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BitCoin falling like a Dotcom


joeken24

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41 minutes ago, PartyPosse said:

Banks are starting to finally realize physical currency is a thing of the past. I don't remember the last time I carried cash.


I don’t think physical cash is the issue. The issue is where customers keep their ‘cash’ assets. Banks don’t hold much physical cash.

 

The issue for retail banks is that their role as intermediaries is under massive threat. Visa is already much more central to my financial life than my bank. And I use other services for transferring funds. If I could have digital currency outside of a bank and the ability to pay bills that won’t take Visa (or charge excessive fees) I might not even need a bank account today.

 

 

Edited by Corcaigh
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China Crypto Clampdown Sends Bitcoin Closer to Key $30,000 Level

 

China’s intensifying cryptocurrency crackdown has left Bitcoin flirting with $30,000, a price level seen as key to the short-term outlook for the largest virtual currency.

 

Bitcoin fell as much as 4.3% Tuesday to $31,171, and for some a breach of $30,000 would hurt sentiment and raise the risk of a steeper selloff. It was trading at $31,500 as of 10:42 a.m. in London.

 

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“We’re most likely going to continue to trade within the $30,000 to $40,000 range and, hopefully, $30,000 will hold as the low of the year,” said Antoni Trenchev, co-founder of crypto lender Nexo in London. “If not, we should revisit $25,000 and even $20,000 before the next leg up.”

 

China’s latest broadside came Monday, when the nation’s central bank said it had summoned officials from the biggest lenders as well as AliPay to reiterate a ban on cryptocurrency services. Concerns about the environmental impact of the energy-hungry computers that underpin Bitcoin also continue to swirl. Chinese officials are already trying to root out crypto mining operations.

 

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Police Bust Illegal Cryptomining Ring Enslaving Thousands Of PS4 Consoles And GPUs

 

It appears that illegal electricity theft and cryptocurrency mining go hand in hand, as the Ukrainian Security Service (SBU) reported that it has shut down a massive crypto-farm stealing electricity. Comprised of thousands of consoles and hundreds of graphics cards, the farm was seized from an old warehouse professionally rigged for the illicit activities.

 

In the city of Vinnytsia, a group of crypto miners has been accused of “theft of water, electricity or thermal energy through its unauthorized use,” by the SBU. According to the report, “electricity meters that did not show a real energy consumption” were used to steal upwards of $259,000 in electricity monthly for the crypto farm. After these proceedings were initiated, the security service was then able to seize some interesting hardware.

 

factory-police-bust-illegal-crypto-minin

 

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Viral video shows Malaysian police destroying 1,069 bitcoin mining rigs with a steamroller

 

Call it a crypto crackdown — literally.

 

Malaysian authorities seized 1,069 bitcoin mining rigs, laid them out in a parking lot at police headquarters, and used a steamroller to crush them, as part of a joint operation between law enforcement in the city of Miri and electric utility Sarawak Energy.

 

Assistant Commissioner of Police Hakemal Hawari told CNBC the crackdown came after miners allegedly stole $2 million worth of electricity siphoned from Sarawak Energy power lines. 

 

A video of the event posted last week by local Sarawak news outlet Dayak Daily has since gone viral on social media.  

 

 

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1 hour ago, Hersh said:

Virtual strippers earning crypto? Someone needs to explain this. 

Crypto Brahs probably are even more easily parted from their money if strippers are involved.

 

 

Edited by Corcaigh
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15 hours ago, Springfield said:


I bought a little bit just to have some. It’s up 60% today.

 

Yessirrrr

 

12 hours ago, AlvinWaltonIsMyBoy said:

Tell me you’re a millionaire from Shiba Coin and make me believe it. I want to believe. 😆

 

LMAO man, I wish.  The wife picked up 700,000,000 shares a few weeks ago.  Holding for now.  #shibarmy #tothemoon

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