..... Yeah, but this is bitcoin land. (i.e. Forget it Jake, it's China Town!) https://www.youtube.com/watch?v=9cWnubJ9CEwSo, the PERCEPTION that Tether was playing games, wether it pumped the market or not, reafirms the underlying fear (FUD) that bitcoin is a large ponzi or at least a large bubble, in the non-crypto universe...thus just another example to hang FUD on by the powers that be ..that crypto is a 'tulip illusion'. In other words, it is more about feelings/FUD than any facts after the point. Any panic, usually after the fact is usually overblown and preventable.....so, finding out tether did not pump bitcoin at this point don't matter, the damage is done. The more these things happen, (Gox,Paycoin,BFL,Tether,etc) the more stuff to hang all the FUD on. Rinse,Wash,Repeat. I figure it will take 2 years to get back to $18k prices with BTC. As FUD goes, IF as the article above states, this blaming Tether, it was very effective! |
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I'm guessing that most bitcoiners don't agree with Bernie Sanders on much.
Communism is difficult when you can't take peoples' money. That is why we have a current Oligarchy ..in the USA...you give to the rich. See latest tax plan.....then the serfs have to work harder/longer, and you make outlandish promises about 'trickle down' to the workers....then it is rinse/wash/repeat communism never had a chance against this form of crony capitalism |
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This is a big problem, I do not like the way the market is. What are your thoughts?
I don't really see it as a big problem, its just FUD, based on research and analysis, it has always been difficult for bitcoin to survive first quarter of the year, but this year seem worse, the major countries are polling out and bitcoin is going deep, but it will certainly rise back, is just mater of time People throw around FUD like candy in cryptocurrency. I have a hard time thinking people actually know what it means. What's worse that people spread FUD news extremely fast, generating negative waves in crypto community. But it's in our hands to resist and reveal such FUDs and rumors. It's pretty clear that there has been an organized or semi-organized effort to push tether-FUD to drive the market down. Expect it relent to a large degree as it becomes clear a market bottom has been reached and people are buying back in. Meanwhile, tether has stayed very close to $1 despite market volatility that has often pushed it much further off in the past. That's a sign that whales and others in the know are not troubled by the FUD and in fact are taking advantage of arbitrage opportunities whenever the price drifts far enough off $1 to be worth the time and bother. IF the FUD on tehter WAS STARTED BY TETHER to knock the price of BTC down....so they could buy tether/usd and fill their coffers...from the previous pump in price that tether pushed some itself.....in that they had NOT kept up with 1 tether to 1 usd before ..but after the fact fix that problem with high priced BTC paying for USD to Tether....my questions are: 1) is it illegal? I mean .if the regulators find out it is even/steven after the fact....is that illegal...ie.....hedging on BTC going up on your pumping and then cashing out and covering your bet buy then getting tether for your 1 to 1 ratio? It is not like crypto has stock market rules on risk/reward games like banks (who played this game before the great recession and likely stil do) 2) what is to tether from doing this again? How would you tell? Only after the fact with failure would it be obvious 3) I mean if your $$$ to tether games allow for the price to pump by inflating price/volume..why not use it like a water pump and go back to the well again and again? |
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Sounds like a great guy to have at a Crypto party. Today a young family member asked if she should invest in crypto. I told her she should only invest what she can afford to lose. But I wish her more luck with it than I have had or will potentially have. She deserves a break as she has been through hell recently. Unfortunately she doesn't have access to invest in the amazing Paul Krugman economics investments that are available. Perhaps Paul Krugman should realise not only Trump supporters and the people he thinks he hates so much because of his uninformed interpretation of opinions and personal situations are interested in this. But I do hope he continues to waste his time hating on Twitter if he is that bitter and hateful. I find it interesting that a nobel prize winner in economics...takes such glee and interest, in bitcoin and crypto failing big time. Seems a lot of time and effort and emotion, for something that is never gonna fly off the ground anyway. (I think maybe he protests too much..and ...again so emotional!) |
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In the meantime, A3 are still available for ordering on the Bitmain's site. What would we get guys when the second batch will completely be deployed?
Still looks like it is going the D3 x11 route to me....3rd/4th etc batches with NO ROI......but I may be a coward in that I got burnt on 2 D3's ( I did however ROI on all x11 miners, IF I count my 300mh May 14th, 2017 Baikal Cube ..that made 3.2k over cost.....so for ego protection I'm saying I 'broke even on x11' not that I got tanked on Bitmain D3's. It is all about the ego protection, in 20/20 hindsight...don't ya know!)  Anyway, I'm staying clear unless they drop the price to like $380 or some such...then I might snap.....(doubtful) didn't you also purchase the obelisk sc1 O_O https://goo.gl/S3o5Yz also rewards have now effectively and stable doubled within the last couple days Of course I did. I got FIVE supposedly Obelisk Unicorns coming someday. I just post stuff....not that I know what he hell I'm talking about! (my only hope on the Obelisks, is a USAF SiaCoin Fork. Unlikely!) But, the Bitmain A3's are a poor bet also again IMHO, from 3rd batch on. Too many coin, whose worth is based on decentralized ASIC network being up. (August 2018). Assuming they can do as they say, and beat Amazon Prices by 10c on the 1.00 usd. March A3's are gonna struggle big time, with that looming over their head. (They can look down in the deep pool of dread and see my FIVE Obelisks as a warning...alas...no one listens.....to the first casualties in any new ASIC war.) My take, in that I missed BOTH 1st and 2nd batches of A3's ..then the tune would be different! (damn, missed boats, i could form my own fleet!) edit: rewards thing folk mention, is a long planned bug fix on difficulty, that was known before the A3's popped out. Though, glad to see it helps. |
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Again, secretive at best...scam at worst...no legit demo/3rd party review/etc (at least on the BTC miner, they are pushing) Likely, IMHO, if LEGIT, they have taken all the pre-order money from the about 3 batches of pre-orders, I'd guess and are mining the hell out of stuff...(er testing, as they would say) Not sure about these guys yet, in any way,shape or form. |
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NYU economics professor Nouriel Roubini's not posted any bitcoin FUD for 5 hours. Bullish. Expect massive rally  lol |
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In the meantime, A3 are still available for ordering on the Bitmain's site. What would we get guys when the second batch will completely be deployed?
Still looks like it is going the D3 x11 route to me....3rd/4th etc batches with NO ROI......but I may be a coward in that I got burnt on 2 D3's ( I did however ROI on all x11 miners, IF I count my 300mh May 14th, 2017 Baikal Cube ..that made 3.2k over cost.....so for ego protection I'm saying I 'broke even on x11' not that I got tanked on Bitmain D3's. It is all about the ego protection, in 20/20 hindsight...don't ya know!) Anyway, I'm staying clear unless they drop the price to like $380 or some such...then I might snap.....(doubtful) |
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They have not shown a 'reputable' video/demo or any 3rd party review of ANY of their products.....even though they have probably have 3 batches of pre-sale for their 'supposed' BTC miner. Also you can only order in lots of 5 units. So not to excited to jump on this train yet, for obvious *maybe* scam reasons. |
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Not much interest in this thread..but to wrap it up ...I think I found out how my mining falls under Coinbase sending out a 1099-K form to the IRS. Again this is the Coinbase Support Thread this info comes from: https://support.coinbase.com/customer/portal/articles/2721660quote: What are "Business Use" accounts? "Business Use" means accepting virtual currency payments into your Coinbase Account in exchange for the provision of goods and/or services to your customers. We use the best data available to us to determine whether your account activity qualifies as Business Use, including but not limited to factors such as completion of a merchant profile or enabling merchant tools. Here are answers to frequent questions about qualifying Business Use: Is receipt of mining proceeds considered a "Business Use?" No. In general, the receipt of virtual currency from mining activity does not meet the definition of Business Use, since it is not a payment you received from a customer for your provision of goods or services. What about virtual currency I transfer in from another wallet I control? If you use multiple virtual currency wallets and transfer virtual currency into your Coinbase Account, that transfer should be excluded from the 1099-K form, since it is not a payment from your customer. unquote I did not read further down on the Coinbase support page. From what I can tell, if it is Mining (above) I don't get one. Also if I transfer crypto from another wallet to the coinbase wallet, it does not apply. I see nothing about a 1099-K on my Coinbase account as of 2/3/18.....So guess, it is one less form I need to gather for taxes. Anyway, seems to be cleared up. Brad |
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Good morning Bitcoinland.
I see we're back up over $9k after a brief dip under... currently $9154USD/$11370CAD (Bitcoinaverage).
Almost checkout time at the hotel and we're off to Cancun airport to head back to civilization.
Probably won't see any significant revenues until Monday. Hopefully the price of Bitcoin will still be under $10kUSD.
I'd hate to think I missed this week's great buying opportunity.
Please Jimbo, never leave us again! NEVER! So bitcoin price is dependent on Jim's iteration of where is waldo? It is as good a theory as any. (and we need someone to blame) |
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Bitmain never selling cheap and now they put tag price at $980, so next month we will have $5 like D3  Or SIA dev make a fork to stop ASIC invasion before they do (with their asic) With Bitmain likely to kick these A3 units out like toasters and at fire-sale prices (likely to drop further) My only hope is that Sia-Tech does do a USAF fork that passes. I bought FIVE dubious Obelisk SC-1 SiaCoin (SC) miners.....the network they want to use the ASIC's for and decentralized $1 to $10 Amazon Cloud prices is my only hope. Likely, I'd need the USAF fork of SiaCoin to come to pass, for even that to work! Remember EVEN IF IT WAS JUST THE OBELISKS...Sia-Tech expected 25% more SiaCoin (SC) being made by ASIC's increase PER MONTH. Thus without such a network in place, this coin may blow up quicker than Scrypt-N did when KNC Titans did a mod to mine such. The Scrypt-N coins were essentially worth nothing to mine in 2 weeks. The same scenario may happen with SiaCoin (SC), UNLESS they have their storage network in place and kick ass in a massive way and need this much coins/tokens for their plan. (re-reading above: depressed myself)  |
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Do you guys realize the market had three down days including being down 600. Cryptos are down while the stock market is down
As he states above Also remember, If most folks are only putting in 'money they can afford' if the stock market tanks and/or you have less job security as a result, etc, etc Discretionary extra money ..used for crypto may dry up....you may WISH to buy crypto..you may FIND you don't have the means due to stock market and/or other FUD due to such a crash in the stock market. |
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I'm seriously considering getting 5 PSU's from Bitmain (evil I know but the PSU's are good....even though, bitmain being evil they arrive 2 months after your miners..be aware!) Anyway, I've yet to see an ASIC miner-manufacturer of any flavor coin, ship a decent PSU with their units (with the possible exception of spondoolies) Thus, I think sometime before they ship (a month or two) I will get the above Bitmain Units as a 'hedge' and just sell the Obelisk PSU units on Ebay or use them on other stuff. Just saying, (this of course IF by the time the obelisk's arrive they are not doorstops due to difficulty and price....if that is the case, its easy, just leave them in the box as doorstops, cardboard slides around easier for such use anyway) again, what I'm thinking as a KNOWN PSU ...get it ahead....as a hedge..... (my need for equipment deductions are getting extreme indeed!) been caught with the crummy PSU hedge before....if I lose a bit selling the bitmain psu's on ebay and/or the obelisk units, so be it they already told me the obelisk PSU's will be external (see email below) quote: Hello Brad, Our PSU will be external to the Obelisk. We are guaranteeing it to be 500 watts or less, unfortunately, we do not have any efficiency information at this time, but it is our goal to deliver an efficient PSU. You are more than welcome to use your PSU if it is compatible with the Obelisk, but all of our Obelisk ship with the PSU so we do not have a way to shipping you one without it. We have not yet finalized our design so I cannot give any specific details on the specifications of the Obelisk or the PSU, this information will be available before our first batch ships. I hope this helps, please let me know if you have any more questions. Thanks, Grant Crawford Customer Specialist end quote Note: If doorstop....I'm gonna get one of those 'sport t-shirt' large glass framed units...to hang the t-shirt on the wall (like if it was signed). Supposedly my Sia T-Shirt is in the mail as I write this. Then a small plaque underneath saying: "I Ordered FIVE Obelisk SC-1 SiaCoin (SC) Miners And All I Got Was This Lousy T-Shirt! Something like this:  Tasteful, yet depressing. Brad |
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9000 THS to 10300 THS in 4 hours. I cant believe those are Batch 1 miners. Bitmain is fucking playing games.
no doubt..... the fire sale also IMHO, are due to the fact they are getting miners out of China (with China's new policy of slowly depleting miners in the country) do you really think they are gonna MOVE the miners out? Thus the fire sale.... so you are all getting refurbished equip in this fire sale of bitmain IMHO as to the A3's as the newest product, again IMHO, they are probably already mining away in a data hallsOUTSIDE China, as they are last new equip pushed thus it is with bitmain the usual rinse/wash/repeat Bitmain: (evil is our game...and ROI is your pain!...Unless you are first in line that is!) (tm: bitmain) |
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Wouldn't a decent auditor pay attention to dates and times? Or do they now have a bank that's willing to fix the books? I suppose they could persuade Omni to do a hard fork to change those dates and times too.
The point in case is that every single tether should be backed by a dollar bill. I think this is what the regulators care most about. the timing is actually important...they need to back before creating yeah, what I was thinking is IF they are selling BTC to pay for Tether to cook the books...I"m not even sure if that is 'illegal' as long as you make up the difference on your claim that you back btc with usd to backstop the tether ..better late than never ..as such... thus..this dump could make a lot of sense if tether folk are playing 'catch up' at our expense with the price dump (that sounds too simple to be correct...just tossing it out there) |
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Understandable move and might turn out to be good in the mid-term (in a non-speculative way) Since when banks decide what people can buy with their credit cards? Is bitcoin illegal? first they came for my credit cards then they came for my bank accounts then they came for my crypto resist! |
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We need Tether to be resolved one way or another
either
1) they played the system and pumped BTC and thus all crypto rose from their games
or
2) it is just all a bubble for other reasons and speculation and nothing to do with tether
but, my fear is that Tether (under investigation) will drag this out for months.....
a quick resolution on where they stand in all the above would go a long way towards better prices, IMHO!
(what do I know ..I bought into this whole tulip crypto stuff by drinking the kool-aid in 2013....my advice is tainted)
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my expectation is that bitmain will drop a decred miner next (or at least before BTC tanked, perhaps that has been put on the back burner as they fire sale stuff)
but my enthusiasm for equipment with price dumping EVEN BEFORE any scam is shown for Tether and the other FUD one way or another (other shoe to drop)
means, even if all these guys are legit..I'm kinda MEH! about the whole getting ANY equipment thing.
2 futures:
1) either scrypt-pow survives enough to be worth mining due to pump or sideways in price..I have equip..thus no need for more with that uncertainty and ride that with ROI'd equip
2) scrypt-pow mining was the good bet and price of crypto pumps again..and I missed out on equipment...my ROI'd equipment lives again!
right now, IMHO, I'd rather MISS the possibility of rmore profits...then dump crypto into equipment of any flavor... on the HOPE of profits..due to a price pump in crypto again soon.
but then again, I'm still in HODL mode, the whole cryptoverse could go full tulips....and I'll have more crypto than anybody in 20 years, on the USB drive on my belt, at the
old folks home.....not worth anything...but perhaps occasionally at that elder age..I'd forget and still think I'm crypto rich!......(still more tidy then collecting cats at that age also)
win/win
anyway,
chump or champ ....we will be the first to know! We will either be a Chump in all this...or a Champ...no frigging in between it seems.
brad
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Here is my annoyance more clearly shown
He asks the none owner of the business the question and makes a statement that is false.
Since Yoshi may be doing a schedule c with a social security number which he will not reveal for security issues.
...
is it possible yoshi is being correct..ie....they are just acting as a 'pass thru' on this pre-order equipment that they too have pre-ordered? then the japanese company comment reads as true? (in other words, the yoshi group is under risk as well as any others on this product) unclear, just tossing it out there as a possiblity...in that I'VE acted as pass thru on items...on group buys that I have not had a lot to do with on how/who/what to pay... (not a full escrow thing...more of a shipping thing) edit: I bring this up as an example of eastshore.xyz and bitmain ...vouching for bitmain...putting in a lot of $$$ on pre-order ...and getting shafted... (but refunded) they were acting in a manner for bitmain..but had no control of bitmain actions. (they refunded us as well..as bitmain mined my miners to stop LTC seg witness last summer) anyway, that kinda of direction on this is what I am thinking (may) be some of this brad
(Moderator's note: This post was edited by frodocooper to trim the quote from philipma1957.) |
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