The Bitcoin is ‘as-good-as-gold’ myth is over

[BDTH]

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

[MonkeysUncle]

4 hours ago, AurumArgenti said:

Do you turn them rigs off at night in africa? 😉😄

We had rough costed a solar farm including big f%&@ off sized batteries to charge during t'day and power stuff at night. 

Lots of $$$. And knowing Africa some tribe of pikeys would rob the lot in a single night!

[MetalMandible]

20 hours ago, MonkeysUncle said:

We had rough costed a solar farm including big f%&@ off sized batteries to charge during t'day and power stuff at night. 

Lots of $$$. And knowing Africa some tribe of pikeys would rob the lot in a single night!

Careful friend, this sort of talk is sure to ruffle at least one snowflake's lil feathers around here...

[AurumArgenti]

Swift integrates crypto and not tulips again😤.😄

 

Edited November 23, 2022 by AurumArgenti

[AurumArgenti]

Bank of America wants to use XRP and ODL . They're already Ripple customers.

https://ripple.com/customers/

Sadly they don't want to use tulips.🤷‍♂️

https://www.google.com/amp/s/dailyhodl.com/2022/11/22/bank-of-america-to-partner-with-ripple-for-odl-services-after-xrp-lawsuit-finishes-report/amp/

 

Edited November 23, 2022 by AurumArgenti

[BDTH]

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

[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

 

 

 

Edited November 28, 2022 by BDTH

[Bigmarc]

On 18/11/2022 at 20:30, Bigmarc said:

Pointless selling it now, currently on hold for 24hrs trying to get it off an exchange.

Today I managed to withdraw from the exchange I was having trouble with. 9 days it had taken me. Was receiving verification text but kept saying it was the wrong number. Had to do all my kyc and security again. It was one big stressful ball ache and I plead anyone not to let things slide and keep on top of it. 

Gold and silver is so much more of an enjoyable experience and I do wonder in the early days of adoption if the had these types of issues. I did read the other day in the early days of the central banking system there were crooks, frauds a Charlottens running off with all the money. Some could argue that it's still happening today.

[BDTH]

[Stacktastic]

On 18/11/2022 at 22:06, BDTH said:

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

I have skim read all the posts and it seems that people are comparing Bitcoin with todays technology & culture. 
I think things are already changing and changing fast & the developments from the 50's to today will happen much faster!! 

its the end of a multi hundred year cycle & the multiverse & trans humanism is very probable.
the concept of currency & value items as well as status plays will become digital - basically ready player 1 film (to some extent). 
I have 'seen' it coming for a very long time and read all sorts of books. Future of Humanity (Michio Kaku) springs to mind.
There is a projected split in culture for people that want to disown it all and the opposite, but it wont be like luddites. 

(for example) if one person can get a physical drive in thier head that makes them 2x smarter, then the other will greatly fall behind. 
If that same person undergoes DNA editing to make them 2 x stronger & faster then the same will happen. 
Whether that could then potentially lead to the anti-transhuman being regarded as sub human and targeted is speculation. 
Judging by 2020 its very easy to do & IMO very probable depending on the society, its controls and values at the time. 
Personally I believe we are traveling from 3D to 5D and its a much nicer place - softer, kinder & not attached to power & greed. 
I have been there on and off, but struggle to see how it will occur in 'this' reality from my dimwit 3D mind, especially as time is not linear?  

I dont know but with regards to the charts I can see Bitcoin bottoming within the next 6-9 months with most alt coins going to zero. 
I have spent a long time watching it, but I want to see regulation - THEN the big money might enter, even retirement funds!! 
The regulation will make it dump, but it will recover fast - I wont bet my house on it & I will make damn sure im out if it rallys again! 
Bitcoin, Etherium, XRP & shares in coinbase. 

 

Edited December 2, 2022 by Stacktastic