Since my journey into mining some crypto in 2018; it became pretty obvious that the income that could be generated would be far behind the ability to buy and sell via online marketplaces like #Coinbase on a daily basis
I am fortunate in a way to be an early trend setter (like many) as we start this journey into the crypto world.
Specifically the money grab that was #AltCoins in 2018 and the Boom that arose.
Fair play to them I say.... Retire into the sunset.
The General market of #Altcoins
It is pretty poor.
For example; one could point to a handful of proper use coins outside the top three of #Bitcoin #Ethereum #XRP.
If one was to take the view of a candy shop. Where sugar is plentiful and will lead to a rush; but as one grows older it would be fair to expect to be no longer eating #Freddos each day. Maybe a #mars a day etc. As the advert went.
Again showing credence to the belief that excess coins without need & usefulness will obliterate valuations.
Mining experience & Understandings
So from my mining experience I took away the following principles and understandings.
Firstly; what’s the point in a hot room for months on end; the weight loss was good. But it didn't help my wallet.
However it also dawned on me; will 1.2 million bitcoin really be mined?
In my opinion. People have #FOMO in on price continuation based on #Hashpower.
But all is not as it seems.
GPU mining & Antminers et al
Because the difficulty of mining #bitcoin post #Halvening in 2028 would mean that all machinery brought to market in 2024 would not be powerful enough to mine it. So what about the tech of 2022?
- A 6gb will become useless in 2020.
- 8GB will become useless in 2022.
- RTX cards are not needed - gamers don’t need them
- will #Nvidia release new tech that doubles hashrates in 2020.
The current production of a #GPU would require #Nvidia to produce a 12GB - 24GB per GPU for £300 to be profitable for miners to swap.
But that also means 2020 is bumper year for budget pc owners... lots of 1060 6GB cards coming to second hand markets.
But four years of use! Beware eBay buyers. (My 1060 just blew up. BTW) @ £160 meh.
But now I need £400 urgh for a new 2070 super
Given current pricing & the #Antminer production alone would become so loud; hot and large.
Can we really see this continuing in a genuine and in a honest profitable manner?
If you bought one of the S9 Et al for £5,000; this device has to be tested and thus over a year old Technology.
And the current hash rate increase is because new 2021 antminers or what ever their names will be are already on the production line and testing phase. Not to mention there are more producers than #Bitmain
The hash rate has had a dramatic uptick of late. You think the correlation is created by me, here?
This means the date of 2024 halving may come forward by one year. (Other factors are required - but you get my gist)
Many You-tubers are pointing to this but have not gone so far to presume the future. I am here guessing on the basis of evidence from my mining experience.
2020; the next boom coin will be #ravencoin.
Because the old #antminer compatible vs power rate vs hash rate will be used for altcoins only and you will soon see the videos coming out on mass.
They (Youtubers) all follow each other and recite the ones in actual knowledge #VoskCoin, Miner & #YouTuber shows this, his long term continuation with mining demonstrates my thoughts in action.
But for me I can’t see it. (long term bitcoin creation) But I’ve been wrong before.
Fortunately I have 8 years to be proved wrong. And I hope you do.
I become a millionaire if you do. Mass adoption vs my $ cost average.
I have a full time job. It is my job to analyse properties against a variety of factors. Why would I not do the same here.
However this won’t prevent the price of #Bitcoin from continuing upwards long into 2022 & beyond.
(I’ll come back to that date)
Below are some of the charts that i have been watching for some time. They show a distinct pattern in the downward trend. You must view this as a historical chart over a two year period; despite the fact that previous charts over last decade or so, correlate to the view of an upward trend.
There is little evidence to disprove this theory. that said as the chart shows below since 2015. The price is up.
The Current Market Place and Players
One must also consider the old adage that once wall street gets involved in something there is massive bull run and subsequent crash.
Now it is would be hard to say a crash equates to £100 bitcoin price; but it does indicate that the mighty high of $20K is likely to be a while before retouched; especially given the halvening that is due to arrive shortly. More on that later.
The $3k bounce that was seen can be put down to many factors as i was in Bali seeing the Peak at breakfast and saying; looks like a downward trend for next year. it was dec 19th 2017.
A car crashed into my shop in Britain 36 hours later. what are the odds, was it a sign.
Then Future arrives in full earnest. What does the macro fund trend setters do? - We know with hindsight.
Then we have #Bakkt arrive. Second into the market. Will they be the big bad wolf again but for round two?
Highly likely given their statement of cash settled futures.
Even more so; if one looked at the charts; a huge multi year macro descending wedge has been created. Correlating with each major move in the market place. as seen by the dotted Orange Line.
Using the methodology and i'm sure some recoil in their chairs... Drawn lines without basis of reason. Just wicks and closes. etc. etc.
There is a long way to go. This is because of the Halvening. and the expected 2021 Movements. Not 2020....
The Green uplift box (in chart below) shows clear manipulation within a small section of the market.
Who is this? Is this deliberate? I would say so.
If you can 125X a price. Wouldn't you spend £100 Million Buying to Insta Sell.
Only to have your Point of entry much higher knowing the next move must go downwards...
The huge income on shorting outweighs the losses of bitcoin buying for institutions as price cant keep rising without support and no new money is the same washing going around & around.
It is breaking the bot trading #Algo, i have watched it happen. It is quite funny to see it live.
I recommend opening the one minute chart between 11pm and 12am. you will see the next days direction (not every day. but it is there to see)
Bring in the big guns - the institutions
And why I put it to you that #WallStreet is the one doing this with #CanaryWharf as the starting gun at 6am when traders arrive early pre market open.
Having watched these charts minute by minute. I now see the opening and closing points as signs of a working and consistent manipulation.
This in itself feeds into a narrative of Traders working in unison without even knowing that they are.
But they are & hourly clock offs with repeated moves are significantly correlative.
So What happens Mid December? Xmas Bonuses!
So the price is only being used a tool for bonus manipulation. Downwards. They all have a track record of doing things like this to the markets. Ask #Tesla
Add in a world with 24 hour news on inverted yield curves, market issues, mortgage issues, Trade issues. Would you really pass up easy money like this without fear of loosing your own money? But can earn crazy bonuses at work
Of course not.
The speculative nature and Billionaire Fund traders are like candy and babies. - And thats to say that this is wrong or unethical. it is there for that purpose and a few placards isn’t going to stop them.
But alas I don’t see the $ following them into a digital divorce just yet. Do you?
As can be seen in this 15 Minute Chart all i have written comes clear.
A recent look at the Four Hour Charts show where the destination is headed.
Did someone say altseason?
Oddly the above does one thing
it is creating a new market; the #AltSeasonPartDeux. where the chaff is whittled away into oblivion and the real #shimshady gets to stand up.
Why is china embracing crypto now? have they been here all along but are they really?... only time will tell.
That bell will toll and it will be loud. FUD or FOMO. You must adopt to decide.
The rise of NEO / VET and other such crypto is always going be a buffet of selection of items. Where some will be utilised more than others; that said it still comes back to the original point of 2022. Mining Hashrate, the expected long term ability to produce such crypto will come under some heavy pressure.
What happens when you reach the cliff of production and ability to produce is ever decreasing. what happens to those un-mineable. I would tend to lean to seeing the Tulips of Amsterdam moment. but does come during or before the realisation they are un-mineable.
that doesn't mean mass adoption by virtue or requirement. neither does it mean that everyone still wants them and are they needed 10 years into the future past 2030. The digitised view of the world only works to a point.
And it's far too far into the future to consider this as feasible. People find a way; they adapt but more over government
Basic Attention Token is about to get Mass Adoption - but no one knows.
What do you think happened before? What does the market do?
Well that was Violent. 7 - 10 % swings.
No money to made here. But who are the backers of BAT. it is likely that some knew months ahead. likely #WallStreet
2009 - ITN NEWS
When i was watching the news one night and i would swear that it was ITN; (please find the clip you amazing people of the internet.) I distinctly remember watching an article where it was told to me that a new online Digital currency had just been released and it was buyable for 20p.
Alas not being the forward thinking man I am of today; i did not take up the opportunity as the research scared me with dread about loosing all my data and life because i allowed this hacker to access my computer; aka Windows Prompts with RED X. when i look back, i had no data to be stolen. so that was a boat i missed.
Throughout my life i have seen many boats leaving the shore. I cast my mind back to a 16 year old; offered a job by tarantula studios in Lincoln, UK.
I'll let you google who they became and the game they created. Which looks set to the opener of PS5 next year & in VR (but that is not being spoken about yet) - another freebie from me... i turned that job down as i should embark on college for IT AGNVQ. #oops
So it is fair to say i have been in the forrest and not seen the trees which surround me; so is the future not the same.
Is there a reason why my trend of future jackpots would turn sour. Is Bitcoin about to die because Wall Street got involved?
Are they capable of "Taming the Beast" as i read online. More FUD i say. The future is Bright; but it comes with a #Bat (Basic Attention Token) - Why?
Online Culture and Monetisation
In Britain it is not usual to tip your delivery driver; some may say it is. However I found the culture more prevalent in countries like the USA. So is the online world going to adapt? Will it become easier to micro transact. If so.
The basis for the Basic Attention Token #Bat Seems strong and has some legs.
Given the recent #Iphone release of their browser and the Recent claim of 8 Million downloads ... (I have can touch 6 devices daily) indicates that a two year adoption curve is in the offing for this blockchain "Token".
Will it surpass and move into the realm of taking money away from Google? Time will again tell but you have to decide to alter your purview.
CryptoTube
As i call it these days; is rife with tip me tip me videos on Chart and Technical analysis.
One in particular is Lord Ray which i must say seems to have nailed the marked with nightly income. His evidence is clear and concise and no doubt in 2020 / 2021 will continue to grow into the 30K - 40K subscribers and thus prove the use of BAT as i do feel; that....
30% of your super chat goes to youtube (Google) & 20% Taxation (Government) as Lord Ray has stated and i refer to his knowledge in such matters.
Leaves you with approx 50% of the your intended tip. People on mass are just are not going to buy that service in the future & when the masses realise this; the share price of google could be seen as inflated due to some of their income is generated and consumed by them in a nice neat circle.
Britain post brexit will tame the beast of Silicon Valley. #FreshSheetOfPaper
Which is why you have now a mass of online crypto analysts who are using their own knowledge and connections to create online premium groups.
My favourite of late. (I am not a member nor do have any involvement with)
Cracking Crypto the team behind such productions show the masses are interested and are worth the a Pub mentality of thats where i go to find people of similar interests.
This is why Pubs and high streets are Dying; no matter the desire of people such as Mike Ashley to bring the vibrance of the High street back to Britain.
if any of what is written here is true or comes to fruition. Mike ain't gonna win; is he?
Mass Adoption Case - Digital Metals
One has to think clearly and constructively in this case. For example i propose to you; that all entities require base and materials. thus the online world would not be significantly different.
In such cases of Recession. Would one could say that google will not fall like others as they represent store of value. (mass world panic & growth fears) still need a mobile with search. - Plastic (see later)
That said. Bitcoin is not immune to global shocks and issues; if world peace broke out i would argue that Bitcoin would see a sharp decline in usage and reasoning.
The opposite is true when looking at reasons to use bitcoin.
- If we all withdrew all our money by being our own bank and putting our life’s savings into a stable coin balance vs a visa backed debit card balance would be very scary for them and would almost immediately become the eve of mass adoptions of the technology. But visa would have adapted prior & the Queen has better advisors than you and me.
Until then status quo exists.
- I want you to roll play with your spouse - darling I’m moving all our income & savings into blockchain...
YOU wouldn't even get to the punchline before a suitcase was presented to you.
Especially in Britain.
Global issues - Creates Desire
Over the last few years the Mass-Media and the Instant Alert culture that has been created with the mass adoption of the Iphone does mean that more issues are highlighted but it doesn’t mean requirement of solution.
Argentina - Why has Bitcoin not been adopted on mass by those in direct effect; the devaluing of currency etc.
Venezuela - words cant really describe that but again.... adoption
Africa as a continent. - Why has Bitcoin not been adopted on mass, they use M-Pesa why would they not use Crypto now.
China - There is clear & rationalised argument that they will be the catalyst. IF blockchain tech is adopted; Bitcoin is likely NOT to the one used. but i do believe that Governments worldwide will have a stock of #DigitalGold. Just like they have a stock of Real World Asset #Gold. Cheers #GordonBrown
The remaining ones: aka the west - looking to regulation and hurdles to prevent the increased use. Facebook would automatically become the world largest bank. Governments would topple. There is no doubt on that. Had it not been tamed into a stable coin model rather than bitcoin styled. Or was it just FUD. Welcome to YouTube
But are we not the #Mayans of yesterday walking around with gold dripping from our bodies; even though some could say just with small pieces on our fingers and phones. But all phones and devices have other metals.
The Online Crypto world will be the same.
Where there is gold, there is need of Silver, platinum and others.
Which one is Bitcoins Silver, etc. etc. Even Plastic is needed (like google & I know its not a metal)
Summary
I would have at a guess that what the west uses; won’t necessarily be the same in the East.
But one will reign supreme; #Heinz was never beaten by #BigDaddy's but they made plenty of money following the leader.
When #Bitcoin is at 20 years old it will be cemented as the standard if it is at £1 Million per coin. If not; will $10k be sustainable. I doubt it very much
But that also requires a crystal ball and I have written before about such predictions.
But i am a #SuperForecaster & I am planning Vegas for 2024 when #Bitcoin hits $100,000. Even I like to dream & it Costs nothing to plan. Every artist has a waste paper bin.
I aim to put more updates to this blog as I go, so i would welcome any #Bat or #Btc you wish to donate to me.
It will be utilised to promote other such content Creators and tip them for their creations... as mass adoption doesn't start at home by #Hodl
I have no knowledge of trading daily on the stock market, i have only the knowledge given to me by self taught info and therefore all statement and assumptions shouldn't be seen as gospel or even credible.
You likely know more than me Trader, i know your reading this.
So do your own research. And then before your buy. Do more research. Your analysis is wrong.
If you disagree with my analysis, I enjoy whole hearted debate; but keep it on point and clean please.
If you are interested in following for more info and I often Send notifications of impending dumps and pumps. Follow me below
If you are gracious to send some some Ethereum / Bat / Bitcoin, I have a belief of using this to introduce my friends to the reasons of bitcoin. I use the link to refer them to #Coinbase- click link here
Thank you for reading
Especially if you got this far 😂
