Nothing being walked back. A shitpost gets a shit response. Always happy to engage crypto cynics or skeptics who are have genuine questions.
OT: Bitcoin, Altcoins, NFT's & All Things Crypto
- Thread starter bob-loblaw
- Start date
Bob-law = is it not true that transaction/payment fees that are currently charged by processors/banks are simply replaced with much higher and/or variable energy fees/costs charged by utility companies for BTC mining operations? Also, from what I understand, private blockchains do not need BTC-like mining ops because it’s not decentralized = therefore, doesn’t the whole mining structure seem incredibly inefficient? Private blockchains have less nodes, are more secure because identities of members are known, and rely on algorithms that don’t require massive computing costs. Seems to me that there must be a better way to achieve PoW without native tokens.
Black Hills Signs Deal to Power Bitcoin Mining in Wyoming
The publicly traded utility will deliver up to 75 megawatts of power to a new mining operation in Cheyenne.
What are the basics of a lightning transaction?
Is it something like, a consumer downloads the app, connects it to a bank account, then during the transactions cash transfers to btc with immediately transfers back to cash which the seller, who also has a lightning app collects?
Ie, neither party needs to own bitcoin in the transaction?
Saw a lady on CNBC a month or so ago, and she said the one use case which BTC is currently able to do, is transfer large amounts of money quickly and without much in terms of transaction fees.
She didn't think there was much else real world uses currently.
Of course that can change, see lightning transaction discussion above. And while she did say the large sum transaction was currently something BTC could be used for, I don't think she said how often it is actually used for it.
She didn't think there was much else real world uses currently.
Of course that can change, see lightning transaction discussion above. And while she did say the large sum transaction was currently something BTC could be used for, I don't think she said how often it is actually used for it.
A bit is putting it mildly. It's going to get real ugly the next few mos.
I can see more crypto funds going under, the house of cards is in the defi/lending space is going to keep crumbling as its realized how many tokens or wrapped tokens/coins were just stacked on top of other firms holdings like 3AC.
There's some US miners who dont have the balance sheet to make upcoming equipment payments. They're going to be forced to liquidate their btc holdings.
I would not be surprised to see my 15k btc limit order get filled in August.
And yes I will continue to buy. btc & ELA are the only two I care about. ELA could easily 100x if it ever sees web3 adoption. Those odds are quite low, but at $1.50 a coin it's the only non btc entity I'll push $$$ into
Roger Ver, aka “Bitcoin Jesus” (lol), who was the CEO of Bitcoin.com, has defaulted on a $47 million margin loan. Wonder if we see a resurrection in three days.
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Now is the time to be patient and watch. A lot of the "bad" players in the crypto space are going to be taken to the woodshed. Plenty of short-term pain, but overall, it's a long term benefit.
I pulled everything out of Voyager 2 weeks ago to be on the safe side. Pretty much have everything in my ledger now.
I actually just advised a friend with a large amount of assets on there to do the same.
We're now seeing the highest rate of btc withdrawals form exchanges in btc's history.
As expected. Now may be a nice time for a GBTC play:
www.cnbc.com
Grayscale sues SEC after rejection of bid to turn the largest bitcoin fund into an ETF
The U.S. Securities and Exchange Commission cited a failure by Grayscale to answer questions about concerns around market manipulation.
BTC shooting up atm
www.forbes.com
$72 Billion ‘Diamond’—Wall Street Giant Issues A Shock Bitcoin Price Prediction Amid Continued Ethereum, BNB, XRP, Solana, Cardano And Dogecoin Crypto Crash
Wall Street giant Deutsche Bank has issued a bullish bitcoin price prediction—forecasting the $2 trillion crypto crash could be coming to an end and comparing bitcoin to the $72 billion-a-year diamond industry...
www.forbes.com
Well that was a garbage link if I've ever seen one.BTC shooting up atm
$72 Billion ‘Diamond’—Wall Street Giant Issues A Shock Bitcoin Price Prediction Amid Continued Ethereum, BNB, XRP, Solana, Cardano And Dogecoin Crypto Crash
Wall Street giant Deutsche Bank has issued a bullish bitcoin price prediction—forecasting the $2 trillion crypto crash could be coming to an end and comparing bitcoin to the $72 billion-a-year diamond industry...
For anyone looking to really get insight into what's going on in crypto, I suggest you follow @DylanLeClair_, @nic__carter and @_Checkmatey_ on Twitter. They're all btc bulls who study onchain activity as well as the macro environ. Dylan has been dialed in aggressively into what's going on in the space. Highly recommend those follows for anyone looking for real insight
Thanks for the info. Saw btc shooting up wasn't sure if that news was moving it. Will def follow your suggestions.
Interesting thread on the possible future of coins and the shift from ponzinomics to utility…
Yup - isn’t this what I’ve been saying for the last year or more on this thread…?
Yes and no. You’ve been right as most of us have about useless meme coins. But you’ve been dismissive of NFT’s and utility coins that are already out there doing what this thread references or those that are actively building the ecosystem needed to support it.
Kind of. You've been anti-coin/token aspect of blockchain.
Any which way, this leverage flush is a good thing long term. I dont think the floor is in yet.
What's been interesting is the two different groups buying the dip; retail-less than 2 coins and whales. We're going to keep trading sideways. Any new whales or institutional buyers are not going to make a huge spot purchase. This 15 - 25k sideways range is going to continue until either a spot etf gets approved or a major institution announces a large purchase.
I hope none of you, like me, held your crypto in the Voyager app. They are suspending all trading and seemingly shutting down. Can’t access your money or coins. Total bummer. A legitimate Ponzi scheme like the rest of this ridiculous crypto scam.
5 figures down the drain…. Should never listen to “friends” on investing.
5 figures down the drain…. Should never listen to “friends” on investing.
I took my coins out a couple weeks ago thank god. I wouldn’t say it’s down the drain, but might be locked up for a bit.
I believe that the world can still derive the benefits of blockchain without the silly coin/token structure. Or, coins/token must be tied to a physical or virtual asset in some way. Otherwise it’s just the greater fool theory.
Yes, dismissive of NFTs like BAYC or the kiddie art selling for thousands of dollars. However, NFTs that are tied to retail and the metaverse have merit and strong use cases.
Lol, you literally cut off the second part of my message that said exactly what you responded with. Well done.
Aldo will eventually see the light. I have faith.
He asks the right questions and is not a d about it, like must people who are skeptical of crypto are.
Not so bold call here.... A whale or institution is going to try to blow up Celsius at their liquidation price of 12.2k btc. I didnt think we'd see sub 15k btc, but if it gets close you're going to see it happen; there's too much money to be made if they get liquidated. So sadly, we could be looking at a 10k floor.
Good news here the new Celsius liquidation price is now sub $5k btc, meaning I highly doubt we see sub 15k btc
Considering they just filed for bankruptcy in the past hour or so, no.
I'm operating under the guise of the implosions are going to continue. To many firms / tokens were leveraged on top of each other. It's going to end poorly for a lot of folk.
I pulled all my yield earning btc & eth off of Gemini "earn" back in May. I recently pulled all coins/tokens off Kucoin and a few of the other random exchanges I've used. I'm not concerned about Gemini. The others.... you never know.
By the end of the year, most of the dominoes should fall. btc will probably trade sideways for a while, with multiple fake outs. Unless of course theres more institutional buy in
LOL. Just saw that as well. COIN and the other big guys should be fine, but you never know right now.
Sam seems to think the worst of the liquidations are over
Crypto exchange FTX has 'a few billion' to support industry - Bankman-Fried
Sam Bankman-Fried, head of one of the largest cryptocurrency exchanges, FTX, said he and his company still have a “few billion” on hand to shore up struggling firms…
Sam seems to think the worst of the liquidations are over
Crypto exchange FTX has 'a few billion' to support industry - Bankman-Fried
Sam Bankman-Fried, head of one of the largest cryptocurrency exchanges, FTX, said he and his company still have a “few billion” on hand to shore up struggling firms…financialpost.com
Hope he's right, but I foresee more damage. The ongoing btc being pulled from exchanges is going to shake some echanges/platforms out. June saw the highest outflow of btc to cold storage in history
Similar to the Porsche idea that @RUAldo mentioned recently. Probably a bit too pricey. Minimum bid was 206 eth (@$235k at the time)
www.theverge.com
No bids on Chevy’s first NFT, even though it came with a free Corvette Z06
Chevy said the auction was “educational.”
www.theverge.com
Good quote in the tweet thread - "A publicly traded crypto financial services company is like a risk turducken."
a decade from now, we'll look back and cringe at what a steal this wasSimilar to the Porsche idea that @RUAldo mentioned recently. Probably a bit too pricey. Minimum bid was 206 eth (@$235k at the time)
No bids on Chevy’s first NFT, even though it came with a free Corvette Z06
Chevy said the auction was “educational.”
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