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Hot!Cryptocurrency needs to die - for the good of all.

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Grey_Beard
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Re: Cryptocurrency needs to die - for the good of all. 2021/07/20 04:31:32 (permalink)
Xavier Zepherious
just stupid
 
it would have been far better to auction the units of to a reseller (with caveat they cannot be sold to malaysian customers)
could have recouped 1/4 million or more back(have to leave some profit for reseller) which could have gone to use in hire police or doing something of benefit to the country
 
or they could have given the machine to the electric company to use to recoup their loses with permission of the gov - sold the coin to get money back and then sell the machine off and put $$ in the coffers of the government
 
instead it cost them more and they have to deal with the ecological waste


bill1024
All those computers bein crushed could go to underprivileged kids and families for remote learning.
What a horrible heartless thing to do to working computers. 
Yeah that will show those bad crypto miners. We'll just crush the hardware.
Can't fix stupid



Seems you guys feel there is a better way.  Interesting fact is that the corruption of Butcoin is similar to the corruption in Malaysia.  Yet you fail to see either.   We get these unrealistic and detracted from reality responses.  It’s like you guys cry when the police burn and destroy illegal drugs, because they could have done something else with them.  Nice.
bill1024
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Re: Cryptocurrency needs to die - for the good of all. 2021/07/20 08:54:42 (permalink)
Grey_Beard
Xavier Zepherious
just stupid
 
it would have been far better to auction the units of to a reseller (with caveat they cannot be sold to malaysian customers)
could have recouped 1/4 million or more back(have to leave some profit for reseller) which could have gone to use in hire police or doing something of benefit to the country
 
or they could have given the machine to the electric company to use to recoup their loses with permission of the gov - sold the coin to get money back and then sell the machine off and put $$ in the coffers of the government
 
instead it cost them more and they have to deal with the ecological waste


bill1024
All those computers bein crushed could go to underprivileged kids and families for remote learning.
What a horrible heartless thing to do to working computers. 
Yeah that will show those bad crypto miners. We'll just crush the hardware.
Can't fix stupid



Seems you guys feel there is a better way.  Interesting fact is that the corruption of Butcoin is similar to the corruption in Malaysia.  Yet you fail to see either.   We get these unrealistic and detracted from reality responses.  It’s like you guys cry when the police burn and destroy illegal drugs, because they could have done something else with them.  Nice.




Bless your heart.

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Xavier Zepherious
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Re: Cryptocurrency needs to die - for the good of all. 2021/07/20 13:50:07 (permalink)
as i pointed out earlier only 1% of bitcoin is used for illegal criminal activity that means 99% are legally doing things
whereas 5% of Regular fiat currency (like the USA dollar) is used in criminal activity
 
 
basically you saying because 1% is doing something wrong the whole lot is
you follow the same logic with the US dollar and that means everyone that uses fiat currency are crooks
 
 
as i said before Crypto is becoming more traceable than fiat currency - the money of choice for most criminal activity is still the US dollar
you want untraceable and easy to move money
you use gold or diamonds 


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revollucian
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Re: Cryptocurrency needs to die - for the good of all. 2021/07/20 15:23:54 (permalink)
I believe in crypto but we need technologies that are more green that what we have now, theyre using up too much energy


atfrico
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Re: Cryptocurrency needs to die - for the good of all. 2021/07/20 15:28:07 (permalink)
revollucian
I believe in crypto but we need technologies that are more green that what we have now, theyre using up too much energy

Yes i agree. Technologies you say? Sure see the following:

1. Solar panel
2. Windmill.

The cleanest energy-efficient there is😼

Those who abuse power, are nothing but scumbags! The challenge of power is how to use it and not abuse it. The abuse of power that seems to create the most unhappiness is when a person uses personal power to get ahead without regards to the welfare of others, people are obsessed with it. You can take a nice person and turn them into a slob, into an insane being, craving power, destroying anything that stands in their way.
 
 
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Xavier Zepherious
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Re: Cryptocurrency needs to die - for the good of all. 2021/07/20 16:44:14 (permalink)
1. Hydro dam
2. solar
3. wind
4. geothermal
5 wave
6 nuclear (fussion more preferable)
 
 
1.at the moment there is lots of hydro power with lots untapped
you can put a water generator every foot of the stream edge- ie water mill
sure its low power but it would be the same as solar and wind generation
 
the rule is you are using up the kinetic energy that the water falls as it goes downstream --ie gravity
f=ma - force=mass x acceleration(gravity)
 
current hydro dam store energy with dams and use the pressure of the water to driver turbines
the higher the water in the dam the higher the pressure - weight of water and air pushing down thru a small tube at bottom
 
2 solar is still in it infancy...300w per panel but they are manufacturing 600 watt panels now
as the efficiency improves you literally could power the world on that alone
 
if just 3% of the suns energy could be tapped, you would have enough to power the world 10 times over
 
currently there are lots of areas with tons of sun - ie deserts that are completely unuseable - solar and wind might be a good idea there
 
3. again follows the same principle of solar if we just tap 3% of the wind we wouldn't need anything else
again there are lots of areas that they can be put -  ie ocean- mountains, deserts, in regions were we don't live like antartica, greenland etc - 
yes you can send the power via cables across the ocean or even by wireless(laser,microwave,etc)
 
my god there is a lot of unused land that could be put to use here
 
4. geothermal
the earth is a geothermal engine - if you put pipes down you you can send water down and get boiling water back up
the ground get warning as you go down and get closer to the molten core
that is pressure and that is an engine that can turn turbines
 
iceland is a perfect example they run the entire island on geothermal - including their bitcoin mining farm there
 
 
5. this one is a little more difficult at the moment - industries are still working on this
 
6. nuclear fission is mostly dirty in my opinion at the moment - however there are new small nuclear fission reactors that run clean
and fusion is not that far off 
 
Fusion would be the ultimate - once we achieve that Energy becomes real cheap - like under 1c kwh
 
------------------
 there are future energy methods being looked at
some super futuristic but doable in maybe the next 100 yrs
 
 
post edited by Xavier Zepherious - 2021/07/20 16:57:54


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atfrico
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Re: Cryptocurrency needs to die - for the good of all. 2021/07/21 09:20:50 (permalink)
We have the technology that benefits all but of course there is no money gain on that right?

Those who abuse power, are nothing but scumbags! The challenge of power is how to use it and not abuse it. The abuse of power that seems to create the most unhappiness is when a person uses personal power to get ahead without regards to the welfare of others, people are obsessed with it. You can take a nice person and turn them into a slob, into an insane being, craving power, destroying anything that stands in their way.
 
 
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Xavier Zepherious
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Re: Cryptocurrency needs to die - for the good of all. 2021/07/21 22:30:32 (permalink)
future wind generation

 


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Nereus
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Re: Cryptocurrency needs to die - for the good of all. 2021/07/22 17:52:57 (permalink)
 
This should make some of you smile; 1,069 mining rigs in Malaysia flattened with a steamroller after being seized for stealing electricity. (story link)
 
 
 
 
post edited by Nereus - 2021/07/22 17:55:01

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bill1024
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Re: Cryptocurrency needs to die - for the good of all. 2021/07/22 20:50:25 (permalink)
Nereus
 
This should make some of you smile; 1,069 mining rigs in Malaysia flattened with a steamroller after being seized for stealing electricity. (story link)
 
 
 
 




Didn't read post 290 did you? 

 Life is too short to carry a cheap pocket knife

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Nereus
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Re: Cryptocurrency needs to die - for the good of all. 2021/07/22 21:19:06 (permalink)
bill1024
Nereus
This should make some of you smile; 1,069 mining rigs in Malaysia flattened with a steamroller after being seized for stealing electricity. (story link)
 
 


Didn't read post 290 did you? 

DOH... did now   ..oops.
 
 

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atfrico
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Re: Cryptocurrency needs to die - for the good of all. 2021/07/22 21:46:30 (permalink)
bill1024
Nereus
 
This should make some of you smile; 1,069 mining rigs in Malaysia flattened with a steamroller after being seized for stealing electricity. (story link)
 
 
 
 




Didn't read post 290 did you? 

Oh he definitely didn't read this one https://forums.evga.com/m/tm.aspx?m=3329726
either🤣🤣

Those who abuse power, are nothing but scumbags! The challenge of power is how to use it and not abuse it. The abuse of power that seems to create the most unhappiness is when a person uses personal power to get ahead without regards to the welfare of others, people are obsessed with it. You can take a nice person and turn them into a slob, into an insane being, craving power, destroying anything that stands in their way.
 
 
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nmeppel
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Re: Cryptocurrency needs to die - for the good of all. 2021/07/23 14:59:57 (permalink)
Man I just want to doot around on my space heater and enjoy the lights that flash into my eye balls while ignoring the fact that every time I close my eyes for the day, I’m one day closer to not waking up. Damn you crypto. I just want my flashy light computing hardware.
VitMan2345
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Re: Cryptocurrency needs to die - for the good of all. 2021/07/23 18:33:47 (permalink)
Yep
markedpk
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Re: Cryptocurrency needs to die - for the good of all. 2021/07/24 15:36:51 (permalink)
It does have great utility it’s just unfortunate how much it has impacted the gpu scene
Xavier Zepherious
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Re: Cryptocurrency needs to die - for the good of all. 2021/07/24 19:58:23 (permalink)
high demand is why there is a shortage - primarily
blame the years of downsizing and not building enough fabs to have surplus mfg .... oh no can't have fabs doing nothing
let alone the glut of silicon would depreciate pricing
 
they are oligopolies - they restrict silicon to raise up prices - just like opec
 
 
Bitmain to Host Miners in 180-Megawatt Data Center in Kazakhstan
 
Crypto mining hardware manufacturer Bitmain has partnered with Enegix to host Antminer S19 Pro devices in one of the world’s largest data centers. The facility located in Kazakhstan is designed to accommodate more than 50,000 mining rigs.
 
https://news.bitcoin.com/bitmain-to-host-miners-in-180-megawatt-data-center-in-kazakhstan/
 
once again the crackdown in China  on crypto is just moving the machines to other countries
 
kazakstan is just as dirty...ie coal
 
maybe if you give incentives to move them to counties that could provide cleaner power
post edited by Xavier Zepherious - 2021/07/24 20:07:48


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aka_STEVE_b
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Re: Cryptocurrency needs to die - for the good of all. 2021/07/25 07:51:14 (permalink)
Bye-bye Bitcoin: It's time to ban crypto currencies | TheHill
 
I've provided plenty of proof the current form of crypto needs to go , even some of it's originators have agreed as well - but here is another good article on it.
 
 
 
I’ve never quite understood why cryptocurrencies are worth anything. Of course, the untraceable payments are worth a lot to ransomware hackers, cyber criminals and money launderers. But dollars, euros and yen are backed by nations’ respective treasuries. If someone invents a crypto currency, any value is based solely on convincing others it has value. But is it a usable means of exchange? International banking officials say cryptocurrencies such as Bitcoin are speculative assets, not sustainable, usable money.

Yet the epidemic of hugely disruptive ransomware attacks in recent months – on JBS foods, a major meat processor; on Colonial Pipelines, our critical infrastructure, causing gasoline shortages for weeks; and on 1,000 or more U.S. businesses on July 4 – highlights the enormous risks. Moreover, hundreds of small towns, hospitals, school districts and small businesses have been hit by the ransomware epidemic — all enabled by cryptocurrencies.

How should governments respond? Besieged with cyberattacks, the Biden administration has been struggling with this question of cybersecurity with few clear answers: cyber offense still seems to beat cyber defense.


As the eminent economic analyst Martin Wolf outlined in a recent Financial Times essay, the risks and chaos of a wild world of unstable private money is a libertarian fantasy. According to a recent Federal Reserve paper, there are already some 8,000 cryptocurrencies. It’s a new mom-and-pop cottage industry.

How should governments respond? Wolf argues that central banks (e.g. the U.S. Federal Reserve) should create their own official digital currencies — central bank digital currencies (CBDC) and make crypto currencies illegal.

 
I’ve been asking the same question: Who needs cryptocurrencies? Apart from the nasty uses and wild speculative value swings, data mining to produce Bitcoin is a serious environmental hazard, using huge amounts of electricity by rows and rows of computers.

Governments should guarantee safe, stable and usable money. Already, according to the Atlantic Council’s Geo-economic Center CBDC Monitor, 81 countries representing 90 percent of world GDP are at various stages of researching and exploring the adoption digital currencies — whether to stop printing money and instead produce digital coins.

The four largest central banks – the European Central Bank, the Bank of England, the Bank of Japan and the U.S. Federal Reserve – are all exploring CBDC’s, though the U.S. lags behind. Meanwhile, China is already digitizing its currency, the RMB, and allowing foreign visitors to use it for payments. Though China is still a long way from having an international reserve currency to rival the dollar, its digitized RMB is a step in that direction.

 
 
 
For now, there are a whole lot more questions than answers. But the insidious new industry of cyber hacking and ransomware is an unacceptable disruptive threat to American economic security. It is a problem that is growing, not subsiding. And the proliferation of do-it-yourself digital currencies is a serious and bad omen for global financial stability.

Yet amid an international order that is fraying and fragmenting, it’s an open question whether such threats are enough to catalyze sufficient international cooperation. But I suspect that with a little U.S. leadership, jump-starting financial diplomacy would go a long way. Certainly, it’s a good test for President Biden’s efforts to align democracies


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atfrico
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Re: Cryptocurrency needs to die - for the good of all. 2021/07/25 11:15:14 (permalink)
aka_STEVE_b
Bye-bye Bitcoin: It's time to ban crypto currencies | TheHill
 
I've provided plenty of proof the current form of crypto needs to go , even some of it's originators have agreed as well - but here is another good article on it.
 
 
 
I’ve never quite understood why cryptocurrencies are worth anything. Of course, the untraceable payments are worth a lot to ransomware hackers, cyber criminals and money launderers. But dollars, euros and yen are backed by nations’ respective treasuries. If someone invents a crypto currency, any value is based solely on convincing others it has value. But is it a usable means of exchange? International banking officials say cryptocurrencies such as Bitcoin are speculative assets, not sustainable, usable money.

Yet the epidemic of hugely disruptive ransomware attacks in recent months – on JBS foods, a major meat processor; on Colonial Pipelines, our critical infrastructure, causing gasoline shortages for weeks; and on 1,000 or more U.S. businesses on July 4 – highlights the enormous risks. Moreover, hundreds of small towns, hospitals, school districts and small businesses have been hit by the ransomware epidemic — all enabled by cryptocurrencies.

How should governments respond? Besieged with cyberattacks, the Biden administration has been struggling with this question of cybersecurity with few clear answers: cyber offense still seems to beat cyber defense.


As the eminent economic analyst Martin Wolf outlined in a recent Financial Times essay, the risks and chaos of a wild world of unstable private money is a libertarian fantasy. According to a recent Federal Reserve paper, there are already some 8,000 cryptocurrencies. It’s a new mom-and-pop cottage industry.

How should governments respond? Wolf argues that central banks (e.g. the U.S. Federal Reserve) should create their own official digital currencies — central bank digital currencies (CBDC) and make crypto currencies illegal.

 
I’ve been asking the same question: Who needs cryptocurrencies? Apart from the nasty uses and wild speculative value swings, data mining to produce Bitcoin is a serious environmental hazard, using huge amounts of electricity by rows and rows of computers.

Governments should guarantee safe, stable and usable money. Already, according to the Atlantic Council’s Geo-economic Center CBDC Monitor, 81 countries representing 90 percent of world GDP are at various stages of researching and exploring the adoption digital currencies — whether to stop printing money and instead produce digital coins.

The four largest central banks – the European Central Bank, the Bank of England, the Bank of Japan and the U.S. Federal Reserve – are all exploring CBDC’s, though the U.S. lags behind. Meanwhile, China is already digitizing its currency, the RMB, and allowing foreign visitors to use it for payments. Though China is still a long way from having an international reserve currency to rival the dollar, its digitized RMB is a step in that direction.

 
 
 
For now, there are a whole lot more questions than answers. But the insidious new industry of cyber hacking and ransomware is an unacceptable disruptive threat to American economic security. It is a problem that is growing, not subsiding. And the proliferation of do-it-yourself digital currencies is a serious and bad omen for global financial stability.

Yet amid an international order that is fraying and fragmenting, it’s an open question whether such threats are enough to catalyze sufficient international cooperation. But I suspect that with a little U.S. leadership, jump-starting financial diplomacy would go a long way. Certainly, it’s a good test for President Biden’s efforts to align democracies




 
 
 

Those who abuse power, are nothing but scumbags! The challenge of power is how to use it and not abuse it. The abuse of power that seems to create the most unhappiness is when a person uses personal power to get ahead without regards to the welfare of others, people are obsessed with it. You can take a nice person and turn them into a slob, into an insane being, craving power, destroying anything that stands in their way.
 
 
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MasterMiner
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Re: Cryptocurrency needs to die - for the good of all. 2021/07/25 19:27:37 (permalink)
Grey_Beard
What?!?? Human evolution and well being?!?! Dramatic much? You and the other guy should co-write that book. His intellectual prowess and your dramatic license, now that’s a winning combination. NYT best seller!

Hey Chicken Little, are you sure this time.

It’s not like any of these stances are new. Remember when the debt was 50% of GDP? Maybe most of you are too young to even know that was a thing. Was it not going to be unsustainable then? Heck Japan has had 150% of GDP in debt for decades. Has their economy collapsed? Their currency keeps rolling strong. Why is that? Well let me explain it to you. Most of the debt for the US and Japan is owed by their own people. That is not a problem. It is wise to invest in yourself. Do you not do that when you get a degree, but a new suit, heck build a mew PC? You act like debt is some boogieman. Oh no, Mr Bill, there’s Sluggo the Debt Guy. Oooooohhhh Nnnnnooo! He is 100% of GDP! Oooooohhhhhhh Nnnnnnnooooooo!

Show me one economy that imploded or failed and left that nation in ruin because of debt. I will await your response.

As I have said earlier, it’s about CONFIDENCE. The dollar, the yen, the US and Japan’s monetary systems have it and crypto-Butcoin does not. Very simple.

Cannot wait for the next Chicken Little prediction telling us the monetary system is about to collapse. I guess you’ll tell me so when that happens, but unfortunately, this forum will not be functioning because the monetary system collapsed. HHHHHHAAAAAAAAA!!!!!!!!


Nations can survive high debt-to-gdp…

Empire’s cannot

(Spain, Portugal, France, The Netherlands… The UK…)
post edited by MasterMiner - 2021/07/25 19:29:56

I used to mine. Now I compute.
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Re: Cryptocurrency needs to die - for the good of all. 2021/07/25 19:42:23 (permalink)
China’s reminbi, yuan, whatever’s you want to call it - will end up being the currency of settlement for 1/2 the world in a few years… the other 1/2 will stick with the USD.

Yuan has a much higher % of settlement than reported because the country’s that are settling in the yuan have no reporting requirements. Probably 20% of global trade is settled in CNY, possibly higher. How would western banks know about any of it?

If the CNY the SETTLEMENT of a transaction, no USD banks need be involved. No way of knowing any of it unless China feels like self reporting.

China has its own payment infrastructure and no need for SWIFT to be involved either.

Crypto currencies have become irrelevant for that very reason. The “digital yuan”, for all intents and purposes, is already here.

I used to mine. Now I compute.
Xavier Zepherious
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Re: Cryptocurrency needs to die - for the good of all. 2021/07/25 23:40:00 (permalink)
BTC is  up 10k like in 4 days
 
City A.M. has reported retail giant Amazon is looking to accept bitcoin payments by year’s end and is considering minting its own token by 2022
post edited by Xavier Zepherious - 2021/07/25 23:43:34


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Re: Cryptocurrency needs to die - for the good of all. 2021/07/26 09:40:08 (permalink)
yeah, with amazon jumping in the pic soon.... I can forget about getting a gpu at 
fair prices from here on out .... for years...  crypto on the rise again...
 
might be forced to go back to gaming console.... yuck.... 
or just keep on playing older games @ 1080 p  
 

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Re: Cryptocurrency needs to die - for the good of all. 2021/07/27 04:45:27 (permalink)
Xavier Zepherious
BTC is  up 10k like in 4 days
 
City A.M. has reported retail giant Amazon is looking to accept bitcoin payments by year’s end and is considering minting its own token by 2022



As expected with Crypto & the Shadow Goon squad criminals who run it - this has been proven quickly this time to be more lies used to bolster their losses for a quick spike in prices -
 
https://finance.yahoo.com/news/amazon-no-no-plans-accept-214928543.html
https://www.thestreet.com/crypto/news/amazon-denies-crypto-acceptance-rumor
https://www.reuters.com/article/amazon-cryptocurrency/amazon-denies-report-of-accepting-bitcoin-as-payment-idUSL4N2P23OT
 
 
Even Elon Musk loves making a buck off it by changing his mind repeatedly about accepting bitcoin for payments ,...purposely making it rise & fall every time he opens his mouth about it.
 
https://www.nbcnews.com/t...accept-bitcoin-rcna918
 

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Flint 1760
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Re: Cryptocurrency needs to die - for the good of all. 2021/07/27 08:08:44 (permalink)
In the securities or commodities market, securities and commodities manipulation is illegal under various statutes.  With cryptocurrencies, it is Tuesday.
post edited by Flint 1760 - 2021/07/27 10:04:16


Xavier Zepherious
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Re: Cryptocurrency needs to die - for the good of all. 2021/08/02 10:03:14 (permalink)
Mastercard Outlines Plans for Cryptocurrencies, Stablecoins, Central Bank Digital Currencies 
 
https://news.bitcoin.com/...nk-digital-currencies/
 
 
New Crypto Bill in US Congress Is the Most Comprehensive Yet
 
The 58-page “Digital Asset Market Structure and Investor Protection Act,” which Beyer introduced Thursday, seeks to create an exhaustive regulatory regime for digital assets. It would do so in part by defining which sorts of cryptocurrencies might be securities, which can be treated as commodities, and bolster tax data collecting for reporting purposes.
 
https://www.coindesk.com/...most-comprehensive-yet
post edited by Xavier Zepherious - 2021/08/02 10:05:38


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Xavier Zepherious
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Re: Cryptocurrency needs to die - for the good of all. 2021/08/04 12:36:31 (permalink)
Cryptocurrency Gaining Mainstream Interest as Payment Option: Report
 
Cryptocurrency is gaining mainstream traction among consumers who want to use it for purchases, according to a new report. Out of more than 8,000 U.S. consumers surveyed, 93% of crypto users would make purchases with cryptocurrency in the future.

Growing Number of People Want to Pay With Cryptocurrencies

A new report titled “The Cryptocurrency Payments Playbook: Cryptocurrencies Gain Momentum As A Payment Option” published by Pymnts and Bitpay shows that consumers are increasingly interested in using cryptocurrencies for payments.
“The report analyzes a census-balanced survey of 8,008 U.S. consumers who were current and former cryptocurrency owners and cryptocurrency nonowners between Feb. 8 and Feb. 23, 2021,” it details, adding:
 
Interest in cryptocurrency is gaining mainstream traction among consumers who would like to use it for purchases.
 
https://news.bitcoin.com/cryptocurrency-gaining-mainstream-interest-as-payment-option-report/
 
 
Payments Giant NCR Acquiring Libertyx to Offer Complete Crypto Solution
 
https://news.bitcoin.com/payments-giant-ncr-acquiring-libertyx-complete-crypto-solution/
 
 
 

Quiznos Sandwich Chain to Launch Bitcoin Payment Pilot Program

 
https://www.coindesk.com/...-bitcoin-payment-pilot


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Xavier Zepherious
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Re: Cryptocurrency needs to die - for the good of all. 2021/08/18 18:06:23 (permalink)
walmart looking at using Bitcoin
 
Walmart, the world’s largest retailer, is hiring a “digital currency and cryptocurrency product lead.” The company says it “enables broad set of payment options for its customers” and is developing a “digital currency strategy and product roadmap.”
 
 
https://news.bitcoin.com/...ncy-strategy-products/


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atfrico
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Re: Cryptocurrency needs to die - for the good of all. 2021/08/18 18:17:06 (permalink)
Yes yes let them use it and they will fail like many before them..muahahaha.
Dibs on saying that in advance😼

Those who abuse power, are nothing but scumbags! The challenge of power is how to use it and not abuse it. The abuse of power that seems to create the most unhappiness is when a person uses personal power to get ahead without regards to the welfare of others, people are obsessed with it. You can take a nice person and turn them into a slob, into an insane being, craving power, destroying anything that stands in their way.
 
 
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Lerpzu
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Re: Cryptocurrency needs to die - for the good of all. 2021/08/23 23:53:25 (permalink)
Crypto mining needs complete rework and balancing patch. Currently we use too much electricity to make just a couple of bucks.
 
The greed needs to stop! Crypto bad, nature good!
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