re: Official CryptoTalk Thread

quote:

---

I am so confused. What does this have to do with Bitcoin being dangerous for the environment?

---

Bitcoin is mined using electricity. Many uneducated people think that mining bitcoin is using way too much energy. Producing energy/electricity typically involved emitting CO2.

So these uneducated people think that all this bitcoin mining is consuming more electricity than some countries, thus emitting unneeded CO2 into the environment.

were environmentalists this mad about computers when they were invented

I just went long June 2021 strike $7,500, breakeven point $46,101 BTC.

The options are so expensive due to volatility, but there seems to be some market inefficiencies. Surprising, my %55,000 protective puts, although higher, aren't really that much higher given all that has transpired the last several days.

When I say market inefficiencies, what I mean is priced at a level I find decent given my overall long position, and protecting gains on the put side. I'm not bothering with implied, Greeks, etc., etc..

all the other stupid fud has been disproven, all that's left is environment/wasting energy

People are such retards

if bitcoin didnt have a number value attached to it, most people wouldnt even care.

the fact that nearly everyone had an opportunity to buy it under $500 makes them irrationally angry.

so instead of saying, "i was wrong" one time, they continue to cope with, "its a scam, ponzi, fad, will be banned" - its all ego preservation.

yea, the last bull cycle ETH had a huge run where BTC stayed flat and then dominance also fell. so holding ETH during this time meant more gains. this was playing out quite clearly until the biden CG tax fud and then we dipped.

at this point, im market neutral on whether the bull run continues as i think there will need to be a catalyst to push us into higher highs but this chart is interesting.

LedgerX. And I'm looking to see if I can trade bitvol, but haven't found any place yet.

quote:

---

eta: here is a fun little chart

---

bookmarked

So, it looks like maybe 2nd-3rd quarter of 2022 would be the time to jump back in?

this cycle is gonna be different because of how much institutional money is in it, but it will go back down again at some point. I just dont know how low, how high its gonna go before it will drop, and how long it will be there.

conventional logic says we really should see 100k bitcoin before the next major dip but that seems unlikely. we're in the "shitcoin run" phase which usually precedes the beginning of the end