The Bitcoin topic that Wd40 wanted :)

[Max Headroom]

One shitcoin, in the most efficient mining operations, consumes about 155,000 kilowatt hours (kWh). The average home miner will expend about 266,000 kWh to produce one bitcoin. By comparison, the average US home uses a bit under 1000 kWh per month.

My energy costs in Texas are about 15 cents per kWh. At that rate, one bitcoin has an electrical cost of $23,250 for an efficient operator, and $39,900 for the solo operator. And that doesn't count the equipment costs.

They probably pay less for electricity than us residential stiffs, further screwing the average family.

[Strong Eagle]

Given that the entire state government in Texas is infested with corrupt, hard right, MAGA republicans, reelected year after year by ignorant rubes who don't care that they are shooting themselves in the head by continually voting for these criminals, you're probably right.

One shitcoin, in the most efficient mining operations, consumes about 155,000 kilowatt hours (kWh). The average home miner will expend about 266,000 kWh to produce one bitcoin. By comparison, the average US home uses a bit under 1000 kWh per month.

My energy costs in Texas are about 15 cents per kWh. At that rate, one bitcoin has an electrical cost of $23,250 for an efficient operator, and $39,900 for the solo operator. And that doesn't count the equipment costs.

They probably pay less for electricity than us residential stiffs, further screwing the average family.

[Strong Eagle]

And why the hell is Blackrock "investing" in the equivalent of the Dutch tulip craze? Because they think that they are going to make a shitpot of money off the stupid rubes that continue to drive the price up.

Just because a company of questionable ethics, like Blackrock, invests in shitcoin, doesn't change the fundamentals... it's a ponzi scheme that relies 100 percent on the greater fool theory to keep propping up the price. That is a fact, no matter who has stuck their finger in the pie.

Here's what the CEO of Blackrock (the largest money manager in the world) thinks about this speculative shitcoin.

[tiktok]

So how much have you shorted?

Unlike tulips, bitcoin does have real value as non-sovereign, predictably minted currency. So not a fair comparison.

[malcontent]

Any CEO is going to talk up whatever it is they are selling, and BTC ETF is the flavor of the month. But I totally disagree that it is a store of value, or that it has any real value. It is more like pure vapor… a virtual speculative construct that just happens to have enough speculators to keep it going, for now.

[Strong Eagle]

So how much have you shorted?

Unlike tulips, bitcoin does have real value as non-sovereign, predictably minted currency. So not a fair comparison.

Bitcoin has no predictable value. I can "predictably mint", using blockchain algorithms, organic dogshit, each serialized and unable to be duplicated, but when I get through with it, I still end up with dogshit that is worth nothing except what someone will pay for it. And that is Bitcoin... it has no intrinsic value, no matter how it is produced.

You seem to be confusing blockchain security with value. Who cares if there are only a finite amount of them that cannot be duplicated? They are still not worth anything except for speculation... just like Ted Williams baseball cards.

[tiktok]

And what's a bank note worth?

Again, how much have you shorted?

[Max Headroom]

Crickets.

[Strong Eagle]

Crickets.

[oliverhen]

Bitcoin's potential in Singapore aligns with FinTech ambitions. Despite varied public sentiment, education and integration efforts could drive adoption. Awareness is key to navigating regulatory challenges and maximizing benefits.

[tiktok]

Good old chat GPT, keeping this forum alive.

[malcontent]

And what's a bank note worth?

Again, how much have you shorted?

Going short or long on crypto is still speculating, and the underlying asset is still vapor. Speculative bubbles can last a long time, so I wouldn’t take either side of that bet.

I also wouldn’t claim that fiat currency has any real underlying value either. Likewise, I don’t speculate in currencies and try to minimize cash holdings.

That said, I wouldn’t put crypto and currencies in the same category due to the differences in speculation, volatility, widespread adoption/usage, sovereign backing, long history, etc, etc.

[Max Headroom]

And what's a bank note worth?

Again, how much have you shorted?

Going short or long on crypto is still speculating, and the underlying asset is still vapor. Speculative bubbles can last a long time, so I wouldn’t take either side of that bet.

I also wouldn’t claim that fiat currency has any real underlying value either. Likewise, I don’t speculate in currencies and try to minimize cash holdings.

That said, I wouldn’t put crypto and currencies in the same category due to the differences in speculation, volatility, widespread adoption/usage, sovereign backing, long history, etc, etc.

Bro, you accidentally left out inflation, too big to fail banks, buy-outs, buy-ins, zero-bound interest rates, the Cantillon effect etc, etc.

But it's ok, I've added them hereby

[malcontent]

And what's a bank note worth?

Again, how much have you shorted?

Going short or long on crypto is still speculating, and the underlying asset is still vapor. Speculative bubbles can last a long time, so I wouldn’t take either side of that bet.

I also wouldn’t claim that fiat currency has any real underlying value either. Likewise, I don’t speculate in currencies and try to minimize cash holdings.

That said, I wouldn’t put crypto and currencies in the same category due to the differences in speculation, volatility, widespread adoption/usage, sovereign backing, long history, etc, etc.

Bro, you accidentally left out inflation, too big to fail banks, buy-outs, buy-ins, zero-bound interest rates, the Cantillon effect etc, etc.

But it's ok, I've added them hereby

These are risks at the periphery and only impact short-term valuations and purchasing power, but should not be a driver of any decision. The smart investor is seeking the highest risk adjusted returns. What those investments might be denominated in does not define the underlying value, it’s just a translation. The same cannot be said for BTC.

[Strong Eagle]

An interesting read about Bitcoin in Wired... the bottom line, it's only "value" is what buyers think it is. There are no fundamentals which can be used to price shitcoin.

https://www.wired.com/story/bitcoin-pri ... economics/