BDTH

On 22/11/2022 at 12:14, MonkeysUncle said:

I was a one third owner of a BTC and Ethereum mining business. We saw the headwinds, especially energy prices and sold our kit and shut up shop Easter time. Now that was the best financial decision all year. 

The value of the mining rigs we sold is now substantially below half what we sold for.

We might might look at BTC again but from a mining point of view you'd need to locate in USA for cost effective mains electric or head to say sunny Africa and build a solar farm to power it.

Just remembered I have a small (few £100) stake in https://thesunexchange.com/

You buy (or lease not 100% sure) solar panels in South Africa, get a cut of profit from electricity sold, and can take that profit in BTC

Not really worth it in my opinion, I don’t regret it, but DCA same amount over same period would have given much more BTC

at the moment you cannot sell the panels on, you just get a few £ worth of BTC/sats every month

had these for a few years

Its payday, smash bought bitcoin with some useless fiat. Next month? same again

1 hour ago, MonkeysUncle said:

I was a one third owner of a BTC and Ethereum mining business. We saw the headwinds, especially energy prices and sold our kit and shut up shop Easter time. Now that was the best financial decision all year. 

The value of the mining rigs we sold is now substantially below half what we sold for.

We might might look at BTC again but from a mining point of view you'd need to locate in USA for cost effective mains electric or head to say sunny Africa and build a solar farm to power it.

wow, great call to sell rigs!

https://podcasts.apple.com/gb/podcast/the-bitcoin-standard-podcast/id1403202032?i=1000586816843

discussed in latest Bitcoin Standard Podcast. Saifedean does some calcs on how cheap electricity needs to be to avoid getting rekt as a miner, concludes that mining bitcoin (or gold) is a terrible gamble compared to DCA/HODL with same $, unless you have nearly free energy

he may or may not be right but I found it very interesting. This much older one on economics of energy was also good from memory, might have to give it another listen…

https://podcasts.apple.com/gb/podcast/the-bitcoin-standard-podcast/id1403202032?i=1000533524065

Saifedean, and others have been discussing money as being interchangeable with energy for some time

Also interesting to me is fact that Elon Musk in recent townhall talked about adding peer-to-peer payments to twitter. He has previously described money as simply being information/data

8 hours ago, MonkeysUncle said:

Sod bitcoin, anyone for tulips?

yawn, as heard in 2012, 2013, 2014, 2018… ready to go back in the cupboard to be dusted off again in the next cycle

I remember not buying bitcoin at £50 because it was “too volatile”. fortunately I have learned a hell of a lot since then, I would’ve have almost certainly sold it for £100 and felt smug for a little while, or lost my private keys

I was lucky enough to know a guy who mined 3BTC on his laptop only to have them stolen as he didn’t secure his private keys, made me learn self-custody

another guy I know purchased 20BTC at a few £ each to pay for a dodgy film he and his wife watched, he is philosophical  about it

I am still learning a hell of a lot about bitcoin almost every day

stay humble, stack sats

A Bitcoin advert in The Wall Street Journal. I disagree with “So yes, you can trust bitcoin. But the truth is you shouldn’t have to”.

I don’t think anyone should trust bitcoin, or code, or anybody, in anything of any great importance, as a rule

It could be a scam, it could be fake, it might go to zero

The responsibility is on the individual to do their own due diligence, or not as they choose.

It is “not advisable” to go “all-in” on anything, but some do. Their choice, their responsibility, their risk, potentially their reward

My opinion: do not buy bitcoin because of what somebody else says

if you think bitcoin is a scam, a ponzi scheme, a psy-op, or whatever, because somebody said so, then you might be missing an opportunity

I think you really have to do your own homework if you want to make an informed decision one way or the other 

don’t trust, verify

5 hours ago, Bigmarc said:

Sorry mate. Just a bit frustrated that's all. No offence intended.

10 hours ago, Arganto said:

The fact that Bitcoin required the development of the lightning network so it could be used for micro-transactions is nuts. 

Personally I speculate that Bitcoin is another step in normalising digital transactions away from "hard" currency. It's anonymous creation screams spooksville. I think it started with debit and credit cards, progressed to currency exchanges like PayPal then moved on to "crypto". Digital creation, digital management, digital oppression. I'm not suggesting it's the exact same kabal behind each one but I do think it's a deliberate system of nudges. I am unsure if the current undoing of any existing public trust in crypto exchanges (thereby tarnishing the reputation of crypto for the normies in general) is a further nudge toward 'trustworthy' CBDC or something else entirely. Regardless it's never felt right for me, something smells bad.

I could be way off, but I've learned to act on instinct.

I respectfully disagree. The UK National Grid has some very useful sections operating at 400,000,000V. My iphone requires 5V to charge. yes it is an analogy and can be picked apart, but the fact that there are several layers, at various voltages, is to me a useful way to understand that a multi-layered payment network is not necessarily “nuts”

12 hours ago, Bigmarc said:

Etherium has a CEO but does not pass the howdy test. I mostly have etherium (if I can ever get it off the exchanges) I need ethrium so I can pay fees to buy my sh*t coins. A clown face emoji is probably appropriate for me in this case but only really belongs on twitter. Most people help eachother here rather than gloat in others miss-fortune. 

maybe re-read the section before the clown emoji before insinuating any gloating at others misfortune. As someone said recently “this is a teachable moment”. If people’s misfortune leads to a better understanding, maybe that's the silver lining in the completely avoidable FTX fiasco

99.99% of “crypto” coins are just “blockchain” fiat on steroids. Any “coin” with a CEO is an unregistered security, and the SEC might just start taking an interest after Scam Bankrupt Fraud’s FTX fiasco, that syphoned $100,000,000s to Democrats, who syphoned $Bs to Ukraine, who invested in FTX 🤡. If you are looking for the next pump and dump sh!tcoin to get rich quick, good luck! 

Ive been buying bitcoin since late 2017. Was told I’d missed the boat then. Don’t think so.

Still early doors. My Bitcoin holdings are in single figures but increasing weekly. Might change that to daily.

Genuinely hope price crashes hard in next few weeks as I am lining up 4 figures of useless fiat for a smash buy

each to their own!

If anyone has any bitcoins please sell them at any price. dump, dump, dump. Sell, sell, sell

I will continue to buy bitcoin at any price, high or low. But I really like low, so sell, sell, sell if you no-coiners have any (I doubt it lol) 🤡

On 31/07/2022 at 20:58, Mightymogs said:

This may have been discussed before, but the lull and subsequent annoyingly predictive daily up and down of Bitcoin has left me less than Impressed. Question is, do I just cut the albeit small losses and just buy PM with it all or leave it alone? 

Totally up to you of course, however nobody has lost on bitcoin who has held for at least 5 years. I started buying in 2017 at my time horizon for bitcoin is at least 10 years +

At one point I had several hundred oz of physical silver, which I never intended to take delivery of (had a vague plan to hold in vault and sell back to dealer at a later date), however dealer told me I had to take delivery at short notice, and I did find it a pain to liquidate, although I did ok out of it

Bitcoin has many advantages over precious metal, but I can only suggest you do your own homework and make your own mind up

My advice is, don't take my advice, or anyone else's 🤪

I would!

I may have sold off my silver stack, but I just stumbled upon a reference to this Roman beauty:

Mildenhall Platter

A large concave silver platter with beaded rim (135 beads in total) on a circular vertical foot-ring positioned exactly one-third in from the rim. The entire upper surface is decorated in raised relief executed by chasing with details added with the use of fine incised lines. This is divided into 3 decorative zones in a circular arrangement, alluding to the worship and mythology of Bacchus on land and in the sea. In the central medallion is a facing head of Oceanus, with dolphins in his hair and a beard formed of seaweed fronds, enclosed in a border of 91 circular pellets. The inner frieze, bordered by scallop shells, consists of four scenes of naked nereids riding mythical marine creatures, a triton, a half-stag/half-sea creature, a ketos in association with a triton and a hippocamp. The wide outer frieze features 6 different scenes with the central figures being Bacchus, holding a bunch of grapes and a thyrsus and resting a foot on his panther. The god presides over a celebration of music, dancing and drinking in his honour. The participants include the hero Hercules, overcome by the consumption of wine and having to be supported by two satyrs, the goat-legged god Pan, and various satyrs and maenads dancing or playing musical instruments. In the field there are a variety of objects associated with the thiasos, including a krater, pedum, skin with grapes, drums or tambourines and a mask of Silenus on a pedestal.

Sorry all my tubes of brits are gone...