Results 4,026 to 4,050 of 16066
Thread: Bitcoin....who's gotten into it?
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05-08-2021, 09:32 PM #4026
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05-08-2021, 09:52 PM #4027
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05-08-2021, 09:59 PM #4028
Don't even say that. BRRRRRRRRRRRRRR
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05-08-2021, 11:56 PM #4029
Last edited by shera; 05-09-2021 at 12:58 AM.
Live each season as it passes; breathe the air, drink the drink, taste the fruit, and resign yourself to the influences of each.
Henry David Thoreau
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05-09-2021, 12:01 AM #4030Live each season as it passes; breathe the air, drink the drink, taste the fruit, and resign yourself to the influences of each.
Henry David Thoreau
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05-09-2021, 12:06 AM #4031
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05-09-2021, 09:23 AM #4032
Here's the bitcoin price model I like best, although the various rainbows are also nice:
https://twitter.com/100trillionUSDLive each season as it passes; breathe the air, drink the drink, taste the fruit, and resign yourself to the influences of each.
Henry David Thoreau
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05-09-2021, 03:14 PM #4033
It was the part about naked shorting ETFs. I own the Purpose Bitcoin ETF. It's just a ETF that buys bitcoin. Its not complicated at all. It doesn't have EPS. It doesn't even have theoretical maximum share count. You don't have to short it ( naked or otherwise). There's inverse ETFs which you can buy to short bitcoin.
There's also crypto futures, crypto options all of which allow you to be short crypto. Leverage on those is astounding (1000+ to 1). Its ok to be skeptical but try to avoid tin foil hats. Leave that to the puregravity idiots of the world.
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05-09-2021, 03:22 PM #4034
Shilbert shorted teh DOGE.
https://twitter.com/BarrySilbert/sta...574547972?s=19
Between that and his huge ETC bags I'd say he had a pretty good week!
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05-09-2021, 04:36 PM #4035
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05-09-2021, 04:38 PM #4036
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05-09-2021, 04:49 PM #4037
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05-09-2021, 04:55 PM #4038
I'm not picking a side at all and think a dollar could easily still happen. However, if Barry shorted with 3x leverage around the time he made that tweet, it probably worked out pretty well for him. FWIW, though the FOMO was pulling at my heart strings the last week, I still don't and have never owned DOGE. Just here for the lulz.
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05-09-2021, 06:09 PM #4039
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05-09-2021, 09:12 PM #4040
Wow 4k ETH! Beast mode.
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05-10-2021, 07:50 AM #4041
I need to stop being a crybaby and pull up my big girl pants. I spent a long time understanding crypto market, but it's just plain easy compared to trad and I get intimidated. Crypto is more about risk management in a highly volatile environment.
Here in the USA we don't have all the vehicles you listed available to retail, although there is supposedly something coming called mini futures. Anyway, I am biting the bullet and slowly learning how calls and puts work, maybe I can figure out some strategy to take advantage...and maybe I would be allowed to by the govt.
Another intimidating factor is with the increasing market cap of crypto (2 trillion usd) there are whales of another magnitude coming into the space with ways and means that are opaque to me. I guess I just need to try my best to keep winning, swimming in a sea of barracudas!
I am very happy that my eth/btc interplay is working out so well though! I sold btc->eth at .029 in November and now selling back the other way for lovely gains. I feel pretty clever!Live each season as it passes; breathe the air, drink the drink, taste the fruit, and resign yourself to the influences of each.
Henry David Thoreau
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05-10-2021, 09:27 AM #4042
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05-10-2021, 10:18 AM #4043
Let me tell you that I was listening to Ben Cowen. Also I only used a portion of my stack so I wouldn't suffer however it went. Lastly, I had to wait a freaking long time, months, for this to play out. I make swing trades on the outer margins and that takes patience. I'm still waiting for link to outperform btc, no idea when that will happen. When I first bought eth and link in Nov, they both subsequently dumped against btc and that takes a certain type of patience to bear.
Live each season as it passes; breathe the air, drink the drink, taste the fruit, and resign yourself to the influences of each.
Henry David Thoreau
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05-10-2021, 10:35 AM #4044
The main haters I see is against bitcoin's energy use and the claims that bitcoin can drive green energy expansion. I agree that burning coal and even gas (but not stranded flare gas) are bad news for the environment. I say remember that an electric car is just as easily run on coal as a mining machine, so fix the freaking grid. I also believe that expanded green energy use by bitcoin machines can help to expand green infrastructure and ultimately lower costs. I believe bitcoin mining can significantly subsidize green energy expansion. I believe we are ready, culturally and economically, in the USA to shut down coal plants altogether, so I say giterdun!
Live each season as it passes; breathe the air, drink the drink, taste the fruit, and resign yourself to the influences of each.
Henry David Thoreau
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05-10-2021, 10:43 AM #4045
What makes bitcoin special when it comes to driving green energy? The answer is nothing. It's a nonsensical talking point. Renewable energy will not solve bitcoin’s hunger for coal and gas.
It's simple economics. Miners compete only on cost. To be cost effective mining machines have to run non-stop. Just as ASICs drove out CPUs, low cost constant energy pushes out higher cost or intermittent energy. That's why around half of all bitcoin mining is located in China's coal rich regions.
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05-10-2021, 10:51 AM #4046
Bitcoin is the most decentralized and secure chain, which is why it's the most valuable. So you're wrong when you say, "nothing." Its POW consensus also requires a lot of energy. There is an enormous amount of money to be made harnessing stranded green energy for mining BTC. Investments will flow where there are potential profits.
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05-10-2021, 10:58 AM #4047
Once again with the tortured logic. If bitcoin mining uses stranded renewable energy then it's holding back investment for long distance ultra-high voltage transmission lines causing more demand for fossil energy. If bitcoin mining is consuming non-stranded renewables then it's displacing renewable energy and increasing the use of dirty power. Either way bitcoin mining rewards waste and pollution by monetizing it.
You're right about one thing, "Investments will flow where there are potential profits." Which is why bitcoin miners have begun reopening aging coal and gas plants around the country.
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05-10-2021, 01:24 PM #4048
Where some of you raised by parents who taught you from a young age that Bitcoin mining (and it’s ever increasing energy needs) is good for the environment? Because you cling to it with religious fervor. Do you deny the connection between Bitcoin, China, and coal mining? Are you under the impression that China takes air pollution seriously?
This is when you blurt out one of the following:
“oh you hate Bitcoin/crypto”
“I’ve got mine”
“It’s decentralized”
“Ok boomer”
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05-10-2021, 02:00 PM #4049
Humanity will continue to use increasing amounts of energy. You need to wrap your head around that.
I want china off btc, believe you me. And out of Africa and to stop with the labor camps and to free tibet and a lot of other stuff. Please make it so.Live each season as it passes; breathe the air, drink the drink, taste the fruit, and resign yourself to the influences of each.
Henry David Thoreau
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05-10-2021, 02:10 PM #4050
That statement does nothing to wash away bitcoin’s energy use - in China and elsewhere.
Nor does it explain the “Bitcoin is good for green energy” argument that gets repeated like a mantra.
Everything we use needs energy. And the number of people on earth continues to grow.
That doesn’t justify the massive amount of energy Bitcoin mining is consuming. If anything it’s justifies the criticism.
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