I am pretty sure Parag is happy that he was let go because he has a $50 million dollar severance package. Pretty much he came out ahead. Especially if it wasn’t for Elon buying Twitter it would be worth less than $20 a share.

Why he fired them? Who knows. Most likely because it seems badly run. Look at all the political mess. And look at all the spam bots. Basically when certain keywords are mentioned the bots are going at it like crazy.

Isn’t that a repeat of 2018 pretty much. In November we crashed down to $3K and stayed there for a while. Then we ended up pumping in April or so and haven’t returned until covid crash.

It’s possible. A lot depends on this weeks fed news and the employment numbers following right after. If we see weak employment and fed pivot talk then it’s possible we might make a bottom here.

What do you mean by meet daily needs?

Do you mean you want to invest in Bitcoin and then have it generate income for you? Very difficult to do.

If you bought in 2015 at $200 you could of made good money. But buying at $20000? How high can it go. Maybe 3x or 5x. But you won’t get rich off it.

That ship has sailed.

Today was also a confusing day. We got the SPX500 at +3% day, very bullish. You would think the Bond yields would crash? However that is not the case.  The 10Y and 2Y finished about 2%, 3.4% respectivately.

So something is not adding up here. Next week is a very big week. Not with earnings but with the Fed rate and unemployment numbers. Seems that stock traders think fed will mention the word "pivot" and the bond traders are calling bluff on that.

Well at least since the connector adapter  melts the PSU is saved pretty much. Because the GPU will be RMAd.

I can’t imagine warranty from another manufacture covering the PSU if it was a faulty GPU which caused it. Would Nvidia warranty also cover the PSU or are you out of luck ? Never had this happen before to know.

So it seems that bonds are taking a bid, a very small one but they are rallying and 10 year is below the 4%. There was some report about the next fed statement being very dovish and fed saying there is going to be a pivot.

No idea if the source is legit but Blackrock is saying to clients that the fed will ease the pace of the hikes after next weeks 75 bps hike. Most likely the remaining 2 hikes will only be 25 bps.

This was discussed for years and when covid happened and a recession took place, we knew it wasn’t a safe haven.  It was originally created during the great financial crisis and people for years assumed it would be like Gold during a recession however it’s not the case.

It’s directly risk on and correlated with stocks pretty much like the nasdaq. Look at what happened today after Amazon earnings.
Amazon took a huge dive and so did Bitcoin. Pretty much at the exact same time.

Seems it’s official. However I am puzzled as to why he bought it in the first place.

For one he overpaid for it because looking at tech stocks like Facebook, it’s value would be probably less than $20 a share compared to the $54.20 he paid for it. So he really must have a big interest in it.

Anyone know why? Is it because they banned Trumps account? Is it because it’s censored too much and he wants it to be more decentralized ?

I think there were 2x more videos on YouTube about Bitcoin going down compared to Bitcoin going up. Before this pump we had like $10K predictions almost everyday.

Most were expecting a nov 2018 event where it would crash but instead the opposite was true. I think $1B worth of liquidations in the last 2 days. Shows that most were short and hence the big squeeze.

No there is nothing with a power cost that high. Even with 10 cent power you are mining at a loss. With 5 cent power you are making a profit but it’s so little that you will just stop mining due to the poor performance.

I assumed that the difficulty with ETC would drop more but it doesn’t. Have no idea why people are mining at these crazy low profitability coins.

How many of those pins are actually +12V. Just like the PCIe 8 pin connector, there are only 3 +12V and the rest are GND and sensing connectors.

I had once of those dual Radeon 6990 GPUs which was basically 2 of the Radeon 6970 and it only had 2 * 8 pin connectors. That beast can pull 600 Watts if you overclocked it, I think it used like 450Watts in some high intensity games or mining. I assumed the connectors would burn but they never did.

My guess is that its not the GPU but the adapter which is causing the melting. They need to use better female pins.

Now there is some chatter about US Fed of supplying for smaller duration T-bills. The Canadian fed rate hike was lower than expected. We got some type of QE in Japan and Britian. Combined with how the longer bonds had a wick. Maybe it means we bottomed?

However I remember back in 2008, when we assumed we bottomed in late 2008 because we had nice rallies followed by an even bigger dump before finally bottoming out in March 2009.

So this can be nothing but a dead cat bounce and we might head lower.

The thing is. How do we know he never sold?

He mined most of 2009 and didn’t sell those coins but he could of also mined in 2010 when GPUs were coming up and made a few blocks and he could be selling his coins in reverse from date they were acquired.

It’s difficult to prove because there were hundreds of people mining then so it’s hard to find out if they were his coins.

I don’t understand the post of this.

You opened a 100x leverage position on perp futures and got liquidated. So you are saying you won’t get liquidated with the monthly future expires?

If you use 100x on the future monthly or quarterly contracts you will still get liquidated. Only difference with those and perps is that the futures contracts have no funding rate while perps do.

Right now we are at a difficult level.

Stocks are rallying. Bonds are selling off.

So either the bond traders are right and this is nothing but a bounce and we will head lower after the midterms. Or the equity traders are right and we bottomed and the bond traders are wrong.

In my experience you should pay attention to what the bond markets are doing.

Sha256 is one of the worst algos to choose for a new coin. It was actually the worst algo to choose back in 2014 so most people chose Scrypt back then.

There are way too many sha256 ASICs and it’s very easy for a small farm to take control of the network especially on a new coin like this. Once this coin has a market many Bitcoin farms will pool hop and then dump as soon as the coin mature.

From what I can remember. He disappeared when someone who was into the Bitcoin scene at the time went to the fbi for an interview. After that he quickly disappeared. Why? Who knows.

He has lots of BTC that he never sold. No idea if it’s lost or he is waiting to donate it somewhere or sell it at a higher price.

Biggest mystery ever is his real identity.

There are many interesting projects out there. However whether it’s interesting doesn’t mean anything because it’s up to the way it’s marketed.

There can be a great token with utility and it might fail due to no demand due to no marketing. And there can be another token which is average but has a great marketing behind it and it can be successful.

Hence why it’s difficult To find a decent project these days because it might fail anyways.

Back in 2021 you could of actually made some APY by selling the futures and buying Bitcoin or Ethereum on spot.

Back then the front month had like a 5% premium and quarterly had like 15%. So what many did was buy on spot and send it to a futures exchange and short it there. Wait until it expires and close the trade. Pretty risk free.

Doesn’t work anymore since funding rates are flat now.

I feel like every 6 months there is some thread about this.

Yes it requires energy, so do banks and their transactions. It also takes energy to store other stores of value like Gold. The fact that it requires electricity is what makes Bitcoin so secure because it will make it very expensive to attack.

Don’t know why people keep talking about this every few months.