodes, all at once, all over the world and do it without getting noticed. It’s not possible.
If you’ve sent your BTC to your private wallet, you go somewhere else that does have power, get back into the network and get your money there.
If the electrical grid is down, you’ve got bigger problems. I would never suggest anyone have more than 1-2% of their portfolio in crypto. Physical gold and silver should be part of your plan as well.
That said, the gains to be made on BTC are still ahead of us. 10 years from now, it will be at least 12x what it is now and potentially 100x or more. Buy 1,000,000 Satoshis(about $650 right now), put it in a cold wallet, give it to your grandkids. By the time they are middle age, they’ll think grandpa was a genius.
I can see and feel your pain in trying to explain this to an elderly community. Reminds me of trying to explain to my Mom the internet, Wifi, smart phones, or just about anything else developed in the last decade or two.
And these are the people who are interested in it and open to it. You’d be amazed…we’re several years after that, and these same people are still members and they “get it now”.
We still have beginners but it’s interesting that these same folks now explain it to their friends and such.
The age demographic in The Villages is in a state of dynamic equilibrium. The ages stay about the same, but the people are different. The old school folks who use a Jitterbug phone are gone for the most part. There are plenty of people that grew up with tech now. Again, the age stays the same, but people are more tech saavy.
I need to join the club. I made it to the 7 minute mark or so and then my mind melted. 
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Did I need to blow horns and slide whistles to keep you interested? 
Maybe insert a few dancing girls behind me?
I get it, it can be a little daunting at first.
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Very daunting. I have tried to read about it a few times. I just haven’t been able to wrap my mind around it. I’m going to watch the rest of your video tomorrow. I think you are a good presenter of this type of stuff.
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Here’s the thing you need to remember.
It’s an open ledger.
That’s it.
It’s an open book: Mark sends 100 Satoshis to Ryan. (Satoshis are 1/100,000,000 of a bitcoin)
It uses cryptography to secure it. Whoever figures out the crypto puzzle, gets the reward. The rest is just all the little details.
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And to figure this puzzle, one must have a shat ton of computing power? These are the miners?
Yes, there are specialized computers that just crunch numbers called ASIC mining rigs. They have racks and racks and racks and racks of these.
They tend to place them near hydro power plants. Norway has them in mines near the hydro plants. It is free cooling and cheap electric.
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So, most of us cannot be miners. What is the very best next way to dabble in investing in cryptocurrency as an investment (as opposed to wanting to use it as currency)?
The “mining” facilities are already under “attack” by locals in certain states because of the extreme, annoying noise from the cooling fans. It’s to the point that locals are targeting these “mining” buildings to take them out of operation. How does this affect it, if at all?
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Buy some BTC, send it to a cold wallet and wait. If it’s not that much, you can leave it on an exchange.
I only recommend using Coinbase. They are publicly traded, audited and in no risk of going under.
If your numbers get up too high, get it off of the exchange and send it to a wallet for cold storage. It’s not hard to do, but if you’re just dabbling, you can keep it on an exchange.
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I read that article too. I’m not sure how all the computer fans are really that big of a deal, but frankly the operation will just move elsewhere.
Right now a bunch of miners will come off the network because of the Halving. It is not as profitable to mine as it was. This will lower the hash rate(the difficulty) and make it easier to mine again. This will in turn bring those other miners back.
Every time a mining operation shuts down, others will just step up and take their place. It’s creative destruction and there’s enough nodes all over the world that it really doesn’t make any difference.
No article here. First hand knowledge in rural NC. Hillbillies don’t like them and are taking them out. 
You didn’t hear that from me…
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