Random thoughts on a very busy day in crypto….
I’ve been seeing occasional random mentions of used crypto ‘mining’ computer parts, particularly gpu’s, being dumped on the market.
Beyond Dave Troy, (who is a bit of a conspiracy theorist) I do not follow the market, nor am I familiar with all the accounts I bump into. It may be something to keep a pin on, though.
I am also wondering at what point “crypto-mining” becomes unprofitable.
Getting past the point now where mining is profitable or sustainable… so it may well stop, furthering the death spiral. And then there’s the Fed.
— Dave Troy 🌻 (@davetroy) June 12, 2022
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“Fire in the hole!”https://t.co/yeTEOO4xT1
— Dave Troy 🌻 (@davetroy) June 13, 2022
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Also:
Six days ago, two Senators (@SenGillibrand and @SenLummis) went on national TV and endorsed investing retirement funds in #Bitcoin
Since then, BITCOIN IS DOWN MORE THAN 25%
Worse, neither Senator disclosed their financial ties to the cypto industry
Follow along if interested https://t.co/G22pLIRkSg— Judd Legum (@JuddLegum) June 13, 2022