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  1. #481
    >unironically linking a paywall

  2. #482
    The Insane Acidbaron's Avatar
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    Recently there was some discussion about power consumption of bitcoin,

    Found this an interesting article; https://www.visualcapitalist.com/vis...itcoin-mining/
    “My philosophy is: It’s none of my business what people say of me and think of me. I am what I am and I do what I do. I expect nothing and accept everything. And it makes life so much easier.
    ― Anthony Hopkins

  3. #483
    Quote Originally Posted by Fluttershy View Post
    >unironically linking a paywall
    >unironically complaining about "big noses" and Illuminati.
    Expansion leak claiming Legion is the last expansion
    Quote Originally Posted by golds
    NO it will be me laughing at how you doubted this....
    Quote Originally Posted by golds
    I was right

  4. #484
    The Insane Acidbaron's Avatar
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    https://www.reuters.com/world/china/...es-2021-05-24/

    Cryptocurrency miners, including HashCow and BTC.TOP, have halted all or part of their China operations after Beijing intensified a crackdown on bitcoin mining and trading, hammering digital currencies amid heightened global regulatory scrutiny.

    A State Council committee led by Vice Premier Liu He announced the crackdown late on Friday as part of efforts to fend off financial risks. It was the first time China's cabinet has targeted virtual currency mining, a sizable business in the world's second-biggest economy that some estimates say accounts for as much as 70% of the global crypto supply.


    -yikes-
    “My philosophy is: It’s none of my business what people say of me and think of me. I am what I am and I do what I do. I expect nothing and accept everything. And it makes life so much easier.
    ― Anthony Hopkins

  5. #485
    Quote Originally Posted by Acidbaron View Post
    https://www.reuters.com/world/china/...es-2021-05-24/

    Cryptocurrency miners, including HashCow and BTC.TOP, have halted all or part of their China operations after Beijing intensified a crackdown on bitcoin mining and trading, hammering digital currencies amid heightened global regulatory scrutiny.

    A State Council committee led by Vice Premier Liu He announced the crackdown late on Friday as part of efforts to fend off financial risks. It was the first time China's cabinet has targeted virtual currency mining, a sizable business in the world's second-biggest economy that some estimates say accounts for as much as 70% of the global crypto supply.


    -yikes-
    Chinese crackdowns aren't known for their soft touch.

    I wonder where they will move, perhaps Russia? (Due to large fossil fuel supply.) And how that will play out geo-politically.

  6. #486
    The Lightbringer Strawberry's Avatar
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    So a few days after I made my post, Bitcoin dropped to $31k and now is at nearly $40k.

    Expect it to grow higher. Elon is shilling it again, lol.
    He will do so for another month. After that is hard to predict. But probably stagnate until the next major announcement.

    Watch Elons Twitter. As soon as that man mentions something about Bitcoin or crypto, buy or sell.

  7. #487
    I am Murloc! hellhamster's Avatar
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    Musk obviously FUDed bitcoin's environmental prospects to greenify the mining and sell his own """"""green energy"""""" technologies, look at his tweets.

    Technically speaking, 100k BTC is still more than likely this year. It's been way too far ahead of schedule so far, hence the crash. We are seeing an intermediary top (not a blowoff top), a crash, a bearish downtrend due to FUD, rising inflation warnings and whale manipulation, an accumulation period proven by the Wyckoff distribution model which has played out exactly, and a bull run continuation probably a couple months later. This is supported by two things:

    1.The DXY is taking a huge dump. The DXY is inversely correlated with bitcoin for those who don't know. The only thing that will be bad for bitcoin right now is if the DXY double bottoms and starts pumping hard, in that case bitcoin will plummet to the 20k range. Personally, I think that this is very likely. Bitcoin will recover pretty hardcore if that happens though. You can't have pumps without dumps.

    2. BTC lengthening cycles and the stock to flow model. Though not a foolproof model, it's been very accurate in its 9 years of existing.

    However, I am also seeing something pretty bad in the last couple of months, and that has to do with soaring inflation affecting interest rates. We are already seeing articles last week about inflation in the US reaching 4.5% already when the FED projected 2%. I made a thread about it a few months ago calling it exactly before most people realised what's happening. I was booed off the stage in that thread... Despite all that I honestly thought we had a few more years. Anyways, when the shit hits the fan, it will be absolutely catastrophic for all markets involved. Fear will be a very strong motivator to sell everything.
    Last edited by hellhamster; 2021-05-25 at 09:24 AM.

  8. #488
    Quote Originally Posted by Strawberry View Post
    So a few days after I made my post, Bitcoin dropped to $31k and now is at nearly $40k.

    Expect it to grow higher. Elon is shilling it again, lol.
    He will do so for another month. After that is hard to predict. But probably stagnate until the next major announcement.

    Watch Elons Twitter. As soon as that man mentions something about Bitcoin or crypto, buy or sell.

    Call me when it hits 65k again. Boomercoin is vaporware trash. the AOL of all DLTs.

  9. #489
    Warchief Magical Mudcrab's Avatar
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    Quote Originally Posted by Forogil View Post
    Chinese crackdowns aren't known for their soft touch.

    I wonder where they will move, perhaps Russia? (Due to large fossil fuel supply.) And how that will play out geo-politically.
    To be honest, miners moving to Russia would be the funniest thing ever. After all the delusion about Crypto actually being good for the environment by incentivizing innovation, sucking up thousands upon thousands of fossil fuels to maintain hashrate would be hysterical.

    > Guys, we really care about the environment, until it hurts the bottom line. Then fuck the environment, it's no longer a shield we can use to hide behind.
    Sylvanas didn't even win the popular vote, she was elected by an indirect election of representatives. #NotMyWarchief

  10. #490
    The Lightbringer Strawberry's Avatar
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    Quote Originally Posted by hellhamster View Post
    Musk obviously FUDed bitcoin's environmental prospects to greenify the mining and sell his own """"""green energy"""""" technologies, look at his tweets.

    Technically speaking, 100k BTC is still more than likely this year. It's been way too far ahead of schedule so far, hence the crash. We are seeing an intermediary top (not a blowoff top), a crash, a bearish downtrend due to FUD, rising inflation warnings and whale manipulation, an accumulation period proven by the Wyckoff distribution model which has played out exactly, and a bull run continuation probably a couple months later. This is supported by two things:

    1.The DXY is taking a huge dump. The DXY is inversely correlated with bitcoin for those who don't know. The only thing that will be bad for bitcoin right now is if the DXY double bottoms and starts pumping hard, in that case bitcoin will plummet to the 20k range. Personally, I think that this is very likely. Bitcoin will recover pretty hardcore if that happens though. You can't have pumps without dumps.

    2. BTC lengthening cycles and the stock to flow model. Though not a foolproof model, it's been very accurate in its 9 years of existing.

    However, I am also seeing something pretty bad in the last couple of months, and that has to do with soaring inflation affecting interest rates. We are already seeing articles last week about inflation in the US reaching 4.5% already when the FED projected 2%. I made a thread about it a few months ago calling it exactly before most people realised what's happening. I was booed off the stage in that thread... Despite all that I honestly thought we had a few more years. Anyways, when the shit hits the fan, it will be absolutely catastrophic for all markets involved. Fear will be a very strong motivator to sell everything.
    Don't you think that's going to have a completely opposite reaction and boost crypto? Maybe not immediately but in the long run.
    Crypto is universal across the world.
    When your money loses worth and keeps going down, you don't buy more of it. I wouldn't

  11. #491
    I am Murloc! hellhamster's Avatar
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    Quote Originally Posted by Strawberry View Post
    Don't you think that's going to have a completely opposite reaction and boost crypto? Maybe not immediately but in the long run.
    Crypto is universal across the world.
    When your money loses worth and keeps going down, you don't buy more of it. I wouldn't
    In the long term when there's adoption, you are obviously correct. However, right now it's a speculative asset, which essentially moves as stocks do.

    When the DXY is down, crypto is up.
    When (tech) stocks are down, crypto is down.

  12. #492
    My friend makes a good profit on this speculative asset now,
    so if he can do it, then why not do it?

  13. #493
    Quote Originally Posted by BdazmedPrim View Post
    My friend makes a good profit on this speculative asset now,
    so if he can do it, then why not do it?
    Because history shows they-Most people will make one too many bets on a speculative asset and lose everything they made.

    the let it ride atmosphere of these type of investments always catch up with the majority of them
    Buh Byeeeeeeeeeeee !!

  14. #494
    What do you think, how much time would it take for Bitcoin to have a price of 50+ grands again?

  15. #495
    Quote Originally Posted by gordon15wp View Post
    What do you think, how much time would it take for Bitcoin to have a price of 50+ grands again?
    they are too busy driving up AMC and other meme stocks 100% today. give it a week or two when they pump another POS maybe it will be some crypto

    maybe it will get to 100 grandS soon
    Buh Byeeeeeeeeeeee !!

  16. #496
    I am Murloc! hellhamster's Avatar
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    Quote Originally Posted by Zan15 View Post
    they are too busy driving up AMC and other meme stocks 100% today. give it a week or two when they pump another POS maybe it will be some crypto

    maybe it will get to 100 grandS soon
    What does AMC have to do with bitcoin?

  17. #497
    Quote Originally Posted by hellhamster View Post
    What does AMC have to do with bitcoin?
    outflow from crypto to meme stocks and then back into crypto with the profits. The focus of this army of "retail reddit" investors has turned so many times its getting hard to keep track. this includes massive swings when they push into a given crypto like dogecoin as a single coordinated force.
    Buh Byeeeeeeeeeeee !!

  18. #498
    I am Murloc! hellhamster's Avatar
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    Quote Originally Posted by Zan15 View Post
    outflow from crypto to meme stocks and then back into crypto with the profits. The focus of this army of "retail reddit" investors has turned so many times its getting hard to keep track. this includes massive swings when they push into a given crypto like dogecoin as a single coordinated force.
    I don't think you have any idea what you're talking about.

  19. #499
    Quote Originally Posted by hellhamster View Post
    I don't think you have any idea what you're talking about.
    People don't rotate out of one asset to another, from one stock to another, from stocks to bonds.....??
    Damn I wish I didn't have to put all my money in one place and be forced to keep it there forever!!!



    Based on reading WSB for months now that's exactly what is happening as people follow the trend. You see the same bunches of people in crypto forums as you do WSB.

    There is sometimes a correlation between one asset class movement vs another's movement.
    Buh Byeeeeeeeeeeee !!

  20. #500
    Quote Originally Posted by gordon15wp View Post
    What do you think, how much time would it take for Bitcoin to have a price of 50+ grands again?
    Never, it's a shitcoin. May everyone who invested in it(outside of the sods who got in at under 10k) live in destitution. It's gonna be hilarious laughing at them while my hedera investments skyrocket after CBDC adoption.

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