Argo is down 95% from its peak, a good buy right now if they make it to the next bullrun
I'd look at how they're powering their farms. You want to bet on mining companies involved with Crusoe energy and Vespene energy, both have highly efficient patented technologies for mining with methane waste. Abu Dhabi and Oman Sovereign wealth funds have invested half a billion in Crusoe.
I spent thousands of dollars a month on electricity feeding 100 amps into my ASIC garage farm.
He's not this bad lol
Inefficient miner with no understanding of bitcoin's role within cost, incentive dynamics of energy systems
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Bitcoin does. It's commodity money. Commodity money doesn't need to be backed.
Fiat doesn't. It's representative money and what's supposed to back it no longer backs it.
The only way fiat money will ever have any value again is if it's backed by bitcoin.
Without self custody, Bitcoin supply cap cannot be enforced
Well written but dumb, don't tell the enemy they are making mistakes. Sit at home, smile and wait patiently. Never send them anything again! thx
Enemy is not making mistakes. Enemy is scared and lying. This is an open letter, not specifically for the purpose of informing the enemy. It is to inform the public.
Follow NoCBDC
Regardless of the wording, you're dreaming if you think this letter isn't going straight in the bin before whoever ends up reading it gets to the end of the first paragraph.
you're dreaming if you think this letter isn't going straight in the bin
It's an open letter
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Scammers will likely still exist on decentralized platforms as long as opportunity exists. And to eliminate that opportunity would mean censorship.
Has anyone been scammed on Bisq or Robosats? Possibly extremely rare from user mistake but I haven't heard of it. Both P2P, self hosted, self custodial exchanges. It has a lot to do with security first design principles. Of course there's a little learning curve when it comes to fully P2P protocols.
“The root problem with conventional currency is all the trust that’s required to make it work. The central bank must be trusted not to debase the currency, but history of fiat currencies is full of breaches of that trust.
Proof-of-work has the nice property that it can be relayed through untrusted middlemen. We don’t have to worry about a chain of custody of communication. It doesn’t matter who tells you a longest chain, the proof-of-work speaks for itself.”
— Satoshi Nakamoto
Satoshi
I appreciate your sentiments. I really do but I'm sorry to say by invoking this name in the same breath as central preminers, your post loses credibility.
Ethereum foundation centrally premined 72 million eth before a single block was mined of which 12 million was supposedly given to founders but if you look at the sale curve, it follows the mathematical precision of a power function which is only possible if it was all paid out to a single entity or small group of people working in concert.
They have full control over our hard earned funds
Ethereum foundation has full control over your funds and the entire protocol. They even own trademarks and can change anything without resistance. Nobody runs nodes, the CEO does not want any average users to run nodes and even he does not have a full archival node, everything runs through central RPC nodes like infura and people use centralized wallet software that tracks everything they do.
73% blocks censored in the last 7 days, 75% blocks censored in the last 24 hours and ever increasing. The super majority of these central staking banks can simply fail to attest to non compliant blocks and form 100% censored OFAC compliant chain already right now. You're simply trusting them not to do it like you trust banks. You cannot withdraw coins and even after the central authority enables withdrawals, you will always require permission. The chain is already dead. It will forever be held hostage by stablecoin issuers and the staking banks will control protocol level censorship. There's already been talk about on chain KYC. The whole thing is propped up by intellectually dishonest buzzwords and marketing narratives. I think you're better off using paypal. You get the same experience with obscenely high fees, surveillance and censorship.
advent of L2s
Because even more centralization is always the solution
I’m sick and tired of seeing people lose money because of the recklessness of centralized exchanges
People lose way more money due to exploits on ethereum due to poor security and on top of that lose money on failed transactions. Over 1 million failed transactions per month.
So you hate bitcoin because you think everyone who uses bitcoin is a messianic headcase?
You know Epstein used the dollar?
Have you ever had the courage of conviction and stood for anything in your life? Are you going to come into a corrupt world and leave it worse or be part of a grassroots movement fighting to fix it?
Bitcoin has no company, no foundation, no license, no trademarks, no official website, no official code repo even. I do not represent bitcoin and bitcoin is not screwed but you can convince yourself that it is and screw yourself. Bitcoin does not care. It started from zero and grew organically through grassroots activities and it will continue to do so with or without you.
There's no grassroots movement fighting to fix the world here man.
You're mining bitcoin because you want to be rich. In dirty, dirty fiat.
You don't represent bitcoin but you do represent the overwhelmingly loud majority of insane lunatics who think that an append only database that by design wastes a ludicrous amount of power is somehow going to replace the entire world's banking system.
Even your pals in r/bitcoin mock your nonsense, maybe you should wind your neck in if even your ponzi pals think you're too extreme.
Or maybe quit smoking meth
You're mining bitcoin because you want to be rich. In dirty, dirty fiat
Oh shit. I keep forgetting to sell my bitcoin. Instead I keep selling dirty, dirty fiat. Thanks for reminding me.
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https://shop.upstreamdata.ca/product-category/asics/
How loud is it?
Black box or immersion cooling. I have solar powered immersion cooling setup, heat repurposed for space and water heating.
What purpose do you think blocks serve? An individual transaction goes into a block, and then you divide mining cost per block by the average number of transactions per block, to get average cost per transaction.
E: I see you edited and introduced two completely contradictory views of transaction costs, where individual BTC transactions cost nothing due to being aggregated in blocks, while USD cash transactions carry the cost of the entire US military (hilarious) and the entire banking sector (also hilarious).
There's no energy cost per transaction. That's not how this works. You have no clue what you're talking about. Energy secures the network, it's tied to the value of bitcoin. The rate of block production or transactions in a block does not change with increase or decrease in energy securing the network but simply adapts to it. Bitcoin also supports single transaction with hundreds of output and this typically counts as 1 transaction but in reality hundreds rolled into one.
You've been spending too much time in a subreddit that's been self-loathing and celebrating its ignorance for 12 years.
The military industrial complex and the banking sector consuming energy is bad for the environment. Bitcoin consuming more energy however will not only save the planet but also advance our civilization on the Kardashev scale.
This is going to freak out all you butt-for-head smoothbrains but read here how that's already happening and it's going to happen on a scale you can't even imagine in another 5-10 years.
By the end of this decade, from homes, small businesses to large corporations, bitcoin is going to become an integral part of heating systems. "What! you don't get paid to heat your home?"
Bitcoin is also going to become integral to energy production due to its unique ability to monetize curtailment and energy waste, driving down cost of energy production.
Here is an example of grassroots mining operations that's happening in Kenya where Bitcoin is reducing energy cost for local communities by 90%. This will be discussed at the upcoming African Bitcoin conference next week. This is going to be deployed all over Africa harnessing remote energy sources which were not previously economically viable.
As a secondary recycled energy source, mining heat is fast replacing natural gas heating systems for businesses, 40-room hotels like this, warehouses like this, greenhouses like this and apartments like this.
Arcane Research: How Bitcoin mining can transform our energy infrastructure
Repurposing Bitcoin mining heat can solve global energy crisis
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