BITCOIN

Weather Man

Persistance Is A Bitch
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Kazakhstan sets national limit for energy cryptocurrency mining can use

  • Kazakhstan's Ministry of Energy, seeking to avoid power outages, tells the country's electric grid operator to limit digital mining operations to 1 MW capacity for a period of two years.
  • "At the same time, the total power for electrical installations of consumers engaged in digital mining activities should not exceed 100 (one hundred) megawatts in the Republic of Kazakhstan," the ministry said in a document posted on its website.
  • The country now stands as the second-biggest producer of bitcoin (BTC-USD) accounting for ~18% of the global hash rate, only trailing the U.S., according to Cambridge Centre for Alternative Finance, after China cracked down on crypto mining earlier this year.
  • Earlier this month, BIT Mining (BTCM -3.5%) reported boosting its investment in its Ohio crypto mining center and said it would limit power capacity at its Kazakhstan crypto mining data center to 40MW, still far above the ministry's new limit.
  • In June, bitcoin-mining machine producer Canaan (CAN -4.4%) also started mining bitcoin (BTC-USD) by using its Avalon Miner units in Kazakhstan.
  • Bitcoin recently traded at $61.8K, easing off its all-time high of $67.7K reached on Wednesday.
  • Previously (Oct. 13), U.S. becomes world's largest bitcoin miner thanks to China clampdown
 

Weather Man

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ProShares Bitcoin Strategy ETF may be in jeopardy of exceeding futures-contracts limit



  • Red-hot ProShares Bitcoin Strategy ETF (NYSEARCA:BITO) is garnering too much interest too quickly, as the ETF is reportedly on track to exceed the amount of futures contracts allowable to have by the Chicago Mercantile Exchange.
  • Bloomberg reported that after just two days of trading, BITO already owned about 1,900 contracts -- just under the 2,000 contracts that the CME says a single entity can hold. BITO also has accumulated 1,400 November contracts totaling 3,400 contracts.
  • At the rate of increase BITO is witnessing, it already has some $1.1B in assets under management and is approaching the 5,000 maximum total contracts that the CME allows.
  • According to the exchange's rules, spot-position limits "are set at 2,000 contracts. A position accountability level of 5,000 contracts will [also] be applied to positions in single months outside the spot month and in all months combined."
  • Bloomberg noted that one solution for ProShares is to have its holdings drag out to longer contract dates. However, the issue then is that the futures contracts could start to disjoint themselves from the actual price and performance of Bitcoin (BTC-USD).
  • Nate Geraci, President of the ETF Store, told the news agency that "the end result is the ETF will start taking on potentially significant tracking error versus the spot price of Bitcoin."
  • Another solution could actually come from competitor Bitcoin-futures ETFs. As more and more such funds hit the market, BITO's competitors could soak up the heavy demand.
  • The Valkyrie Bitcoin Strategy ETF (NASDAQ:BTF) is set to come to market on Friday.
  • Similarly, the rival VanEck Bitcoin Strategy ETF (BATS:XBTF) appears likely to start trading on Monday.
 

mysticsvt

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Crypto bingo for millennials and gen X, literally.
Not at all, just for anyone who likes money. ;) My 6k turned into 13+ over night and my 8K is now $12,306 in the last few weeks. All time highs mean...anyone who invested made money. That 100.00 I offered you...would have been more....FACTS.
 

98 svt

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Yep. Been in and out of it.

Up nearly 100% since I started playing it two weeks ago.

I just go in and out of shib and dodge.

Seems they are inverse of BTC lately


Sent from my iPhone using the svtperformance.com mobile app

I dumped all but $10 worth of DOGE, just to keep an eye on it. But with SHIB I bought in a month ago and shit, I hope it just keeps going. I don't see it listed on RH yet either.
 

Weather Man

Persistance Is A Bitch
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Not at all, just for anyone who likes money. ;) My 6k turned into 13+ over night and my 8K is now $12,306 in the last few weeks. All time highs mean...anyone who invested made money. That 100.00 I offered you...would have been more....FACTS.

There are TRILLIONS of shares, it is for people who enjoy the speculation thrill, nothing wrong with that. But don't pretend it is anything other than that.
 

Weather Man

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Shiba Inu dips from all-time high after Elon Musk reveals he has none



  • The 13th largest cryptocurrency by market cap, Shiba Inu (SHIB-USD), falls from its record high following Elon Musk's tweet reply on how much of the crypto he's holding, saying he has none.
  • As a result, Shiba Inu (SHIB-USD) slid from its all-time high of $0.000044 to as low as $0.000035 on Sunday. Its market cap is down by about $2B from its peak of $17.4B, according to data from CoinMarketCap.
  • On the same day, Musk confirms his crypto buys in bitcoin (BTC-USD), ethereum (ETH-USD) and dogecoin (DOGE-USD), but "don't bet the farm on crypto," he tweets. "True value is building products & providing services to your fellow human beings, not money in any form."
  • Recall earlier this month that Shiba Inu (SHIB-USD) climbed 15% after Elon Musk tweeted on what appears to be a rabbit holding a rocket-ship emoji.
  • Dogecoin (DOGE-USD), an alt coin with a similar meme-like presence as Shiba Inu (SHIB-USD), also peaked at just over $0.28 on Sunday evening before retracing to $0.264 on Monday morning.
  • Unlike Shiba Inu (SHIB-USD), Dogecoin (DOGE-USD) is still off by 62.3% from its all time high of $0.69 in May.
  • In addition, Floki Inu, another meme token that was brought upon by Shiba Inu (SHIB-USD) fans, saw a brief rally to $0.000070, but quickly pulled back to as low as $0.000057 during Sunday afternoon.
  • Previously, (Oct. 7) Shiba Inu coin market cap soars over $13B just days after Elon Musk tweet.
 

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