Heretic!
The reason for the 5K drop today is....
- Thread starter Pekelo
- Start date
Heretic!
Chinese miners will suss it out, buy a large swathe of land in outback Australia, import Chinese solar panels, and set up house / start mining from Oz using first home buyer tax payer subsidized subsidies.
Register the company overseas and pay no tax.
Chinese miners will suss it out, buy a large swathe of land in outback Australia, import Chinese solar panels, and set up house / start mining from Oz using first home buyer tax payer subsidized subsidies.
Register the company overseas and pay no tax.
STOP THEM!!! Geez can't Australia do anything? Does Australia have armies? Any military power? Does Australia need USA to actually station some troops there?
Yes, any non-human lifeform down there is their military power. Aussieland is safe.
Baron
ET Founder
Ok, let's look at the math.
There are 21 Million total bitcoins to be mined.
There are currently 18.7 Million Bitcoins already mined.
That means that roughly 90% of all Bitcoin has already been mined.
So if China is responsible for 65% of all mined bitcoins and we've only got 10% left to go, all of this China miner crackdown bullshit only affects 65% of the remaining bitcoins to be mined, or in other words, 6.5% of the total bitcoins ever to be mined. And if the Chinese don't mine it, somebody else in a different jurisdiction will.
Yet we are being handed a 50% discount from the high for all prior mined BTC because of the news.
Hmmm...
Buying more BTC now...
There are 21 Million total bitcoins to be mined.
There are currently 18.7 Million Bitcoins already mined.
That means that roughly 90% of all Bitcoin has already been mined.
So if China is responsible for 65% of all mined bitcoins and we've only got 10% left to go, all of this China miner crackdown bullshit only affects 65% of the remaining bitcoins to be mined, or in other words, 6.5% of the total bitcoins ever to be mined. And if the Chinese don't mine it, somebody else in a different jurisdiction will.
Yet we are being handed a 50% discount from the high for all prior mined BTC because of the news.
Hmmm...
Buying more BTC now...
Ok, let's look at the math.
There are 21 Million total bitcoins to be mined.
There are currently 18.7 Million Bitcoins already mined.
That means that roughly 90% of all Bitcoin has already been mined.
So if China is responsible for 65% of all mined bitcoins and we've only got 10% left to go, all of this China miner crackdown bullshit only affects 65% of the remaining bitcoins to be mined, or in other words, 6.5% of the total bitcoins ever to be mined. And if the Chinese don't mine it, somebody else in a different jurisdiction will.
Yet we are being handed a 50% discount from the high for all prior mined BTC because of the news.
Hmmm...
Buying more BTC now...
Assuming numbers (and quantity thesis) are correct, I see no mention of POSSIBLY fewer purchasers/users, dependent on applicable regulation, and enforcement teeth, if any. Just saying POSSIBLE.
Ok, let's look at the math.
There are 21 Million total bitcoins to be mined.
There are currently 18.7 Million Bitcoins already mined.
That means that roughly 90% of all Bitcoin has already been mined.
So if China is responsible for 65% of all mined bitcoins and we've only got 10% left to go, all of this China miner crackdown bullshit only affects 65% of the remaining bitcoins to be mined, or in other words, 6.5% of the total bitcoins ever to be mined. And if the Chinese don't mine it, somebody else in a different jurisdiction will.
Yet we are being handed a 50% discount from the high for all prior mined BTC because of the news.
Hmmm...
Buying more BTC now...
Have you seen this article? You might get a kick out of it...
"... And yes, this is as some have jokingly pointed out, the 1000th time China has tried to ban bitcoin:..."
"...In any case, the news was enough to spark another algo-driven liquidation as the robots apparently have a 15 nanosecond memory and have forgotten that China has said all this and more both a few days ago as well as years ago when it first cracked down on crypto and banned bitcoin and its peers on the mainland..."
https://www.zerohedge.com/markets/cryptos-tumble-after-china-again-vows-crackdown-mining-and-trading