20's seems good but not going to catch a falling knife. See where it consolidates. Also waiting for starry-eyed friends to start hating on it.
IT BEGINS !!
- Thread starter SilverSale
- Start date
20's seems good but not going to catch a falling knife. See where it consolidates. Also waiting for starry-eyed friends to start hating on it.
Polar.bear.Stacker
Well-Known Member
I've heard all sorts of things about support and death crosses and whatever, sure I regret not cashing out some gains in April but that's life. I bought gold at the peak in april last year and got screwed as well lol.
Can I get people's opinion on this btw?
Fundamentals.
Willy Woo has discussed this sort of thing before, the average investor is better HODLing than trying to pick tops or bottoms, especially in the cryptosphere where prices react to FUD and FOMO. They're very difficult things to plan for.
Just keep dollar cost averaging.
Polar.bear.Stacker
Well-Known Member
Yeah that's what I'm doing, I don't really understand why bitcoin is so affected by what China does. I mean the mining power will just move elsewhere, and the market just moves underground
Can anyone point me in the direction or an option on best place to buy and hold crypto ?
Was recommended crypto.com but had a look at the reviews and they don’t seem too crash hot , was told coin spot was too expensive .
Cheers only putting in some beer money for my 16 year old son to have a play around with
TIA
also pm me if you have any referral codes for us both to use
Was recommended crypto.com but had a look at the reviews and they don’t seem too crash hot , was told coin spot was too expensive .
Cheers only putting in some beer money for my 16 year old son to have a play around with
TIA
also pm me if you have any referral codes for us both to use
https://www.entrepreneur.com/article/375134
China's Bitcoin Miners Head to Texas and Florida: Report
Beijing's harsh crackdown on the Bitcoin industry has triggered what's being dubbed "the great mining migration."
June 21, 2021 2 min read
Opinions expressed by Entrepreneur contributors are their own.
China has been home to 60% to 75% of the world’s Bitcoin mining in recent years, the energy-intensive process that makes new coins and keeps a running tally of all transactions on existing cryptocurrencies.
But in May, the government restricted mining and trading, prompting an exodus of miners to states like Texas and Florida, according to CNBC. The Lone Star State’s abundance of solar and wind power, deregulated power market and pro-crypto political stance make it a perfect destination, says Brandon Arvanaghi, a former security engineer at crypto exchange Gemini.
“Texas not only has the cheapest electricity in the U.S. but some of the cheapest in the globe...[and] governors like Greg Abbott in Texas … are promoting mining.”
Miami Mayor Francis Suarez says he’s also looking to lower energy costs with the hopes of attracting bitcoin miners.
Easiest to use something that has an app associated with it. I dabbled with Binance but wouldn't recommend you use them at all.
This move is more important than the El Salvador hype.
https://cryptonews.com.au/best-crypto-exchanges-australia
https://cryptonews.com.au/where-to-safely-store-your-bitcoins-alt-coins
There's more guides and reviews on that site.
Polar.bear.Stacker
Well-Known Member
Why?
Because the El Salvadoran thing is just a stunt that won't have any benefits for Salvadorans or for the national economy. On the other hand US states incentivising BTC miners to establish facilities in the US can offer political stability and access to power in return for investment and revenue that could be used to fund government policy initiatives. Also it lessens the grip China has on the hash rate and the continual China FUD.
TreasureHunter
Well-Known Member
Or it ends? Almost the entire press is talking about the end of Bitcoin.
That's nothing new.: https://99bitcoins.com/bitcoin-obituaries/
Polar.bear.Stacker
Well-Known Member
That's good, buy btc for cheap
holdandown
Active Member
For one thing, Chinese design & manufacture the highest performing bitcoin miners and the way that scene tends to work is that they run those systems mining for themselves until their next generation hardware is ready, after which they sell off their legacy tech systems into the free-market for the rest of the world to squeeze the last bit of life out of.
That's how they maintain a competitive advantage when it comes to bitcoin mining.
Should the engineers & businesses involved move out of China and to Texas & Florida or wherever, then advantage goes to whoever are included in their circles.
Another factor would be that there'd be a ton of Chinese money and holdings in the bitcoin scene, so whatever the authorities there do has an effect on the overall market.
Can remember Texas power outage in the cold
it will be repeated before the turn on the miners lol , shut down to be extended lol
TreasureHunter
Well-Known Member
It might go to 100,000 $. And with inflation and currency wars, it might even reach 1 million $.
Risk on comes at you fast? 
https://www.bloomberg.com/news/arti...-3-6-billion-in-bitcoin?srnd=cryptocurrencies
--
On 13 April, chief operating officer Ameer Cajee wrote to Africrypt clients announcing the firm had halted operations because of a hack.
"Our system, client accounts, client wallets and nodes were all compromised," he wrote.
The letter advised investors not to pursue the "legal route" as that would "only delay the recovery process".
Some of the investors who lost access to their money are represented by law firm Hanekom Attorneys.
The law firm said Bitcoin valued at $3.6bn had been "dissipated in its entirety", in a complaint sent to an elite South African police unit, known as the Hawks.
The investigation into where the bitcoins went had been hampered by the use of "various dark web tumblers and mixers", the law firm wrote.
That refers to technologies that can make it harder to trace bitcoins.
The law firm said its analysis led it to believe that describing this as a hack was "misplaced".
--
Lawyer John Oosthuizen, who represents Raees and Ameer Cajee, told the BBC the brothers "categorically denied" they had been involved in a "heist" or had absconded with funds.
"There is no foundation to the accusation and there's no merit to those accusations," he said.
"They maintain that it was a hack, and they were fleeced of these assets," he added.
He declined to confirm the $3.6bn value for the Bitcoin lost, and noted media reports suggesting the value was an overestimate.
Asked by the BBC if the brothers had contacted the police after the alleged hack, Mr Oosthuizen said: "No."
But he added that they were young men aged 18 and 20 with "very little life experience".
He said the brothers had received death threats and their first reaction was to keep themselves and their families safe.
He said his firm was working to prepare a dossier to demonstrate to the authorities that Africrypt had been hacked and the brothers had been the victim of theft.
He said Raees and Ameer Cajee would co-operate with any future inquiries by the authorities.
But at present they had not been notified of any investigation.
https://www.bbc.com/news/technology-57582805
https://www.bloomberg.com/news/arti...-3-6-billion-in-bitcoin?srnd=cryptocurrencies
--
On 13 April, chief operating officer Ameer Cajee wrote to Africrypt clients announcing the firm had halted operations because of a hack.
"Our system, client accounts, client wallets and nodes were all compromised," he wrote.
The letter advised investors not to pursue the "legal route" as that would "only delay the recovery process".
Some of the investors who lost access to their money are represented by law firm Hanekom Attorneys.
The law firm said Bitcoin valued at $3.6bn had been "dissipated in its entirety", in a complaint sent to an elite South African police unit, known as the Hawks.
The investigation into where the bitcoins went had been hampered by the use of "various dark web tumblers and mixers", the law firm wrote.
That refers to technologies that can make it harder to trace bitcoins.
The law firm said its analysis led it to believe that describing this as a hack was "misplaced".
--
Lawyer John Oosthuizen, who represents Raees and Ameer Cajee, told the BBC the brothers "categorically denied" they had been involved in a "heist" or had absconded with funds.
"There is no foundation to the accusation and there's no merit to those accusations," he said.
"They maintain that it was a hack, and they were fleeced of these assets," he added.
He declined to confirm the $3.6bn value for the Bitcoin lost, and noted media reports suggesting the value was an overestimate.
Asked by the BBC if the brothers had contacted the police after the alleged hack, Mr Oosthuizen said: "No."
But he added that they were young men aged 18 and 20 with "very little life experience".
He said the brothers had received death threats and their first reaction was to keep themselves and their families safe.
He said his firm was working to prepare a dossier to demonstrate to the authorities that Africrypt had been hacked and the brothers had been the victim of theft.
He said Raees and Ameer Cajee would co-operate with any future inquiries by the authorities.
But at present they had not been notified of any investigation.
https://www.bbc.com/news/technology-57582805
holdandown
Active Member
As the saying goes, "a fool and his money".
Those two are long gone to go live it large in the Middle East or Asia.
Those two are long gone to go live it large in the Middle East or Asia.