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Europes first spot bitcoin ETF has gone live today

https://www.zerohedge.com/crypto/first-eu-spot-bitcoin-etf-hits-euronext-amsterdam-exchange

Another small step but a significant one .

Javier Milei who advocates for Bitcoin becoming legal tender won a decisive victory in the preliminary Argentine elections on Sunday , all eyes now switch to October for the final vote .

Bitcoin is currently trading at an all time high against the peso as Argentinians look for an alternative to a fiat currency that’s in terminal decline despite the IMF attempting to impose sanctions on crypto as part of the latest bailout.

Slowly then suddenly, eventually bitcoin eats all FUD .

The South American continent is slowly but surely turning orange #Bitcoin 

Good morning Addi

You may like to see what Hive are doing with their CPU’s , it may or not give an insight into QBT’s thinking . I don’t know the answer but it’ll probably give some clues.

Another piece of troll FUD destroyed ! Not only is bitcoin one of the most ESG friendly industries on earth but the first country to fully adopt Bitcoin as legal tender economy is turning around after decades of decline , not to mention its president is enjoying an approval rating of 80%+

https://dinero.com.sv/en/finances/item/9022-jp-morgan-affirms-that-el-salvador-s-gdp-is-on-the-rise-and-fiscal-deficit-on-the-decline.html

The SEC have delayed ARK’s ETF approval, As we suspected they would , the silver lining is it’s a delay not a denial as with previous ETF applications, the statement released by the SEC is also far more moderate than its previous hard line.

Christmas approval is where the smart money is, with Blackrock been amongst the first batch of approvals , by no means a done deal but the pressure is definitely on GG

Https://news.bitcoin.com/tsmc-advances-towards-2-nanometer-chips-in-taiwan-a-breakthrough-that-could-revolutionize-bitcoin-mining/

Here you go pas , couple of analysts I watch on YouTube.

Personally I prefer Sebastian as I feel he’s more factual.

https://youtube.com/@SebastianOn

https://youtube.com/@TalkinInvesting

Tom I feel is far more clickbait and full of sensationalism

Just my opinion but the bottom line is the more opinions you get the better inform call you can make.

Https://twitter.com/cazenove_uk?s=21

Link yo Anthony power the analyst I think Pas is referring to

He’s pretty good and certainly spends a lot of time gathering figures , having listened to him on several podcasts and Twitter spaces I’m not sure he full understand s the diversity of the mining space as he often makes sweeping statements lumping all miner together which personally I feel is way to simplistic.

Blonity has a far better understanding of both crypto mining and equally the energy market , sadly blonity no longer posts publicly due to the abuse he received from moronic trolls - idiots that jumped onto miners that had already 100x and seemed to blame him for their loses . I’m back in regular contact with him on social media Which is a brilliant contact to sound ideas off , I often refer to him as the German, I introduced him to the ARB board in 2019 when he only had 6 subscribers on the platform he was using at the time .

You have to credit the bears for holding $30k when we broke it last night I thought they’d lost control but they’re fighting very hard especially given the big rumours circulating in the last 12hours or so .

Larry fink is the power in the US , if he wants an ETF he’s getting one , the only question is at which round Gensler caves . The SEC run out of road to kick the can down well before the next US election . December approval is looking most likely .

*FED ANNOUNCES NEW OVERSIGHT PROGRAM FOR CRYPTO ACTIVITIES

ETFs looks a done deal ! Will the SEC make us wait until Christmas is now the big question

This week could potentially be a big one for bitcoin , Sunday is the first deadline for ARK’s ETF , the SEC can choose to dismiss it , approve it or in my opinion most likely put the decision on hold for a further period ( either 45 or 90 days I think ) given how all the ETFs have been structured it’s reasonable to assume if one gets approved they all will .

The SEC are fighting multiple cases against crypto some of those cases look very weak others have there merits but what’s becoming clear is American politicians are becoming increasingly frustrated by the Gary Genslers stance , in recent weeks lawmakers have passed two crypto related bills .

There’s little doubt crypto is full of fraud and projects with little or no merit , I’ve always said 99% of the 30k+ coins/ tokens are scams but it’s also glaringly obvious the genuine projects are been punished along with the bad , this is even been recognised by those running in the presidential election, many leading candidates on both sides ( dems / republicans) are pro crypto. Although the current situation is frustrating feel confident things are edging towards sensible regulation. The EU , Canada , uk ,

China ( Hong Kong is their test bed ) and gulf states are all regulating or already done so . It’s just a mater of time before Gensler cracks or is forced out .

Will we get a US ETF approval on Sunday , many stars are aligning , kPMG report , Fink all over MSM talking up crypto, the MSM themselves changing the narrative, obviously I hope I’m wrong but my instinct tells me the SEC will hold out a little longer . The rejection may well send BTC down probably to test the $27k ish support, but it’s clear the long term holders won’t be shaken out , 70%+ of Bitcoin hasn’t moved for 6months or more , a new record.

As long as you have done your research and haven’t overstretched yourself this isn’t the time to be selling out , dull boring yes but early spring can be like that , hold the line summer is coming.

For someone with such a poorly performing portfolio #Lloyds #BT# Vodafone you sure spend a lot of time worrying about Bitcoin and advising others ,is it a coping mechanism Fleccy ?

Bitcoin was created in 2008 ( the white paper published in 2009 . Lloyds traded @ 225p in January 2008 and started 2009 @ 51.2p , in 2008 it offered a dividend of 36.2p .

On the day of the first ever Bitcoin trade Lloyd’s stood at 61.71p

Lloyds sp is now 43.16p so a loss of 27%+ since July 2010 or 80% loss since 2008 ,

It now pays a 2.1p dividend so a cut of 90%+ in yield.

Meanwhile bitcoin has risen from .0008c in July 2010 to $29k today a gain of 3624999900%

It’s a very similar story at VOD and BT.A , so keep trolling because

Fleecy you have truly are the gift that keeps giving !!!

Oh but let’s not forget the dividends , the dividends that are collapsing even quicker than the SP .

The figures I gave were second hand machines which vary a lot depending on market price of BTC ( there price peaks as bitcoin price peaks due to interest in crypto) bizarrely second hand seem to have a premium as new and upto date are pretty much impossible to get .

I found it near impossible to get a definitive price for new rigs as it was like many other’s businesses , very dependent on size of order .

A quick google search suggests the Bitmain Antminer S19 XP Hyd (255Th Is currently costing around $4150 + sales tax ( I think that’s what they call VAT in the US ) , so 1000 rigs is going to cost $4.5m ish + all additional costs , effectively you ain’t mining with 1000rigs for less than $6m outlay by the time you’re other fees are paid .

There’s obviously economics of scale advantages looking at some of the orders the big boys have ordered recently , one deal I’ve seen was 20,000 rigs for $55m .

It is in fact perfectly possible to earn bitcoin with just one rig albeit probably.only a few tens of thousands SATs .

You simply join a mining pool and you’ll receive a pro rata share of the block rewards earned by that pool .

I was a participant in slush pool from 2016-2021 , I had 4 a

S3 ant miners that regularly produced 1m- 5m SATs per month in 2016 this dwindled to less than 500k

Sats a month as newer machines were launched by 21 although I was using a mix of solar and hydro from my land by 2021 it became clear I’d need to upgrade to newer machines to turn a profit, decent rigs we’re going for £6k- £8k on the second hand market then ( and the second hand market is full of overclocked machines), I know they came down to around £2k last winter as the market was flooded with farms closing due to the BTC price crash .

In my experience manufacturers won’t even entertain discussing orders of less than 1000 rigs and even big orders take up-to a year to for receive the full consignment.

You also have to understand mining pools are always competing for participants so you’ll often see a pool claiming a single miner won a block reward within their pool, in my experience this can’t be true because as I stated above you add your hash to the pool and share a percentage of the block rewards generated based on hash you contribute. I’d be 99.9% claims of a single miner winning a block within a pool are just ploys to get the naïve to join that particular pool

So after years of FUD by a small number of climate change extremists that have pedalled the bitcoin is boiling the oceans narrative to the msm final an independent report by one of the worlds top auditors concludes bitcoin mining is actually good for the environment as it captures stranded energy ,provides stability to grids and helps drive down energy costs by buying otherwise redundant power . Strangely now KPMG have issued their findings even the MSM are reporting what those of us who’ve actually taken the time to understand the subject have been telling them for years !

https://mywheellife.com/2023/08/02/kpmg-the-bitcoin-narative-is-changing/

Hi Jezc

If you are dropping an Email to QBT , how about asking them if they’re been in Miami @ mining disrupt this week (25-27th ) I attended the virtual show on Thursday for the RKJ speech , I’ve also been through the list of exhibitors and industry attendees, not seen QBT or and subsidiaries ( I recognise) . Been as it’s the leading industry show it would be good to get some clarification from QBT of there presences, I’d have thought they’d give you an answer as attendance of a industry conference is hardly groundbreaking news .

Ps

Although Satoshi is British rumours that he regularly frequents this board with predictions and plans to work on his next project alongside his wife in a newly constructed garden workshop are probably wide of the mark !

CW is a particularly tireSome individual who’s been making claims regarding his involvement in creating BTC since 2016ish , to my knowledge he’s had judgements in Australia, USA, Scandinavia of similar nature go against him . I certainly don’t have any deep understanding of the law regarding copyright/ownership but in every previous case when CW has been asked to prove his credentials he’s failed to do so claiming he’s lost access to various accounts & wallets that would potentially validate his claims.

Meanwhile it’s pretty common knowledge who the real SN is in the Bitcoin community but there’s no conclusive proof .

This mornings RNS is another significant step on the road , personally I’d like to see TM1 really pushing the fact there so heavy involved in Recyclus as the wider investing community don’t seem to have caught on . That said it gives us in the know a wonderful opportunity to mop up cheap shares before the heard arrives !

If I can raise a few pennies from under performing holdings I’m going to top up if TM1 doesn’t jump too high .

GLA

I think the FOMC meeting will be the biggest determining factor this week on BTC movements and subsequently the driving force behind QBT’s sp unless there’s more company specific information made available to the market.

Some months ago I thought the FED would be forced to pivot due to the underlying damage the rate hikes are doing to the banking system and wider economy that assumption has been proven wrong so far , however there’s a very plausible hypothesis that the FED want to break more small banks and possibly the jobs market which would give them a reason in Q3 possibly Q4 to pivot and flood the system with liquidity , don’t forget 2024 is a US election year and the sitting party won’t want to defend a deep recession at the polls so pumping the economy with $ seems inevitable.

I think they’ll signal a 25bp rise in August but the market will look to any signs of a more dovish stance going forward. Any hint Powell is softening should be seen as a positive for BTC and the wider stock market. A word of caution though, in the minutes after the announcement Bitcoin has moved $500-$1000 on the last 3or 4 FOMC announcements only to reverse that move quickly .