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Crypto currency endeavours

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odysseus2000
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Re: Crypto currency endeavours

#406660

Postby odysseus2000 » April 24th, 2021, 3:15 pm

Suadi's put complete ban on crypto currencies:

https://twitter.com/FirstSquawk/status/ ... 02755?s=20

The more this kind of stuff, the more I like Crypto!

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NotSure
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Re: Crypto currency endeavours

#406676

Postby NotSure » April 24th, 2021, 4:59 pm

odysseus2000 wrote:Suadi's put complete ban on crypto currencies:

https://twitter.com/FirstSquawk/status/ ... 02755?s=20

The more this kind of stuff, the more I like Crypto!

Regards,


Since SA banned Bitcoin about 3 years ago, I guess that retrospectively, you could argue it was bullish - BTC has gone up since then :?

https://www.express.co.uk/news/world/1002951/bitcoin-news-saudi-arabia-cryptocurrency-ban

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Re: Crypto currency endeavours

#445193

Postby odysseus2000 » September 25th, 2021, 9:15 am

China completely bans Crypto and gers aggressive in shutting down miners:

https://news.sky.com/story/china-announ ... s-12416476

Interesting. Assuming this all goes ahead then something like 1/2 of all mining will potentially stop, suggesting that bit coin transactions will be much delayed.

After the Saudi's banned crypto they rallied and now we have a big crypto mining communist country following suit. One of the arguments put forward is that crypto is using too much energy and this is hurting China's attempts to reduce Co2 emissions. Kind of think this will be short term negative for Crypto but longer term bullish as it illustrates how totalitarian states do not like the financial freedom that crypto bring.

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Re: Crypto currency endeavours

#445215

Postby JohnB » September 25th, 2021, 10:35 am

Whichever country the miners decamp to (Iceland?) that government will come under environmental pressure to ban them. Its obviously easier for China to do this with its Great Firewall, but it is likely to drive mining underground, like pot growing.

odysseus2000
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Re: Crypto currency endeavours

#445229

Postby odysseus2000 » September 25th, 2021, 11:33 am

JohnB wrote:Whichever country the miners decamp to (Iceland?) that government will come under environmental pressure to ban them. Its obviously easier for China to do this with its Great Firewall, but it is likely to drive mining underground, like pot growing.


If mining goes to Iceland, the CO2 argument goes away as Iceland has greatly abundant geothermal power that produces no extra CO2.

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Re: Crypto currency endeavours

#445231

Postby JohnB » September 25th, 2021, 11:37 am

Iceland's power is better used for running other webservices. Iceland already had a partial bitcoin ban in November 2020 https://www.bitcoinovo.com/2020/11/30/c ... n-iceland/

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Re: Crypto currency endeavours

#445254

Postby SteMiS » September 25th, 2021, 1:08 pm

odysseus2000 wrote:China completely bans Crypto and gers aggressive in shutting down miners:

https://news.sky.com/story/china-announ ... s-12416476

Interesting. Assuming this all goes ahead then something like 1/2 of all mining will potentially stop, suggesting that bit coin transactions will be much delayed.

I don't think that's true. If the hash rate falls then all that happens is that the puzzle becomes easier to maintain a 10 minute solution time for each block. What it should do however is increase the profitability of miners such as Argo Blockchain.

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Re: Crypto currency endeavours

#631746

Postby odysseus2000 » December 5th, 2023, 1:11 am

In the last 5 days Bitcoin has rocketed from less than 38,000 to 41,800 (as I type).

At the same time Microstrategy (MSTR) has jumped from 500 to 560. The executive chairman of MSTR is ultra bitcoin bull Michael Saylor.

As of now it looks like, but not certain, that US regulators will allow a bitcoin etf which should open up this crypto currency to a huge base of new investors.

After the ridiculous bad mouthing of Bitcoin on preposterous energy consumption claims took some wind out of the sails of this new currency, it has now again got its sail filled with a good following wind. Should the bitcoin etf be approved the potential large influx of new investors can substantially increase the price of bitcoin.

The decentralisation of money is potentially the greatest upgrading of personal wealth and freedom ever.

Saylor is also an evangelist of decentralised education.

HIs conversation with Lex Fridman is well worth listening to (3hrs 56 mins):

https://www.youtube.com/watch?v=mC43pZkpTec&t=10s

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Re: Crypto currency endeavours

#639703

Postby odysseus2000 » January 11th, 2024, 6:11 pm


odysseus2000
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Re: Crypto currency endeavours

#651238

Postby odysseus2000 » March 4th, 2024, 7:36 pm

So Bitcoin hits new highs as does the gold etf GLD.

Not surprisingly micro strategy (mstr) has nearly doubled in the last 6 trading days & Nvidia has nearly completed a measured move from 100 to 500 & now close to $800.

Meanwhile the 10 year hovers around 4.2%

The Nvidia move makes sense given the billions going into AI as does the mstr move, but why gold & bit coin now.

Are both signaling a flight to safety or the start of a huge bull run, moving before the Fed cuts rates, but if so the 10 year ought to have moved.

That leaves flight to safety before a major geopolitical event: US attack Iran, China goes for Taiwan, NATO gets involved in Ukraine or is ther some other explanation?

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Re: Crypto currency endeavours

#651245

Postby Urbandreamer » March 4th, 2024, 7:59 pm

odysseus2000 wrote:So Bitcoin hits new highs as does the gold etf GLD.

Not surprisingly micro strategy (mstr) has nearly doubled in the last 6 trading days & Nvidia has nearly completed a measured move from 100 to 500 & now close to $800.

Meanwhile the 10 year hovers around 4.2%

The Nvidia move makes sense given the billions going into AI as does the mstr move, but why gold & bit coin now.

Are both signaling a flight to safety or the start of a huge bull run, moving before the Fed cuts rates, but if so the 10 year ought to have moved.

That leaves flight to safety before a major geopolitical event: US attack Iran, China goes for Taiwan, NATO gets involved in Ukraine or is ther some other explanation?

Regards,


Well....
In order to trade most countries need an agreed medium of exchange. They also want reserves, again to facilitate trade.
For decades, reserves were US treasuries and the agreed medium of exchange was the US dollar.

Today? Well we have a number of countries under sanction. Attempts to prevent trade with them. Indeed individuals from those countries have had their wealth seized under the same pretext and there are repeated political arguments being made that the wealth should be used by the governments who seized the assets.

Just possibly a number of countries are thinking that they need alternatives to the US dollar.

Then we have actions such as the Canadian government freezing the bank accounts of those involved in protest. The bank accounts have been released and the banks have apologized. But it happened and the banks had no real choice in the matter. Would you feel comfortable did you live there? Might you not consider bitcoin?
https://www.youtube.com/watch?v=hDIPIYBFI5U

Caveat: I hold a gold etf and am slowly buying bitcoin.

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Re: Crypto currency endeavours

#651252

Postby odysseus2000 » March 4th, 2024, 8:15 pm

Urbandreamer wrote:
odysseus2000 wrote:So Bitcoin hits new highs as does the gold etf GLD.

Not surprisingly micro strategy (mstr) has nearly doubled in the last 6 trading days & Nvidia has nearly completed a measured move from 100 to 500 & now close to $800.

Meanwhile the 10 year hovers around 4.2%

The Nvidia move makes sense given the billions going into AI as does the mstr move, but why gold & bit coin now.

Are both signaling a flight to safety or the start of a huge bull run, moving before the Fed cuts rates, but if so the 10 year ought to have moved.

That leaves flight to safety before a major geopolitical event: US attack Iran, China goes for Taiwan, NATO gets involved in Ukraine or is ther some other explanation?

Regards,


Well....
In order to trade most countries need an agreed medium of exchange. They also want reserves, again to facilitate trade.
For decades, reserves were US treasuries and the agreed medium of exchange was the US dollar.

Today? Well we have a number of countries under sanction. Attempts to prevent trade with them. Indeed individuals from those countries have had their wealth seized under the same pretext and there are repeated political arguments being made that the wealth should be used by the governments who seized the assets.

Just possibly a number of countries are thinking that they need alternatives to the US dollar.

Then we have actions such as the Canadian government freezing the bank accounts of those involved in protest. The bank accounts have been released and the banks have apologized. But it happened and the banks had no real choice in the matter. Would you feel comfortable did you live there? Might you not consider bitcoin?
https://www.youtube.com/watch?v=hDIPIYBFI5U

Caveat: I hold a gold etf and am slowly buying bitcoin.


Great points! Thank you!

Interestingly in the Putin-Carlson interview Putin made a similar point about the hurt the US had brought upon its currency. There is no overall market panic & the vix continues its downward course, so your argument fits all the observables.

Regards,

scotview
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Re: Crypto currency endeavours

#651253

Postby scotview » March 4th, 2024, 8:20 pm

odysseus2000 wrote:Interestingly in the Putin-Carlson interview Putin made a similar point about the hurt the US had brought upon its currency. There is no overall market panic & the vix continues its downward course, so your argument fits all the observables.

Regards,


By the way, gold is up 4% on the week, so something is going on.

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Re: Crypto currency endeavours

#651585

Postby odysseus2000 » March 6th, 2024, 1:55 am

Grok & ChatGPT discuss if Bitcoin has reached a new all time high:

https://x.com/cb_doge/status/1765037261 ... DCpgdbFBxg

Regards,

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Re: Crypto currency endeavours

#652910

Postby odysseus2000 » March 11th, 2024, 2:37 pm

Interesting 7m interview of Michael Saylor of Micro Strategy’s who have recently borrowed $800 million to buy more bit coin. He argues that shares of mstr are a better buy than a bit coin etf due to their dividend helping to protect the down side:

https://youtu.be/PGTQIl7GtMA?si=HxZvaX60KhV4yQxS

The biggest risk I see with Bitcoin is that some future US President might try to ban it. Whether this could be done is unclear to me, but someone might try.

Regards,

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Re: Crypto currency endeavours

#652912

Postby odysseus2000 » March 11th, 2024, 2:48 pm

Short video, Trump says he wouldn’t like to take Bitcoin away at this point:

https://youtu.be/91W2qqk0HAg?si=TRyI1omX9RAZKzOm

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Re: Crypto currency endeavours

#652914

Postby Urbandreamer » March 11th, 2024, 2:55 pm

odysseus2000 wrote:The biggest risk I see with Bitcoin is that some future US President might try to ban it. Whether this could be done is unclear to me, but someone might try.

Regards,


I confess that I can't imagine that happening now that so much is invested in the likes of Blackrock's ETF.

FWIW, despite claims by bitcoin haters, the US government still holds some $8bill worth of bitcoin.
https://blockworks.co/news/us-governmen ... s-billions

They could either have sold it, or if they regard it as toxic as many of the other things that they seize, it's simple to burn/destroy using OP_RETURN.

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Re: Crypto currency endeavours

#653105

Postby GrahamPlatt » March 12th, 2024, 2:05 pm

https://www.bbc.co.uk/sounds/play/m001x ... =uk.co.bbc


R5 “Wake up to money”.
Good discussion of crypto, subsequent to the FCA saying that crypto funds can be traded by “professional investors” on the LSE.
Starts ~6’ 15”

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Re: Crypto currency endeavours

#653401

Postby odysseus2000 » March 14th, 2024, 2:05 am

GrahamPlatt wrote:https://www.bbc.co.uk/sounds/play/m001x4ps?partner=uk.co.bbc


R5 “Wake up to money”.
Good discussion of crypto, subsequent to the FCA saying that crypto funds can be traded by “professional investors” on the LSE.
Starts ~6’ 15”


It is interesting how official policy to bitcoin in changing.

Not so long ago the politicians were very dismissive of it, but since then the banks have been de-banking lots of folk, including politicians. Whether it is coincidence or not, but now there is more and more political acceptance of bitcoin.

If bitcoin is widely adopted it will not be a blessing for the traditional banking industry, nor for the $ status as the world currency, but nevertheless bitcoin is slowly becoming part of the financial world, bringing on many changes.

Regards,


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