I believe that BTC price is determined by an alcoholic garden fairy, named Phil. He takes his most recent Pacman score (he plays nearly everyday) divides it by the middle two digits of a random phone book entry, then multiplies it by the number of things he can see that begin with the letter 'F'. That, to the power of 3 and dived by Pi, is the current value of BitCoin.

Haha, you write really well. Reminds me of Douglas Adams.

Kudos.

I've posted this before on here but when the Silk Road was a thing (around 2014), I bought 46 bitcoin for $9 each. Spent them all on drugs.

Didn't save any.

Apparently you live and learn but that was a hell of a pill to swallow when they went to $10,000 a piece!

Oh well. Fuckabix.

Cheers BB

Feel your pain here but. I've bought copious amounts of bitcoin at £9, £12, £18 in bigger quantities and did exactly what I intended to use them for, buying weed ha. Which was incredible at the time. No regrets, we weren't to know. It was a lot of new scarily complicated information at the time and a lot to figure out. I'd try spend mine as quick as possible as overnight they were way less or sometimes way more, this use to baffle and scare me ha

oh that bigga

Wrong you forgot to multiply by infinity at the end.

Pretty much all coins vary in value like stocks do. There is finite supply of coins based on mining, which is using processor power to solve pieces of the block chain which gets more difficult as it progresses. However no matter the amount of coins that are availible if they are not wanted then the price goes down.

Often times certain events influance the demand for the currancy. The reason it went down this time was due to a Coinbase announcement that they where not going to be allowing BCH trades for a specific period after the hard fork that happened just recently. A big BTC holder sokd off a shiload of coin which started it to drop and of course others started following suit and sold off their coin as well. There are also things like market corrections, people pulling out to invest in stock or alt coins and a bunch of other random shit. Some of which is predictable and others very much not so.

Hope that kinda sumarizes things.

Shouldn't that coinbase announcement help BTC as it's a substitute for BCH?

The cryto world is even more fickle then the actual stock market. CoinBase is one of the biggest market places / sellers of crypto so it put a lot of people on edge. Been downward a lot since then.

Supply and demand. Not being short here but every price comes down to that.

OK what determines supply and demand?

Supply is limited by mining difficulty so it's always growing at a slower rate. Basically coins are getting harder and harder to mine.

So the bitcoin value should be increasing not decreasing?

I noticed my wallet went down a couple days ago, the pound happened to drop at the same time, is this just purely coincidental?

You also have the halving coming up, which will further reduce supply, unlike quantative easing from fiat currency.

It's an indicator of techno optimism and government pessimism.

Fork before dystopia

metaverse exit economy

crypto utopian community

Luvin The Mailman

My postman is obviously a stoner, just the way he carries the back all slung back on his shoulder gives it away but he also looks like Wayne (or Garth I can't remember which one is which). I keep thinking I should offer him a bowl of the good shit but he delivers so much weed to me I think I'd be putting him in a bad position.

and inviting him to start stealing it.

I seem to get the same guy who gives me the look. He knows the print 😂

Community over capitalism

movement of jahPeople

Yessiah

apple of anarchy

The Internet's pilgrims

jizz in pants

silence not violence

peaceful anarchist's cookbook

portal to post-humanity

Feels Like Heaven

Waitrose of weed

Lol

 🤣

The future's arrived

capitalism using communism

love my biggaz

yeah fuck them otha biggaz

Cuz im down wit my biggaz

Accidentally found Utopia

Utopia Strikes Back

Changed my life

unfuck the world

The way forward :)

Dib dibba dee

Break dumb rules

Smoke Weed Everyday

RIP Nate Dogg

The crypto generation

Naive is good

me like this

Forever Loving Jah

Shoulda known sooner.

Am I dreaming?

Best place ever

L. ovely
B’. loody
S. toners
!!! !!!!!

like it

how about LBC

lovely bloody cannabis

Stress free life

Yes yes yes

New Revolution's Barricade

A Big Relief

Heaven on web

Amazing. Lifesaver. Community.

Freedom's Last Hope

Unlocking the lockdown

A Divine Influence

my life saver

scattered persona ownership

Craigslist with reputations

cheap juxtaposition, no?

media as society

POWER OF MANY

Privacy By Design

"big little revolution"

The Good Guys

Like the stereo shop?

+1 for 80s reference

atado con alambre

Books not Crooks

Craigslist fucked Reddit

quantum effects biggest

Only 2 needed: Autonomy collective

Its bloody awsome

ultimate identity ownership

You got me.

Relax in piece - RIP

Happily ever after.

Home sweet home.

Sunshine at night.

Just 3 words?!

ok 3 more

Boards don't hit-back.

Miracle discreet club

My happy place

Castigat redendo mores!

Pretty fucking gangsta

Elegant social media

Swerving shit dealers

Lol that's poss the best 3 words. Esp goin by the shit that appears in my area as "weed". And the wannabes selling it

internet in charge

Machine Got Funk

Dream come true

Pluck up courage

Feels almost legal ;)

saving the ostracised

New age ninjas

EXIT THE SYSTEM

Up Yours Pharma! 🖕

revolution is process

confirmation based intelligence

The Peoples Square

Safe , Friendly , Discreet

Saviour of solitude

Absolutely fucking amazing

Amazon but weed

A deserts oasis

dream come true

The Holy Grail

Amazing discovery made

Fucking gold mine

Safe reliable discreet

Help Humanity Hope

good shit, always.

Joyful wallet minimiser.

Worth the risk

empty your wallet

highest common denominator

just like magic

Fuck King Awesome

Absolutely bloody awesome!

better than christmas

Flowers with powers

Builds Not Guilds

Cronyism between machines

ALL PEOPLES DOMINION

Good or Die.
Mothafucka

The Dogs Bollocks

Keeps me sane!

Changed my life