Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 5751. (Read 26652410 times)

Anyone else think if Annonymint and JJG had a love child they named him "nullius"?

I think that Jihan should go fork his mother.  Anyway, he just shit a brick.

For almost any operation at scale, there are large advantages to centralisation.  That fact is uncomfortable to Bitcoiners, but it is a fact.  Big operations are more efficient than small ones—not only bigger, but more efficient.

Bitmain is a threat to Bitcoin, and they are still far too powerful.  Methinks that they are about to get cut down to size.

Blockstream has been running “enterprise colocated” mining for years.  Their co-founder and CEO is the inventor of Hashcash, so I would wager that they have this mining thing pretty well figured out...  For hardware, they are partnered with a Shenzhen-based company who is not Bitmain (I guess still a Chinese company because Americans destroyed their own industrial base decades ago; but Blockstream’s mining facilities are in the U.S. and Canada).  They have been on a hardware buying spree, they say that they have over 300 megawatts of capacity to run all this hardware—and they say that they are just beginning to ramp it up.

I was thinking more too the tone of that old 60's tv show The Million-dollar man.
But that is meme worthy as ever since it is weird.

Also in the news, this would probably be the reason why when you woke up this morning to see BTC price rise back up to levels nearing the ATH again.
https://www.reuters.com/article/us-crypto-currency-paypal-exclusive-idUSKBN2BM10N
Was going to post a thread but one was already created..
https://bitcointalksearch.org/topic/paypal-created-crypto-checkout-service-5327297
Man, am I losing my touch. My information updates from sputnik not coming in on time.

Just 1/2 hour later after reuters breaks the news about paypal allowing cryptocurrency (yes, ltc too ) for payments to merchants, you see BTC back at $59k again.
Closer to $60k is where we should be at.

ShAzAm!

It's not any real change IMHO.  They just don't want the contracts to cost a quarter mill with no granularity.  So it could increase their volume a little.

I also have been at least somewhat dubious over the years that the CME futures tanked the BTC price in 2017...  Maybe contributed?  A catalyst? 

It's because we can now run our own affairs that the vax programme is going so well. Just look at Europe trying to ban exports to the rest of the world and arguing amongst themselves . Disgraceful

Really don't know if this a good thing or not, last time it wasn't...

Of course, my mistake.

I know, it's not very smart to say US globally when it's known that every state can have different rules, but I didn't go so deep as to find such statistics. However, if the figure of 28% is correct (a total of 1 and 2 doses vaccinated), that is a very good result - because that percentage was below 5% at the end of the last president's term.

However, the fact is that those who produce vaccines have priority for their own residents, which is quite normal - and the EU has nothing but one AstraZeneca factory in Belgium, which until recently exported the vaccine outside the EU, while the same company violates all signed agreements on delivery of the same vaccines to the EU.

Yet given the number of deaths associated with this vaccine (AstraZeneca), for some the incompetence of EU bureaucrats may have saved their lives. From cases I could study in more detail in my country, people would simply collapse within 5-15 minutes after vaccination and die without having had any serious health problems before.

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?