Local news outlets have tied a recent dip in the bitcoin mining hash rate to government-instituted blackouts in China. Regional blackouts instituted in Northwest China may be the cause of a drop in hash rate from several China-based bitcoin mining operations, per local media outlet Wu Talk.  According to a BTC.com screenshot shared by Wu Blockchain, the hash rate of several major bitcoin mining pools has dropped significantly. As of yesterday, Antpool’s hash rate had crashed by 24.5% in a 24-hour period, Binance Pool by 20%, BTC.com by 18.9% and Poolin by 33%. The blackouts were necessitated because of a “comprehensive power outage safety inspection” in Xinjiang, per the Wu Talk report. Local news outlet Xinhuanet that the National Mine Safety Supervision Bureau has reported three recent coal mine accidents, including an April 10 “water penetration accident” in Xinjiang that caused 21 people to be trapped. Significantly, the Xinjiang and Sichuan regions of China combined account for more than 50 percent of the overall Bitcoin mining hash rate, according to Primitive Crypto partner Dovey Wan. Operations based in China comprise the majority of global mining power. This impact that this blackout may have had on Bitcoin’s price, which had recorded a 1.5% drop in value in the last 24 hours, raises questions about the level of centralization of the Bitcoin network's hashing activity. https://www.nasdaq.com/articles/bitcoin-mining-hash-rate-drops-as-blackouts-instituted-in-china-2021-04-16 .... A thread was posted on this topic in the bitcoin discussion section days ago. It only received a handful of replies. Many are still wondering what caused the drop. Posting this in the hope it helps answer questions. It should be acknowledged that china has been a prime mover in many of bitcoin's largest price drops throughout history. The big drop around the time of the 1st silk road closing and Ross Ulbricht's arrest could partly be attributed to china banning banks from trading bitcoin in 2013. It is even possible that china fabricates fake news to negatively influence bitcoin's price. As occurred with false stories of binance offices in shanghai being raided back in 2019. China may be assuming a softer public tone to minimize negative public backlash associated with their numerous attempts to kill bitcoin's value over the past 10 years. I don't know if they need worry. Most appear to have forgotten china was ever involved. |
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As far as bitcoin HODLING has been proven right in the past, that does not mean that it will be in the future.
If bitcoin's value appreciation is driven primarily by its deflationary nature. The trend will persist into the future barring freak incident. We have many decades worth of data on the effects inflation has upon fiat currency. It could be fair to say bitcoin is simply the inverse opposite of every observation and conclusion which can be drawn from fiat's long history. There are uncertainties present in everything. Even gold and precious metals markets can be fraught with counterfeit gold/silver bars and hijacked commodities shipments. The idea that things which have been around longer than bitcoin/crypto are safer investments could be in question here in 2021. The sad truth could be nothing is safe. |
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HODL and arbitrage are two of the best historical crypto investing strategies I know of. HODL with altcoins has been especially bullish in the 2020 - 2021 timeline. I have small holdings of alts I accumulated from faucets years ago that have appreciated in value to ridiculous levels. Automated algorithmic bot trading could have potential. The recent trend of trades carrying no commission fees could make it worthwhile to target a small number of percentage peak and valley movements in an effort to accumulate percentage gains over time. If anyone knows who Scott Cunningham is, he recently uploaded a video to youtube where he details $5k/month in crypto earnings. https://www.youtube.com/watch?v=GvRCN1jHtZII think most would agree his investment strategies are effective. |
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Amazing how many negative stories about #bitcoin have come out today without a single named source. Its been that way for years. Anonymous unnamed sources being quoted under the same context as peer reviewed, expert, witnesses. There were fake news stories about bitfinex/tether being market manipulation to over-inflate bitcoin's price in 2017. Fake news stories about fake quantum computers threatening the integrity of cryptographic protections. Which some said jeopardized bitcoin and cryptocurrencies. Fake news stories about crypto being safe havens for criminals, drug cartels and money launderers. Fake news about bitcoin being a bubble. Fake news about bitcoin's energy consumption being fueled by environmentally unfriendly sources of power. There have also been many fake negative stories published on Elon Musk/tesla/amazon and other topics which would appear to make them somewhat politically motivated. A high percentage of news published by trusted sources today is contrived or agenda serving in some way. On top of being inaccurate. |
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A majority of cities on the list are located in china, new york and california. Many chinese want to leave china and move to the united states. While 30% of new yorkers and californians (in polls) want to leave those states and move elsewhere. The projected outlook over the next 5 to 10 years could shift significantly. US states like california are exploring options to continue to tax billionaires like Elon Musk who move from california to texas even if they reside out of state. The US is also exploring avenues to continue to tax americans who renounce their US citizenship and immigrate to countries with reduced income taxes.
Capital flight and immigration will be big issues over the next few years. Even without factoring in expected US corporate tax hikes. There have been record numbers of americans renouncing citizenship and moving to places like puerto rico where they pay only 4% income taxes. It has been a trend for years. One wonders if it could explode in the near future.
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Would UBI (universal basic income) qualify as a ponzi scheme?
I think that might make for an interesting discussion.
Its an excellent point to acknowledge Bernie Madoff's ponzi scheme lasting 20 years. There are programs and financial arrangements structured very similarly to a ponzi scheme with real world longevity. I wonder if we'll eventually pay a price for our cultural trend of hopping on bandwagons with as little thought or consideration as possible. Programs like UBI might never enjoy widespread support, if people are willing to think about and question options put on the table. UBI's similarity to a ponzi scheme is something that could definitley use more attention imo.
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Maybe the Prisons supported by REITs are the private ones, not to mention that the progress when it comrs to prisons is really slow in countries. The real estate prices of this places though, I think that if the government were to put some effort in improving it will be helpfulfor the prison and the REIT itself. Private prisons are usually funded through state subsidies. Its one sector where free markets and capitalism could inflate the overall cost of something. Rather than driving costs down as libertarians might claim occurs everywhere free markets are to be found. There was a recent story in the news where cost per inmate statistics in new york hit a record high of $500,000. It could imply the for profit prison industry is reaping record profits in some regions. Although there is a question of long term sustainability. States like new york and california are experiencing an exodus of residents moving to other states. Migration trends dilute tax revenues which could leave them even further in debt. Casinos by contrast could have better long term viability due to their business model and user bases being more reliable. |
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The term stablecoin represents a solution to crypto price volatility on the consumer's end. Stablecoins attempt to stabilize volatility. Which is where the name derives from.
Merchants and retailers who accept crypto payment often choose not to hold crypto long term. Due to volatility fluctuations and the uncertainty involved.
But what of price volatility for those who wish to purchase crypto in the forseeable future? There is price creep with some options. Someone could buy bitcoin @ $50k. With the actual price being $52k when the buy order is finally executed. Stablecoins fulfill a role of allowing more instantaneous purchasing of crypto, to reduce volatility effects.
Stablecoins like tether being pegged to the dollar adds for increased stability and reduced effects of volatility over time.
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Preliminary notes- This will be Chris Weidman vs Uriah Hall 2. They previously fought in 2010 at ROC 31 with Weidman emerging the victor in round 1 via TKO
- Jessica Andrade is moving up to the 125 lb weight class to challenge Valentina Shevchenko for the title. Previously Andrade competed at 115 lbs
- All 3 of Karl Roberson's professional losses are by submission. His opponent Brendan Allen has 8 out of 15 wins by sub. Will be interesting to see what changes either fighter has made (if any) as Roberson's weaknesses would appear to align with Brendan Allen's strengths
- Tristan Connelly's last win versus Michel Pereira impressed many being that Connelly took the fight on late notice. Michel Pereira's coaches could not obtain travel visas for that fight. And so Pereira himself was somewhat impaired not having anyone to help him cut weight or corner him
Does anyone know the dimensions of the octagon used in the Jacksonville Florida stadium? I'm assuming its going to be bigger than the Apex one. I can't find any concrete information on this as of now. The last Kamaru Usman vs Jorge Masvidal match up did 1.3 million pay per view buys. Which is ranked in the top 55 pay per view sporting events of all time. They normally ship the big(ger) cage wherever its needed for big title fights like this one. Although there have been a few exceptions.[/list][/list]
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I suspect the market has been "disrupted" for some time now.
AFAIK crypto has always sold at a premium in africa since bitcoin's ATH (all time high) in 2017. There was an african crypto exchanged called golix io that consistently traded bitcoin 20% to 30% higher than exchanges located in other regions of the world.
Between hyperinflation of the zimbabwe dollar and african states instating taxes on utilization of american social media platforms. Not to mention branching events like the war being waged on VPNs and proxies. It could be fair to say disruption rather than stability is something of a norm there.
Whether the crypto ban made by central banks there made waves larger than the ones already in existence, I would be interested to know.
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A professional basketball league called VisMin cup in the Philippines had a very controversial match last night as both team shows unusual and weird game in the professional sports scene ever. Here's a video clip from this match up. https://youtu.be/uwma0Qs2-ck(video not mine, just for clarification purposes only) Looks like someone spiked the athletes drinking water with something that would make them uncoordinated and not be recommended to operate heavy machinery for awhile. Moreso than a rigged game. There are professional sumo wrestlers who admit to rigging matches. NBA referees have been investigated and prosecuted for trying to influence and rig games in one direction or another. I think everyone knows GGG defeated Canelo Alvarez in boxing twice, no matter what judges said about it. There is a long, illustrious and documented history of corruption in sports. Its a topic that is discouraged and not reported on much. But it does exist. |
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Environmentally friendly renewable power is cheaper than fossil fuel based alternatives across the board. Which should naturally align market forces with carbon neutral power in bitcoin mining.
It is possible the only coal and petrol based crypto mining operations are those that are state subsidized in order to create jobs and boost certain regional economies.
The concept of bitcoin miners needing to clean their energy footprint could be misleading in that regard. Bitcoin mining could be clean today. It may always have been clean in an overwhelming majority of cases. The media's attempt to push agendas by implying the opposite is certainly not appreciated.
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The Covid-19 pandemic is ending, and stocks that have collapsed begin to rise again. I think this is a great opportunity right now for smart people to make money. Rather than the pandemic ending. Negative aspects appear to be intensifying. Semiconductor shortages and assorted supply chain issues are multiplying and may not be resolved anytime soon. Deficits and taxes are rising. Immigration issues at the border are surging. Its bad enough that Biden is openly considering resuming construction of Trump's wall. Inflation is trending upwards sharply. We're far from being stable or recovering. My advice would be not to play stocks long term. The market is overvalued. The US economy is in worse shape than its been since the 2008 crisis. Market behavior has not been an accurate representation of real market mechanics for a very long time. The current uptrend is a running joke. The eventual correction will be even worse. |
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please accept my apology for calling bitcoin a ponzi scheme
but I still call it a huge bubble If you truly believe bitcoin is overvalued and a bubble. You can short it. And profit if its price declines.  Many have said bitcoin is undervalued/overvalued. Few believe their own opinion enough to put real money on it. Some say success is defined by how often people follow their own advice. |
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Some say the simpsons predicted the 2020 corona virus pandemic: https://www.youtube.com/watch?v=7yuooH7obH4I know some will trivialize and downplay the predictive accuracy of simpsons parody power. There's not much I can think of that rivals or competes with it however. |
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Prisons rely on state subsidies for survival. Which could make them a less attractive investment as deficits rise and taxes are hiked to continue their existence. Based on the notion of spending and taxing ones way out of deficit and debt being fundamentally imperfect.
Another option is something known as "fractional real estate investment".
Where the cost prohibitive barrier to entry is divided into fractional pieces which lower dollar investors can afford. There are tokenized crypto versions of it.
Financial gurus and youtubers who brag about owning a fractional piece of casinos along with the allotted income that goes with it. Maybe an investment that is a little better than owning a piece of a prison.
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why I call it a ponzi because late comers pay for the early adapters with their cost of bitcoin is almost nothing As long as you're willing to admit UBI, stocks, markets and all business are also ponzi schemes under your definition. I don't have a big issue with it. Apple stock could be labeled a ponzi scheme under your definition. Late comers who buy apple stock pay for the early adopters. Gold could be labeled a ponzi scheme using that definition. Real estate would be a ponzi scheme using your definition. Everything would be a ponzi scheme. The reason ponzi scheme carries a negative connotation involves them being unsustainable and carrying a high probability of failure. Deception and lack of full disclosure in ponzi schemes are also a major problem, which is why they're illegal for the private sector. A normal ponzi scheme is structured differently from the definition you're using. It defines a stream of diminishing returns where liabilities will grow at a faster rate than assets and income. Guaranteeing a point of critical failure. The pyramid structure of a ponzi scheme is also a key trait. why I call it a bubble have you ever seen any investment can start with almost nothing and went up all the way to over 60,000 dollar per coin in a decade time?  You can checkout the above mentioned stocks and track their performance over a 10 year period. Netflix, disney, tesla. All 3 have shown impressive percentage gains over a span of around 10 years.  Then we have currencies like the zimbabwe dollar and venezuelan bolivar hyperinflating. They exhibit impressive percentage movement but in which direction. |
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1. If monopolies are bad.
2. Why should anyone want a one world centralized currency monopoly.
3. Why should anyone want a one world centralized government monopoly.
It is trendy to support one world currencies and governments thanks to fictional universes like star trek and star wars depicting utopian futures ruled by centralized authority. But how much evidence for centralized monopolies being positive things exist outside of fiction?
I don't understand why people hop on a media bandwagon that says google, amazon and facebook are evil monopolies that must be punished. While simultaneously supporting monopolies in other sectors. Its one thing to have a poorly designed clock that doesn't work. Someone can easily replace it and get another. But poorly designed state structures and poorly designed currencies can wreak tremendous harm and loss of life measured in billions of people. One might think people would put more effort into those areas to prevent suffering and loss of human life.
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May be he needs to move on to other camps as he seriously needs to think about what his future holds after this defeat. Its been said Mike Perry recently began training out of MMA masters in florida. Which is where Vitor Belfort, Colby Covington and many other UFC fighters train. Prior to that he trained out of jacksonwink and many other places. Most don't seem to realize Mike Perry has had coaches and trainers in his corner helping prepare him for past fights. He didn't think they were worth what he was paying them. Which is why he got rid of them. |
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