General Cryptocoin Discussion

[R-T-B]

Depends if it's a meme : )

Of course it'd be a meme, are you kidding man?

 

[80-watt Hamster]

The push-pull between crypto as a currency vs. as a tradable commodity is kind of fascinating. For the first to work (its ostensible purpose), you need stability. For the latter, instability provides more opportunity for profit.

My knowledge of monetary history is pretty sparse. Does anybody know if the progression of crypto parallels the establishment of other historical means of exchange? Paper money, for example, grew more-or-less organically out of people trading stamps as currency.

 

[Chomiq]

US leads Bitcoin mining as China ban takes effect

Research shows the US taking the top spot for global mining following a crackdown in China.

www.bbc.com

 

[R-T-B]

US leads Bitcoin mining as China ban takes effect

Research shows the US taking the top spot for global mining following a crackdown in China.

www.bbc.com

Missed the newspost at TPU I am guessing?

 

[MentalAcetylide]

Why the ‘Big Short’ Guys Think Bitcoin Is a Bubble

They really do raise some good points in this recent article(and I'm sure much of it has been mentioned here already in the past), which is why I say if you haven't gone into crypto early well before the peak of the hype and cashed out enough to at least break even or make a profit, its just a huge risk now. I think they're right in regards to it being just another bubble waiting to pop.

 

[R-T-B]

Why the ‘Big Short’ Guys Think Bitcoin Is a Bubble

They really do raise some good points in this recent article(and I'm sure much of it has been mentioned here already in the past), which is why I say if you haven't gone into crypto early well before the peak of the hype and cashed out enough to at least break even or make a profit, its just a huge risk now. I think they're right in regards to it being just another bubble waiting to pop.

I feel we are well beyond that now personally, but who knows.

 

[Outback Bronze]

another bubble waiting to pop

Just another one for the Bitcoin Obituaries matey ..

Bitcoin Obituaries - "Bitcoin is Dead" Declared 400+ Times (99bitcoins.com)

 

[MentalAcetylide]

Yeah, as much as I despise the idea of crypto-currency, hopefully nobody ends up going bankrupt or anything like that if/when it does crash hard. Wouldn't wish that on anyone.

 

[R-T-B]

Yeah, as much as I despise the idea of crypto-currency, hopefully nobody ends up going bankrupt or anything like that if/when it does crash hard. Wouldn't wish that on anyone.

There is no way it goes down without thousands (if not hundreds of thousands) of bankruptcies at this point. People just aren't sensible with their money.

Just another one for the Bitcoin Obituaries matey ..

Bitcoin Obituaries - "Bitcoin is Dead" Declared 400+ Times (99bitcoins.com)

I like how that site added a section for the (six now) Chinese "bitcoin bans."

 

[glsn]

There is no way it goes down without thousands (if not hundreds of thousands) of bankruptcies at this point. People just aren't sensible with their money.

evergreen

it happens with cryptos, it happens with everything else

 

[Outback Bronze]

This Mining operating is going to be powered by 100% renewable energy so please ease up on the BS about how much power BTC uses.

The network will on strengthen on renewable energy.

Byron Bay becomes the new home of bitcoin mining in Australia (afr.com)

 

[ShiBDiB]

Venezuela... hailed by crypto enthusiasts as revolutionary for adopting crypto widely as tender, is now literally selling services/goods for gold..

Bloomberg - Are you a robot?

Seems crypto isn't helping stem the absurdly fast fall of the bolivar (and economy as a whole).

 

[Deleted member 202104]

Venezuela... hailed by crypto enthusiasts as revolutionary for adopting crypto widely as tender, is now literally selling services/goods for gold..

Bloomberg - Are you a robot?

Seems crypto isn't helping stem the absurdly fast fall of the bolivar (and economy as a whole).

Venezuela ≠ El Salvador

 

[ShiBDiB]

Venezuela ≠ El Salvador

Venezuela also has an official crypto https://www.reuters.com/technology/venezuelas-economy-regresses-crypto-fills-gaps-2021-06-22/

May have overstated how well covered it was (El Salvador definitely got more news)

---

Also ethermine (a large ether pool) has started to discuss the future of staking when PoS is a thing.

https://twitter.com/x/status/1452630312475938833

 

[R-T-B]

Venezuela also has an official crypto

Yeah, a garbage, state managed one unlike every other crypto on the market.

The petro was predicted to be a joke at inception. No one hailed it as revolutionary, like, at all.

 

[Chomiq]

Interesting read:

Revealed: The Cryptoqueen's £13.5m London penthouse

The story of cryptocurrency scammer Dr Ruja Ignatova's London flat - and how her purchase was concealed.

www.bbc.com

 

[Chomiq]

Just what we need:

Get ready boys, Ryzen 9's are going out of stock.

 

[The red spirit]

Get ready boys, Ryzen 9's are going out of stock.

Not that there were any in stock to begin with.

 

[Chomiq]

Crypto US constitution bidder refunds hit by high fees

Investors in an ill-fated scheme to buy the rare US document are being offered refunds with a catch.

www.bbc.com

 

[Bomby569]

Sweden wants Europe to ban Bitcoin mining

Otherwise Paris climate change goals become impossible to meet.

www.pcgamer.com

not much impact to mining in general i would say as the EU isn't exactly a good place to mine, but for small operations this could free a lot of gpus

 

[Chomiq]

RIP

Mr Goxx, the cryptocurrency-trading hamster, dies

The rodent famous for his financial portfolio and trading cage died peacefully on Tuesday.

www.bbc.com

It's all up to Gremlins now:

 

[Chomiq]

Yakshemash?! Kazahstan is cold, winter is coming, power shortages don't look good, miners relocate:

Cryptocurrency miners grapple with major energy crunch in Kazakhstan

The country’s demand for electricity has risen by eight percent.

www.theverge.com

 

[Caring1]

Yakshemash?! Kazahstan is cold, winter is coming, power shortages don't look good, miners relocate:

Cryptocurrency miners grapple with major energy crunch in Kazakhstan

The country’s demand for electricity has risen by eight percent.

www.theverge.com

Lol, and a lot of those miners are supposed to have relocated from China to Kazakhstan due to the crypto mining ban in China and low cost of electricity in Kazakhstan.
Now they may have to pack up again.

 

[Caring1]

Meanwhile in Australia:

Crypto investors missing millions after 2 Aussie exchanges collapse

More missing millions.

 

[R-T-B]

Get ready boys, Ryzen 9's are going out of stock.

Not that there were any in stock to begin with.

I must've missed the memo, when I got mine on sale recently.