We read a fair bit about mining launches in North America. I haven't come across many updates, or much confirmation that they actually got rolling, after the initial announcement has been made. I guess it's in miner interests not to reveal where they set up if they manage to get a scoop on power or premises. It might be more diverse than we think. Dunno.



Perhaps we need that China shock to demonstrate how ready mining is to abandon it and how ready mining elsewhere is to take up the slack. I saw a Mr Ripple drooling on about 'China' reversing Bitcoin transactions. Puh-leeze.

Every time people fretted, or FUDded, about Bitcoin's dependence on something like Silk Road or the piece of shit zero fee Chinese casinos, when they died Bitcoin shrugged it off and became ever stronger.

I'm hoping it creates a hive mind. I can't wait to be drowned in the insipid and fascistic thoughts of Twitch and Twitter shitlords.

Start by forgetting the altcoin section if merit is your desire. No one has any there to give out. After that try a post that is more than a redirect to Steemit. Looks like most of what you're linking to is your writing, but your writing isn't on this forum, it's over there.

I think it can be handy to familiarise yourself with the pure mechanics of trading. Beyond that in trading you live and die on the mastery of your own emotions and if there's no actual money on the line then virtual trading won't scratch the surface there.

I'd do virtual first just to make sure I wasn't making any obvious mistakes in executing trades. Then I'd switch to very, very modest amounts to see what happened.



Your small amount may turn into a large amount and then you get that experience for very little risk. Anyone diving straight in cold is likely to end up crippling themselves before they got started.

Makes sense. I can't imagine any of them bothering with a proof of keys day, not even standard Bitcoin fans appeared to be arsed with that.

Presumably there's a legal requirement to declare your operation is carrying that out? Again, hardly anyone's gonna care since they're primarily pursuing dollars.

No. They are explicitly excluded here because it breaks noob hearts when they figure out it doesn't raise their real figure. Poor mites.

Another thing I'm interested is whether money heads more towards the raw buying of the thing itself or prefers to continue to dance around it with infrastructure investment as much of it has done in earlier days.

There's got to be a point where you let go of 'blockchain not Bitcoin' in the face of gains comparing them. If we take Circle, they must have thrown away several hundred million dollars or more on shit investments since they entered in 2014 or whenever it was. I hope for their sake they owned some too but I wouldn't be surprised if they never did.

They've been consistently and quietly bullish all along. Nothing has changed. They wouldn't have bothered building Gemini if they didn't have a deep rooted belief in it and a desire to uplift it, they could've just sat back on their holdings.

Where we're at now is still comparative chump change. If and when it gets to six figures that's when the truly gargantuan pockets start to pay attention and they're the ones who move markets. So far it's been LARPing compared to that.

If someone's expectations can't wrap themselves around that scale then someone will be along shortly to buy it off them who does.

I agree with that concept but it has a large 'you first' element.

I'm sure every one supports less china as long as they don't have to subsidise it.

That struck me too. No one lasted very long pursuing anything other than ruthless profit so I dunno how he's framed this with his board or whatever. They're not going to care about future geopolitics if they're burning untold millions per month today.

They wouldn't announce something that has no legal right to exist. That would be a waste of their time and money, and everyone else's. An ETF is only one form of wrapper. There are many others ready to roll right now without having to speculate or smack your head against a brick wall.

I support their right to sell out.

What irritates me about this case is that the whinee wants something they could've and should've done for themselves. If they can't see that expecting Coinbase to do the same when it's a shit ton of hassle for no gain and possibly a security risk then they're a stupid, mindless slut.

Incompetence in the sense of allowing it to flourish.

Everry step of the way the south Korean government has been way behind and appeared to be laying there farting in its own juices while people ran rings around it.

I wouldn't pay much attention to market cap at all. Volume is much, much more relevant and important, but it would have to be volume on exchanges with some credibility. If the volume isn't there then everything else is meaningless fiction.

Most of the obscure shitcoin action takes place on exchanges that can't be trusted to tell you the truth. I've looked at order books that were 50 dollars deep with millions of dollars in trades happening like magic just above those 1 cent 'walls'.

If there isn't volume you can't realise any profit. I've seen people say 'holy shit, look at that Xcoin pump. Whoever got in early must be rich.' Then you look at the volume of that $100 million market cap coin and you would completely squash the market flat trying to complete one $500 sell.

The price will never stabilise. It will calm down as the whole thing grows but sooner than we expect its inflation will become effectively nominal. Even if all the action stopped and it sat there and did very little it would still be worth ever more in the currencies it's presently measured against.



Yup. I expect if I ever attempt to pay for something in Walmart in 2028 with Bitcoin I'll have a rotten fish thrown in my face as they yell 'don't insult us. Get yer Polkadot out, you skinflint fucker.'

https://fortune.com/2020/08/27/bitcoin-mining-dcg-foundry-north-america-btc/

Barry Silbert made an announcement of an announcement yesterday. Guess this is it.

From reading this I didn't realise Bitmain's plans to mine in Texas had gone up in smoke. Hope this lot have done their sums.

I think it'll be technically possible but users simply won't want to do it en masse. You don't spend what you think will be worth more in future, especially if you have a more common alternative that does the opposite. It goes against both logic and human nature.

What is it with the South Korean market and incompetence? You'd think they would've got rolling with impressive techno sheen but it seems to have been a chaotic improvisation from the start and it's continuing.

I'll bet the majority of places outside the top bunch are doing the exact same thing, and the top bunch did it themselves too in the early days.

I wonder. The companies arriving now should do well. But that won't be the majority of course. They'll arrive just as it's priming to bone them up the botty. No reason why they won't be like every other starry eyed newcomer and they'll go overboard.

When a Bitcoin crash starts destroying conventional companies with otherwise no relation to it that's a rather different matter to us wingnuts getting a kicking.

The last thing I would ever want to spend my hard money on is a bunch of stuff that's going to emerge from my anus or willy a few hours later. That's what your depreciating fiat is for. My weekly shop bought with BTC in 2011 would now be worth one million dollars.

 If it's to be spent, spend it on something productive or enriching. It will forever be the spending of last resort which means I don't think it's ever going to become a widespread currency.

While they can't touch the core of it, they certainly can screw with the price and acceptance. Fractional reserve/ paper Bitcoin is the one everyone's waiting for. They've never not done it in any other market so I can't see any reason why they'd make this a special case.

The difference between Bitcoin and everything else is that it's instantly verifiable and deliverable and anyone can store and trade it themselves. However it's pretty clear many people don't give a shit about that and Wall St will run with it.