d_eddie
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March 30, 2021, 01:28:13 PM |
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Sorry will read better next time.
That's puzzling to me too. Maybe because the US is doing much better then the EU in number of vaccinations per capita? I really hate the EU for being so penny wise pound foolish when buying the vaccines, yes they were very cheap compared to what the US paid, but of course now we are last in line (of the first world countries), costing muuuuch more in lost revenue.
Your "penny wise, pound foolish" feeling is shared by a few informed people. I feel differently, and I think the issue wasn't how much the EU paid for vaccine, but the low negotiation skills shown basically by Ursula von der Leyen personally. She should have left that to some seasoned shark tamer, like Mario Draghi. I do agree the net result is a mess for Europe. And the difference vaccination progress might well explain the present exchange rates - but then, why is UKP penalized too? UK is doing just fine with the vax. Another good point from you though. Thanks.
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Lucius
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March 30, 2021, 01:33:31 PM |
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Sorry will read better next time.
That's puzzling to me too. Maybe because the US is doing much better then the EU in number of vaccinations per capita? I really hate the EU for being so penny wise pound foolish when buying the vaccines, yes they were very cheap compared to what the US paid, but of course now we are last in line (of the first world countries), costing muuuuch more in lost revenue.
The functionality of the EU cannot be compared to what exists in the US, they are simply two different worlds, which can definitely be seen from this whole situation with vaccination. The EU has completely failed, or rather played out as a small child, while the US, UK and Israel, on the other hand, are far behind in terms of the number of vaccinated. A few days ago I read that the percentage of vaccinated in the EU is only 9%, while at the same time the UK has about 45%, Israel has already crossed 60%, while the US exceeds 28% just because Trump was unable to start the whole thing on time. https://edition.cnn.com/interactive/2021/health/global-covid-vaccinations/
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julian071
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March 30, 2021, 01:34:46 PM |
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Your "penny wise, pound foolish" feeling is shared by a few informed people. I feel differently, and I think the issue wasn't how much the EU paid for vaccine, but the low negotiation skills shown basically by Ursula von der Leyen personally. She should have left that to some seasoned shark tamer, like Mario Draghi.
I do agree the net result is a mess for Europe. And the difference vaccination progress might well explain the present exchange rates - but then, why is UKP penalized too? UK is doing just fine with the vax.
Another good point from you though. Thanks.
The UK is doing very well on vaccination, but poorly due to Brexit?
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cAPSLOCK
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Just wanted to mention, I am glad to see that as we are rising towards the ATH we are also finally starting to see a t least a little volume rise as well... still not exactly a stampede, but headed in the right direction. Here is to both continuing!
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Biodom
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March 30, 2021, 02:04:59 PM |
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Sorry will read better next time.
That's puzzling to me too. Maybe because the US is doing much better then the EU in number of vaccinations per capita? I really hate the EU for being so penny wise pound foolish when buying the vaccines, yes they were very cheap compared to what the US paid, but of course now we are last in line (of the first world countries), costing muuuuch more in lost revenue.
...US, UK and Israel, on the other hand, are far behind in terms of the number of vaccinated. you probably meant ahead? That said..US has quirks...right now, Texas , for example, opened up for anybody over 16....and there are NO slots available for taking, at least in Houston, seemingly. What's the point? When they limited to over 65, then 50, there were always places where you could get it. Now-zero. They should have continued the age-slicing, even going by 2 wk or so-50 to 40 to 30, then to over 16, then everybody.
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AlcoHoDL
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March 30, 2021, 02:12:07 PM Last edit: March 30, 2021, 02:55:20 PM by AlcoHoDL |
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ATH prices (13 March 2021):
EUR-ATH: 1 BTC = 50,744.00 € (Kraken) USD-ATH: 1 BTC = $61,781.83 (Bitstamp) — Kraken's value was similar.
EUR/USD exchange rate: 1.218
Current prices (near-ATH, 30 March 2021)*:
1 BTC = 50,272 € (Kraken) 1 BTC = $58,964 (Bitstamp) — Kraken's value is similar.
EUR/USD exchange rate: 1.173
* At the time of composing this post.
The above EUR/USD exchange rate difference (1.173 – 1.218 = –0.045) translates to a difference of around –$2,260 at current prices, and this explains why Bitcoin EUR-ATH will come much sooner than USD-ATH, unless the exchange rate changes again.
Edit: The above result also demonstrates the pointlessness of comparing Bitcoin with fiat currencies, and the importance of the equation 1 BTC = 1 BTC.
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rolling
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March 30, 2021, 02:18:11 PM |
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Edit: Strange thing is, ATH for € is coming much sooner than ATH for $. Why? Maybe €/$ exchange rate differences between ATHs?
I guess EUR/USD price differences are too easy to arb for them to last long. Rather, I don't understand the present high value of USD with respect to EUR and UKP. USA are well ahead of other nations in their brrrr work. It must be the market's bet on quicker recovery of the economy in the US than elsewhere. Something like 70% of all debt in the world is in USD. There is high demand for USD because of this. When fewer people are working for USD and fewer people are spending USD, the only place people can get them is through the printing press. The problem is going to be when people start earning again, spending again, and the velocity of money explodes. That's when the price of USD finally crashes.
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Dabs
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March 30, 2021, 02:18:36 PM |
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But cloud mining was mostly a scam. I had a short flirt and barely managed to make a few sats before they changed the conditions. This feels different. Scamming 275k$ whales that can sue your ass looks like poor financial planning.
I wouldn't say its a scam, but just like not your keys, not your bitcoins, it's similar, if you don't have the hardware with you physically, it's ... tricky. I joined a few a long time ago, and they turned out fine. Later on, I had the opportunity to buy miners, and send it to some warehouse located in northern Canada (somewhere cold) and some guy from this forum will take care of everything. I think he had a few hundred miner hardware and an actual warehouse. I don't know if he still operates the mining farm today (most likely, I can easily check) but if I had to buy any ASICs today, I would most likely send it over to him to take care of. The mined coins go to your address, so you have to take a small portion of that and pay him his hosting fees, which include network and hydro (electricity) costs / expenses. He has the physical hardware anyways. I think what Blockstream is doing and some other large mining farms, they are "professionalizing" and "institutionalizing" the mining now. Also it scales well since they operate everything, large warehouse, large location, cooling, maybe a mining pool, etc etc. You could live in a small apartment and not worry about running miners at home even if you had the capital. Just let someone else do it. I think the idea is closer to something like REITS or REIT ETFs.
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Lucius
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March 30, 2021, 02:27:16 PM |
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you probably meant ahead?
Of course, my mistake. I know, it's not very smart to say US globally when it's known that every state can have different rules, but I didn't go so deep as to find such statistics. However, if the figure of 28% is correct (a total of 1 and 2 doses vaccinated), that is a very good result - because that percentage was below 5% at the end of the last president's term. However, the fact is that those who produce vaccines have priority for their own residents, which is quite normal - and the EU has nothing but one AstraZeneca factory in Belgium, which until recently exported the vaccine outside the EU, while the same company violates all signed agreements on delivery of the same vaccines to the EU. Yet given the number of deaths associated with this vaccine (AstraZeneca), for some the incompetence of EU bureaucrats may have saved their lives. From cases I could study in more detail in my country, people would simply collapse within 5-15 minutes after vaccination and die without having had any serious health problems before.
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greensheep
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March 30, 2021, 03:01:29 PM |
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Really don't know if this a good thing or not, last time it wasn't...
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bitcoinPsycho
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March 30, 2021, 03:03:34 PM |
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Your "penny wise, pound foolish" feeling is shared by a few informed people. I feel differently, and I think the issue wasn't how much the EU paid for vaccine, but the low negotiation skills shown basically by Ursula von der Leyen personally. She should have left that to some seasoned shark tamer, like Mario Draghi.
I do agree the net result is a mess for Europe. And the difference vaccination progress might well explain the present exchange rates - but then, why is UKP penalized too? UK is doing just fine with the vax.
Another good point from you though. Thanks.
The UK is doing very well on vaccination, but poorly due to Brexit? It's because we can now run our own affairs that the vax programme is going so well. Just look at Europe trying to ban exports to the rest of the world and arguing amongst themselves . Disgraceful
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cAPSLOCK
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March 30, 2021, 03:22:00 PM |
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Really don't know if this a good thing or not, last time it wasn't... It's not any real change IMHO. They just don't want the contracts to cost a quarter mill with no granularity. So it could increase their volume a little. I also have been at least somewhat dubious over the years that the CME futures tanked the BTC price in 2017... Maybe contributed? A catalyst?
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rdbase
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March 30, 2021, 03:29:44 PM |
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What? Nullius was born??
No he was manufactured in a lab from what have been going around. I was thinking more too the tone of that old 60's tv show The Million-dollar man. But that is meme worthy as ever since it is weird. Also in the news, this would probably be the reason why when you woke up this morning to see BTC price rise back up to levels nearing the ATH again. https://www.reuters.com/article/us-crypto-currency-paypal-exclusive-idUSKBN2BM10NWas going to post a thread but one was already created.. https://bitcointalk.org/index.php?topic=5327297.0Man, am I losing my touch. My information updates from sputnik not coming in on time. Just wanted to mention, I am glad to see that as we are rising towards the ATH we are also finally starting to see a t least a little volume rise as well... still not exactly a stampede, but headed in the right direction. Here is to both continuing!
Just 1/2 hour later after reuters breaks the news about paypal allowing cryptocurrency (yes, ltc too ) for payments to merchants, you see BTC back at $59k again. Closer to $60k is where we should be at. ShAzAm!
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nullius
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Blockstream Issues Security Token Tied to Bitcoin Hashrate, Payable in BTC https://www.coindesk.com/blockstream-security-token-bitcoin-hashrate-payable-bitcoinWhat do you think of these hashrate tokens? The first batch will be sold in minimum lots of ~275k$, so it's only for whales, but they will be traded OTC in 0.1x lots. What looks nice to clueless me is they sell at a discount to actual mining hardware. And, more importantly, the buyer is not subject to issues with delivery, operation, maintenance etc. of actual ASICs. Are they a thing? Can they become a thing in due time? I think that Jihan should go fork his mother. Anyway, he just shit a brick. For almost any operation at scale, there are large advantages to centralisation. That fact is uncomfortable to Bitcoiners, but it is a fact. Big operations are more efficient than small ones—not only bigger, but more efficient. Bitmain is a threat to Bitcoin, and they are still far too powerful. Methinks that they are about to get cut down to size. Blockstream has been running “enterprise colocated” mining for years. Their co-founder and CEO is the inventor of Hashcash, so I would wager that they have this mining thing pretty well figured out... For hardware, they are partnered with a Shenzhen-based company who is not Bitmain (I guess still a Chinese company because Americans destroyed their own industrial base decades ago; but Blockstream’s mining facilities are in the U.S. and Canada). They have been on a hardware buying spree, they say that they have over 300 megawatts of capacity to run all this hardware—and they say that they are just beginning to ramp it up. Blockstream Purchase $25M of Bitcoin Mining Hardware from MicroBT
January 27, 2021
[...]
We’re excited to continue our relationship with MicroBT and this latest batch will provide our hosting clients with an extremely reliable foundation to contribute to the security of the Bitcoin network. Part of the order should also go toward a new, top-secret mining service we’ll be launching soon.
...we’ll continue to grow our operations aggressively throughout the next year. “Aggressively”. I like it. What does this scale of operation need? Capital, but of course. The more capital that goes into this, the faster and harder they can fuck Jihan, fuck his mother, fuck Bitmain, and change the whole shape of the Bitcoin mining market. So—securitised hashrate, traded on Liquid. With investors getting thirsty for anything whatsoever Bitcoinish, this will bring an ocean of capital. Anyway, that is my analysis of this news. I have no particular expertise in the mining field, nor do I have any information except what is stated in these various news articles and blog posts.
I took the time to write this post in memory of 12 November 2017, when I was glued to the screen watching the tumult in /r/Bitcoin as the Bcashers collectively did their damn best to kill Bitcoin. IIRC, at some point, Slushpool alone was 70% of our remaining hashrate. The Bcashers had to give up because at some point, they needed to mine Bitcoin so that they could pay their electric bills. By the way, I want to say thank you to the Bitcoin miners who kept their ASICs grinding Bitcoin hashes when a large % of hashrate claimed that you were mining a dead chain. If you had believed them about “the flippening”, then it would have been a self-fulfilling prophecy. Big operations take time to build. It seems that Blockstream has been working on this for the past few years—and now, they will push the difficulty to the heavens with new hashrate funded by big-money investors... Oh, I sincerely hope that soon, Jihan’s mother will need to turn tricks for DOGE to feed her idiot bastard son!
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cAPSLOCK
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March 30, 2021, 04:55:37 PM |
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Anyone else think if Annonymint and JJG had a love child they named him "nullius"?
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xhomerx10
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March 30, 2021, 05:09:49 PM |
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Less than 1% to a € ATH. When Paypal will offer BTC purchases in the rest of the world? That will be big! Get your popcorn ready, people! The lift-off has just started. Next target 75K, 120K!!! There's enough corn there to choke a horse. Jealous! Moar corn please!!!
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bitebits
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shahzadafzal
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March 30, 2021, 05:34:21 PM |
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Tether has always been fully backed, and the assurance opinion we made available today confirms it once again.
Here is WSJ kinda defending so called Stablecoins https://youtu.be/GEvxWQmloLwI don’t understand why everyone speculating Bitcoin’s success with stablecoins? What is the definition of stability then? How they can keep the 1:1 parity in the first place? Wasn’t banks suppose to do the same and where are we now with it?
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NetTime
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March 30, 2021, 05:37:05 PM |
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Hueristic
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March 30, 2021, 05:44:10 PM |
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It's not any real change IMHO. They just don't want the contracts to cost a quarter mill with no granularity. So it could increase their volume a little.
I also have been at least somewhat dubious over the years that the CME futures tanked the BTC price in 2017... Maybe contributed? A catalyst?
Derivatives steal volume from the underlying asset class and therefore if nothing else they act as a cooling mechanism.
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