Bitcoin and Crypto Talk (Merged)(includes NFT) (1 Viewer)

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SaintInBucLand said:
There are many other ways to invest one's money that isn't as harmful to the environment as crypto. You could invest in renewable energies, alternative foods to beef, as well as many others.

www.independent.co.uk

How bad is Bitcoin for the environment?

Cryptocurrency now uses nearly as much electricity as Argentina but analysts claim technology will soon be mostly powered by renewable energy
www.independent.co.uk www.independent.co.uk

This is a direct answer from Google on Bitcoin alone: Bitcoin's annual energy consumption is comparable to some entire countries, such as Argentina and Ukraine. Bitcoin produces 36.95 megatons of carbon dioxide (CO2) annually (comparable to New Zealand) and it is estimated that in 30 years Bitcoin could alone increase global temperatures 2 degrees Celsius.

www.msnbc.com

The crypto fad might not burn out — but our planet could

The NFT market, and the crypto boom in general, do more harm than good when it comes to the climate.
www.msnbc.com www.msnbc.com
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I think that this all portends badly for the expected rise of BTC.. What can be done by them to mitigate their environmental damage, and more importantly , what are some investing alternatives that might be more eco-friendly?
 
LINK is up ~1300% since I bought. My hindsight says I should have bought more.
 
Denzien said:
I assume this will cause demand to skyrocket?
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I feel it's a significant step to legitimization. I wouldn't be surprised at all if that causes a bump when your skeptics and non technical folks find out they can move some spare cash into it at the very bank they've trusted with money. It's the step that opens up easy access to 24 hr international banking from people's savings accounts. And if they can't go out and spend that money at concerts or bars, they might just decide to throw it at a crypto to use later.
 
I see Nasdaq is down about 4.5% in the last 5 days. Do you think this is tied to the crypto bull run?
 
Turfie said:
I see Nasdaq is down about 4.5% in the last 5 days. Do you think this is tied to the crypto bull run?
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Would really depend on which tech stocks. Crypto overall is very good for tech I think. More likely that is related to the chip shortages.
 
Turfie said:
I see Nasdaq is down about 4.5% in the last 5 days. Do you think this is tied to the crypto bull run?
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I don’t think so - I think it’s more about rate outlook and multiple compression
(the sectors with the bigger multiples, e.g. tech, are first to compress as rates rise).

Another element is that more than 80% of the stock market is institutional whereas crypto appears to be quite low. It’s hard to tell exactly because of the controversial nature of crypto as an asset (institutional players might not be fully admitting their stakes except to those who need to know). But if you presume institutional players in the US stock market comprise a small number, well below 10% of the crypto market, it doesn’t make sense that Nasdaq trends would be reflective of counter trends in crypto - it’s not the same money.
 
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Tapxe said:
LINK is up ~1300% since I bought. My hindsight says I should have bought more.
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Been thinking about getting in on LINK. If crypto is to stick around, it seems like a framework like they provide would be useful. Just how much is a piece of it worth, though? Unless I’m thinking about it wrong.
 
Beast said:
Been thinking about getting in on LINK. If crypto is to stick around, it seems like a framework like they provide would be useful. Just how much is a piece of it worth, though? Unless I’m thinking about it wrong.
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I took a flyer on it the day I saw it pop up on coinbase. I'd watched several others shoot up immediately after listing and thought I'd spend more on a weekend away so why not take a shot. It's not likely to net me a yacht with a spot to park a Lambo so I don't even have to walk along the dock, but I've got more enjoyment from it than that miserable weekend in Rome with the ex.

TL;DR:

I didn't research and got lucky. I was prepared to lose it all instead I replaced a bad memory.
 

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