Are members invested in Bitcoin/crypto?

NoName · Jun 29, 2022

Cannot trust bitcoin or wallstreet!
They are there for their own benefit,not ours!!

blubarb · Jun 30, 2022

Not bitcoin but Saitama and Shib Inu, just a small amount. Enough to say I am "invested" in crypto. 😁

Tony C. · Jul 2, 2022

A good overview of why Bitcoin proponents so badly want an ETF, and why it isn't likely to happen, at least anytime soon. Click the link below to read the full (Doomberg) thread.

https://threadreaderapp.com/thread/1543176087110311936.html

Vercingetorix · Jul 12, 2022

Apparently the victims can get counseling.
https://www.theguardian.com/technol...ned-by-the-crypto-crash?CMP=oth_b-aplnews_d-1

In May, jobless and broke, Roy checked into Castle Craig, one of the only centres in the world that treats cryptocurrency addiction. (He lost his job when he relapsed; his rehab fees are covered by medical insurance.) His cryptocurrency portfolio is worth about €300. Now, amid the incongruous grandeur of a Scottish stately home, he is attempting to rebuild his life – and quieten the tormenting thought that he should have pulled out his money when he had the chance.

keepschanging · Jul 12, 2022

Bourne1984
Is that the Chinese coffee company?
Is that where the moneys at??

There's plenty of DD available online. I'm up over 60% since December, 13% since I posted above.

Scarecrow Boat · Aug 2, 2022

https://www.bbc.com/news/uk-wales-62381682

"Almost 10 years ago James Howells threw away a hard drive during a clear out - forgetting about the Bitcoin on it.

Now, with the Bitcoin worth an estimated £150m ($184m), he is planning to spend millions digging up a Newport landfill in a bid to find the lost hard drive. ...."

Jerseyhammer · Aug 2, 2022

Archer · Aug 2, 2022

Scarecrow Boat
https://www.bbc.com/news/uk-wales-62381682

"Almost 10 years ago James Howells threw away a hard drive during a clear out - forgetting about the Bitcoin on it.

Now, with the Bitcoin worth an estimated £150m ($184m), he is planning to spend millions digging up a Newport landfill in a bid to find the lost hard drive. ...."

This sounds as if nothing has changed, and the municipality still isn't letting him dig. This story pops up every few months it seems.

Speaking of crypto news, was on the local news site and saw this:

Had a chuckle at the unfortunate advert placement...😁

BarbVl · Aug 2, 2022

I am wondering if the Bitcoin has a feature with the price of the energy go up worldwide and from my knowledge the all network it's based on mining which consume a very high amount of energy..

Walrus · Aug 16, 2022

I think most has been said here. In the end like everything else some people like crypto some people dislike or even hate it and probably most are indifferent. I guess it’s like everything else in life.

But I was looking at eth and I’m curious after the merge, when it becomes 90% more energy efficient and the changes in fundamentals will it pass the Howey test and be a security? One can easily find articles saying it will and articles where it won’t. Even if not every box in the Howey test is checked doesn’t guarantee it’s not going to be a security. That’s a 231 billion dollar market cap that could take a serious hit as where would it go?

I don’t think any of us have the answer but reading both sides of the argument I can see the rationale in both. As far as Bitcoin goes it’s significantly down from it’s all time high but I think it was 10 years ago it reached parity with the USD. No one ever thought that would happen. Seems to be bouncing around 23k-24k now. But really I’m just curious if any eth holders have looked at or are concerned about it being a security. If you don’t like ethereum that’s cool.

Twocats · Aug 17, 2022

Walrus
I think most has been said here. In the end like everything else some people like crypto some people dislike or even hate it and probably most are indifferent. I guess it’s like everything else in life.

But I was looking at eth and I’m curious after the merge, when it becomes 90% more energy efficient and the changes in fundamentals will it pass the Howey test and be a security? One can easily find articles saying it will and articles where it won’t. Even if not every box in the Howey test is checked doesn’t guarantee it’s not going to be a security. That’s a 231 billion dollar market cap that could take a serious hit as where would it go?

I don’t think any of us have the answer but reading both sides of the argument I can see the rationale in both. As far as Bitcoin goes it’s significantly down from it’s all time high but I think it was 10 years ago it reached parity with the USD. No one ever thought that would happen. Seems to be bouncing around 23k-24k now. But really I’m just curious if any eth holders have looked at or are concerned about it being a security. If you don’t like ethereum that’s cool.

ETH has been given the "Non-Security" blessing of the former SEC director Mr. Hinman in the now famous speech that was and was not his personal opinion all at the same time. There is a very interesting battle going on between XRP and the SEC where this speech and the emails in the build up to it were to be released but the SEC is turning itself inside out to avoid this at all costs. There are people who are saying this will only happen post ETH 2.0 but its all rumours. Either way I am betting on XRP to win (read settle) and be deemed a non security. This legal case is critically important for the whole crypto world as it may well become the modern crypto equivalent of the Howey test.

Walrus · Aug 17, 2022

Twocats
ETH has been given the "Non-Security" blessing of the former SEC director Mr. Hinman in the now famous speech that was and was not his personal opinion all at the same time. There is a very interesting battle going on between XRP and the SEC where this speech and the emails in the build up to it were to be released but the SEC is turning itself inside out to avoid this at all costs. There are people who are saying this will only happen post ETH 2.0 but its all rumours. Either way I am betting on XRP to win (read settle) and be deemed a non security. This legal case is critically important for the whole crypto world as it may well become the modern crypto equivalent of the Howey test.

Ah good point I did not equate the XRP “battle” into this as I debated with myself.

Twocats · Aug 17, 2022

Walrus
Ah good point I did not equate the XRP “battle” into this as I debated with myself.

If XRP win then I believe ETH will be ok, if not it will be open season. XRP and ETH can coexist easily especially considering the XRP main focus is to work in tandem with SWIFT.

Observer · Aug 17, 2022

I think the security vs not a security question is primarily a debate over which US govt agency gets to be the one who regulates these coins and tokens. The best way to predict the future in this field is probably to answer the question of what benefits Goldman Sachs.

Walrus · Aug 17, 2022

Observer
I think the security vs not a security question is primarily a debate over which US govt agency gets to be the one who regulates these coins and tokens. The best way to predict the future in this field is probably to answer the question of what benefits Goldman Sachs.

When you really look at it eth more closely checked the securities boxes when it was sent out premined as an “investment to make money” with a third party directly in control. Excuse me I may have the verbiage incorrect in the howley check as I just got home and I’m a bit run down. Really any of these premined VC coins could check the boxes but once decentralization is “complete” it gets murky. It does seem some in senate and Congress are behind giving crypto a chance, I’m not against reasonable regulation to protect people from the numerous scams ive seen. But I’m at the mercy of others here as my staked eth (validator) won’t be available till 2023 technically my apy should increase after the merge (tentatively 15 Sept but that could change) In a way it’s good though as it will force me to stick to my word of riding this out. Hero or zero. Glad I left some out though in case my diamond hands give out.

Vercingetorix · Aug 17, 2022

Here’s all you need to know. Mining equipment at the pawnshop.

Walrus · Aug 17, 2022

Vercingetorix

Here’s all you need to know. Mining equipment at the pawnshop.

Yup I’m seeing a lot online lately though people do mine whatever available to convert but eth is messing up a lot of peoples mining plans. They are planning that hard fork leading the charge is that Chinese miner and a few other “crypto geniuses” but they are already saying they themselves think it will fail.
I messed around mining litecoin early on I think it was a couple bucks at the time had I stuck with it who knows but I have a litecoin curse as I lost some then I thought I could time it perfectly trading and become a gazillion air but none of that worked out. I’m glad I tried it but it was a dual venture with a friend and trying to calculate energy costs and upgrades gets tricky when you are just messing around to see if you can do it. It actually might have worked out had we devoted more time and thought to it as at the time it was only a couple bucks tbh I don’t even remember if we broke even it was the trading that ruined any hope of that.

Twocats · Aug 18, 2022

Vercingetorix

Here’s all you need to know. Mining equipment at the pawnshop.

Once ETH 2.0 converts to proof of stake all of this equipment will become the crypto equivalent of Betamax with only Bitcoin using proof of work.

As for the comments of @Observer, the only change I would make to you statement is to change GMS to JP Morgan.

Walrus · Aug 18, 2022

Twocats
Once ETH 2.0 converts to proof of stake all of this equipment will become the crypto equivalent of Betamax with only Bitcoin using proof of work.

As for the comments of @Observer, the only change I would make to you statement is to change GMS to JP Morgan.

There are still a lot of mineable coins, what I hear from the most part is people mine whatever they can and convert to btc although it looks like that ethereum classic is going to benefit from eth going green. I really don’t know much about it as I just stick to the “blue chips” but the gaggle of crypto guys I visit down the road to that and are still hitting hit pretty large with speculation on the latest hype coins.

Observer · Aug 18, 2022

Twocats
Once ETH 2.0 converts to proof of stake all of this equipment will become the crypto equivalent of Betamax with only Bitcoin using proof of work.

As for the comments of @Observer, the only change I would make to you statement is to change GMS to JP Morgan.

No argument. I mentioned the Vampire Squid in reference to Gensler , Muchin, Robert Rubin, Hank Paulson, Gary Cohn, etc., etc., ad infinitum.