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The anti-crypto thread

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Lost_in_the_HTTP said:
Yay or Nay?
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We're in a sideways period where the market can't make up its mind. Moving below $20k again just isn't big news, since BTC has already been there. Recently. ETH is falling again too. Nobody knows where the market will wind up. Too much buy pressure for it to really crash, but too many people profiteering on relatively small movements for upward momentum to build. Things are still unstable.
 
dullard said:
I'm a long term nay. But, even if you want to buy now, wait for the crash at the end of today.
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Yes, exactly. There's still a chance of someone dumping at the institutional level. The market might not stay down for long, but BTC could easily hit $12k and ETH could hit like $400. Regardless I think, right now, $1k is too expensive for ETH.
 
DrMrLordX said:
Hah I'd load my bags up like crazy if it hit $1.
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Yeah for $1 I'd buy a load. I'm still mad at myself for not loading up on AA when they are at 50¢ in Chapter 11. I knew the Chapt 11 was BS, but still figured the shares would be zeroed out. Came out of bankruptcy and the shares were worth like $45/ea.
 
sdifox said:
I thought Texas made a big deal of inviting crypto miners LoL?
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They did. ERCOT just doesn't have the power output to deal with the heat right now. Miners are apparently being good little boys and girls and halting operations during peak hours, so that's a plus, I guess.
 
It wouldn't surprise me if some of the top crypto bros in charge of these crypto schemes are currently engineering exit plans.
 
Bitcoin Might Fall to $13,000
www.barrons.com

Bitcoin Might Fall to $13,000. Miners Could Be to Blame.

Bitcoin miners have come under pressure from a one-two punch of rising energy costs and falling token prices—but they might finally be catching a break. The problem? It could come at the expense of Bitcoin prices.
www.barrons.com www.barrons.com

the average production cost of Bitcoin is now $13k. 😱

“a strong effort by miners to protect their profitability by deploying more efficient (less electricity) mining rigs rather than a mass exodus by less efficient miners,”

the article also says bitcoin production costs were $20k last month (June).

How did they cut the cost to produce a btc by 1/3 in a month?!
 
Last edited:
JEDI said:
the average production cost of Bitcoin is now $13k. 😱

“a strong effort by miners to protect their profitability by deploying more efficient (less electricity) mining rigs rather than a mass exodus by less efficient miners,”

the article also says bitcoin production costs were $20k last month (June).

How did they cut the cost to produce a btc by 1/3 in a month?!
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Cue the people that claim mined CC has no "intrinsic value", and they conveniently ignore the cost to mine it.
 
VirtualLarry said:
Cue the people that claim mined CC has no "intrinsic value", and they conveniently ignore the cost to mine it.
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The cost to mine it is irrelevant to the value. All those obsolete computer parts laying around your home have no value despite the cost to manufacture them.
 
IronWing said:
The cost to mine it is irrelevant to the value. All those obsolete computer parts laying around your home have no value despite the cost to manufacture them.
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My Radio Shack Tandy computer makes a great paper weight.

oh man.. this jogged a memory.. i dont think i ever threw out my dot matrix printer.
it's somewhere in my house 😱
 
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