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Charting the course of XRP


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I am going to be REALLY pissed if this Ripple case doesn't settle in time because here is what I see happening, and I would like to have some side money available to take a short position on it...

We are just starting to see the start of regulators going after crypto mining companies (among other parts of crypto of course), and I believe we're teetering on the edge of a major case or investigation into the mining operations behind BTC and ETH. This announcement would inevitably trigger a massive sell off of those two assets and mark the start of another long bear winter, most likely. 

Example 1 - MARA: https://www.yahoo.com/entertainment/marathon-digital-receives-sec-subpoena-184035131.html

I obviously hate that XRP is being  suppressed by the SEC at the same time because I would take a portion of my XRP profits to make this bet. 

Why do I think this? 

We are in the middle of a global chip shortage that is rightly gaining A LOT of mainstream and investor attention. It is causing major supply chain crunches across the global economy that touches a variety of global industries. 

Example 2 - General Motors: https://nypost.com/2021/11/15/general-motors-revoking-heated-seat-option-due-to-chip-shortage/

I do know that crypto mining does not require all types of these chips so you can't say that chips for heated seats in vehicles are being directly affected by crypto mining, as an example. But, we know that the Biden administration wants to know more about the issues with the global chip shortage because they have been asking the manufacturers directly for information about who is buying them up, etc. SO far they are getting very little back...

Example 3 - TSMC: https://www.bloomberg.com/news/articles/2021-10-07/tsmc-leads-pushback-in-taiwan-against-biden-s-chip-data-bid

IF, and this is just a big IF, it was to come out that this global chip shortage is largely caused by BTC and ETH mining operations, the regulators will be out for blood, as in will try to kill crypto mining for good. Once they start putting resources into investigating these operations, my assumptions are that they would expose highly centralized operations run by just a few groups and companies. 

For BTC, it would still be tough to kill it because there is no company or founders to go after, but boy they could do some damage to the narrative. 

For ETH, I think the prospects could be much worse. There is a foundation, there are founders, and Consensys is effectively to ethereum what Ripple is to XRP. If, and I don't think this would be shocking, it was discovered that ethereum mining operations had been funneling money up to the top in order to fund development and artificially inflate the price...say goodnight Kevin. 

Example 4 - Consensys/AMD (major chip manufacturer) mining operations: https://cointelegraph.com/news/amd-and-consensys-blockchain-data-center-venture-gets-20m-of-seed-funding

Example 5 - Novogratz mining operations: https://www.coindesk.com/business/2021/09/24/bitcoin-mining-firm-fortress-names-ex-galaxy-digital-exec-as-new-ceo/

https://www.yahoo.com/now/coreweave-raises-50m-fund-magnetar-140000643.html

Conclusion: BTC mining is environmentally destructive and economically wasteful. Ethereum mining is a complete fraud organized and operated by Ethereum's founders. America is the next major country to ban crypto mining. I rest my case.  

 

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And how do I think Lubin and those fraudsters are prepping for this? 

By mining and staking as much ETH as possible ahead of 2.0. If they are effectively generating and holding all of the ETH, and then staking it, then it can't have a major sell off. 

I wonder if Jamie Dimon knows who he really got in bed with this time. 

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1 hour ago, Julian_Williams said:

Sologenic - 24 December one .2 tokens per XRP (Crypto Eri said) - sologenic is worth 2.9 currently which would be 60 cents per XRP!  So it is huge.  You can also buy Solgenic, which I think is 1 for 1.

Either way it is huge (if I heard Crypto Eri correctly)

This is where that .2 came from, but that is speculative because it depends on how many participate in the airdrop

FEAr8mTVcAQl6gi?format=jpg&name=large

 

Full details:

https://blog.sologenic.org/2021/11/05/sologenic-solo-airdrop-guidelines-faq/

 

Just to temper this a bit (and a minor nitpick)

  • The snapshot is in December, but the airdrop is in January. I don't know for sure what the intent is, but it is nice that I don't have to worry about taxes until April 2023.
  • The airdrop effectively amounts to 50% inflation (200M on top of existing 400M). So if it is ~$2.5 (the spread is pretty high at almost 40% on the DEX) today, we can expect the price to go down to $1.8 or similarly against XRP.

Let's see how many trustlines we'll see but overall I agree that this is a sizable airdrop. 

 

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2 hours ago, RipMcGillicuddy said:

BTC mining is environmentally destructive and economically wasteful.

A good destraction from economically greatful products but times environmently destructive things 🤣🤣🤣

Edited by xrp-nuke
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5 minutes ago, RipMcGillicuddy said:

I never quite know what you are getting at, but go on. 

You moan about BTC and ETH but they produced more wealth to others than anything else printed in China. Proof of Work. But yeah, environment, electricity, new taxes to save world 🤣🤣🤣

Keep going.

All in all devirsify and enjoy profits.

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4 minutes ago, xrp-nuke said:

You moan about BTC and ETH but they produced more wealth to others than anything else printed in China. Proof of Work. But yeah, environment, electricity, new taxes to save world 🤣🤣🤣

Keep going.

All in all devirsify and enjoy profits.

LOL, I wasn't moaning about shit. Just presenting a fun theory of what I think could lead to the next cliff and bear market. Cool your jets, bro. 

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2 hours ago, RipMcGillicuddy said:

 

Conclusion: BTC mining is environmentally destructive and economically wasteful. Ethereum mining is a complete fraud organized and operated by Ethereum's founders. America is the next major country to ban crypto mining. I rest my case.  

 

 

Conventional mining with large, loud, hot and energy consuming mining rigs is sooooooo 2020.

 

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12 minutes ago, RipMcGillicuddy said:

It's amazing how a couple of posters have such an ability to take complex conversations and boil them down to single sentence responses, all while bypassing nearly the entirety of the complex subject. 

It's so funny to see someone who's about to explode from curiosity.:lol:

Conventional mining rigs suck between 500 and 3500 watts an hour, and are loud and hot as a hair dryer on steroids and cost a few grand to purchase.  But at the beginning of this year i ran into a mining rig that works with a DBI antenna, and makes no noise at at and only uses 5 watts an hour, so that's 100 all the way up to 700 times less energy consuming than those large power hungry big rigs.

Edited by retep
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Just now, retep said:

It's so funny to see someone who's about to explode from curiosity.:lol:

Conventional mining rigs suck between 500 and 3500 watts an hour, and are loud and hot as a hair dryer on steroids
and cost a few grand to purchase.  But at the beginning of this year i ran into a mining rig that works with a DBI antenna,
and makes no noise at at and only uses 5 watts an hour, so that's 100 all the way up to 700 times less energy consuming
than those large power hungry big rigs.

Any insight into the chip shortage, or the mining operations at facilities with thousands of rigs lined up together?

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1 hour ago, RipMcGillicuddy said:

LOL, I wasn't moaning about shit. Just presenting a fun theory of what I think could lead to the next cliff and bear market. Cool your jets, bro. 

I agree that US is possibly a biggest hit for cryptocurrencies. And its not only about mining but as-well broken tax framework.

🥺

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1 minute ago, RipMcGillicuddy said:

Any insight into the chip shortage, or the mining operations at facilities with thousands of rigs lined up together?

yeah i know those large mining farms, and that's why i think that DBI antenna miners are the future. And the chip shortage
is the fault of the west, because the most chips are made by just one company in taiwan, so how in earth's name
can the west make itself sooooooooooo dependable on that single company?? And the most worst part is that china
want's to claim taiwan as a provence of china, so when a damn war would break out, the only thing china needs
 to do is drop  bomb on that one and only factory and then the whole world is screwed and being dropped back 50 years in time!  "so these pair of new trousers you want? Well let me find a pencil and write you a receipt". 

Well, when that happens, i'm going to put all my money in paperrrrr!!!!

 

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