/biz/ - Business & Finance

>>49899510
i mean yeah, difficulty is way up there, electricity costs have gone up, rents also (to store their stupid miners), what they gonna do.

>>49899510
Post link to vid where Jaran is drunk as fuck and starts sucking a random guys cock in the club who is wasted

>>49899599
why they're doing it is obvious
and the consequences are also obvious. if you have a brain
but not to 99% of crypto degens who think a reversal is just around the corner

>>49899510
How can you sell more than 100% ?

>>49899671
by selling their reserves as well

>>49899655
what part of BTC is going to ZERO you guys can't understand

>>49899599
What's the cost of mining for these public companies right now?

>>49899813
the cost of mining is higher than what you get selling it
it's been like this for a while but miners have been borrowing money to keep operations going, thinking prices would bounce back
prices did not bounce back so they are up shit creek

>>49899510
>sold more that 100%
>more than
>100%

>>49899510
How can I profit from this?

>>49899671
>>49900078
>have 1 you didn't sell last month
>mine 5
>sell 6
you guys aren't gonna make it.

>>49899599
>>49899510
>violently dump the price down
>WHY AREN'T WE MAKING MORE MONEY
>"what they gonna do"
Not destroy their own market maybe?

>>49899510
>started
>May
June data shows they are now holding. Amazing post OP

>>49899655
So POS really is the future?

>>49899738
kek this.
It literally has negative real value.
It's as close to a LITERAL RATHOLE as anyone has ever conceived.
topkek

>>49899510
kek they do it for free and sell the bottom

>>49901858
POS = zionist centralization
as it is POW is centralized sure, big miners make a billion times more and have way more control of the network, but you can still join a pool and mine small time.

With proof of stake nobody can mine unless you personally give $100m to vitalik and he personally white lists you.

This means the only way to mine will be with centralized pool operators (exchanges); which means even more centralization; as you are no longer in control of your funds

do you part and fud all proof of stake tokens

>>49901960
>you can still join a pool and mine small time.
>you can still throw money down a rathole for society as well
Why not use something cheap and fast that actually adds value though?
You are a fucking commie retard is the only reason.
You think digging ditches and filling them in adds value because you did work.
You are that dumb.
And your spacing is that reddit.

>>49899510
Energy is killing miners

>>49901960
>>49902037
Honestly, it just seems like pretty much all of crypto is falling well short of the decentralized dream.

>>49902113
>cold hard reality is rejecting cryptocurrency mining

>>49902152
That was a lie to encourage the people that would lean towards understanding what an incredible means of control crypto is to buy in under the pretense that it was "fighting the man."

I'd be insanely wealthy, but I got disillusioned when I figured this out around the time BTC was $3.
I did just fine anyway. But point being, it's kinda like only teenagers and very interested parties "believe" that anymore.
Asimove wrote about recording every transaction and feeding it to a super computer to control everyone's life like 100 years ago.

>>49901960
are you unironically on meth
i run eth validators on my home connection
i have even more staking exposure while liquid through stETH and rETH
even a poorfag can buy 0.001 rETH for ~$1 on L2 and be exposed to staking rewards

>>49899510
Best part about bear markets are the shitty mining companies going under. Most miners shouldn't be profitable the way they currently do things.
Only the ones with a reliable edge over consumer electricity prices are secure in their business. If you're burning oil or some shit to mine you should have just bought BTC if you wanted it instead of being a retard.

>>49902152
Two off the top of my head that are truly decentralized.

>>49899603
typical AI bot answer

>>49902227
>decentralized
oh really? so, you can trust a transaction or "coin" on these networks, without being able to verify where it came from? it need only be internally consistent information, its correctness/value verifiable without any external service?

>>49902037
>You think digging ditches and filling them in adds value because you did work.
The work makes attacks cost more work. That's it but that's enough to add value.

>>49901960

>>49902291
>I did work and now it's harder for you to throw your money down a rathole as well
It will go to zero. Possibly negative prices.

>>49902271
>mmhh grayons

>>49902341
You, the voice of a retarded boomer spirit said the same thing for over a decade. The same kind of voices including many of the exact same people said the same thing about the internet. Every time on every subject my predictions outperform yours. What does that mean?
$20k, the event you're pretending means something wasn't unexpected. $10k is outside expectations but not far.

>>49899671
wow this place really is full of 3rd world brainlets

>>49902537
No. I'm talking long term.
It could easy hit $100,000 by fall.
You assume far to much and don't think very much.
Typical of zoomers and young millenials.

>>49902605
>$100,000 by fall
>Easy
Seek help, it's crab season.

who is buying the bitcoin though?

It's awfully interesting that a bunch of circumstances entirely within the purview of world Governments (like monetary stimulus, wars, lockdown measures) would directly contribute to scam wicking the only metric that exists to put miners out of business and force them to capitulate their holdings, energy.

I wonder how many nations will go the El Salvador route only announcing that they made their purchases during the bear when it's back in bull land.

>>49902227
>>49902379
>non-answer
yup, that's exactly what i thought. it's not decentralized.
never will be.
you see if someone hands me a gold coin that's recently been minted by a powerful government, i can put it on a scale, and then i can accept it, without knowing where it came from.
the chinese might try to pull one over on people who accept gold bars by filling them with tungsten, but that's likely just US propaganda. besides, you can check for it non-destructively. it's just more expensive to do.
it is the gold itself that has the value. and that's why it went from regular good to money good. nothing has come along that's better. one look at the periodic table, and anyone of even a little above average intelligence can see that nothing ever will.
it even works for paper, of course, which is why it's so easy to "de-monetize" (take out of circulation) gold and silver, by offering paper certificates. at a fundamental level you're not allowed to refuse them; it says right on it, "legal tender for all debts public and private." you may not accept physical cash, but that's fine, because digital transfers are just as safe if not safer than cash exchanges: the credit networks are centralized, and they do real-time fraud detection.
so the gold or silver coin represents itself, and the paper dollar says right on it that government representation is right behind your shoulder with a gun. other goods can be priced in these goods by being connected to a history of prices, going back thousands of years, context-free. the thing itself brings its own context.
but all crypto is just an IOU. an IOU has to be traced back to who the "I" is, the first person to receive it cannot just hand it onward to a third party, because that guy needs to ask "U" -- unless he's a fuckin' retard -- "who is that 'I' guy and is he good for this amount?"

>>49902605
Maybe but that would be because a successor would make Bitcoin outdated. Bitcoin is still the current vehicle to invest in that future.
More likely unless there's a radical change in philosophy any new development will be incorporated into the established network. Bitcoin will technically need to be updated at the latest in 2038. That will technically be a "fork" but those that don't upgrade will be left in a network that doesn't work.

>>49899510
Why did they wait so long?

>>49902760
one presumes they are being forced to sell to cover their electricity bill, not because they're happy about the price.

>>49902760
yearly payments are usually due around May/June

>2018: 4 weeks after the miner capitulation began, the mega crash from 6k to 3k started
>2022: miner capitulation began 2 weeks ago

Prepare accordingly

>>49899510
Isn't this a sign that we are close to the bottom?
I mean, we are closer to 12k than to 69k

>>49903172
In 2018 it took 8 weeks from the moment of capitulation until the absolute bottom was reached.

The bottom is probably a few weeks away, and it's most likely somewhere around 12k

>>49899671
Put me in the screenshot

>>49899599
WHATAMAGONNADO??? MINERCONNEEEEEEEEEECT

>>49903172
no it's a sign that miners have only just started to capitulate
and the more they sell the lower the price goes and then they have to sell even more to break even
this is going to take a while. alot longer than most people think

>>49902738
Monero is more fungible than gold because you don’t have to test it to make sure there’s no tungsten inside, lmao. All monero is the same.

>>49902673
How retarded are people really?
That sentence is meant to show that I have no short term hate or delusion like Peter Schiff, not to pinpoint a target price for fall.
Jesus Christ.
And it COULD. I would not bet on it.
>>49902742
They measure micrometers of ethernet cable at the stock exchanges to keep anyone from having a trade advantage brother.
BTC is SLOW AS FUCK.
It's already lost and won't survive except as a relic collectors item by 2038.
kek
Where are all the Zoom MP3 players?
Exactly.

>>49899510
This puts the bottom in retard

>>49903113

>>49903513
>BTC is SLOW AS FUCK.
Fiat doesn't even have the mechanism, you can't transact it, just record credit and debit on a notepad somewhere and call that a transaction. You're complaining about a feature being slow while offering an alternative that does not offer the feature at all.
There are inherent limitations to non custodial systems.
The more nodes I have involved to verify the security and the more spread out and thus secure the network is the slower it will be. It will always be slower than direct messages like you're talking about on trading platforms. Time locked second layer transactions have benefits of the non custodial networks but you can transact with direct messages like in a private custodial network. lnmarkets.

>>49899671
You asked the right question, don't listen to haters king

>>49903513
>It's already lost
The only feature crypto adds is security. It dominates in the area where crypto adds something. It's not a consumer product like myspace or mp3 players, it's a base layer. Where's tcp/ip today? Are you planning on replacing it?

Doesn't matter really because not that much bitcoin is left to mine. Less than 10% of the supply over more than 100 years.

>>49903810
The ratio of resources spent on mining compared to value added isn't in a sustainable place because of the excessive speculation.
If it's the backbone of a large economy then 10% is a lot. The fees alone are a lot.

>>49903692
>Fiat doesn't even have the mechanism
There are other secure transfer systems though. It's not BTC or nothing.
Caysh is still king for anyone interested in having any freedom whatsoever.

>>49903747
For some reason my last post was spam no matter how I edited since it started over.
The internet protocol had/has massive adoption that necessarily creates massive costs to switch over.
That does not apply to btc.

>>49903965

10% total over more than 100 years. That is not a lot.

>>49903747
Bitcoins ability as a messaging protocol is highly limited; it was known back then it is known now, without off chain computation crypto is going to stay a nerd toy, a very secure one, but non for mass markets

>>49903965
>value added
>natural resources in a rathole on fire
Commies will never realize that there is no real correlation between work and value.

>>49903970
>There are other secure transfer systems though
No. There are none. Anything you will mention will rely on many layers of middlemen. There's no security involved, just pure trust.
Even when I physically accept a dollar from you in exchange for work I'm trusting the US is solvent, it's just an IOU from a central entity.
You can physically trade an asset like gold but you can't transact any of them online, just IOU representational contracts.
>>49904015
>That does not apply to btc.
It does. It's the reason you can't just make a clone. The security comes from miner adoption and liquidity from market adoption. The established massive adoption creates massive costs to switch to anything else. There needs to be a good reason to justify the cost and the horseshit about transaction speeds isn't one. It demonstrates a level of non-thinking that doesn't even account for the laws of physics.

>>49899510
Why is 120% on this dumbasses graph? You cannot sell more than you mine in a month on a graph about mining in a month...

>>49904119
BTC is the only mechanism that subsidizes building green energy infrastructure globally. It does more than all the politicians to make sure hydro dams are built.

>>49904200
based retard

r8 my poorfag starter pack

>>49904222
>4 figs: all-in on 1 altcoin
>5 figs: 2 alts
>6 figs: 3 alts
>7 figs: BTC + 4 alts

Diversification is to protect your wealth from unforeseen events, and you don't have any wealth to protect

>>49901600
It's still a poorly formatted English sentence. If there is one from last month, then it wasn't produced in May.

>>49904271


Im from Russia and my salary is 3 potato per year

>>49899671
I was wondering the same thing anon.

>>49904177
I went through all this reasoning ten years ago.
Let's say I take it as a given that it's all true.
We'll just skip that part.
It's too costly to benefit the average person. Transactions need to be near free to benefit anyone that isn't already rich.
I have been around since a tx took over a day.
It's better, but still doesn't impress and costs too much.
>>49904209
>subsidizes
Green energy is bullshit and a lie.
Oil is a green as it gets unironically.
All "green" energy relies on oil or involves incredibly destructive chemicals and inputs like lithium.
Green is another lie to control you. Oil and gas is freedom. Charging stations and being on the grid is slavery.

Protip: If they want rid of it, it's good for you. This doesn't seem to apply to btc at all, but certainly applies to guns and oil.

>>49904297
Doesn't change what I said. You don't start diversifyng until you actually have wealth to protect

We got another month or two until the bottom

>>49903113

You guys do remember when China unbanned BTC mining right?
Its no surprise Miners are selling like crazy and they don't care how expensive energy because over there the mining farms are owned or heavily invested in by the energy sector. I mean really there is no big industry separated by the gov't.

Mine high, sell low. The way god intended it.

>>49904446
We can’t be sure it will play out the same this time. We’re in a cryptoderivative environment without free electricity.

>>49904271
unironically good advice

>>49902209
>i run eth validators on my home connection
with how much money
32 ETH MINIMUM

>Solo staking is the act of running an Ethereum node connected to the internet and depositing 32 ETH to activate a validator, giving you the ability to participate directly in network consensus.
https://ethereum.org/en/staking/solo/

$32,000 (6 figures before the crash)
how is this decentralized?

anyone with a cpu made in the last 5 years can solo mine monero and bring decentralization to the network.
anyone with a gpu made in the last 5 years can solo mine anything else and bring decentralization to the network

ANYONE can start pool and mine with a group of like minded individuals AND IT DOESN'T COST 32 THOUSAND DOLLARS PAID DIRECTLY TO VITALIK

>>49899510
>buying 1k btc at 43k
>selling 3k at 20k
embarrassing,

>>49904177
>You can physically trade an asset like gold
Notice the subtle difference between that and fiat. I'm accepting gold because I expect to be able to sell it in the future but I still own the actual asset no matter how worthless it may be instead of a promise of value in the future.
>>49904362
>t's too costly to benefit the average person.
Asking the entire world to verify your ledger entry is extreme. There's no reason to do that every time you buy coffee. That you think these kinds of pleb use cases are some prerequisite to "success" means your brain is completely fried.
Even if all transactions were only settled at the end of the day there would at least be a settlement layer. The main reason for transactions is to be able to reward the miners to create a secure system so the asset can actually exist. You don't need to do everything on chain with global verification. It's insane that you would want to. Why would it occur to you to ask the entire planet for permission to buy coffee unless you're lost in some abstraction you don't really understand?
>Green energy is bullshit and a lie.
You're a retard brainwashed with lies. Green energy means I can be self sufficient and independent from Saudis and burgers. I don't need to buy your shit. Even in the cases where the initial investment uses oil I still have an asset instead of a consumable. Greenhouse propaganda doesn't even enter into it, all it does is distract you from the real reasons why you should want to be "green".

>>49899510
The beautiful thing about bitcoin miners is the Miner costs the same regardless of btc price. 10k for an antminer whether btc is 20k or 69k. Absolute shit business, if your business model is to make money speculating on btc just buy some long, no need to add all the operational risk of an actual mining operation if all youre doing is a leveraged bet anyway.

>>49899655
>the consequences are also obvious
Yes it means all mining will leave 1st world and move to countries with cheap electricity
>but not to 99% of crypto degens who think a reversal is just around the corner
Oh I see you're a seething tourist

>>49904854
>Yes it means all mining will leave 1st world and move to countries with cheap electricity
As it should. If the electricity edge is a big enough factor then it becomes highly profitable to invest in third world hydro dams. Even on a small scale, you a random faggot can show up in some African town, provide them with electricity and make crazy money mining using a portion of the output.

>>49904914
imagine building a wukanda-like white ethnostate in africa using their own resources better than they ever have.

>>49904786
its even worse - the asic miners depreciate like hell as the new ones beat out the hashrates of the old ones every year

>>49900010
>>49899599
>>49899655
>>49904200
they're competing against BCH. https://www.youtube.com/watch?v=vFHafbC0HWo (First 2 mins of video about how BCH is leeching from BTC)

>>49902271
>attempt to use big words

>>49899510
Only retards still think we will have another bull run.

>>49901645
>Mine to make money
>Make money
>BTC price goes down
It's the entire point of the system. To dump BTC for money.

>>49899510
Hex solves this

>>49901870
is it true tho?

>>49899510
btc only goes up

>>49902207
This is why I've never understood btc. It's basically the patriot act for money.

If i was YOU, right now i would sell every crypto i have and buy back in august

>>49899671
Read the Talmud

>>49906748
You're both assuming like retards that this is about buying coffee. Transparency is a feature. You can already choose to prioritize privacy and more features are coming but for most applications that a distributed ledger fits you want transparency. You want to know how public institutions spend their funds, you want the public to be able to independently audit the reserves of their public banks etc.

>>49906906
lol

>>49901548
short bitcorn

>>49906595
ask Dan Pena

>>49903113
>began 2 weeks ago

Based on what? OP's shart shows it started in May. At the very least it's been 3 weeks, if not 4-7. Realistically, the dump's catalyst was Celsius, but the fuel was miners oversupplying the market.

>>49899510
>mining companies literally helping crash bitcoin
you get what you deserve

Miners selling won't matter as much when the block reward is 3.25 instead of 6.5 in 2024. Might be in a world of hurt until a little after that though.

>>49906964
Anyone who still thinks any enterprise/business with more value than a mom & pop shop will remain transparent is a child. DLT is about a distributed ledger, not decentralization and not about public transparency. Most all chains will be obfuscated and that's already happening. Deloitte,Chase, Lockheed etc are not going to share with you lmao. Neither is the fucking gov.

>DLT = Trust minimization

>>49908800
>about distribution not decentralization
It's always amazing how retarded you retards can get. Seriously, congratulations on this.
For some purposes, the ones that distributed ledgers fit the best the most important thing is demonstrating publicly that you're doing what you say you're doing.

>>49909482
>demonstrating publicly
Exactly and that is no concern to those I have mentioned, retard. Distributed doesn't equal decentralized and transparency isn't a concern for most use cases of the public. Transparency amongst a few is the goal. Good job.

>>49899510
miner capitulation is long term bullish

>>49909558
My post was addressing the retarded idea that Bitcoin helps corporations track your behavior. Then I gave examples where keeping transactions public is useful.
You replied with an incoherent braindead rant that says nothing about anything. Both your posts would be better if they were made by a bot. Stop posting. It's harmful to you and your environment.

you guys are both autistic and should kys immidiately

>>49910239
Why not say something you mindless shithead? Since you're posting why not present some idea or reasoning? What is wrong with your brains?

>>49910351
my brains are fine since i don't have to argue with autists about inane shit nobody cares about

>>49910412
Why are you doing it? Why post? You supposedly don't even care which is clearly a lie. So what's wrong with your brain? Saying it's fine is lying to yourself since you're demonstrably not behaving as if it's fine.

>>49910732
Why are you posting faggot? BTC is a failed exp. 1999, Ari, ecash.

>>49903333
Holy shit checked WASA WASA WASA WASA WASA WASA

>>49912128
He moved onto IOTA next
https://i.4cdn.org/wsg/1655949149664.webm

>>49912033
Say something retard.

>>49899671
You can't. Don't be fooled.
100%-100%=0%.
You can't have negatives in real life.

>>49912734
lol brainlet detected.

i earned 5000 each month this year. in may, i bought a motorcycle for 10,000 and i spent 200% of my income from that month.

nigger

>>49912856
>i bought a motorcycle for 10,000
no you didn't.
you can barely afford gacha without your mom

>>49899510
it's literally over

>>49899510
bottom signal, it means we are at peak btc inflation for this bear cycle, after this hashrate goes lower reducing inflation even more until equilibrium is reached.

>>49914524
are you retarded?

>>49899510
That's actually bullish for long term btc chads
Alt coin zoomers here are deluded tho
>t. 3 digit btc buyer

>>49914758
This happened in late 2018 and early 2019

>miners dumping = max inflation
>= max sell pressure
>= lower hashrate
>blocks > 10 mins
>lower inflation
>= difficulty adjustmen down until new equilibrium

miner capitulation is short term bearish long term ultra bilish

when this faggots have lot of coins to liquidate be affraid.

>>49915015
do you realise hashrate doesn't affect btc production?

>>49899671
naked sharting.

>>49915015
Can we equate this to bullruns begging when the market is at it's most vulnerable point and all hoarders start panicking? I remember back in 2018 everyone was eating the copetard/doomfag pill then nobody took responsibility when the market did start recovering. And it started with the DOGE craze, you can thank elon for that. One has to wonder if shitcoins like reflex can achieve the same feats, considering the patterns all look the same as they did back then
tl;dr can memecoins start bullruns again?

>>49915037
yes it does 2018 delayed the halving by months it reduces btc production massively because the time between difficulty adjustments & new equilibrium has some delays.

it's not perfect 10 minutes when it's going down.

>>49915274
memecoins like doge have low inflation rate for real now ,the thing right now is the massive monetary deflation going with with massive economic inflation.

Powell realized he was going to get guillotine when the white house went full "no my problem" on inflation so now the fed is trying to return the bag to the executive power by going full "no my problem" by raising rates and crashing everything with no survivors.

Everyone knew they were going to rise rates, hell 2016-2018 had rising rates, what nobody expected is for the fed to start larping thes .75 rate increases when everyone knows they will default the usa if they do this for 4 months.

Worse the degenerates from the bog are openly talking about how good 10% unemployment would be, unbelievable the audacity of these fuckers, first time in 51 years with wage growth and are openly baneposting about fucking the economy as an inflation fighting tool.

Only reason they are doing this is because they return the economic problem bag to the executive power.

Can memecoins start bullrun?Sure but wait until the boomer markets break (and they will), the current economic slowdown reminds me of late february 2020 when the covfefe meme started to gain power.

>>49899671
> The averrage LUNA investor

idk but REFLEX is giving away a free flight to Dubai
join the tg

Syscon will implement the project's phase 3 in Q3 2022 Validium Technology which is designed to reach speeds of 4 million transactions per second and will cement the viability of Syscon platform for years to come.

its over

>BITFUCK

>>49901645
Why would someone want a bitcoin other than to sell it for more then he bought it?

>>49917003
>fleeing your war torn country into a racist country towards your people
>your options are carry a backpack full of gold bars, or memorize your bitcoin key
yeah this shits stupid and pointless

>>49899671
based

Sneed