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The anti-crypto thread

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  • El Salvador President Nayib Bukele and legendary crypto entrepreneur Justin Sun are now buying one Bitcoin per day regardless of market conditions.

dollar cost avg 😱
great strategy (if you believe the value will go up someday)
 
More reason to trust .....

U.S. News // 6 hours ago
Two Estonian citizens arrested for $575 million crypto fraud scheme
Nov. 21 (UPI) -- Two men from Estonia were arrested for allegedly executing an elaborate fraud scheme involving cryptocurrency and a fictitious bank.
www.upi.com

Two Estonian citizens arrested for $575 million crypto fraud scheme - UPI.com

Two men from Estonia were arrested for allegedly executing an elaborate fraud scheme involving cryptocurrency and a fictitious bank.
www.upi.com www.upi.com



... Ooopps, wait .
 
pmv said:
What are those? Dedicated PCs full of SLI video cards? Do they manufacture custom PC cases specifically targetted at BitCoinBollocks now? Interesting.
Click to expand...

Obviously, when they als create motherboards like this:

81Rpt+OHpsL._AC_SL1500_.jpg
 
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more crypto bro's taking a L

~Speculation is swirling around the health of Digital Currency Group, a sprawling $US10 billion ($A15 billion) crypto empire which includes brokerage Genesis, asset manager Grayscale and industry news website CoinDesk.

Genesis was one of many firms caught up in the collapse of Bahamas-based FTX – one of the world’s largest crypto exchanges – freezing redemptions last week after revealing it had $US175 million ($A264 million) locked in its FTX trading account.

Bloomberg reports Genesis executives spent the weekend scrambling to raise fresh cash from investors to deal with a liquidity crunch, warning it may need to file for bankruptcy unless it can access at least $US1 billion ($A1.5 billion) in capital.

On Monday, Binance reportedly turned down a request to invest in Genesis.

“We have no plans to file bankruptcy imminently,” the company said in an earlier statement to Bloomberg. “Our goal is to resolve the current situation consensually without the need for any bankruptcy filing. Genesis continues to have constructive conversations with creditors.”
 
igor_kavinski said:
They are ASIC miners. They can be used to mine only a specific currency, most likely bitcoin. They are not cheap so just leaving loads of them lying around means their demand has tanked hard.
Click to expand...


So they aren't general purpose PCs, they are using chips dedicated to cryptocurrency mining?
So would all the hardware involved be dedicated? I had no idea how big this nonsense had become. They still use gaming-grade video cards, though?

(My only thought was if they would make good gaming rigs, tbh - looks like decent cooling there!)
 
pmv said:
So they aren't general purpose PCs, they are using chips dedicated to cryptocurrency mining?
So would all the hardware involved be dedicated? I had no idea how big this nonsense had become. They still use gaming-grade video cards, though?

(My only thought was if they would make good gaming rigs, tbh - looks like decent cooling there!)
Click to expand...
No these ASICs are purpose built for mining, no GPU involved. GPUs are no match for ASIC mining

 
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MrSquished said:
Now I'm confused. Is now the time to buy crypto? Or only if I am a pedophile? Can someone explain?
Click to expand...
It is pretty simple. If you are willing to lose all your money, and give it to billionaires like Carl Icahn, then yes by all means get in. Remember, the establishment needs your money.
www.reuters.com

Carl Icahn holds short position in GameStop - Bloomberg News

Activist investor Carl Icahn has a sizeable short position in video game retailer GameStop Corp , Bloomberg News reported on Monday, citing sources familiar with the matter.
www.reuters.com www.reuters.com
 
MrSquished said:
Now I'm confused. Is now the time to buy crypto? Or only if I am a pedophile? Can someone explain?
Click to expand...

Nah, it was always about supply side, so I guess go make child porn if you wanna make money from the cryptobros. That's the next shoe that's gonna drop is how many of these fucking clowns are gonna get sent away for amassing child porn collections. And imagine them crying in court "its an NFT, its supposed to be non-fungible, only I'm supposed to be able to see it!"
 
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