I'm watching next time there is major tariff mention on social media/elsewhere, hint of any tension... if market reacts, bitcoin will follow and seems to lag market (briefly), I expect this to be a repeating pattern with how the market is reacting. I haven't looked at mining stocks for easier version of a short, but I heard people trading crypto on leverage got wrecked when they were on the wrong side. https://finance.yahoo.com/news/trader-made-160-million-shorting-183109978.html Pro Crypto/BTC people, I'm not saying it's crashing or whatever so don't worry ... I just like playing quick positions (especially on stock options). I don't need a long term window when I can quickly flip 30-100%+ with how fast things are moving. With that said I don't know if I'd double down if I got that payout, hahah
that’s an interesting thought. There is a group who have garnered a large amount of wealth who then have had the opportunity to then leverage that newly “acquired” wealth into other technology related avenues- who then again invested in similar technology related platforms, who then invested in other similarly related technology parallels. Round and round we go, it seems.
This what I've been saying. Bitcoin mining allows new and larger energy sources to be harvested. Bitcoin mining's flexibility and responsiveness allows that energy to be put to use where and when the demand appears for whatever reason (in this case AI). Bitcoin is the key to growing and stabilizing the energy grid across the world.
sorry, there was a article from Yahoo finance last night which I thought the video was about. My takeaway was that bitcoin was at risk because the large miners were going to become more profitable AI data centers. https://finance.yahoo.com/news/bitc...vot-to-ai-sends-stocks-soaring-150018229.html
Mining and Ai compute are two different things that require different hardware. It's not as simple as just "stop mining btc and start producing Ai cat pictures". The point is that the mining operation enables the energy production that is needed for Ai to work at scale. Often times miners themselves are in the energy infrastructure business (vertical integration), so when bitcoin price or energy supply dips or Ai demand spikes, they can pivot and stay profitable.
Just don't use yahoo as a new source. Yes, big miners have been switching over to data centers for awhile now. Its been posted here a few times. Imagine if these bitcoin mining companies didn't jump start the energy generation businesses. Current AI data centers are chasing electrons: There is simply not enough energy generation for AI chipset demand. Poor energy policies, especially in California and New York, have had negative effects to our country. AI data centers will pay a premium for electrons. Bitcoin can't. Bitcoin miners are chasing silicon: Cheap and abundant energy sources are less of a problem for bitcoin miners but the supply/demand curve for silicone is a bigger problem for miners. Bitcoin miners can not afford to pay premium prices for the mining equipment. Bitcoin miners can go almost anywhere in the world. AI datacenters at stuck at whatever location they choose.
@RC Cola I figured this would be of interest to you because I believe it's one of the key criticisms you had, re: Bitcoin's primary operating software being run/maintained by just a handful of people (i.e. Core). Core pushed out a busted version of their node software without proper consensus (due to corruption and cronyism within the dev team) and they're now losing market share rapidly.
Bitcoin is pseudonymous. With certain tools and/or procedures it can be effectively anonymous. As for chain forensics, courts have rightly found them to be unreliable at best. That being said, occasionally some really stupid criminals use blockchain and do not cover their asses and get popped which is always good for a laugh.
In other news, scientist discovered water is wet. Bitcoin has been around just shy of 17 years, and self proclaimed highly intelligent people still do not understand the very basic concepts of a blockchain. But they have lots of opinions they view as facts on the subject
Most criminals are not very intelligent, thus why they choose the life of crime. Thus why they would use Bitcoin and not cash.
Every time someone posts something like this in this thread its a nice reminder of how truly early we are. Things we've known for 10+ years still being posted as if they're novel. Still plenty of room on the lifeboat/rocketship. The tumult from this burgeoning soft fork is going to be a great buying opportunity for the brave, same as it was in 2017 during the block size wars.
I have had several people over the last year tell me that they invest in bitcoin since it is anonymous and free of government oversight. These people are likely not criminals and are just casual investors. FWIW these same people also invest in gold.
People investing in something they don't understand. Classic. They're all probably going to panic sell early next year and so at least they can write off that loss to Uncle Sam who undoubtedly knows everything about their Bitcoin activity.
Cyber criminals use Bitcoin/crypto because it allows for crimes not possible with cash, not because they think it provides anonymity. I didn't watch the video from that link, but the write-up touches on this: No use in caring about anonymity if there's no risk in getting caught. Having said that, any (non cyber?) criminals that are using crypto to buy (small?) amounts of drugs, weapons, etc within the US (or similar region)...probably not so smart. Definitely better off using cash, prepaid gift cards, etc., though maybe crypto is better than some other methods. To your point...probably smarter *not* to crime...at least in these ways. But if you're going to do dumb crime stuff, you'll probably do dumb stuff in other ways. Yeah there are some weird misconceptions about crypto = anonymity, and sure you can get close to that if you really worked on it. But I think in truth people are seeing all these major cyber criminals using crypto, and since they're (seemingly) not getting punished, they think it must be because it provides anonymity.
