I'm not saying that this wouldn't cause a price rise, but take note that most bitcoin buyers don't give a crap about hashrate, and most definitely a lot of them don't even know what a hashrate is and/or why it's quite important.
In the end, it's far more likely and makes far more sense that the hashrate will follow the price, rather than the price following hashrate.
Agreed. This also causes a decrease in revenue, higher costs and lower efficiency. The weakest miners will be forced to shutdown, take a loan or hope that there will be someone similar to CZ to bail them out. We cannot be certain how long this high hashrate can be maintained but we can be quite certain it will fall slowly unless bitcoin pumps. However, if the increase continues while the price is falling, we can begin speculating that some of those mining farms are being supported financially or some of them might be stealing electricity hehehe. |
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$10,000-ish right now, depending on your hardware or you electricity costs, is the variable break-even, and $20,000 is the break-even to buy new hardware, or even a little bit above that.
If I understood his point correctly [latter part], he's basically saying if the value of Bitcoin is below $20k, it doesn't make sense to go out and buy a new mining rig that's more efficient than what you already have and I have to disagree with that part. - If I was still mining up to this point and we were in the $10k range, I would've bought the latest or rather most efficient miner out there to replace my inefficient mining rig.Yes, he presently telling everyone that there will be no problems for the most efficien of miners with the latest hardware and the cheapest source of electricity. However, after reading some news articles of Poolin issuing IOUs and Jihan Wu creating a fund to buy assets from distressed miners, I cannot quite trust Wes Cummins statement. CZ of Binance has recently created a $500 million fund to provide loans for distressed bitcoin miners. This appears to be very similar to a bail out. Binance has launched a $500 million fund to provide loans to Bitcoin miners struggling to cope with difficult crypto-market conditions.
Binance Pool, the company's mining service, will provide loans for both private and publicly-listed Bitcoin miners — who will need to pledge security, in the form of physical or digital assets, to obtain loans with a duration of 18-24 months. Binance will charge interest rates between 5% and 10%.
The initiative comes as Bitcoin miners experienced a tough few months while the price of bitcoin declined. With low bitcoin prices, miners' revenues have declined sharply — with Compute North even filing for bankruptcy.
Bitcoin miners' revenue fell 16.2% to about $550.5 million last month — marking its fifth decline in the last six months, and the lowest total since November 2020, according to data from The Block Research.Source https://www.theblock.co/post/177170/binance-launches-500-million-fund-to-provide-loans-to-bitcoin-miners |
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News update. Coin Center has filed a lawsuit versus the OFAC or Office of Foreign Assets Control. This department is under controled by the Treasury department of America where our favorite grandma, Janet Yellen is the head of this department. In any case, I do not really understand the 4 claims in the lawsuit but I ask the people who do. Does Coin Center have a case or will the courts keep blocking this until it reaches the supreme court? This might be something similar to Larry Flynt's landmark case about the protection of free speech. Today, Coin Center, along with a group of normal privacy-seeking workers, donors, activists, and public figures, filed a lawsuit against the Treasury Department to keep privacy normal, to delist Tornado Cash privacy tools from sanctions, and to enjoin Treasury from enforcing against ordinary Americans exercising their self-evident and basic rights to privacy.Source https://www.coincenter.org/coin-center-is-suing-ofac-over-its-tornado-cash-sanction/ |
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I'm still watching their country and what Nayib Bukele is doing with his plan, really we shouldn't be too hasty in declaring them failed. They like us are in bear season, so the price drop is inevitable. As long as we don't sell bitcoin that means we have nothing to lose and neither does El Salvador. They have never sold any of their bitcoins so there is no way they fail or lose their bitcoin investment. One of his latest statements about his country's bitcoin situation, everything is still under his control. We haven’t lost $50 million worth of #Bitcoin because we haven’t sold any.
"Stop drinking the elites' Kool-Aid and look at the facts"
 We cannot tell everyone that El Salvador has failed yet in their plans for bitcoin's adoption in their country. However, what we are witnessing is that it is very difficult to adopt as a medium of exchange because of volatility. I am aware that it is arguable. But Bukele's excuse of not losing $50 million because he did not sell is a funny one because it appears he did with where the market price presently is. This is also the same excuse we say when we hold an asset below the purchase price. He has become one of us heheheheh. |
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Styles make fights but Butler is not heavy-handed nor faster than Inoue.
Exactly, that's why there's only a very little chance that Butler will win this fight. But I admire him for being brave, if he will lose, I hope he will not be injured in the fight so he can still continue his career. The thing is, if Inoue goes up in weight, maybe he can still fight and be a bantamweight champion again. The only way to win some bets in this fight would be the over and under what rounds will it finish. I speculate after Inoue's knockout on Nonito Donaire, the sportsbooks will place it on 6.5 rounds with not very good odds on under. It might be offered on 1.50 which might not be very good because Paul Butler has been knocked out only once before. It was in round 8 and this occured a long time ago on 2015. If the sportsbook offer 1.70, this would be more inviting. |
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I am not quite certain why there are teams that take the risk of trying for the 2 points instead of the extra 1 point after touchdown.
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Will this Thursdays Amazon Prime game be more boring than last Thursdays?
I didn't think that was possible but it's turning out that way LOL 3:0 at halftime and they needed two sketchy pass interference calls to even get into the field goal range... Drinking game suggestion: shot every time the talking heads forget the team is called "the red... the dubbyef... the commandos" Agreed. The Bears and the Commanders are making the impossible, possible. Carson Wentz much worse performance than Colts quarterback last week. I forgot the name, he is that bad. He might be from the Falcons before he was traded. After this game I might also forget the Wentz family name and call him Redskins quarterback. |
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Okay now that waivers have been processed I can talk about how disgusted I was with myself for not dropping someone and picking up Taysom Hill before last weeks game. I knew he was the right play/ a good play, I just knew it, but I decided to ignore my gut and listen to the “experts” and went with Conklin over him. Needless to say after Hill dropped 40pts I was pissed off all weekend long (still pretty much am lol). Would have taken me from 1-4 to 2-3. I’ve got a good team, I really do, but it’s hard to come back/out of a 1-4 start. But, we shall see.
Let this be a lesson to you all, go with your gut. Don’t be like this guy!!! Lol ughhhh
The experts are in similar position as common players like us. Their predictions are also based on speculation which might or might not become true. However, their advantage is that their speculations and predictions are based on statistical models which help in taking the more possible outcomes. It also depends on who your favorite experts are hehehe. There might be some experts who are better in fantasy than other experts. In any case, why is the Bills only -3 vs. the Chiefs? After a difficult game vs. the Raiders then next game is a more difficult one vs. the Bills, certainly the Bills should be - 6.5 or -7? |
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It is very head shaking that our sexy fighting kitten Alexa Grasso is again underestimated against the Brazilian Araujo considering that Alexa is the favorite. Does everyone not see that Araujo's head is hit very easily and the pretty Alexa's grappling has improved? This fight will be won by who can throw more punches and kicks and this will be Grasso, I reckon. Grasso by decision. |
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This time it's against Paul Butler, it's no use thinking that he will win because that won't happen even if Inoue is feeling bad or ill in the day of their fight. I know Inoue is not that kind of boxer who underestimates his foe but it's too clear that Butler won't stand a chance especially if we are talking about withstanding punches, he can't survive that.
The level of confidence from the fans of Inoue is very high, well, we cannot blame the fans because Butler won't be a champion if Casimero was not stripped with his belt, so now, he is getting all the kind of underestimation, and hopefully he will see that as a challenge and will try to prove that we are wrong. It's indeed a huge challenge for Butler because the majority of the boxing fans do not believe he has a shot of beating the monster Inoue. Butler has to double his training, not only improve his running style, but he also needs to improve his power because if Inoue cannot feel his power, well, what can we expect, Inoue will just continue to be aggressive and will look for a KO. A boxer can double, triple his training or more, however, there is nothing he can change. Butler is slower, older and the weaker boxer. His team can use different strategies to outsmart Inoue, however. But there is nothing that can change the storyline of their destinies. Inoue will win with a knockout and continue to challenge himself to become the pound for pound best boxer. Butler will be a forgotten character in this story. He will be taken out of the ring on a stretcher hehehehhee. Yes, another stretcher joke. |
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@DaveF. However, will those miners of Ethereum shutdown easily and accept the loss? They can continue to mine other coins like Ethereum Classic and the Ethereum proof of work chain which is also presently being supported by exchanges. Binance has funded a new mining pool for ETHW to continue support for the miners.
What loss? If they bought the ASICs / GPUs long enough ago they are paid for many times over. Even if you bought only a year before the merge if you had cheap enough power you were under 300 days for RoI on most ASICs and about the same for GPUs. GPUs can and are still being sold off, and as of now it looks to be more profitable running current or 1 gen out SHA ASICs then GPUs. As for the other coins that can be mined with the ETH ASICs, it's a tough call. If you RoI already on them whatever you sell them off for is profit. Or, you can keep mining at a loss at the moment and hope those coins go up enough. Businesses for the most part, if they know they can make money mining BTC but *may* make money mining something else but *will* make money selling the ASICs are going to sell the ASICs and mine BTC. That's just good business. -Dave You are correct, there are some Ethereum miners who made their ROI and also some profit, however, the argument is the same. The Ethereum miners cannot easily shutdown then take the risk of competing against the miners of Bitcoin. We are also assuming that the switch for Ethereum miners is as easy as selling the hardware they presently have then go to a store and buy miners for Bitcoin. There is a waiting list. Also, who will buy their Ethereum mining hardware? There is also the next halving which implies that there will be more competition for fewer coins. |
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Congratulations on the free spins. I hope I will be given some also sooner or later hehe!
In any case, I am not a slot machine regular, however, I sometimes play the slots created by Hacksaw Gaming because of the simple, not very cartoony animations. You might like them. You should also maybe try a random slot machine and play it in fun mode to know if you like them and also to try your luck hehehe.
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It appears someone got to my priority targets in the waiver wire first before me hehehe. Who got Geno Smith and Taysom Hill? We should start accepting the reality that Geno Smith is more than an average quarterback. It might be only for this season, however, he is a good addition.
Also, there are rumors that the Panthers might be trading some of their players after firing Matt Rhule. The rumors also say that the Buffalo Bills are asking about McCaffrey. The Bills are known to have interest on McCaffrey during the offseason.
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@Rikafip. Yes it appears that some people in social media are overexcited in discovering some known names in the list hehe. There were also other names in the list that had similar names with some known maximalists in the bitcoin community like John Carvalho and Jonas Schnelli. Peter McCormack was also very quick in criticizing Carvalho with the wrong information hehehehe.
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@DaveF. However, will those miners of Ethereum shutdown easily and accept the loss? They can continue to mine other coins like Ethereum Classic and the Ethereum proof of work chain which is also presently being supported by exchanges. Binance has funded a new mining pool for ETHW to continue support for the miners.
@SFR10. I disagree, Ethereum miners might not take the risk of selling their hardware to buy Bitcoin miners and compete with Bitcoin miners. It would be less risky to mine other coins.
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@NeuroticFish. However, we should be careful. Similar to Elon Musk, none of them should be trusted. Those types of people will support bitcoin as long as it is very convenient and beneficial for them. Also, the way they act, they might be thinking the community is full of stupid cryptobros. Have you seen Max Keiser act in conferences? Head shaking and everyone is cheering for him. They might have forgotten that he created a pump and dump called Maxcoin.This news article should also be cause for skepticsm on Bukele. Public officials and private individuals close to the president of El Salvador, Nayib Bukele, have been linked to a money-laundering scheme involving Venezuelan state oil company PDVSA, according to a recent report.
According to the report published by Washington DC-based thinktank IBI Consultants, Bukele and his inner circle received up to $2 million in loans, either in a personal capacity or through companies related to Alba Petróleos, a PDVSA subsidiary in El Salvador. Additionally, it states that this money was part of a massive money-laundering scheme carried out in Venezuela, El Salvador, the United States and Panama, among other countries.Source https://insightcrime.org/news/analysis/el-salvadors-president-bukele-linked-to-venezuelan-money-laundering-scheme-report/ |
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@dansus021. You have heard wrong or you are inventing stories. How can Ethereum miners move and mine Bitcoin? The mining algorithms are not the same! In any case, if the hashrate is increasing, then it appears that miners think that the market will pump or there might be some large mining farms that found cheaper sources of electricity. It might also be what I have been speculating. Illegal mining hehehe. |
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There might be other names in the list that might be very disappointing to see for the bitcoin community if the data are true. Does anyone know Jason Lowery? I saw him being mentioned in social media as a laser eyes, there is no second best, never touching shitcoins type of holder. It might only be a person with the same name, however. We cannot be certain with less known people. I found this screenshot in social media. A similar search would give only $0.55 lost.  |
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I am not watching the game, but upon checking this score is shocking. 14-0 for the Raiders and it is only in the 2nd quarter. Also, what does this mean for Christian McCaffrey? Does this change the Panther's way of playing? The defensive passing game coordinator will also be interim coach. Defensive. I am afraid defensive might imply less snaps for my running back hehehehe. Once a hot $62 million hire, Matt Rhule fired during third season as Panthers coach
Rhule ended up being an expensive mistake for Panthers owner David Tepper. Before the third season of that deal was done, Rhule was fired. The Panthers announced the move on Monday morning. Rhule was 11-27 as Panthers coach. A listless 37-15 loss to the San Francisco 49ers on Sunday dropped the Panthers to 1-4 this season and was Rhule's final game as the team's coach. Rhule is the first coach fired this NFL season.
Carolina also fired defensive coordinator Phil Snow and assistant special teams coach Ed Foley.
Defensive passing game coordinator and secondary coach Steve Wilks, who coached the Arizona Cardinals for one season, will be the team's interim coach.Source https://sports.yahoo.com/once-a-hot-62-million-hire-matt-rhule-fired-during-third-season-as-panthers-coach-151149787.html |
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@ETFbitcoin. Agreed. It might not be something that was intended to be a leak, however, similar to a real leak, it is still a breach of privacy.
We would also never feel the negative effects of this breach because our names are not in the list. However, if they were, I am quite certain none of us would question that the information in this court filing will potentially put some people's lives in danger. I am not only talking about the names and details of the people in the list. I am implying that it has also become known by many financial institutions that those people deposited their money in a ponzi like Celsius. An example of a negative effect would be a drop in their credit rating and make them disqualified to get a mortgage or a loan. It might also appear during a background check if they apply for a job. They might be considered high risk.
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