Bitcoin....who's gotten into it?

[MultiVerse]

Hah. CryptoKitties are cute, NFTs are cool, and the USD is phony so talk to your accountant about $memes. In the future we'll complain about the unfair inequality of billionaire land barons in Farmville 2.0.

[stalefish3169]

Who’s on the NFT train? lol

https://www.bloomberg.com/opinion/ar...ource=url_link

I've been way into WAX for about a year. The Wax chain is custom build by people with like 20 years of selling digital collectibles for games and whatnot. Its tech is so much better that ETH for NFTs with instant and free transactions.

Their huge successes with Garbage Pail Kids, Street Fighter, and games is just the test run before it goes full bananas. Cuban working with Bitcoin Origins team on WAX as well.




https://wax.atomichub.io/market

https://twitter.com/mBluCrypto/statu...458425346?s=19

Sent from my Pixel 4 XL using Tapatalk

[Skidog]

Get yer pens ready on those returns bitcoin junkies. They're onto you.
https://fortune.com/2021/03/07/theyr...oin-tax-rules/

Sent from my Pixel 4a (5G) using TGR Forums mobile app

[stalefish3169]

Get yer pens ready on those returns bitcoin junkies. They're onto you.
https://fortune.com/2021/03/07/theyr...oin-tax-rules/

Sent from my Pixel 4a (5G) using TGR Forums mobile app

So are we making huge gains or is it going to zero? I'm so confused.

Sent from my Pixel 4 XL using Tapatalk

[stalefish3169]

https://twitter.com/Seetee_io/status...192896001?s=19

I also thought BTC was going to boil the oceans! What a confusing morning.

Sent from my Pixel 4 XL using Tapatalk

[Skidog]

https://twitter.com/Seetee_io/status...192896001?s=19

I also thought BTC was going to boil the oceans! What a confusing morning.

Sent from my Pixel 4 XL using Tapatalk

I will go on record saying I don't believe I ever said anything about zero. I'm just pointing out that the govt will still get their share. if you just HODL do you really have anything?
As for the "boiling of oceans", I am sure there are a few players using renewables, but the fact still remains it is not very environmentally friendly at the moment. There is simply not much arguing that point.

[MultiVerse]

Mining bitcoin is not very environmentally friendly but it is good for actual coal miners in China and Russia. If the dollar is America’s weapon, bitcoin is Xi's and Putin’s.

[Skidog]

Mining bitcoin is not very environmentally friendly but it is good for actual coal miners in China and Russia. If the dollar is America’s weapon, bitcoin is Xi's and Putin’s.

without question. China is huge in bitcoin and not huge in environmentally friendly.

[stalefish3169]

Mining bitcoin is not very environmentally friendly but it is good for actual coal miners in China and Russia. If the dollar is America’s weapon, bitcoin is Xi's and Putin’s.

How about we get over cold war thinking and remove control of our money from corrupt nation state rulers? I'd like to think of my money as something that can be used to uplift and build, not punish and destroy. Have a great Monday!

Sent from my Pixel 4 XL using Tapatalk

[Skidog]

How about we get over cold war thinking and remove control of our money from corrupt nation state rulers? I'd like to think of my money as something that can be used to uplift and build, not punish and destroy. Have a great Monday!

Sent from my Pixel 4 XL using Tapatalk

Funny I just watched "The Silk Road" this weekend. Good flick, but im pretty sure that guy had the same idea....now he's in jail forever.

[stalefish3169]

Funny I just watched "The Silk Road" this weekend. Good flick, but im pretty sure that guy had the same idea....now he's in jail forever.

You should go outside and get some exercise.

Sent from my Pixel 4 XL using Tapatalk

[stalefish3169]

This is quite the read and addresses most of the arguments the naysayers like to shout about.

https://www.seetee.io/static/shareho...ca1d632722.pdf

Dear Share­hold­ers,
To­day we an­nounced that Aker1 has es­tab­lished See­tee2, a new compa­ny that will in­vest in ex­cit­ing projects and com­pa­nies through­out the
Bit­coin ecosys­tem while keep­ing all of its liq­uid in­vestable as­sets in bitcoin3. The new com­pa­ny has a cap­i­tal­i­sa­tion of NOK 500 mil­lion, an
amount we aim to in­crease sig­nif­i­cant­ly over time as we gain ex­pe­ri­ence
and iden­ti­fy ex­cit­ing op­por­tu­ni­ties.
Be­fore I pro­ceed with our sto­ry, I want to state up­front that I am
aware that Bit­coin is of­ten crit­i­cised for a num­ber of per­ceived challenges, in­clud­ing its elec­tric­i­ty con­sump­tion, its in­abil­i­ty to scale with respect to trans­ac­tions, and its po­ten­tial to fa­cil­i­tate anony­mous il­le­git­imate pay­ments. We be­lieve that Bit­coin can be a so­lu­tion rather than a
prob­lem for each of those, but we will get to the ar­gu­ments for that lat­er.
See­tee’s strat­e­gy is three­fold.

First, we will use bit­coin as our trea­sury as­set and join the com­mu­ni­ty.
In Bit­coin speak, we will be hodlers. We will be dif­fer­ent, but ad­di­tive.
Per­haps not as re­bel­lious as the cypher­punks who in­vent­ed Bit­coin. But much more pro­gres­sive than most es­tab­lished cor­po­rates. The team at
See­tee is al­ready run­ning open source bit­coin pay­ment servers and will
re­main ac­tive con­trib­u­tors in the com­mu­ni­ty.
Sec­ond, See­tee will es­tab­lish min­ing op­er­a­tions that trans­fer strand­ed
or in­ter­mit­tent elec­tric­i­ty with­out sta­ble de­mand lo­cal­ly—wind, so­lar,
hy­dro pow­er— to eco­nom­ic as­sets that can be used any­where. Bit­coin is,
in our eyes, a load-bal­anc­ing eco­nom­ic bat­tery, and bat­ter­ies are es­sen­tial
to the en­er­gy tran­si­tion re­quired to reach the tar­gets of the Paris Agreement. Our am­bi­tion is to be a valu­able part­ner in new re­new­able projects.
Third, we will build and in­vest in projects and com­pa­nies in Bit­coin’s
ecosys­tem. This is where our true pas­sion is! Our home game is in­dus­trial ap­plications. But we also be­lieve nice­ly de­signed mod­ern user in­terfaces will en­able new ap­plications wher­ev­er trans­ac­tions hap­pen. I am
par­tic­u­lar­ly in­ter­est­ed in mi­cro­pay­ments and how these may en­able us to
avoid user­names, pass­words, and our per­son­al data be­ing mon­e­tised
with, and of­ten with­out, our knowl­edge or con­sent.
Aker is part of the in­dus­tri­al es­tab­lish­ment. As some­one who start­ed
my ca­reer in the en­gine room of old fish­ing trawlers out­side the coast of
Nor­way and lat­er in the Bering Sea in the Unit­ed States, I’m im­mense­ly
proud of what Aker has be­come, in­clud­ing the new­ly-formed in­dus­tri­al
part­ner­ships we have re­cent­ly an­nounced. But all large com­pa­nies have
one thing in com­mon: they were once small. And many large com­pa­nies
are vic­tims of their own suc­cess and end up small or de­funct. I will do
every­thing I can to keep Aker cu­ri­ous, in­no­v­a­tive, and able to keep up
with the times.
Af­ter forty years in busi­ness, I have learned that you al­ways have to
keep an eye out for new op­por­tu­ni­ties and de­vel­op­ments on the hori­zon.
See­tee marks that hori­zon. It po­si­tions it­self in the mid­dle of an in­dus­try
that could de­fine the next sev­er­al decades, much like the in­ter­net has done since the ear­ly 1990s. See­tee is an open in­vi­ta­tion to push, pull, and
poke life as we know it. To act like young en­tre­pre­neurs every day....

[MultiVerse]

Latching on to renewables as a BTC talking point is a red herring. BTC's energy usage increases more and more as BTC becomes more valuable or as energy becomes cheaper.

If miners become more efficient, hashrate goes up and they use the same amount of energy for the same amount of security delivered to the blockchain. If coal, gas, or renewables make energy cheaper miners use more of it.

The reason the network is secure is the total hashrate of the network makes it too costly to burn enough energy to double-spend bitcoin. It is incredibly resource intensive to operate the network because that's the basis its security is built on.

Proof-of-work (PoW) is essentially work done by computers using a vast amount energy to solve harder and harder math problems in order to create value.

[Skidog]

Latching on to renewables as a BTC talking point is a red herring. BTC's energy usage increases more and more as BTC becomes more valuable or as energy becomes cheaper.

If miners become more efficient, hashrate goes up and they use the same amount of energy for the same amount of security delivered to the blockchain. If coal, gas, or renewables make energy cheaper miners use more of it.

The reason the network is secure is the total hashrate of the network makes it too costly to burn enough energy to double-spend bitcoin. It is incredibly resource intensive to operate the network because that's the basis its security is built on.

Proof-of-work (PoW) is essentially work done by computers using a vast amount energy to solve harder and harder math problems in order to create value.

nicely put.

[stalefish3169]

Were at the 'make fun of Stalefish for thinking that hashrate means security' phase.

The reason the network is secure is the total hashrate of the network makes it too costly to burn enough energy to double-spend bitcoin. It is incredibly resource intensive to operate the network because that's the basis its security is built on.

Well, obviously you haven't been following along very closely because our resident crypto expert, puregravity, told everyone that increasing the BTC network hashrate doesn't improve security.

[stalefish3169]

nicely put.

Not really. You guys are doing some real mental gymnastics to support your bias. First you shout that BTC uses too much dirty energy. But when a large 180 year-old firm invests > 50+ million USD, and says that they are going to use renewables to mine BTC (and drive more innovation in renewables) you move the goalposts.

Maybe go yell at everyone you see wearing gold jewelry instead? https://medium.com/@hillpot/bitcoin-...e-75193863dfb6

[Skidog]

Not really. You guys are doing some real mental gymnastics to support your bias. First you shout that BTC uses too much dirty energy. But when a large 180 year-old firm invests > 50+ million USD, and says that they are going to use renewables to mine BTC (and drive more innovation in renewables) you move the goalposts.

Maybe go yell at everyone you see wearing gold jewelry instead? https://medium.com/@hillpot/bitcoin-...e-75193863dfb6

its dirty for the most part. I never moved goalposts. There isnt enough renewable energy current in the entire world to run the existing bitcoin network. $50million? Ppppfftttttt drop in the bucket. move in the right direction? heck yes, but far from clean....it'll be dirty for some time to come. Renewables arent cheap. Fossil fuels are currently in comparison. Keep trying though....I only did PuE data gathering for like 8 years for places like ebay, paypal, and royal bank of canada.

Tell me, why wouldnt a facebook, amazon, google, ebay, etc, who have huge existing datacenters all over the world be all in on mining? Tons of extra capacity and space. Oh yeah they are actually profit driven for the most part...thats why

[stalefish3169]

its dirty for the most part. I never moved goalposts. There isnt enough renewable energy current in the entire world to run the existing bitcoin network. $50million? Ppppfftttttt drop in the bucket. move in the right direction? heck yes, but far from clean....it'll be dirty for some time to come. Renewables arent cheap. Fossil fuels are currently in comparison. Keep trying though....I only did PuE data gathering for like 8 years for places like ebay, paypal, and royal bank of canada.

Tell me, why wouldnt a facebook, amazon, google, ebay, etc, who have huge existing datacenters all over the world be all in on mining? Tons of extra capacity and space. Oh yeah they are actually profit driven for the most part...thats why

You're riding a horse while yelling at the Model T. BTC is sooooo early still and you're assuming it's in its final form today.

You're wrong about the mining. First of all, modern BTC mining requires ASICs (application specific integrated circuit) which are designed for the sole purpose of mining BTC. Existing data centers largely don't have the hardware for mining BTC. However, there are some big players ramping up. Additionally, Google is involved in blockchain quite extensively, as is Amazon.

I don't give a shit if you buy crypto or not. But at least get your facts straight before you come spray BS in this thread.

[Skidog]

You're riding a horse while yelling at the Model T. BTC is sooooo early still and you're assuming it's in its final form today.

You're wrong about the mining. First of all, modern BTC mining requires ASICs (application specific integrated circuit) which are designed for the sole purpose of mining BTC. Existing data centers largely don't have the hardware for mining BTC. However, there are some big players ramping up. Additionally, Google is involved in blockchain quite extensively, as is Amazon.

I don't give a shit if you buy crypto or not. But at least get your facts straight before you come spray BS in this thread.

Blockchain yes, but not for the purposes of currency. Sorry you're.dead wrong about energy consumption. Sure it will be improved, but my guess is only when it's forced to. And yeah sure google totally can't afford bitcoin miners, fuck they'd build them in house. It's a joke to think they wouldn't or can't, they simply DONT.

Trust me, just cause you invest and read about it doesn't mean you have the slightest understanding of PuE or how datacenters use energy. It's a huge issue even for places like facebook/google. They.watch their energy like hawks as it not only effects their bottom line but also the environment. Bitcoin miners mostly don't give 2 shits about anything but the currency part. Claim all you want that they have "altruistic motives", I'll believe it when I see it.

Flip of what you said, I don't care that you invest in bitcoin or not, don't go spewing shit that it's anywhere near environmentally friendly.

Sent from my Pixel 4a (5G) using TGR Forums mobile app

[Mustonen]

You're riding a horse while yelling at the Model T. BTC is sooooo early still and you're assuming it's in its final form today.

You're wrong about the mining. First of all, modern BTC mining requires ASICs (application specific integrated circuit) which are designed for the sole purpose of mining BTC. Existing data centers largely don't have the hardware for mining BTC. However, there are some big players ramping up. Additionally, Google is involved in blockchain quite extensively, as is Amazon.

I don't give a shit if you buy crypto or not. But at least get your facts straight before you come spray BS in this thread.

Haha! Yes! Bitcoin is to fiat currency as the Model T was to the horse!

Because Bitcoin is faster and scalable and requires less maintenance!

Brilliant.

[stalefish3169]

Blockchain yes, but not for the purposes of currency. Sorry you're.dead wrong about energy consumption. Sure it will be improved, but my guess is only when it's forced to. And yeah sure google totally can't afford bitcoin miners, fuck they'd build them in house. It's a joke to think they wouldn't or can't, they simply DONT.

Trust me, just cause you invest and read about it doesn't mean you have the slightest understanding of PuE or how datacenters use energy. It's a huge issue even for places like facebook/google. They.watch their energy like hawks as it not only effects their bottom line but also the environment. Bitcoin miners mostly don't give 2 shits about anything but the currency part. Claim all you want that they have "altruistic motives", I'll believe it when I see it.

Flip of what you said, I don't care that you invest in bitcoin or not, don't go spewing shit that it's anywhere near environmentally friendly.

Sent from my Pixel 4a (5G) using TGR Forums mobile app

I've admitted many times that BTC uses a lot of energy. But what I'm suggesting is that the profit motivation will spur green energy development in the future. While you're saying it will never get better.



Sent from my Pixel 4 XL using Tapatalk

[MultiVerse]

No doubt BTC will spur renewable energy projects at the margins but that misses the point in the post above: it only matters if you completely disconnect supply from demand, which is obviously ridiculous.

[stalefish3169]

Haha! Yes! Bitcoin is to fiat currency as the Model T was to the horse!

Because Bitcoin is faster and scalable and requires less maintenance!

Brilliant.

Bitcoin has final settlement in about an hour. Credit cards take about a month until final settlement. The Fed's transfer system crashed last week. ACH takes 3 biz days. Bitcoin being slow is a giant fallacy.

Read the very excellent investor letter I shared earlier today.

Sent from my Pixel 4 XL using Tapatalk

[MultiVerse]

Yeah, crypto proves real-time settlement is a good idea that's within reach. It's one of the best ideas to come out of the space.

[stalefish3169]

Haven't had a market update in a few.

The market:





Sent from my Pixel 4 XL using Tapatalk