Member Info for CLSKBull

Huh? Of course the price impacts miners.

It's totally insane - even if you generate your own electricity you have to pay the tax. Mental. It won't get through.

https://twitter.com/BitcoinPierre/status/1767371855512432900/photo/1

Yes it's not like they are making bumper profits, most of them are failing to make a profit at all. They are all curtailing when required, just seems a witch hunt.

Trump is all those things and should not be in power - however Americans value freedom above all else, and hate any sort of tax. To be fair that proposed bill sounds stupid and a tax on bitcoin miner electricity is discrimination. I've not read the detail though to be fair.

Yes the job figures were crazy, there was a good article on it you may have read:

https://www.zerohedge.com/economics/inside-most-ridiculous-jobs-report-recent-history-12-million-immigrant-jobs-added-one

Yes that is the hope, that now is the time for inflation to be coming down and lower than the forecast 3.7. 2 more hours....

Mwhite - when you sell GBTC, if you are a taxpayer, it is a taxable event. So the 1.5% fee would be less of a concern here as it is far less than the tax rate. I think that is what Grayscale are banking on and taking advantage with the higher fees.

On a side note, VanEck has reduced their fees to 0 until next year - so expect heavier inflows there.

It does matter, as it is like driving with the handbrake on. Although we are still going forward and that is the main thing. The sooner they are depleted the better.

https://heyapollo.com/bitcoin-etf

Miners are out of favour for the moment, I'd argue that many are now severely undervalued. Looking forward to the next 20% plus day when it comes.

Mstr also dropped a good amount into close so not miner specific.

Maybe jumping out for the inflation figures release?

ATMs Will be getting hit hard for sure. Hope some news release comes.

Not too worried, confident miners will run again. Although it would be lovely to see a solid green day not going to lie. Looking forward to the mania phase and getting out. Will use this board as an indicator - when the dumb posts start increasing and getting 30+ likes you know the top is there. For now BTC moving in stealth upwards.

Remember when the price was 36 in November and people were worried about the halving - the price would have to double to get the same - well guess what:

1. The price of BTC HAS doubled.

2. Post halving some hash will drop off. Not loads but some.

3. It's actually not exactly half, as miner fees sit between .2 and .4 BTC at the moment - and have been much higher when the ordinals have printed.

Market will come around before pre halving is my guess.

Some miners will be fundamentally good just now and post halving. MSTR seems to be sucking up the miner traffic just now. $100k per bitcoin they're paying - crazy stuff. It will turn, it always does.

Yes really hoping for a surprise low CPI.

Bitcoin will silently move towards 100 then it will all kick in - just need to put up with it for now.

Ah yes I remember that one - so annoying at the time.

It all happened so fast - bitcoin and miners had risen so fast and they were on fire - Argo could do no wrong at the time. Expensive lessons, but lessons learned. Same mania might be with us soon, as BTC sat above 71 and every chance it runs to 100 or more in the very near future. I'm placed for it and ready to scale out at my targets.

Definitely something dodgy there, as the following two Argo RNS's a couple of weeks apart.

Feb 25th 2021 - Large director sales

March 8th 2021 - Raise to buy into Pluto

So they knew it was coming and cashed out, stopping the Argo run. Why would you cash out if you thought Pluto was a great buy? Where did all the money go as you say?

https://polaris.brighterir.com/public/argo_blockchain/news/rns/story/w1j773w

https://polaris.brighterir.com/public/argo_blockchain/news/rns/story/x5d8zpw

Ah didn't realise it was NFT Investments - the same NFT investments that was going to takeover Pluto (now bankrupt).

Yes I didn't bother to go any deeper - really they should be charged for that. People in jail for stealing much lower sums of money. Why bother being a petty criminal when you can can get away with far worse under by being a company director taking money from the ignorant and trusting. Sickens me.

I started DD and in less than 1 min found this:

"The founding team built one of the world's largest crypto miners (Argo Blockchain Plc) that reached $2B USD in valuation during 2022. "

1. Wouldn't touch anything related to Argo founders - they will dump on you.

2. One of the world's largest crypto miners is tenuous at best.

3. They never reached $2bil mcap.

Agree 404, I think the miners would be higher just now if the halving wasn't pending, however for bitcoin price itself I think the impact is now historic.

New all time highs will bring in new money and I think the halving impact on miners and bitcoin miner fundamentals will take a bank seat. I think we get a good run before the halving.

Forget the halving, it's all about the ETFs. Halving causes new supply to go from 900 new BTC a day to 450. ETFs are taking in much more than 900 a day. Once gbtc selling slows down it will be even more stark. Forget the halving narrative on bitcoin price is my advice. We've already hit ath before the halving, so that narrative is over. Does impact miners but I think it's priced in already and are due a run.