"Blood" coins!!!

Discussion in 'Digital Currencies' started by Jislizard, Apr 14, 2021.

  1. Jislizard

    Jislizard Well-Known Member Silver Stacker

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    https://finance.yahoo.com/news/kevi...t simply, he said, “,demand for “virgin” coin.

    Celebrity investor Kevin O’Leary claims that he is refusing to purchase any bitcoin that has been mined in China.

    On CNBC’s Capital Connection, O’Leary brought up what he considers to be a growing issue with bitcoin.

    First, he highlighted that bitcoin had yet to make any substantial inroads in institutional portfolios. He claims that a growing priority for investors is knowing where their investments are sourced.


    O’Leary explained, “We have covenants around how assets are made, whether carbon is burned, whether human rights are involved, whether it’s made in China. All these issues that have now come to the fore on bitcoin.”

    Put simply, he said, “institutions will not buy [BTC] mined in China, coins that have been mined using coal to burn for electricity, or coins mined in countries with sanctions on them.”

    He said there was now a significant demand for “virgin” coin. O’Leary also said that in the next year or two, distinct classes of coins would emerge; “‘blood coin’ from China, [and] ‘clean coin’ mined sustainably in countries that use hydroelectricity, not coal.”


    ...SNIP...

    The comments on the article say that he is spreading Fear, uncertainty, and doubt (FUD) in order to lower the price so he can buy in cheaper. But are financial institutions going to be subject to regulations to prevent them buying from countries with embargoes? If so, would this limit bitcoin's market to private investors only?
     
  2. LiverBird

    LiverBird Well-Known Member Silver Stacker

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    Kevin O'Leary LOVES the sound of his own voice.
    He's got a very punchable smug face!
     
    Last edited: Apr 14, 2021
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  3. Polar.bear.Stacker

    Polar.bear.Stacker Member

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    I dunno, the issue of humanitarian exploitation existed long before bitcoin mining. Heck, the Perth mint got into some bad pr from sourcing their gold from non humanitarian sources. Historically you have had diamonds, commodities, infrastructure projects built in exploitative ways. It doesn't make it right to say it's fine since it's everywhere, but starting with btc would be hypocritical since a lot of what we use is made and assembled in places with poor humanitarian trackrecords
     
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  4. alor

    alor Well-Known Member Silver Stacker

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    he thinks its an OLIVE head
     
  5. alor

    alor Well-Known Member Silver Stacker

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    Blood shoe come to mind
     
  6. Oddjob

    Oddjob Well-Known Member Silver Stacker

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    How the hell does someone tell if a bitcoin was mined in the PRC. Didn't know program algorithms carried a "Made In...." stamp on them.:D
     
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  7. alor

    alor Well-Known Member Silver Stacker

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    the chain will have the code, just like a dna strings
     
  8. Acorn

    Acorn Active Member

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    A7084E61-0F0A-4206-B499-EA3EE5610648.jpeg
    The Germans have a word for that ...
     
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  9. BuggedOut

    BuggedOut Well-Known Member Silver Stacker

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    What a moron. Does he understand the meaning of the word fungible?
     
  10. alor

    alor Well-Known Member Silver Stacker

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  11. Jason1

    Jason1 Well-Known Member

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    how would he be able to pick an individual coin and where it was mined? obviously couldnt be buying from an exchange, they would be so mixed up. guess he could mine it himself maybe on his chinese made computer lol
     
    Last edited: Apr 14, 2021

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