Bitcoin price suddenly surges to 3-year high

[64K]

If you take this tweet literally it makes absolutely no sense. They're going to hold them until bitcoin... "transitions to more sustainable energy"? How's bitcoin going to do that when most of it is "made" in China, which is still gangbusters on coal?

I think they will get rid of it. They're under no obligation to tell people when. It will be interesting to see how this looks on their balance sheet in another quarter.

I think it's a lot more likely they'll go to something like the Chinese yuan crypto, China would love that as it would legitimize their "crypto". Crypto is a buzzword now, but most people have no idea why it was favored in the darker reaches of the internet (anonymity and security).

But that's not what the Chinese crypto is, this crypto will track your ass and keep a log of everything you do. Secure from everyone, except the Gov't. That's where this will end up.

The most secure transactions are still in cold hard cash.

Electricity is subsidized by the Chinese Government. It's pretty cheap there. There has been some talk about doing away with the subsidy by their Government Leaders because it was intended to help out the poor and never intended to help miners.

 

[moproblems99]

The most secure transactions are still in cold hard cash.

Anything with a serial number 'could' be tracked.

 

[Space Lynx]

Electricity is subsidized by the Chinese Government. It's pretty cheap there. There has been some talk about doing away with the subsidy by their Government Leaders because it was intended to help out the poor and never intended to help miners.

I read in several news incidents that in China the government there has looked at electricity history year over year, and when they see big spikes in residential areas, they ended up raiding a few of them and taking all the miners gear. lol

 

[64K]

I read in several news incidents that in China the government there has looked at electricity history year over year, and when they see big spikes in residential areas, they ended up raiding a few of them and taking all the miners gear. lol

I don't have a problem with people using their own money for mining but it should be illegal to use tax dollars to mine with. Some of the big mining farms are using hundreds of PCs to mine with but there needs to be a way to tax these people to reclaim the tax dollars spent on subsidies. At least give the miners a way to pay. That doesn't help with the pollution though.

 

[Chomiq]

Yeah sure, it has nothing to do with BTC dropping to 50k:

 

[arczi19]

Wasnt the news that caused it to drop to 50k though?

 

[trog100]

tesla make solar panels and electric cars.. they are green in colour.. bitcoin is not seen as green.. musk is just trying to play both sides of the card..

having said that the current banking industry uses way more electricity to do its thing than bitcoin ever does.. coiners and no coiners both sides have their own agendas and will push whatever suits them..

trog

ps.. it suits tesla if crypto mining goes more green.. it can easily do this..

on a different note the stock markets look in serious trouble.. we might be seeing the beginning of something big.. crypto will be affected.. they say there is close correlation..

 

[evernessince]

Yeah sure, it has nothing to do with BTC dropping to 50k:
View attachment 200189

I don't think Musk believes what he's saying about crypto. He's been jerking around crypto investors for awhile now. You don't invest the kind of money he has without knowing the environmental impact bitcoin has. Either he's benefiting from this is some way (and we all know he can make one announcement to recoup any bitcoin losses he may have suffered) whether that be tipping off "friends" or he just likes being the center of attention. I wouldn't put either options past musk.

 

[Vya Domus]

tesla make solar panels and electric cars.. they are green in colour.. bitcoin is not seen as green.. musk is just trying to play both sides of the card..

Which makes him a market manipulator. People are still in denial about corporate involvement in the crypto market.

I am surprised he can get away with so many blatant attempts at undermining and manipulating prices of assets, he even intentionally tanked he's own stock of Tesla once. But then again, this is the US we're talking about, insider trading and market manipulation is the name of the game and nobody ever gets investigated about anything.

 

[trog100]

Which makes him a market manipulator. People are still in denial about corporate involvement in the crypto market.

I am surprised he can get away with so many blatant attempts at undermining and manipulating prices of assets, he even intentionally tanked he's own stock of Tesla once. But then again, this is the US we're talking about, insider trading and market manipulation is the name of the game and nobody ever gets investigated about anything.

people are in denial about most things.. basically they havnt a clue about how things really work..

trog

 

[moproblems99]

Which makes him a market manipulator. People are still in denial about corporate involvement in the crypto market.

No one's in denial about it. It's quite clearly obvious. You seem to think everyone has these grandiose ideas because you stitch together random nonsense and say it was what we thought.

I mean Chase is partnered with Ripple. Of course Big Corp is in it. How stupid do you think we are?

 

[Vya Domus]

It's quite clearly obvious.

It wasn't obvious to you or it still is, a couple of comments ago you were quite certain that when the stock market will crash people will flock to crypto as that will presumably go up according to you. As if corporations would want to liquidate their stocks but not their crypto, for some bizarre reason.

How stupid do you think we are?

It's a question I don't want to answer for many reasons.

 

[moproblems99]

It wasn't obvious to you or it still is, a couple of comments ago you were quite certain that when the stock market will crash people will flock to crypto as that will presumably go up according to you. As if corporations would want to liquidate their stocks but not heir crypto, for some bizarre reason.


It's a question I don't want to answer for many reasons.

Oh my Lord. The skull is thick. Good day.

 

[Vya Domus]

Oh my Lord. The skull is thick. Good day.

Not that I expected any pertinent response from you, every time your beliefs are brought into question you respond with jack since you don't actually know much about anything. You sure like to pretend to, though.

 

[moproblems99]

Then everyone will. The stock market is going to go first. Crypto goes up when people don't trust the markets or assholes in charge of world governments. Right now, many trust neither.

Additionally, I am still in the green if all cryptos lose 80% of their value. Can anyone in the stock market say the same?

@Vya Domus , is this what you meant? If so, I said everything will [go down]. Crypto is usually high when there is instability. I didn't say everyone pours in when the market crashes. Please don't make shit up.

If that wasn't what you meant, that comment was three pages back. I didn't go back farther than a 'few comments'.

 

[Vya Domus]

You can spin it in which every way you want, you didn't say everything will go down (that was actually my point). What you said was quite clear, "The stock market is going to go first" and that crypto goes up when people don't trust other markets, implying the movement of investors from one to the other.

 

[moproblems99]

Additionally, it's best you and I stop this conversation. All I ask is you stop shitting on everyone you don't agree with and carry normal conversations like all the others.

Not so. Crypto became high because of the instability. When the markets crash crash, they pull out of all. Have a good day word spinning but please don't shit on others. PM me all you want.

 

[Vya Domus]

Yeah, I should stop shitting on everyone while you tell me that I have a thick skull like everyone else does during a normal conversation.

Interesting that you speak for everyone. I shat on everyone, really ? I responded to like 2 or 3 people on here. That's quite an achievement if I managed to do that. My only sin as far as I am concerned is that I don't revere crypto like some do, keep in mind, that's while I actually am invested myself which is hilarious. Realism is quite rare these day, if you don't sit at either end of the spectrum you're gonna have a bad time.

 

[moproblems99]

Actually, @Vya Domus , I owe you a public apology as I was out of line.

When I went back and reread your post, I was clearly out line. So please accept my apology.

 

[Vya Domus]

I know I alluded to some not very pleasant remarks as well, it's not my intention, I tend to speak about a type of person not a person in particular.

 

[moproblems99]

Carry on.

 

[R-T-B]

he did admit on SNL he has asperger's. my best friend also has asperger's. my guess is this is the reason he does what he does... he is a rich billionaire, genius at some things... but other things like emotional intelligence, he probably struggles with immensely. probably effects some of his decision making in this regard.

Hell I have Aspergers. It's not a universal excuse for poor behavior.

Wasnt the news that caused it to drop to 50k though?

Yes. People are fickle. Nothing new. Could be a good time to buy some crypto maybe... if you play that game.

 

[Space Lynx]

Hell I have Aspergers. It's not a universal excuse for poor behavior.


Yes. People are fickle. Nothing new. Could be a good time to buy some crypto maybe... if you play that game.

autism is a very diverse spectrum, he may be a little more on that spectrum than you, the title alone doesn't solidify a certain exact spot on the spectrum.

that being said, I don't think he can excuse his behavior either, he is in fact a genius after all, yet someone how I was smart enough to say the environment thing weeks ago... but apparently he is just catching up...

 

[moproblems99]

Yes. People are fickle. Nothing new. Could be a good time to buy some crypto maybe... if you play that game.

Only if you are looking short term. I think you'll see the big boys start to play games to bring the market up before they sell. All the markets are getting hit.

Inflation's reports are bad. Jobs report is bad.

It is illegal for them to pump the stock market, provided they are prosecuted, but it is not illegal to pump the crypto market, although Musk better be careful with Tesla being invested. That is a gray area I wouldn't want to be in. Any case, they will pump the market to make what they can.

I am planning my exit route now.

 

[Space Lynx]

Only if you are looking short term. I think you'll see the big boys start to play games to bring the market up before they sell. All the markets are getting hit.

Inflation's reports are bad. Jobs report is bad.

It is illegal for them to pump the stock market, provided they are prosecuted, but it is not illegal to pump the crypto market, although Musk better be careful with Tesla being invested. That is a gray area I wouldn't want to be in. Any case, they will pump the market to make what they can.

I am planning my exit route now.

jobs reports is good actually, as of this morning a new report came out and things are looking better already.