Tuesday, March 17, 2020

My $50 /r/poker freeroll had 191 players! The next one will be the same time tomorrow (on Wednesday)

This tournament is open to everyone regardless of jurisdiction. You don't need to register an account on the site in advance.

I decided to run the tournament based on the positive responses to my thread from yesterday. The tournament ended up being MUCH more successful than I imagined, with 191 players participating. I confirmed with /u/BlockchainPoker that this was the most players of any tournament in the site's history.

Congratulations to user bone call for taking first place! Here's a replay of the final hand of the tournament: https://blockchain.poker/#/history?hand=8b2bf59ec5143a454c030383a66fc8cb

To keep the momentum going, I'm organizing another tournament for the same time today. Details below:

Time: Wednesday March 18 (TODAY), 7pm PDT, 10pm EDT
Buy-in: Free
Prize pool: 0.25 BCH, currently $45
Password: quarantine
Link: https://blockchain.poker?tournament=8776

Note that if you bust, up to 3 rebuys are allowed within the first 30 minutes of the tournament. A rebuy into a freeroll on this site costs 1/50th of the prize purse, or in this case 0.005 BCH (~$1).

The blind structure on these tournaments is pretty fast. Yesterday's tournament lasted for about 90 minutes. The site has not yet implemented custom blind structures so be aware that it's a pretty fast tournament.

Some people have offered to contribute to future prize pools, and I'm also talking with some Bitcoin-related companies who are interested in sponsoring more prize purses (meaning their logo would be on the table felt), so I'm hoping I can keep these freerolls as a regular thing for a while.


Other Links



A Comprehensive Guide on the Ins and Outs of Bitcoin Halving.

Bitcoin halving is an event that accounts for reducing the reward earned in mining new blocks by half. The next Bitcoin halving is scheduled to take place on 18 May 2020. Read More :- https://www.cryptominerbros.com/impact-of-bitcoin-halving/


[Weekly Report] Stable Progress During the Epidemic

Recently, the global economy has experienced severe fluctuations due to the new crown epidemic, and major capital markets have declined in varying degrees, but these have no impact on the promotion of cooperation between LivesOne and BSV. After the Exchange LVTC for BSV event ended, more members of the BSV community began to pay attention to LivesOne and agreed with our concept, laying the foundation for the deeper and broader cooperation between LivesOne and BSV.

LivesOne chooses BSV as the cooperation in many public chains because it agrees with the concept and development prospect of BSV chain.

The existence of BSV chain is for a more secure and more binding and monitoring blockchain application. In this network, all violations will be recorded and tracked, which is more appropriate to the development of social economy.

BSV is currently developing and expanding rapidly. Last December, it held the China Conference in Beijing, this February it held the UK conference in London, and this September or October it is expected to hold the US Conference in New York. Every meeting will attract many entities to participate in the ecological construction of BSV. BSV finally eliminates all doubts about the feasibility of the public chain and proves the possibility of building large-scale enterprise applications on the bitcoin blockchain.

EHR data migrate to BSV Chain

https://preview.redd.it/sjcikzxmcdn41.png?width=601&format=png&auto=webp&s=aaab40a48700b86078e27c6f581af40060a81422

At the BSV London conference held in February 2020, EHR data as a subsidiary of the National Health Coalition (NHC) announced that it is working with nChain to plan to use the BSV network to cope with the crisis of narcotic drugs, migrate all NHC data on the blockchain, use the BSV chain for healthcare record industry to create a single book, and efforts to achieve the digital medical data.

This will benefit the entire global healthcare system, enable the formation of global electronic healthcare records and facilitate data sharing across the healthcare industry. At the same time, it will help reduce black market drug sales, and efforts to prevent "doctor shopping". By putting all patient data into one system, doctors and the whole healthcare industry can get information directly from the same single point, and patients can decide who access to their own medical data, providing greater control and transparency from pharmaceutical companies to end users. This facilitates information sharing may ultimately reduce drug use rates and illegal drug sales. Blockchain can share patient data with multiple parties on the premise of ensuring patient privacy, which can completely solve one of the biggest pain points in the medical industry.

Seafood data migrate to BSV Chain

https://preview.redd.it/jd2u9mypbdn41.png?width=800&format=png&auto=webp&s=f60e2535d2b1fb87214e8a0c517015d21d2e0459

At the BSV conference in London, the blockchain supply management company UNISOT announced that it has officially launched SeafoodChain. UNISOT CEO Stephan Nilsson said that the solution will track the origin of seafood "from sea to plate" and will cover UNISOT ’s entire supply chain from ocean to land. It will bring all the entities in the seafood industry and provide greater transparency and credibility in the seafood industry's operations. This makes operations more efficient and helps companies reduce costs, making them more conducive to positive business growth.

BSV recognizes that Bitcoin is transparent and regulated. The EHR and SeafoodChain projects clearly show the true value of the blockchain. BSV provides all businesses with the winning ingredients to strengthen their activities with a data solution that reduces fraud and streamlines operations. This cooperation shows the value of blockchain for correct data management and storage. We would like to see more industries and organizations make the same decisions as them, adopting blockchain in their daily operations.

At present, the global financial market is struggling. In such an environment, there will be a good future only by doing a good job in ecological construction. We continue to work hard !

Symbiosism Economy Foundation

Mar.18th, 2020


A Comprehensive Guide on the Ins and Outs of Bitcoin Halving.

Bitcoin halving is an event that accounts for reducing the reward earned in mining new blocks by half. The next Bitcoin halving is scheduled to take place on 18 May 2020. Read More :- https://www.cryptominerbros.com/impact-of-bitcoin-halving/



[Daily Discussion] Wednesday, March 18, 2020

Thread topics include, but are not limited to:

  • General discussion related to the day's events
  • Technical analysis, trading ideas & strategies
  • Quick questions that do not warrant a separate post

Thread guidelines:

  • Be excellent to each other.
  • Do not make posts outside of the daily thread for the topics mentioned above.

Other ways to interact:


[Altcoin Discussion] Wednesday, March 18, 2020

Thread topics include, but are not limited to:

  • Discussion related to recent events
  • Technical analysis, trading ideas & strategies
  • General questions about altcoins

Thread guidelines:

  • Be excellent to each other.
  • All regular rules for this subreddit apply, except for number 2. This, and only this, thread is exempt from the requirement that all discussion must relate to bitcoin trading.
  • This is for high quality discussion of altcoins. All shilling or obvious pumping/dumping behavior will result in an immediate one day ban. This is your only warning.
  • No discussion about specific ICOs. Established coins only.

If you're not sure what kind of discussion belongs in this thread, here are some example posts. News, TA, and sentiment analysis are great, too.

Other ways to interact:


Bitcoin’s Time Is Now. Don’t Miss It

Bitcoin is, according to some, facing its first great test—whether it can perform as a store of value during a wider market crash.

https://preview.redd.it/sa3rvdfplcn41.jpg?width=2250&format=pjpg&auto=webp&s=2afb2120f653a629e52f31924fda90ad02b2540e

Bitcoin has, by this measure, failed spectacularly. The bitcoin price collapsed in the face of coronavirus-induced chaos, losing around half its value as traditional markets recorded historic falls.

But this isn't make or break for bitcoin: bitcoin's success isn't judged by its price but by its digital scarcity in a time of helicopter money, quantitative easing (QE) and record low interest rates.

Earlier this week, the U.S. Federal Reserve slashed interest rates to almost zero and fired a $1 trillion stimulus bazooka in an attempt to protect the world's largest economy from a coronavirus-induced shutdown.

This followed similar interest rate cuts around the world as governments and central banks scrambled to reassure markets. The rushed action largely failed, with the Dow suffering its worst day since the Black Monday market crash in 1987 and its third-worst day ever.

Today, U.S. Treasury secretary Steven Mnuchin said he was poised to write checks to millions of Americans to try to offsetting the economic burden of the coronavirus pandemic—an unconventional economic stimulus measure that's been popularized recently by some left-leaning economists as universal basic income (UBI) but was once known as helicopter money: freshly-printed cash that appears to drop from the sky into the pockets of the public (a concept some crypto investors will be familiar with).

"We are looking at sending checks to Americans immediately," Mnuchin said, speaking at a a White House press conference. "Americans need cash now, and the president wants to get cash now—and I mean now in the next two weeks."

Elsewhere, Spain is apparently weighing similar helicopter money style stimulus—something that could play havoc with the economically joined-up eurozone.

Many traditional economists dislike helicopter money. They say it's harder to remove from the system and could cause long-term inflation to soar.

The world's central banks are being forced to consider such extreme options due to the lingering effects of the 2008 global financial crisis, with many of their less radical policy tools still in effect.

"The U.S. is about to be addicted to that helicopter money really fast," bitcoin proponent and co-founder of hedge fund Morgan Creek Digital, Anthony Pompliano, said via Twitter.

Meanwhile, some market watchers are worried the broad sell-offs, combined with helicopter money proposals, could cause a cash glut.

"At the moment, what we're seeing from the market is an unprecedented move to cash," said Mati Greenspan, founder of financial advisory firm Quantum Economics.

"Everyone is liquidating everything they can. Once the dust settles, and we start to see how the end of the 'coronacrisis' might look, people are going to be sitting on way too much fiat."

The Fed's latest offering to the market, a special fund to keep credit flowing through the U.S. economy during coronavirus scare, has somewhat satiated investors today.

The Dow, the S&P 500 and the Nasdaq each rose around 5% by the market close. Bitcoin was more-or-less unmoved by the news and has been treading water since taking a big step lower last weekend—hovering around $5,000 per bitcoin.

"Bitcoin is built for these events," said Keld van Schreven, co-founder and managing director at blockchain investment firm KR1.

"Bitcoin, ether and other crypto networks needs no bail out or QE. They just need a handful of servers to run, verify and complete transactions. Bitcoin, ether and other crypto has taken the weakest link (us) out. This only makes it stronger."

Whatever the bitcoin price does, it can't be artificially boosted by central banks or governments—it will only be supported by increased demand.

Bitcoin can't be printed or pasted from a clipboard. Bitcoin is, regardless of its extreme price volatility, consistency in inconsistent times.


3 thinking differences to help you better understand blockchain investment

Although investment in the traditional financial market is called investment, and investment in the blockchain field is also called investment, and with the development and growth of the blockchain industry, many traditional financial institutions have slowly begun to enter the blockchain industry. There are more and more financial products in the chain industry, more and more formal, and there is a tendency to move closer to traditional finance. However, at this stage, the differences between the two are still very large, and they can even be considered to belong to two completely different "worlds".

If you don't realize the difference, and apply the investment thinking of traditional financial markets blindly, you may suffer great losses.

Because I personally have some investments in both markets, I have a deeper understanding of them, so I can more clearly feel the difference between the two. I personally think that traditional financial investment and blockchain investment have three levels of thinking. An important difference.

I. Extreme thinking

What is extreme thinking? To invest in the blockchain industry, you must first assume that the most extreme situation in the market will occur, and be prepared for the worst thinking at any time. In fact, it is more accurate to say that this is not a hypothesis. In the field of blockchain, extreme situations are bound to happen. The extreme thinking here is a bit similar to the "black swan" thinking in traditional finance, but the probability of a black swan event is very low, and it will happen only after a long time. However, the frequency of "black swan" events in the digital currency field is very high. The black swan event was originally used to refer to small-probability events. If the probability of occurrence is high, then the "black swan" is not very accurate, so A more direct term is "extreme thinking."

For example, in the first two days, Bitcoin has fallen by as much as 40% within 24 hours, and the market value of the entire digital currency market has increased by at least 50%. This is unimaginable in the traditional capital market. It is difficult to imagine that the A-share market or the US stock market alone The overall market value of Japan has evaporated by more than 50%. If this is the case, then subsequent financial services such as collateral and pledge based on stock prices will encounter great problems, and the entire financial market may collapse.

Although for the digital currency market, there are not many cases of a single-day drop of 40%, but a single-day drop of 20% and a single-day drop of 10% often occur, and it needs to be treated as a regular event. And 40% is only for Bitcoin. For a single company, a single day drop of more than 60% -70% will also happen.

If it is just barely acceptable to fall sharply, the most unacceptable is zero. Although the stock market also often plummets, it is very rare that it is zero. There are thousands of A-share listed companies, and few of them have finally delisted. The proportion is very low. The blockchain digital currency industry is different. In just a few years, there were thousands of tokens, and these tokens have not undergone rigorous review. Most of them are air coins. 90% of these tokens are finally going to return. Zero.

Because of these differences, investing in the digital currency market should take extreme thinking as the starting point of the entire investment system. You should keep thinking: what extreme situations can happen in the entire market? What should I do if an extreme situation occurs? What happens to the company I invest in? If these extremes happen, can I take them?

Before investing, you should use these possible extreme conditions for stress testing. You must first assume that the broad market is down by 50% a day. How can your investment sustain this time? Obviously, if you want to be able to hold it, then you can not add any leverage; you have to assume that the entire market will continue to slump for 3-4 years, how can you hold it? If you want to handle this situation, then your funds must be long-term, cost-free, and with a little interest, it is likely to drag you down, and you need to be supplemented by a steady flow of off-site cash flow; you have to assume that your This token will be returned to zero for various reasons. Will zeroing be a fatal blow to your investment? If you want to avoid this risk of zeroing, then you must be more careful in selecting the investment target, and at the same time spread your investment more dispersed.

Second, periodic thinking

Another difference in thinking is: To invest in the blockchain space, you need to have a cyclical mindset. The periodicity of the digital currency market is particularly obvious, and according to historical experience, it is a cycle every 4 years. There is also a certain periodicity in the traditional stock market. For example, the financial crisis will break out after a period of time, but it is not absolute. Sometimes the financial crisis occurs once every 5-7 years, sometimes it occurs only once every 10 years. The duration of each time It's not the same, sometimes it ends in a few months, and sometimes it lasts for years or even ten years.

This is very interesting because you know the time of the cycle and you know the general direction of the fluctuations. What's the rarest thing about investing? Information is the most rare and certainty is the rarest. If you accept the term of 4 years cycle, then many of your investment behaviors can be planned in this way, and many investment plans can be adjusted accordingly. If this law holds, this is a very favorable condition for digital currency investment compared to stock investment.

Moreover, the company is behind the stock. Although the market is not good, some companies can grow against the trend and the stock price doubles in the financial crisis. Although the company's stock price has not doubled, its profits are not affected and the dividends continue to be distributed every year. The dividends and fundamentals of these companies were not affected by the financial crisis. At present, digital currencies do not exhibit such characteristics. As long as bitcoin falls, basically all digital currencies fall with bitcoin, it is difficult to maintain their independence, and digital currencies have not landed too much. Business, with energy and no dividends, it is impossible to talk about contrarian growth.

So, for stocks, we talk more about long-term investment; but for digital currencies, is it better to invest in the long-term? Or is it better to adapt to the cycle? This is also a question that every investor needs to think about.

Third, quantitative thinking

Traditional stock investment can be quantified in many ways. There are many data in stock investment, including business data, financial data, market public opinion data, various announcements, etc. These are the basis on which stock investment can be quantified. More critically, stocks can be valued. The valuation theory of stocks is based on a discounted cash flow model. This valuation has theoretical support and is widely accepted by the market. On the basis, the entire capital market was derived, from valuation to financing, from financing to listing, and subsequent follow-up issuance and repurchase formed a complete set of logic, and also produced the most widely accepted investment theory: value investment . However, for digital currency, it has no cash flow. No cash flow means that you cannot accurately value it. Failure to value it means that many theories in traditional finance cannot be applied. If valuation is used as the "anchor" of investment, then digital currency does not have such an "anchor". We need to find other "anchors" to replace it. Otherwise, our investment has no foundation and will fluctuate with market fluctuation Constantly in panic and greed.

Of course, the absence of traditional cash flow does not mean that the market value of its entire digital currency is a bubble. Sooner or later, the digital currency market will form its unique valuation system, but this system has not yet been fully established. In the future, this system will be based on other indicators, such as new account addresses and the number of active users. At that time, the digital currency market can still find its "value anchor".

So, at this point in time, how do we make a good investment in blockchain? I think we can learn from the investment methods of VC and PE. When VCs and PEs invested, they were investing in startups or early stages of the company. At that time, the company had no cash flow and could not be valued. Therefore, VCs created a "track theory": To the best athletes, I will cast the whole track again. For example, if I want to invest in the bike-sharing industry, I will vote for the first 3 companies in the top 3 bike-sharing companies; if I want to take out, I will vote for the first 3 companies Although only one company may succeed and others fail, as long as one company succeeds, it can bring me dozens of times hundreds of times of profit. My profit is sufficient to cover the cost of those losses. The yield is not low.

When investing in the digital currency field, we also need to learn from such an investment method. Even if we are very optimistic about a certain company, we cannot put all of Bao on it, because the uncertainty is too great, and the Black Swan incident is really Too much. What's more, even if this company does a good job itself, for example, a company like Ethereum, but V God is infected with coronavirus, or there are some other unexpected situations, then how will Ethereum go in the future? Not good, does anyone really say it's bad to replace V God. Therefore, no matter how optimistic a project is, we need to find ways to diversify this risk and increase the anti-fragility of investment.

The above are some of my thoughts. I believe that traditional financial market investment and digital currency investment still have more differences in terms of thinking. Welcome friends to communicate with me.


In my city, a sewing and dressmaking workshop makes facial masks to give to people. They need your help to continue

Hello friends, while in Venezuela at the end of the third day of Quarantine in 7 states of the 23 of the country, it has been officially confirmed by the President of Venezuela that the official number of people infected with coronavirus amounts to 36 people infected, for this reason and with the purpose of stopping the spread of the virus in the national territory has decreed quarantine in the 23 states of the country with closure in the limits of each state, no one can leave or enter from one state to another. Between so much anxiety and so much anguish caused by the arrival of the coronavirus in my country, I have seen something very beautiful and very positive, among all the sadness, in my city there is a tailor and sewing workshop in which they are in charge of making flannels and pants that They are marketed in the state of Táchira as well as for export to the border of Colombia and Venezuela, in view of the events of recent days regarding the sale and high price of face masks, they have been given the task of making face masks to give away to The different people from neighboring communities totally free, these face masks are made with materials and fabrics that should be made flannels, but their owners have decided to do face masks as social work and help people with limited resources.

https://imgur.com/xDg3GTG

https://imgur.com/FBGmyAm

https://imgur.com/gQPsTrR

In the first stage, it is expected that they can make around 2000 face masks to be donated and given to people, but they hope to receive donations of both fabrics and money from private companies to be able to carry out a greater number of face masks and be donated to those who do not have the resources to protect themselves from the infectious Coronavirus. Attempts have been made to contact different textile and fabric sales companies to try to request collaboration on fabrics and threads that are necessary to be able to perform face masks.

https://imgur.com/BucKmC0

https://imgur.com/8PiFaRs

https://imgur.com/24hbiM0

I have known about this case through my neighbors and acquaintances whom I have helped with the Bitcoin Cash adoption campaigns, I have decided to visit this tailor and sewing workshop with my father and it has seemed to us a very beautiful and great work heart on the part of the owners of this workshop. We have put ourselves in order to collaborate and likewise talk to you about Bitcoin Cash and I promised to write this publication to make the world known about this initiative to help and contribute in a good way. All the Money raised with this publication will be donated to this sewing workshop to buy fabric, its power to continue making face masks to donate and give to people with limited resources who do not have the money to buy face masks at sale prices. in Pharmacies for 5 dollars. We hope you can collaborate and this workshop can continue giving hope and thus be able to avoid the spread and spread of this virus. Thanks for every contribution made.

https://imgur.com/14NiaRz

Donation:

bitcoincash:qzsmn7lzl087j34n3kx4ptk2a8pwudyg4qetrq55lc


TARKOV COMMUNITY FOR NEW PLAYERS // meet some experience players to help you learn the ropes // giveaways every sunday for millions of roubles // GREAT place to meet new teammates !

Hello fellow Tarkov Players !

I'm inviting you to join this community if you're a NEW PLAYER ! Me and other experience want to help you in raids, so you can learn this game faster

Our goal is to help new players learn the basic of Tarkov, like :

\learning extraction**

\loots location**

\basic control of the game**

\modding weapons**

\quest*,*

and more!

We have multiple way to earn in game items/money by doing different discord event !

- Giveaway : Every 2-3 weeks, we're hosting a giveaway for multiple ingame items (doc case, mag case, keys, money, bitcoins, etc). Learn more about it on discord (link below)

- 300$ giveaway from a sponsor

Join the discord server below if you’d like to get some help. Our experienced members will be happy to help!

PS. We are also looking for experienced players to become sherpa. If interested, please DM me in discord.

Feel free to join :)

https://discord.gg/VnNyezs


BINANCE SUPPORT NUMBER +☎ +1-888-780-0222 || BBINANCE SUPPORT NUMBER ☎ +1-888-780-0222 || ○◙AG♂☻😡🎈💋🌷AGûè║▒▒▒

Right when Binance was an upstart cryptographic money trade new off the rear of its own ICO, its open picture wasn't phenomenally immaculate cut.

Screen gets paying little mind to everything exist of a trade between DigiByte (DGB) society individuals and Binance Director of Business Development Ashley Ouyang, where the DigiByte pack are obviously obliged to help guaranteeing about a trade posting.

The issue was immediate dismissed in the a little piece at a time assembling of media reports, yet following two years it has made in a limited timeframe period. On September twentieth, DigiByte originator Jared Tate uncovered that during a video call with the Binance gathering, he was approached to pay $300,000, other than as 3% of all DigiByte coins so as to at last get DGB recorded.

Binance official CZ has since dismissed Jared Tate's remarks in the way expected of a clamoring CEO, for whom such ludicrousness doesn't legitimize his time.

Anyway if Binance truly were to be closed down in a year, it would reasonably conceivable be a minimal unavoidable postponed outcome of flawed practices like these, as opposed to those referenced by Calvin Ayre.

DigiByte is beginning at now recorded on 80 electronic cash trades, and as appeared by the get-together, not a particular one of those referenced an introducing charge – not on notice 3% of the whole coin supply.

Question: How a dazzling bit of the world's robotized money supply is ensured about up Binance's private vaults? Undermining holds are SAFU.

Ignoring masterminded ringing from regarded figures in the crypto space, the cutoff concerning Binance to discretionarily pick the predetermination of cryptographic money tries stays uncontested. Binance, helmed by its own "Little CZaer", is too huge to even consider evening consider evening consider evening consider evening consider night think as for missing the mark now, and such disregards appear to simply keep away from obviously off it.

Any longing for an inspiration for the DigiBytes of this world may basically be found in the way that Binance, similar to Rome, will fall one day. How much naughtiness is done – and how a lot of cash is removed from weak structure extends in the interim, isn't yet clear.

The world's most discernable crypto trade is going genuine. Binance, which shapes more than $1 billion overall and for such a long time has exemplified crypto's Wild West culture, uncovered that it will dispatch a U.S.- based help — simultaneously, by then, it is executing limitations for U.S. visa holders worldwide and those arranged in the nation.

The coalition has made to get significantly progressively then likely the best name in crypto by permitting anybody to utilize its assistance of exchange swarm tokens, colossal degrees of which are closed off or obliged on different trades. Regardless, over the prior year, Binance has made and started to offer capacity formalized affiliations. Following fiat cash trade dispatches the U.K., Uganda and Singapore, Binance is opening a submitted U.S. trade to keep up a key decent ways from insufficiency around its authenticity.

This week, Binance articulated it is organizing with BAM Trading Services — which Coindesk notes is FinCEN-picked and has relationship with Koi Compliance, which perceives a gander at Binance as an agent — to dispatch a U.S. trade "soon." That will mean, regardless a degree of obstacle for some U.S. clients by then.

On a key level, Binance will never again allow U.S. noticeable check holders to analyze for after its general Binance.com arrangement. That is as showed up by the alliance's resuscitated terms and conditions — "Binance can't offer sorts of help to any U.S. individual" — which were guaranteed to TechCrunch by a star.

Existing clients increment some straightforwardness experiences of 90 days, after which they will be not set up to store tendencies for the site or make exchanges. Binance declined to state whether those bans will be confined by a geo-block on U.S. IP addresses, yet it approved that U.S. clients will hold access to spares held in the alliance.

That 90-day time designation closes September 12, so that is in every way that really matters the cutoff time for Binance to dispatch its new U.S. trade the event that it is to abstain from influencing its American client base.

Everything considered the condition is more nuanced.

U.S.- set up clients could keep concerning utilizing the relationship by destroying the site with a VPN. Binance permits its clients to channel for after a kept record without KYC — for example giving clarification reports like a visa duplicate — which licenses exchanging at any rate compels withdrawals to two Bitcoin reliably. That won't fulfill intelligently proficient shippers — most by a long shot of whom you'd envision would beginning at now have a record on Binance now — at any rate it leaves a stipulation for other people.


[Hire Me] Crypto News Writer

I am a freelance news reporter with a wealth of experience, having written for several news publications such as BlockchainReporter.net, BTCManager.com, and BitcoinExchangeGuide and have written hundreds of news articles in the process. I'm interested in long-term working relationships and offer in-depth research on more complex pieces as well as fast turnaround time for breaking stories. I charge $0.05 per word and accept a wide range of cryptos. My work can be found below and feel free to message for more information.

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What happens to miners if BTC price falls?

Undoubtedly, the first ones to suffer from changing price are individual miners and mining firms. Nowadays the situation has its own peculiarities because of the upcoming Bitcoin halving.

In order to survive halving miners have to upgrade mining equipment. This comes from the necessity to change all the indices, such as hashrate, the consumption and cost of power. Otherwise mining will not be profitable anymore. Thus miners take their time to prepare for the event. Most of them have started around half a year ago.

Right now the situation is complicated by the downward price trend. This price drop makes it highly unprofitable for a lot of players to stay on the market. There is a possibility that if the price does not change the trend, some of the mining firms will have to shut down. Also if the price goes further down in the nearest weeks, we may see some miners to quit already. First of all, this is going to affect smaller miners who do not have enough facilities to wait out the current situation. However, miners who feel threatened by the circumstances may consolidate. Then we will see a decrease in the number of individual miners and small mining firms.


What happens to miners if BTC price falls?

Undoubtedly, the first ones to suffer from changing price are individual miners and mining firms. Nowadays the situation has its own peculiarities because of the upcoming Bitcoin halving.

In order to survive halving miners have to upgrade mining equipment. This comes from the necessity to change all the indices, such as hashrate, the consumption and cost of power. Otherwise mining will not be profitable anymore. Thus miners take their time to prepare for the event. Most of them have started around half a year ago.

Right now the situation is complicated by the downward price trend. This price drop makes it highly unprofitable for a lot of players to stay on the market. There is a possibility that if the price does not change the trend, some of the mining firms will have to shut down. Also if the price goes further down in the nearest weeks, we may see some miners to quit already. First of all, this is going to affect smaller miners who do not have enough facilities to wait out the current situation. However, miners who feel threatened by the circumstances may consolidate. Then we will see a decrease in the number of individual miners and small mining firms.


What happens to miners if BTC price falls?

Undoubtedly, the first ones to suffer from changing price are individual miners and mining firms. Nowadays the situation has its own peculiarities because of the upcoming Bitcoin halving.

In order to survive halving miners have to upgrade mining equipment. This comes from the necessity to change all the indices, such as hashrate, the consumption and cost of power. Otherwise mining will not be profitable anymore. Thus miners take their time to prepare for the event. Most of them have started around half a year ago.

Right now the situation is complicated by the downward price trend. This price drop makes it highly unprofitable for a lot of players to stay on the market. There is a possibility that if the price does not change the trend, some of the mining firms will have to shut down. Also if the price goes further down in the nearest weeks, we may see some miners to quit already. First of all, this is going to affect smaller miners who do not have enough facilities to wait out the current situation. However, miners who feel threatened by the circumstances may consolidate. Then we will see a decrease in the number of individual miners and small mining firms.


What happens to miners if BTC price falls?

Undoubtedly, the first ones to suffer from changing price are individual miners and mining firms. Nowadays the situation has its own peculiarities because of the upcoming Bitcoin halving.

In order to survive halving miners have to upgrade mining equipment. This comes from the necessity to change all the indices, such as hashrate, the consumption and cost of power. Otherwise mining will not be profitable anymore. Thus miners take their time to prepare for the event. Most of them have started around half a year ago.

Right now the situation is complicated by the downward price trend. This price drop makes it highly unprofitable for a lot of players to stay on the market. There is a possibility that if the price does not change the trend, some of the mining firms will have to shut down. Also if the price goes further down in the nearest weeks, we may see some miners to quit already. First of all, this is going to affect smaller miners who do not have enough facilities to wait out the current situation. However, miners who feel threatened by the circumstances may consolidate. Then we will see a decrease in the number of individual miners and small mining firms.


What happens to miners if BTC price falls?

Undoubtedly, the first ones to suffer from changing price are individual miners and mining firms. Nowadays the situation has its own peculiarities because of the upcoming Bitcoin halving.

In order to survive halving miners have to upgrade mining equipment. This comes from the necessity to change all the indices, such as hashrate, the consumption and cost of power. Otherwise, mining will not be profitable anymore. Thus miners take their time to prepare for the event. Most of them have started around half a year ago.

Right now the situation is complicated by the downward price trend. This price drop makes it highly unprofitable for a lot of players to stay on the market. There is a possibility that if the price does not change the trend, some of the mining firms will have to shut down. Also if the price goes further down in the nearest weeks, we may see some miners to quit already. First of all, this is going to affect smaller miners who do not have enough facilities to wait out the current situation. However, miners who feel threatened by the circumstances may consolidate. Then we will see a decrease in the number of individual miners and small mining firms.


What happens to miners if BTC price falls?

Undoubtedly, the first ones to suffer from changing price are individual miners and mining firms. Nowadays the situation has its own peculiarities because of the upcoming Bitcoin halving.

In order to survive halving miners have to upgrade mining equipment. This comes from the necessity to change all the indices, such as hashrate, the consumption and cost of power. Otherwise, mining will not be profitable anymore. Thus miners take their time to prepare for the event. Most of them have started around half a year ago.

Right now the situation is complicated by the downward price trend. This price drop makes it highly unprofitable for a lot of players to stay on the market. There is a possibility that if the price does not change the trend, some of the mining firms will have to shut down. Also if the price goes further down in the nearest weeks, we may see some miners to quit already. First of all, this is going to affect smaller miners who do not have enough facilities to wait out the current situation. However, miners who feel threatened by the circumstances may consolidate. Then we will see a decrease in the number of individual miners and small mining firms.


What happens to miners if BTC price falls?

Undoubtedly, the first ones to suffer from changing price are individual miners and mining firms. Nowadays the situation has its own peculiarities because of the upcoming Bitcoin halving.

In order to survive halving miners have to upgrade mining equipment. This comes from the necessity to change all the indices, such as hashrate, the consumption and cost of power. Otherwise, mining will not be profitable anymore. Thus miners take their time to prepare for the event. Most of them have started around half a year ago.

Right now the situation is complicated by the downward price trend. This price drop makes it highly unprofitable for a lot of players to stay on the market. There is a possibility that if the price does not change the trend, some of the mining firms will have to shut down. Also if the price goes further down in the nearest weeks, we may see some miners to quit already. First of all, this is going to affect smaller miners who do not have enough facilities to wait out the current situation. However, miners who feel threatened by the circumstances may consolidate. Then we will see a decrease in the number of individual miners and small mining firms.


What happens to miners if BTC price falls?

Undoubtedly, the first ones to suffer from changing price are individual miners and mining firms. Nowadays the situation has its own peculiarities because of the upcoming Bitcoin halving.

In order to survive halving miners have to upgrade mining equipment. This comes from the necessity to change all the indices, such as hashrate, the consumption and cost of power. Otherwise, mining will not be profitable anymore. Thus miners take their time to prepare for the event. Most of them have started around half a year ago.

Right now the situation is complicated by the downward price trend. This price drop makes it highly unprofitable for a lot of players to stay on the market. There is a possibility that if the price does not change the trend, some of the mining firms will have to shut down. Also if the price goes further down in the nearest weeks, we may see some miners to quit already. First of all, this is going to affect smaller miners who do not have enough facilities to wait out the current situation. However, miners who feel threatened by the circumstances may consolidate. Then we will see a decrease in the number of individual miners and small mining firms.


What happens to miners if BTC price falls?

Undoubtedly, the first ones to suffer from changing price are individual miners and mining firms. Nowadays the situation has its own peculiarities because of the upcoming Bitcoin halving.

In order to survive halving miners have to upgrade mining equipment. This comes from the necessity to change all the indices, such as hashrate, the consumption and cost of power. Otherwise, mining will not be profitable anymore. Thus miners take their time to prepare for the event. Most of them have started around half a year ago.

Right now the situation is complicated by the downward price trend. This price drop makes it highly unprofitable for a lot of players to stay on the market. There is a possibility that if the price does not change the trend, some of the mining firms will have to shut down. Also if the price goes further down in the nearest weeks, we may see some miners to quit already. First of all, this is going to affect smaller miners who do not have enough facilities to wait out the current situation. However, miners who feel threatened by the circumstances may consolidate. Then we will see a decrease in the number of individual miners and small mining firms.


What happens to miners if BTC price falls?

Undoubtedly, the first ones to suffer from changing price are individual miners and mining firms. Nowadays the situation has its own peculiarities because of the upcoming Bitcoin halving.

In order to survive halving miners have to upgrade mining equipment. This comes from the necessity to change all the indices, such as hashrate, the consumption and cost of power. Otherwise, mining will not be profitable anymore. Thus miners take their time to prepare for the event. Most of them have started around half a year ago.

Right now the situation is complicated by the downward price trend. This price drop makes it highly unprofitable for a lot of players to stay on the market. There is a possibility that if the price does not change the trend, some of the mining firms will have to shut down. Also if the price goes further down in the nearest weeks, we may see some miners to quit already. First of all, this is going to affect smaller miners who do not have enough facilities to wait out the current situation. However, miners who feel threatened by the circumstances may consolidate. Then we will see a decrease in the number of individual miners and small mining firms.


What happens to miners if BTC price falls?

Undoubtedly, the first ones to suffer from changing price are individual miners and mining firms. Nowadays the situation has its own peculiarities because of the upcoming Bitcoin halving.

In order to survive halving miners have to upgrade mining equipment. This comes from the necessity to change all the indices, such as hashrate, the consumption and cost of power. Otherwise, mining will not be profitable anymore. Thus miners take their time to prepare for the event. Most of them have started around half a year ago.

Right now the situation is complicated by the downward price trend. This price drop makes it highly unprofitable for a lot of players to stay on the market. There is a possibility that if the price does not change the trend, some of the mining firms will have to shut down. Also if the price goes further down in the nearest weeks, we may see some miners to quit already. First of all, this is going to affect smaller miners who do not have enough facilities to wait out the current situation. However, miners who feel threatened by the circumstances may consolidate. Then we will see a decrease in the number of individual miners and small mining firms.


Miners in China are disposing old Bitmain S9 miners in readiness for Bitcoin halving, an event that happens every 4 years. The network hash rate has fallen 28% in response.

https://btclights.com/hash-rate-falls-28-as-chinese-miners-dump-old-bitcoin-mining-gear/

Thoughts On The Market Series #1 - The New Normal?

Market Outlook: What to Make of This “New Normal”

By ****\*

March 16, 2020

After an incredibly volatile week – which finished with the Dow Jones Industrial Average rallying over 9% on Friday – I suppose my readers might expect me to be quite upbeat about the markets.

Unfortunately, I persist in my overall pessimistic outlook for stocks, and for the economy in general. Friday’s rally essentially negated Thursday’s sell-off, but I don’t expect it to be the start of a sustained turnaround.

We’re getting a taste of that this morning, with the Dow opening down around 7%. 

This selloff is coming on the back of an emergency interest rate cut by the Federal Reserve of 100 basis points (to 0%-0.25%) on Sunday… along with the announcement of a new quantitative easing program of $700 billion. (I will write about this further over the next several days.)

As I have been writing for many weeks, the financial bubble – which the Fed created by pumping trillions of dollars into the financial system – has popped. It will take some time for the bubble to deflate to sustainable levels.

Today I’ll walk you through what’s going on in the markets and the economy… what I expect going forward and why… and what it means for us as traders. (You’ll see it’s not all bad news.)

Coronavirus’ Strain on the Global Economy

To start, let’s put things in perspective: This asset deflation was coming one way or another. Covid19 (or coronavirus) has simply accelerated the process. 

Major retailers are closing, tourism is getting crushed, universities and schools are sending students home, conventions, sporting events, concerts, and other public gatherings have been cancelled, banks and other financial service firms are going largely virtual, and there has been a massive loss of wealth.

Restaurant data suggests that consumer demand is dropping sharply, and the global travel bans will only worsen the situation.

Commercial real estate is another sector that looks particularly vulnerable. We are almost certain to see a very sharp and pronounced economic slowdown here in the United States, and elsewhere. In fact, I expect a drop of at least 5% of GDP over the next two quarters, which is quite severe by any standard.

Sure, when this cycle is complete, there will be tremendous amounts of pent-up demand by consumers, but for the time being, the consumer is largely on the sidelines.

Of course, the problems aren’t just in the U.S. China’s numbers look awful. In fact, the government there may have to “massage” their numbers a bit to show a positive GDP in the first quarter. Europe’s numbers will also look dreadful, and South Korea’s economy has been hit badly.

All around the world, borders are being shut, all non-essential businesses are being closed, and people in multiple countries are facing a lockdown of historic proportions. The coronavirus is certainly having a powerful impact, and it looks certain that its impact will persist for a while.

Consider global tourism. It added almost $9 trillion to the global economy in 2018, and roughly 320 million jobs. This market is in serious trouble.

Fracking in the U.S. is another business sector that is in a desperate situation. Millions of jobs and tens of billions of loans are now in jeopardy.

The derivative businesses that this sector supports will be likewise devastated as companies are forced to reduce their workforces or shut down due to the collapse in oil prices. This sector’s suffering will probably force banks to book some big losses despite attempts by the government to support this industry.

In a similar way, the derivative businesses that are supported by the universities and colleges across America are going to really suffer.

There are nearly 20 million students in colleges across the U.S. When they go home for spring vacation and do not return, the effect on the local businesses that colleges and university populations support will be devastating.

What does this “new normal” mean going forward? Let’s take a look…

New Normal

The new normal may become increasingly unpleasant for us. We need to be ready to hunker down for quite some time.

Beyond that, the government needs to handle this crisis far better in the future.

The level of stupidity associated with the massive throngs of people trapped in major airports yesterday, for example, was almost unimaginable.

Instead of facilitating the reduction of social contact and halting the further spread of the coronavirus, the management of the crowds at the airports produced a perfect breeding ground for the spread of the virus.

My guess is that more draconian travel restrictions will be implemented soon, matching to some extent the measures taken across Europe.

This will in turn have a further dampening effect on economic activity in the U.S., putting more and more pressure on the Fed and the government to artificially support a rapidly weakening economy.

Where does this end up? It is too early to say, but a very safe bet is that we will have some months of sharply negative growth. Too many sectors of the economy are going to take a hit to expect anything else.

The Fed has already driven interest rates to zero. Will that help? Unlikely. In fact, as I mentioned at the beginning of this update, the markets are voting with a resounding NO.

The businesses that are most affected by the current economic situation will still suffer. Quantitative easing is hardly a cure-all. In fact, it has been one of the reasons that we have such a mess in our markets today. 

The markets have become addicted to the easy money, so more of the same will have little or no impact. We will need real economic demand, not an easier monetary policy.

It won’t help support tourism, for example, or the other sectors getting smashed right now. The government will need to spend at least 5% of GDP, or roughly $1 trillion, to offset the weakness I see coming.

Is it surprising that the Fed and the government take emergency steps to try to stabilize economic growth? Not at all. This is essentially what they have been doing for a long time, so it is completely consistent with their playbook.

Next, I would anticipate the government implementing some massive public-works and infrastructure programs over the coming months. That would be very helpful, and almost certainly quite necessary.

But there’s a problem with this kind of intervention from the government…

What Happens When You Eliminate the Business Cycle

The Fed’s foolish attempt to eliminate business cycles is a significant contributing factor to the volatility we are currently experiencing. 

Quantitative easing is nothing more than printing lots and lots of money to support a weak economy and give the appearance of growth and prosperity. In fact, it is a devaluation of the currency’s true buying power.

That in turn artificially drives up the prices of other assets, such as stocks, real estate and gold – but it does not create true wealth. That only comes with non-inflationary growth of goods and services and associated increases in economic output.

Inflation is the government’s way to keep people thinking they are doing better.

To that point: We have seen some traditional safe-haven assets getting destroyed during this time of risk aversion. That has certainly compounded the problems of many investors.

Gold is a great example. As the stock market got violently slammed, people were forced to come up with cash to support their losing positions. Gold became a short-term source of liquidity as people sold their gold holdings in somewhat dramatic fashion. It was one of the few holdings of many people that was not dramatically under water, so people sold it.

The move may have seemed perverse, particularly to people who bought gold as a safe-haven asset, but in times of crisis, all assets tend to become highly correlated, at least short term.

We saw a similar thing happen with long yen exposures and long Bitcoin exposures recently.

The dollar had its strongest one-day rally against the yen since November 2016 as people were forced to sell huge amounts of yen to generate liquidity. Many speculators had made some nice profits recently as the dollar dropped sharply from 112 to 101.30, but they have been forced to book whatever profits they had in this position. Again, this was due to massive losses elsewhere in their portfolios.

Is the yen’s sell-off complete? If it is not complete, it is probably at least close to an attractive level for Japanese investors to start buying yen against a basket of currencies. The major supplies of yen have largely been taken off the table for now.

For example, the yen had been a popular funding currency for “carry” plays. People were selling yen and buying higher-yielding currencies to earn the interest rate difference between the liability currency (yen) and the funding currency (for example, the U.S. dollar).

Carry plays are very unpopular in times of great uncertainty and volatility, however, so that supply of yen will be largely gone for quite some time. Plus, the yield advantage of currencies such as the U.S. dollar, Canadian dollar, and Australian dollar versus the yen is nearly gone.

In addition, at the end of the Japanese fiscal year , there is usually heavy demand for yen as Japanese corporations need to bring home a portion of their overseas holdings for balance sheet window dressing. I don’t expect that pressure to be different this year.

Just as the safe-haven assets of yen and gold got aggressively sold, Bitcoin also got hammered. It was driven by a similar theme – people had big losses and they needed to produce liquidity quickly. Selling Bitcoin became one of the sources of that liquidity.

Heavy Price Deflation Ahead

Overall, there is a chance that this scenario turns into something truly ugly, with sustained price deflation across many parts of the economy. We will certainly have price deflation in many sectors, at least on a temporary basis.

Why does that matter over the long term?

Price deflation is the most debilitating economic development in a society that is debt-laden – like the U.S. today. Prices of assets come down… and the debt becomes progressively bigger and bigger.

The balance sheet of oil company Chesapeake Energy is a classic example. It’s carrying almost $10 billion worth of debt… versus a market cap of only about $600 million. Talk about leverage! When the company had a market cap of $10 billion, that debt level didn’t appear so terrifying.

Although this is an extreme example for illustrative purposes, the massive debt loads of China would seem more and more frightening if we were to sink into flat or negative growth cycles for a while. The government’s resources are already being strained, and it can artificially support only so many failing companies.

The U.S. has gigantic levels of debt as well, but it has the advantage of being the world’s true hegemon, and the U.S. dollar is the world’s reserve currency. This creates a tremendous amount of leverage and power in financing its debt.

The U.S. has been able to impose its will on its trading partners to trade major commodities in dollars. This has created a constant demand for the dollar that offsets, to a large extent, the massive trade deficit that the U.S. runs.

For example, if a German company wants to buy oil, then it needs to hold dollars. This creates a constant demand for dollar assets.

In short, the dollar’s status as the true global reserve currency is far more important than most people realize. China does not hold this advantage. 

What to Do Now

In terms of how to position ourselves going forward, I strongly recommend that people continue with a defensive attitude regarding stocks. There could be a lot more downside to come. Likewise, we could see some panic selling in other asset classes.

The best thing right now is to be liquid and patient, ready to pounce on special opportunities when they present themselves.

For sure, there will be some exceptional opportunities, but it is too early to commit ourselves to just one industry. These opportunities could come in diverse sectors such as commercial real estate, hospitality, travel and leisure, and others.

As for the forex markets, the volatility in the currencies is extreme, so we are a bit cautious.

I still like the yen as a safe-haven asset. I likewise still want to sell the Australian dollar, the New Zealand dollar, and the Canadian dollar as liability currencies.

Why? The Bank of Canada, the Reserve Bank of Australia, and the Reserve Bank of New Zealand have all taken aggressive steps recently, slashing interest rates. These currencies are all weak, and they will get weaker.

Finding an ideal entry for a trade, however, is tricky. Therefore, we are being extra careful with our trade alerts. We always prioritize the preservation of capital over generating profits, and we will continue with this premise.

At the same time, volatility in the markets is fantastic for traders. We expect many excellent opportunities to present themselves over the coming days and weeks as prices get driven to extreme levels and mispricings appear. So stay tuned.


Announcing Rhovit and ChainX Listing Event - The Bitcoin News

https://thebitcoinnews.com/announcing-rhovit-and-chainx-listing-event/

Announcing Rhovit and ChainX Listing Event - The Bitcoin News

https://thebitcoinnews.com/announcing-rhovit-and-chainx-listing-event/

Before we all lose our sh*t, remember...

Bitcoin has built an entire ecosystem and industry around itself, from mining operations, to 1000's of companies offering different services. No-one's saying there aren't tough times ahead with this black swan event that is the coronavirus, but if Bitcoin shakes this all off (which I strongly believe it will), it would have arguably been battle-tested like it never has before.

There will be lots of wealthy individuals that are taking their cash out of stocks and bonds, those same individuals will be well aware that when this recession really does gain even more steam - leaving it in a bank may well be more riskier than leaving it in crypto. We only need to look back to 2013 when Cyprus decided to give all depositors a haircut to know what can happen.

With all that said, there will be some hodlers that simply need cash in these uncertain times - so don't go too hard on people that need to sell, just to support their families and loved ones.

We as a community need to come together and remember how far we've come, and how far we still have to go.