There is a back and forth between Peter Thiel and Novogratz.
Here is a look at Bitocoin mining.
https://ambcrypto.com/is-bitcoin-mining-in-the-us-seeing-a-revolution/
Posted Using LeoFinance Beta
You are viewing a single comment's thread from:
There is a back and forth between Peter Thiel and Novogratz.
Here is a look at Bitocoin mining.
https://ambcrypto.com/is-bitcoin-mining-in-the-us-seeing-a-revolution/
Posted Using LeoFinance Beta
Novogratz thinks U.S. needs a digital dollar to combat the Chinese.
https://cryptopotato.com/bitcoin-bull-mike-novogratz-predicts-existential-crisis-unless-the-us-creates-a-digital-dollar/
Posted Using LeoFinance Beta
I guess I don't know enough about the dynamics of how those dollars would be used to give an opinion on this. One thought I DID have in reading the article is that is seems to me there is a very strong case that bitcoin needs to go into the hundreds of thousands of dollars to ultimately protect it from any one entity trying to dominate it. I mean, it would take a trillion dollars to buy 10% of bitcoin at $500,000. Right now one trillion could buy it all. Obviously the price would rise drastically if that kind of money came in but...it seems to me it would be much less vulnerable 10x from here.
Posted Using LeoFinance Beta
Without a doubt. Resiliency comes from a higher market cap. It also comes from more people having BTC in their portfolios. Even if it is just a small piece, that spreads the holding out.
The long tail is vital. Those who have between a half and 1 BTC can really provide stability since, if truly hodling, they can reduce the amount that is liquid.
Those hodlers have to be individuals. That is what makes it stronger.
Posted Using LeoFinance Beta
Well being behind China definitely isn't a good thing for the US. I think his worries are geared more towards people finding out about the liquidity crisis and a digital dollar would help alleviate this.
Posted Using LeoFinance Beta
Yeah the race is on. China has some demographic problems that people are overlooking. I dont buy they can be a true leader over the next couple decades as their populations starts to reverse course.
Posted Using LeoFinance Beta
I only see more issues happening but it might be a while before they decline. Especially when most of the world leaders do everything they can to appease them. Though the recent outcries does surprise me but I want to see actions behind their words.
Posted Using LeoFinance Beta
The challenge for China is as much as they hate it, they are dependent upon other countries. They are still a major exporter which ties them to other countries especially the US.
That is why the destruction of the US economy was so asinine. If we kill that, then China really doesnt need us.
Posted Using LeoFinance Beta
Yes and the US isn't doing so well because we are a major importer. When we import, we are importing the deflation from other nations.
Posted Using LeoFinance Beta
We are.
Can you imagine what the crap at Walmart would cost if it was produced here?
Or a computer? or copy machine?
Posted Using LeoFinance Beta
Well it was a short read but I kind agree. There is no point in rejecting BTC if China has accumulated a ton of it. However I don't know if they will be Pro-BTC or not since they want to promote the digital Yuan and banned miners.
Posted Using LeoFinance Beta
I think BTC is moving away from China.
It just seems they are fighting it a lot. I think the mining is moving out of there.
Posted Using LeoFinance Beta
I think China will maintain mining dominance (even if secretly) because bitcoin has global strategic value now.
Posted Using LeoFinance Beta
The problem is that energy costs are going up, making it a lot less profitable for the miners.
They are relocating to areas such as Norway where renewable energy makes their operations a lot less expensive.
Posted Using LeoFinance Beta
Come and mine it in Venezuela buddy, you don't pay for electricity here hahaha (sad and true).
Posted Using LeoFinance Beta
I read that they were having trouble with their electrical transformers being sabotaged?
Posted Using LeoFinance Beta
That is what the government says, the electricity problem in the country is the government's own fault. The electric service belongs to the government and they have done nothing to make it work properly.
Posted Using LeoFinance Beta
That is no surprise. Most problems can be tied to government or politicians.
Of course, they all deny it.
Posted Using LeoFinance Beta
Exactly, they always deny it.
Posted Using LeoFinance Beta