Does ETH use < 1% of bitcoin's energy per transaction?
If it doesn't, then its potentially bearish IMO.
Maybe with the innovation in ETH it can be bullish longer term, but I've no idea other than the buzz words thrown around here and there
Does ETH use < 1% of bitcoin's energy per transaction?
If it doesn't, then its potentially bearish IMO.
Maybe with the innovation in ETH it can be bullish longer term, but I've no idea other than the buzz words thrown around here and there
Yeah I view this as still bullish for ETH. I'm glad I switched to 80% ETH a little while ago... phew! This is the sort of tweet that makes wide adoption of BTC by company treasuries a far more remote possibility.
Does ETH use < 1% of bitcoin's energy per transaction?
If it doesn't, then its potentially bearish IMO.
Maybe with the innovation in ETH it can be bullish longer term, but I've no idea other than the buzz words thrown around here and there
Yeah I view this as still bullish for ETH. I'm glad I switched to 80% ETH a little while ago... phew! This is the sort of tweet that makes wide adoption of BTC by company treasuries a far more remote possibility.
If Tesla acquired Nano before this tweet, Elon will have again cemented his reputation as the greatest crowdfunder in history.
We are living in Elon's world. https://finance.yahoo.com/quote/NANO-US ... c=fin-srch (instant +25% minutes after the tweet)
Does ETH use < 1% of bitcoin's energy per transaction?
If it doesn't, then its potentially bearish IMO.
Maybe with the innovation in ETH it can be bullish longer term, but I've no idea other than the buzz words thrown around here and there
Yeah I view this as still bullish for ETH. I'm glad I switched to 80% ETH a little while ago... phew! This is the sort of tweet that makes wide adoption of BTC by company treasuries a far more remote possibility.
If Tesla acquired Nano before this tweet, Elon will have again cemented his reputation as the greatest crowdfunder in history.
We are living in Elon's world. https://finance.yahoo.com/quote/NANO-US ... c=fin-srch (instant +25% minutes after the tweet)
Does ETH use < 1% of bitcoin's energy per transaction?
If it doesn't, then its potentially bearish IMO.
Maybe with the innovation in ETH it can be bullish longer term, but I've no idea other than the buzz words thrown around here and there
Yeah I view this as still bullish for ETH. I'm glad I switched to 80% ETH a little while ago... phew! This is the sort of tweet that makes wide adoption of BTC by company treasuries a far more remote possibility.
If Tesla acquired Nano before this tweet, Elon will have again cemented his reputation as the greatest crowdfunder in history.
We are living in Elon's world. https://finance.yahoo.com/quote/NANO-US ... c=fin-srch (instant +25% minutes after the tweet)
Did he say something about Nano?
No--I assume Nano's price movement is because it is one of the greener cryptos currently. I remain bullish on ETH though because it will move to PoS, and no plans to sell my BTC anyway. I don't have much of it and I think it'll stick around even without adoption by ESG companies.
That's gotta be the most expensive tweet ever, right? If you look at market cap lost over the span of two hours which tracks back to one tweet, those are big numbers. Surely that will raise some eyebrows.
watchnerd wrote: ↑Wed May 12, 2021 8:10 pm
Why is my AAVE a safe haven during all this drama?
It's still up by 11%.
And my CRV is up 7%, too.
AAVE got a boost from that tweet about the banks before the Elon tweet, it was up 30%+ I think. It's down significantly from the time of the Elon tweet until now, but it's still up if you compare to 24 hours ago.
Three big tweets today in crypto land: (1) Aave founder tweet about institutional interest, (2) Vitalik crushing dog meme coins, and (3) Elon tweet about BTC... phew! Looks like the May 12, 2021 crypto bear market is almost over though.
Months after Tesla embraced Bitcoin, CEO Elon Musk said on Wednesday the auto maker would no longer accept the cryptocurrency for car purchases due to its environmental impact.
For those that don't like Vitalek donating Shiba to charity, I'm curious. What would you rather he do?
He can't stop from getting the Shiba coins. His ETH wallet address is public, so anyone can transfer any ETH based coin to him. If he holds all his Shiba coin, the Shiba coin creators win from the publicity and the fact that the "market cap" isn't affected by his unused meme coins. They get publicity every time someone posts his wallet screenshot on how rich he is. If he sells all his Shiba coin, it tanks to zero and all the people that bought in to the pump and dump coin get completely dumped on.
Really, he was in a no win scenario from what I can tell. I think donating a portion of it all to charity is about as good as he could do. Anything else either screws over a bunch of little guys who bought the pump of a meme coin, or it provides legitimacy to a worthless meme coin.
Months after Tesla embraced Bitcoin, CEO Elon Musk said on Wednesday the auto maker would no longer accept the cryptocurrency for car purchases due to its environmental impact.
Mr. Musk's (should we start calling him Mr. Flip-Flop?) rationale for this decision is ridiculous: "rapidly increasing use of fossil fuels for Bitcoin mining and transactions". Seriously? Firstly, one of the most significant current trends in PoW crypto mining is using green energy sources (especially, hydro power). Secondly, the use of fossil fuels for Bitcoin mining at the time of making a decision to buy $1.5B worth of BTC and promoting it was enormous, anyway. What was he thinking then?
Gadget wrote: ↑Wed May 12, 2021 8:28 pm
For those that don't like Vitalek donating Shiba to charity, I'm curious. What would you rather he do?
He can't stop from getting the Shiba coins. His ETH wallet address is public, so anyone can transfer any ETH based coin to him. If he holds all his Shiba coin, the Shiba coin creators win from the publicity and the fact that the "market cap" isn't affected by his unused meme coins. They get publicity every time someone posts his wallet screenshot on how rich he is. If he sells all his Shiba coin, it tanks to zero and all the people that bought in to the pump and dump coin get completely dumped on.
Really, he was in a no win scenario from what I can tell. I think donating a portion of it all to charity is about as good as he could do. Anything else either screws over a bunch of little guys who bought the pump of a meme coin, or it provides legitimacy to a worthless meme coin.
When this charity gets their hands on it, are they going to HODL?
If they do, they should be summarily roasted.
If they sell, how is that different than Vitalek selling?
Does ETH use < 1% of bitcoin's energy per transaction?
If it doesn't, then its potentially bearish IMO.
Maybe with the innovation in ETH it can be bullish longer term, but I've no idea other than the buzz words thrown around here and there
Ethereum is moving away from Proof of Work (mining). This has been a long (multi-year) process, and should be completed end of this year. I view this as very, very bullish for ETH, and would not be surprised to see ETH's market cap surpass Bitcoin's by year end.
Last edited by Prahasaurus on Wed May 12, 2021 11:11 pm, edited 1 time in total.
Gadget wrote: ↑Wed May 12, 2021 8:28 pm
For those that don't like Vitalek donating Shiba to charity, I'm curious. What would you rather he do?
He can't stop from getting the Shiba coins. His ETH wallet address is public, so anyone can transfer any ETH based coin to him. If he holds all his Shiba coin, the Shiba coin creators win from the publicity and the fact that the "market cap" isn't affected by his unused meme coins. They get publicity every time someone posts his wallet screenshot on how rich he is. If he sells all his Shiba coin, it tanks to zero and all the people that bought in to the pump and dump coin get completely dumped on.
Really, he was in a no win scenario from what I can tell. I think donating a portion of it all to charity is about as good as he could do. Anything else either screws over a bunch of little guys who bought the pump of a meme coin, or it provides legitimacy to a worthless meme coin.
When this charity gets their hands on it, are they going to HODL?
If they do, they should be summarily roasted.
If they sell, how is that different than Vitalek selling?
The charity has said they will "sell slowly over time". As of right now, they have not sold any $SHIB. They still hold 50,693,797,849,889.8 $SHIB
cogito wrote: ↑Wed May 12, 2021 11:20 pm
Honest question. Can Vitaliks write off the SHIB coins he gave away at a multi billion dollar valuation? If so it an unbelievably genius move.
But the gift he got would also count as income.
Global stocks, IG/HY bonds, gold & digital assets at market weights 75% / 19% / 6% || LMP: TIPS ladder
cogito wrote: ↑Wed May 12, 2021 11:20 pm
Honest question. Can Vitaliks write off the SHIB coins he gave away at a multi billion dollar valuation? If so it an unbelievably genius move.
But the gift he got would also count as income.
At the time he received it, that gift would be very small I would imagine. You could argue it would be almost zero.
cogito wrote: ↑Wed May 12, 2021 11:20 pm
Honest question. Can Vitaliks write off the SHIB coins he gave away at a multi billion dollar valuation? If so it an unbelievably genius move.
But the gift he got would also count as income.
At the time he received it, that gift would be very small I would imagine. You could argue it would be almost zero.
Then he had a billion in capital gains.
Global stocks, IG/HY bonds, gold & digital assets at market weights 75% / 19% / 6% || LMP: TIPS ladder
cogito wrote: ↑Wed May 12, 2021 11:20 pm
Honest question. Can Vitaliks write off the SHIB coins he gave away at a multi billion dollar valuation? If so it an unbelievably genius move.
But the gift he got would also count as income.
At the time he received it, that gift would be very small I would imagine. You could argue it would be almost zero.
Then he had a billion in capital gains.
Yes that would be correct in my estimation...
Edit to add: Actually apparently not. If you donate stock to a charity, you do not owe capital gains on it, I presume it would be the same here but not 100% sure.
cogito wrote: ↑Wed May 12, 2021 11:20 pm
Honest question. Can Vitaliks write off the SHIB coins he gave away at a multi billion dollar valuation? If so it an unbelievably genius move.
But the gift he got would also count as income.
At the time he received it, that gift would be very small I would imagine. You could argue it would be almost zero.
Then he had a billion in capital gains.
I don’t think so. My analogy was a little off. It’s more like he’s donated shares of appreciated stock. Anyway, we’re beginning to move off-topic.
cogito wrote: ↑Wed May 12, 2021 11:20 pm
Honest question. Can Vitaliks write off the SHIB coins he gave away at a multi billion dollar valuation? If so it an unbelievably genius move.
But the gift he got would also count as income.
At the time he received it, that gift would be very small I would imagine. You could argue it would be almost zero.
Then he had a billion in capital gains.
Yes that would be correct in my estimation...
Edit to add: Actually apparently not. If you donate stock to a charity, you do not owe capital gains on it, I presume it would be the same here but not 100% sure.
decapod10 wrote: ↑Wed May 12, 2021 11:01 pm
The charity has said they will "sell slowly over time". As of right now, they have not sold any $SHIB. They still hold 50,693,797,849,889.8 $SHIB
Um. I thought he made the donation to help with a great emergency.
When the world is this confusing....
cogito wrote: ↑Wed May 12, 2021 11:20 pm
Honest question. Can Vitaliks write off the SHIB coins he gave away at a multi billion dollar valuation? If so it an unbelievably genius move.
But the gift he got would also count as income.
Could be a form of insider giving. It typically benefits if you think there will be a large down move in a security (you can give to charity, itemize the gift to secure the benefit; instead of selling on any insider knowledge which raises SEC flags; so not only do you avoid the SEC, you avoid the drop and still get a benefit by securing the tax benefits at a pre drop price).
But if he held the security after the gift, he would still have to pay taxes on the gift from another source. This way he can just write it off by passing on the gift.
JBTX wrote: ↑Sun May 16, 2021 2:49 pm
My $1000 investment between Bitcoin and Etherium a few weeks ago is now less than $1000.
Elon giveth, Elon taketh away, lol. At least if ETH continues to crash it will provide a nice TLH opportunity.
I thought I bought the dip yesterday
I thought I bought the dip last week but it keeps on dipping!!
If I was a serious investor I'd probably buy more. But I'm not so I likely won't.
I'm still planning on buying more ETH over time but the total meltdown is pretty funny to watch on Twitter. This is a pretty good argument for keeping the stock markets closed on weekends...
Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness; Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery.