I think the coin already topped or will top somewhere in the 0.25 range. Pull up a monthly chart and that area is usually when it wicks and ends up closing negative.

Most rallies in the past few months were all short lived. I am predicting the same with this coin. If we were in a strong bull market then I could see this going to perhaps $1 or so. However these days I found that it best to take profits early before they disappear.

This indicator predicted almost all the recessions in the past. When it inverts it usually means a recession follows in the next 6-18 months or so. However with how fast everything is going it might even be closer to 3 months or so.

Another indicator that leads to futures of recessions are the oil spikes. In the past whenever oil spiked it lead to a recession.

Then there is of course war, which generally leads to recessions.

So I wouldn’t be surprised if the indicator wasn’t wrong this time around. Inflation numbers are going to be crazy high next month most likely.

This is probably the reason why Bitcoin broke the $44K resistance and seems like it might hit $50K in the near term. Basically people are buying bitcoins and will most likely sell when he uses the remaining $450M which is still sitting in that wallet.

Same with people who went short. They covered one the news that he started buying in large quantities and with the news of Saylor borrowing $200M to buy more BTC, the bears are scared right now.

The issue is what will happen when the buying stops? Will it dump and revisit the $30k area or will it head into the ATH?

Crypto on paper sure looks like a great hedge against inflation but a lot of that matters where you buy in. I know many people personally who pretty much bought the top at $66-69K because they were hearing of 6-7% inflation and they wanted to hedge and look what happened.

Inflation maybe will peak at 10% but from their investment they lost 50% at one point. And some of them already took a loss in the low $30Ks areas.

So it’s great as long as Bitcoin doesn’t drop lower. However nobody knows where the bottom is. Could be $30K or $20K or $15K.

Very strange that for the past 2 days he hasn’t bought anything. Checking that ETH wallet and it still contains $450M or so.

Lately with him and Saylor buying more Bitcoin with his $200M that he borrowed using Bitcoin as collateral, seems lots of buys happening last and this week.

I think we will hit $50K this week and hope that the rally isn’t short lived when he is out of funds to buy.

I think the opposite is right. If it wasn’t for covid who knows if Bitcoin would of hit $69K or stock market making these crazy ATHs or if GameStop would of been bankrupt already.

People got a stimulus and stuck at home. They got bored and decided to invest in the stock market. Stock market went up like crazy due to retail participants.

Months later everybody started to follow crypto and it was the same. Lots of new adoptions and such. Lots of stimulus went into crypto and such. If it wasn’t for covid who knows where we would be in the markets.

Some where in the $70-80K was where I was going to take some profits a few months back and back last May before the drop.

I think BTC had a good chance of topping up there because it’s near some fib extension areas and in those areas it’s where CAD and AUD currencies will be $100,000 so it’s going to hit a big wall like the 50K EUR wall which was a top last time.

However there are way too many reasons why it can easily go down to $30K with what is going on with the world right now with inflation. So who knows?

I wouldn’t try it. You can but the variance is going to get you. One moment your luck is up and the next moment it’s down bad. Why put yourself thru this?

There are a lot of pools out there with low fees, I don’t see any reason to solo mine these days. Most pools only want an ETC address so privacy is obviously not an issue here.

I wouldn’t recommend solo mining ETC.

And what will you do with those GPUs exactly? You do realize that unless ETC market cap goes up by 10x there will be very little profits to be made.

Too many people will want to mine all those low cap coins and difficulty will skyrocket and profit will be like a nickel or dime a day. I think the better idea is to sell the GPUs before the confirmed date of the merge and buy some BTC ASICs and mine instead with those. Or some Scrypt ASICs and mine Litecoin. I just don’t see anything worth mineable with GPUs anymore.

The European countries should of had some plan in place years ago. The way things are going if the war drags on to end of 2022, with winter coming. They will have no choice but to comply and pay in Rubles or whatever currency they want.

This is probably why Putin knew they would throw these types of sanctions at him and he knew that people are too dependent on his resources that they will have to make the trades anyways to survive.

So oil had a bearish day again today. Basically Biden announced a plan to provide around 1 million of barrels of oil from the reserves. And the market took it seriously and had a big dump. Trading only above $100 now.

Along with the Shanghai covid closures and this it was enough to bring oil down 15%. It seems to be more volatile than Bitcoin even.

I think it’s an over reaction and in a weeks time it will go back up.

Even though it looks like it might work because it looks like plug n play the purpose is completely different. The only reason for the USB cable is because when they were designing risers about 8 years ago they didn’t want to have to manufacture a new cable to transfer data.

So they figured the usb cable is in high supply and it’s cheap and they decided to use that instead. However the pins that it uses are not the same pins and functions when using it to charge a phone or plug in a removesble HDD. It just sends data and nothing else. Do not plug it into your laptop you will fry something.

I also assumed it would be short and end by now. However it seems Russia can keep going because these sanctions don’t affect them.

However the peace talks seems to be going nowhere. The ceasefire is also going nowhere. Russia wants demands that Ukraine doesn’t want to give and vice versa. Most likely this is going to continue for a few months and eventually the entire planet will get some type of recession. Not looking well to have a war during these difficult times. Especially with Shanghai already on lock down and more supply chain issues.

It is safe. Might not be safe if the humidity is very high and the rigs are powered off. However with the rigs mining even with some humidity it would just evaporate anyways, as long as there is some exhaust out of your place somehow.

Keep in mind that this is ok for a small system. Usually in your home office. However if you got 20 GPUs then the best way to cool them is to exhaust the heat outside not by using an air conditioner. Ac use tons of power and will blow your profits out the window pretty much.

No this won’t happen. They actually were thinking of switching to an algo called ProgPOW a few years back to get ASICs off the network and last minute it was cancelled. It was cancelled because the ASICs aren’t a 51% attack risk so they moved on.

If there are going to be issues with ETH going fully POS they will just revert to the old mining algo, I don’t think they will change it so ASICs get booted off the network.

I remember years ago when ETH forked. So there was the original ETH chain which is called ETC now and there was the forked one which is ETH now.

I was renting my rigs out back then and I found it odd why people were paying money to mine the old dead chain. However word got out that there is an Ethereum classic coming and people started to mine it very quickly.

So if you still kept mining it on the old chain you would of been very rich since barely anyone was mining it at that time. The fact that the coin is still alive and well after all these years is amazing.

It’s getting pretty bad. I remember shopping a year back for certain items which were $2, and now they are like $3.50 or so.

My electricity bill is exactly double with the exact same usage. Gasoline is probably surpringly the lowest inflated because it only seems like 20% higher than a few years back.

However everything else is just getting way out of hand. Can’t buy groceries anymore for less than $100 these days pretty much.

Looks like oil crude futures are pulling back from last weeks rally. It looked like it was going to go back to the $130 area and break ATH however we had a $10 loss in the last 24 hours.

Only report why it pulled back this much is due to the covid shutdowns in China. Since many cities are closing down it reduces demand for oil. So depending on how long this lasts oil might trades sideways for the next few weeks. However I don’t think we will see oil go lower than $100 again anytime soon.

Most of those suggestions are just not what everybody can do. If you got a large family and live in an apartment, where are you going to grow all those vegetables? And even if you got the space you probably won’t be able to grow it fast enough.

I agree with stock piling with bulk on some certain food groups. During covid many people bought tons of rice and flour and most are probably going to do that soon.

Making people eat less is not a good solution because even if someone is over weight and can eat less they will suffer in the process.

The difficulty can drop a little however it doesn’t mean it will be worthwhile mining. There are many people out there which live in areas with very cheap or free power and their cost of living is very low. So for one individual mining to make a nickel per day might be worthwhile but for someone in USA it’s a waste of time.

During the bear market of 2018-2019, the profitability was basically $0 if you paid $0.10 kWh. People assumed difficulty will fall further but it never actually did. So those with perhaps 0.05kwh power made a little while most people mined at a loss.