Do you have anything you can back this statement with?
1 Like
Mining is very popular in parts of China where electricity is cheaper. Electricity is cheap when you’re getting it from free sources and just using machinery to convert it. For example, Iceland Geothermal Energy or Sichuan’s Hydro
Average energy mix doesn’t mean much, when actual areas where things are done is not a representative of the average
For the sake of transparency
Apparently the study counted it as “at any time” using renewable energy, with 40% being generated solely from. But another 30+% of that is natural gas, which means 70% is pretty much harmless as far as I’m concerned (iirc gas produces water as a waste product and everything else just evaporates into where it was before?)
Does anyone use a cold wallet 
Thinking about getting one.
I’ve looked at software wallets but thinking prob best to go down the cold wallet storage options. I don’t need instant access given I’m just planning on building up my collection.
At least with the cold wallet options you can quickly get to your investment to sell off, just not as quick as having them in the exchanges wallet.
Do a paper one. No cost, other than printing. Protect it well though, paper burns very easily 
1 Like
Yeah I did look at a paper one, I was more intrigued by the technology of the hardware ones. Paper is low tech and works I suppose though
I use a cold wallet but I seem to have misplaced it in my house
Need to find it at some point, in the future I’d recommend a Ledger
Yeah I actually bookmarked that website earlier on today after scanning through it. Might just do a paper one for a few months, and then move to something like that.
Which platforms are you using?
Crypto.com and Celsius, I prefer Celsius
Celsius are giving a $40 bonus (in BTC) if you deposit $400 equiv (in any crypto) within 30 days of sign up actually, if you’re referred by someone
You have to maintain the balance for a while, but they’re already profitable because they let corporates leverage their crypto for a low interest rate and its leveraged against assets + overcollateralised, so there’s no worry about it disappearing
They’re also working on an insurance fund right now, since because they loan when your funds are on loan to someone they aren’t insured currently
2 Likes
You do have to trust they operate in the way they claim though. I don’t think there’s any recourse if they don’t live up to their word. Not just Celsius, any crypto lending platform.
Well, I take a lot of care and do due diligence on crypto platforms
Celsius have partnerships with large project such as LINK and several other reputable companies and projects
Their business model makes sense: loans are overcollateralised so there’s no risk to Celsius, they liquidate assets if you don’t margin call your loan if the value goes below max collateralisation (if this makes sense)
They pay interest on time, they don’t have any barriers to withdrawal which aren’t set by you (besides you get an email to alert you of new addresses added to your account and must wait 24hrs AFAIK)
Their security is excellent, as far as I’m concerned (this is technically my field, I guess), they have BitGo insurance on assets iirc (that aren’t loaned out, meaning they’ll be held securely, offline and have been vetted)
They have a HODL mode, which imagine as the gambling block for Starling. It stops you from selling early after seeing a major price drop, as it takes a day or two before you can withdraw after you disable it.
They have one withdrawal address per currency and you need to verify them
They also have 2FA via TOTP
There was actually a Nobel prize winning economist who said he’s said Bitcoin will die several times now but has given up on it, calling it “a cult that’ll never go away” as every time the bubble pops, it just comes back again
Which is funny
Until you lose your entire investment, then I guess it’s just c’est la vie…
Dips are just artificial low points created for people with diamond hands to lower their average cost so they can see upside on the next cult wave
You lost me just after ‘Dips’
They lost me at this bit:
Is this the crypto delusion?
1 Like
This is literally a joke; albeit an inside joke between me and a friend so I guess I shouldn’t have expected you to get it
btfd.
dca.
stack sats.
hodl.
This group of actions doesn’t transpire into the usual banking world, but it makes the most sense out of all the crypto nonsense. Think of it as investing with some meme words attached which mean nothing really. I’ll translate:
btfd = Buy dropping crypto because it will likely rise* (buy the f______ dip)
dca = dollar cost averaging - deposit a fixed amount** of fiat into an exchange at regular intervals to help smooth out the loss/gain curve and get rid of the worry of watching those performance curves change in real time.
stack sats = slowly build up investment by buying Satoshis rather than Bitcoins - in other words, don’t invest too much, but build in small amounts***
hodl = whatever you have in your crypto portfolio, hold on to it for dear life. Do not trade Bitcoin or Ether or Stellar or [insert your preferred crypto] for anything else on any exchange - including fiat****
- a rise in crypto is not guaranteed. Not Financial Advice.
** purchase only what you can afford to lose. Not Financial Advice.
*** build slowly. Not Financial Advice.
**** leaving a reasonable and affordable amount of purchased crypto in a cold wallet and forgetting about it is the best strategy. One day, years later, you’ll have a pleasant surprise or a ‘oh well’ moment, or anything in-between. Not Financial Advice.
It’s like gambling, but the house can lose in certain circumstances.
1 Like
/shrug
To me they are just better savings accounts (for stablecoins) and a potential upside for investments. I only put money in I can lose
I’m not one of those people riding off the back of coins that have no merits, I understand the technology behind it somewhat and crypto is a lot more than projects destined to fail
For instance Ethereum is a great example, lots of practical uses, same with Solana and Cardano
Web3 is especially interesting because a truly decentralised web could potentially speak wonders for how we all interact with each other, while giving the people investing in the coins a hefty profit along the way
When Etherium reboots their blockchain structure from proof-of-work to proof-of-stake, it’ll escalate and round 3 of crypto FUD will kick-off:
- Round 1 FUD, aka ‘criminals use bitcoin’
- Round 2 FUD, aka ‘too much power is used to mine bitcoin, it’s a risk to the environment’
- Round 3 FUD, aka ‘you’ll lose your money because you can’t trust it like you can a bank’