Danishfurniturelover
the prettiest spice girl
Hell of a lot of the coins don't have anything behind them. But a few of them will work out.
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Cryptocurrency
- Thread starter Robbo
- Start date
Hell of a lot of the coins don't have anything behind them. But a few of them will work out.
Rorschach
Sonny Walters
The energy costs for bitcoin transactions are fudging ridiculous.
Only bitcoin and a few others have high energy costs, the rest use barely any energy to run. Bitcoin energy costs are just a convenient media narrative, a lot of the network is handled on renewable energy anyway. True some of that could be used elsewhere but a lot comes from surplus energy that would be wasted anyway.
Rorschach
Sonny Walters
As the new Minister for Energy and Renewables, I'd like to point out a few inconvenient facts. Bitcoin uses more energy to 'stay alive' than all of Norway uses, and for no purpose other than keeping the Ponzi scheme running. A single bitcoin transaction uses 50 days worth of the average household electricity and chucks out nearly a tonne of CO2 as well. It is a criminal waste of energy no matter where it comes from. There are coal power plants reopening for the sole purpose of powering mining farms. This is fudging nuts. Also, surplus power is not a thing really.
Hashegotthesackyet?
Alan Hutton
When the market eventually bottoms, Bitcoin will still be here.
ETH will be here too, but ETH/BTC value will likely get trashed.
99.9% of the rest will just disappear or drift lower down the ranking like all those that have before.
ETH will be here too, but ETH/BTC value will likely get trashed.
99.9% of the rest will just disappear or drift lower down the ranking like all those that have before.
Danishfurniturelover
the prettiest spice girl
Ethereum looking very positive.
The amount of big accounts buying it tells me that after the merger it will fly.
The amount of big accounts buying it tells me that after the merger it will fly.
Lemonade Money
Steffen Freund
Perfect night in.
Danishfurniturelover
the prettiest spice girl
It might well go down again as it seems to be tied to what the American stock market does.
But what I find interesting is the institutional investors backing it now.
Hashegotthesackyet?
Alan Hutton
every pump at the moment are bear market bounces, starting with the NASDAQ. Crypto is just a high Beta proxy for the trad markets, more now than ever.
Markets bpunced yesterday on a slightly lower CPI number versus the forecast. You only need to look at the Yield curves in the Bond market to see what a brick show will unfold. 10Y Yield - 2 Year Yield is as inverted now as it was in 2000 and subsequent dot com bubble. All the other leading economic indicators such as PMI and in particular new orders are signaling more pain down the road. Not to say there won;t be big bounces, there were 7 or so 20% bear market bounces after dot com crash before it bottomed. I'm happy to short every rip lol.
Markets bpunced yesterday on a slightly lower CPI number versus the forecast. You only need to look at the Yield curves in the Bond market to see what a brick show will unfold. 10Y Yield - 2 Year Yield is as inverted now as it was in 2000 and subsequent dot com bubble. All the other leading economic indicators such as PMI and in particular new orders are signaling more pain down the road. Not to say there won;t be big bounces, there were 7 or so 20% bear market bounces after dot com crash before it bottomed. I'm happy to short every rip lol.
metalgear
Nayim
Inverted yield curves... How reliable?
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ricky2tricky4city
Jack Jull
Have been a solid indicator of trouble round the corner.
But financial levers and jiggery pokery are way beyond the tools and rules during previous decades...so you never know.
Kandi1977
Terry Dyson
What surplus energy?? There isn't any surplus energy. Quite the opposite. Shut down bitcoin, and energy prices would more than half.
Danishfurniturelover
the prettiest spice girl
Haha
I don't think you are aware of what is causing energy prices.
A lack of foresight on governments around the world and a psycho in Russia.
Kandi1977
Terry Dyson
I'm more aware of it than you could imagine. It's Lack of availability, end of. What's caused it is irrelevant. There is a bitcoin mining company in my town with 10 employees, and it uses the same amount of power as the steel factory 500 meters away, that employ 1100 people. Let that sink in.
Grays_1890
Colin Calderwood
Exactly this, its disproportionate energy use that we could do without, regardless of politics and war.
That and its the biggest con going does not help
Hashegotthesackyet?
Alan Hutton
…very reliable and are still a massive leading indicator. 2Y prices in what they expect fed policy to do.
So much more QT to happen, more hikes as the CPI print showed today and consequently equities got clipped as did Crypto. Real pain hasn’t started yet imo.They’ll still be Bear market bounces with shorts getting covered but we’re in a bear market and there’s no fed pivot coming yet.
Hashegotthesackyet?
Alan Hutton
you’re right mate and they avoided a recession in 2019 by printing and giving out stimulus checks and same again with Covid crash in March/April 2020.Trouble is they didn’t start to curb inflation until way to late, so now Powell has stated he’s out to get inflation down so his levers are gone and QT already started along with the int rate hikes.
Danishfurniturelover
the prettiest spice girl
The steel company needs to modernise, sounds unproductive.