Bitcoins - about to hit $5,000 per coin today!

[Griffith]

The wealthiest 1% of Americans, who really control politics, are all fine. They have money off-shore, tax effective structures, etc.

But the level below that top 1%, the top 20% upper/high middleclass. They will get hit hard. Smart politics by Biden - keep the masses happy, keep the elite happy.

Sounds like the approach in South Africa, give the impoverished masses some crumbs so they keep voting for the ruling party, but stay poor enough and reliant, while hitting the shrinking and already over-taxed middle class the hardest, the top 1% are not affected.

[Mayday]

The wealthiest 1% of Americans, who really control politics, are all fine. They have money off-shore, tax effective structures, etc.

But the level below that top 1%, the top 20% upper/high middleclass. They will get hit hard. Smart politics by Biden - keep the masses happy, keep the elite happy.

Weimar Germany the wealthy loved the printing post WWI because they became disgustingly wealthy.

Why leave when you become so wealthy? Oh yeah, can’t buy food anymore because nobody wants to pay the wages to workers.....

While the printing went on, Productivity dropped like a rock under a deflationary wage spiral which is what caused all the food and goods shortages. Middle class and poor crushed followed by raiding the wealthy who had to flee to save their lives.


Hey I need to message you at some point to discuss some offshore stuff.

[Bindare_Dundat]

I didn’t think this was US driven today because it’s in Asian hours when I am operating.

In previous attacks they have been around 1am my time and it’s US. Very rarely do I see Asia hours attacks.l but it happens.

Don’t forget China just shutdown their mining and then dumped coins on exchanges to trigger this wave. Then their govt comes out to say they will look into BTC as future investment, a couple of days later a huge attack during Asia hours......

Gib?  You are in Hong Kong or something yeah? Thoughts?

What attack are you referring to?

[FitnessFrenzy]

what is going on with crypto right now? it is a blood bath

[Bindare_Dundat]

what is going on with crypto right now? it is a blood bath

No idea,  some say the purposed taxes but the taxes don't affect the world so not sure why its dumping this badly.

[Thin Lizzy]

No idea,  some say the purposed taxes but the taxes don't affect the world so not sure why its dumping this badly.

Because it’s a Pump and Dump.

[keanu]

what is going on with crypto right now? it is a blood bath

   Crypto has gone up several thousand percent in some cases, it is going to come down hard in the short term .

[Thin Lizzy]

   Crypto has gone up several thousand percent in some cases, it is going to come down hard in the short term .

But the greater public only got on board recently. Most of the people who bought this year are currently holding the bag.

[keanu]

But the greater public only got on board recently. Most of the people who bought this year are currently holding the bag.

FOMO happened just like it did earlier for growth stocks. The biggest gains happen during FOMO but once the herd is in and things have gone up too fast you inevitably get the fall. Very hard to time. It started over the weekend, and has gone fast. I sold out yesterday . It has been a life changing year. Whether it goes up or down from here, the gain for less that a year was 10-15 years worth of gains.

[Mayday]

What attack are you referring to?

What I wrote.

When a country turns off it’s BTC mining, crushes the hash rate and dumps 9,000 coins on exchanges to crash the price, what would you call it?

This is infrastructure manipulation, not just a dumping of coins to manipulate price.

We were at 65k surging like a mofos and they turned it off....... This is what China do. I know of a number of infrastructure attacks in my country done by China which were successful but just labelled as outages of whatever fault (I won’t disclose what).


The other news getting around is just extra FUD that sent it down further and made it worse.

This just so happens to have taken place days after PayPal CEO told congress they needed to adopt Bitcoin to prevent China using it as a weapon.

[Bindare_Dundat]

I'm in a leveraged long since 47.8. Fuck it. Lol

[Bindare_Dundat]

What I wrote.

When a country turns off it’s BTC mining, crushes the hash rate and dumps 9,000 coins on exchanges to crash the price, what would you call it?

This is infrastructure manipulation, not just a dumping of coins to manipulate price.

We were at 65k surging like a mofos and they turned it off....... This is what China do. I know of a number of infrastructure attacks in my country done by China which were successful but just labelled as outages of whatever fault (I won’t disclose what).


The other news getting around is just extra FUD that sent it down further and made it worse.

This just so happens to have taken place days after PayPal CEO told congress they needed to adopt Bitcoin to prevent China using it as a weapon.

Where did you hear about China being the source of dumping 9000 coins? And the China mining thing means nothing.

 turning off miners does fuck all to BTC .. doesnt affect it what so ever.

It just means theres less opportunity to solve a block from China

The only threat mining has is that if someone owns more than 51% then is hypothetically possible to manipulate the block.. the problem with that scenario is that if someone does the rest of the network would not only know but it would destroy its value... Meaning the millions in infrastructure and equipment would be worthless. So nobody really wants to do that.. its the mutually assured destruction theory in POW

[Bindare_Dundat]

I'm.on a crypto protest.

I won't stop deadlifting until you assholes get the btc price back up to 64k


Eye of tiger! Let's go!

[Mayday]

Where did you hear about China being the source of dumping 9000 coins? And the China mining thing means nothing.

 turning off miners does fuck all to BTC .. doesnt affect it what so ever.

It just means theres less opportunity to solve a block from China

The only threat mining has is that if someone owns more than 51% then is hypothetically possible to manipulate the block.. the problem with that scenario is that if someone does the rest of the network would not only know but it would destroy its value... Meaning the millions in infrastructure and equipment would be worthless. So nobody really wants to do that.. its the mutually assured destruction theory in POW

Price follows hash rate.

Turning off mining (or blackout) drops the hash rate and crashes the price.

It’s all good, I’m just looking at stuff from different angles. Hope we get back on track in the next 10 days!

[Bindare_Dundat]

Price follows hash rate.

Turning off mining (or blackout) drops the hash rate and crashes the price.

It’s all good, I’m just looking at stuff from different angles. Hope we get back on track in the next 10 days!

Yeah, lm immune to all this shit. Been here before and lived. This won't be any different. Just need time .

[Gitur]

blah blah blah been here before stop crying things will pump again, this is what happens when nobody works and everyone is stuck at home lol

[obsidian]

https://finance.yahoo.com/news/no-ethereum-killers-while-says-055419013.html

As Ethereum (ETH) gas fees continue to escalate, there has been a migration to faster networks, but none of them have been able to “kill ETH” yet, according to Weiss Crypto.

Market analysis and risk rating firm Weiss Crypto has reported that Ethereum has made a solid recovery from the fourth market correction in the current cycle.

At the time of writing, ETH was trading up 4.3% on the day, topping $2,400 again and just 5.7% off its all-time high (ATH). Bitcoin (BTC), conversely, was heading in the opposite direction, dropping 3.6% on the day and trading at $53,750, 17% down from its ATH. Weiss commented:

    “This show of strength from the number two cryptocurrency is very assuring for this current altcoin season and is an extremely bullish sign of things to come for alternative crypto investments. We’re doubling down on our call for altcoin season now.”

No ETH killers

The ratings firm also asserts that there will be no “Ethereum killers” for some time, despite the emergence of a large number of rival blockchains that are faster and cheaper to use.

In a tweet on April 21, Weiss stated that it was “highly skeptical” about other Layer 1 networks catching up to Ethereum:

“Some say that other L1s are “catching up to ETH,” but we’re highly skeptical. It’s the same story from 2017 where wannabe $ETH killers sacrificed all semblance of decentralization to be cheaper and faster.”

The firm added that many of these rivals do not hold a candle to Ethereum, and the only hope for some of these alternatives is to become a sidechain to ETH.

Weiss commented that Ethereum rivaling blockchains launched or hyped during the previous cycle, such as EOS and NEO, have not lived up to their claims of being able to “kill ETH.”

The largest rival to Ethereum at the moment is Binance Smart Chain (BSC) and even that began to show signs of strain under the increased demand this week. The network’s top DEX PancakeSwap commented that BSC was “overloaded,” following complaints from users regarding failed transactions and errors.

According to researchers at SIMETRI, BSC could go the same way as EOS as building larger “pipes” for faster transactions doesn’t necessarily solve the scalability issues. BSC has already been questioned over its validator centralization and without storage, computing, and availability upgrades it may eventually go the way of all the Ethereum killers before it.

Ethereum gets an A-

Weiss currently ranks ETH overall as A-, which is what it also gives to Bitcoin. Its closes competitor in terms of ranking by the company is Cardano (ADA) which gets a B- for technology and adoption. Polkadot (DOT), which could be considered as a serious contender to rival Ethereum, comes in with a C+, according to Weiss.

[obsidian]

Yeah, lm immune to all this shit. Been here before and lived. This won't be any different. Just need time .

Are you buying the dip?

[obsidian]

Price follows hash rate.

Turning off mining (or blackout) drops the hash rate and crashes the price.

It’s all good, I’m just looking at stuff from different angles. Hope we get back on track in the next 10 days!

My ETH mining yields picked up the past week. The 2 weeks prior to that were not as good. I have over 1.5 Gh/s of hash rate now spread throughout the house. Another nice development is that used graphics cards are now selling for premium prices. I might be able to sell them for what I paid new 3 years ago! I saw one guy on Ebay selling just a 3090 retail box with manual for $250 without the card lol! Good power supplies, motherboards and mining rig cases are also commanding good prices since there is a huge shortage and high demand for equipment.

I have two RTX 3090s and one has almost paid for itself already mining Ethereum the past 5-6 months. One 3090 does not mine 24/7 because I sometimes use the computer. But it is actually quite usable while mining. I can watch multiple 4K youtube videos @ 60fps while it is mining Ethereum! The hash rate might drop from 120 Mh/s down to 95-98 Mh/s but that's still impressive. For reference a 1080 ti currently maxes out at about 46-48 Mh/s and a 1070ti 33.5 Mh/s without any other computational loads like playing videos etc. There's 1000 Mh/s in 1 Gh/s.

[SOMEPARTS]

FOMO happened just like it did earlier for growth stocks. The biggest gains happen during FOMO but once the herd is in and things have gone up too fast you inevitably get the fall. Very hard to time. It started over the weekend, and has gone fast. I sold out yesterday . It has been a life changing year. Whether it goes up or down from here, the gain for less that a year was 10-15 years worth of gains.

Smartest person in here, haha.

[SOMEPARTS]

Gib watching ETH vs precious BTC ratio.

[Griffith]

Gib watching ETH vs precious BTC ratio.

 

[Bindare_Dundat]

Are you buying the dip?

I'm gonna give it a bit.more.time and see how the momentum goes but I will be filling up.my bags more for sure if its positive.

I'm still on my long trade. Yoohoo

Take profits on the way up guys.

Eth still hasnt even broken its up trend yet. even after this dump. lol wow

[Mayday]

Bitboy just tweeted someone bought 1B.

Any ideas who that might be or is he talking sheeeeit?

Long wicks on these dumps so someone is buying it up hard.

I have the wick floor estimate at 45.6k but I can’t see a day close below a 48k price. Too much buying pressure right now.

[OneMoreRep]

Bitboy just tweeted someone bought 1B.

Any ideas who that might be or is he talking sheeeeit?

Long wicks on these dumps so someone is buying it up hard.

I have the wick floor estimate at 45.6k but I can’t see a day close below a 48k price. Too much buying pressure right now.

Likely full of shit, but if someone did, likely institutional traders or someone like Musk.

"1"