Bitcoin about to Pop

[rainbow]

I have to admit that I was completely wrong about Bitcoin.

how so?

I thought it was going to crash.

Meanwhile, since sanctions on Russia, Venezuela and Iran restrict energy imports --> They are mining bitcoin

....which largely defeats the purpose of the sanctions.

[Svartalf]

well, I don't know how much bitcoin is left out for mining, but I guess not that much, and nowadays, mining the stuff takes increasingly huge amounts of time and resources. I wonder when the peak will be reached and it actually costs more to mine than the result is worth.
not to mention of course that bitcoin not being regulated, stuff might happen to reduce its worth to nothing from one day to the next.

[rainbow]

well, I don't know how much bitcoin is left out for mining, but I guess not that much, and nowadays, mining the stuff takes increasingly huge amounts of time and resources. I wonder when the peak will be reached and it actually costs more to mine than the result is worth.
not to mention of course that bitcoin not being regulated, stuff might happen to reduce its worth to nothing from one day to the next.

Well if you can't export your oil, its a way to get the revenue.

[Svartalf]

given what it takes in installations and energy to mine, I'd say your oil revenue is not fully compensated, far from it.

[rainbow]

https://www.chainalysis.com/blog/irania ... ions-2026/

[Brian Peacock]

given what it takes in installations and energy to mine, I'd say your oil revenue is not fully compensated, far from it.

The big hit to bitcoin mining is the AI-driven gpu, ram and chip shortage.