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Bitcoin In Thailand


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I can’t find the link now, but another article said the Bitcoin Harvesting facility busted in the UK used £16,000 worth of stolen Electricity to harvest £8,000 worth of Bitcoin. 

No wonder they didn’t do it from home hehe. 

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Bitcoin retreated price wise for a few months and is now coming back. Mining uses up a lot of power. My guess is that technology will fix that issue if it grows. Solar? Wind? whatever. It's a problem waiting to be solved. 

Be that as it may, those that bought cryptos anytime before January is making out like a bandit and even if you bought at the previous run up (December 2017) at almost 20k and held it you are still well over 100%. 

If Stone soup kept even 1 of his coins judging from 2014 prices he's made out very good. No one is talking about that. He was right. And I hope he posts. Anyone know his whereabouts?

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Whilst I accept the cost of Wind and Solar is slightly less than fossil fuels and is still falling I bet you haven’t seen a reduction is your utilities bills.

Domt hold your breath waiting for prices to fall, more than likely to rise due to the “Green Turriff” 

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You know I'm a sceptic, on any kind of bitcoin, and whilst you fellows are correct when you say, they've taken off and there's money to be made, this is also the rationale behind stocks.

At least in the old days you got a bit of paper, with some printed words on it, to signify that the stock was 'something'.

The derivatives market, that let to the last economic crash was people selling debt. I got no debt :: I have no worth.

Now we also see NFTs and like the influencers, if one or three people, can persuade someone to part with a huge sum of money for an NFT, everyone will say 'see? value! true!'

Now that I've had more thoughts on this general topic, the 'tell' I feel, is that all of these things are measured in money. Not anything else.

Whilst some have managed to almost, mainstream, the 'coins', when the world's financial systems, finally get around to disavowing the coins, there'll be a lot of money lost and the establishment will be able to say,  'see - criminals, not good honest banks...'

Now if these 'coins' were measured in, lithesome nubile ladies, there might be some interest from this quarter.

There following NFT is for sale at $23,580,350.00 USD





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Most investors in cryptocurrency will lose money

Sam Stubbs  Oct 12 2021

OPINION: As someone who’s seen many investment fads, I think most retail investors will lose money from cryptocurrencies.

It is gambling, not investing. And, like gambling, only a few insiders will win.

Simplicity has recently become an indirect investor in a local cryptocurrency exchange called Easy Crypto, via an Icehouse Ventures fund we are invested in.

We insist our suppliers have an approach to ethical investing consistent with ours, but this is a good example of how different groups can reach different conclusions.

Easy Crypto is a local success story, professionally run by people who passionately believe in the power of crypto to change the world.

And because it facilitates the buying and selling of crypto, investing in it is legitimising the industry. You might not invest in drugs directly, but if you own shops that sell them, you’re invested in the drug trade.

So is crypto unethical? It is debatable. We have four areas of concern.

The first ethical concern is how bad cryptocurrency is for the environment.

Nobody knows for sure how much power is used to create, or mine, crypto. Estimates range from the amount of power used by Finland, to that used by Brazil.

An authoritative source, the University of Cambridge Bitcoin Electricity Consumption Index, calculates total consumption at over 80 GwH, or the equivalent of 23 coal-fired power stations.

That is a huge amount of power for relatively few crypto users and miners.

Because cryptocurrencies require so much coal to be burnt to ‘mine’ them, they are contributing to global carbon emissions. One estimate says crypto mining has the annual equivalent power requirements of a large country.
And the more people that mine crypto, the more power is required.

It currently costs between US$7000 to US$11,000 of electricity to mine one bitcoin.

But because they sell for much more, there is every incentive to carry on mining and pay the power costs.

The Cambridge study says 39 per cent of crypto uses at least some coal-fired electricity, with the combined carbon footprint of London.

Some crypto operators claim they only use renewable energy, although these claims have been challenged.

But even if it’s true, it ignores the obvious consequence: the renewable power they use is unavailable to others, which forces the burning of more fossil fuels.

Eating vegetables doesn’t make you a virtuous vegan, if it forces others to eat meat.

And an often overlooked consequence of all the computing power required to mine crypto is the e-waste.

E-waste recycling around the world is patchy at best.

The ever-increasing computing power required means hardware usually needs replacing every 18 months. It is too rarely re-used, or re-cycled.

The second concern is it exploits the poor.

In spite of assertions that crypto banks the unbanked, there is very little evidence to substantiate this.

I have travelled enough in the Third World to know that crypto features nowhere in daily transactions, and cannot be used for essential financial services.

Fourteen years after the internet and mobile phones were invented, they were a viable method of accessing real world financial services. In contrast, 14 years after crypto was invented, almost no-one is using it to transact anything useful.

Instead, crypto offers the poor in the Third World (and here) the allure of getting rich quick by investing their hard-won savings.

But in reality, is crypto just another form of gambling?

And if most ethical investors won’t invest in gambling, why is investing in crypto ethical?

Another virtue signal from crypto investors it’s that it's building a better financial infrastructure. This is a very dubious claim. Better infrastructure is provided by the internet and blockchain, neither of which are exclusive to crypto.

The third concern is it harbours illegal activity.

The crypto world was designed to operate outside regulation and the law, so it’s a natural place to hide and launder the proceeds of crime.

Some negate this by saying how little illegal money there is in crypto. But due to its untraceable nature, this is merely an assertion.

Logically, the un-traceable and un-taxable nature of crypto means it is highly likely to be a magnet for criminals.

And defenders say because criminals also use cash for laundering, crypto is no worse.

But two wrongs make a right, and cash used for crime is traceable. By it’s very nature, crypto is not.

And if taxes are the price of civil society, anything designed to hide wealth and avoid tax is, ipso facto, ethically questionable.

The fourth concern is how crypto thrives on ignorance and greed.

I first became concerned about the ethics of crypto when, on the same day, two Uber drivers told me they were ‘in’ crypto, and asked me which one to buy.

Neither had any real idea what they were investing in. They both used get rich quick, FOMO-fuelled language.

FOMO is the “fear of missing out”.

And the marketing used by the crypto industry is hardly reassuring. Many use language very similar to pay day lenders.

At best, crypto is ethically challenged. At worst, it could be environmentally toxic, exploitative, fostering criminal activity and thriving on ignorance and greed. Ethical investors take note.

And when it comes to the motivation of greed, I will leave the last word to the world’s best investor, Warren Buffett.

“Be fearful when others are greedy, and greedy when others are fearful”.




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Who writes this shit?

80GW equivalent to 23 Coal fired Power Plants

First if you state the output without time It is stated per annum not per hour, this is a per hour figure.

80GW / 23 = approx 3.5 GW per station, on average a Coal Power Station is 2x600MW = 1.2GW which would equal 67 stations

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2 hours ago, Mekong said:

Who writes this shit?

80GW equivalent to 23 Coal fired Power Plants

First if you state the output without time It is stated per annum not per hour, this is a per hour figure.

80GW / 23 = approx 3.5 GW per station, on average a Coal Power Station is 2x600MW = 1.2GW which would equal 67 stations

Who?  -  Sam Stubbs  - https://simplicity.kiwi/about-us/our-team/

drop him a line :)



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Most investors who trade stocks lose money, most people who open a restaurant go out of business within a few years. Crypto is still the best thing out there for the little guy to make decent money. You dont trade bitcoin, you buy and hold it, it has always gone up...eventually...significantly. The orginator of this thread is likely a multi millionaire in any currency you like and if he reads this thread is having a nice laugh. 

Cryptos has the most skeptics for those over 40 or 50 and creates a lot of wealth for those below it. The big boys are in it, they just aren't saying it. You dont have a trillion dollar market cap just by the masses, its from billions invested in it from the big banks, the 1 percent. 

What do they know that you don't? 

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