Crypto FUD Exposed: Chinese Bitcoin Miners Are Going Broke
DTube would not let me publish today.
On today’s episode of The Cryptoverse…
Bitcoin Mining 0:52
Bakkt Delay 8:24
UK Ban CFDs 10:18
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You are the FUDmaster. I can't always figure out the reasons why some particular piece of bad news is disturbing, but I can always count on you to provide documents to support your views. Even when I track down the charts, you still need skills to interpret them. Lacking the latter, I simply appreciate your giving them clarity all the more.
Well said. I agree 👍
On the article and tweet that you used to expose the FUD, you’re right that it all comes down to the motivations driving the activity. One must constantly ask one’s self the following question:
Unfortunately, we humans are horrible at doing this with any consistency. We ruin it with our own motivations! Our own confirmation bias, our own shadows and our search for ourselves in what we see clouds the truth everywhere.
Even your own headline states that Chinese Bitcoin Miners are Going Broke. You didn’t use quotes around that statement. So is that statement the FUD that’s exposed, and you’re correcting it? Or did you expose some FUD, and what you stated in the headline is the actual truth? Either way, you have now put out into the crypto sphere a headline that perpetuates and confirms the idea that “Chinese Bitcoin Miners Are Going Broke”. If someone hadn’t heard that phrase, they have now, and since it wasn’t in quotes to tie it to FUD statement, it’s less clear that it’s not just the second story in your vlog or the supposed FUD
On the CFD and derivatives piece, I wholeheartedly agree with you. While it would undoubtedly benefit me personally if crypto derivatives were built, and huge bubbles were built on top of these coins and tokens, and prices skyrocketed, and those of us who got in early reaped huge rewards, that’s just not what I want and it’s not what we need. Replacing our current broken system with a new broken system or just changing out the guard with new corrupt paper pushers doesn’t help anything.
I’m glad for you bringing this up and keeping it relevant.
Very sad that DTube would not let you publish today... \n\nThank you for laying out the facts of the Bitcoin mining algorithm!
It is on his YouTube channel, The Cryptoverse.
Great Anti-FUD-dote. Thanks, Chris. Good and suitable education keeps you sane and in charge. (As you display day to day.)
Thanks Chris, informative as always. Think this is the 2nd or 3rd time you've had to explain the mining situation :-) :-). Ban all CFDs for crypto - it's already caused chaos in the traditional market!!
Tuned in for another great show after stuffing myself with turkey.
Thank you for laying out a video today. Great info! I know you came out to Vegas awhile back. Are you going to come back to the states again? It would be great to meet you. It's hard to meet crypto like minded people. My family and friends thinks I'm crazy getting involved with bitcoin. LOL! Cheers mate!
Why would it be a lot healthier to ban derivatives from the financial system? Shorting is just as normal as going long. Financial markets can go 3 ways: up, down or sideways.
http://demonocracy.info
Interesting that the economics of bitcoin are similar to those of commodities as the participants fluctuate supply based on demand like many other commodities. I am surprised the CFTC has not wanted to take over more of the regulation due to this fact...
Hi Chris!
Such videos of miners being dropped are always expected in FUD times. Moreover, perhaps the video is not even new.
As you say, these were perhaps being recycled. Doesn't seem to be the best way to be recycled though, but still, the lack of context leaves room to any sort of interpretation.