ragster

FT bearish as usual
“Bitcoin price are at fresh record highs in many currencies. In dollars the cryptocurrency is up more than 40 per cent over the past month. The $69,000 intra day high set in 2021 is within reach. Excitement is being fuelled by the approval of spot exchange traded funds in the US. Expected changes to the way bitcoins are created or “mined” due at the end of April are adding to the frenzy.
The “halving” event which happens about every four years was written into bitcoin code by its creator as a means to enhance scarcity. It means that the number of coins a miner gets as a reward for completing each calculation will fall from 6.25 to 3.125. This mechanically raises the production cost and reduces supply at the same time.
Regardless of whether you believe bitcoin has any real value, prices remain tied to these underlying fundamentals. Opinions on the former are shifting as mainstream adoption grows; some $70bn has flowed into spot bitcoin exchange traded funds since they first went live in January, according to data from The Block. Rising demand from buyers anticipating the next halving explains why crypto bulls now gleefully predict bitcoin prices will soon exceed $100,000.
Look closer and this bullish target seems suspect. The current cost of production — largely the electricity required by computers making the calculations for mining — is currently about $27,000, thinks JPMorgan. This offers a sense of the price floor for bitcoin. Immediately after the halving this will jump short term to around $50,000.
Costs are also a function of the hashrate. This reflects the amount of processing power devoted to mining coins. The higher the hashrate — currently at a record high — the longer it takes to mine each coin. That in turn means higher costs for all involved, offering some comfort to buyers.
Yet, the recent surge has taken bitcoin prices far above the cost of production. For bitcoin in the past that has not been sustainable. Moreover, these costs should start falling shortly after the halving as less efficient miners drop out, unable to keep up. As older machines are retired, the hashrate should fall and with it production costs.
At some point the price rally will lose steam. Assume mining processing power falls by one-fifth then the cost of production will fall correspondingly to around $43,000. That offers a useful guide to where prices might find a floor once the current bout of mania subsides.”

2024-01-20 16:36:50

anywant to redeem some ecash cashu tokens 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

2024-01-19 16:50:36

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2024-01-18 15:35:55

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@npub1tjk…s9w3 are you seeing much adoption or use for Fedimint?

2024-01-17 15:22:29

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How naughty…he sweared on live TV!

2024-01-17 15:18:53

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Sauce?

2024-01-03 21:10:51

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What a tease

2024-01-01 23:29:29

happy New Year

2023-12-29 10:09:13

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https://getfaaans.com/

2023-11-24 10:33:21

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Good luck. I reckon UK is next

2023-11-20 23:00:12

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First time I’ve seen your product. Looks very cool as I assumed there was exchange risk… but no!!

2023-11-07 12:24:14

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Is there anything in the west we can do?

2023-10-24 11:53:49

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I would hope there are ways around the ban

2023-09-25 21:21:29

Wonder if this is any good https://www.bbc.co.uk/iplayer/episode/m001qx1l/panorama-downfall-of-the-crypto-king?page=1

2023-09-05 22:01:34

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Too rich for me!

2023-08-27 12:49:05

Could they use bolt cards instead? Replace tokens with sats and that would be interesting. Fixed costs is 4000 sats a go (£1)
https://m.primal.net/HJyp.jpg

2023-08-11 11:35:03

Please use the sharing tools found via the share button at the top or side of articles. Copying articles to share with others is a breach of FT.com T&Cs and Copyright Policy. Email [email protected] to buy additional rights. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found at https://www.ft.com/tour.
https://www.ft.com/content/e5c741a7-befa-4d49-a819-f1b0510a9802#comments-anchor
It will surprise nobody that London accounts for an outsized share of Britain’s output, but the magnitude of the UK’s economic monopolarity is remarkable. Removing London’s output and headcount would shave 14 per cent off British living standards, precisely enough to slip behind the last of the US states. Britain in the aggregate may not be as poor as Mississippi, but absent its outlier capital it would be.
https://m.primal.net/HIUc.jpg

2023-08-07 18:03:42

Bought lunch at calm Indian cow using bitcoin today. However schoolboy Error… I forgot to check and sent an on chain payment! 8000 sats fee!
Location. 40 Clifton Street, London, EC2A 4DX

2023-08-07 17:57:12

The HSBC UK fiat exit gates are closing.
From August 2023, we’re limiting the value of payments you can send to cryptocurrency exchanges using:
your debit card
our digital banking services (Online & Mobile Banking)
our branch & contact centres
We will apply the following limits:
• Payments – £2,500 for a single payment and a total payment limit of £10,000 in any rolling 30-day period
• Debit cards – £2,500 for a single card payment and a total card payment limit of £10,000 in any rolling 30-day period

2023-08-04 19:27:46

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I loved his OTT global travel. I couldn’t figure out what was real and fake

2023-08-01 20:04:41

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Just downloaded your app after struggling using @npub18m7…q955 after losing zaps. Loving it so far as I can zap freely and easily with the @npub1get…0nfm integration. it’s a shame I need yet another wallet but delighted it’s so easy to use :)

2023-07-28 09:34:32

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Check out the OSI layers

2023-07-23 12:41:54

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Just got going with ZBD wallet. The more I use it the more I like it

2023-07-11 13:09:24

nostr:7ab1d3867722b4cbabb6c8503ab3f9265daa4f82e228cefe302621f4e5ee1f1c imagine me a boy sat in a coffee shop with low lighting and a handful of other customers drinking coffee

2023-07-11 13:05:07

nostr:7ab1d3867722b4cbabb6c8503ab3f9265daa4f82e228cefe302621f4e5ee1f1c balance

2023-07-11 13:04:37

nostr:7ab1d3867722b4cbabb6c8503ab3f9265daa4f82e228cefe302621f4e5ee1f1c deposit 1000

2023-07-02 11:39:01

@npub102c…zyfp imagine a small tennis ball celebrating winning the Wimbledon tennis championship on centre court as the sun sets

2023-07-01 23:42:38

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2023-06-26 11:24:07

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This dip is for ants :)

2023-06-15 18:29:34

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Love it!

2023-05-30 20:57:16

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Interesting context for for why POW is Essential for bitcoin but not much beyond that.

2023-05-13 22:59:54

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Watching Eurovision 2023. Crazy euro music acts

2023-05-10 16:39:21

Pump it up! https://nostr.build/i/e8c81134c512fd9d530cac91f8f170407a850491a7d2b4bd65e0d59094a8e91a.jpg

2023-05-06 23:24:28

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According to the FT this week “The platform, which is still invite-only and in beta mode, remains a minnow compared with social media giants such as Twitter and Meta, with about 50,000 users. Still, visits to both the desktop and mobile app rose to nearly 1.5mn globally in April, up from less than 300,000 in March and about 15,000 in February, according to data from digital intelligence group Similarweb.”

2023-05-05 20:03:43

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I hear videos come out of the event in a week or so time

2023-05-04 18:26:04

Check it out https://www.microstrategy.com/en/lightning/lightning-rewards I would be happy to stack sats for turning up to a company town hall zoom webinar, it would certainly increase attendance!

2023-04-26 23:49:29

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Inevitable

2023-04-26 12:54:12

https://www.theguardian.com/technology/2023/apr/26/bitcoin-mining-climate-crisis-environmental-impact
Minor reference to what is good about PoW at the end… This means that these energy companies can mine bitcoin during periods of excess production and oversupply. So instead of letting energy go to waste, money can be made and the wealth can be shared between the cryptocurrency mining facilities and the renewable energy companies with which they have a contract.
However still a massive hit piece that sees this as a fix rather than integral to PoW!

2023-04-22 18:43:47

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Error

2023-04-22 18:41:48

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Look forward to seeing them :)

2023-04-21 09:58:39

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Is there an ETA for these bonds?

2023-04-12 20:49:58

More nonsense in FT.com Cryptocurrencies: why bitcoin should move to proof-of-stake https://on.ft.com/3UudCoa

2023-04-12 19:08:33

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Page 17 source is digiconomist! 🤡

2023-04-06 22:58:14

But was it really Bitcoin that helped El Salvador dodge default? Perhaps the truth is much more mundane.
El Salvador regained many investors’ graces in July 2022, after announcing a $1.6bn bond buyback using special drawing rights from the IMF and a $200mn loan from the Central American Bank for Economic Integration. Buybacks in September and December reduced the principal for the 2025 bond to $348mn from $800mn.
“The buybacks to some extent fixed their communication issues. They changed from catering to the crypto community back to catering to traditional investors,” says Esteban Tamayo, a Citi economist covering the region.
The country is even earning something of a reputation for financial prudence.
https://nostr.build/i/nostr.build_baca426468028e3c768ed8585b68a1f3a22eaecf730baaee8452a27433dd832c.jpeg

2023-04-04 23:16:25

https://nostr.build/i/nostr.build_77cb2b85eb4ee425f06afbf74cbeda0d06d5fec1512049c0e40e85fdeaffa8e9.jpg
Daniel Clifton at Strategas calculates that US policymakers, on net, injected $755bn in liquidity in the first quarter of this year, whereas they were net subtracters of liquidity all through last year. The correlation between changes in liquidity and bitcoin’s price looks tight:

2023-04-04 23:05:21

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Teflon?

2023-04-04 18:40:36

The average daily trading volume of various assets:
1. Gold: $183 billion
2. U.S. Treasuries: $700 billion
3. U.S. equities $170 billion
4. Bitcoin: $21 billion
5. Global forex: $6.6 trillion

2023-03-30 21:40:17

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Not aging well so far but still time to bounce back!!

2023-03-27 14:15:37

Check out page 20 of the UKs Payments Association quarterly rag https://thepaymentsassociation.org/payments-review/ A fairly balanced write up of Lightning payments featuring #[0]

2023-03-20 11:42:47

#[0] combine Greggs bakery with Credit Suisse Bank logo

2023-03-07 22:39:41

#[0] a miniature schnauzer dog digging a hole on a beach by a sandcastle

2023-02-19 10:04:43

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Welcome & PV

2023-02-05 22:00:48

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Good life in Costa Rican

2023-01-27 21:30:34

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It’s early. :) guten tag

2023-01-26 19:57:36

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Thanks for the follows list. How about you add snowden?

2023-01-10 21:18:48

Test any sat request LNBC1P3MM3LHPP5ADEWSU82EM23UYY074TZ74279WACF6K59ZMHZ3QU7H0XQA59K9XSDQQCQZPGXQRRSSSP5HVZNQCFEQSJV20VQVV96FL5E3Q9AXQ8Y5WFQK5A2MTSN3M2X2P6S9QYYSSQCVA92L80XY6R3AC5DZJR33A78UWXUAMR00SL2PV5Y4AWFLTNKEARF86GA435GZK5N5VMEASGKXX59HHCHUH69UFV2YKXACVMC4VLG7CQURX9NF

2022-12-15 23:59:31

hello world