Are we excited yet?

Scuid Mhór

seannash wrote: »

https://twitter.com/elonmusk/status/1392602041025843203?s=19

There's no way bitcoin's environmental impact is something he only learned about recently. Tesla's MO is environmental sustainability at the end of the day -- I would imagine this was a strategy to bring attention to the need for a better, more environmental cryptocurrency. The fact that Tesla profited from it is just a bonus I would imagine.

Jeff2

Buy time soon I guess.

Be up all night.

BrandonBay86

Just bought the dips dip. This is where we sort the men from the boys. And the coins from the sh1tcoins.

seannash

BrandonBay86 wrote: »

Just bought the dips dip. This is where we sort the men from the boys. And the coins from the sh1tcoins.

Or the people who have spare cash to buy versus those who dont 😊

sparkletooth

sparkletooth wrote: »

Sorry but VET is way overvalued. I don't know how it's so high in MC. Maybe they paid CZ for that high listing on CMC perhaps?

I do actually feel this myself, but so are many of the other coins which hit double digit highs several times per week on this bonkers alt run. It's more boring the shít out of me than anything else, I'm still in the green overall with it.

BrandonBay86

seannash wrote: »

Or the people who have spare cash to buy versus those who dont 😊

Straight onto the credit card

Jeff2

All good now.

How does this ethereum mining work? Like I'm earning $15 a day which a big jump from before. Am I still getting the same amount of ethereum based on my hash rate and it's just worth more? If it stays at this price, will this drop as more people mine it due to the price?

Irish_rat

BrandonBay86 wrote: »

Just bought the dips dip. This is where we sort the men from the boys. And the coins from the sh1tcoins.

Yes it will especially these POW sh%tcoins.

UsBus

Its beyond pathetic now with Musk. He's manipulating the price of everything he's involved with now. The SEC should be crawling all over him. Think i'd rather see Musk banned from Twitter than Trump at this stage.

listermint

UsBus wrote: »

Its beyond pathetic now with Musk. He's manipulating the price of everything he's involved with now. The SEC should be crawling all over him. Think i'd rather see Musk banned from Twitter than Trump at this stage.

It's gas to see him talked about favourably when he's bigging something up and then like this when he's not. The whole thing is a house of cards .

listermint

Scuid Mhór wrote: »

There's no way bitcoin's environmental impact is something he only learned about recently. Tesla's MO is environmental sustainability at the end of the day -- I would imagine this was a strategy to bring attention to the need for a better, more environmental cryptocurrency. The fact that Tesla profited from it is just a bonus I would imagine.

Or perhaps he has finally realised the chip shortage is touching is various businesses with no sign of slow down. Elon is smart be only ever does things that will ultimately benefit him.

NANO currently providing real world solutions to my VET boredom.

NANO pumped the very same about 2 weeks ago and then bled back down to the 6-7 range. I expect the same to happen here. When it pumps, it pumps hard.

Mellor

HGVRHKYY wrote: »

I can't see why you'd be liable for CGT if you simply use your crypto as collateral for a loan where you get your full crypto back after all repayments have been made

In that example they don’t get the crypto back.
They exchanged it for euro, that’s a disposal.

Isn't the point of decentralisation of currency to avoid any body or any person manipulating its value?

Musk has bitcoin and dogecoin in the palm of his hand and if it was regulated products he was manipulating in this manner he'd be in jail.

This is where all regulation comes from, it's reactive to prevent a reoccurrence of a scenario where customers suffered harm. Here we have millions of, let's be honest, young lads buying up bitcoin and dogecoin and it's making Musk and his mates quite rich at young lads expense.

The end result will be heavy regulation.

Musk is something else. Are we really supposed to think that he has only now realised that BTC has massive ESG issues, a few weeks after saying he will accept it? He is smarter than that, he is just messing and manipulating

banie01

I've been keeping an eye on the meme stocks, their DD's and in particular r/superstonk and their AMA's.
Granted there is a high degree of confirmation bias on display, but there are some interesting and compelling theories regarding the exposure that Hedge Funds have risked and the likely market fall out.

The crypto markets, the aftermarket drops in the market over the last week or so.
Possibly institutional profit taking to shore up cash balances ahead of this week's SEC stress tests?

The equity markets, have seen a lot of red over the last week.
Positions in profit being closed out and shares sold to build cash but, for what?

Then there is an interesting article in Italian that claims the Fed are extending 400billion in guarantee to the markets.
https://www.money.it/Fed-repo-miliardi-Wall-Street

After yesterday's 181 billion, today another 209 towards 39 requesting institutions. Is someone running into margin calls that risk turning the snowball into an avalanche? Two clues: The biggest contributor to the record leap in inflation came from used cars (consumer credit). While the largest corporate bond ETF has just seen short interest soar over 20%. A tip: fasten your seat belts

There seems to be a move towards cash and safety in the markets that may well be a knee jerk panic reaction.
I'd love to know what's driving it, it can't be solely Reddit/Citadel/Melvin/GME/AMC.

Tho that said, GameStop's Reddit make it seem like it is.
I made some nice gains overnight on the drop.
Had sold out over Monday and Tuesday and set quite ambitious limit buys on the off chance there was a flash crash.
Not expecting any to trigger but rather that I always do it when I move back to stablecoin as a hedge while I plan some actual buys.
BTC buy triggering at 46.6 was totally unexpected tbh.

There is far more going on in the markets at the moment and is there an equities correction or margin call coming that could affect all other markets?

Mellor

Deleted User wrote: »

Isn't the point of decentralisation of currency to avoid any body or any person manipulating its value?

Direct manipulation and indirect manipulation are very different.
Decentralisation stops the former, but not the latter.

Dutchy

When Michael Saylor buys the dip. I buy the dip. MicroStrategy just topped up their lot with another 271 bitcoins. Like for like, I'm buying 0.001.

By the way, if anyone wants to get the "Bitcoin is bad" ESG" line, this is a neat summary from an Investment Group which do not like crypto

ESG
Bitcoin is nothing short of an environmental disaster. At present it is
estimated to consume as much electricity as Chile and have a carbon
footprint equal to the entire population of New Zealand. The reason for
this is that the proof-of-work algorithm, which underpins validating
new transactions on the network, involves carrying out highly intensive
calculations. Bitcoin “miners” are in a race to complete the proof of work
against other miners. The winner of each race (which occurs every 10
minutes or so) is awarded new coins. As the value of Bitcoin has risen, so
the prize for “winning” increases and Bitcoin Miners are incentivized to
deploy ever greater resources in pursuit of victory. These resources take
the form of vast, air conditioned server farms. Turning to social issues,
the primary use case of Bitcoin outside of speculation, is for settling illegal transactions: drugs, money laundering, child pornography, terrorism, extortion and assassination.
Governance is also problematic, the decentralised nature of Bitcoin
has certain attractions, but equally that lack of accountability presents
problems especially when coupled with the risk of a malign actor taking
control of the network. It may be that there is sufficient vested interest
in Bitcoin’s continued success that these risks are modest, nevertheless
they are non-zero. Trading volumes of Bitcoin remain small relative to
its market cap and market makers are not yet subject to the same regulatory scrutiny as in traditional markets. The risks of market manipulation
are much greater. The lack of a board, central register and depositary
means investors have no recourse in the event of lost Bitcoin. Examples of this include the Swansea resident who threw away a hard drive
which holds the key to 7,500 Bitcoins worth around $275 m or the CTO
who has forgotten the password to his encrypted hard-drive and can no
longer access a similar number.
In summary, it is no exaggeration to say that investing in Bitcoin is completely antithetical to the principle of ESG investing and sufficient alone
to prevent us from buying it.

https://www.capitalgearingtrust.com/sites/cgt/files/literature/we-need-to-talk-about-bitcoin.pdf

While I personally am not too fussed about ESG concerns, it very much is a massive stumbling block for funds and institutions.

cnocbui

I have to laugh at Musk when it comes to CO2. In 2018 his Gulfstream G650ER 240,000 Km. In some cases his plane flew as little as 36 km, to get from one side of LA to the other. Never mind the CO2 if it beats the traffic.

Bob24

cnocbui wrote: »

I have to laugh at Musk when it comes to CO2. In 2018 his Gulfstream G650ER 240,000 Km. In some cases his plane flew as little as 36 km, to get from one side of LA to the other. Never mind the CO2 if it beats the traffic.

Yes and even from Tesla’s perspective the argument doesn’t make sense. If I am not mistaken their 2 largest markets are the US and China. Those countries don’t exactly have the cleanest electricity grids in the world and the cars they are selling there are largely running on electricity from coal, gas, and oil power stations.

If they are supposedly so concerned about the electricity mix of bitcoin miners relying too much on fossil fuels, why are they selling electric cars to drivers whose electricity mix will be similar or even worse in terms of carbon emissions? ;-)

Dades

I have never perceived Musk as an eco warrior, just a businessman who sells tons of expensive green products (amongst other non-green venture like space rockets).

It's definitely more his customers who claim to be green.

Bob24

Dades wrote: »

I have never perceived Musk as an eco warrior, just a businessman who sells tons of expensive green products (amongst other non-green venture like space rockets).

It's definitely more his customers who claim to be green.

Yeah I doubt he cares.
I think in this case he is carving to some lobbying groups and shareholders who want to ride the ESG wave (this is more virtue signalling than actual environmental protection, but I understand shareholders who don’t want to risk Tesla being removed from “green” funds just because of this).

Timmaay

Surely Elon is smart enough that he knew exactly about BTCs footprint when he was buying it back in Jan for Tesla. Planned FUD on BTC to aim to destabilise it as the top crypto? Tesla have already cashed in some of their BTC for a nice profit, it wouldn't surprise me if they have flogging even more of it again, that or they'll nextly roll out a special tesla btc mining solar roof/battery pack. I know by now that when Elon tweets something outlandish you should sit up and list ha, there is definitely something significant planned behind that.

OEP

Elon will be back pumping a "green" crypto soon enough. He'll of course have stocked up before the pump and will make as much money as he wants really. He is now able to make money at will in the crypto markets through his tweets, and knows it. A horrible individual really

The Oort Cloud

ADA Cardano doing well as it should. A nice stable coin of which is going to the Moon. I've got to say, it's doing amazing and this is only the start. Might have a realistic seven or eight dollar by the end of the year, it might even get to 9 dollar by next christmas :cool:

https://www.youtube.com/watch?v=3NjmGXuqCJo

yaknowski

Binance apparently coming under investigation by Justice Dept. & IRS in U.S.

sparkletooth

OEP wrote: »

Elon will be back pumping a "green" crypto soon enough. He'll of course have stocked up before the pump and will make as much money as he wants really. He is now able to make money at will in the crypto markets through his tweets, and knows it. A horrible individual really

He's an autist. He can't help it apparently and doesn't comprehend the impact of his words. He'll need a handler soon. No offense intended @ any autists reading this.

Anyway, Elon's tweets regarding Crypto will carry less and less weight as he's played all his cards. We'll always have dumb or uninformed people though. Not our problem. HODL = Profit

The Oort Cloud

The Oort Cloud wrote: »

ADA Cardano doing well as it should. A nice stable coin of which is going to the Moon. I've got to say, it's doing amazing and this is only the start. Might have a realistic seven or eight dollar by the end of the year, it might even get to 9 dollar by next christmas :cool:

https://www.youtube.com/watch?v=3NjmGXuqCJo

One of us is misunderstanding the term stable coin