Luna has a lot of conspiracy behind it. After the fact many people came out and said they knew it was going to fail, basically they all said that in hindsight.

There is fud in every coin pretty much even today. Eventually some of those fud will turn out to be true and people will start bragging that they were right from the beginning.

The issue with ETH going POS is that miners will no longer keep the network decentralized it will be the top 1% holders pretty much since that is how staking works.

It’s good for the environment but it’s no different than what we have with traditional banking systems. This was not satoshi goal when he created Bitcoin. Basically the largest holders will get most of the staking rewards and most small users won’t be able to stake at all.

When we get these 8 or 9 weekly red candles it’s not a good thing because it means there are no buyers. The lower the price goes the more people will sell and others will be afraid to buy.

Some are saying it’s bullish because BTCUSDLONGS on Bitfinex is hitting record highs however if you look in the past they generally add whenever there is a big dip, and it can keep on dipping before it actually reverses. So if we head to $20k those longs will keep going up also.

Today was not a good day for Bitcoin. Ethereum looks like it’s about to break the yearly low, stock market had a nice rally and Bitcoin went down. Means it has decoupled finally however the wrong way. We were expecting for crypto to rally when stocks go down but we got the opposite.

Right now it’s not looking too good in the near term, the $25K can easily get tested sometime soon. Especially if Ethereum breaks the $1700 support. On the usdt pairs it already broke the low such as like on Binance.

It’s hard to say which GPU is better

1) Which was overvolted and overclocked inside an closed computer case with bad ventilation which was gamed for 1-2 hours a day for 1 year.

2) Under bolted and under clocked open air GPU which was used 24/7/365.

Which would you pick if you were a buyer?

It’s like the stock market regarding market caps. Some stocks have market caps in the trillions like Apple however that just means if everyone sold at the last traded price which obviously is impossible unless an equal amount of bids were at that price.

When in reliability all it takes is a small percentage of that market cap in sell pressure to reduce the market cap by like half or so.

Same with Luna. Most bought it when it was cheap and never sold. And some bought it a few months back when they were buying BTC to fund the stable coin. And that money is gone now.

My area to buy would be the 200 weekly moving average. If you look at a weekly chart since bitcoins existence you will see it as strong support.

Last I checked it was something like $22K. Which is ideal since I don’t think the old ATH will be reached. And I think we will chop for the summer and the $25K will eventually be retested and broken. Way too much negative news lately for Bitcoin to not retest the $25K area at least. All the bounces are very very weak.

If you guys frequent Twitter you will see tons of FUD for Ethereum, mostly is non sense. However even Saylor is attacking ETH with one of his tweets.

Basically saying that it’s a virtual world that is a copy. He didn’t state Ethereum but he said POS and we all know what he is talking about.

This is why the ETHBTC had a huge dump compared to BTC. Looks like it’s about to break the yearly low.

There are many reasons why someone might rent hashpower.

Most likely reason with ETH is that they can rent the hashpower cheaper than the market rate when the ETH fees are crazy high.

If you are into Defi, Opensea, and pay attention to any drops and when they will happen. You can rent hashpower on the cheap and when fees are like 1000Gwei for a few moments it’ll pay off big.

You guys heard about the Ethereum beacon chain getting a 7 block reorg? Seems to be creating a lot of controversy and wonder how the merge go? Maybe it will get delayed again.

I am not surprised they are running into these issues. The ETH software is very long and complex and it’s been years for POS and they still can’t get it right.

Bitcoin is simple and not complicated and never runs into these issues.

Yes gamers don’t want any GPUs where they were used for mining. I lost maybe 25% of my used GPU sales due to this.

When you got more than 4 GPUs for sale, it’s easy to tell you mined with them. No point in denying it. Many people didn’t care. Some just wanted to make sure it still works and that’s it.

However there are those that didn’t complete the sale when I told them they were mined with. Nothing I could do.

This is good but it’ll take a decade to have a noticeable effect, especially to replace Russians energy. Solar energy would be enough to power the entire planet however it’s very difficult and expensive to collect this energy.

I looked into this at my own home. However the cost right now is way too high and many people are also considering the same. Even the technology has improved and they are cheaper now than before, it’s still a huge cost.

Well you can buy now, over pay a little or wait until it goes a little lower. The issue is you have no guarantee it will go lower.

Sure buying lower is better because you get more bitcoins for your money, however it might bottom before your entry and what do you do then?

Most will obviously buy on the way up and that it’s more dangerous because they can buy it and it can reverse and go back down again, just DCA for now.

Bitcoin going to $100K is one thing but believing that certain alts such as Doge going to $5 or $10 that is even more crazy.

Bitcoin at least came close to $100K, went 69% of the way there. But doge hitting $10 is just impossible. Even at $1 a doge, it had like $500Million worth of sell pressure every month due to the miners.

It’s the first time in Bitcoin history. The previous week was tied once in the past. The stock market also had 8 week losing streak going back to 1932 or so.

Right now things are starting to get out of control. Especially considering how small we get any relief bounces. Before taking any large positions you need to sit it out and wait for a reversal. Because it can get ugly this week or next week. Especially with all these bad earnings.

I remember back in 2008 during the financial crisis they kept talking about PIGS. It meant Portugal, Italy, Greece and Spain. They had a horrible recession with double digit unemployment. They had it for years even after the US economy recovered.

The high gases prices probably is nothing new. Compared to America most people there drive less and have cars with smaller engines. In America we got V8 large trucks and many commute 1-2 hours each day for work. In Greece they don’t travel as much.

So basically you read that article about that minard guy who said Bitcoin might go to $8K correct?

He had like 3-4 predictions in the past and all of them were incorrect. You would of been better to countertrade him.

When he says to buy you sell and vice versa. If anything this is a bottom signal.

You need to understand that what profits a certain coin makes now, doesn’t mean the profits will be the same in the future if everyone starts to mine that coin. Even if the price stays the same.

The supply is capped. ETH goes POS all miners will mine whatever is available and everyone will get a thinner slice of the pie.

Wonder how chaotic bitcointalk mining section will be in August.

I don’t think the difficulty will go down that much. Remember what happened to the difficulty during all the halvings? If memory serves me well they went down maybe for 1 or 2 retargets and then it went back up.

Even during bear markets the difficulty barely went down. The largest decrease I can remember is the China shutdown that occurred recently.

Basically the more price goes down… the less you will make. Price goes down by a lot but difficulty goes down slightly.

From what I read about the monkey pox it Isn’t as severe as Covid and most likely won’t lead to shutdowns. If we do have shutdowns again it might be due to some covid variant instead of the monkey pox.

Either way. I don’t think any stimulus will come. If there is more stimulus then we will be in a nasty inflation period for years to come. I don’t think the fed wants that.