Nobody is going to give subsidies to miners in this energy crisis and no miner will be able to compete with others with unsubsidized green energy. So there would be no miners left at all? In the west no, you will have just as many as plastic straw makers  As I don't think you don't know how the difficulty mechanism works (I thought I read you was engaged in mining, so you should, but I may be wrong), I guess you mean mining power would concentrate in a couple of authoritarian states. Well, this was already the case, from 2013/14 to 2021. As of now a lot is located in Kazakhstan which is also not really democratic. Of course, I'm not talking about an epoch of block times over 30 minutes or so, I'm talking about the realistic possibility of mining getting far more concentrated in countries and in the hands of people that are not that interested in the concept but the money. And here we have the slippery slope of totalitarian dictatorship, it's one thing to do business in China, something else in Tadjikistan, and far more "interesting" trying to set up shop in North Korea, and I'm ending this with NK because it fits here perfectly, a country that uses BTC but only for the ruling class interest. Once you have only a few countries left with cheap mining that could bankrupt other mining initiatives, a ton of gear at scrap metal prices, what stops such an individual to gain a majority of the hashrate, what stops his pools from banning tx under x, what stops him from milking everything he can get milked, just as masks at 5 euros. The security of the network depends right now mainly on the daily reward and the electricity price. Having the electricity price go up two times means doubling the cost, longer ROI, less attractive as a business, cheaper gear on sale, less hash rate needed to get 51%, not only does it get cheaper to attack it but also the problem of manufacturing the equivalent gear is no longer there. And risk this in order to label mining as a "green" industry? Fuck no! Abengoa didn't come close to bankruptcy due to Cerro Dominador but due to problems in Spain.
And the problems in Spain being subsidies being abruptly cut by the state . I've no problem to discuss the dirty details here, even if this means derailing the thread a bit because I don't think CSP is used massively for mining at this moment. We could discuss not hydro /geo renewables that are used by miners right now. There is only one that is in planning, and it's just a publicity stunt, the 3.8 MW "farm" that will power 1% of the gear Blockstream has. |
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I have a doubt upon its new feature addition to support the Ukrainian refugees. Binance has launched a crypto card. This lets refugees from Ukraine make crypto transactions as well as receive funds through the Binance Visa Card. Maybe this can be an addition to cover-up the complaint against binance. Binance announces crypto card for Ukrainian refugeesBinance paying 75$ to each Ukrainian who's data will be leaked to the FSB, name address, phone, where he is, his email, his Twitter account as lately Binance also collects those, and for sure what he has bought. Now let's assume Ukraine falls, or better not...!
I believe in binance. They can't do this because they are the biggest and the most trusted exchange. They won't let their reputation go down the drain
You've believed them when they claimed they will not be shut down in China, when they claimed they haven't lost their license in Japan, when they claimed they have been granted one in Malta, when they denied for a week about the first data leak only to blame it on somebody else after, when they lied about not being under investigation by the SEC? Reputation, lol.. They can issue some shitcoin and buy with it all the reputation they need from people with short memory |
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This is one hell of a can of surströmming you're opening here. I'm probably the last person on this forum to defend Bukele and his Chivo project but I don't think anything has failed, rather it has exactly gone as one could have expected.
Adoption, this is one tricky word, what does it even mean, people holding bitcoin spending it using for personal p2p transfers between family and friends or just trading? I can't picture an accurate definition of this adoption when it comes to btc, and even if we go for usage alone, there are other problems, for example is loading a debit visa card with btc usage?
One can argue that people hoard coins, very much possible, if the numbers from Salvador as little as they are would be quantified to the claims of users in the world, there aren't enough addresses and tx to cover that. So I'm not sure that adoption has failed, rather I would call it a failure of replacing traditional payment methods.
As for one of those numbers, the Chivo app downloads, the decline makes sense, every app does so after launch, you install it once and that's it.
But one more thing, and this might be a clear evidence of how things are going, is it just my impression or has Bukele stopped buying the dip for quite a while lately?
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I'm impressed, they actually went through the troubles of photoshopping their name and logo on those miners, and they've used the basics that were indeed made for the protocol. And they've found two morons that are still even now making videos on youtube that have promoted their shit. As far as scams go, pretty impressive. Too bad they couldn't just put TH not GH in that calculator, I would love to go back in time when 200Gh/s would earn you 0.05 BTC But I'm not surprised they're paying, these scammers often pay at first and then dump you once they reach a certain threshold, look they just got here.
I doubt they've paid anyone, times are bad for those scammers too, people are not interested in mining anymore at all, and there are tons of scammers, so there is a real competition, they will probably be happy just with the first deposits. Fortunately, I see fewer and fewer people getting scammed from these schemes, they have shifted to investment schemes over Tinder now, better chances on trying to score a $10k jackpot once rather than waiting months for 10-100$ "mining contracts". |
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LE:
Want more rewards?, instead of 0.5% to 2%, so easy, just stake 10k euros with us!
Are you talking about cashback? If yes that is crazy demand for only 2%. Afaik, to get 2% via Binance card you only need to have 2 BNB which is at the moment ~750 euros. Yeah, "cashback" which is not really cash but a token who has as I'm checking the market a habit of going 100% up and 50% back down, and you're not really getting it back either unless you stake!  So, it's more like a promise to get a cookie if you get an A+! Still, unless the card didn't expire, I don't see any good reason to throw it away, not yet, as long as there's no monthly fee.
Well, more like closing my account on Wirex completely. This whole legalization and taxation of cryptos will sure give birth to some moron crypto experts over at our IRS counterpart that will manage to find I have earned 10 euros on some god-forgotten service I used years ago and not filled and paid my taxes. So the fewer possible headaches, the better, imagine asking for a detailed report on the profits made on each conversion. Not worth it in my opinion. For example if I want to buy something worth 100 RON, I see a 20 EUR and an 100 EUR (!!) transaction, both rejected.
RON to the moon? 500% in one swing is quite nice! |
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What is with New York?
It's called trying to find somebody to blame and a way out of their own mess. They were pretty trigger happy when signing all those acts on reducing those pesky CO2 emissions and just as happy on shutting down a nuclear plant only to find out that they can't really replace that energy without powering up 3 gas plants instead and their plans about CO2 emissions are down the drain. So now the hunts start to shut down everyone that burns gas or coal since somebody was a moron 10 years ago and didn't realize the world can't run on unicorn farts. When it's just one region, it's no big deal, if it's a global trend, that's a problem.
It depends on the region, it's one thing to have Vermont doing this and a different beast for Texas or Georgia. But I don't see republican states following this or at least I hope they don't. |
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They also called for greater punishments for crimes involving cryptos. WTF Does it mean we can get a discount for prison if a criminal used a fiat?
How a punishment can depend on which currency you used? It's discrimination.
Don't know why this is like some standard, even with the CAF they somehow felt the need to highlight those 20 years of maximum prison sentences. Furthermore, the penalties and repercussions of working around the imminent Bitcoin-centric regulations were also highlighted during the Senate session. Senator Arns went on to pitch his idea with regard to penalties. He added, “The penalties must be proportionate to the amount of value affected by this type of crime. So whoever committed a crime of US $1 billion causing damage to thousands of people would have a greater penalty than the someone who affected less value.” No shit! Someone who scams online for 1000 satoshi should't get the same prison sentence as somebody that runs away with 100k BTC worth of people lifesaving. Glad we have this covered. I think this is a first, regulate virtual currencies and air miles in one package, not mentioning the history of the bill is about 10 times longer than the bill itself with the amendments! Anyhow, happy they've got this working in 5 years and not 50, hope it won't have to wait another 2 or 3 years for the actual vote of a 3 page law. |
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The fund buys bitcoin with the funds the buyer of the fund used to buy the fund's shares in the first place.
You did this on purpose, right?! Moving from haikus to tongue twisters? However, sources close to Cosmos reportedly stated they were hopeful the strategy of buying units from the existing Purpose Bitcoin ETF listed on the Toronto Stock Exchange, rather than actual bitcoin, might be more appealing to the prime broker which would allow them to list before its competitors. I've never thought I was going to replace the obvious question "Why not buy BTC directly" with "Why not buy the BTC denominated stocks in the first place"? Total clueless noob here but are they actually allowed to do this, and treat it as BTC for their clients when in fact it's another investment fund? I might also be overspeculating, but this might be tied to the flash dump in btc price we have seen on the same timeframe.
Doubt it, it was probably more the scare from the stock markets, lately every single bad news from there starts to reflect in BTC price too and on top of that if you have this sort of article even on Coindesk, 3 Signals a Crypto Crash May Be Coming, According to Experts, from "professional traders and market analysts" it was expected. Btw, I'm full panda again! |
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So it is finally acknowledged to be legal tender and not legalized currency or a means of payment, the news over the last few days has been all over the place. This is wonderful news, unless I am missing something: the first country having its own currency (CFA) and still adopting Bitcoin.
Not so much their "own" currency more like the euro model but on top of that with a pegged currency, I don't know how this could have even worked, but looking at the economy of those countries, yeah it didn't. For visibility here is legislation in the text :   Excuse my french but doesn't that thing make all cryptocurrencies legal tender? There is no bitcoin there it's just cryptocurrency as far as I'm reading. The CAR is also having the same condition where the country is dominated by the US dollar for trade off and buying/selling of stuff so you see they find an opportunity to free from the chains of USD through this bitcoin and providing people with decentralised control of their funds and ownership of funds to them.
They have their currency pegged to the Euro, their imports come from Europe mainly, and their exports to China and the EU, why would they even consider using the $ and not the Euro for example? |
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Four European gas buyers have already paid for supplies in rubles as President Vladimir Putin demanded, according to a person close to Russian gas giant Gazprom PJSC. According to Gazprom, so you could trust this just as much a badger doing your algebra homework.. Meanwhile, the only trustable news is this: https://twitter.com/karlnehammer/status/1519236100375601152Before fake news of Russian propaganda is spread further here, OMV will continue to pay for gas deliveries from Russia in euros. Austria is sticking to the jointly agreed EU sanctions. As usual, misleading Russian fake news, who are those four European buyers? Hungary, Transnistria, Serbia and Abkhazia? Use your brain, gas was already paid via Gazprom so how can you claim that 10 countries opened accounts at the bank now? Go grab 3 sims copies! |
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Hihi, this is going to be funny https://www.nysenate.gov/legislation/bills/2021/a7389/amendment/cSome of the miners won't be affected, the ones in the north that have managed to get contracts for hydropower near the border or from Canadian imports might get a breather. Others are in deep trouble. Stronghold is done for, they have just invested million to raise the production to 500 MW Crypto Throws the Coal Industry a LifelineAtlas has a gas plant that is already in trouble at Finger Lakes. Both companies are the ones signing that BMC "fact sheet" about being 60% green, just lol. Anyhow, it's New York, this won't be a huge problem, you can move to Texas still has 80Thw of excess power near matching what Kazakhstan produces overall. But if Texas goes "green", it's going to stop being funny at all. I do not know why also other industries are not banned not to use electricity that produces carbon in their operation.
Well, this is imho a great point and, if US legislation works in the same way as my county's, this can be attacked for discrimination and get "nulled". Won't work in court. Ignoring the fact that the state has the power to suppress any activity in the state by law, the thing will start with the fact that the mining operations do not provide a direct service or product to the people of New York, and good luck convincing a judge how an individual miner is essential to validate some tx other can just as well. |
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@stompix: The entire point of the thread is that renewables are still (in many regions) not the cheapest option. So again, miners need additional incentives to change to 100% renewables. But if current tendencies continue, then this will be the case in 5 years or less. So the goal would be to get miners to operate now as if costs were from 2027.
And I'm telling you what's going to happen. Nobody is going to give subsidies to miners in this energy crisis and no miner will be able to compete with others with unsubsidized green energy. The outcome will be as simple as the first days of covid when you had to either pay 5 euros for a mask or cut your t-shirt to make one, except that now you're going to have to pay some African warlord or some Asian dictator another fee on top of your bitcoin tx fee so you can get your transaction confirmed, a ViaBtc accelerator mandatory and not free. But this was three years ago; if we continue with the tendency of 13% price fall per year, then we have 5.91 cents for 2020, 5.15 cents for 2021 and 4.48 for 2022.
And by 2050 we will get paid to burn electricity, right? Ouarzazate has also the advantage that it's mostly a CSP plant and produces some energy also at nighttime due to molten salt storage.
When a 100MW plant produces 380Gwh a year and has storage capabilities for 7 hours, there are 9 hours a day missing from the scheme! A more modern CSP plant, Cerro Dominador in Chile (inaugurated in 2021), has already a better efficiency: it costed 1 billion USD for a production of 950 MWh/year. With operation costs and assuming 40 years of operation we're getting values slightly over 4 ct/kWh. One of those numbers is definitely wrong. Also: https://www.reuters.com/article/us-chile-energy-solar-idUKKBN1X9132But two years later, Abengoa came close to bankruptcy and was forced to sell Cerro Dominador, slowing construction of the plant as new buyers were sought. The delay was costly.
By the time the plant was resurrected last year with funding from banks, the Chilean state and U.S. private equity firm EIG Global Energy Partners, it was no longer competitive, or particularly sustainable. So 1 billion and then it had to be bailed out by the state. What a surprise. |
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Seems like everyone abandoned this service, or everyone is happy and they have nothing to complain in this topic, which of course it's not my case. Since I've got a new phone I planned to do a lot of app cleaning, found wirex again, I wanted to see if it still works, suddenly the balance is 50 euros in wxt, since I had that wallet ignored previously I wasn't aware of the how much reward I had, so I said, let's spend it, blackjack and hookers! Not so fast, when I tried to exchange my wxt seems like I need at least 18154 wxt at a price of 1euro =131 wxt so around 140 euros as they've probably set this limit to be around 150$. So to get my so much advertised crypto rewards I would need to spend 30k euros on the standard plan!!!! I know for sure there wasn't such a high limit before as I did trade some a year or so ago but now, this is pure bs. LE: Want more rewards?, instead of 0.5% to 2%, so easy, just stake 10k euros with us! Seems like I'm going to toss them all in the shredder. |
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I think Poland is chosen by Europe as the advanced vanguard for reconnaissance in force, to see how serious Russia's intentions are to turn off the gas in case of non-payment. Now Europe has to pass the test of how United it is.
It's the opposite, Russia tries to test the waters. Poland has already told Russia it will not renew its contract because it's getting the gas from Noway via the Baltic pipeline, this was known from the start of the year well before the war started: https://warsawinstitute.org/polands-plan-challenging-russian-gas-dominance/The Yamal natural gas contract, signed in September 1996 between the Polish gas company PGNiG and the Russian energy giant Gazprom, expires on December 31th, 2022 and will not be renewed, since gas will be imported from Norway from the 1st of October, becoming more independent of the whims of the Kremlin. So basically Russia stops deliveries to somebody who didn't want them anymore! As for Bulgaria, it's the easiest target they could find, highly dependent and poor, with a lot of pro-Russian sentiment, if they would really want to test Europe they would cut gas to Germany, or, they would stop paying Ukraine for gas transit money! But they know that if they go that way it's game over and there will be a lot of gas flaring happening. Sokol is trading at 73.78 and Ural at 76.40, seems like deliveries to India and China are not happening or what? |
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I think this is personally a great idea, Cryptocurrencies for many years have always had some kind of link to illegal activities, doing this will slowly prevent illegal transactions and actually help regain trust in the Crypto world,
Why do you need this "trust" ? Oh wait, I already know, because you're not interested in what cryptos are but because you care so much about the price, am I guessing right? Bitcoin already has all the trust it needs, that's why is valued at this ~40k, not because some government says something, bitcoin is valuable exactly because it's your keys your money and nobody can touch it, the moment any cex or so-called de or authority will be able to ban addresses, reverse transactions just because they think something is not right that's the moment crypto will be a failure, it will be just like tradable stocks nothing else. My question for you guys is where is the decentralization in the crypto space? I keep telling a friend that decentralisation in crypto space won't work out 100% because this will increase the crime rate in crypto space, the law will force those dex to take actions or face the consequences of nailing them for giving criminal a clear passage to accomplish their crime activities.
You can't force a true DEX to do anything! There is nothing stopping a truly decentralized exchange just like it's impossible for someone to block everyone from saying "hi" to other people, in a true dex there is no central point that can intervene in anything, it's decentralized! so no administrative authority! |
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Interesting how "highest quality of life" means also highest suicide rates  Hm, I don't see many developed countries in the top 20-30 countries by suicide rates. The west is bad bruh! Everything here is bad! Reminds me of that joke A Russian guy wakes up, stops his Japanese alarm clock, goes to the bathroom shaves with his American razor, drinks a coffee from his Italian coffee maker while watching the news on his Korean tv, grabs his iPhone, jumps in his German car, and while cursing the Russian potholes arrives to work where while smoking some Gauloises he tells his colleagues how everything from the outside is bad. The list was way longer but you get the point. We have a similar situation here in Croatia (we were part of Yugoslavia that was socialist country for ~45 years), where people talk how communism was/is great and how they think that the way Outin runs Russia is great but they all fled to western Europe countries like Germany/Austria/Ireland instead going to the east. I wonder why . Just like that Russian lady the other day swearing at a Ukrainian girl in Sweden, how bad Ukraine is and how Russia is great with her living for 30 years there, the Russian is so proud of their country but everyone tries to get out of there. Communism and socialism are nice on paper when you live in a capitalist country and you don't have to wake at 6 in the morning to stay in queues for milk, once you have a taste of it suddenly you realize capitalism is way better. You are seriously misinformed.
There is no doubt that Russian military equipment is very weak but it is just as weak as their Western counterparts.
That's why the wanna-be superpower from the middle east is still flying American F4 and F5 built 50 years ago? |
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Decentralized Finance Crypto Exchange Uniswap Starts Blocking Addresses Linked To 'Blocked Activities'
Repeat after me, decentralized exchange blocks users, decentralized exchange blocks addresses and ips, and if you're wondering why I ask you this do it till you finally realize that a truly decentralized exchange won't be able to do such a thing. This is why the whole Defi is just a buzzword and the whole industry is just a failure, there is nothing truly decentralized, it's just like the FinTechs were supposed to change how we do business with the banks and credit cards and in the end, ended up becoming banks and using the same infrastructure. Same here, all these Defi exchanges are turning into things just as centralized as the traditional cex. Not to mention that the shitcoins are now just as centralized as you can get so they might simply block your address from transacting on a whim. This exchange isn't good anymore, who's next?
All! Sooner or later all of them will end like this. |
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Things are getting interesting again, looking at Phil's post in just 5 days we went ahead by 64 blocks: Latest Block: 733646 (43 minutes ago)
Current Pace: 105.1064% (1839 / 1749.66 expected, 89.34 ahead)
Next Retarget (earliest): Tomorrow at 7:24 PM (in 1d 4h 4m 0s)
That means nearly 13 blocks more per day, 9% a day above the previous average, and!, all this with the price going down from the previous period and not the best timing in this one either. So, early May shipping from Bitmain and Micro? Let's assume it's just 5%, that's 10 exa, ~90k s19pro, or 70k s19xp! |
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I researched almost all sectors that you can do biz with small capital ...on any of them i try biz plan they fail...
Exim is dead Fast food / restaurants are dead Tourism is dead
Construction ...no one is buying / construction materials prices are up
Transport is a nightmare this days
Real life news :
Vegetables ,food has become much more expensive , taxes increased ,now around 30% of world population is without a job .
Riots in the USA,UK etc China - India preparing for war In my country now they are floods after drought , we supply the world with agricultural products ( same situation for other countries like Poland,Russia,Ukraine etc )
North Korea preparing for war ... Hyperinflation knocking at our door ... Europe / Uk problems ( Brexit etc)
spy100 in 2200: The world is going to end, I'm telling you!!!! Crypto dev is dead ...very few are buying and want small projects
Glad to hear that, so this means nobody is buying your scam coin? Are you serious lol. These professions are still pretty hot and understandably so — we're in the freakin age of work-at-home, people on their phones all the time, and digitizing almost everything.
Yeah, unfortunately, he is serious, he thinks that because he can't afford to go on vacation tourism is dead, because nobody wants to buy his crappy WordPress themes the whole websites sector is dead, because nobody buys his scam coin, crypto is dead, because his girlfriend has broken up with him there are no women left in the universe. But the main problem with him is that unlike other trolls who usually abandon their tagged account this guy clings to them using all of them at once making this shit. Let's just hope the mods have had enough of him. |
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The below article is one of those that states that:
- BTC has not become legal tender in the CAR
Nobody read the articles anymore, it's one tweet laser eyes and the horde will repeat that ad nauseam without even caring what the real news is about. But still funny how lately we've seen these initiatives from the poorest of the poor like Honduras, the poorest region of Portugal, and now CAR which beats all records to date. That aside, if the If that "authorized entities" wasn't worrying enough, the next paragraph: The new crypto law has also made provisions for offenders who break the laws. According to one report, offenders could be jailed for up to 20 years and fined between 100,000,000 to 1,000,000,000 Financial Community of Africa (CFA) francs. Central African Republic is the 2nd poorest African country, having only $988 GDP per capita,
That's PPP, it doesn't matter when we talk about Bitcoin, the average nominal is $500, yes you can afford more food for those in CAR than in the US, but it will only get you $500 worth of Bitcoins. Not to mention tx fees will not be related to the purchasing power either. |
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