The anti-crypto thread

[BFG10K]

Great news, crypto's collapsing across the board: https://www.techpowerup.com/282380/...ions-in-less-than-24-hours-did-the-bubble-pop

Also China's banned crypto, though individuals can still have it: https://finance.yahoo.com/news/chinese-financial-payment-bodies-barred-122712260.html

The sooner this cancerous parasite is wiped out, the better.

 

[beginner99]

I'll just sit back and watch you lose your money in this scam. That is true understanding.

Yeah lol. Reminde me 10 years.

 

[VirtualLarry]

Crypto plunge is cautionary tale for public pension funds (msn.com)

Pensioners lose out, as crypto plunges.

 

[AdamK47]

Crypto plunge is cautionary tale for public pension funds (msn.com)

Pensioners lose out, as crypto plunges.

I'd be very upset with the dipshits managing the fund.

 

[Lost_in_the_HTTP]

Yay or Nay?

Bitcoin's price falls below $20,000 - UPI.com

Bitcoin has dropped 4.40% in the span of the last 24 hours, with its trading volume decreasing by 3.62%.

www.upi.com

...

 

[DrMrLordX]

Yay or Nay?

We're in a sideways period where the market can't make up its mind. Moving below $20k again just isn't big news, since BTC has already been there. Recently. ETH is falling again too. Nobody knows where the market will wind up. Too much buy pressure for it to really crash, but too many people profiteering on relatively small movements for upward momentum to build. Things are still unstable.

 

[dullard]

Yay or Nay?

Bitcoin's price falls below $20,000 - UPI.com

Bitcoin has dropped 4.40% in the span of the last 24 hours, with its trading volume decreasing by 3.62%.

www.upi.com

...

I'm a long term nay. But, even if you want to buy now, wait for the crash at the end of today.

 

[DrMrLordX]

I'm a long term nay. But, even if you want to buy now, wait for the crash at the end of today.

Yes, exactly. There's still a chance of someone dumping at the institutional level. The market might not stay down for long, but BTC could easily hit $12k and ETH could hit like $400. Regardless I think, right now, $1k is too expensive for ETH.

 

[Lost_in_the_HTTP]

Buy? ME?


I wouldn't buy if it hit a buck.

 

[DrMrLordX]

I wouldn't buy if it hit a buck.

Hah I'd load my bags up like crazy if it hit $1.

 

[Zorba]

Hah I'd load my bags up like crazy if it hit $1.

Yeah for $1 I'd buy a load. I'm still mad at myself for not loading up on AA when they are at 50¢ in Chapter 11. I knew the Chapt 11 was BS, but still figured the shares would be zeroed out. Came out of bankruptcy and the shares were worth like $45/ea.

 

[VirtualLarry]

Texas' power-grid operator is asking crypto miners to power down as the state's electricity system grapples with sky-high temperatures (msn.com)

Poor, poor, Texas. At the mercy of a heat wave, AND dealing with crypto mining firms.

 

[sdifox]

I thought Texas made a big deal of inviting crypto miners LoL?

 

[DrMrLordX]

I thought Texas made a big deal of inviting crypto miners LoL?

They did. ERCOT just doesn't have the power output to deal with the heat right now. Miners are apparently being good little boys and girls and halting operations during peak hours, so that's a plus, I guess.

 

[KMFJD]

rip voyager

 

[dullard]

rip voyager

I don't watch videos. Did that also mention RIP to Celsius that also filed for bankruptcy today? https://www.reuters.com/technology/crypto-lender-celsius-files-bankruptcy-2022-07-14/

 

[KMFJD]

I don't watch videos. Did that also mention RIP to Celsius that also filed for bankruptcy today? https://www.reuters.com/technology/crypto-lender-celsius-files-bankruptcy-2022-07-14/

i believe it did

 

[MrSquished]

i believe it did

At this point it's more of a surprise if some crypto related entity doesn't crash and burn that day.

 

[AdamK47]

It wouldn't surprise me if some of the top crypto bros in charge of these crypto schemes are currently engineering exit plans.

 

[dullard]

It wouldn't surprise me if some of the top crypto bros in charge of these crypto schemes are currently engineering exit plans.

Exit the business or exit the country?

 

[AdamK47]

Exit the business or exit the country?

A weak defense would make leaving the country very tempting if charges are likely. I doubt most will have to worry though.

 

[JEDI]

Bitcoin Might Fall to $13,000

Bitcoin Might Fall to $13,000. Miners Could Be to Blame.

Bitcoin miners have come under pressure from a one-two punch of rising energy costs and falling token prices—but they might finally be catching a break. The problem? It could come at the expense of Bitcoin prices.

www.barrons.com

the average production cost of Bitcoin is now $13k.

“a strong effort by miners to protect their profitability by deploying more efficient (less electricity) mining rigs rather than a mass exodus by less efficient miners,”

the article also says bitcoin production costs were $20k last month (June).

How did they cut the cost to produce a btc by 1/3 in a month?!

 

[VirtualLarry]

the average production cost of Bitcoin is now $13k.

“a strong effort by miners to protect their profitability by deploying more efficient (less electricity) mining rigs rather than a mass exodus by less efficient miners,”

the article also says bitcoin production costs were $20k last month (June).

How did they cut the cost to produce a btc by 1/3 in a month?!

Cue the people that claim mined CC has no "intrinsic value", and they conveniently ignore the cost to mine it.

 

[IronWing]

Cue the people that claim mined CC has no "intrinsic value", and they conveniently ignore the cost to mine it.

The cost to mine it is irrelevant to the value. All those obsolete computer parts laying around your home have no value despite the cost to manufacture them.

 

[JEDI]

The cost to mine it is irrelevant to the value. All those obsolete computer parts laying around your home have no value despite the cost to manufacture them.

My Radio Shack Tandy computer makes a great paper weight.

oh man.. this jogged a memory.. i dont think i ever threw out my dot matrix printer.
it's somewhere in my house

 

[VirtualLarry]

All those obsolete computer parts laying around your home have no value despite the cost to manufacture them.

Tech Yes City should have a monthly PC parts hunt... in my apt! LOL.