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tech / sci.electronics.design / Re: OT crypto crash

SubjectAuthor
* OT crypto crashjlarkin
+* Re: OT crypto crashMartin Brown
|`* Re: OT crypto crashJohn Walliker
| +- Re: OT crypto crashDecadentLinuxUserNumeroUno
| +* Re: OT crypto crashamdx
| |`* Re: OT crypto crashMartin Brown
| | `- Re: OT crypto crashEd Lee
| +* Re: OT crypto crashamdx
| |+* Re: OT crypto crashJohn Larkin
| ||`* Re: OT crypto crashamdx
| || +* Re: OT crypto crashEd Lee
| || |+* Re: OT crypto crashjlarkin
| || ||`* Re: OT crypto crashJeroen Belleman
| || || +- Re: OT crypto crashEd Lee
| || || +* Re: OT crypto crashMike Monett
| || || |+- Re: OT crypto crashLasse Langwadt Christensen
| || || |`* Re: OT crypto crashrbowman
| || || | `* Re: OT crypto crashLasse Langwadt Christensen
| || || |  `- Re: OT crypto crashrbowman
| || || `- Re: OT crypto crashjlarkin
| || |`* Re: OT crypto crashamdx
| || | `- Re: OT crypto crashEd Lee
| || `- Re: OT crypto crashjlarkin
| |`* Re: OT crypto crashEd Lee
| | `- Re: OT crypto crashamdx
| `- Re: OT crypto crashamdx
+- Re: OT crypto crashbitrex
+- Re: OT crypto crashbitrex
+- Re: OT crypto crashJohn Doe
`* Re: OT crypto crashjlarkin
 `* Re: OT crypto crashEd Lee
  `- Re: OT crypto crashDecadentLinuxUserNumeroUno

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OT crypto crash

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From: jlar...@highlandsniptechnology.com
Newsgroups: sci.electronics.design
Subject: OT crypto crash
Date: Thu, 12 May 2022 07:11:11 -0700
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 by: jlar...@highlandsniptechnology.com - Thu, 12 May 2022 14:11 UTC

https://uk.finance.yahoo.com/news/crypto-billionaires-vast-wealth-destroyed-183042529.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZHJ1ZGdlcmVwb3J0LmNvbS8&guce_referrer_sig=AQAAAMuSbpwV3EWdsJcEKThcK3HHpJ5Pq39wBQ_rNoHc1I4yRRaGtJhiNuyyY0NUuRkph7xt6vqxjfLLlSPpD7Cb4kSId9jQbAZ0T89wUav5Mxvk5KokPYxy9Ge-Vk27rnicZrxQ2oVkqEv_-NgT35G5pYWcjJ_qV5Tp83bpkNHzL4Xs

not to mention all sorts of tech stocks that have lost 95% of their
IPO price.

Dot-bomb and tulip bulbs again... emotional trading in things with no
underlying value. At least it didn't take terajoules to grow tulips.

It's hard to feel sorry for some guy who is down to his last two
billion dollars, but lots of ordinarily greedy people could be in big
trouble with their wives too.

--

Anybody can count to one.

- Robert Widlar

Re: OT crypto crash

<t5jbnc$snb$1@gioia.aioe.org>

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From: '''newsp...@nonad.co.uk (Martin Brown)
Newsgroups: sci.electronics.design
Subject: Re: OT crypto crash
Date: Thu, 12 May 2022 17:13:30 +0100
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 by: Martin Brown - Thu, 12 May 2022 16:13 UTC

On 12/05/2022 15:11, jlarkin@highlandsniptechnology.com wrote:
>
> https://uk.finance.yahoo.com/news/crypto-billionaires-vast-wealth-destroyed-183042529.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZHJ1ZGdlcmVwb3J0LmNvbS8&guce_referrer_sig=AQAAAMuSbpwV3EWdsJcEKThcK3HHpJ5Pq39wBQ_rNoHc1I4yRRaGtJhiNuyyY0NUuRkph7xt6vqxjfLLlSPpD7Cb4kSId9jQbAZ0T89wUav5Mxvk5KokPYxy9Ge-Vk27rnicZrxQ2oVkqEv_-NgT35G5pYWcjJ_qV5Tp83bpkNHzL4Xs
>
> not to mention all sorts of tech stocks that have lost 95% of their
> IPO price.

There are always a few unicorns that quickly become dodos.

The VC's I know reckon only 1 in 10 will ever pay back but when they get
a good one it pays back so many times over that the risk is worth it.
They prefer crash and burn cutting edge enterprises to ones that linger
on never quite making it fly or going bust. Absorbs too much management
time. (they pull the plug in such cases precipitating the latter)

> Dot-bomb and tulip bulbs again... emotional trading in things with no
> underlying value. At least it didn't take terajoules to grow tulips.

And in extremis you can just about eat tulip bulbs.

Tulip mania one grower/merchant/speculator inadvertantly did after a
visitor mistook the precious bulb for an onion (or so the story goes)...

https://www.bbc.co.uk/news/business-51311368

I can't think of anything much that you can do with crypto currencies in
the real world apart from accidentally lose them:

https://www.theguardian.com/uk-news/2021/jan/14/man-newport-council-50m-helps-find-bitcoins-landfill-james-howells

I'm fairly convinced that crypto currencies will eventually fall out of
fashion when people wise up to just how much they contribute to global
warming. You would be hard pressed to invent something more wasteful of
energy for the value of the transactions processed.

> It's hard to feel sorry for some guy who is down to his last two
> billion dollars, but lots of ordinarily greedy people could be in big
> trouble with their wives too.

Fear of losing out is what drives these crazy speculative bubbles.

So long as there is a "greater fool" to sell turds wrapped in gold foil
to then buying them and reselling quickly at a profit is quite rational.
(if you have no ethics)

It all comes tumbling down when somebody innocently points out that the
emperor has no clothes. The goods then revert to their intrinsic value.

Pump and dump is the simplest of these dodgy investment schemes.

--
Regards,
Martin Brown

Re: OT crypto crash

<3bd70711-dd8f-40bd-b337-afea4526eab6n@googlegroups.com>

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Subject: Re: OT crypto crash
From: jrwalli...@gmail.com (John Walliker)
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 by: John Walliker - Thu, 12 May 2022 20:05 UTC

On Thursday, 12 May 2022 at 17:13:41 UTC+1, Martin Brown wrote:

> I'm fairly convinced that crypto currencies will eventually fall out of
> fashion when people wise up to just how much they contribute to global
> warming. You would be hard pressed to invent something more wasteful of
> energy for the value of the transactions processed.

+1

John

Re: OT crypto crash

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From: Decadent...@decadence.org
Newsgroups: sci.electronics.design
Subject: Re: OT crypto crash
Date: Thu, 12 May 2022 23:20:38 -0000 (UTC)
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 by: Decadent...@decadence.org - Thu, 12 May 2022 23:20 UTC

John Walliker <jrwalliker@gmail.com> wrote in
news:3bd70711-dd8f-40bd-b337-afea4526eab6n@googlegroups.com:

> On Thursday, 12 May 2022 at 17:13:41 UTC+1, Martin Brown wrote:
>
>> I'm fairly convinced that crypto currencies will eventually fall
>> out of fashion when people wise up to just how much they
>> contribute to global warming. You would be hard pressed to invent
>> something more wasteful of energy for the value of the
>> transactions processed.
>
> +1
>
> John
>

Let alone the FACT that they are NOT globally recognized currencies,
AND ALL the criminal enterprises and drug cartels use it.

Involving one's self in crypto currencies is actually a criminal
act when you get right down to it. Passing it off as harmless is far
from the truth.

That and tobacco are the biggest evils on the planet, besides
idiots like Trump and Putin.

Re: OT crypto crash

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 by: bitrex - Fri, 13 May 2022 03:47 UTC

On 5/12/2022 10:11 AM, jlarkin@highlandsniptechnology.com wrote:
>
> https://uk.finance.yahoo.com/news/crypto-billionaires-vast-wealth-destroyed-183042529.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZHJ1ZGdlcmVwb3J0LmNvbS8&guce_referrer_sig=AQAAAMuSbpwV3EWdsJcEKThcK3HHpJ5Pq39wBQ_rNoHc1I4yRRaGtJhiNuyyY0NUuRkph7xt6vqxjfLLlSPpD7Cb4kSId9jQbAZ0T89wUav5Mxvk5KokPYxy9Ge-Vk27rnicZrxQ2oVkqEv_-NgT35G5pYWcjJ_qV5Tp83bpkNHzL4Xs
>
> not to mention all sorts of tech stocks that have lost 95% of their
> IPO price.
>
> Dot-bomb and tulip bulbs again... emotional trading in things with no
> underlying value. At least it didn't take terajoules to grow tulips.
>
> It's hard to feel sorry for some guy who is down to his last two
> billion dollars, but lots of ordinarily greedy people could be in big
> trouble with their wives too.
>

My cryptocurrency investment did really badly this year, but given my
overall exposure I think my ladyfriend will be able to forgive my
trespasses:

<https://imgur.com/a/pe6wuy0>

Re: OT crypto crash

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 by: bitrex - Fri, 13 May 2022 04:00 UTC

On 5/12/2022 10:11 AM, jlarkin@highlandsniptechnology.com wrote:
>
> https://uk.finance.yahoo.com/news/crypto-billionaires-vast-wealth-destroyed-183042529.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZHJ1ZGdlcmVwb3J0LmNvbS8&guce_referrer_sig=AQAAAMuSbpwV3EWdsJcEKThcK3HHpJ5Pq39wBQ_rNoHc1I4yRRaGtJhiNuyyY0NUuRkph7xt6vqxjfLLlSPpD7Cb4kSId9jQbAZ0T89wUav5Mxvk5KokPYxy9Ge-Vk27rnicZrxQ2oVkqEv_-NgT35G5pYWcjJ_qV5Tp83bpkNHzL4Xs
>
> not to mention all sorts of tech stocks that have lost 95% of their
> IPO price.
>
> Dot-bomb and tulip bulbs again... emotional trading in things with no
> underlying value. At least it didn't take terajoules to grow tulips.
>
> It's hard to feel sorry for some guy who is down to his last two
> billion dollars, but lots of ordinarily greedy people could be in big
> trouble with their wives too.
>

At the beginning of the year I made a lil portfolio with $500 into
cryptocurrency, the Energy Select Sector Index fund, and emerging market
stocks in Brazil and Africa, because my magic 8 ball told me these
things naturally hedge each other.

It's down about 9% for the year so far so basically not that much worse
than high-yield bonds over the same time period /shrug

Re: OT crypto crash

<t5krbp$3oq$1@dont-email.me>

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 by: John Doe - Fri, 13 May 2022 05:46 UTC

jlarkin@highlandsniptechnology.com wrote:

> https://uk.finance.yahoo.com/news/crypto-billionaires-vast-wealth-destroyed-183042529.html?

Shortened the link.

> not to mention all sorts of tech stocks that have lost 95% of their IPO
> price.
>
> Dot-bomb and tulip bulbs again... emotional trading in things with no
> underlying value. At least it didn't take terajoules to grow tulips.

Difficult to believe anybody would waste so much energy. Who would come up
with such a wasteful scheme?

AND while wasting all that energy, they have driven up the cost of video
cards, sky high. I hope they all go broke. I'm ready to grab a really
great deal on a high-powered video card... :)

AND maybe that means less YouTube comment section spam.
Haven't seen bitcoin spammers in a while.

--

>
> It's hard to feel sorry for some guy who is down to his last two billion
> dollars, but lots of ordinarily greedy people could be in big trouble
> with their wives too.
>
>
>

Re: OT crypto crash

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 by: jlar...@highlandsniptechnology.com - Fri, 13 May 2022 14:27 UTC

On Thu, 12 May 2022 07:11:11 -0700, jlarkin@highlandsniptechnology.com
wrote:

>
>https://uk.finance.yahoo.com/news/crypto-billionaires-vast-wealth-destroyed-183042529.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZHJ1ZGdlcmVwb3J0LmNvbS8&guce_referrer_sig=AQAAAMuSbpwV3EWdsJcEKThcK3HHpJ5Pq39wBQ_rNoHc1I4yRRaGtJhiNuyyY0NUuRkph7xt6vqxjfLLlSPpD7Cb4kSId9jQbAZ0T89wUav5Mxvk5KokPYxy9Ge-Vk27rnicZrxQ2oVkqEv_-NgT35G5pYWcjJ_qV5Tp83bpkNHzL4Xs
>
>not to mention all sorts of tech stocks that have lost 95% of their
>IPO price.
>
>Dot-bomb and tulip bulbs again... emotional trading in things with no
>underlying value. At least it didn't take terajoules to grow tulips.
>
>It's hard to feel sorry for some guy who is down to his last two
>billion dollars, but lots of ordinarily greedy people could be in big
>trouble with their wives too.

https://www.infowars.com/posts/suicide-threats-spike-on-reddit-after-crypto-crash/

--

Anybody can count to one.

- Robert Widlar

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 by: Ed Lee - Fri, 13 May 2022 15:32 UTC

On Friday, May 13, 2022 at 7:27:28 AM UTC-7, jla...@highlandsniptechnology.com wrote:
> On Thu, 12 May 2022 07:11:11 -0700, jla...@highlandsniptechnology.com
> wrote:
> >
> >https://uk.finance.yahoo.com/news/crypto-billionaires-vast-wealth-destroyed-183042529.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZHJ1ZGdlcmVwb3J0LmNvbS8&guce_referrer_sig=AQAAAMuSbpwV3EWdsJcEKThcK3HHpJ5Pq39wBQ_rNoHc1I4yRRaGtJhiNuyyY0NUuRkph7xt6vqxjfLLlSPpD7Cb4kSId9jQbAZ0T89wUav5Mxvk5KokPYxy9Ge-Vk27rnicZrxQ2oVkqEv_-NgT35G5pYWcjJ_qV5Tp83bpkNHzL4Xs
> >
> >not to mention all sorts of tech stocks that have lost 95% of their
> >IPO price.
> >
> >Dot-bomb and tulip bulbs again... emotional trading in things with no
> >underlying value. At least it didn't take terajoules to grow tulips.
> >
> >It's hard to feel sorry for some guy who is down to his last two
> >billion dollars, but lots of ordinarily greedy people could be in big
> >trouble with their wives too.
> https://www.infowars.com/posts/suicide-threats-spike-on-reddit-after-crypto-crash/

They are inexpedient traders. Never have more than 10% unhedged positions in cryptos, stocks or casino bets. Although i broke my own rule in the energy sector, they were too cheap and in BK area. I am currently in around 30% energy but 15% hedge. Most of my hedged positions are way higher than expected target price. But that's OK, i just don't get the huge profits like other traders.

Re: OT crypto crash

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 by: amdx - Fri, 13 May 2022 16:32 UTC

On 5/12/2022 3:05 PM, John Walliker wrote:
> On Thursday, 12 May 2022 at 17:13:41 UTC+1, Martin Brown wrote:
>
>> I'm fairly convinced that crypto currencies will eventually fall out of
>> fashion when people wise up to just how much they contribute to global
>> warming. You would be hard pressed to invent something more wasteful of
>> energy for the value of the transactions processed.
> +1
>
> John
  If the value received is less than the cost of the energy used,
no one would be mining crypto. Global Warming is a different question.

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Newsgroups: sci.electronics.design
Subject: Re: OT crypto crash
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 by: Martin Brown - Fri, 13 May 2022 18:11 UTC

On 13/05/2022 17:32, amdx wrote:
> On 5/12/2022 3:05 PM, John Walliker wrote:
>> On Thursday, 12 May 2022 at 17:13:41 UTC+1, Martin Brown wrote:
>>
>>> I'm fairly convinced that crypto currencies will eventually fall out of
>>> fashion when people wise up to just how much they contribute to global
>>> warming. You would be hard pressed to invent something more wasteful of
>>> energy for the value of the transactions processed.
>> +1
>>
>> John
>   If the value received is less than the cost of the energy used,
> no one would be mining crypto. Global Warming is a different question.
>
That isn't true though. Several crypto mining operations now work by
stealing CPU off unsuspecting internet users or flat out stealing the
electricity from the mains. Much less illegal than a cannabis farm.

https://www.bbc.co.uk/news/uk-england-birmingham-57280115

Various botnets do it...

--
Regards,
Martin Brown

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From: edward.m...@gmail.com (Ed Lee)
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 by: Ed Lee - Fri, 13 May 2022 18:19 UTC

On Friday, May 13, 2022 at 11:12:04 AM UTC-7, Martin Brown wrote:
> On 13/05/2022 17:32, amdx wrote:
> > On 5/12/2022 3:05 PM, John Walliker wrote:
> >> On Thursday, 12 May 2022 at 17:13:41 UTC+1, Martin Brown wrote:
> >>
> >>> I'm fairly convinced that crypto currencies will eventually fall out of
> >>> fashion when people wise up to just how much they contribute to global
> >>> warming. You would be hard pressed to invent something more wasteful of
> >>> energy for the value of the transactions processed.
> >> +1
> >>
> >> John
> > If the value received is less than the cost of the energy used,
> > no one would be mining crypto. Global Warming is a different question.
> >
> That isn't true though. Several crypto mining operations now work by
> stealing CPU off unsuspecting internet users or flat out stealing the
> electricity from the mains. Much less illegal than a cannabis farm.

And in countries like Russia, Iran and N.Korea, they don't care about energy cost.

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 by: amdx - Fri, 13 May 2022 23:57 UTC

On 5/12/2022 3:05 PM, John Walliker wrote:
> On Thursday, 12 May 2022 at 17:13:41 UTC+1, Martin Brown wrote:
>
>> I'm fairly convinced that crypto currencies will eventually fall out of
>> fashion when people wise up to just how much they contribute to global
>> warming. You would be hard pressed to invent something more wasteful of
>> energy for the value of the transactions processed.
> +1
>
> John
The article mentions Terra Luna Crypto, 10 days ago the price was $86.17
today it is $0.0001965.
To clarify, that is 19/100 of one cent. 5 weeks ago it was $116.41.

> https://coinmarketcap.com/currencies/terra-luna/

 Oh, just looked at the chart in the link, it is down another 45% in
the last hour since I looked. $0.0001037!!
                             Mikek

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Subject: Re: OT crypto crash
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 by: John Larkin - Sat, 14 May 2022 00:04 UTC

On Fri, 13 May 2022 18:57:46 -0500, amdx <amdx@knology.net> wrote:

>On 5/12/2022 3:05 PM, John Walliker wrote:
>> On Thursday, 12 May 2022 at 17:13:41 UTC+1, Martin Brown wrote:
>>
>>> I'm fairly convinced that crypto currencies will eventually fall out of
>>> fashion when people wise up to just how much they contribute to global
>>> warming. You would be hard pressed to invent something more wasteful of
>>> energy for the value of the transactions processed.
>> +1
>>
>> John
>The article mentions Terra Luna Crypto, 10 days ago the price was $86.17
>today it is $0.0001965.
>To clarify, that is 19/100 of one cent. 5 weeks ago it was $116.41.
>
>> https://coinmarketcap.com/currencies/terra-luna/
>
>  Oh, just looked at the chart in the link, it is down another 45% in
>the last hour since I looked. $0.0001037!!
>                              Mikek

Sell! Sell!

--

If a man will begin with certainties, he shall end with doubts,
but if he will be content to begin with doubts he shall end in certainties.
Francis Bacon

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 by: Ed Lee - Sat, 14 May 2022 00:09 UTC

On Friday, May 13, 2022 at 4:57:56 PM UTC-7, amdx wrote:
> On 5/12/2022 3:05 PM, John Walliker wrote:
> > On Thursday, 12 May 2022 at 17:13:41 UTC+1, Martin Brown wrote:
> >
> >> I'm fairly convinced that crypto currencies will eventually fall out of
> >> fashion when people wise up to just how much they contribute to global
> >> warming. You would be hard pressed to invent something more wasteful of
> >> energy for the value of the transactions processed.
> > +1
> >
> > John
> The article mentions Terra Luna Crypto, 10 days ago the price was $86.17
> today it is $0.0001965.
> To clarify, that is 19/100 of one cent. 5 weeks ago it was $116.41.
>
> > https://coinmarketcap.com/currencies/terra-luna/
>
> Oh, just looked at the chart in the link, it is down another 45% in
> the last hour since I looked. $0.0001037!!
> Mikek

1/100 of a cent? But who's counting zeros.

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 by: amdx - Sat, 14 May 2022 00:19 UTC

On 5/12/2022 3:05 PM, John Walliker wrote:
> On Thursday, 12 May 2022 at 17:13:41 UTC+1, Martin Brown wrote:
>
>> I'm fairly convinced that crypto currencies will eventually fall out of
>> fashion when people wise up to just how much they contribute to global
>> warming. You would be hard pressed to invent something more wasteful of
>> energy for the value of the transactions processed.
> +1
>
> John
The article mentions Terra Luna Crypto, 10 days ago the price was $86.17
today it is $0.0001965.
To clarify, that is 19/100 of one cent. 5 weeks ago it was $116.41.

> https://coinmarketcap.com/currencies/terra-luna/

 Oh, just looked at the chart in the link, it is down another 45% in
the last hour since I looked. $0.0001037!!
                             Mikek

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Re: OT crypto crash

<t5mtcd$ucu$1@dont-email.me>

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From: amd...@knology.net (amdx)
Newsgroups: sci.electronics.design
Subject: Re: OT crypto crash
Date: Fri, 13 May 2022 19:33:15 -0500
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 by: amdx - Sat, 14 May 2022 00:33 UTC

On 5/13/2022 7:09 PM, Ed Lee wrote:
> On Friday, May 13, 2022 at 4:57:56 PM UTC-7, amdx wrote:
>> On 5/12/2022 3:05 PM, John Walliker wrote:
>>> On Thursday, 12 May 2022 at 17:13:41 UTC+1, Martin Brown wrote:
>>>
>>>> I'm fairly convinced that crypto currencies will eventually fall out of
>>>> fashion when people wise up to just how much they contribute to global
>>>> warming. You would be hard pressed to invent something more wasteful of
>>>> energy for the value of the transactions processed.
>>> +1
>>>
>>> John
>> The article mentions Terra Luna Crypto, 10 days ago the price was $86.17
>> today it is $0.0001965.
>> To clarify, that is 19/100 of one cent. 5 weeks ago it was $116.41.
>>
>>> https://coinmarketcap.com/currencies/terra-luna/
>> Oh, just looked at the chart in the link, it is down another 45% in
>> the last hour since I looked. $0.0001037!!
>> Mikek
> 1/100 of a cent? But who's counting zeros.
 Oh, well that makes a difference! Ya, I should have had a decimal
point, 1.9/100 of one cent.
 It's up 30% since my post 35 minutes ago.
 And John said sell, boy, what does he know? :-)
                  Mikek

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Re: OT crypto crash

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Newsgroups: sci.electronics.design
Subject: Re: OT crypto crash
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 by: amdx - Sat, 14 May 2022 13:17 UTC

On 5/13/2022 7:04 PM, John Larkin wrote:
> On Fri, 13 May 2022 18:57:46 -0500, amdx <amdx@knology.net> wrote:
>
>> On 5/12/2022 3:05 PM, John Walliker wrote:
>>> On Thursday, 12 May 2022 at 17:13:41 UTC+1, Martin Brown wrote:
>>>
>>>> I'm fairly convinced that crypto currencies will eventually fall out of
>>>> fashion when people wise up to just how much they contribute to global
>>>> warming. You would be hard pressed to invent something more wasteful of
>>>> energy for the value of the transactions processed.
>>> +1
>>>
>>> John
>> The article mentions Terra Luna Crypto, 10 days ago the price was $86.17
>> today it is $0.0001965.
>> To clarify, that is 19/100 of one cent. 5 weeks ago it was $116.41.
>>
>>> https://coinmarketcap.com/currencies/terra-luna/
>>  Oh, just looked at the chart in the link, it is down another 45% in
>> the last hour since I looked. $0.0001037!!
>>                              Mikek
> Sell! Sell!
>
 John, you should have bought, bought, bought! The price has quadrupled
from
the low yesterday! It is all the way up to $0.00039 per coin. :-)
                                   Mikek

--
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Re: OT crypto crash

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Subject: Re: OT crypto crash
From: edward.m...@gmail.com (Ed Lee)
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 by: Ed Lee - Sat, 14 May 2022 13:55 UTC

On Saturday, May 14, 2022 at 6:18:03 AM UTC-7, amdx wrote:
> On 5/13/2022 7:04 PM, John Larkin wrote:
> > On Fri, 13 May 2022 18:57:46 -0500, amdx <am...@knology.net> wrote:
> >
> >> On 5/12/2022 3:05 PM, John Walliker wrote:
> >>> On Thursday, 12 May 2022 at 17:13:41 UTC+1, Martin Brown wrote:
> >>>
> >>>> I'm fairly convinced that crypto currencies will eventually fall out of
> >>>> fashion when people wise up to just how much they contribute to global
> >>>> warming. You would be hard pressed to invent something more wasteful of
> >>>> energy for the value of the transactions processed.
> >>> +1
> >>>
> >>> John
> >> The article mentions Terra Luna Crypto, 10 days ago the price was $86.17
> >> today it is $0.0001965.
> >> To clarify, that is 19/100 of one cent. 5 weeks ago it was $116.41.
> >>
> >>> https://coinmarketcap.com/currencies/terra-luna/
> >> Oh, just looked at the chart in the link, it is down another 45% in
> >> the last hour since I looked. $0.0001037!!
> >> Mikek
> > Sell! Sell!
> >
> John, you should have bought, bought, bought! The price has quadrupled
> from
> the low yesterday! It is all the way up to $0.00039 per coin. :-)

Even borrowed time is worth a little bit. UST (TerraUSD) is at $0.19. Terra Luna is designed to destroy UST tokens to push price up to $1, by printing more Luna. Currently, there are 6,530,000,000,000 Luna. They have to increase it several times. Only Lunatic would put new money into Luna.

Re: OT crypto crash

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Subject: Re: OT crypto crash
Date: Sat, 14 May 2022 07:24:21 -0700
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 by: jlar...@highlandsniptechnology.com - Sat, 14 May 2022 14:24 UTC

On Sat, 14 May 2022 08:17:51 -0500, amdx <amdx@knology.net> wrote:

>On 5/13/2022 7:04 PM, John Larkin wrote:
>> On Fri, 13 May 2022 18:57:46 -0500, amdx <amdx@knology.net> wrote:
>>
>>> On 5/12/2022 3:05 PM, John Walliker wrote:
>>>> On Thursday, 12 May 2022 at 17:13:41 UTC+1, Martin Brown wrote:
>>>>
>>>>> I'm fairly convinced that crypto currencies will eventually fall out of
>>>>> fashion when people wise up to just how much they contribute to global
>>>>> warming. You would be hard pressed to invent something more wasteful of
>>>>> energy for the value of the transactions processed.
>>>> +1
>>>>
>>>> John
>>> The article mentions Terra Luna Crypto, 10 days ago the price was $86.17
>>> today it is $0.0001965.
>>> To clarify, that is 19/100 of one cent. 5 weeks ago it was $116.41.
>>>
>>>> https://coinmarketcap.com/currencies/terra-luna/
>>>  Oh, just looked at the chart in the link, it is down another 45% in
>>> the last hour since I looked. $0.0001037!!
>>>                              Mikek
>> Sell! Sell!
>>
>  John, you should have bought, bought, bought! The price has quadrupled
>from
>the low yesterday! It is all the way up to $0.00039 per coin. :-)
>                                    Mikek

Darn. I could have bought a whole blueberry.

--

Anybody can count to one.

- Robert Widlar

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 by: jlar...@highlandsniptechnology.com - Sat, 14 May 2022 14:30 UTC

On Sat, 14 May 2022 06:55:49 -0700 (PDT), Ed Lee
<edward.ming.lee@gmail.com> wrote:

>On Saturday, May 14, 2022 at 6:18:03 AM UTC-7, amdx wrote:
>> On 5/13/2022 7:04 PM, John Larkin wrote:
>> > On Fri, 13 May 2022 18:57:46 -0500, amdx <am...@knology.net> wrote:
>> >
>> >> On 5/12/2022 3:05 PM, John Walliker wrote:
>> >>> On Thursday, 12 May 2022 at 17:13:41 UTC+1, Martin Brown wrote:
>> >>>
>> >>>> I'm fairly convinced that crypto currencies will eventually fall out of
>> >>>> fashion when people wise up to just how much they contribute to global
>> >>>> warming. You would be hard pressed to invent something more wasteful of
>> >>>> energy for the value of the transactions processed.
>> >>> +1
>> >>>
>> >>> John
>> >> The article mentions Terra Luna Crypto, 10 days ago the price was $86.17
>> >> today it is $0.0001965.
>> >> To clarify, that is 19/100 of one cent. 5 weeks ago it was $116.41.
>> >>
>> >>> https://coinmarketcap.com/currencies/terra-luna/
>> >> Oh, just looked at the chart in the link, it is down another 45% in
>> >> the last hour since I looked. $0.0001037!!
>> >> Mikek
>> > Sell! Sell!
>> >
>> John, you should have bought, bought, bought! The price has quadrupled
>> from
>> the low yesterday! It is all the way up to $0.00039 per coin. :-)
>
>Even borrowed time is worth a little bit. UST (TerraUSD) is at $0.19. Terra Luna is designed to destroy UST tokens to push price up to $1, by printing more Luna. Currently, there are 6,530,000,000,000 Luna. They have to increase it several times. Only Lunatic would put new money into Luna.

Beanie Babies, Thomas Kinkade paintings, little glass figurines,
Bitcoins, all essentially worthless.

--

Anybody can count to one.

- Robert Widlar

Re: OT crypto crash

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Newsgroups: sci.electronics.design
Subject: Re: OT crypto crash
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 by: Jeroen Belleman - Sat, 14 May 2022 15:21 UTC

On 2022-05-14 16:30, jlarkin@highlandsniptechnology.com wrote:
> On Sat, 14 May 2022 06:55:49 -0700 (PDT), Ed Lee
> <edward.ming.lee@gmail.com> wrote:
>
>> On Saturday, May 14, 2022 at 6:18:03 AM UTC-7, amdx wrote:
>>> On 5/13/2022 7:04 PM, John Larkin wrote:
>>>> On Fri, 13 May 2022 18:57:46 -0500, amdx <am...@knology.net> wrote:
>>>>
>>>>> On 5/12/2022 3:05 PM, John Walliker wrote:
>>>>>> On Thursday, 12 May 2022 at 17:13:41 UTC+1, Martin Brown wrote:
>>>>>>
>>>>>>> I'm fairly convinced that crypto currencies will eventually fall out of
>>>>>>> fashion when people wise up to just how much they contribute to global
>>>>>>> warming. You would be hard pressed to invent something more wasteful of
>>>>>>> energy for the value of the transactions processed.
>>>>>> +1
>>>>>>
>>>>>> John
>>>>> The article mentions Terra Luna Crypto, 10 days ago the price was $86.17
>>>>> today it is $0.0001965.
>>>>> To clarify, that is 19/100 of one cent. 5 weeks ago it was $116.41.
>>>>>
>>>>>> https://coinmarketcap.com/currencies/terra-luna/
>>>>> Oh, just looked at the chart in the link, it is down another 45% in
>>>>> the last hour since I looked. $0.0001037!!
>>>>> Mikek
>>>> Sell! Sell!
>>>>
>>> John, you should have bought, bought, bought! The price has quadrupled
>>> from
>>> the low yesterday! It is all the way up to $0.00039 per coin. :-)
>>
>> Even borrowed time is worth a little bit. UST (TerraUSD) is at $0.19. Terra Luna is designed to destroy UST tokens to push price up to $1, by printing more Luna. Currently, there are 6,530,000,000,000 Luna. They have to increase it several times. Only Lunatic would put new money into Luna.
>
> Beanie Babies, Thomas Kinkade paintings, little glass figurines,
> Bitcoins, all essentially worthless.

The same is true for dollars, strictly speaking. The whole economy is
based on trust. As long as you can exchange your basically worthless
tokens for something you need when you need it, the system works. It's
scary, really.

Jeroen Belleman

Re: OT crypto crash

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Subject: Re: OT crypto crash
From: edward.m...@gmail.com (Ed Lee)
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 by: Ed Lee - Sat, 14 May 2022 15:38 UTC

On Saturday, May 14, 2022 at 8:21:58 AM UTC-7, Jeroen Belleman wrote:
> On 2022-05-14 16:30, jla...@highlandsniptechnology.com wrote:
> > On Sat, 14 May 2022 06:55:49 -0700 (PDT), Ed Lee
> > <edward....@gmail.com> wrote:
> >
> >> On Saturday, May 14, 2022 at 6:18:03 AM UTC-7, amdx wrote:
> >>> On 5/13/2022 7:04 PM, John Larkin wrote:
> >>>> On Fri, 13 May 2022 18:57:46 -0500, amdx <am...@knology.net> wrote:
> >>>>
> >>>>> On 5/12/2022 3:05 PM, John Walliker wrote:
> >>>>>> On Thursday, 12 May 2022 at 17:13:41 UTC+1, Martin Brown wrote:
> >>>>>>
> >>>>>>> I'm fairly convinced that crypto currencies will eventually fall out of
> >>>>>>> fashion when people wise up to just how much they contribute to global
> >>>>>>> warming. You would be hard pressed to invent something more wasteful of
> >>>>>>> energy for the value of the transactions processed.
> >>>>>> +1
> >>>>>>
> >>>>>> John
> >>>>> The article mentions Terra Luna Crypto, 10 days ago the price was $86.17
> >>>>> today it is $0.0001965.
> >>>>> To clarify, that is 19/100 of one cent. 5 weeks ago it was $116.41.
> >>>>>
> >>>>>> https://coinmarketcap.com/currencies/terra-luna/
> >>>>> Oh, just looked at the chart in the link, it is down another 45% in
> >>>>> the last hour since I looked. $0.0001037!!
> >>>>> Mikek
> >>>> Sell! Sell!
> >>>>
> >>> John, you should have bought, bought, bought! The price has quadrupled
> >>> from
> >>> the low yesterday! It is all the way up to $0.00039 per coin. :-)
> >>
> >> Even borrowed time is worth a little bit. UST (TerraUSD) is at $0.19. Terra Luna is designed to destroy UST tokens to push price up to $1, by printing more Luna. Currently, there are 6,530,000,000,000 Luna. They have to increase it several times. Only Lunatic would put new money into Luna.
> >
> > Beanie Babies, Thomas Kinkade paintings, little glass figurines,
> > Bitcoins, all essentially worthless.
> The same is true for dollars, strictly speaking. The whole economy is
> based on trust. As long as you can exchange your basically worthless
> tokens for something you need when you need it, the system works. It's
> scary, really.

They will fix the broken promise with another promise. The original 30 billions (real dollars) or so pumped into UST/Luna are gone forever. They will restart the blockchain with another billion tokens. Just give them another 30 billions USD and everything will be fine. Trust them.

Re: OT crypto crash

<t5ooad$2rj$1@dont-email.me>

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Subject: Re: OT crypto crash
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 by: amdx - Sat, 14 May 2022 17:19 UTC

On 5/14/2022 8:55 AM, Ed Lee wrote:
> On Saturday, May 14, 2022 at 6:18:03 AM UTC-7, amdx wrote:
>> On 5/13/2022 7:04 PM, John Larkin wrote:
>>> On Fri, 13 May 2022 18:57:46 -0500, amdx <am...@knology.net> wrote:
>>>
>>>> On 5/12/2022 3:05 PM, John Walliker wrote:
>>>>> On Thursday, 12 May 2022 at 17:13:41 UTC+1, Martin Brown wrote:
>>>>>
>>>>>> I'm fairly convinced that crypto currencies will eventually fall out of
>>>>>> fashion when people wise up to just how much they contribute to global
>>>>>> warming. You would be hard pressed to invent something more wasteful of
>>>>>> energy for the value of the transactions processed.
>>>>> +1
>>>>>
>>>>> John
>>>> The article mentions Terra Luna Crypto, 10 days ago the price was $86.17
>>>> today it is $0.0001965.
>>>> To clarify, that is 19/100 of one cent. 5 weeks ago it was $116.41.
>>>>
>>>>> https://coinmarketcap.com/currencies/terra-luna/
>>>> Oh, just looked at the chart in the link, it is down another 45% in
>>>> the last hour since I looked. $0.0001037!!
>>>> Mikek
>>> Sell! Sell!
>>>
>> John, you should have bought, bought, bought! The price has quadrupled
>> from
>> the low yesterday! It is all the way up to $0.00039 per coin. :-)
> Even borrowed time is worth a little bit. UST (TerraUSD) is at $0.19. Terra Luna is designed to destroy UST tokens to push price up to $1, by printing more Luna. Currently, there are 6,530,000,000,000 Luna. They have to increase it several times. Only Lunatic would put new money into Luna.
 Ed, you need to educate me. When you say "UST (TerraUSD) is at
$0.19",  Is that something different than the Terra Luna I see here,
> https://coinmarketcap.com/currencies/terra-luna/ That is $0.0003652 as
> I write.

And what is the Fork?
> https://agora.terra.money/t/fork-luna-time-to-pull-an-etc-vs-eth-stunt/7288

                                   Mikek

                              Mikek

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Re: OT crypto crash

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Subject: Re: OT crypto crash
From: edward.m...@gmail.com (Ed Lee)
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 by: Ed Lee - Sat, 14 May 2022 17:30 UTC

On Saturday, May 14, 2022 at 10:19:16 AM UTC-7, amdx wrote:
> On 5/14/2022 8:55 AM, Ed Lee wrote:
> > On Saturday, May 14, 2022 at 6:18:03 AM UTC-7, amdx wrote:
> >> On 5/13/2022 7:04 PM, John Larkin wrote:
> >>> On Fri, 13 May 2022 18:57:46 -0500, amdx <am...@knology.net> wrote:
> >>>
> >>>> On 5/12/2022 3:05 PM, John Walliker wrote:
> >>>>> On Thursday, 12 May 2022 at 17:13:41 UTC+1, Martin Brown wrote:
> >>>>>
> >>>>>> I'm fairly convinced that crypto currencies will eventually fall out of
> >>>>>> fashion when people wise up to just how much they contribute to global
> >>>>>> warming. You would be hard pressed to invent something more wasteful of
> >>>>>> energy for the value of the transactions processed.
> >>>>> +1
> >>>>>
> >>>>> John
> >>>> The article mentions Terra Luna Crypto, 10 days ago the price was $86.17
> >>>> today it is $0.0001965.
> >>>> To clarify, that is 19/100 of one cent. 5 weeks ago it was $116.41.
> >>>>
> >>>>> https://coinmarketcap.com/currencies/terra-luna/
> >>>> Oh, just looked at the chart in the link, it is down another 45% in
> >>>> the last hour since I looked. $0.0001037!!
> >>>> Mikek
> >>> Sell! Sell!
> >>>
> >> John, you should have bought, bought, bought! The price has quadrupled
> >> from
> >> the low yesterday! It is all the way up to $0.00039 per coin. :-)
> > Even borrowed time is worth a little bit. UST (TerraUSD) is at $0.19. Terra Luna is designed to destroy UST tokens to push price up to $1, by printing more Luna. Currently, there are 6,530,000,000,000 Luna. They have to increase it several times. Only Lunatic would put new money into Luna.
> Ed, you need to educate me. When you say "UST (TerraUSD) is at
> $0.19", Is that something different than the Terra Luna I see here,
> > https://coinmarketcap.com/currencies/terra-luna/ That is $0.0003652 as
> > I write.

Yes, they are different but related.

UST is the main stable coin that is supposed to be fixed at $1, by manipulating the price and supply of Terra Luna. Not sure if I get the exact mechanism right, but it's not working anyway. I think UST was originally exchanged for 30 billions in dollars and bitcoins. With both UST and Luna worthless, the original investment vaporized.

> And what is the Fork?
> > https://agora.terra.money/t/fork-luna-time-to-pull-an-etc-vs-eth-stunt/7288

Reprinting Luna, destroying the existing coins. The old Luna is like confederate money, new money takes over.

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