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Thread: Bitcoin

  1. #6051
    Craftsman Loki's Avatar
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    Could of gone either way, unfortunately it’s taken a dip, great that the merge was a success, I’m wondering if mining has anything to do with it, hopefully will bounce back, HODL for me, just look at it that crypto is on sale.

  2. #6052
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    Probably nothing:

    SEC’s Gensler Signals Extra Scrutiny for Proof-of-Stake Cryptocurrencies: Report
    Speaking after the Merge (but not specifically about Ethereum), SEC Chair Gary Gensler said proof-of-stake cryptos could be investment contracts that subject them to securities regulations.

    https://www.coindesk.com/policy/2022...encies-report/
    Someone who lies about the little things will lie about the big things too.

  3. #6053
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    Two Addresses control 46% of ETH PoS.


  4. #6054
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    Don't think that is as bad as it first sounds, would assume these are two of the exchanges that are holding a lot of ETH for clients?
    Someone who lies about the little things will lie about the big things too.

  5. #6055
    Grand Master Raffe's Avatar
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    Ethereum down 15% since the successful merger.

    Just imagine what would have happened if the merger had failed!
    Someone who lies about the little things will lie about the big things too.

  6. #6056
    Master petethegeek's Avatar
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    Quote Originally Posted by Raffe View Post
    Ethereum down 15% since the successful merger.
    ...and slippening.

    Quote Originally Posted by Loki View Post
    ...great that the merge was a success...
    Quote Originally Posted by Raffe View Post
    Just imagine what would have happened if the merger had failed!
    I must confess to being far from clear in my own mind as to how 'success'/'failure' of the 'merge' is being defined and measured. (Or even if it really can be.)

  7. #6057
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    Quote Originally Posted by Raffe View Post
    Don't think that is as bad as it first sounds, would assume these are two of the exchanges that are holding a lot of ETH for clients?

    Yes, could easily be.

    Dug this out, no idea if it's current but just an example that we can find exchanges wallet addresses...
    https://gist.github.com/f13end/bf88a...f5e35f1fdb3c17

  8. #6058
    Grand Master Raffe's Avatar
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    Quote Originally Posted by mr noble View Post
    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.
    Quote Originally Posted by Raffe View Post
    If everybody is expecting this, the opposite is going to happen, you aware of that?
    ETH down 20% since the merger - and not showing any signs of bottoming yet.
    Someone who lies about the little things will lie about the big things too.

  9. #6059
    My Lamborghini fund has taken another hit lol
    It's just a matter of time...

  10. #6060
    Quote Originally Posted by Omegamanic View Post
    My Lamborghini fund has taken another hit lol
    You just have to adjust your expectations.


  11. #6061
    Master petethegeek's Avatar
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    ...or join the El Salvador police, perhaps.


  12. #6062
    Grand Master Raffe's Avatar
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    Quote Originally Posted by Sean89 View Post
    Pick your shitcoin very carefully. if it sounds like its terrible, its great!

    $pets i mentioned below. ATH today 25 mil mcap and still climbing

    i got in below 2million market cap.

    ps not financial advice. Im getting out of it soon

    $PETS price down more than 99% since this post, which was one week before its all-time high of $2.40 - it is trading at $0.016 now.

    https://coinmarketcap.com/currencies/polkapets/
    Someone who lies about the little things will lie about the big things too.

  13. #6063
    Grand Master ryanb741's Avatar
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    Anyone buy the dip dip dip dip?

  14. #6064
    World’s largest crypto exchange hacked with possible losses of $500m

    https://www.theguardian.com/technolo...ded-operations

    Doesn't the future of money have to look after your money?

  15. #6065
    Crypto security in the dark ages

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  16. #6066
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    what do they say if you dont own the keys you dont own your crypto?? something like that, dont leave it on the exchange store ior on your own device !!, i have so i know all my losses are safe LOL

  17. #6067
    Grand Master Raffe's Avatar
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    The rainbow chart has been updated:

    Someone who lies about the little things will lie about the big things too.

  18. #6068
    Pots of gold down there!

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  19. #6069
    Master petethegeek's Avatar
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    Quote Originally Posted by Raffe View Post
    The rainbow chart has been updated:
    Heresy. The original Bitcoin Rainbow Chart remains one of my all time favourite examples of data visualisation. It's right up there with Napoleon's March Map, the 1854 Broad Street Cholera Outbreak Map and the Causes of Mortality in the Crimean War.

  20. #6070
    Bitcoin is a stable coin !

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  21. #6071
    Grand Master Raffe's Avatar
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    Just been paying a visit to the proud chaps over at the Argo investor board. They are now convinced that some mystery investor will subscribe to a capital increase at a price roughly double the current share price and that a subsequent rally in BTC to $40k is needed to save the company from bankruptcy. Lot's of them seem to keep "averaging down", buying more shares to lower their average purchase price.

    It would be hilarious if we didn't know these are fathers gambling away their children's futures. Oh my, the lives that crypto ruined.
    Someone who lies about the little things will lie about the big things too.

  22. #6072
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    Quote Originally Posted by Raffe View Post
    Just been paying a visit to the proud chaps over at the Argo investor board. They are now convinced that some mystery investor will subscribe to a capital increase at a price roughly double the current share price and that a subsequent rally in BTC to $40k is needed to save the company from bankruptcy. Lot's of them seem to keep "averaging down", buying more shares to lower their average purchase price.

    It would be hilarious if we didn't know these are fathers gambling away their children's futures. Oh my, the lives that crypto ruined.
    Only read a couple of pages on there, wow they are some strong convictions there.


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  23. #6073
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    Quote Originally Posted by Mj2k View Post
    Only read a couple of pages on there, wow they are some strong convictions there.


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    It's a tragedy. That sh1thouse of a company could go only one way. It was from the beginning nothing but a vehicle to dump insider shares onto a bunch of crypto bois.

    Just look at the history of insider sales, all the board and management of that company ever did was selling every single one of their option grants as soon as they were free to do so.

    Unfortunately the FCA does not seem very interested when company management touts completely unrealistic forecasts for the future at the same time when they are dumping personal stock like there is no tomorrow.
    Someone who lies about the little things will lie about the big things too.

  24. #6074
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    Specific company officer's behaviour aside for one moment.* Most (all?) commercial bitcoin miners appear to be struggling in the current environment.

    Network hash rate climbing
    + Energy costs soaring
    + Debt burden climbing
    + Value of capital equipment (residuals) tumbling
    = Share price collapsing

    Has it now simply become a contest to be the last man still standing, with no feasible alternate options?

    *To be fair, that's quite a tome. (And will you just look at the price.) - https://www.tsoshop.co.uk/product/70...lete-inc-LD-PR

  25. #6075
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    I was an Eth miner, had quite a few rigs in the end as I was always adding to it over time. They are all powered off now as there are currently no profitable coins available to mine.

    I am involved in a few mining related communities and there has been a lot of discussion about this, as you can imagine. It obviously wasn't a surprise that it was coming. I think a lot of us thought the merge was going to be pushed back again, but credit to them for doing it so well.
    The problem is no new Eth being minted, like it was when it was being mined. Additionally, I do think miners created a small eco system of transactions. As a miner, you get Eth, you move it to your wallet / cash it in / trade it etc. That all went overnight.

  26. #6076
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    Quote Originally Posted by Raffe View Post
    It's a tragedy. That sh1thouse of a company could go only one way. It was from the beginning nothing but a vehicle to dump insider shares onto a bunch of crypto bois.

    Just look at the history of insider sales, all the board and management of that company ever did was selling every single one of their option grants as soon as they were free to do so.

    Unfortunately the FCA does not seem very interested when company management touts completely unrealistic forecasts for the future at the same time when they are dumping personal stock like there is no tomorrow.
    I’m not close enough to that world, but understand the basics enough to question how that is just allowed by the FCA. It is not exactly well hidden, or subtle behaviour.

    Scary what the ‘investors’ will lose chasing their greed / dream of the big payout.


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  27. #6077
    Grand Master Raffe's Avatar
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    Quote Originally Posted by Mj2k View Post
    I’m not close enough to that world, but understand the basics enough to question how that is just allowed by the FCA. It is not exactly well hidden, or subtle behaviour.

    Scary what the ‘investors’ will lose chasing their greed / dream of the big payout.


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    13p this morning. Buy the dip.
    Someone who lies about the little things will lie about the big things too.

  28. #6078
    Grand Master ryanb741's Avatar
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    Quote Originally Posted by Raffe View Post
    13p this morning. Buy the dip.
    Wrong.

    Buy the dip of the dip of the dip.

  29. #6079
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    Quote Originally Posted by Raffe View Post
    Just been paying a visit to the proud chaps over at the Argo investor board. They are now convinced that some mystery investor will subscribe to a capital increase at a price roughly double the current share price and that a subsequent rally in BTC to $40k is needed to save the company from bankruptcy. Lot's of them seem to keep "averaging down", buying more shares to lower their average purchase price.

    It would be hilarious if we didn't know these are fathers gambling away their children's futures. Oh my, the lives that crypto ruined.
    Those boards are absolute poison. I follow a few small diagnostics / healthcare companies on LSE and watching people get sucked in on the back of outright lies is tragic. If you attempt to comment with some actual facts you’re just furiously shouted down as a “deramper” who wants to pick up their shares on the cheap. If it wasn’t so desperate it would be funny.

    While it’s difficult to have much sympathy as we all have a choice you know that gullible folks are being fleeced. As I said, those boards are poison.

  30. #6080
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    Quote Originally Posted by Raffe View Post
    $PETS price down more than 99% since this post, which was one week before its all-time high of $2.40 - it is trading at $0.016 now.

    https://coinmarketcap.com/currencies/polkapets/
    Haven’t been on this thread in ages.

    I did say it was pure dog doo at the time. I was in it roughly 18 days last November.

    You don’t hold crap like that long.
    Saw the value rise from 2m market cap to 200mil and sold at the top.

    Hyper inflationary nft coin. What could have possibly gone wrong with it.


    With how the market is not many opportunities for obscene profit so I’m just hodl on my btc/eth and binance.

    Also it was this coin rather than the chart you posted. But your point stands, probably still down 99.9% https://coinmarketcap.com/currencies/micropets/
    Last edited by Sean89; 22nd October 2022 at 22:29.

  31. #6081
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    I struggle to understand why people buy a stock which is basically just a play on the price of the underlying commodity, i.e. bitcoin. Why not just buy bitcoin instead? It's a far more straightforward 'investment' decision than having to consider all the variables that could occur with a company.

  32. #6082
    It's the first time since 2015, and the second time in history, that a whole Businessweek edition contains a single article.

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  33. #6083
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    Quote Originally Posted by RoyalVilla View Post
    I'm also looking to learn more about NFTs and I bumped into a family member the other day who has started trading them. Will start looking into the Cardano ones I think as more affordable.

    Facebook has changed its name to Meta today so the future is clearly all about the metaverse! I read this earlier which I thought was an interesting piece about why NFTs are becoming popular

    https://cryptohayes.medium.com/rock-...o-a3641dfe132c
    The average NFT has fallen 99% since this, while Cardano is down only 79% and Facebook is down a mere 68%.

    So yes, the metaverse is clearly the future!
    Last edited by Raffe; 27th October 2022 at 11:38.
    Someone who lies about the little things will lie about the big things too.

  34. #6084
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    Quote Originally Posted by Raffe View Post
    The average NFT has fallen 99% since this, while Cardano is down only 79% and Facebook is down a mere 68%.

    So yes, the metaverse is clearly the future!
    The Meta sell off looks overdone ... if I was into a bit of short term stuff that looks an opportunity to me ...

  35. #6085
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    Quote Originally Posted by Montello View Post
    The Meta sell off looks overdone ... if I was into a bit of short term stuff that looks an opportunity to me ...
    Been looking at it this morning.... As long as Zucks seems inclined to burn all their cashflow on pointless meta stuff I think I stay put.

    Bought some SNAP after last week's selloff and that was a nice trade so far.
    Someone who lies about the little things will lie about the big things too.

  36. #6086
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    Quote Originally Posted by Raffe View Post
    As long as Zucks seems inclined to burn all their cashflow on pointless meta stuff I think I stay put.
    I think his days of innovation are past but they can use their might to acquire many start ups and some(one or two) will likely go main stream and be the next big ticket ... their data base must be worth their current market cap alone ...

  37. #6087
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    Quote Originally Posted by Montello View Post
    I think his days of innovation are past but they can use their might to acquire many start ups and some(one or two) will likely go main stream and be the next big ticket ... their data base must be worth their current market cap alone ...
    Well you go first.

    Maybe I am too greedy here, but want to see another drop before I buy.
    Someone who lies about the little things will lie about the big things too.

  38. #6088
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    Quote Originally Posted by Raffe View Post
    Well you go first.

    Maybe I am too greedy here, but want to see another drop before I buy.

    I'm an investor not a trader so I am already long Meta via funds ...

  39. #6089
    Grand Master Raffe's Avatar
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    Quote Originally Posted by Montello View Post
    I'm an investor not a trader so I am already long Meta via funds ...
    Just seeing how everybody is calling for much lower on META - think it may be an idea to take a punt. Just bought half a position at $99. Will add around $95-96.
    Someone who lies about the little things will lie about the big things too.

  40. #6090
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    Think I'd wait to see what side of 100 it wants to settle and position accordingly.

  41. #6091
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    The unbearable stability of bitcoin, a state of play summary from the FT.

    TL;DR - concluding paragraph.

    "Stability looks good, at least relative to what’s happening elsewhere. But thinning volumes in a market that has no utility beyond store of value, where the actions of its few active daily participants are being determined by technical resistance and support levels, is not a symptom of robust health. Though we’re far too jaded to say the best has passed for the mother of all cryptos, its flatlining after the plunge might signify nothing other than that it’s now an asset class on life support."

  42. #6092
    Master petethegeek's Avatar
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    Argo - Journey's end?

    "October update

    [...]

    As previously disclosed, the Company signed a non-binding LOI with a strategic investor to raise approximately £24 million ($27 million) via a subscription for ordinary shares. The Company no longer believes that this subscription will be consummated under the previously announced terms. Argo is continuing to explore other financing opportunities.


    The Company has also taken steps to further maximize liquidity and preserve cash. The Company sold 3,843 new-in-box Bitmain S19J Pro machines, representing ~384 PH/s of total hashrate capacity, for cash proceeds of ~£4.8 million ($5.6 million). These machines are the last batch of the original Bitmain order scheduled for installation in October 2022. As a result, the Company's total hashrate capacity remains at 2.5 EH/s.

    No Assurance of Definitive Agreements

    While Argo is exploring other financing opportunities, there can be no assurance that any definitive agreements will be signed or that any transactions will be consummated. Should Argo be unsuccessful in completing any further financing, Argo would become cash flow negative in the near term and would need to curtail or cease operations. The Company is endeavoring to complete such financing transactions to provide the Company with working capital sufficient for its present requirements, that is for at least the next twelve months from the date of this announcement."

    https://polaris.brighterir.com/publi.../story/xz084lr

  43. #6093
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    Quote Originally Posted by Raffe View Post
    Just been paying a visit to the proud chaps over at the Argo investor board. They are now convinced that some mystery investor will subscribe to a capital increase at a price roughly double the current share price and that a subsequent rally in BTC to $40k is needed to save the company from bankruptcy. Lot's of them seem to keep "averaging down", buying more shares to lower their average purchase price.

    It would be hilarious if we didn't know these are fathers gambling away their children's futures. Oh my, the lives that crypto ruined.
    So much for the mystery investor.

    Totally shocking and unexpected news, not.
    Someone who lies about the little things will lie about the big things too.

  44. #6094
    One of the biggest Bitcoin miners - Core Scientific - has filed for bankruptcy. Not just because of price/costs etc, but apparently they had a lot of coins stored at ... Celsius. So even today we still see serious fallout from that little joke. Not Your Keys, Not Your Coins has never been more true.

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  45. #6095
    Master petethegeek's Avatar
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    And whilst we are on the subject of commercial bitcoin mining, here's a short youtube clip which helps illustrate how preposterous the PoW approach can easily become in the eyes of some 'unbelievers'.



    PS Don't forget to clip your belts ready for the MicroStrategy financial results this afternoon.

  46. #6096
    Grand Master Raffe's Avatar
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    Here’s how much Elon Musk has pumped Dogecoin this year
    https://protos.com/heres-how-much-el...oge-this-year/
    Someone who lies about the little things will lie about the big things too.

  47. #6097
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    Tragic.

    From the Argo "investor" board:











    Someone who lies about the little things will lie about the big things too.

  48. #6098
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    Quote Originally Posted by Daveya. View Post
    One of the biggest Bitcoin miners - Core Scientific - has filed for bankruptcy. Not just because of price/costs etc, but apparently they had a lot of coins stored at ... Celsius. So even today we still see serious fallout from that little joke. Not Your Keys, Not Your Coins has never been more true.

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    Too much FUD news on the market :( no chance for even a short-term pump. Maybe this year we are going to see 14k or even lower.

  49. #6099
    That's a likely scenario yes

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  50. #6100
    Grand Master Raffe's Avatar
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    You know what my long term target price is. We are precisely on cue as far as I am concerned.
    Someone who lies about the little things will lie about the big things too.

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