Of course, they would but they wouldn't expect it for such a high drop, there are far smaller increments on which you'll be asked to put more collateral.

The problems with this:
- you will need to get more collateral if the price goes down, if you're short on cash or coins it might be impossible for you
- you risk being liquidated in a drop only to see that after one month the coin is up by 50%, you basically sold at the bottom
- there is a trap for some of those that allow you a 70% drop in collateral before liquidation. If liquidation does happen below the levels of your mortgage so it's not able to cover all up you're still going to have to pay the difference
- far higher interest rate compared to a good credit score with a bank

The pros:
- you don't have to sell your coins, so you can keep them till they do a x10 or x100 or whatever
- you can take out collateral if the coins go up and while you're paying your loan, a thing impossible in mortgages
- you don't need a credit score, nor do you need proof of income

Basically, this is the advantage to people who have no real constant income, bad credit scores, who are going long on those coins, and more importantly, probably the most important of all, the ones that have twice or thrice the amount in coins, who could with a snap of their fingers reinforce the collateral position with double or triple the sum.

There is no such thing as a level above or below profitability.
Mara mines with 2 cents power kWh with s19 and s19pros, Riot in another location at 3.5 with same new gear, some miners in Iceland with cheap rates but with older s15 s17, there are people who still mine with s9 at near-zero cheap energy.  This is not like other mining industries, for example, if half of the oil miners would shut down the rest won't be able to produce the same amount with the same costs.

If miners right now have 200exa, the revenue of 30 million a day, and a cost of 8 million in electricity, assuming half of them won't be able to keep mining you're going to have 100 exa, the revenue of 30 million, and a cost of 4 million in energy, making it twice as profitable, making some miners come back. There is no such thing as below profitability, for that to happen it would mean every single miner would have to mine at a loss, impossible, some will quit before others hit that.

Also, the revenue per TH/s day is still double the one in 2020, and with better efficiency, it will take a price of 15k to reach back that level.

I would be losing money mining on the grid with anything below s19 pro, even the standard s19 would make me lose money if I would be paying consumer rates. But, this is the EU, mining here stopped really competing with the world the moment the first ASIC went live.


The big guys are tied by long-term contracts, they get electricity below 5 cents, sometimes even ridiculously low as 2.5-3.5, it will not affect the hashrate that much, we're indeed broke 12 cents per TH/s, the lowest in years but gear still keeps being delivered.


8 hours to go, another 4.5, if we go below 30k again a lot of home miners if not all will realize they should have bought BTC rather than a 10k heater. Cheap gear anyone?

Oh, forgot this:


Same for  October 2020. We're heading for those numbers at full speed but I'm doubtful we'll have a bull run next few months.

So you were saying? Not interesting? 
This is one of those glorious shitshows you can rarely enjoy, and seeing it unfolding live it's even more entertaining.

The moment you can short a stable coin against the currency it's supposed to be pegged at with a backing of 10 billion to keep the course is a once-in-a-lifetime opportunity! The next level is when you will be able to short Luna vs Luna, as one Luna will be 0.66 Luna. 
I should ask the obvious question, why do we need their shitcoins in the first place, but now it's clear, that some guys need to scam others and get rich while "investors" can't believe their eyes, they turn back they read the whitepaper, they read the protocol, they look at the wallet and this can't understand why they've lost all their money! And just yesterday I had a debate with somebody who was telling me that altcoins are useful, I still can't find any other utility with them other than scamming.


Wait till they are out of BTC to sell...
How do you call a coin that is backed by thin air, not even by one if not nine nuclear carrier fighter groups but by some guy on Twitter? 

You're wasting your time with people who even if they saw Kremlin on fire they will say it's the White house.
The total logic failure in their propaganda is beyond cure, just read:

- Europe can't get 150 million of gas pipes and gas, Russia will export 150 billion to China and India via, pipes that will be built starting 2026
- Russia will sell 150 billion in gas to China and India, but Europe can't get that because...long contracts
But if Qatar and the rest are bonded by long term contracts with all of South Asia, how will Russia replace them, and wouldn't that mean all the Arabian gas then can be redirected elsewhere
- Europe can't build enough LNG gas facilities, and Russia will export its gas to South Asia via LNG ...for which it has no facilities
- Gazprom posted records of 20x in profit compared to 2020 because of prices being 15 times higher, but, still 20% lower than 2018..because...crickets
- Russia is making a killing because oil prices are higher than before, although the Ural sells at 75$ and Espo at $80, which is actually lower than what they were getting in 2018 

But you will not see them commenting facts, they will come with the 10 countries that agree on paying in roubles, as this would change a thing, they will come with Urakine will be conquered is Russia would commit, and stuff like that. Meanwhile, on Russian state tv:
https://mobile.twitter.com/TechTraderView/status/1523389860748271616

Look at their faces, live on national television they are told, nothing we can do against a Nato army.
The same guys that were talking about conquering Lisbon in a week. 

Nice catch @holydarkness, that website has only one page,  you can replace 878 with 129121 and it will still go to the same KYC report for  Exis.
I never even tough that kind of service even exist, why would people trust any of them, especially with the never-ending Tether audit saga?

I see people praising Certik here, remember Arbix Finance? Fully certified by Certik, pulled a rug scam, and investors were left with the certification.

Oh, and btw, their images about the game, just random jpg copied from the net and the slide is copied from Oculus.

There was no FUD, there was just a politician playing the masses like a pro!
After one full month of not mentioning Bitcoin even once, the Buakake trader is back at it, buying the "dip", because he knows he's in such deep shit he needs his fans to cover for him.

Everything about Bukele and his promises and his economics was just a bunch of lies

- the 95 MW well dug in two months, never existed, couldn't even exist at all as there is no such thing in the world
- free geothermal energy, lol, Salvador geo generated energy hasn't increased a bit in years
- miner's heaven with cheap green energy, lol, Salvador just launched a new 400 gas LNG powerplant
- the mining farm consisting of a container with 10 refurbished s15?
- the bitcoin bond, the bond that would fund building a city, another lie. The actual cost was 11-15 billion, and half of that billion would go into purchasing bitcoin. Now, if you don't have a brain-eating bacteria affecting you, why would you sell your coins, and buy Salvador bonds so that they can use them to buy bitcoins?
- let's break away from the US tyranny, after calling Biden a moron for saying Russia will invade Ukraine, lol, he also forgot another thing, that in June he received the aid of 115 million from the US, double the amount he spend on Bitcoin, and another large chunk in November, 300 million to be spent along with Honduras
- and of course, he fights against the evil FMI, while sending each month negotiators and pleading on all fours to lend him 1.2 billion
- by omission, the 400 million issued in debt to cover the government deficit in 2021?
- the pet hospital constructed with BTC profits when he has actually lost 25% in USD value, profits that, how you even have profits when you don't sell?

Bukake (not a typo) is the perfect example of why you shouldn't trust politicians at all, they don't do anything just for your sake, and all they do with your money, it wasn't Bukake spending his money he was spending his own people money to buy coins, the 30$ he gave he didn't do t from his own pocket, he did it from their own, juts like your wife takes your wallet to go shopping and you would assume everything was free because she bought it.
But people love to have a hero, laser eyes, tweets, and lies they know they are not true but you need to have something there, a guiding light, and just like religion when you desperately need some comfort. And there is Bukele, the savior! And god forbid showing them he is not a hero but a politician! Pitchforks!

Bitcoin doesn't need Bukele and it doesn't need Salvador's approval, bitcoin needs people that use its strengths for their own needs, bitcoin doesn't need politicians, politicians, and basements pos that live on likes and shares desperately need Bitcoin to have a reason in life.


Hope more learn this now and don't forget by the next tweet of some wanna-be senator who needs a comfy seat.

This happens when you chew Russian propaganda all day and forget about the context, clearly stated in every article.
So Gazprom made a huuuuuge profit of close to $21 billion in 2021, and this was a surprise because?


https://www.reuters.com/article/us-gazprom-results-idUSKCN1S51DU

So despite record gas prices, it was a worse year than a year we didn't have covid, can you now use your magical armchair general mega economist prediction skills and explain how the profit sank even with those x15 prices? As for the 10 countries that have accepted to pay in rubles, I wonder if anybody can actually prove that, unless we're talking about Ossetia, Abkhazia, Transnistria, Chechnya, and so on. Maybe we would have to add even Bartovia to reach 10.

Now, if you would have just accepted that bet about Russia conquering Ukraine in a few weeks and if the world would spring the other way around you would have had a full bitcoin by now. But, as usual, only talk, no spine!

We have psychological barriers, it happens with everything, back in my early days people were talking about how in a market dominated by Chinese fake volumes like Huobi and OKCoin every damn number was meaning something, and you can see it with every national currency that is more volatile, it takes a lot of time for them to brake a 1:10 barrier but they spend no time after that rushing to 1:20. I was just talking with somebody from Romania and the euro is at 4.9x for them for months, somehow not willing to make the final step.

Without even looking at the depth on Binance, I'm damn sure there are more market buy orders on 22222 than on any number that is not rounded up to thousands.




Bitcoin was first decoupled from the stock market because it had the enormous potential of growing x10 x20 overnight, unlike normal stocks,  but that is no longer possible, it's not just the above picture it's happening every single time. It happened when covid first struck, it happened in December, it happened when the war started, and it happened now.
My only regret is that's not the other way around or I would be able to short some stocks before the markets open.
Looking from one side, it's nice it has become something that is clearly overlapping with the global economy.


Oh no, it was nothing like that, I didn't catch the moment,  33333 was just the lowest that day, I looked at it about an hour or so later, just how now it seems like 33200 is the new low hit. I'm not overthinking it in a bad way, I'm not bothered about it or fear something, it's just like a damn mosquito that is really annoying and you're too tired to get a slipper and end his misery.

So I just woke up, savoring the smell of coffee, starting a new workday, birds waking up and singing in the garden, and with such a pleasant atmosphere around I had nothing better to do than to look at the price



To be honest, if it were 33017 or 32862 I wouldn't have cared a bit but this 33333 just pissed me to the max, don't know the reason why, probably because I felt it was totally manipulated and some exchanges are simply playing with the price right now! Since I don't believe in any TA or other random line bs, so let's keep those things out of the equation, why are we here, genuinely asking, why are we at this price?

I'm not concerned long term, I don't plan on checking if Subway or KFC have any job openings, but I'm still wondering not only why are we dropping but what's more intriguing for me, if all the good news we had lately wouldn't have happened, the situation would have been far worse, right? I guess.
We had some minor news about Madeira, legal tender in CAR, acceptance in Panama, some altcoin founders or owners or whatever those guys at Terra are buying tons of bitcoins, other investors also buying, Fidelity 401k,  every politician trying to approval or legalize bitcoin, the planting ATM in the Mexican government building, and many more headlines, with little or bigger actual impact, yet we're going down, (although since I'm so bad at predicting stuff by the time I hit post the price might skyrocket back to over 40k).

So the question is, if all the good news stop, and we go full bearish, where do we stop and what do you think will trigger the change in trends?
I simply can't picture the news that will change this, and my bet is that suddenly with no reason we're going to climb back!

Btw,
22222 anyone? 

So, my mailbox saves tons of thousands of tons of CO2, because once I've put it there is no need for me to do anything while receiving mail and packages and ransom letters   Seriously, this is just stupid, if you think you're helping bitcoin this way you're actually doing worse, you're just showing you have no clue how things work.

In order for somebody to send you coins, they don't only need their won electricity but nodes and miners need to relay and confirm your transaction, and that takes electricity, the more gear is mining the more secure the network is, and the less they do the weaker it is, there is no escaping from this thing. And good luck with your solar panels, wonder why no large farm is doing the same, there must be a trick somewhere!


Ok, let's compare it
Galaxy Digital (which is pro-Bitcoin) estimated the consumption of banks  at 263 TWh
Bitcoin Mining council estimated the bitcoin mining consumption at   247 TWh.

Quite close, isnt it?  

You could have saved a lot of server space if you would have simply cut the useless chatter and gotten straight to the point, when I tell somebody that all the flowers are blue if he wants to prove me wrong he will ask me if a rose or a tulip is not red! Same for the shitcoins, if you want to prove that there are coins with the utility you could have simply named them and same all the above charade which isn't impressing anyone.

Siacoin - aims to do -  did not solve a thing to date
Storj  - offers something - that is not still not used by anything major - solved zero
MaidSafe - common, is this zombie raising time
Filecoin- again storage again the same thing, zero actual irreplaceable usage, but a 1 star award for managing to get a 96% drop in price from its ATH

None of those coins actually help anything, all the projects behind them could have simply worked by paying the people renting the space in bitcoin, there is ZERO need for another coin. And you can take a look at how any of those actually work, take for example Storj and you'll see that the coin is not actually connected to the cloud storage, the revolutionary blockchain is actually not used at all.


So again, before you even start with another novel, read again and answer only if you understand the question, tell me those altcoins and tokens names that actually have a utility and can't be replaced by bitcoin. If you don't, well...don't!

The title is misleading:
   


Basically, you need 100-120% of your wanted house value in coins, put those as collateral and if the market crashes even for one week by more than that and you have no collateral left your coins will be liquidated to cover the borrowed sum. There is nothing magical in it and if you are so sure there won't be any downtrend and think that your coins will only go up, why not get a normal mortgage and use the coins to go long and reap even more rewards.


14% interest rates? Only nearly 3 times more than the national average? Lol, what a deal!

I can re-read your statement four hundred times and I can read your response nine hundred it won't change a thing, the fact that you failed to mention one coin or token that has an actual utility and that can't be replaced by Bitcoin, and since you're saying I'm missing the "utilities" you have mentioned what are those?  Common, don't be shy, one utility other than printing token after tokens with no utility at all.
You were triggered because I picked 5 random coins and those weren't the ones with utility, good, pick 10 out of the first 100 by your choice and tell me the utility behind it that no other coin has.

If you want to contradict my statement and prove me wrong come with the proof.

Pretty simple, you're allowed to do that and this and if you do otherwise you go to jail!
The usual way everything is regulated when somebody really wants it!

I went through his order:
https://www.gov.ca.gov/wp-content/uploads/2022/05/5.4.22-Blockchain-EO-N-9-22-signed.pdf
doesn't say much, but Califonia, democrats, election incoming, desperate need for money I can see how this will end.


As I said, California, if this regulation is not going to have something about race, gender inequality, and taxes on saving the planet it's going to be a miracle.


It's just the name left and California is not just Silicon Valley, companies migrate where taxes are low see what's happening with Oracle and HP, and there is little to be done after a lot of states have had an early start and are becoming more business-friendly overall.
Let's wait for the actual regulation, the more complex those regulations are the less attractive they are.

Well, short answer, everything, the long one is on the wiki:


This is the problem with it, it comes with funny situations, for example, the US gets penalized for public transportation, but for most of them, it's pretty comfortable and affordable to drive in a car, so a country might score more points despite putting their citizens through 3 commutes for 1 hour rather than 20 minings of driving. Political stability, lol, Turkmenistan has the son of the former president in charge and they have ruled since 2006, while the Netherlands has been going 9 months with no government.
Romania has 96% housing ownership, Switzerland one of the lowest in the world with 35%.
Healthcare is cheaper in Russia than in the US, yet the average male has a life expectancy shorter by 10 years.

And coming back to inflation and prices:
Turkey has a 70% inflation rate, Bangladesh and Honduras 5%, which one do you think is better to live in?
Botswana has double the purchasing power per capita of Vietnam and the same as China, do you think it's really accurate?
If somebody earns 10k and spends basic necessities 4k, he can afford a 100% increase, if somebody spends for his food and rent 1000 but that makes 90% of his income, a 20% increase will make him unable to live on.

Rather than asking about the standard of living, you should simply ask if the price rise has made some people forfeit their plans of buying something, far easier to answer, and far easier to quantify.

So we nearly touched $35k, revenue per TH went under 15 cents again, the difficulty still shows a trend of over 4.5%, at least it's weekend and sunny outside.

And one more piece of good news, cheap miners, you can get right now your favorite S19 95th from Bitmain for only $6,745 , shipping in 10 days, and only 450 to ROI with zero cost electricity. Or the brand new S19 XP Hydro with a 500 days ROI , but you'll have to wait till January 2023. I can't wait to see what they will plan to offer for delivery in 2024 just before the halving 


Percentage-wise it might be unsustainable, in terms of added hashes probably it will keep bumping like that for a few months every time there is a batch of gear delivered to some big buyer. There are still close to 7 of those hops alone from contracts that have been made public for this year so it's going to be a fun ride.

I wonder what's the average price at which those companies actually lose money on operations alone.
For the average S19 running at 5 cents per kWh electricity is 25% of the revenue right now, I wonder how much are the other costs, maintenance, security, electricity cost for cooling, and so on assuming a 1k or 5k miner operation.

Standard of living has such a wide area of definitions it's almost impossible to really quantify it and compare it states by state, even the far easier and easier to track purchasing power indicator is also completely flawed in some areas. Let's take for example Norway, it is close to the top when it comes to this but it still has some of the highest prices for almost everything in Europe, including 2.4 euros per liter of petrol, yet individual income offsets this balance only slightly, the ones that make it rise to the top are some that are completely distinctive to prices, like education, freedom, political stability, environment, infrastructure.

So just looking at inflation and prices is no way to picture the quality of life or standard of living for a country.


Oh, wait for the next election, you might elect a far-left that will make everyone poor so you won't have to worry about the wealth of others anymore.

Since you're mentioning IRS we would assume you're in the US so just withdrawing coins from an exchange, moving them around while they are still on your property is not a taxable event. You will only pay taxes when there is a selling event or an investment one, including paying directly with bitcoin for some property, it doesn't have to be BTC > USD exchange.

One more piece of advice on top of what the others have said, keep a copy or proof of the purchase and fiat deposit (if still possible) you've done when you bought those coins, it will help you avoid trouble when you finally sell them and you'll be required to pay capital gains on those as you might be required at that time to prove the difference in price for your gains.

I think that's the least of your worries if you're in the US.
Lately exchanges have increased their demands about the funds inch by inch, asking you when you get them, where you get them, proof on how you've got them, with what funds, probably ending with questions about the the pubic hair color of the dog of the cousin of the one that sold you the coins. So just obfuscating the chain of transactions won't help too much you in these cases.

That being said, I made once stupid mistake of sending coins mixed through CM directly to Bitstamp the mother and father of all KYC, nothing has happened yet, deposit and SEPA without a hiccup, so probably it's not yet such a big deal. Exchanges will try to delay any such actions as long as they can, they are losing money and volume, they might want to obey the law but not to the point when it strat costing them money.