Crypto Mining

JD Jones

Moderator - Covid 19 in DR & North Coast
Jan 7, 2016
6,598
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Clarifying a bit.

Warren Buffet made a loan to Nubank early on (May 2021) at no doubt very favorable terms. Much the same as he did with Goldman and Kraft/Heinz to give a couple of examples.

Inside those loans were option rights to acquire stock at prices much lower than could be had at an initial public offering.

At the time of the loan Nubank was to become, and currently is, Latin Americas largest digital bank. At the time of the loan and the option rights, Nubank did not have any stake in crypto or crypto assets.

It was only until NubBank acquired a company named Easynvest (now named Nuinvest) in the fourth quarter of 2021 that it acquired crypto assets.

So yes, Buffet, who does not like crypto or crypto assets is a reluctant owner.

This hardly qualifies him and/or Berkshire as jumping on the crypto bandwagon.

He does however believe in the future of digital banking as a means to help more people (unbanked) get access to banking and credit...............and of course to continue his successful investing track run.;)


Respectfully,
Playacaribe2
And now we know............ the rest of the story.
 

windeguy

Platinum
Jul 10, 2004
39,069
4,092
113
Some are finite, some are not. But in the end, they can just create another crypto coin and mine more.

And these are the same people that love to talk about "fiat" money.

Yep go "figure".. Literally in this case the "coins" are "figured" by arrays of high speed dedicated processors.
Sure is better than fiat money, eh? Block chain (or block heads)..

Wait, I have a call in to Nigeria I need complete. At least they stopped sending me US Postal Money Orders,
Now it is all done on line with block chain swindles.
 

windeguy

Platinum
Jul 10, 2004
39,069
4,092
113
Block chain is a great way to complete transactions and therefor has many practical applications but if push come to shove, I prefer gold.
The FBI has taken notice how good crypto is:

The FBI is launching a digital currency unit for blockchain analysis and virtual asset seizure. U.S. regulators under President Joe Biden have been ratcheting up their scrutiny of the crypto industry in the wake of a series of high-profile cyber attacks last year. Ransomware groups often demand their fees in bitcoin.

Virtual asset seizure by a government agency like the FBI? I thought that to be impossible. Governments will work hard on this issue. They don't seem to like what has happened and crypto users were intent on a way around government fiat money. How long will that really last?
 

CristoRey

Welcome To Wonderland
Apr 1, 2014
9,577
5,632
113
The FBI has taken notice how good crypto is:

The FBI is launching a digital currency unit for blockchain analysis and virtual asset seizure. U.S. regulators under President Joe Biden have been ratcheting up their scrutiny of the crypto industry in the wake of a series of high-profile cyber attacks last year. Ransomware groups often demand their fees in bitcoin.

Virtual asset seizure by a government agency like the FBI? I thought that to be impossible. Governments will work hard on this issue. They don't seem to like what has happened and crypto users were intent on a way around government fiat money. How long will that really last?
They've been tracking/ nailing people who use Bitcoin for nafarious purposes for a few years now. This comes as no surprise.
 
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DR fan1990

Well-known member
Sep 22, 2020
471
545
93
Canada
The WEF has just removed their page describing their partnership with Coinbase.
What are they trying to hide??

This same WEF has been saying for years now that by 2030, "you will own NOTHING".

Coinbase is quite possibly the biggest crypto exchange platform in the world.
Now try and anticipate what this partnership means ...

The deleted page about the partnership can still be viewed here: https://web.archive.org/web/20220219134527/https://www.weforum.org/organizations/coinbase
 

malko

Campesino !! :)
Jan 12, 2013
5,034
695
113
The WEF has just removed their page describing their partnership with Coinbase.
What are they trying to hide??

This same WEF has been saying for years now that by 2030, "you will own NOTHING".

Coinbase is quite possibly the biggest crypto exchange platform in the world.
Now try and anticipate what this partnership means ...

The deleted page about the partnership can still be viewed here: https://web.archive.org/web/20220219134527/https://www.weforum.org/organizations/coinbase


Well if you keep your crypto on Coinbase, you have it coming.....
 

windeguy

Platinum
Jul 10, 2004
39,069
4,092
113

Largest-Ever Crypto Heist

Hackers have stolen more than $600M worth of cryptocurrency from the Ronin blockchain underlying a popular play-to-earn online game, “Axie Infinity.” The heist is believed to be the biggest cryptocurrency theft in history and raises questions about security.

Sky Mavis, the gaming company operating Ronin and “Axie Infinity,” said the attackers took advantage of a security flaw in what's known as a bridge—a connection between two blockchains that enables transfers of cryptocurrency. The hackers gained control of five validation nodes required to recognize the transfers to and from the Ronin blockchain.

The attackers then created two fraudulent withdrawals March 23, stealing 173,600 ether tokens and 25.5 million USD Coin tokens. Ether is the second most popular cryptocurrency behind Bitcoin (see 101), while USD Coin is a cryptocurrency tied to the US dollar. Sky Mavis discovered the breach Tuesday after a user was unable to withdraw 5,000 ether from the bridge.

See other big cryptocurrency heists here.
 

Johanvillar1

New member
Nov 16, 2021
20
10
3
Santo domingo
I have a question and some thoughts regarding investing in Solar and Wind Turbines in the DR. I have been a Crypto investor for sometime. I am now contemplating taking the next step by actually mining Cryptcurrency. Since a huge cost of mining is the extortionate electricity cost due to the process. Would it be cost effective to take advantage of the natural environment that the DR offers? By acquiring the land and setting up Solar Panels or Wind Turbines, I would be able to reduce the cost margins in the processing.
What are your thoughts on this subject? What would be the pros and cons in venturing out in the DR?
,
Hey buddy im a local from santo domingo and i got some big land on the country side in BANI, dominican republic , good location high in the mountain , ist a lot of land , im looking to rent it or parthert with somebody and thats sound good panels for electricity and mining feel free to reach me out
 

Tarheel

Well-known member
Dec 19, 2005
554
147
63
Clarifying a bit.

Warren Buffet made a loan to Nubank early on (May 2021) at no doubt very favorable terms. Much the same as he did with Goldman and Kraft/Heinz to give a couple of examples.

Inside those loans were option rights to acquire stock at prices much lower than could be had at an initial public offering.

At the time of the loan Nubank was to become, and currently is, Latin Americas largest digital bank. At the time of the loan and the option rights, Nubank did not have any stake in crypto or crypto assets.

It was only until NubBank acquired a company named Easynvest (now named Nuinvest) in the fourth quarter of 2021 that it acquired crypto assets.

So yes, Buffet, who does not like crypto or crypto assets is a reluctant owner.

This hardly qualifies him and/or Berkshire as jumping on the crypto bandwagon.

He does however believe in the future of digital banking as a means to help more people (unbanked) get access to banking and credit...............and of course to continue his successful investing track run.;)


Respectfully,
Playacaribe2
It's like gold. Warren doesn't want to be big in gold, but he does want to be in it as a hedge. 5% of your portfolio is generally recommended by financial advisors. I guess crypto fits into being widely diversified.
 

windeguy

Platinum
Jul 10, 2004
39,069
4,092
113
It's like gold. Warren doesn't want to be big in gold, but he does want to be in it as a hedge. 5% of your portfolio is generally recommended by financial advisors. I guess crypto fits into being widely diversified.
They, as in they in the supposed know, say Crypto mirrors the S&P 500.
 

johne

Silver
Jun 28, 2003
5,485
1,849
113
Crypto currency down more than 50% since Nov. '21. Where did all of the bulls go"? Y'all come back and see us sometime...you hear??
 
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chico bill

Silver
May 6, 2016
9,647
3,591
113
Crypto is about as safe as cocktail at Bill Cosby's house
Jeffery Epstein babysitting your teenage daughter
Riding a moto in the DR
Being a neighboring country to Vladimir Putin

You add your analogy - but if you think Crypto is the future - I have some lots with no title nor deslinde to sell you, but I swear on Uncle Tito's grave (rest his soul) they are legit
 
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windeguy

Platinum
Jul 10, 2004
39,069
4,092
113
Crypto currency down more than 50% since Nov. '21. Where did all of the bulls go"? Y'all come back and see us sometime...you hear??
They are at the BitCoin office in Cabarete queued up to buy low and sell high.
 
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texan

Member
Apr 1, 2014
436
2
18
Crypto currency down more than 50% since Nov. '21. Where did all of the bulls go"? Y'all come back and see us sometime...you hear??
Crypto is extremely volatile. I think a lot of people have a small amount of their portfolio invested and are in it for the long term. Some actively trade it and others just hold.

If you look at ETH you could buy it for $1700 around a year ago then it shot up to $4800 came back down to $1700 recently and currently at $1988. No doubt it might drop well below $1700 but some people are looking at 5,10,15,20 years from now. If anyone choses to invest in Crypto they have to be prepared for the extreme volatility.

It is also unusual because there are such strong opinions for and against crypto. I am not sure what will happen in the future but there are a lot of interesting concepts such as smart contracts and Defi.