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Welcome to Texas...... bitcoin miners.

See ya......... bitcoin miners.

Bitcoin mining and crypto is a total waste of scarce energy.
That's the whole point of mining in Texas

Texas has to maintain energy load ready for a seasonal peak that is otherwise wasted load. Miners have arrangements to shut down during peak demand and get compensated or reduced rates for using the off peak energy instead. My US energy company reimburses me for using smart thermostats to pre-cool or heat off peak. My work also does the same thing using the backup diesel generators

You have very low understanding of the things you post. Stop embarrassing yourself
 

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It all started in February 2021, with a radio advert for Dogecoin, a cryptocurrency promoted by Elon Musk, the founder of Tesla. Intrigued, Roy started Googling, eventually using his credit card to make an initial investment of €2,500 (£2,200) in a range of cryptocurrencies. The value of Roy’s portfolio climbed to €8,000, then €100,000, then €525,000. Roy had entered the market during an adrenalised bull run, meaning an extended period of price growth. A combination of Covid stimulus packages, low interest rates and an unprecedented level of enthusiasm for cryptocurrency among furloughed workers meant the bull was careering out of sight.

And then it all came to an abrupt stop and his life careened out of control. Crypto has caused real damage and real losses to real people

It isn't just a game people are playing. The pumpers and promoters need to be held criminally accountable for their actions.

Hype and hysteria is all that it ever was.

 

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It isn't just a game people are playing.
"You miss 100% of the shots you don't take" Wayne Gretzky

Nobody cares about the heckler in the crowd when he drives home in his fake GM badged Kia SUV from China

Blaming the world because his parents threw out his Wayne Gretzky rookie card
 

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The crypto collapse has destroyed $2 trillion in wealth, and there is fear that a "black swan" event is about to happen when Mt. Gox releases all their bitcoins to customers who will dump them onto the market. The last time there was a big dump like this.......bitcoin fell to $3,000.

It is projected by many bitcoin experts that the price will fall to $10,000 or below. The slow decline already underway has bitcoin currently at $19,000.

It is a particularly bad time to try to sell bitcoins, because volumes are extremely low and investors are fleeing from the money hungry defi apps.

All the crypto news is very negative. We could be approaching the final days as everyone tries to cash out at the same time.


So those that bought at $3k have made over 6x their initial investment? I am not saying it is likely for many to have bought in initially at 3k but I think a 6 fold gain is pretty good. Even if it goes down to $10k that is still better than a triple bagger. I am not a crypto investor but just thought I should point out that not everyone has lost their shirt with crypto.

I doubt this is the end of crypto. Definitely the end of some currencies, but likely crypto is too established to not exist in some capacity.
 

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If someone bought a Bitcoin for 3000 and still hold at 19000 that would mean they didn’t sell as Bitcoin rose all the way up to 68000 and then started falling back down.

If they sold at 68000 and profited …someone else paid 68000 for a Bitcoin now worth 19000.

The Bitcoin exchanges aren’t regulated and the price is continually manipulated by the early adopters who own most of the coins.

Research has shown virtually everyone except the whales is underwater on their Bitcoin purchases.

It is a very elaborate Ponzi scheme.

The promoters and pumpers, including people like Cathie Wood and Michael Saylor focus on one thing to pump it……the future price.

Bitcoin will be worth …..100,000 each, 500,000 each, 1,000,000 each !

It is a classic example of the greater fool theory…..hype and hope.
 

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Crypto without a specific purpose is worthless.

There could be crypto imbedded into platforms like Meta but they will issue their own crypto. They won’t be letting people use other coins on their platforms. There may be central bank crypto, but the Wild West days are over as it collapses and public adoption fades away.

Walmart adapted blockchain for their own use without the need to buy tokens from people or to pay fees.

The crypto bubble is deflating.
 

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So those that bought at $3k have made over 6x their initial investment? I am not saying it is likely for many to have bought in initially at 3k but I think a 6 fold gain is pretty good. Even if it goes down to $10k that is still better than a triple bagger. I am not a crypto investor but just thought I should point out that not everyone has lost their shirt with crypto.
The amount of talent moving from well known traditional finance and web2 tech should be enough to convince most people to take a second look

Today ETH is $1072 USD and the sky is falling because it's down 80% from ATH last year. It's also up +10x from 2020 and once they cut off miners this year will generate significantly more revenue for staking (currently 4%, potentially 10% post mining but I expect that to settle back to 5% as more people stake)

Today ADA is $.42 USD and the sky is falling because it's down 90% from ATH last year. It's also up +20x from 2020 and once the upgrade goes through this month will have all kinds of dapps launching that have been waiting. All the cool stuff happens when the sky is falling. ADA will be able to generate yield from staking and lending at once

Many were saying there would be a dot com style crash. A lot of VC scams had to be flushed out and what survives will be stronger like FANG

 

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If someone bought a Bitcoin for 3000 and still hold at 19000 that would mean they didn’t sell as Bitcoin rose all the way up to 68000 and then started falling back down.

If they sold at 68000 and profited …someone else paid 68000 for a Bitcoin now worth 19000.

The Bitcoin exchanges aren’t regulated and the price is continually manipulated by the early adopters who own most of the coins.

Research has shown virtually everyone except the whales is underwater on their Bitcoin purchases.

It is a very elaborate Ponzi scheme.

The promoters and pumpers, including people like Cathie Wood and Michael Saylor focus on one thing to pump it……the future price.

Bitcoin will be worth …..100,000 each, 500,000 each, 1,000,000 each !

It is a classic example of the greater fool theory…..hype and hope.
... HOWEVER, the "silver-lining" of all of this - a lesson learned or a lesson taught to others!!!!

I wonder if PP is still pushing BTC these days?
 

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Funny sags, you've been saying the same thing for so long now that you've already been proven wrong multiple times. You talk as if everyone bought in the last two years, but you've been saying the same thing since 2013.

Basically anyone who bought before Dec 2020 is still up (those who bought @ the previous peak in Dec 2017 are even). Bitcoin started in Jan 2009, so that's nearly 12 years that people could have bought and still be up on their investment.
 

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In theory, if people timed their purchase exactly right.......but in practice, the overall bitcoin market is at the average purchase price and over 40% of bitcoin holders are "underwater" at a $20,000 value. The overall crypto market......including the numerous defi failures reveals that 89% of crypto holders are "underwater". People who bought "alt coins" lost 80-100% of their investment.

The "average" also includes the biggest wallets, such as the Satoshi wallet which holds 1,000,000 bitcoins with a cost basis of $0. Those wallets distort the average purchase to current value ratio for the other 15 million active bitcoins (accounting for 20% of bitcoins lost forever). Without the inclusion of the coins held in those wallets with a $0 cost basis, the aggregative purchase to current value ratio of bitcoins would be very negative.

If anyone can time the market exactly right, there is lots of money to be made in bitcoin trading.

But will bitcoins be worth $30,000 next week or $10,000 ?
 

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This is the guy who pumped crypto and told his faithful followers he would never sell his bitcoins.
Tesla already sold some last year. You seem to be making stuff up as usual

Their taxes were structured to sell. I don't think you understand how hedging works. Then again you didn't understand inflation, volume, liquidity or much else

You're lucky the government bailed out your pension so you could buy GM branded SUVs from China
 

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Tesla took a $460 million loss on their bitcoins.

Musk now calls bitcoins a "sideshow of a sideshow".

Analysts say that without the bitcoin cash and the waning energy credits, Tesla would have lost money in the last quarter.

With market share and price margins both declining, Tesla is experiencing some problems as competition ramps up in the EV market.

 

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Analysts say that without the bitcoin cash and the waning energy credits, Tesla would have lost money in the last quarter.

With market share and price margins both declining, Tesla is experiencing some problems as competition ramps up in the EV market.
If we let GM go bankrupt and put all their deadbeat employees on the street as the market rightly decided, instead of using taxpayer funds to employ Chinese and Koreans to make watered down Kia SUVs with bland styling for boomers

Then Tesla could be much further ahead by now. Tesla has to compete with the oil juggernauts and the boomer politics who line their pockets with oil juggernaut's dirty money so they can destroy your grandchildren's future

Your kids can't even afford to buy a house anymore and you convince them to buy new GMs with horrible resale values. There is no competition in the EV market. Only boomers and GM employees children want to drive GMs
 

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^ You better check your data about what age group is buying Kia's.
GM outsources their design to GM Korea and China now. Latest Kia looks far better and you know GM Korea is getting the designers and engineers that Kia didn't want.

"The Trailblazer is solely designed and engineered by GM Korea and will be manufactured at GM Korea's Bupyeong plant. It will then roll-out to Chevrolet's global markets, including Korea, as a key player for GM Korea's domestic and export sales."

Any self respecting Korean would try to work for Kia or Hyundai before GM Korea. You'd get better value and design without the bankrupted American overhead

If you want a Korean SUV just buy the Kia
 

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