What happened with Sol was that Slope wallet had an unencrypted way of sending peoples seeds across the internet and its how those funds got stolen. Basically it wasn't the current release, it was a release made in the past. Someone discovered it, maybe someone on the inside and they quietly started to record peoples seeds. They waited many months until they started to drain these wallets. And as a result it took an entire day for them to find the cause of it.
I think when the devs discovered that seeds were sent unencrypted they should of issued a statement for people to create a new seed but they didn't. And many users funds were stolen. If they used a hardware wallet they would of been fine.
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In most countries there isn't a food crisis but there is an inflation crisis and food is extremely expensive. Many items I used to buy were usually $2.50-$2.99. These days most of these items are $3.99-$4.50. And it adds up when you do a weekly shopping list. Certain types of fruits are so expensive that I just don't buy them anymore. Milk and everything is very expensive.
Sure there are no shortages but its expensive to buy food. So this has an affect on everything. People need to eat. And they cut down on everything else. So other businesses will suffer and its a feedback type of loop. Eventually we might get hit with layoffs and mass unemployment and it won't be pretty.
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Remember what happened last time when oil was headed downwards? During 2008? Was the start of the recession. Back then we had good employment numbers like today and very quickly it went downhill. So maybe this is a signal its the start of the next crash.
We got CPI numbers out next week and most likely they are hinting at 8.7%. Its hard to say what it will be. I can see the lower gas prices having an effect however will it be enough to lower inflation? That is hard to predict. Everything is still expensive everywhere. Shortage of workers and hourly wages are up. Also GDP is negative. So things are not looking too bright at the moment.
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Yes this is what it all boils down too pretty much. ETC wouldn’t exist if it wasn’t for that Poloniex listing that gave it life. Same with this ETHProg. As long as some decent exchange lists it, then it’ll have a market. However whether the exchange wants to have a 3rd Ethereum market is another question.
We will know more as we get closer and closer to the date. Right now we are all assuming there is going to be some competing fork.
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They are still ok for some type of light gaming. Especially when you can crossfire them. Sure power consumption is not great but for gamers it won’t matter.
In terms of mining. I think when ZEC went all ASICs it was the end of the road for these GPUs. They went from mining Bitcoin in the early days, to Litecoin and doge during the 2014 era, then later to ETH and finally ZEC was last good coin to mine on them.
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Right now, I am pretty sure it takes more energy to create hydrogen than actually what the energy it will put out. There is hydrogen everywhere but the problem is extracting it. They have been building hydrogen cars for a few decades already, because they are doing reason and hope that one day someone will discover a way to extract the hydrogen in an efficient way, so far we havent gotten that far.
Its interesting what they are doing. However when you look into it and investigate, its not really that environmentaly friendly as people think. Out of the tailpipe its clean, however to produce this hydrogen is not very eco friendly
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The issue with Gold is that, any day there can be tons and tons of it discovered however will the price of Gold go down? Not exactly. Right now its VERY expensive extracting gold. Even Elon Musk said that you can get gold from Space. Which might or might not be true. However how will you exactly bring that Gold back to earth? And when you bring it to earth you need to extract it also from whatever Rock its buried under.
However its definately more in supply as Gold because the supply can actually be infinite for Gold but not Bitcoin. We have been over this in the past. its very difficult to transport large quantities of Gold while bitcoin is easier, hence why its digital gold.
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Yes lately there are many of these reports coming out. Oil is down and it seemed that inflation has peaked. So most likely the fed won't hike so much. Hence why yields went down and why stock recovered with crypto. Most likely fed won't raise rates in 2023, maybe cut them. So risk on assets like bitcoin are rallying.
However...
Today we got about half a million new jobs added in the US market. This doesn't look good for inflation. There is a shortage of workers and as a result many businesses will need to increase prices and it will lead to inflation going up. So who knows if their prediction will become true.
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Right now is the worst possible time to do this. I don't think you could of found any worse time than now. First of all interest rates are rising and loans of any type will be expensive. Especially given this isn't a mortgage or even a car and there is no colleratal and its unsecured.
Second in a few weeks, ETHEREUM will move to POW and tons of the miner revenue will be gone. Farms will be shutdown. There will be little to no money to be made. You can switch to Bitcoin ASICs but many large farms will do the same. Just forget this idea.
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I think the best strategy is to just buy ETH spot and sell Sept ETH futures in a couple of weeks or so.
Right now I think it has a negative premium of -0.5%. However as we get closer and closer to the merge this premium will become more negative like 5% or so because everyone will buy ETH on the date of merge and sell it as soon as it passes the block number and they will hedge with Sept futures or Perps. If you get in early you can get a guaranteed risk free trade pretty much.
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For those that don’t know how difficulty works, it works like this.
Let’s say you are making $10/ day now with ETH mining and ETC mining is giving you $9/day.
When ETH ends POW, does it mean you will make $9 a day instead of $10? No.
Reason why is that now the difficulty for ETC is small, when there is no more ETH to mine, the difficulty can double, triple, quadriple, etc.
If difficulty doubles you make $4.5 a day, if it’s quads then you make $2.25 a day, etc.
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There will definitely be a few different chains out there. I can already predict people buying ETH on spot market and keeping it in their wallet before the merge to get a few different coin forks.
We will see in sept what the approx price will be. If you watch the futures and you see a huge difference between spot and future/perp price then you can be sure people are trying to get the free forked coins.
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Many stocks are already pumping lots off their lows. What traders are thinking is that next months CPI print will be low and that implies we peaked. Since we peaked the fed won’t doing anything crazy like 1% rate hikes.
So the markets are calm. But there is still a long way to go. Too much tensions in the markets with what happened with Pelosi and Taiwan earlier this week. However it looks like maybe that was the bottom.
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We are going up because stocks are going up because bond yields have started to hint that the fed won’t be aggressive in their hikes. We will get a couple of more hikes and then we will most likely get some rates cuts.
This seems true now because I think inflation peaked last month with gas prices going down and everything should be cheaper now.
So unless we get double digit inflation. Which is unlikely. This was most likely the bottom.
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Crude is dropping for a few reasons.
First reason is that production has increased slightly. So there is more supply in the markets.
Second reason is that demand has decreased slightly as well. People are basically driving less. They only take trips they need and don’t waste gas driving around in a circle.
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For the past few months I’ve been seeing charts and posts about electricity in Germany being extremely expensive. Today I read an article it’s more than 10x expensive than it was between 2010-2020. This can’t be true.
Can someone who lives there verify this?
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Yeah something strange going on with that model of GPU from Sapphire. The Sapphire from the 7xxx era and the current era were all pretty robust. However something about that Dual-X model which made them susceptible to blowing up.
Even before ETH, people bought those to mine LTC and Doge (Scrypt) algo and they had similar issues. Within a few days, they would go up in smoke. However since they were new back then, you just had to RMA them and got sent a new one.
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I have a feeling that if we get some arbirtage opportunies in Sept with people longing ETH (before fork) and shorting Sept futures, it can give us a hint of a possible value for ETH-POW fork pretty much.
Similar to what happened with that OMG last year. We had people longing OMG on spot markets and they shorted the perps/futures just to get the free airdrop. I am thinking we see something with ETH as we get closer and closer to the date.
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Yes gamers will always favour Nvidia. If you are selling 2 types of GPUs you will find that you will get more interest on the Nvidia even if it costs more than the AMD. I am not much of a gamer so I don't know why they favour Nvidia but I think its like Intel VS AMD for CPUs. When you ask most tech geeks they will always prefer Intel compared to AMD. And the same is true with GPUs why gamers prefer Nvidia.
For the past couple of years it was a different story. It was easy to sell AMD because half the buyers I had were actually miners and they just wanted the cheapest GPU out there. However in regular times you will have a harder time selling an AMD gpu than a Nvidia GPU.
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You really aren't going to find a secret for financial success online or in a book. You need to do your own research, find what works for you and do it.
Many of these courses which teaches how to trade and become financially secure are all scams. They don't know how to trade if they did they wouldn't be selling courses or ebooks. You need to trade for a few years and see if its for you. Its not for most people.
However there are those that do succeed in crypto and trading and have a very good living. And this is taugh by experience which you can't learn in a book or have someone teach you.
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