Revolution in Kazakhstan caused BTC price & hashrate drop?

Tash

sr. member

Activity: 1190

Merit: 305

Pro financial, medical liberty

Quote from: imjeybi1208 on January 09, 2022, 01:09:51 AM

..........
The Kremlin must be worried and sleeping poorly these days.

It's claimed that in Moscow, it is just about 24/7 news.. Almost a full quarter of the population of Kazakhstan is ethnic Russian.
Russia and Kazakhstan have the longest uninterrupted land border on the planet and a full-blown refugee crises is not what Russia wants.
Russia doing its Anti-Ballistic Missile testing at the Sary-Shagan test site within Kazakhstan.
Uranium mining in the country is backed by Russia.
The Baikonur Cosmodrome in Kazakhstan was the main site for the space program and is still in used as the new Vostochny Cosmodrome in Russia's east is still not finished.
Nepotism was root cause of most conflicts in the dark ages.

Govenment fleeing the country, doctors and vaccine staff arrested
https://twitter.com/i/status/1479799181443100672

imjeybi1208

newbie

Activity: 22

Merit: 3

Yes, Kazakhs are protesting corruption and nepotism in their country.

But there's one more thing to consider in this revolution. The Russian-led security alliance dispatched an army to Kazakhstan to assist the dictator in crushing the protests. It is a reenactment of the Warsaw Pact uprisings, which were crushed by the Soviet army (Prague Spring, Romania, and Hungarian uprisings) It is a sign that the authoritarian system, which is based on corruption and oligarchy, is standing on shaky ground and could collapse at any time.

The Kremlin must be worried and sleeping poorly these days.

franky1

legendary

Activity: 4424

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Quote from: cmg777 on January 08, 2022, 09:18:22 AM

Quote from: franky1 on January 07, 2022, 10:24:35 PM

meanwhile in america. they say citizens have a right to have a gun.. but US government also have a law that allows police to shoot a person if they see a person holding a gun due to "fear of life"

if a citizen kills a cop or a domestic defence/army/military personnel on duty, its not self defence
if a domestic defence/army/military personnel on duty, kills a armed citizen, it is self defence

so.. americans.. kazakhs. heres a brilliant idea.. dont carry a gun.

Ok so what you're saying here is that the Kazakh's don't have a right to protest? That they should just let the Kremlin despot raise the price on fuel and they just take it become homeless and starve? If there was a mass of people in this strait then they have nothing to lose which is why they protest and unfortunately resorted to violence in some cases (only hurts their cause) unless the president resorted to said violence first that is.

protest all they like. but without a gun..
protests are not destruction of property. protests are not about shooting

with a gun, someone is more then likely to get shot.. thats not protesting. thats violence and terrorism

violence doesnt just hurt their cause. it also can hurt their body, someone elses body. and their familes

Gyfts

legendary

Activity: 2856

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Quote from: franky1 on January 07, 2022, 10:24:35 PM

meanwhile in america. they say citizens have a right to have a gun.. but US government also have a law that allows police to shoot a person if they see a person holding a gun due to "fear of life"

if a citizen kills a cop or a domestic defence/army/military personnel on duty, its not self defence
if a domestic defence/army/military personnel on duty, kills a armed citizen, it is self defence

so.. americans.. kazakhs. heres a brilliant idea.. dont carry a gun.

You can carry a gun so you're hard to kill, but being hard to kill doesn't make you immune from repercussion. Self defense goes both ways, for police and the citizens. Except for Kazakhstan, even some of the military have joined in on the protests. So the entire government system is falling apart, and without a government to prosecute crimes. I guess it's free self defense for everyone. One of the unfortunate unintended consequences when the legal system falls collapses.

Newlifebtc

member

Activity: 686

Merit: 21

Quote from: Tipstar on January 05, 2022, 07:15:20 PM

They protest is due to removal of subsidies on fuel. Fuel is electricity and electricity is needed for mining.

we know that with out electricity mining company will not exist and i understand that they can not remove the fuel subsidies because of no constants power, fuel prices is another issues that will hider quick mining because the plants use consume enough petroleum

Tash

sr. member

Activity: 1190

Merit: 305

Pro financial, medical liberty

The whole trouble seems an internal power struggle. Claims are that the former head of Kazakhstan’s national security committee, ex-intelligence, anti-terror chief two times prime minister Karim Masimov has been detained, charged with high treason.
https://eurasianet.org/kazakhstan-masimovs-downfall-from-the-corridors-of-power-to-a-jail-cell

cmg777

member

Activity: 478

Merit: 66

Quote from: franky1 on January 07, 2022, 10:24:35 PM

meanwhile in america. they say citizens have a right to have a gun.. but US government also have a law that allows police to shoot a person if they see a person holding a gun due to "fear of life"

if a citizen kills a cop or a domestic defence/army/military personnel on duty, its not self defence
if a domestic defence/army/military personnel on duty, kills a armed citizen, it is self defence

so.. americans.. kazakhs. heres a brilliant idea.. dont carry a gun.

Ok so what you're saying here is that the Kazakh's don't have a right to protest? That they should just let the Kremlin despot raise the price on fuel and they just take it become homeless and starve? If there was a mass of people in this strait then they have nothing to lose which is why they protest and unfortunately resorted to violence in some cases (only hurts their cause) unless the president resorted to said violence first that is.

franky1

legendary

Activity: 4424

Merit: 4794

meanwhile in america. they say citizens have a right to have a gun.. but US government also have a law that allows police to shoot a person if they see a person holding a gun due to "fear of life"

if a citizen kills a cop or a domestic defence/army/military personnel on duty, its not self defence
if a domestic defence/army/military personnel on duty, kills a armed citizen, it is self defence

so.. americans.. kazakhs. heres a brilliant idea.. dont carry a gun.

cmg777

member

Activity: 478

Merit: 66

Kazakh President Issues "Shoot To Kill Without Warning" Order As Armed Insurgent Groups Form

https://www.zerohedge.com/geopolitical/kazakh-president-issues-shoot-kill-without-warning-order-armed-insurgent-groups

Tash

sr. member

Activity: 1190

Merit: 305

Pro financial, medical liberty

Quote from: kickback on January 07, 2022, 06:21:23 AM

....................
This explains it well. I only was looking at the overall price of gas in comparison to other more expensive countries but looking at this makes it understandable why they are rioting.

Fuel price is certainly not the issue for the troubles at hand. Relative to other countries price went down. Two, three years ago the country was the 15th cheapest in the world on the 3rd of Jan 2022 it was the 9th cheapest.
The good thing the country got rid of covid.

Meanwhile the dictator gives order to shoot anything and anyone.
https://twitter.com/AlexeiArora/status/1479448479869153283

Because some military and police support the people the country is now invaded by Russia, Belarus and Armenia
https://youtu.be/b1Qa3yQqSOI

kickback

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Quote from: franky1 on January 06, 2022, 01:19:12 PM

the fuel price ranks of the world are based on a dollar valuation.. not based on each's nations % of average income(domestic value)

kazahk's seen their prices DOUBLE from 60tenge (local currency) to 120tenge (local currency)

what you have to realise is that
60tenge is 14cents

what you also have to realise is that kazahk minimum wage is
22,859tenge which is $68 a month
american minimum wage is $1160 a month
us car fuel prices are $0.98 a litre

which is if we used say 1000 litres = $980 = 84% of income for 1000litres (0.084% of minimum income per litre)

now lets take this same 1000 litres = 60,000tenge = 262% of income for 1000litres (0.262% of minimum income per litre)

then this week that 0.262% of income per litre became 0.524% of income per litre
meaning a kazahk if spending all his income on fuel can only drive for 190litres worth of distance a month
meaning a kazahk working 5 days a week 4 weeks a month. to work and home. if they use just 4.7 litres per journey.
then they are spending their whole monthly income just getting to work
no food, no bills, nothing else can be bought

0.524% is bad economy compared to americas 0.084% economy
yes kazahk are based on income value. paying 6x more then america are. based on 'value'

This explains it well. I only was looking at the overall price of gas in comparison to other more expensive countries but looking at this makes it understandable why they are rioting.

PrimeNumber7

copper member

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Amazon Prime Member #7

Quote from: Gyfts on January 05, 2022, 05:58:41 PM

According to this source, sharp increase in liquefied petroleum gas, resulting in days of protest. All the financial markets have dipped recently, not just crypto, so it isn't clear on how large of an effect this has.

The situation may or may not be affecting the price of bitcoin. However, it is very likely to be affecting the hashrate. The internet was cut off in Kazakhstan in response to the violence in the streets.

After China banned bitcoin mining in its country, many miners who were previously mining in China, moved their equipment to Kazakhstan, and without internet access, the miners have no way to broadcast their found blocks. So the internet blackout has rendered their mining equipment useless, at least for the time being.

Tash

sr. member

Activity: 1190

Merit: 305

Pro financial, medical liberty

The People l of Kazakhstan just want to be free and not live under oppression. Same issues as everywhere rampant corruption, inflation and politician think they are some kind of demon, (and or are demonic).
https://youtu.be/te3vLN_0V90
It must be some kind of bad joke sending soldier from Armenia and Belarus as "peace" keepers. Armania just had a war last year and Belarus has a known dictator in charge, someone imposing fear and terror calling protesters terrorist.

At least some, Military is also standing up
https://youtu.be/b1Qa3yQqSOI

_oh_no_stop_this_

full member

Activity: 188

Merit: 150

Quote from: franky1 on January 06, 2022, 01:19:12 PM

the fuel price ranks of the world are based on a dollar valuation.. not based on each's nations % of average income(domestic value)

kazahk's seen their prices DOUBLE from 60tenge (local currency) to 120tenge (local currency)

what you have to realise is that
60tenge is 14cents

what you also have to realise is that kazahk minimum wage is
22,859tenge which is $68 a month
american minimum wage is $1160 a month
us car fuel prices are $0.98 a litre

which is if we used say 1000 litres = $980 = 84% of income for 1000litres (0.084% of minimum income per litre)

now lets take this same 1000 litres = 60,000tenge = 262% of income for 1000litres (0.262% of minimum income per litre)

then this week that 0.262% of income per litre became 0.524%

0.524% is bad economy compared to americas 0.084% economy
yes kazahk are based on income value. paying 6x more then america are. based on 'value'

THAT IS SOME GOOD CALCULATIONS!!! Thank you!

franky1

legendary

Activity: 4424

Merit: 4794

the fuel price ranks of the world are based on a dollar valuation.. not based on each's nations % of average income(domestic value)

kazahk's seen their prices DOUBLE from 60tenge (local currency) to 120tenge (local currency)

what you have to realise is that
60tenge is 14cents

what you also have to realise is that kazahk minimum wage is
22,859tenge which is $68 a month
american minimum wage is $1160 a month
us car fuel prices are $0.98 a litre

which is if we used say 1000 litres = $980 = 84% of income for 1000litres (0.084% of minimum income per litre)

now lets take this same 1000 litres = 60,000tenge = 262% of income for 1000litres (0.262% of minimum income per litre)

then this week that 0.262% of income per litre became 0.524% of income per litre
meaning a kazahk if spending all his income on fuel can only drive for 190litres worth of distance a month
meaning a kazahk working 5 days a week 4 weeks a month. to work and home. if they use just 4.7 litres per journey.
then they are spending their whole monthly income just getting to work
no food, no bills, nothing else can be bought

0.524% is bad economy compared to americas 0.084% economy
yes kazahk are based on income value. paying 6x more then america are. based on 'value'

Tash

sr. member

Activity: 1190

Merit: 305

Pro financial, medical liberty

Quote from: Gyfts on January 05, 2022, 05:58:41 PM

So a lot of turmoil in Kazakhstan. The President is forced to resign because of protests regarding the energy prices, and apparently there's been multiple deaths related to the protests both on the side of protestors and law enforcement/security.

https://www.rferl.org/a/kazakhstan-enrgy-price-protests-zhanaozen/31637647.html

According to this source, sharp increase in liquefied petroleum gas, resulting in days of protest. All the financial markets have dipped recently, not just crypto, so it isn't clear on how large of an effect this has.

Fuel price to be the reason is just another big fat media lie. Fake news
The country went form 10th cheapest to 9th cheapest fuel price in the world.
On 14-Aug-2017 it was the 15th cheapest in the world.
Norway is one of the worlds lagers oil producers and has astronomical fuel price.
https://www.globalpetrolprices.com/gasoline_prices/

Most likely the people are sick of the nation's autocratic rule, freeing itself form overpaid underpeforming corrupt bureaucrats is the peoples decision, it seems. Can also be the case that the protests are artificial, who knows....

https://twitter.com/i/status/1478817811648716804
A full police brigade in the city of #Atyrau has sided with the protestors!
https://twitter.com/i/status/1478721255247384583

External Russian and Belarusian regimes enter Kazakhstan for its internal troubles, is this not a invasion? 1968 Prague or1956 Budapest?
https://knews.kg/2020/12/22/roskoshnye-doma-nazarbaevyh-zheneva-kanny-nyu-jork-i-ne-tolko/

Demands of the Protesters in Kazakhstan
1. Immediate release of all political prisoners
2. Full resignation of president and government
3. Political reforms:
Creation of a Provisional Government of reputable and public citizens. Withdrawal from all alliances with Russia

noorman0

hero member

Activity: 1778

Merit: 709

[Nope]No hype delivers more than hope

It seemed like all the residents had become enemies to their own government, the country was basically collapsing. Don't understand how the civilians and police there kill each other. Were there any intruders among them? If the policy of increasing fuel prices has been announced as of January 1, it is sufficient time for those "concerned" to make plans for this rebellion.

By the way, the lowest point of the global hashrate since the announcement of the new decision occurred 2 days ago and is currently recovering upwards. I don't think this news caused the bitcoin price to fall this time.

Tipstar

sr. member

Activity: 1932

Merit: 300

They protest is due to removal of subsidies on fuel. Fuel is electricity and electricity is needed for mining.

cmg777

member

Activity: 478

Merit: 66

Bitcoin price drops to $43.7K after Fed minutes re-confirm plans to hike rates

https://cointelegraph.com/news/bitcoin-price-drops-to-43-7k-after-fed-minutes-re-confirm-plans-to-hike-rates

The FED hiking rates also caused the dip.

_oh_no_stop_this_

full member

Activity: 188

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Quote from: Gyfts on January 05, 2022, 05:58:41 PM

So a lot of turmoil in Kazakhstan. The President is forced to resign because of protests regarding the energy prices, and apparently there's been multiple deaths related to the protests both on the side of protestors and law enforcement/security.

https://www.rferl.org/a/kazakhstan-enrgy-price-protests-zhanaozen/31637647.html

According to this source, sharp increase in liquefied petroleum gas, resulting in days of protest. All the financial markets have dipped recently, not just crypto, so it isn't clear on how large of an effect this has.

If situation is not going to stabilize soon I guess we can buy a lot of miners from there below market price. Transportation is the issue....

UPDATE: Uranium prices are going up (mined in Kazakhstan).

Topic: Revolution in Kazakhstan caused BTC price & hashrate drop? (Read 252 times)