Money & Finance

“You know what, if you won the lottery – Yes, I’m gonna say it: 5% in Bitcoin,” Cramer said Thursday night on his Mad Money program. His advice came with a few caveats: Don’t buy it all at once, don’t buy it on the weekend. “Crypto could be incredibly volatile,” he said on a day when BTC tanked 13%.

According to data fetched by CryptoQuant, a South Korea-based blockchain analytics firm, Bitcoin miners at Chinese mining firm F2pool started the massive sell-off that crashed the BTC/USD exchange rate by almost 20 percent in just less than 24 hours. CryptoQuant deduced the mining pool’s act as the main catalyst that slumped its price from $35,498 to $28,732 in just 24 hours. Meanwhile, New York-based cryptocurrency investment firm Grayscale Investments purchased more than $600 million worth of BTC this week, especially as the price was heading lower.

Michael J. Saylor understood that it is the best strategy with Bitcoin. Regular purchases, taking advantage of price drops to accumulate more. Bitcoin is an accumulation game for years to come. The more you can accumulate, the better.

"First of all, I think many of the counter arguments are basically whataboutism - what about gold, etc. Bitcoin consumes about 80 Twh, and part of that is from fossil sources. It's not useful to try to deny this, because it's real world out there and the choice of the energy source has real consequences. The world is becoming carbon neutral, so in consequence bitcoin mining will too be carbon neutral at some point. How quickly that happens is also in the hands of bitcoin mining operations. Data centres and data transmission networks consume about 400 Twh (2019) - https://www.iea.org/reports/data-centres-and-data-transmission-networks So, bitcoin is still less than that, but many of the large platforms are 100% renewable already. The problem is the same anyway - what is the source of energy. The energy issue needs to be addressed transparently. Miners could take the initiative in their hands and start to openly publish consumption / energy source data. Right now the data is incomplete, and the discussion is dominated by speculation based on incomplete data. This can best be countered with real and honest data, to show that the industry takes the issue seriously. Besides, this would then perhaps make it possible to voluntarily pool mining resources based on sustainability, to grow the renewable share of the total energy consumption. Anyway, it's not just helpful to come up with counter arguments, but the initiative of the issue and discussion / narrative needs be taken. The climate crisis is real, and to acknowledge and address that will help to tone down criticism. This topic arises every time bitcoin pops in the public minds, and if it's not addressed it'll get politicised at some point. It will not just go away." - VIBR_339

I like his point about one being available to the entire world while the other to those with a brokerage account. Nailed it!

The most common misconception about Ethereum is that it's a massively parallelized, distributed computing network. In actuality, it's a massively redundant, distributed computing network. Since every node performs every computation, the overall speed of the distributed computer is not a function of the amount of computing power in the network but is actually equal to that of the slowest node in the network. That's not very interesting from a computer science perspective.

vb5gr1qqsxb61.gif.mp4

Documentary about the cryptocurrency Bitcoin: Bitcoin: Beyond The Bubble - What is Bitcoin? With the advent of Bitcoin, the world's premier digital currency, for the first time in history money is no longer controlled by banks or governments, but by the people who use it. Bitcoin: Beyond The Bubble (2018) Director: Tim Delmastro Writer: Tim Delmastro Stars: Jeff Berwick, Catherine Austin Fitts, Trace Mayer Genre: Documentary | Short Country: Australia Language: English Release Date: 1 May 2018 (Australia) Storyline: What is Bitcoin? With the advent of Bitcoin, the world's premier digital currency, for the first time in history money is no longer controlled by banks or governments, but by the people who use it. But where did this currency come from? How does it work? And is it truly the way forward, or just a flash in the pan?

Quote: “It’s a new model for society we’ll be testing.”—Marc Lore, founder of Jet.com and Walmart e-commerce chief. He’s leaving to focus on building “a city of the future.” Did Henry Ford try this back in the day as well?

Google researchers have trained a large language model on 1.6 trillion parameters. GPT-3—one of the largest and most sophisticated language models ever—was trained on 175 billion.

WIRED

Gemini is a US cryptocurrency exchange and custodian founded by Tyler and Cameron Winklevoss, who, thanks to The Social Network, need no introduction. Last week, the startup announced it’s launching a credit card with crypto rewards. The Winklevii also hinted that they are considering a public offering for their exchange.

Outcry Over Power Outages, Smog Forces Iran To Act Against Bitcoin Miners https://www.rferl.org/a/iran-smog-bitcoin-mining/31049437.html