Perp funding rates deep red. Have to go back to middle of last year to find that. Shorts more than willing to pay long traders. If I had to guess, I'd say some gamma action and a violent upmove. Also consider publicly listed BTC miners (MARA, RIOT) are rocking RSI's under 30. Way overdone. ⤴️
If you are interested in investing in the bitcoin miners here is the content you want. Ive been purchasing long term calls in RIOT MARA and HUT for the last 18 months. First RIOT option was when it was $2, its been an amazing run. Now I'm adding BITF
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> pick different BTC related ones like COIN or MARA? Yeah OP, sell your absolute dog shit stock and buy even bigger dog shit. Are you serious? If so, you may want to consider the fact that you’re on track to never retire.
It doesn't matter if the miners in 1 place don't do a transaction. It gets put in the next block. They tried it with MARA. It doesn't work. It also SIGNIFICANTLY affects your chances of winning a block. As you need to scan and rearrange the block before another miner solves it. It might take 40 minutes instead of 10 for your transaction not a big deal.
Exactly. That's what BTC maxis have been doing for the longest time. You gotta find exit liquidity otherwise you're the dumb one. Their (shillers, pseudoanalysts and other influencers) "data science" is either simple multiplication or extrapolating from 2 data points ffs. Let's look at absolutely best case scenario - even if you went all in during Dec '18 bottom or during covid double bottom, you got only 20x if you sold absolute top. MARA went from 1.5 buck to over 80 dollars. So even tradfi was a better (and much safer) choice during printing era than BTC. When it comes to shillers, you gotta ask only one question - if they knew what they were talking about, why they're on YouTube shilling their paid sub group instead of fking smoking hot models on their private yacht. Answer is simple: you can have 0 idea about markets as long as you have that sweet steady cash flow from your paid group thanks to dumb retail. And some of these guys are cashing like a million per month from subs alone. I wonder what the next pivot will be since all narratives failed. Especially with 0 blockspace demand, network security is doomed after next 2 halvings. But you won't hear about that from maxis.
Dao are a fund that are an assortment of tokens for different uses. With things being decentralized, there isn't 1 thing to invest in. You kind of pick an aspect and find a conglomerate of that aspect. Like mining.. you invest in mining companies, like MARA. The token, you pick out single ones, an etf or a dao. Each smart contract is an ecosystem. So by investing in a smart contract like eth or ada, you are betting on the backbone. The thing that will rocket ada or eth isn't the coin itself.. it will be a service or app on the chain. Like suddenly someone makes an app everyone uses.. and it uses eth or it uses ada.
There are 2 values. The utility and the price. If you are in it for price, its like any asset. Its like investing in visa. Will they get bigger? Will american express pass them? Will they go out of business? Utility you dont care about price. You also don't just make 1 big buy. You buy it the whole way down. As an example with a stock. I bought 10 MARA at $35. It went to $15. I bought 30 more. I sold at $33. So I entered at the wrong time.. but kept buying and profited below my initial buying price.
What i don’t understand is the stock MARA.. i get it, not crypto per say, but its a mining company. MARA has followed BTC price to a T for the 2 years ive invested.. but today was different. BTC is down ~3ish grand but somehow MARA is up, a little, today? Normally MARA would have dropped $2-3, but its not following its normally trajectory. Anyone know why?
Any tickets in mind? There’s a lot of BTC mining companies like RIOT MARA are the big ones and many more smaller ones. But BTC mining is getting more difficult with time so idk if the BTC they hold will offset the cost of the increased mining difficulties
[Oh really?](https://www.coindesk.com/tech/2021/05/07/marathon-miners-have-started-censoring-bitcoin-transactions-heres-what-that-means/) *Marathon Digital Holdings’ (MARA) new mining pool has mined a bitcoin block that is “fully compliant with U.S. regulations,” meaning the company has started excluding transactions from entities it believes are sanctioned by the U.S. Department of Treasury or have been involved in dark web activity* *The blacklist is based on information provided by the U.S. Department of the Treasury and Office of Foreign Assets Control, databases of OFAC restricted cryptocurrency addresses, as well as other sources including the dark web*
The White House has floated the possibility of limiting or eliminating the proof-of-work mechanism that underpins Bitcoin BTCUSD +10.19% and its blockchain network—a move that would strike a blow at the heart of the digital asset economy. The White House Office of Science and Technology Policy recommended in a report Friday that greenhouse gas emissions and other environmental impacts stemming from crypto “mining” should be limited. The team called for standards for low energy intensities, low water usage, low noise generation, clear energy usage by operators, and standards over carbon-free generation to match or exceed electricity load that tighten over time. “Should these measures prove ineffective at reducing impacts, the Administration should explore executive actions, and Congress might consider legislation, to limit or eliminate the use of high energy intensity consensus mechanisms for crypto-asset mining,” the White House said in a statement. Bitcoin relies on what is known as a proof-of-work mechanism to secure its network and validate transactions on the blockchain. Proof-of-work relies on crypto “miners” that use computers to solve complex puzzles, expending vast amounts of energy. The news did little to immediately impact Bitcoin prices. The largest digital asset has rallied 10% over the past 24 hours amid a positive shift in investor sentiment toward cryptos and other risk-sensitive assets. Crypto miners were also immediately unaffected by the news, with shares in Marathon Digital (ticker: MARA) and Riot Blockchain RIOT +10.12% (RIOT) up 10% and 9% in U.S. premarket trading, respectively. Write to Jack Denton at email@example.com
You can always use the stock options of heavily Bitcoin invested publicly traded companies because they usually go up and down with Bitcoin. Microstrategy is a good one thanks to Michael Saylor. Also there are publicly traded options for Bitcoin mining companies like MARA and RIOT. \-I would not recommend using Robinhood though. They turn off buttons when you start winning too much.
This is obviously bad but the same thing will have to be done by any miner /validator if there is regulatory pressure. As of now, OFAC has sanctioned a bunch of addresses but there is no clear communication that miners will have to stop processing blocks that have transactions from the sanctioned addresses. Despite that, Ethermine have by their own accord decided to stop processing TC transactions. One of the top BTC miners had earlier done the same for Bitcoin too: https://www.coindesk.com/tech/2021/05/07/marathon-miners-have-started-censoring-bitcoin-transactions-heres-what-that-means/ > Marathon Digital Holdings’ (MARA) new mining pool has mined a bitcoin block that is “fully compliant with U.S. regulations,” meaning the company has started excluding transactions from entities it believes are sanctioned by the U.S. Department of Treasury or have been involved in dark web activity. >The Marathon OFAC pool, which was first announced in late March, “refrains from processing transactions from those listed on the U.S. Department of Treasury’s Specially Designated Nationals and Blocked Persons List (SDN)” to stay “compliant with U.S. regulatory standards,” according to the company. If there is regulatory pressure, US based miners/validators/block producers will HAVE to resort to this, unless they want to be on the dock for violating sanctions law, which is no good for US based entities.
https://i.imgur.com/WitFyi0.jpg https://i.imgur.com/yGEAqQw.png 💀💀💀 $MARA Bitcoin Miner is seriously HODLing right now for a couple of months while slowly bankrupting themselves. They do not have their Bitcoin Miners turned on and moving to a different state. No revenue generated at all to save themselves right now.💀💀💀
Is this the same council that's going to lead the push for OFAC compliant mining pools, and govt regulations forcing miners to comply? This is a censorship trainwreck in the works; which MARA already made the first pass at last year; but that no one seems to notice or care about.
Terawulf has links to Beowulf; an energy company. Beowulf actually has a contract with MARA and helped them with energy before they became a huge mining company. Looks like they are repeating MARA’s success but doing it cleaner, larger and better for themselves. $1.40 a share; won’t be surprised to see it hit over $100 a share in the next couple of years once they have fully operational green energy facilities.
G) my story is kinda weird and you will not like it. got into crypto 2011 when a friend was supposed to send me money from thailand. it was actually the best option back then, so i received 140$ish in BTC, which i then spent over the next couple of months on drugs via silkroad. since the price was pumping back then I got at least 2k$ of drugs for my BTC until i ran out. even with that increase in price, it never occured to me to see it as an investment. i just kept buying BTC when i needed them on the darknet. fun fact: one time i bought 0.8 BTC (100$) for a friend of mine and deleted the receiving wallet by accident. upon undeleting it it was corrupted. since it was only worth $100, i didnt put much work into trying to restore it and just bought again for double the amount :). then, 2017, a former coworker got me into crypto when it was already daily breaking the news with new ATHs. i bought a couple of altcoins and went from 1500$ initial investment to 15k$ in 2 months. I also tried to restore my corrupted walled that i had stashed away on a hdd, but the pywallet script didnt work on it since the file was corrupt. in the end, i only cashed out a few thousand and proceeded to lose the rest trying to short crypto on crypto exchanges. why short? after 2 months of studidity, i read enough on buttcoin and from david gerard to realize how fucking stupid crypto is and started to despise it. i continued to short crypto when i got some new investment money (around 15k). after losing a couple of k from that i felt really bad about it and didnt want to tell my wife, and thought "what if there just was a way to refill that money without her noticing" thats when i thought about that old corrupt wallet file again. i opened it in a binary editor, and comparing it to a healthy wallet file pretty much immediately saw that the keys should be recoverable, since the corrupt part of the file was not where the keys were. over the next 3 nights i copy/pasted individual keys from the corrupt wallet into the healthy one, feeling increasingly stupid, thinking that if anyone could see what the fuck im doing here he would surely think me mad. on the 3rd day, all of a sudden, electroneum showed a balance of over 1.6 BTC, or 86k$ (back in november). what the fuck. THE FUCKING IRONY. i proceeded to cash out every last cent from BTC and its forks as fast as i could, and after giving away 5k$ to a good friend i put the rest into two investment accounts - one to keep secret from my wife, so that if anything went wrong with the first one, i could always refill, allowing me to play far riskier than i would if she knew about all of the money. then i told her we got 40k$ from lost crypto. since november, i shorted crypto (via vontobel mini shorts, not via crypto exchanges, which i will never touch again) and crypto companies (MSTR, COIN, MARA, RIOT - via puts), and up until now i doubled my money. it could easily be more tbh, but i got cought on the wrong side of trades many times, and tried to time the market too much, also I was vary of overleveraging myself for the first few months, after being burnt so often shorting crypto, and only invested a smaller percentage of my portfolio into crypto shorts. right now im sitting on a comfy 200k investment account, half of which is my secret, and most of which is directly or indirectly shorting crypto. i hope to be able to retire once BTC goes to zero where it belongs.
In the late stages of a money printing bubble, energy prices rise fast. Just like now with natural gas and oil going up. However, crypto rises early in the money printing bubble just like in 2020. If these crypto miners still have a lot of cryptos on their balance sheet, it would be logical for them to sell enough to at least keep the miner running. Just look at MARA and RIOT. Biggest crypto mining stocks. Horrible stock price action. This implies these guys are dealing with sky high energy prices and low crypto prices.
This is a more rational way to look at it. But yea if the stock market is red crypto is red . I have doing well shorting BtC mining company I once loved to be long on. I am definitely looking into opening a big position on MARA and RIOT
Everybody here thinking Buttcoin dwellers just like to watch the world burn. In reality most are just sick of obnoxious crypto bros constantly trying to scam us in all corners of life and the internet, happy that this will finally quiet them down for a while. Many of us are also heavily invested in shorts and puts on crypto exposed securities. There is a lot of money to be made from the scammers as the scam collapses. While you’re sitting here waiting for Boobfart420ElonMoondick coin to take off, meanwhile puts on COIN, MSTR, SQ, MARA, RIOT have been printing….
That's fine. I'm saying there should be honest discussion about the possibility of people here, you included, being wrong about btc. I haven't insulted anyone, I'm not gloating here (you can look through my history to find when I said I started shorting RIOT, MARA, COIN, and when I sold off all my btc). And I don't know the future either. I'm still short COIN...and if there was a good way to short BTC I still would today, but the BITO type products have always traded at a heavy discount from btc price, the pot odds suck on them. If RIOT/MARA climb back up enough I'll short them again too. I'm literally telling people here to increase their skepticism. I've yet to hear a proper response to "what has to happen for btc to hit your target price of 100k or whatever". It involves hand waving bitcoin into becoming the dominant currency or something. And somehow losing over 60% of its value in less than a year will make that more likely? It can go down another 50%. From today, people here can still lose more of their money.
Folks I am sorry if I ever come off as condescending, I am genuinely just trying to share the best information I have. Sometimes it sucks when you lay some useful opinions out and people just laugh at you or ignore you, and it can take a big person not to say "i told you so". Fair reminder ETH dropped from like $1800 to like $90 in a not-so-long period and recovered fine. It'll rise again, maybe sooner, maybe later then we think. Watch closely what the fed does, this is all tied to them going more hawkish or dovish. Once inflation cools, they are going to start pumping money again. they have to. Just takes a recession to get inflation to cool. I don't think this recession will last long, but who knows what dominoes fall next. Anyway, I'm personally not buying anything until I hear from the fed over the next months. And when I do buy, I like MARA a lot. They will be situated well, assuming BTC doesn't stay below 30k for the next 3 years. I'm expecting a rough 6 months, but things should be better after that.
You would need to learn how to run a business, laws, and taxes for you to understand MARA, or any other business entities actions. It's called a business wire off/ operating costs. You'll need to earn a business degree at an accredited college for you to understand. I cannot explain all of this to you.
The price is irrelevant when your mining it. It costs MARA the same amount of money to mine whether it's $1 or $1,000,000. They only pay the electricity costs. We already covered this 10 paragraphs ago. We're just going around in circles now. I cannot continue this conversation. It no longer supports productivity.
Just because the current price is down means nothing to them. They still have the same amount if BTC. They're not selling at a loss. Nobody is. This is how poor people think. "Sell at a loss, salvage what you have left, get out quick!" Rookie mistakes. This happens everyday, over and over and over again. Old experienced smart guy just sits and waits for the market to come back. He probably plays sudoku or something. Maybe chess. If you can't handle price fluctuations than investing in anything is not for you. Don't buy MARA stock if you don't believe the company will succeed. It's simple.
>There were about 200m in liquidations today. We are not really moving up any more when the broader markets pump. Why is that? Why crypto sentiment would be different than stock market one? How can you explain that stocks like $MSTR, MARA or $COIN went up big (+5%) and at the same time crypto itself goes down?
Just realized whoever group or individual is currently holding the majority of Bitcoins controls the US Stock Market price of at least 20+ Bitcoin Mining Stocks, Exchanges & Bitcoin ETFs… $MSTR, $COIN, $MARA, $BITO, $RIOT, $SQ, $BTF… especially at such a critical level of support, the future market is in their hands.
All of the Bitcoin Mining Stocks are returning their stock price back to penny stocks (and most of them have filed for offering with a cost of hundreds of millions of dollars to fund their mining gears. Example: $MARA with their $750,000,000 ($750 MILLION!) Offering! Insane. The stock price is now at $9, and Puts will not print as much. Shorting the Bitcoin Mining Stocks are now much more profitable on the flipside than buying Puts printing. All Bitcoin Mining Stocks will literally go bankrupt once Bitcoin free-falls below $20,000 because the cost of operation far outweighs the revenue of mining Bitcoins commercially as a business model. Those Bitcoin mining companies will be forced or extremely pressured to sell all their Bitcoin holdings to save their company from filing for bankruptcy.
Houses are a terrible idea unless you have a family, specific school, and longterm job/business you're targeting in a specific county. You'll find that taxes, repairs, special assessments, insurance, and a mortgage add up quickly. And now rates are rapidly rising. You buy more bitcoin. The house will depreciate over time against its deflation. You'll be sitting in your new 30 year debt sentence miserable. In 2019 I convinced a friend to buy the house with $50k down payment instead of BTC. He had twins on the way and family business nearby. The neighborhood was in a full upswing, $10T hadn't been printed, and in the end, his house doubled from 450k to 900k. It outperformed BTC for what he invested. He sold it, pocketed the original 50 and is now renting. The profit is going into miners (MARA, RIOR, CORZ) and BTC.
> Rusty Russel pointed out scaling issues based on payment routing having to map the network with data potentially too large to process. Seemed to attempt to get ~1m nodes to do testing for improvements, knowing that 1m nodes would make it "die horribly" So unoptimized code in a couple LN node implementations mean LN can't scale? Is there any actual hardware reason you think LN can't scale to a million nodes? >Thats good, but dont you still have to settle channels on the main chain eventuly? Am I making a dumb mistake by calculating that bitcoin takes roughly an entire year to process a single transaction for everyone on the planet? Dont you have to fund your thingy too...? I linked the paper. Please take a look at it. The entire point of it is that you won't make an individual transaction to open a channel yourself, but you will pool these requests with thousands of people, also giving you liquidity in your cohort. I feel like you aren't even trying to look at the solutions for the problems you are bringing up, you just want them to be unsolved, even when a solution has clearly been found. >Not valued lower, they should be valued the same. Why? >Higher price for newly mined coins implies fungibility issues How does the price influence the fungibility? >bitcoins can be tainted but are treated the same on the protocol which causes issues that I will describe below Open a LN channel, spend from there. The recepient literally doesn't know what on chain TX sent that transaction. >"Marathon Digital Holdings’ (MARA) new mining pool has mined a bitcoin block that is “fully compliant with U.S. regulations,” meaning the company has started excluding transactions from entities it believes are sanctioned by the U.S. Department of Treasury or have been involved in dark web activity." That's like saying "if all miners were controlled by the US government, the network wouldn't be decentralized anymore". Duh! The miners not following shitty KYC rules will include higher fee transactions, have better margins, and ultimately push the regulated miners out of business, if that ever becomes a problem. >More everyday examples include a christian school denying tuition payment because the student donated to an lgbt org any random persons wallet balance being tainted because they were sent money that was at one point from a ransomware attack, hospital charging higher medical bill because they see the patient is rich, you transact to anything attached to you and you can be targeted for assault. Oh no, a people that didn't use the privacy features of a cryptocurrency didn't have privacy? What a travesty. Next time use LN. >It may be difficult now (maybe not idk), but would you trust that such tools wont become a thing in the future? routing is extremely hard and requires knowledge of the network topology, is knowing whos connection to whom, where funds are, and on which nodes not the type of info you need to try and deanonymize? sounds quite fundamental to the network unfortunately. Actually tracking transactions by trying to discover balances of channels, and seeing the difference in time is pretty much impossible. The amount of knowledge you get about the network topology is pretty small, and all of the proposed attacks I've seen have been awfully ignorant of the limitations. You might get the knowledge that a channel used to have X inbound liquidity, and now it has Y inbound liquidity, but knowing exactly who the recepient and the source of the payment was, is next to impossible. This is obviously why it hasn't happened yet, even though a lot of people claim it can be done. >coinbase transactions are intentionally transparent, allowing anyone to verify the range proofs for every transaction and find the exact sum Yeah, but if an issue with the code appears, the only moment you'll realize is when the price will dump, and it will be too late to revert any transactions. At the end of the day, there's pretty much no reason to have privacy on L1 if you can have it just as well on L2, and also have supply auditability. >How about ASICs first? its incredibly hard and requires a large investment for any regular person to start mining for a profit. What is incredibly hard about it? What's the large investment? Do you think the only way to profitabily mine is to have a warehouse full of miners? > Consumers cant vote on protocol changes because any meaningful hash is usually out of reach. If you think miners can unilaterally push changes to the protocol, without the approval of the nodes, which can be run on extremely cheap consumer hardware, you have no idea how Bitcoin works. >I have to mention ASICs are incredibly wasteful in both hardware and electricity It's only a waste if you don't value the end result, that being a peer to peer decentralized, global, open system of value transfer. >moneros approach to making consumer cpus the only viable option greatly reduces electricity cost when adjusted for same network security Yeah sure, using hardware that can be easily captured through a botnet through computer malware, with a huge amount of untapped computers that could be infected is definitely a lot more secure. >with p2pool, centralized mining pools are a thing of the past for monero if you though centralized mining pools are a problem you might not really understand how they work.| >Adapting the cryptocurrency to new technology Just because you don't follow the developments in Bitcoin and LN, doesn't mean they aren't happening >or hardware (blocksize...) I though all reasonable people agreed in 2017-2018 that "just make node go big" isn't an actual scaling solution, and that cryptocurrencies like Solana have showed this again and again. For some reason people like to keep making this dogshit argument. >Why not with Monero? Because bloating L1 with privacy, when it can be done on L2, only makes the protocol needlessly complicated. >Monero could easily be in the same spot bitcoin is right now But it isn't. You can try to make arguments that it's because Bitcoin has the first player advantage, or that it's because of regulation, or that people are just too stupid to see the genious of Monero, and they will sooner or later come to your side. I hope some day you will see through this delusion. >simply being the only good payment option (fungibility is needed for that) Let's stop pretending LN doesn't exist, can we?
>(ln) That has never been a problem. I'm not sure what you are talking about. Rusty Russel pointed out scaling issues based on payment routing having to map the network with data potentially too large to process. Seemed to attempt to get ~1m nodes to do testing for improvements, knowing that 1m nodes would make it "die horribly". I cant be bothered to follow LN, great if it works, but there are bigger things to talk about. >(tps) Channel factories fix this Thats good, but dont you still have to settle channels on the main chain eventuly? Am I making a dumb mistake by calculating that bitcoin takes roughly an entire year to process a single transaction for everyone on the planet? Dont you have to fund your thingy too...? >How would Bitcoin work as cash when newly mined coins are valued lower and lower? Who would mine? Not valued lower, they should be valued the same. Higher price for newly mined coins implies fungibility issues, bitcoins can be tainted but are treated the same on the protocol which causes issues that I will describe below. >(discrimination) Literally any proof for this conspiracy level take? "Marathon Digital Holdings’ (MARA) new mining pool has mined a bitcoin block that is “fully compliant with U.S. regulations,” meaning the company has started excluding transactions from entities it believes are sanctioned by the U.S. Department of Treasury or have been involved in dark web activity." https://www.coindesk.com/tech/2021/05/07/marathon-miners-have-started-censoring-bitcoin-transactions-heres-what-that-means/ Its no secret that payment processors and exchanges block transactions they deem "suspicious", though I will provide a source if you need lol. More everyday examples include a christian school denying tuition payment because the student donated to an lgbt org, any random persons wallet balance being tainted because they were sent money that was at one point from a ransomware attack, hospital charging higher medical bill because they see the patient is rich, you transact to anything attached to you and you can be targeted for assault. None of this should be possible, cash doesnt have this privacy flaw, banks dont have this privacy flaw, I can't fathom revealing my bank transactions of every amount, time, and receiver, to everyone I know and those I dont. >You can't see any purchase I've made through Lightning. It may be difficult now (maybe not idk), but would you trust that such tools wont become a thing in the future? routing is extremely hard and requires knowledge of the network topology, is knowing whos connection to whom, where funds are, and on which nodes not the type of info you need to try and deanonymize? sounds quite fundamental to the network unfortunately. These are ultimately settled on non-private layer 1 too... whole process is better than nothing ig. >But you know what transparency on L1 brings? Auditability of supply. If a bug ever sneaks it's way into Monero which causes an unwanted inflation of supply, it could be hidden for years coinbase transactions are intentionally transparent, allowing anyone to verify the range proofs for every transaction and find the exact sum (nodes do this auto for every transaction). range proofs are quite simple in comparison to the rest of the protocol, but no audit or scrutiny by government agencies is flawless, so people have to trust what their using whether it be bitcoin or anything else. >You have only brought up issues that either didn't exist, or that have been fixed by LN. How about ASICs first? its incredibly hard and requires a large investment for any regular person to start mining for a profit. ASIC companies and the companies that use them have almost total control over the network. Consumers cant vote on protocol changes because any meaningful hash is usually out of reach. I have to mention ASICs are incredibly wasteful in both hardware and electricity, moneros approach to making consumer cpus the only viable option greatly reduces electricity cost when adjusted for same network security, not wasteful because theyre generic cpus thar anyone can use for anything, and it costs no investment to start mining for a profit or "vote" as a node. with p2pool, centralized mining pools are a thing of the past for monero. >Keep up with what? Adapting the cryptocurrency to new technology or hardware (blocksize...) >The brightest minds in crypto are still working on Bitcoin and LN. Welp neither of us can really confirm or deny that. Why not with Monero? seems to be the only other crypto besides bitcoin that cares about bitcoins original purpose. Monero could easily be in the same spot bitcoin is right now and there would be no competition between #1 and #2, actual use cases like darknet and simply being the only good payment option (fungibility is needed for that).
I predict Bitcoin trading sideways until this Friday at 3 PM after Options expire for Bitcoin ETFs. Then, massive unexpected drops over the weekend. Dead Cat Bounce, but only a few times. Look at $MARA Bitcoin Mining Stock. I believe a similar behavioral pattern as $MARA currently happening and what it just went through an a-once-unbreakable $20 Support Price Level.
I absolutely am putting my money where my mouth is. ~30% of my portfolio is in MSTR and MARA/RIOT short positions through a combination of pure shorts and put options. I think the crypto environment we are in is a direct consequence of easy money FED policy after the financial crisis. BTC has produced outsized gains (beating companies like AAPL and TSLA) over the past ten years, and those outsized gains have not reflected real productivity in literally anyway. Happy to be wrong. It’s not personal. We position ourselves the best way we see fit. This is how I see things playing out. Crypto may have future bull runs, but I don’t think we will ever see ATHs again. Similar to the dot com bubble.
This is not newsworthy. First 2 sentences: “One of the largest publicly traded bitcoin miners and “hodlers” of the coins it mines, Marathon Digital (MARA), said that it may consider to sell some of it’s bitcoins, but unlikely to do it in the near-future. “We may purchase or sell bitcoin in future periods as needed for treasury management or general corporate purposes,” Marathon CFO Hugh Gallagher said during an earnings conference call.” As much as they’d love to hold onto their coins, they’re probably trying to grow their mining capacity or pay off loans. It’s part of the business. Cost to produce coins is still way below market price, still very healthy margins.
>Now there are much more big playrs in the game and the production of btc has halved. 50% is alot and imo it wont go down so much as people think it will. Agreed. Also miners have moved from China to North America (USA, Canada). The Chinesse miners were selling all the time but the american ones are holding. Many of them are public traded companies like $MARA, $BITF, $HIVE, etc. so they finance themselves on the stock market (by issuing shares to investors) instead of selling their Bitcoins.
Anyone else into mining stocks? As with other tech stocks they've crashed pretty hard recently, falling significantly from their 6-month ATHs in November. RIOT and MARA are down by \~70%, and the smaller miners even more so. I have a small exposure to each mining firm. I'd rather just own actual bitcoin, but some of my money is locked in tax sheltered accounts and the UK has banned bitcoin-related financial derivatives.