Serving the Quantitative Finance Community

 
User avatar
Alan
Topic Author
Posts: 10714
Joined: December 19th, 2001, 4:01 am
Location: California
Contact:

Re: End of bitcoin?

May 21st, 2021, 2:59 pm

Unlike mainstream traditional currencies, bitcoin is virtual and not made from paper or plastic, or even metal. Bitcoin is virtual but power-hungry as it is created using high-powered computers around the globe.

At current rates, such bitcoin "mining" devours about the same amount of energy annually as the Netherlands did in 2019, data from the University of Cambridge and the International Energy Agency shows.
The conclusion is clear: either bitcoin or the Netherlands has got to go.   :D
Related, some kind of chutzpah award should go to: 
Bitcoin Miners Are Giving New Life to Old Fossil-Fuel Power Plants    
 
User avatar
bearish
Posts: 6636
Joined: February 3rd, 2011, 2:19 pm

Re: End of bitcoin?

June 1st, 2021, 11:42 pm

So now we have had, in short order, gasoline supplies and then beef supplies shut off. Ransomware as service, with secure payments courtesy of Bitcoin. An invention that serves no other purpose and consumes enough very dirty energy to make Elon Musk blush. EMP attacks on certain Russian locations are obvious partial solutions, but banning any transaction that converts Bitcoin into real world cash would be a kinder and gentler starting point.
 
User avatar
tagoma
Posts: 18790
Joined: February 21st, 2010, 12:58 pm

Re: End of bitcoin?

June 7th, 2021, 11:44 am

The 2021 Bitcoin Conference that took place in Miami last week has finally exposed the level of insanity in the cryptosphere if you ask me.
 
User avatar
bearish
Posts: 6636
Joined: February 3rd, 2011, 2:19 pm

Re: End of bitcoin?

June 11th, 2021, 2:35 am

An excellent development is that said Miami BTC conference has now been confirmed as a Covid super-spreader event. Yay!
 
User avatar
tagoma
Posts: 18790
Joined: February 21st, 2010, 12:58 pm

Re: End of bitcoin?

June 23rd, 2021, 11:26 am

Crypto funds 'disappear' from French asset manager books

"technical glitch" (aka new Window feature)


Image
 
User avatar
bearish
Posts: 6636
Joined: February 3rd, 2011, 2:19 pm

Re: End of bitcoin?

June 24th, 2021, 3:08 am

Sounds like business as usual.
 
User avatar
tagoma
Posts: 18790
Joined: February 21st, 2010, 12:58 pm

Re: End of bitcoin?

June 26th, 2021, 8:49 pm

Bitcoin Slips Toward $30,000 as Strategists Flag Near-Term Risks

The JPMorgan team said blockchain data suggests recent cryptocurrency sales were made to cover losses and that “there is likely still an overhang of underwater positions which need to be cleared through the market.”
 
User avatar
tagoma
Posts: 18790
Joined: February 21st, 2010, 12:58 pm

Re: End of bitcoin?

July 9th, 2021, 11:17 am

 
User avatar
bearish
Posts: 6636
Joined: February 3rd, 2011, 2:19 pm

Re: End of bitcoin?

July 9th, 2021, 7:33 pm

That puts an entirely new meaning to shitcoin (an otherwise well established phrase in the crypto community).
 
User avatar
trackstar
Posts: 28004
Joined: August 28th, 2008, 1:53 pm

Re: End of bitcoin?

July 9th, 2021, 7:56 pm

That puts an entirely new meaning to shitcoin (an otherwise well established phrase in the crypto community).
Even better, you could have bid on a "bitchcoin" at auction last month:

Phillips is Offering ‘Bitchcoin’ by Cryptocurrency Pioneer Sarah Meyohas Next Week

"This week, Phillips announced that from May 25th through the 28th, they’ll be offering pioneering conceptual artist Sarah Meyohas’ Bitchcoin, which is unique tokenized blockchain art Meyohas originally released in 2015, years before the art world at large fully embraced the format. The auction house is offering 5 bundles of 480 Bitchcoins total, and each of the coins will be linked to individual rose petals from the artist’s 2017 project Cloud of Petals."

Wonder how that went - will check it out.

I bought a pottery wheel this week - will be able to make all kinds of tokens, pots, platters, and other stores of value soon. 

Took my first pottery class in a long time too and it's like riding a bike! Once I got my hands dirty and lightened the touch, I made three pots in two hours. Now see if they survive the kiln...
See the ball, be the ball. - Ty Webb
 
User avatar
tagoma
Posts: 18790
Joined: February 21st, 2010, 12:58 pm

Re: End of bitcoin?

July 13th, 2021, 9:32 am

 
User avatar
Alan
Topic Author
Posts: 10714
Joined: December 19th, 2001, 4:01 am
Location: California
Contact:

Re: End of bitcoin?

July 15th, 2021, 7:25 pm

OK, place your bets, bitcoin skeptics. When will BTC-USD next fall through $30,000? 
(At time of this post, it's $31,600 at Coinbase.com)
 
User avatar
tagoma
Posts: 18790
Joined: February 21st, 2010, 12:58 pm

Re: End of bitcoin?

July 15th, 2021, 7:31 pm

It's meant to be tomorrow.
 
User avatar
Alan
Topic Author
Posts: 10714
Joined: December 19th, 2001, 4:01 am
Location: California
Contact:

Re: End of bitcoin?

July 16th, 2021, 3:12 pm

Interesting to see the aggregate BTC hash rate dropping significantly over the last few months, as China closes miners.
Apparently, a lot of the mining is moving to Kazakhstan and Texas, among other places.
 
User avatar
tagoma
Posts: 18790
Joined: February 21st, 2010, 12:58 pm

Re: End of bitcoin?

July 16th, 2021, 7:59 pm

"A lot of mining" is coming to the US Cathie Wood declared on CNBC (that I recommend although Kudlow is not with them any longer), where electricity is green (oh babe, yes!) she argued and making BTC attractive from an ESG standpoint which I didn't see coming to be honest. This supported BTC, crushing my high-precision 30K floor hitting time forecast. SO BTC trading.