#bitcoin drop today

[txttletale]

i remember there was a lot about nfts/the blockchain having a massive impact on the environment, do you know if there's been anything similar wrt the programs for ai art?

also bc you've been answering a Lot of ai questions today. have you read any of john darnielle's books? if so, what'd you think of them?

nfts and crypto more broadly are extremely wasteful (in relative terms, in absolute terms they're obviously a drop in the ocean compared to like. Cars) because proof of work means that al cryptocurrencies require constantly increasing amounts of computing power per new token, which is why you ended up with warehouses and warehouses of bitcoin mining rigs. ai art isn't like that, it doesn't use significantly more electricity than any other tool hosted online

[christianstepmoms]

I put $2 into cash apps bitcoin investment sector for shits and giggles forever ago, which I now kinda use as a Canary in the Coal Mine for stupid crypto bullshit, it's since doubled to around $4, but all of a sudden today I see a bunch of news articles being pushed to me saying that Crypto is the future, and that new Bitcoin mania is upon us so I go to check my cashapp and it's dropped back down to $3.10 with a giant plummeting line downward lmao.

[sn4pozu]

my headcanons of Eddie Gluskin if he had a twitter :

he'd repost those RETVRN incel trad memes where its like a woman doing house chores & man doing job stuff

would get into arguments with a woman and subscribe to her onlyfans at the same time (gets mad when blocked)

tries to be professional and a know-it-all but also his entire likes tab is porn (he doesnt know it shows publicly)

calls someone a whore & drops a bible verse in the same thread arguing with them

idk if he'd be delighted with minion memes or viscerally hate them

USES DISNEY REACTION GIFS WITH NO SHAME , USES A CRYING STITCH GIF AT A DODO VIDEO OF A DOG DYING

If twitter bans his account mid argument he'd flip the fuck out and make 3 gmails & alts at the same hour

100% posts creepy comments under peoples post and gets upset if it gets hidden

flirts so much you'd think hes a bot but no he's just sending random women his number (does he care if they're married or not is completely dependant on his mood)

uses the nice guy card whenever shit starts going south

he gets doxxed he goes like "that's not me" (lies, is scared)

either that or he lashes out and start sending them death threats who knows

menace with the twitter Voice Note feature

not even a mutual KYS no hes going to write out his whole murder fantasy in a person's DMs and blocks them before they could respond

gets IP banned on twitter like, weekly, he just figures out VPN apps and finds a way to harrass people constantly

media tab is his breakfast and someones mutilated genitals, bi-weekly photo updates maybe

im not saying he would complain about hairloss but he would complain about hairloss

"i got declined by the pharmacist for asthma medication, fucking bitch *insert something mysogonistic*"

thinks bitcoin is stupid and not a real "manly job" so he dogs on them pretty horribly

thinks tech jobs are for NERDS and says it outloud whenever them NFT bros are commenting under his shit attacking him for calling them nerds

Cracked phone screen with blood in the cracks (he tried to clean it with soapy water on a towel but it just ruined the lcd now its forever stained yellow) ((free bluescreen eye protector mode ?)) (((also has to violently tap the home button because its already broken & that part of the screen died))) ((((has an odd smell))))

he wishes he'd have glasses for the phone screen but all he does is squint

would post dress updates though <3 maybe retweets sewing patterns and videos of old women knitting and go "my grandmother used to do that pattern, ❤️ Wow."

goes back to shitting on women

*posts black coffee with 2 fruitflies in it* "A Good Way To Start A Morning ☕"

posts half eaten food and the dirty plate and would be like "Delicious food today 😋 i almost forgot to pots." -- deletes & reposts because of the typo. PEOPLE CANNOT THINK HE'S WEAK.

His vest would 100% be posted on those gimmick accounts and gets picked on for it being crusty & grody 😔

DMs like multiple women at the same time and either gets immediately blocked or ghosted after a face reveal

he Has cried because of twitter comments before, never again......

has twitter warning threads made of him and has tried to draw a stupid fucking wojack on paper with pencil & pen because he doesnt know how to edit photos but he still wants to own the haters

posts gore to own the haters as well and then got mass reported to death when people found 0 similar images of the gore he posted

'A Thread On @/Eddie287367927 TW: Gore, Mutilation, Harassment, Transphobia, Misogyny'

probably had a youtube documentary made about his twitter acc and all the drama he got himself into (either by accident or for fun)

ok this idea kinda came up to me after i saw a trad meme come up on my tl and i just HAD to dump this all out somewhere

[truetalesteam]

Season 3 Crowdfund - 50% Funded, 13 Days to Go!

We've still got our noses to the crowdfund grindstone over at True Tales of the Illuminati HQ. We've now hit 50% funded, which is amazing! But of course we do still have 50% left to go, and every night our chief producer looks at that little bar on the crowdfund and cartoonishly mops his brow.

Why are tiny blue cell-shaded drops appearing on his forehead, you ask? Because we have only 13 remaining days to raise a little over 4k for our stupidly ambitious 5-episode season two. 

We're so excited to bring another season of this (twice audioverse finalist!) show to you, our favorite yet, and bring it to life with the help of our incredible voice actors. Who, by the way, your can get to say whatever you want* as one of our backer tiers. Note that our limited-backer tiers for those of you who were wise enough not to invest in bitcoin are still completely untaken, including the chance to pick a minisode for our next season's crowdfund(you can even pitch one for our consideration!)

If you can't back, we'd love if you shared on social media! Our backer count spikes every time we pop up on people's feeds, so it really does make a difference. We live in a hell future where our success or failure is determined by complex marketing algorithms! Just like the Illuminati envisioned. Or as the motto goes, "Obey the algorithm and you'll be in heaven!" I guess we should just be proud they managed a slant-rhyme

Our next milestone is at $6k, when we’ll be releasing the minisode Basket Case, which sees Beck and co go up against the Druids and their many nefarious stone calendars. It also features another guest, our good friend Taqi Nazeer as High Druid Corbin. You may recognize Taqi as the voice of mechanical mage Eisen from fellow historical adventure-comedy The Kingmaker Histories.

After that we’ll have one more at the final goal of $9k, written and starring Wooden Overcoats’ own Tom Crowley! That’s right, we’ve got guest stars for days!

If you back us at $5 or more, we guarantee that regardless of the money we raise, after the crowdfund closes you’ll get to listen to all of the minisodes that we’ve produced. But if we don't make it to our funding goal, then only backers will get to listen to the full complement of the minisodes that we’ve prepared for this crowdfund, and all of the rest of you will have to live a twisted half-life without the sensual tones of Tom Crowley saying classy, poetic words in British English like "beastial mentality" and "phantom dolphin". We wouldn’t wish that on anyone!

So, if you’ve read this far and we haven’t completely lost you with talk of druids and dolphins, then please, please head on over to truetalesteam.com/crowdfund and pledge today.

Illuminati Ollominoto, The True Tales Team

*Be cool or we will say no

[just-emis-blog]

The Okayest Adventures of Bunny Guy

Issue #3

“What’s wrong little bunny rabbit? You’re not giving up so soon, are you?”

Had there not been a giant tentacle wrapped around his esophagus and suspending him about 20 feet up in the air, Nicholai would have happily responded with a resounding “yes dear god please end me”. As it stood, all he could manage was a sort of gurgling noise, so thankfully his promise to the more mainstream Superheroes to cease asking Villain’s to publicly execute him would remain kept. 

The Villain cackled in the face of Nicholai’s pathetic response. He was a muscular, bipedal wolfman about the size of a double decker bus, with huge octopus tentacles erupting from his back and either side of his torso. Merely twenty-four hours ago he was Jim Steelburn; mild mannered Calculus Professor at Umbre University. He had transformed into this monstrosity after making a grievous error in an experiment he was conducting illegally on school grounds - something about changing New Balance’s into gold or making his dick bigger (Nicholai had stopped listening halfway through the intro monologue. He was sleep deprived. Sue him) - and had summarily done what all these mad scientist types seemed to do when they were granted even a modicum of power: he flounced off to rob the nearest bank.

Forget the fact that most modern banks didn’t have a cartoonishly giant vault with millions of dollars worth of cash and jewels and bitcoins inside. Let it never be said that having a STEM degree didn’t make you any less of an idiot.

As Mr. Steelburn - now self christened Bruteavus - continued to rant about all the complex and inventive ways he was going to kill him, Nicholai forced himself to stop struggling - dropping his hands from their desperate hold on the tentacle, ceasing his fruitless kicks to the air, letting his large black rabbit ears droop down on either side of his head in defeat. It was agonizing, and the little bit of air he’d been able to draw in was nearly cut off completely, but he needed an opening to catch this jackass off guard. If he had gotten a good read on the guy’s little Apex Predator gimmick, then playing dead should do the trick.

It wasn’t long before Bruteavus took notice of his limp captor. His salivating maw curled into a vicious smirk as he finally stopped whipping Nicholai about like the sack of discount potatoes that he was. He whirled around and spread his normal (normal??) wolf arms out to address the cowering crowd of civilians. “Is this pathetic rodent all the City has to protect it? Pathetic!” he bellowed. Boastful. Already confident in his win. Just like clockwork. “Gather ‘round everyone, and see what happens to those stupid enough to challenge me! The Terrible Bruteavus!”

Bruteavus carried on. Nicholai flicked his wrist, causing a dagger to drop into his waiting palm. Then, he swung his arm out as far as it would allow and proceeded to stab the tentacle holding him by the throat, furiously and repeatedly, over and over and over again.

Bruteavus’ howl of pain was more akin to a crying husky than the mighty wolf monster he claimed to be. At around the seventy-fifth stab the octopus limb finally released him, sending him plummeting to the ground. There were gasps of shock sounding off in the crowd. Whether it stemmed from concern over his graceless carcass slamming spine first onto the unforgiving street, or fear from his earlier rapid fire shanking, Nicholai didn’t know. Nor did he have time to reassure them that he was alive and not a feral serial killer, as Bruteavus had recovered and was sending his remaining octo limbs to crush and/or capture him again.

Nicholai used his speed and super hearing to duck and dodge the tentacles. On a normal day he would’ve been able to subdue such a whack ass, low tier Villain in a matter of minutes, but today he wasn’t exactly firing on all cylinders, as it were, so instead this rather one sided beatdown had been going on for several hours. Hours where he was quickly losing stamina, and dangerously close to succumbing to his injuries -

“Bunny Guy! Look out!”

A very brave, very adorable, very not so smart child had broken through the barricade the cops had put up to keep the civilians out of the way of the battle, pointing dramatically at something Nicholai didn’t bother to check, because the boy had put himself in the way of an incoming tentacle. Nicholai had just enough time to expel an utterly exhausted sigh before rushing towards the kid.

Now. Honestly. The plan was to grab the kid, execute some very cool flips to doge the tentacle, deposit said kid into his parent’s awaiting arms, and wrap up the whole maneuver by giving a hearty thumbs up (just like how Captain Gold-Star had taught him) to reassure the public.

His body, unfortunately, did not feel like following certain aspects of that plan. So all he managed to do was push the kid out of the way, just in time to take the full force of the tentacle to the chest, and be sent careening into the door of a distant jeep cherokee.

For an unknown amount of time all Nicholai could do was lay there in a bloody heap on the pavement. There was a piercing ringing going on his ears, along with the faint sounds of yelling and possibly the alarm of the jeep he had just dented to hell and back.

Bruteavus approached him, slow and menacing like, probably making some stupid puns about predators and prey. Nicholai had about two brain cells firing at any given time, and the one that liked to indulge in the art of corny banter had been stabbed out of him during a mugging he had prevented earlier this morning. Instead, he put his full concentration into making his horribly aching body get up and move. Not for the first time he wished he had something more to protect him than his athletic body suit, hoodie, basketball shorts (some cheap off brand that he got suckered into ordering, too. The fabric dark green instead of black, and the words Indianapolis Spacers emblazoned on his ass. Who the fuck were the Spacers Amazon??) and a finicky healing factor that was highly dependent on carrots of all things. 

Vigilantism just wasn’t a very lucrative business, so unessential things like gear and food were often in short supply.

But boy howdy could he use one of those top of the line, nanotech, under armor that the Super Alliance were always toting, he thought as the blood he’d been coughing up dripped unpleasantly through his gaiter mask. Being hurled into various buildings and sharp objects probably wouldn’t hurt nearly as much if he could wear one of those bad boys.

“Times up little bunny, no more running.” Bruteavus chuckled cruelly, now standing only a few feet in front of him, and Nicholai had only managed to put his arms under him and lift his torso somewhat off the ground. “And - Oh! It looks like your luck has really run out, rodent. It seems we have a surprise guest joining us in our game today!”

Nicholai’s ears twitched at the sound of crunching glass and debris - another set of footsteps approaching at a leisure pace. He wasn’t bluffing then, not that the wolfman needed to with him so incapacitated, but - jeeze louise. Two Super Villains in one day? How many babies had he kicked into an endzone in his previous life to deserve this kind of misfortune?

A pair of steel toed boots came into his line of sight from his prone view, but instead of kicking him in his unprotected throat (a fairly prime place for a Villain to kick Nicholai had learned from experience), the figure continued past until he was standing in front of him.

“What an honor it is to finally meet you in person, Plague Master! Allow me to introduce myself - they call me Bruteavus, and I - ACKKCHH!!!!!!”

Bruteavus broke off into a primal and guttural scream as a buzzing, black cloud engulfed his entire form and lifted him several feet into the air. Parts of the writhing dark mass separated into two enormous hand-like shapes; each of them grabbing a fist full of Bruteavus’ tentacles and pulling them apart, while the remainder of them wrapped around him tightly in a blackened blanket, keeping only his snout and eyes visible.

Eyes that were bulging in increasing panic, as the previously thought to be black specs revealed themselves as thousands upon millions of small metal scarab beetles, crawling around every inch of his befurred form, and leaving no orifice unexplored. 

Nicholai pushed himself up into a sitting position, and after the world stopped spinning, was able to get a good look at the back of the towering mysterious Villain in front of him. 

Hm. Even without the horrifying death cloud currently tormenting Bruteavus, Nicholai would recognize those shoulder blades anywhere.

“Hey babe, what brings you here?”

“You were late for our brunch, dearest,” replied the Villain, the staticy sound of his voice modulator unable to hide his charming British accent.

Late? Nicholai blinked a few times in confusion. It could be the blood loss talking, but he could’ve sworn that they’re date wasn’t scheduled until (he checked his watch) seventy-two…hours…ago. Oof. Yikes. Somewhere between rescuing those baby ducks out of that manhole and getting kidnapped and getting stabbed in the kidney by that mugger and then this whole Scott McCall wannabe debacle he must have lost track of time…

“Ah dang, sorry hon. I really goofed it this time.”

“All is forgiven, beloved.” He looked over his shoulder, taking in Nicholai’s sorry state. His metal mask was featureless except for the two, glowing red dots where his eyes would be, so Nicholai could not read his expression, nor could decipher his tone with the modulator making his every word as monotonously pleasant as GPS directions. “I am simply glad that I found you.”

Noticeably, the volume of Bruteavus’ screaming increased tenfold. Oh boy.

“Babe? Babe. What did we say about killing people in cold blood, babe?”

“Make them beg before dealing the final blow.”

Oh boy.

“Close. It’s to not do that. Tell you what, since you tried so hard I’ll still make you your favorite brownies.” With all the remaining strength that stupid radioactive alien rabbit had granted him, Nicholai hauled himself up into a standing position. “All you have to do is let go of the furry OC I drew back in 8th grade over here, and - and I’ll get right to that.”

The beginnings of tendons tearing and bones cracking echoed throughout the street. Nicholai placed a trembling hand on the Villain’s arm.

“Please?”

The screaming stopped. The cloud dispersed, which caused Bruteavus to fall abruptly back to earth, all of his unnecessary limbs intact, if a bit worse for wear.

Plague Master spun around, dismissive and unconcerned of the enemy at his back. He placed one gloved hand lovingly on his cheek, while the other gently held his arm in a supportive gesture. A good thing too. Nicholai definitely wouldn’t be able to hold his own weight up for much longer.

“Well, you know I do so love your brownies, darling. You’ll make the ones with the raisins?”

“Yes I’ll make them with your gross ass raisins.”

“You pronounced ‘delicious’ incorrectly, my love.”

“Monster.”

“Mm. Your monster.”

He caught a glimpse of Bruteavus, who hadn’t moved from his position except to wrap his own tentacles around himself while he rocked back and forth for comfort. Then his gaze shifted to the crowd of civilians, who seemed to collectively be having a mass fear response and were completely paralyzed in place. 

Nicholai sighed in fond exasperation and pressed his cheek further into his boyfriend’s palm. His monster indeed.  

[sarkos]

Kai Meinke called the speech "embarrassing." "This embarrassing Trump rambling at #Bitcoin2024 conference about electricity, Biden as a terrible human being and other nonsense is hurting," he said. "It is hurting my brain, it hurts what #btc stands for and the reputation of the community. What a shame!" Martin Vrijland said Trump's speech actually tanked the price of the cryptocurrency. "#Bitcoin was above $69.4k today until Trump started speaking at the Bitcoin conference #Bitcoin2024Nashville and it dropped all the way down to $66.6k," Vrijland wrote Saturday. Mike Doan said he actually fell asleep during the speech, despite being initially excited. "I was excited to hear what Trump had to say about #bitcoin then I [fell] asleep listening to him ramble and pander to the crowd," Doan wrote on social media Saturday. "I have to remind myself, vote for the platform, not the personality." Thomas Young said, "My initial impression was this was a campaign stop at a Bitcoin conference - not so much a Bitcoin speech." Marc van der Chijs said, "I don’t think Trump’s speech will gain him a lot of new voters among Bitcoiners." "The other way around, many will now see him for what he really is," he added. "It was my first time watching him speak live. He sounds like a low IQ conman to me, I wouldn’t believe anything he tells me."

'I fell asleep listening to him': Trump Bitcoin speech attendees say he was 'embarrassing' - Raw Story

$66.6k BTC?

 My condolences to Satan for getting lumped in with these clowns

[scrubnuggey]

Baffling advertisement I got today:

Am I reading this right? "Hey, bitcoin price is dropping! Why don't you buy some and join us in losing money!"

[unpluggedfinancial]

The Critical Importance of Financial Education in the Age of Bitcoin

Imagine a world where you have complete control over your money, free from banks and government interference. This isn't a far-off dream—it's the reality that Bitcoin is creating. But with great power comes great responsibility, and that's where financial education becomes crucial. In this post, we'll explore why understanding Bitcoin is essential in today's rapidly evolving financial landscape.

The Current State of Financial Education

Financial literacy rates paint a sobering picture. According to a 2020 FINRA study, only 34% of Americans could answer 4 out of 5 basic financial literacy questions correctly. This lack of understanding often leads to poor financial decisions, leaving people vulnerable to economic uncertainties. As digital currencies gain prominence, this knowledge gap becomes even more critical.

Why Bitcoin Requires Financial Education

Bitcoin, the world's first decentralized digital currency, operates on a complex blockchain network. While its potential benefits are significant, understanding its unique characteristics is crucial:

Volatility: Bitcoin's price can fluctuate wildly. In 2021 alone, it saw a 64% increase followed by a 50% drop within months.

Security: Transactions are secured through cryptography, with ownership maintained via private keys.

Decentralization: Unlike traditional currencies, Bitcoin isn't controlled by any central authority.

Benefits of Understanding Bitcoin

Hedge Against Inflation: With a fixed supply of 21 million coins, Bitcoin is designed to be inflation-resistant.

Investment Opportunities: While volatile, Bitcoin has shown significant long-term growth potential.

Financial Freedom: Bitcoin enables peer-to-peer transactions without intermediaries, offering unprecedented financial autonomy.

Real-World Applications

Bitcoin isn't just a speculative asset. In countries like El Salvador, it's legal tender. Remittance services like BitPesa use Bitcoin to reduce transaction costs for international money transfers in Africa.

Common Misconceptions

Let's debunk some myths:

"Bitcoin is only used for illegal activities": While cryptocurrencies have been used illicitly, legitimate uses far outweigh illegal ones.

"Bitcoin has no intrinsic value": Its value comes from its utility as a decentralized, borderless payment system and its scarcity.

Environmental Concerns

It's important to address the energy consumption debate surrounding Bitcoin mining. While Bitcoin does consume significant energy, innovations in renewable energy mining are addressing these concerns.

Comparison with Other Cryptocurrencies

While Bitcoin was the first, thousands of cryptocurrencies now exist. Ethereum, for example, offers smart contract functionality, while Litecoin aims for faster transaction speeds.

Challenges in Bitcoin Education

Complexity: The technology can be daunting for newcomers.

Misinformation: The crypto space is rife with unreliable information.

Regulatory Uncertainties: Regulations vary widely across jurisdictions.

Strategies for Improving Bitcoin Literacy

Educational Resources: Leverage reputable online courses and books. Websites like Bitcoin.org offer comprehensive guides.

Community Engagement: Join forums like r/Bitcoin or attend local meetups.

Practical Experience: Start with small transactions to build familiarity.

Expert Insight

"Bitcoin is not just an asset, it's a new financial system with its own rules. Understanding these rules is crucial for anyone looking to participate in the future of finance," says Andreas Antonopoulos, a leading Bitcoin educator.

Practical First Steps

Set up a small Bitcoin wallet (try Exodus or Green Wallet).

Buy a small amount of Bitcoin on a reputable exchange like Coinbase or Kraken.

Try making a small transaction to experience how it works.

The Role of Influencers and Educators

Platforms like Unplugged Financial play a crucial role in demystifying Bitcoin. By providing clear, accurate information, these educators help bridge the knowledge gap and empower individuals.

Conclusion

As Bitcoin continues to reshape the financial landscape, understanding its principles, benefits, and challenges is vital. By investing time in financial education, you can make informed decisions and potentially harness the power of Bitcoin to achieve greater financial freedom. Remember, in the world of Bitcoin, knowledge truly is power.

Take Action Towards Financial Independence

If this article has sparked your interest in the transformative potential of Bitcoin, there's so much more to explore! Dive deeper into the world of financial independence and revolutionize your understanding of money by following my blog and subscribing to my YouTube channel.

🌐 Blog: Unplugged Financial Blog Stay updated with insightful articles, detailed analyses, and practical advice on navigating the evolving financial landscape. Learn about the history of money, the flaws in our current financial systems, and how Bitcoin can offer a path to a more secure and independent financial future.

📺 YouTube Channel: Unplugged Financial Subscribe to our YouTube channel for engaging video content that breaks down complex financial topics into easy-to-understand segments. From in-depth discussions on monetary policies to the latest trends in cryptocurrency, our videos will equip you with the knowledge you need to make informed financial decisions.

👍 Like, subscribe, and hit the notification bell to stay updated with our latest content. Whether you're a seasoned investor, a curious newcomer, or someone concerned about the future of your financial health, our community is here to support you on your journey to financial independence.

[trader-sg112]

Market Update: Key Indices and Stocks Show Mixed Movements Amidst Economic Projections

Index Futures Overview

As the trading day commenced, the major U.S. stock index futures exhibited modest fluctuations. Dow Jones Futures traded largely unchanged, indicating a neutral market sentiment. Meanwhile, S&P 500 Futures edged up by 2 points, representing a 0.1% increase. The Nasdaq 100 Futures also climbed by 20 points, or 0.1%, reflecting slight optimism in the tech sector.

Economic Projections: Job Market Insights

Economists are keeping a close watch on the U.S. labor market data, anticipating the addition of 189,000 jobs in June. This follows a stronger-than-expected increase of 272,000 jobs in May. The employment figures are crucial as they provide insights into the health of the economy and can influence Federal Reserve policy decisions. A robust job market typically signals economic strength, while any shortfall could raise concerns about a potential slowdown.

Stock Movements: Highlights and Lowlights

Tesla (NASDAQ: TSLA): Tesla's stock saw a premarket boost of nearly 2%, continuing its trend of strong performance. This increase may be attributed to positive investor sentiment surrounding the company's ongoing innovations and expansion plans in the electric vehicle market.

Macy’s (NYSE: M): Macy’s stock surged by 4% premarket. This rise could be due to positive retail sector performance or specific company news that has bolstered investor confidence. Macy’s, as a major player in the retail industry, often reflects broader consumer spending trends.

Coinbase Global (NASDAQ: COIN): In contrast, Coinbase Global experienced a significant drop, with its stock falling 6.5% premarket. The decline in Coinbase's stock price may be linked to recent regulatory scrutiny or market volatility impacting the cryptocurrency sector.

Commodity Market Movements

Crude Oil: U.S. crude futures (WTI) rose slightly by 0.1% to $83.98 a barrel, suggesting steady demand despite global economic uncertainties. Conversely, the Brent crude contract saw a marginal decline, trading at $87.40 a barrel. These movements indicate mixed market sentiments influenced by factors such as supply concerns and geopolitical developments.

Cryptocurrency Update

Bitcoin: The world's leading digital currency, Bitcoin, faced a downturn, falling to its lowest level since February. This decline reflects broader market trends affecting cryptocurrencies, including regulatory pressures and changes in investor sentiment.

Conclusion

Today's market snapshot presents a mixed picture with minor gains in major indices and varied performances among prominent stocks. Economic projections, particularly job market data, will play a crucial role in shaping market movements in the near term. Investors are advised to stay informed about ongoing economic indicators and company-specific developments to navigate the dynamic market landscape effectively.

This article provides a comprehensive overview of the current market trends, highlighting key indices, stocks, and economic projections. It offers valuable insights for investors and market watchers looking to understand the factors driving today's financial landscape.

[harinibw]

Bitcoin and the broader cryptocurrency market faced significant declines today, with Bitcoin trading below $59,000 and major altcoins also in the red. Solana, Dogecoin, and Toncoin dropped 8.27%, 7.44%, and 6.53%, respectively. The overall market capitalization fell to $2.26 trillion, down 4.42% in the past 24 hours. Despite the losses, Bitcoin’s dominance increased to 51.06%, reflecting a cautious investor sentiment.

Amid the downturn, several cryptocurrencies showed notable gains. Hivemapper (HONEY) led with a 42.9% increase, followed by Beta Finance (BETA) with an 18.7% rise. Other gainers included DADDY TATE (DADDY), Chainflip (FLIP), and NATIX Network (NATIX).

Recent funding rounds indicated ongoing investor confidence. QED Protocol secured a $6 million Seed round, and onaji raised $2.5 million in a Pre-Seed round. Additionally, Wallet Guard was acquired by ConsenSys, signaling strategic growth in the industry.

[northwest-cryptid]

This is my life now. I am a humble oak log farmer.

I wake up, I grab my coffee; I log into VR and go to a fishing world where I cast my line and open my virtual desktop where I have OSRS floating on one screen and Mabinogi up on another. I run oak logs to my bank for like 5 hours while I wait for my Mabi goods to sell.

The fishing keeps my brain from going numb, but the virtual money sales give me dopamine hits every so often.

I think I have like, stock market autism but I tried the stock market once and lost about $100 so I'm not trying that again; I'm not white enough to go "ah yes the [stock] is [movement] today, I shall invest!"

Like, not properly at least. I just kinda go "Hey this is kinda low I'll drop some money here... oh god it went lower... well it didn't stop going lower. When does it stop going lower? When does it do the bitcoin thing where we all buy gamestop stock and become rich?"

For the record I never invested in crypto.

[bitcoincables]

Bitcoin Price Plummets 77% in Asian Session, Triggering $200 Million in Liquidations

Bitcoin Price Crashes 77% in Asian Session, Sets Off $200 Million in Liquidations 😱

Bitcoin took a sudden nosedive during the Asian session, dropping 7.74% and briefly touching the $40,400 mark. This unexpected drop led to the liquidation of nearly $200 million worth of positions, causing significant market volatility. With the upcoming US Consumer Price Index (CPI) and the Federal Reserve's interest rate decision, high volatility is anticipated to continue.

Higher interest rates often have an adverse impact on the price of gold, as they increase the opportunity cost of holding the precious metal rather than investing in interest-bearing assets or depositing cash in a bank. Additionally, they generally strengthen the US Dollar, which in turn lowers the price of gold since it is denominated in dollars. It will be crucial to monitor the Fed's interest rate decisions and their implications on the price of Bitcoin.

Bitcoin is currently trading around $42,289, hovering around the midpoint of its 77% crash during the bear market. This price level is pivotal and may trigger significant take-profit or sell orders, which could result in market-wide liquidations. Market participants should remain cautious as the struggle between bulls and bears intensifies. It is worth noting that a major correction in Bitcoin price is not expected until it reaches the 62% retracement level at $48,733. However, today's movements could catch many overeager investors off-guard. The $50,000 psychological level may be a plausible area for market-wide profit-taking to occur.

Read the original article #Bitcoin #cryptocurrency #BitcoinPrice #marketvolatility

[mariacallous]

“It’s kind of a last-man-standing situation,” says Fred Thiel, CEO of US-based Marathon Digital Holdings. His crypto-mining company, among the largest in the world, has found itself—like the rest of the industry—in the path of a perfect storm.

Over the past year, the sector has been battered by a slump in the price of bitcoin, combined with a spike in the cost of energy and an increase in mining difficulty—a reflection of the amount of computing power directed at the bitcoin network, which dictates the proportion of coins miners are able to win. 

At the height of the 2021 boom, profit margins in the mining business rose as high as 90 percent, says Thiel. But now, they have “totally collapsed.” If the price of bitcoin does not rally, he says, there will be “a lot more pain,” and firms that are only marginally profitable today will find themselves “very underwater.” 

As they scramble to cut costs, miners are playing a high-stakes game of chicken. In spring 2024, the halving, a mechanism baked into the bitcoin system that periodically cuts the number of coins awarded in half, will slash mining profits. The goal for miners is to ensure they are in a strong enough financial position to survive the fall in profits longer than anyone else; as miners give in and drop from the network, the share of coins won by the rest will increase. 

“Any miners that are struggling now will not be able to survive the halving,” says Jeff Burkey, VP of business development at Foundry, which operates its own mining facilities, a large-scale mining pool, and a marketplace for mining hardware. The dynamic will create a rush among miners to get their houses in order, he explains.

Miners will look to eke out additional profit margin wherever they can, whether by deploying superior hardware and cooling techniques, developing software to closely monitor the performance of machines, relocating to territories with cheaper power, or renegotiating the terms of their loans.

Others, like Geosyn Mining, are aiming at vertical integration—all the way down to the energy powering the facilities. The company, says CEO Caleb Ward, wants to construct its own solar farm to power its machines, thereby eliminating a major cost. “We need to be more thoughtful as an industry about how we protect against risk,” he says. “It’s not all about shooting for the moon.”

Meanwhile, the miners whose financial predicaments prevent them from fine-tuning their operations are playing a dangerous waiting game, gambling on an increase in the price of bitcoin that may never come.

“The beauty of halving cycles is that the industry [is forced] to become more efficient—a lot of weaker players will have to exit the business,” says Jeff Lucas, CFO of mining company Bitfarms, which has worked to restructure its finances in the downturn. “The devil is in the details.”

Already on the back foot, mining companies are beginning to fold. Compute North, which owned multiple large-scale mining facilities, filed for bankruptcy in September, and Core Scientific, a publicly traded miner, did the same in December. Others are having to maneuver. Argo Blockchain, also a public company, was forced to sell off mining equipment and its state-of-the-art mining center, while Stronghold Digital Mining has negotiated a debt repayment holiday. Neither company responded to interview requests.

A combination of “immaturity, poor planning, and greed” has led miners to the brink of collapse, says Phil Harvey, CEO of Sabre56, a crypto-mining consultancy firm that also operates its own facilities. While the market was hot, companies took on large amounts of debt at high interest rates (10-20 percent) to finance expansion, says Harvey, and now the value of the coins they earn is insufficient to cover the costs of repayments.

Historically, a steep rise in the price of bitcoin, triggered by a buying frenzy, has been followed by a sharp fall and then a gradual recovery. Although there is no guarantee this pattern will repeat, the process is widely described as the bitcoin cycle. The fatal mistake, says Jaime Leverton, CEO of mining company Hut 8, was to imagine that that 2021 was different—that the industry was in a “supercycle” that was going to “break prior cycles” and extend the hot streak. A lot of people bought into this idea, she explains, and so were caught off-guard when the market tanked.

In an effort to strengthen its own position, Hut 8 is in the process of merging with US Bitcoin, another mining firm. The goal, says Leverton, is to minimize risks associated with the volatility of bitcoin by diversifying both revenue streams and the regions in which the business operates.

Whereas Hut 8 only has facilities in Canada and mines exclusively for itself, US Bitcoin runs mines across the US and hosts mining hardware for third-party customers alongside other auxiliary services. “It’s important to be dynamic,” says Mike Ho, cofounder of US Bitcoin. “There is an optimal strategy, depending on the price of bitcoin. It’s about knowing how to navigate through the cycle at different stages.”

Recognizing the trajectory of the market, other companies have sought to eliminate outstanding debt as rapidly as possible. In the summer of 2021, Bitfarms had $165 million of debt on its books, at interest rates between 16 and 18 percent. Lucas says it may seem “absurd” to stomach these exorbitant rates, but it “made sense” because the cost of debt was eclipsed by the revenue generated by mining activity—at least until it wasn’t. 

“As revenues came down dramatically with the price of bitcoin, there was still a high debt to pay for,” he says. “And that put a squeeze on a lot of companies.” 

In June 2022, Bitfarms began to sell down the bitcoin in its treasury to eliminate its debt. Earlier this month, the firm also managed to negotiate down a $21 million debt to bankrupt crypto lender BlockFi that was instead paid off in a single $7.75 million cash payment. The company’s approach to slashing debt, coupled with a focus on maximizing the efficiency of its mining rigs, says Lucas, will put Bitfarms in good stead to weather the remainder of the crypto winter.

The scramble among miners to balance the books has attracted the attention of other market participants hoping to increase their market share at a reduced price. Investment firm Galaxy Digital has long been eager to expand its bitcoin-mining operations. Sensing an opportunity, the company swooped in to grab Argo’s flagship Helios mine in December, spending $65 million for a facility reported to have cost at least $1.5 billion to build.

Mergers, acquisitions, and collapses will continue to be a theme, says Alex Mologoko, analyst at blockchain intelligence company Elementus, until “all economically unsustainable mining operations are weeded out.”

[taylorscottbarnett]

As the US faces the risk of default one should remember about 70% of the US public debt is owed to the US.

Social Security, public (state and city) and private pension funds, and the Federal Reserve hold a significant portion of US debt. Over all the US owes 70% of all public debt to itself.

The debt ceiling was established in 1917. It didn't exist before then, and there's nothing giving Congress the power or authority to actually default on its debt. It's a very merky constitutional question: "can the US default?" Given how our system is set up. The Constitution specifically states in the 14th amendment:

"The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned."

Does raising the debt ceiling resolve US spending issues? No.

Raising the debt ceiling today does nothing to resolve America's spending issues. The debt ceiling is to authorize money that has ALREADY been spent and approved by Congress in previous sessions. Raising the debt ceiling does not authorize new money to be spent.

Inflation and the National Debt:

The US national debt is issued in yesterday's dollars from previous Congressional spending bills but paid back in tomorrow's dollars. The majority of this is in fixed-rate securities. That means that inflation actually cuts the real dollar amount of US debt. Inflation makes old debt easier to pay off.

In plain terms this means that the US has been decreasing its real dollar value of US national debt under the Biden Administration faster than at anytime in US History.

When measuring the US debt against the US Ecconomy, our debt is set to drop by the biggest amount in two decades. This is important and really the only thing that actually matters. This is a huge break for the US Government and taxpayers.

Example: in the first 14 months since Biden assumed office, America inflated away 2.7 trillion dollars of it's national debt.

In April of 2021 the Treasury could borrow one-year money at 0% interest. That corresponded to a very attractive real rate of about -4% by the time 2022 rolled around. In effect people paid the US Government 4% interest for the privilege of getting to borrow money from us. The current Tbill rate is even higher at 5.10%.

I can not understate this fact:

The US Taxpayer makes money off the US Government borrowing money.

The US Taxpayer makes a profit off raising the US borrowing limit.

WHY?

In simple terms, just think in terms of supply + demand. If you'll take my terms for a 2% payment why would I offer to pay you 3%, 4%, 5%? Demand for US Debt is high, so the US can offer it at very, very, low interest rates.

WHAT IS US DEBT'S ROLE IN THE GLOBAL FINANCIAL SYSTEM?

Everything. US Debt is the backbone of the world financial system. It underpins everything else. Stocks. Corporate Bonds. Mortgage rates. Life insurance. Everything is built on the bedrock of US debt. US Treasuries are considered risk-free investments, so it's the measurement to which every other financial tool is valued.

So when a corporation issues bonds to raise capital it's forced to compete with Treasuries for investment dollars. If said corporation becomes insolvent there's no guarantee bond holders will get all or even any of their money back. It must offer a rate of return good enough to justify the increased risk compared to US Treasuries. US debt is the foundation everything else is built on.

SIMPLE SUMMARY:

TL;DR: the entire world runs on US debt. Nothing will protect you from the catastrophic consequences of US default. Nothing. Not holding fiat, or stocks, or bonds. Not holding gold, diamonds, silver or Bitcoin. Nothing. All of these things are a financial system built on US Treasury builds.

There is no golden parachute if the US defualts.

Only needless suffering.

[doctorstrangeaskblog]

Doc I dropped my bagel on the way to work this morning- is there anything you can prescribe for this heartbreak? 🫠

Accept you lost it and go get another one. Spending energy with negative thoughts about things you can't solve will only bring you pain. Move on.

((Remember that guy who lost hundreds of bitcoins tho because he couldn't remember the password to his pendrive and he could be very very rich today.))