Is the crypto winter over?

[ph1l]

Bitcoin mining is one of most competitive industry wrt cost-efficiency and it forces them to seek out the cheapest most abundant sources of energy and this means renewable energy that would otherwise not have any buyers

Yeah, clean†, renewable‡ coal!
https://worldpopulationreview.com/country-rankings/bitcoin-mining-by-country

Kazakhstan Mines Bitcoin for Coal
Kazakhstan is a bitcoin miner powered by coal as coal is cheap and its power efficiency is driving the bitcoin mining business in the country. It is also home to a desert where 50,000 computers are established in Ekibastuz so that the miners can get it down.

Here, bitcoin miners work 12-hour shifts for two weeks straight until the bitcoin is mined. This is not going to be criminalized any time soon, with Kazakhstan ranking in the world as a leader in this industry.

† https://arnika.org/en/news/kazakhst...e,Organization and Kazakhstan's own standards.
Kazakhstan's air pollution: new study blames dirty industry

‡Bury fiat currency, wait a few million years, and you will get coal.

 

[johnarb]

Yeah, clean†, renewable‡ coal!
https://worldpopulationreview.com/country-rankings/bitcoin-mining-by-country



† https://arnika.org/en/news/kazakhstan-s-air-pollution-new-study-culprits-dirty-industry#:~:text=High levels of sulphur dioxide,Organization and Kazakhstan's own standards.
Kazakhstan's air pollution: new study blames dirty industry

‡Bury fiat currency, wait a few million years, and you will get coal.

Are you from Kazakhstan?

 

[johnarb]

Are you from Kazakhstan?

I didn't get a reply as it looked like a trick question, but it's not

I did not read the articles, only the titles

I wanted to ask 2 follow up questions, 1. Why the Kazakhstan government not stopping this? and 2. There seems to be abundant coal available in Kazakhstan, why is it not being sold or used to produce something more profitable than Bitcoin mining?

The 2nd one is rhetorical, no one wants to buy the coal or there is not enough buyers of the coal or the energy produced from it that is more profitable than selling to the Bitcoin miners as I mentioned on my previous post

Bitcoin miners are paying customers, not leeches or parasites. They setup infrastructure, large data center warehouses, employ a bunch of people, purchase from local suppliers and contractors helping the local economies

But hey, you don't want them, go to the government and complain and kick them out, it happened in NY, they leave where they are not wanted

To be honest, there is too much concentration of hash power in the US, vote to have them kicked out so it can be more decentralized in Russia and China and Kazakhstan

400 Million Trillion Hashes per second of computing power for the security of the Bitcoin network

A lot of capital in hardware and infrastructure and electricity by the Bitcoin miners for the chance to earn some magic internet money, lol

 

[johnarb]

Just got back in long at around 25970. I don't know anything about the macros, but the chart is telling me that this is the time to get long. Carpe diem!!!

Good Uptober Morning from Asia! I woke up 2 hours ago and bitcoin hit $28k, nice green candle today

Are you still long?

It was rough a few weeks ago, I don't blame you if you got stopped out, I almost got liquidated and got out and got in again with a profit, now my latest position in profit

 

[themickey]

Are you still long?

Yup, I bought in this morning, CRYP.AX, crypto ETF @ $2.82.

 

[schizo]

Good Uptober Morning from Asia! I woke up 2 hours ago and bitcoin hit $28k, nice green candle today

Are you still long?

It was rough a few weeks ago, I don't blame you if you got stopped out, I almost got liquidated and got out and got in again with a profit, now my latest position in profit


View attachment 324201

View attachment 324202

Good evening to you from what was once considered the land of great opportunity. You mean this trade that I've posted way back? Yup, still in and I plan to hold it now. Good luck to ya as well.

Just got back in long at around 25970. I don't know anything about the macros, but the chart is telling me that this is the time to get long. Carpe diem!!!

 

[semperfrosty]

LFG lads!!

 

[johnarb]

We gave back most of our gains yesterday...

Still above $27k, tho, not bad

I read that Japan is going to be buying bonds or something like that, intervention ycc. That means money printing liquidity going into the global markets

Might be good for bitcoin price ngu since bitcoin is a global asset it can soak liquidity from anywhere, this happened in the beginning of the year when China was injecting liquidity

LFG!!!

 

[johnarb]

I read that Japan is going to be buying bonds or something like that, intervention ycc. That means money printing liquidity going into the global markets

Might be good for bitcoin price ngu since bitcoin is a global asset it can soak liquidity from anywhere, this happened in the beginning of the year when China was injecting liquidity

Hmmnn, et tu China?

And this is during the most bullish period for bitcoin Oct-Dec

Buckle up! Maybe $50k+ by end of October

https://twitter.com/x/status/1708895357235876012

 

[johnarb]

I've put a couple of positions, Rune and Tellor ($TRB) on leverage (borrow against Btc as collateral)

Just an update, closed my $Trb position, added to my $Rune position, today

Planning to do some yield farming (Liquidity Pool) on $Rune

NFA