Bitcoin

[petethegeek]

New Jersey-based Celsius received approval from U.S. Bankruptcy Judge Martin Glenn to spend $3.7 million in construction costs at a new bitcoin mining facility and $1.5 million on customs and duties on imported bitcoin mining rigs.

Patrick Nash, a lawyer for Celsius, told Glenn that bitcoin mining could provide a way for the company, which halted other business operations like its cryptocurrency lending, to repay customers, whose assets its froze in the weeks leading up to its bankruptcy filing.

"In a world where the crypto market rebounds, the mining business has the potential to be quite valuable," Nash said.

...

Celsius hopes the mining effort will help it repair its relationship with customers, some of whom sent threats and hate mail to some company employees in the weeks before the Chapter 11 filing.

But a group of equity investors previewed a possible fight for control over the bitcoin mining operations. Dennis Dunne, the investors' lawyer, said they may argue that the newly mined coins should be considered property of the UK subsidiary that raised the funds for the mining operation, rather than being distributed for the benefit of all Celsius creditors.

https://www.reuters.com/business/fin...ff-2022-07-18/

[Daveya.]

Not your key, ....


https://twitter.com/BitcoinMagazine/...50768188297216

Well, anyone handing over their crypto to a bunch of degenerates on a promise of wild yields kind of deserves a kick in the nads



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[Raffe]

https://www.reuters.com/business/fin...ff-2022-07-18/

Number go up solves this.

[Daveya.]

Huge news

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[Raffe]

[Estoril-5]

is this tweet in relation to Tesla off loading a large quant of BTC?

[redmonaco]

I'm wondering if the Tesla sell-off is designed to lower the price so that they can buy them back for less (and force a rebound???)??

[Raffe]

is this tweet in relation to Tesla off loading a large quant of BTC?

Absolutely, yes.

I'm wondering if the Tesla sell-off is designed to lower the price so that they can buy them back for less (and force a rebound???)??

Sure. They'll do that right after the market launch of their robo taxis, electrical heavy truck, Cybertruck and the humanoid robot.

[Daveya.]

Might be forcing them to source a new plastic supplier for their leatherette seats

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[Kitsan]

I'm wondering if the Tesla sell-off is designed to lower the price so that they can buy them back for less (and force a rebound???)??

It wouldn't surprise me if they re-buy and then start accepting bitcoin/Ethereum payments in coordination with Ethereums (much delayed) merge.

[ryanb741]

[Loki]

https://www.theguardian.com/technolo..._tab&fs=e&s=cl

[Raffe]

It wouldn't surprise me if they re-buy and then start accepting bitcoin/Ethereum payments in coordination with Ethereums (much delayed) merge.

Right after the Tesla Roadster will be delivered and when Giga Berlin will produce 600,000 cars per year.

[Raffe]

Coinbase: Looking for the last bagholders that we can dump some NFTs on.

[Daveya.]

Candles again

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[JasonM]

Candles again

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Is there a layman’s explanation fork handles?

[demonloop]

Very interesting, and good timing for Coinbase who needed a good news story

https://www.ft.com/content/57435d7a-...6-747b44363c5b

[Alansmithee]

From today's FT advice column - lulz:

I got divorced last year and as part of the financial agreement, my ex-wife and I agreed that I would keep my cryptocurrency assets while she got the lion’s share of my pension and other investments, and we split the family home. When we negotiated last autumn, the crypto market was riding high and I was convinced it would go higher still, but following the recent crash my digital assets have more than halved in value. I’m now considerably worse off than my ex and worried about my financial future. She says I only have myself to blame and won’t discuss the matter further. Can I go to court to renegotiate our financial order?

[redmonaco]

From today's FT advice column - lulz:

Wouldn't think so

I don't think they would have wanted to renegotiate if BT had sky rocketed!!

[noTAGlove]

Below $20k again.

[Daveya.]

Wouldn't be surprised to see 16k

[Kingstepper]

A pity, bitcoin miner might have kept house warm this winter.

[Owren]

Wouldn't be surprised to see 16k. When it happens I buy some Solana and stake it via P2P. That is my plan.

1 of twitter forecasters not long ago predicted even 14k till the end of this year.

[Kingstepper]

1 of twitter forecasters not long ago predicted even 14k till the end of this year.

Eh?

[Owren]

Eh?

I am talking about GCR who publicly shorted LUNA just before it scammed.

[Dsmith1974]

I put a couple of K and n about a year ago. Lost £500. I won’t be trying again. The ship has sailed. If you weren’t in early I think it’s too late now.


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[noTAGlove]

Can anyone explain why BTC is hovering around its 2022 lows, but ETH is 50% higher than its recent low?

Why the demand for ETH, but not BTC?

[mr noble]

Everyone is expecting ETH to pump when the merge finally happens in a few days/weeks.

https://ethereum.org/en/upgrades/merge/

At that point ETH will become deflationary and more scarce, which people are speculating will drive price up further.

[Raffe]

Everyone is expecting ETH to pump when the merge finally happens in a few days/weeks.

https://ethereum.org/en/upgrades/merge/

At that point ETH will become deflationary and more scarce, which people are speculating will drive price up further.

If everybody is expecting this, the opposite is going to happen, you aware of that?

[petethegeek]

Why the demand for ETH, but not BTC?

Pre merge surge and/or impending Mt Gox settlement? Both seem to be getting plenty of air time at the moment.

Other hypotheses are available. (As usual, aplenty.)

[demonloop]

If everybody is expecting this, the opposite is going to happen, you aware of that?

This

[Raffe]

Can anyone explain why BTC is hovering around its 2022 lows, but ETH is 50% higher than its recent low?

Why the demand for ETH, but not BTC?

Interestingly, the BTC/ETH market cap ratio had dropped below 2.0 again, spiked at 3.3 or so a few weeks ago.


Maybe I will really win all of my charity bets this time?

[mr noble]

If everybody is expecting this, the opposite is going to happen, you aware of that?

Absolutely, but the problem is that “everybody” is also expecting it to dump once the merge happens, so by the same method, the opposite should happen. Hence, impossible to guess which way it’ll go.

[redmonaco]

Absolutely, but the problem is that “everybody” is also expecting it to dump once the merge happens, so by the same method, the opposite should happen. Hence, impossible to guess which way it’ll go.

So, it's a gamble!...which it always was...

[Raffe]

Absolutely, but the problem is that “everybody” is also expecting it to dump once the merge happens, so by the same method, the opposite should happen. Hence, impossible to guess which way it’ll go.

Lolz

[petethegeek]

Michael "Call me Lightning" Saylor continues to redefine the core business - https://www.coindesk.com/business/20...g-saylor-says/

[Raffe]

Oops.

[Raffe]

When Bitcoin goes to $10k, I’m gonna invest everything I’ve got.

Have fun staying poor.

[MB2]

Michael "Call me Lightning" Saylor continues to redefine the core business - https://www.coindesk.com/business/20...g-saylor-says/

“The advantage of Lightning is not just that you could scale up bitcoin for billions of people, or drive the transaction cost to nearly nothing" still sounding awfully like the payments I already make every day in multiple currencies ?

[demonloop]

“The advantage of Lightning is not just that you could scale up bitcoin for billions of people, or drive the transaction cost to nearly nothing" still sounding awfully like the payments I already make every day in multiple currencies ?

People in less developed, less democratic countries are not so fortunate as you. Worth remembering.

[Raffe]

People in less developed, less democratic countries are not so fortunate as you. Worth remembering.

You think they have easier access to the lightning network than to any of the 1,000 available digital and free local payment options that already exist? Or Paypal F&F, which is free as well? Just the conversion in and out of bitcoin is >5% cost, even if the Lightning part is cheap (but never free).

Lightning is just as Bitcoin itself a solution in search of a non-existing problem.

[Raffe]

Oops.

Oops.

[petethegeek]

Dear Hodlers,

Have any other forum members noticed the remarkable similarity between the outgoing MicroStrategy CEO and the recently appointed Chelsea FC manager. Are they, by any chance, related?

Yours etc.



Michael



Graham


With due acknowledgements to Private Eye lookalikes

[Raffe]

Oops.

Oops.

Oops.

[Raffe]

Everyone is expecting ETH to pump when the merge finally happens in a few days/weeks.

https://ethereum.org/en/upgrades/merge/

At that point ETH will become deflationary and more scarce, which people are speculating will drive price up further.

One hour left until the pump.

Have you bought yours already?

[Boss13]

Oops.

Does this mean every time you say oops it is time to buy!?

[Raffe]

...or to sell or hodl. Yes.

[petethegeek]

No you can't have your money back. We will however continue to look after it on your behalf though. For a fee, natch.

https://www.nytimes.com/2022/09/13/t...rk-crypto.html

[Raffe]

One hour left until the pump.

Have you bought yours already?

Merged and dusted, just the mooning is postponed, it appears.

[Raffe]

How is it going with the driving up of the price of Ethereum?

Looks like the merger was a big success, currently down 10% on the day.