Author Topic: How soon until Bitcoin crashes?  (Read 76183 times)

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Offline The California Court Company

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Re: How soon until Bitcoin crashes?
« Reply #390 on: July 14, 2022, 07:49:35 PM »
It was only last year that one of the founders of Celsius posted a video mocking Warren Buffett.. D'oh!

Billion-dollar crypto company Celsius collapses in wake of violent market crash

didn’t one of the founders mocked Warren Buffet last year?

The organization, which built its business off claims that it was less risky than a bank and would provide better returns, will be restructured after it was taken down by the dramatic plunge in the value of cryptocurrency.

https://www.yahoo.com/entertainment/billion-dollar-crypto-company-celsius-112413922.html

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Offline nosuchreality

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Re: How soon until Bitcoin crashes?
« Reply #391 on: July 16, 2022, 06:26:51 AM »
How long can they maintain $200 in electricity per transaction?  The others will suffer the same fate, the bigger they get the more energy per transaction.

Quote
By far the most power-hungry crypto in our study, we found that a single Bitcoin transaction uses an average of 1,173 Kilowatt Hours (kWh). If we consider that the average monthly electricity usage for a UK household is 350 kWh, that’s enough to power the typical UK home for more than three months at a cost of roughly £125 ($173), based on a fixed cost of £0.11 ($0.148) per kWh

https://www.moneysupermarket.com/gas-and-electricity/features/crypto-energy-consumption/?__cf_chl_tk=NOMo861xHf6FZKOwSMadjmra2ILF66ySPztu3MFQvhU-1657976831-0-gaNycGzNB70

Offline CalBears96

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Re: How soon until Bitcoin crashes?
« Reply #392 on: July 16, 2022, 04:52:03 PM »
How long can they maintain $200 in electricity per transaction?  The others will suffer the same fate, the bigger they get the more energy per transaction.

Quote
By far the most power-hungry crypto in our study, we found that a single Bitcoin transaction uses an average of 1,173 Kilowatt Hours (kWh). If we consider that the average monthly electricity usage for a UK household is 350 kWh, that’s enough to power the typical UK home for more than three months at a cost of roughly £125 ($173), based on a fixed cost of £0.11 ($0.148) per kWh

https://www.moneysupermarket.com/gas-and-electricity/features/crypto-energy-consumption/?__cf_chl_tk=NOMo861xHf6FZKOwSMadjmra2ILF66ySPztu3MFQvhU-1657976831-0-gaNycGzNB70

That estimation is based on fixed cost, but I think most utility companies use tier system. So if you overuse by that much, it's going to cost a whole lot more per kWh.

Offline morekaos

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Re: How soon until Bitcoin crashes?
« Reply #393 on: August 02, 2022, 09:09:37 AM »
Created by criminals…for criminals…
 
Hackers drain nearly $200 million from crypto startup in ‘free-for-all’ attack

·         Hackers yanked almost $200 million in crypto from Nomad, a so-called blockchain bridge.

·         Blockchain bridges allow users to transfer tokens from one network to another.

·         They’ve become a prime target for hackers seeking to swindle investors out of millions.

https://www.cnbc.com/2022/08/02/hackers-drain-nearly-200-million-from-crypto-startup-nomad.html?__source=iosappshare%7Ccom.apple.UIKit.activity.Mail

Offline morekaos

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Re: How soon until Bitcoin crashes?
« Reply #394 on: August 03, 2022, 08:53:21 AM »
….a force for good in the world… ;D ;D >:D
 
CRYPTO WORLD
Ongoing solana attack targets thousands of crypto wallets, costing users more than $5 million so far


·         Nearly 8,000 digital wallets have been drained of just over $5.2 million in digital coins including solana’s sol token and USD Coin (USDC), according to blockchain analytics firm Elliptic.

·         The Twitter account Solana Status confirmed the attack, noting that as of Wednesday morning, approximately 7,767 wallets have been affected by the exploit. Elliptic’s estimate is slightly higher at 7,936 wallets.

https://www.cnbc.com/2022/08/03/hackers-attack-solana-crypto-stealing-millions.html?__source=iosappshare%7Ccom.apple.UIKit.activity.Mail
 
Homeless, suicidal, down to last $1,000: Celsius investors beg bankruptcy judge for help

·         Some of the 1.7 million Celsius customers ensnared by the alleged fraud are now directly pleading with the Southern District of New York to help them get their money back.

·         It is the latest sign that bankruptcy court has become the de facto arbiter of crypto policy in the U.S.

https://www.cnbc.com/2022/08/02/celsius-investors-owed-4point7-billion-beg-judge-to-recover-life-savings.html?__source=iosappshare%7Ccom.apple.UIKit.activity.Mail

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Re: How soon until Bitcoin crashes?
« Reply #395 on: August 03, 2022, 10:31:33 AM »
Crypt gonna crypto.
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Offline morekaos

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Re: How soon until Bitcoin crashes?
« Reply #396 on: August 03, 2022, 11:50:25 AM »
That it will

 

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