Bitcoin / Bitcoins / Crypto Currency

Done. Expect trading from tomorrow at the NYSE bell.

Big day yesterday.

Thank you. Done with Twitter now. It's been getting worse and worse. The Greenpeace guy I quoted in the story says they get this all the time.

What's happening? I miss twitter. Fucking Musk, the stupid fuck.

https://news.bitcoin.com/new-scientists-bitcoin-ban-article-sparks-backlash-experts-slam-bad-science-and-bias/

Article reads like it's been written by AI. Lidl own-brand AI.

"The article from New Scientist, much like a significant portion of contemporary science, has ignited skepticism regarding how modern scientists and the academic elite have tarnished the reputation of science, attempting to persuade the general public that 2+2 equals 5."

I mean, come on...

The sound I made grumbling under my breath

Mwhbhdnabgrrr

It's live. The trojan horse of internet meme money has been let loose in tradfi HQ.

Tracking electricity consumption from U.S. cryptocurrency mining operations

Electricity demand associated with U.S. cryptocurrency mining operations ... probably represents from 0.6% to 2.3% of U.S. electricity consumption.

Regulation incoming:

EIA to initiate collection of data regarding electricity use by U.S. cryptocurrency miners.

The U.S. Energy Information Administration (EIA) is initiating a provisional survey of electricity consumption information from identified cryptocurrency mining companies operating in the United States.

Beginning next week, EIA will survey identified commercial cryptocurrency miners, which are required to respond with details related to their energy use. The Office of Management and Budget (OMB) authorized the survey on January 26, 2024, as an emergency collection of data request.

Anyone into Ordinals ?

Anyone else notice a complete absence of crypto advertising in the SuperbOwl yesterday?

Do you think it could be Miley Cyrus' retaliation against Vivek Ramaswamy for exposing her plot to rig the Super Bowl?

Jack tried his best

The orange coin has now reached all-time highs in some major currencies (including the yen), and the US ETF trade volume passed 2.4 billy $ yesterday... Feels like stuff's about to get a little bit daft again.

Good to see coinbase spent the bear market putting that ipo money into building a robust exchange that can handle a busy day

Coinbase fails if there more than 5 users on it, same every time the market gets frisky

$72k!

Quite unreal.

https://www.theguardian.com/technology/2024/mar/11/bitcoin-price-70000-in-record-high-cryptocurrency-crypto-fca

Fuck and to think I meant to buy some more on the off chance of another bubble.

Sitting here with my free STRK token. To the moon etc.

It does keep happening though. Presumably there will be another crash soon and again it won't go back down to where it was and rinse repeat.

It's the halving cycle.
Enough people believe it was going to go up after the halving (due next month) that it has started going up before it happens.

300% in 6 months. Wish I had the nerve to gamble!

Lot of rich people getting a lot richer.

The halving effect is really interesting once you consider all of the secondary/tertiary/etc effects and how these filter down and rattle through community.

Miners who are currently making a bit of a profit at price $x/BTC will have to consider whether they can keep going if their return is halved and the price doesn't rise enough to cover it. Obviously if every miner backed out after a halving then the market would be open for someone to continue mining and rake in all of the block bounties, so some use this as an opportunity to stay and some go.

I should probably go look at historic prices, hashrates, etc before/after each of the previous halvings (every ~48 months).