Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 5742. (Read 26630405 times)

I wouldn't say its a scam, but just like not your keys, not your bitcoins, it's similar, if you don't have the hardware with you physically, it's ... tricky.

I joined a few a long time ago, and they turned out fine. Later on, I had the opportunity to buy miners, and send it to some warehouse located in northern Canada (somewhere cold) and some guy from this forum will take care of everything. I think he had a few hundred miner hardware and an actual warehouse. I don't know if he still operates the mining farm today (most likely, I can easily check) but if I had to buy any ASICs today, I would most likely send it over to him to take care of.

The mined coins go to your address, so you have to take a small portion of that and pay him his hosting fees, which include network and hydro (electricity) costs / expenses. He has the physical hardware anyways.

I think what Blockstream is doing and some other large mining farms, they are "professionalizing" and "institutionalizing" the mining now. Also it scales well since they operate everything, large warehouse, large location, cooling, maybe a mining pool, etc etc.

You could live in a small apartment and not worry about running miners at home even if you had the capital. Just let someone else do it.

I think the idea is closer to something like REITS or REIT ETFs.

Something like 70% of all debt in the world is in USD. There is high demand for USD because of this. When fewer people are working for USD and fewer people are spending USD, the only place people can get them is through the printing press.

The problem is going to be when people start earning again, spending again, and the velocity of money explodes. That's when the price of USD finally crashes.

ATH prices (13 March 2021):

EUR-ATH: 1 BTC = 50,744.00 € (Kraken)
USD-ATH: 1 BTC = $61,781.83 (Bitstamp) — Kraken's value was similar.

EUR/USD exchange rate: 1.218


Current prices (near-ATH, 30 March 2021)^*:

1 BTC = 50,272 € (Kraken)
1 BTC = $58,964 (Bitstamp) — Kraken's value is similar.

EUR/USD exchange rate: 1.173

* At the time of composing this post.


The above EUR/USD exchange rate difference (1.173 – 1.218 = –0.045) translates to a difference of around –$2,260 at current prices, and this explains why Bitcoin EUR-ATH will come much sooner than USD-ATH, unless the exchange rate changes again.

Edit: The above result also demonstrates the pointlessness of comparing Bitcoin with fiat currencies, and the importance of the equation 1 BTC = 1 BTC.

you probably meant ahead?

That said..US has quirks...right now, Texas , for example, opened up for anybody over 16....and there are NO slots available for taking, at least in Houston, seemingly.
What's the point? When they limited to over 65, then 50, there were always places where you could get it.
Now-zero. They should have continued the age-slicing, even going by 2 wk or so-50 to 40 to 30, then to over 16, then everybody.

Just wanted to mention, I am glad to see that as we are rising towards the ATH we are also finally starting to see a t least a little volume rise as well... still not exactly a stampede, but headed in the right direction. Here is to both continuing!

The UK is doing very well on vaccination, but poorly due to Brexit?

The functionality of the EU cannot be compared to what exists in the US, they are simply two different worlds, which can definitely be seen from this whole situation with vaccination. The EU has completely failed, or rather played out as a small child, while the US, UK and Israel, on the other hand, are far behind in terms of the number of vaccinated. A few days ago I read that the percentage of vaccinated in the EU is only 9%, while at the same time the UK has about 45%, Israel has already crossed 60%, while the US exceeds 28% just because Trump was unable to start the whole thing on time.

https://edition.cnn.com/interactive/2021/health/global-covid-vaccinations/

Your "penny wise, pound foolish" feeling is shared by a few informed people. I feel differently, and I think the issue wasn't how much the EU paid for vaccine, but the low negotiation skills shown basically by Ursula von der Leyen personally. She should have left that to some seasoned shark tamer, like Mario Draghi.

I do agree the net result is a mess for Europe. And the difference vaccination progress might well explain the present exchange rates - but then, why is UKP penalized too? UK is doing just fine with the vax.

Another good point from you though. Thanks.

But cloud mining was mostly a scam. I had a short flirt and barely managed to make a few sats before they changed the conditions. This feels different. Scamming 275k$ whales that can sue your ass looks like poor financial planning.

They used to be a thing, maybe similar to "cloud mining". Basically you provide the capital, they operate everything else on your behalf.

Sorry will read better next time.

That's puzzling to me too. Maybe because the US is doing much better then the EU in number of vaccinations per capita? I really hate the EU for being so penny wise pound foolish when buying the vaccines, yes they were very cheap compared to what the US paid, but of course now we are last in line (of the first world countries), costing muuuuch more in lost revenue.

I see your point (I think I merited one of your posts about that in the past), but now I was referring to the actual level of USD/EUR and USD/UKP - apart from btc exchange rate considerations.

Blockstream Issues Security Token Tied to Bitcoin Hashrate, Payable in BTC
https://www.coindesk.com/blockstream-security-token-bitcoin-hashrate-payable-bitcoin

What do you think of these hashrate tokens? The first batch will be sold in minimum lots of ~275k$, so it's only for whales, but they will be traded OTC in 0.1x lots. What looks nice to clueless me is they sell at a discount to actual mining hardware. And, more importantly, the buyer is not subject to issues with delivery, operation, maintenance etc. of actual ASICs.

Are they a thing? Can they become a thing in due time?

Europeans are just better in building walls, they are simply harder to take down and consequently last a lot longer.

http://roma.andreapollett.com/S4/walls.htm
https://www.bbc.com/news/world-us-canada-51307868

I guess EUR/USD price differences are too easy to arb for them to last long.

Rather, I don't understand the present high value of USD with respect to EUR and UKP. USA are well ahead of other nations in their brrrr work. It must be the market's bet on quicker recovery of the economy in the US than elsewhere.

60k incoming...

It's time for 60k WO!

Is the choppa engine on?

Quick comment:

In the first minute of the video: "...but there's also a tweet by Jeremy Kauffman, who runs LBRY."

That's what bothers me with these projects. They're structured like companies. CEOs, CFOs, CTOs, "The Team", etc. I'm very wary when I see a leader or leaders running crypto-related projects. I think part of Bitcoin's success is the fact that there isn't a specific person or team that runs it. Satoshi Nakamoto invented it, and there's a group of very talented developers that maintain and update the code, all under a consensus scheme. There is no central authority. When you add leadership and company-centric structure to the mix, I fear that things can get ugly.

Just my .02 BTC

Kudos on that post.  I intend to catch up Soon™.

Meanwhile...



Enjoy:

SEC and other government agency will always try to spread bad name to crypto.