Seems that at least a few businesses from the crypto space are cheering this and probably some of them are just agreeing in silence as they know doing in public will attract hate from their older generation customers, and no surprise chainalysis is from the first mentioned. Just got a notification from their weekly beefing and, the title really surprised me: EU regulations and a big day for law enforcement For the first few moments I thought wow, some major bust happened, who did they arrest, as they've said "law enforcement" not lawmakers or anything like that, but not surprisingly, everything MiCA, together with TFR, will provide a harmonised crypto regulatory framework across the EU, obviating the need for businesses to navigate a myriad of rules. These rules signal a more comprehensive regulatory regime, transitioning from merely countering illicit finance to prudential, conduct of businesses, prevention of market abuse and consumer protection. As the draft regulatory technical standards and guidelines develop, the rules will provide additional legal clarity and certainty to crypto asset service providers, crypto assets offerors, and stablecoin issuers intending to operate in the EU, and offer a benchmark for other policymakers across the globe. will be just heaven on earth from now on:
I think chainalysis smelled a few bens to chew as their services might get more useful or even mandatory so no wonder this ...is good for crypto!  With the clarity this regulatory regime provides, the cryptocurrency industry can confidently pursue its goals of building innovative financial tools, while ensuring the necessary safeguards are in place for sustainable long-term growth. Feels like reading some political manifesto from the interwar period. |
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Stability cant be achieved in a nuclear war always remember not only BTC but also our all the technology, development, progress, and evolution cant stand against nuclear war as much I know remember the famous words, I don't know Which type of weapons are going to be used in WW3 but in WW4 there will be Axes and Hammer of stones.
I was sure somebody was going to quote that, but that's just not going to happen. Assuming enough population survives after this to start a new war, do you think people will suddenly forget how to craft weapons? Even if a nuclear bombardment happens in every city on this planet there will still be enough scraps, and enough raw materials for everything to start just in a few years as it was before, it's not like we will be reduced to monkeys! There are thousands of pipe guns right now in the world, guns that look like coming from a zombie game, that can be crafted from scrapyard parts but they are still lethal. Just think, if a nuclear war happens will thousands of people forget how to melt iron, how to get coal, or how to build an engine? No! As for Bitcoin, it's all a matter of the scale of what that war will be, and more important what surviving means. A copy of the blockchain will survive, a few computers or hopefully a few ASICs to keep mining also, let's ignore the difficulty adjustment and others, but would that mean people will still find a use for it? Cause things like sending money in minutes on the other side of the globe from which a few nukes just came might not be a priority anymore. |
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is it just a fever dream we once had that we are now waking up on?
No, it's just a fad that went away when people realize that the metaverse is nothing special, just a buzzword trying to revive and bring into attention a very old concept that was actually in place for a long time, Second life (2003) was such metaverse, a game in which you have your own digital life, Minecraft is a metaverse there is nothing special about them, just billions of $ throw at it trying to revive the VR hype which was a total flop. As for metaverse coins: It's Lonely in the Metaverse: DappRadar Data Suggests Decentraland Has 38 ‘Daily Active’ Users in $1.3B Ecosystem https://www.coindesk.com/web3/2022/10/07/its-lonely-in-the-metaverse-decentralands-38-daily-active-users-in-a-13b-ecosystem/Looking at two of the biggest companies with over $1 billion valuations, one data point suggests that users may not be returning every day. According to data aggregator DappRadar, the Ethereum-based virtual world Decentraland had 38 “active users” in the past 24 hours, while competitor The Sandbox had 522 “active users” in that same time. So at this point, even a crappy hot dog cart or a shady vendor behind 7-Eleven has more customers than Decentraland, and while the hotdog cart is worth 1k maybe those are valued in billions. Is a metaverse needed right now? Short answer, no! And anyone that disagrees with me can tell me why and what he plans to do in this metaverse! |
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Building analyzes on mere speculation for a period of 12 to 18 months would be considered a waste of time because a lot of things and variables will happen during this long period, and unless the bill is changed into a law and put into effect then only we can talk about the positive effects.
It's not a bill, it's an amendment to an already voted constitutional act (law) so any amendment that gets published takes effect, seems like the law process in South Africa still resembles quite a lot the one in Europe, so this is already a done business. If you talk about modifying the main act, the Finacial Act of 2002 to give them special status among financial products, that's not going to happen, not even in 18 months, but for now, that's it cryptocurrencies are financial products and everyone that deals with them will have to comply with, starting...yesterday  ! |
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What works and what doesn't? Share your thoughts with me.
What works for personal situations: - move to higher ground - if you live in a single house, a 2 to 5 meter tall concrete fence, make it one foot thick, depending on the soil and the proximity of the river just as deep a foundation for it so that the water doesn't push it all around, in short, a solution 4-5 times more expensive than buying a house on higher ground - for usual floods (not dam releases like the mentioned one) mobile flood barriers or perimeters barriers, but that won't help you with a few meters tall waves What doesn't work: - petitions and proposals to the governments An interesting thing, looking through google maps at Niger river: https://goo.gl/maps/8XDdcxx5ZgEtQetE9what happened in January 2020, was there a flood it seems the camera has caught people reinforcing the river edge? But at the national level, there are two things that can be done, create tall river embankments when those pass through or near the city, the other floodway, and floodplains, one simple google search on floodplains management will get you more material than the guys in the government are willing to read. Japan dug 50 meter deep sewers on the outskirts of tokyo to contain excess flooding.
Tiny problems Tokyo city budget - 134 billion dollars Govemrnt budget of whole Nigeria 44 billion dollars That thing, Kasukabe drainage, $2.6 billion Nigeria's education budget, $2.1 billion |
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It's nice on the recognition but the way some of them phrased this sounds less thrilling https://cointelegraph.com/news/south-africa-declares-crypto-to-be-a-financial-product-subject-to-financial-services-lawThe declaration marks the beginning of the long-awaited process of regulating crypto assets, which will produce benefits such as consumer protection and AML/KYC compliance. Consumer protection(which I do wonder how will work) vs AML, KYC and taxes, not quite the balance one was looking nut it was inevitable, sooner or later every single country will take this approach under different names. Also, I do hope they will do amendments because if they just classify these as financial products and include them in the 2002 act then mean the articles from that law will apply to crypto also making every trader, wallet provider, or exchange a financial services provider and that will mean a ton of regulation which I doubt anyone is keen on taking. Under the FAIS, a financial product is defined as a security, debenture, “any money-making instrument” or an instrument conferring rights to securities and instruments. It can be offered by financial service providers, whether they are domestic or international firms, that are licensed in South Africa. Registration can be “an onerous procedure,” according to the local press. |
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And please, don't mine at a loss, it's annoying when people say I mine at a 30% loss because I know BTC will be worth 10 times more in 4 years, come on! where is the logic? Not planning on and I can't understand people who advocate for it. It does make sense for businesses that have paid rent in advance, that have already electricity contracts and which are looking at bigger losses if they stop mining that shutting down, that is understandable, we've been there during the last '09 crisis where we kept the shop opened for a year at a loss because we already paid the rent, and if we extract that from the equation the shop was profitable. But for hobby miners, like people that are still mining altcoins with their GPUs at a loss and not even counting the depreciation of the card, it's simply beyond my understanding, rather than mining 2$ worth of altcoins spending 3$ just sell the same card and buy $600 upfront! at a price slightly below 8$/th, with shipping + accounting for difficulty spikes and a moderate failure rate, they should ROI in 6 months,
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For example if you had just one machine with an Intel i9-10900K CPU @ 3.70GHz The Hash rate for mining Monero (XMR) would be 5145.04 H/s = 0.02535993 XMR which is around 3.19 USD per month from just one PC .
Nice, in theory, but you failed to mention two things to your possible customers: One, that the CPU was worth $400, so about 130 months or 11 years of mining. Second, the same CPU is rated 125W, which means 3Kwh a day while full-throttled (to reach that hashrate), thats 100Kwh a month, so if you pay more than 3 cents per kwh you're losing money. |
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I don't understand, are you offering cryptocurrency mining software or equipment?
From how it is phrased it, it sounds more like he is selling a cryptojacking software! You can get mining software for free so it doesn't make sense to pay 25$ to a stranger for some software that might only clean up your wallet and that's all. Plus that name, "burners", also tells quite a bit about who you're dealing with. Welcome to the easiest autopilot income you will ever see
So all I have to do is to install this on my old P4 and I can watch real-time bitcoins after bitcoins roll in my wallet, or do I have to wait 4 years before I make 10 cents? |
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According to the Block cryptonews website, revenue for bitcoin miners fell down by 16.2% for the month September based on monthly revenue from August. It has also been falling for 5 months this year since November 2021 since Block Research began compiling mining revenue data.
However, there is also another news that reports that a cryptomining hardware maker has raised $13 million in seed funding to create liquid cooled bitcoin miners. Do the venture capitalists that invested in this company speculate that we might be on the bottom of this bear market? Why risk $13 million in an industry with declining revenues?
Because 13 million is peanuts, the daily reward is $19 million each day, liquid cool bitcoin miners can increase their efficiency to really crazy levels, https://youtu.be/8QZAGpssUe0Stock s19 pro hydro being pushed from 27w/th at 23w/th, one machine gets 45th extra and even at these prices that means $1000 a year per machine, a full ant box will get you 210 000 extra a year, that's raw profit on top of your operation, you need just 13k of those to break even for such an investment. Plus with that, you can make almost obsolete gear profitable again, and squees out competitors. |
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Oh, so it's all a question of, should I pay 4$ for the official answers or should I just post this here and hope the ones doing the answers will not screw up and I end up failing the exam because I trusted some strangers on the internet! Anyhow, congratulations to NotATether for having the resolve to go over all of these, but one thing: 5.Sokolov (2021) demonstrates that Bitcoin enables ransomware attacks. (3 PTS)
No and this is not even the topic of that paper. This is wrong, we had this study quoted here in a topic https://www.chapman.edu/business/_files/faculty-research/2019-conference-money-finance/konstantin-sokolov-paper.pdfThe primary data on blockchain comes from blockchain.info. This source has been used by Biais, Bisière, Bouvard, and Casamatta (2019), Easley, O’Hara, and Basu (2019), and Pagnotta and Buraschi (2018). The data consists of the daily metrics of the Bitcoin blockchain.
Hackers typically choose the Bitcoin blockchain as a means of ransom processing due to its anonymity, popularity, and reliability |
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I would take any news that comes with political sauce with a grain of salt. I find it weird for the Russians to say (a ru newspaper is the source) that, normally they would say everything is running well and smooth. https://www.kommersant.ru/doc/5619160Although I wonder if those rates are not because of the normal failure in Chinese chips (don't find this 40% rate plausible at all) but driven by companies who abuse their power as only left suppliers and trick their Russian counterparts since they know they can get away with it. But anyhow, this won't affect us, miners, at all, don't think that Bitmain will do us a favor and lower prices just because they can sell a few of their faulty chips, we're still talking about a company that charged just a few months a go 5x times the price for a piece of hardware, probably close to a 900% profit rate for every gear. 4 days left, hovering at 4%, so again quite a serious pace up, I wonder if we hit 300exa by the end of November. 254 currently, 4% means 10 more exa, 36 left, so another 13.5% next tie and we're there! And thanks for the numbers, now I have all that's need to start from, all I need is to find the time and mood to think about what I need to do, and this is a pain in the ass, I don't feel like doing plans when I know the results won't be pleasing at all and mining at a loss is not something I'm going to do, ever! |
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From what I see, these questions need quite an amount of research.
So what you thought: paste your questions here and let others do your work, right?
If you want to answer these and keep a standard at exams levels I'm pretty sure you can't do it in under 2 hours, OP is just throwing his entire workload onto people on this forum, and if it were for things that are of general knowledge and might help newbie users I could have wasted a few minutes on them but most of them taste shitcoin targeted specific question which has like zero value overall. Plus a lot of things are just badly worded as questions or statements: 16. The stablecoin DAI is as risky as the US Dollar, which it is pegged to. (3 PTS) For example, you will be tempted to say False, but when saying false in this case it's because it carries more risks, but could be interpreted as you think it carried "less". 26. The ASIC producer Bitmain will profit from Ethereum’s switch to proof-of-stake. (3 points) This is just screaming at a wall of text with both pro and against arguments, and it's just like asking somebody do they think Tesla shares will go up. What kind of exam question would that be? And in part two Q18 looks more like an advert for Filecoin rather than a question  Anyhow this is indeed 90% altcoin talk, that's where it should go! LE I'm really curious, why are some with "PTS" and some "points"? In both cases, it's like the author got tired at the end of PTS and used points for the last questions. |
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Of course, one comparison is current as compared with pre-pandemic tourist levels, but isn't another comparison of similar situated countries to see if the curves look different in El Salvador as compared with other similarly situated countries? Your not mentioning that cross country comparison angle, seem to be implying that the cross country comparison has similar kinds of curves as the El Salvador numbers, so in that regard, you seem to be suggesting that El Salvador does not stand out relative to similarly situated countries.
Here you go, the same source quoted by Bukele himself previously: https://www.unwto.org/news/international-tourism-back-to-60-of-pre-pandemic-levels-in-january-july-2022Among destinations reporting data on international arrivals in the first five to seven months of 2022, those exceeding pre-pandemic levels were: the US Virgin Islands (+32% over 2019), Albania (+19%), Saint Maarten (+15%), Ethiopia and Honduras (both +13%), Andorra (+10%), Puerto Rico (+7%), United Arab Emirates and Dominican Republic (both +3%), San Marino and El Salvador (both +1%) and Curaçao (0%). From central America and the Caribbean, you have 7 territories on that list, 6 outranking Salvador in recovery rates! You can play with the data here: https://www.unwto.org/tourism-data/unwto-tourism-recovery-trackerThe Caribbean is at 95% and Central America at 92% overall! |
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If you have faith that BTC will increase at least 10 times (200k USD = conservative estimation) during the next bull run (2025), then repaying those loans is a no-brainer.
Yes, it's a gamble, but more of a calculated risk I would say.
It poorly calculated risk! Why take a long at 10% interest rate when you could simply take a normal loan from a bank at 5% and buy directly bitcoin if you think it will increase 10x times? Oh, wait, why even bother mining at a revenue of 6cents/ths when you could dump the gear and buy coins directly? This is just another profit-grabbing scheme from Binance that will put into bankruptcy everyone who falls for it. And why doesn't Binance use those $500M to mount their own mining farm?
Because they themselves are not stupid, they look for stupid businessmen! The Salvadoran government in September began harnessing geothermal energy for bitcoin mining from a factory at the base of the Tecapa volcano, 106 kilometers (66 miles) east of the capital, owned by a company that is part of CEL (Comisión Ejecutiva Hidroeléctrica del Río Lempa)
The plant produces about 102 megawatts, and the government plans to add another five megawatts next year. Currently, 1.5 megawatts are allocated for bitcoin
You actually believed that PR crap? The news is from 2021 , so it was supposed to happen this year and as you can see, forget about mining with green energy, they were actually setting up a LNG import terminal: https://www.offshore-energy.biz/bw-tatiana-fsru-in-1st-sts-lng-transfer-in-el-salvador/1 BTC could be worth the equivalent of billions of $$$ by 2136... so 1 sat could matter a lot by then.
And following this logic, if one satoshi reaches 1 million, how are you going to get your change when buying not a coffee but a car? For those asking how much one can generate with this ASIC Bitcoin mining equipment, you expect the profitability of around $12 daily with an electricity cost of $0.1/kilowatt.
I love this Antminer because of its less power consumption and generating a good revenue of about $37.
Don't post crap like this, where did you get your numbers, January 2009? Current revenue per TH/s is $ 0.0663, in order to get 37$ of revenue you need around 550Th/s per machine. And S19(95) at 10 cents kwh making $6.2 while burning $7.8 in electricity so you're not making money you're losing money! |
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Personally, I used to enjoy doing labor work. I've done construction and labor work in the past. Its not a big deal.
The only thing that sucks about farming for me are mosquitos and biting insects. That's the only thing that would present a challenge if I chose to pursue a full time agriculture career. The physical work would be easy as it wouldn't be as difficult as the job I used to have.
I have a 50 pound bag of concrete outside. I tried to lift it with one hand. Wasn't that hard. I can carry stuff ok.
It wasn't about you not being able to do it but how fruitless (pun!) is this for a guy doing this alone with no investment in machinery! The plum price for example is around 80 euro cents in store, that's including vat and direct wholesale is earning you 30 eurocents, obviously for a kilo, now erasing any other investment cost you will have to pick up 20 kilos for a post in the cm campaign and about 50kg for an hour of work at flipping burgers at mc donalds. Quite down from throwing a few seeds and earning 100k while watching Netflix, right? That's how bad the revenue (not profit!) is, the moment you quit the hobby and make it your daily work it's just survival, and you will never be able to make a profit unless you go big, that means land, that means thousands of trees, that means machinery that can clean a tree in 3-4 minutes with just one guy operating. Here in the tropics I have pineapple plants that are flourishing with zero maintenance. Some things do well with little care.
And how much is a kilo of something that grows on its own in a region compared to the same price for pineapple you see ins stores in northern Europe for example? You have to pick one when you're doing the possible revenue sheet ~
Excellent summary, and still year after year after year I keep hearing of people who want to launch into this business because it's easy as hell, and revenue is through the roof. The good part about this is that once my family will quit and I sure don't plan on taking over it maybe I will find someone who will pay a lot of coins for it. |
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China is the first reference for higher prices, giant country with little or no oil.
China is the world's 4th biggest oil producer, more than Canada, Irak or UAE. Yes, they import a lot of more than they produce (60/40 ratio) but they do have oil, at least more than Europe overall. Surprised to see the Brent Crude prices hovering around the $90-92 level. After the announcement from OPEC, I thought that the crude prices would easily rally to $120-125 levels.
Still being surprised by reality? That Ukraine wasn't conquered in April? That Russia's 1.7 trillion surpluses (rubles ) in 6 months evaporated in just 3 months to 60 billion? That Europe gas deposits are 92% full and enough gas not to "freeze" during a warmer than usual winter as it's being announced? That miraculously despite stupid claims for bankruptcy and business closing Europe has posted record employment levels? That despite this freezing winter, we are already booked 80% for Xmas and new years' eve in hotels all across the alps? That Europe miraculously still has sunflower oil? That we haven't started to use donkey carts as you predicted? You see, your problem in analyzing things is that you want to find the facts that are allowing you to arrive at the conclusion you want, not how every normal person would think, analyzing reality and seeing what comes out of there! The driving season is over in the US, and so is it in Europe, that alone is a 15% drop in diesel/benzin consumption, so it's agriculture, so its construction, oil production is the same while everyone is trying to drive less to avoid spending money because of uncertainties, and in what universe when there is less demand for oil does it jump to 300? In the same weird universe where Iran is a superpower! Oh, and you're not going to like the prices of natural gas either, futures just took a -13.262 dump! Pretty hard times to be an EU-US hater! |
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When people who pay 6 cents and mine with S19s are no longer profitable, we would start to have some nice difficulty drops, we are not there yet.
Wait till January, I know at last a person that will do his part in the difficulty drop The current pace is 104% gear prices have dropped massively this week in HK and China.
If it's not that much of a bother, can you quote some prices for the s19s series, used ones? Oh, and what I mean about prices is not the one people are asking for, if you have some information on the price at which gear is actually bought, not staying 6 months in a warehouse waiting, I need to do a little planning. The only way it does not happen is the Russian vs Ukraine conflict ends in the next 10 days. As I think that would spark a huge rally world wide.
The entire issue of lack of profits vanishes with 2x 10000 dollar candles.
I can even settle for 2 candles of 2$ if the war ends in the next 10 days, but this is just wishful thinking, no way it will end before spring. The muddy then freezing season is here, the conflict will be frozen and no side will retreat as it knows the other won't be able to make significant gains over winter and early spring, so even without actually battles, it will still last at least till then. And without really positive news from the economy, I don't see Bitcoin gaining traction either, people are acting fearfully, and I don't see any bull run happening in these conditions. Current Pace: 104.2788% (1124 / 1077.88 expected, 46.12 ahead) Half gone 4.2% up, hope of only 1-2% is fading away! |
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