Deleting bc goofy already covered it.
Interesting article describing why bitcoin mining might lead to another Texas power grid shutdown.
āBloomberg reports that the new power demands for crypto mining in Texas could reach around 5,000 megawatts over the next two yearsāaround twice the yearly electricity demand for all of Austin in 2020. That means that creaky old grid could become the home for 20% of the worldās bitcoin network by the end of next year, up from between 8 to 10 percent now.ā
That seemsā¦ not good
My initial thought is that it would be good, because all they would need to do to free up the electricity used for mining is raise the price enough to make it unprofitable when demand spikes.
More crypto-rich poker players here would be cool too.
If bitcoin mining continues to draw crazy power and that demand is a problem (it isnāt met by green or cheap electricity, and hopefully both) ā¦ btc mining right now seems like the definition of a flexible load, meaning it could participate in utility demand response programs and earn revenues there. Iāve seen papers discussing btc miners as an energy resource on grids ā¦
eventually, maybe, potentially ā¦ it becomes less flexible because btc prices incorporate utility dr programs ā¦ and then youāve created a new kind of energy services market?
Alright Goofy, my wife is ready to gamble our moneyā¦ I mean, invest wisely, and become a UP zillionaire. Where do I start?
About a year ago
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I didnt say when. Who are you, Matt Amodio?
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the problem is you canāt really half-ass it. iāve tried and failed and even though iām objectively stupid, i think itās hard for anyone. those guys are like all in on that crap and also willing to lose on a lot of dumb projects to hit the bigger ones.
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Following closely because I woke up today and decided I also want to be a UP zillionaire.
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if the top UPāers there want to start a nft ponzi fund of sorts iād be happy to transfer the remaining of my net worth and let them cut whatever profit % they want.
problem is that they are all doing coke on beetlejuice yacht and they donāt need us
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I mean, people went nuts when loot box mechanics got popular. Multiple countries passed laws banning such
So I saw that this hits Beta in 4 days. Any info about it from the zillionaire club?
I havenāt paid attention to NFTs because my impression was itās stupid sports cards. Dumb games and degenerate gambling is much more enticing.
thats an impressive amount of not paying attention.
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Looks like its gone from .04 to .32 since early September
This is literally me quoting you from our chat while adding that iām stupid, which i assume is the the āveryā in very good.
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I get that. Im ready to put considerable time into it.
I obviously have MUCH to learn, but I tend to be a fast learner. This may be a fad, it may be the wave of the future, but its hot now and that matters.
Ill reach out to Josh, thabks.
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Venture capitalists throw money at everything, knowing most of the projects will fail. You only need a couple big wins to make it all worthwhile. Trying to find the one coin or NFT thatās going to make you 10,000X is probably not going to work out for most people.
Also, the crypto world is absolutely enormous. There are many other potentially lucrative parts of it beside the current (past?) NFT craze. There are lots of steaking opportunities where you can get double (or even triple) digit APY returns for locking up your holdings in fairly respectable alt coins, in addition to whatever happens to their underlying value. If youāre brave you can try liquidity pools which can offset very high risk with very high returns. You can also hedge those risks in the options markets.
The place to start is diving in with a modest deposit and go exploring. CoinMarketCap.com is an excellent resource.
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See you got it, now open up your brain hole Richie Rich