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Money & Finance

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  1. “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%.
  2. 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.
  3. 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.
  4. "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) -
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    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
  5. I like his point about one being available to the entire world while the other to those with a brokerage account. Nailed it!
  6. 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.
  7. 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?
  8. 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?
  9. 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.
  10. 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.
  11. Outcry Over Power Outages, Smog Forces Iran To Act Against Bitcoin Miners
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  12. The government has also had to impose short term shutdowns of authorized Bitcoin farms to prevent further strain on their power grid. This follows a major move in January 2020, where the Iranian government began issuing cryptocurrency mining licenses to operators.
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    In Iran you don't get a hold of 45k asics without going through the gov. The miner must of fallen out of favor by not paying his bribes and was disappeared
  13. Money is simply a tool that humans use to move value across space and time. Fiat currencies were clearly designed to be spent. Wanting to save the fruits of your labor with a fiat currency is totally foolish.
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  14. Gary Gensler, who led the Commodity Futures Trading Commission during the Obama administration from 2009 to 2014, will be President-elect Joseph R. Biden's nominee to lead the Securities and Exchange Commission. Rohit Chopra, the former assistant director of the Consumer Financial Protection Bureau, has been chosen to run that agency. It is rather good news to have someone in this position who understands Bitcoin and how important it will be to the world of the future. It remains to be seen whether this will translate into favorable regulation.
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    The remittance market has to realize their days are numbered.... and with establishing a community of businesses that have real-world uses, the people theree don't have to convert to fiat at all. I am going to be keeping an eye on this for sure. LN is such a huge win for BTC.
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    "So, anyone saying that bitcoin is in a “bubble” is making a judgement call on its intrinsic value. But they never (not that I’ve seen, anyway) share their calculations or even reveal the number that they’re thinking of."
  15. FYI, North Dakota has the only state owned bank A BILL for an Act to create and enact section 6-09-15.10 of the North Dakota Century Code, relating to cryptocurrency custodian services and exchanges; and to provide for a legislative management report. BE IT ENACTED BY THE LEGISLATIVE ASSEMBLY OF NORTH DAKOTA: SECTION 1. Section 6-09-15.10 of the North Dakota Century Code is created and enacted as follows: 6 - 09 - 15.10. Cryptocurrency - Exchange - Custodian services. The Bank of North Dakota may provide custodian services for digital currency and may implement a digital currency exchange. SECTION 2. BANK OF NORTH DAKOTA - CRYPTOCURRENCY - REPORT TO INFORMATION TECHNOLOGY COMMITTEE. During the 2021-22 interim the Bank of North Dakota shall study the feasibility and desirability of providing digital currency custodian services and of implementing a digital currency exchange. Before August 1, 2022, the Bank shall report to the legislative management's information technology committee the outcome of the study.
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    5-y&geo=US&q=buying gold,buying bitcoin Interesting to note that when this happened in 2017, BTC was still a while away from peak.
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