/biz/ - Business & Finance

What are you guys buying?

>>55267786
>Not exactly, they might need to pay bills NOW
Correct, that the least efficient ones will go out of business in favour of the more efficient ones.
>Most of the coins are already mined, supply shock will be significantly less impactful this time around
As a percentage of the total diluted supply, yes. As a percentage of the total amount available for sale, no. In absolute dollar amount terms, definitely no. In terms of the increase in demand due to the narrative, hell no.
>I suspect a lot of miners might dump btc now hard to get some fist capital to keep mining operations going.
Yes, and other miners will scoop up more of the block reward. It's ideal but incorrect to think about miners as one homogeneous blob with the same operational, and capital costs. This differs for every miner and changes all the time throughout the year. One minute the best place to mine is China, the next minute it's illegal. One minute you can buy energy for cheap, the next minute there's a war. One minute there's an institutional bull market pumping your stock price, the next you're filing for bankruptcy. Only the miners with the most sustainable long-term strategy will survive. You wouldn't want it any other way.
>Is this the first time cost per btc to mine will only be breakeven based off current price?
This happens all the time when a kid looks at the current bitcoin price and they electricity bill and assumes they can start mining profitably so they other some mining equipment from China. By the time the equipment arrives, the difficulty has 2x'd, the price has halved and their energy bills have 3x'd. Arguably the halvening is the easiest thing the miners have to think about because it is 100% predictable. It is literally written in the code.

Do you own at least one, /biz/?

>>53376904
Imagine storing your wealth in non-fungible, illiquid, unlimited supply, hard to verify, depreciating, physical collectibles created at the whim of a mega-cooperation when Bitcoin exists.

You can take a horse to water, but you can't make it drink.

1st edition
In this thread we discuss and help others use bitcoin privacy practices.

Outline:
1. Use Tor
2. Buy on a nonKYC exchange like Bisq or Robosats
3. Don't reuse addresses, generate a new address for every receipt
4. Use whirlpool in Sparrow or Samourai wallet to mix your coins
5. Avoid re-combining outputs from whirlpool
6. After mixing, send most of your wealth to an airgapped cold wallet like Passport or Coldcard
7. Send a small practice transaction or use the bitcoin testnet to verify that you can spend from your cold wallet before sending it your life savings
8. Use Payjoins when possible to obfuscate the flow of the bitcoin you spend

FAQ:
>Why do I need bitcoin privacy?
Breaking the link between your identity and specific bitcoin addresses can give you plausible deniability if bitcoin is banned in your jurisdiction. It can also prevent the government from seizing your bitcoin if you step out of line.
>Why not just use monero?
There are tradeoffs between bitcoin an monero, and plenty of people hold both, and would like privacy from bitcoin as well. Many vendors accept bitcoin, but not monero. This thread is for people who want to learn about bitcoin privacy, not debate about monero.
>Won't P2P peers have my payment information?
To some extent, yes. This is still better than a centralized exchange that shares info with the government, or could be a large hacking target, having your full KYC.
>Why do I need to mix if I buy nonKYC?
There's no guarantee the seller followed any privacy practices, so it's better to be safe than sorry. Mixing increases the overall fungibility of bitcoin, and the more people who mix, the less scrutiny mixed coins will receive.
>What are the tradeoffs?
This will cost you more in TX fees, and be less convenient than the nice user experiences that centralized exchanges have. It will be more difficult to sell for cash, but not impossible. This is for people who want to spend their bitcoin directly.

>>52918427
>What went wrong?
ITHERE IS NO SECOND BEST

>>52806445
The Ethereum merge was bullish for XMR, but that's about it. Still, I'd prefer XMR becoming the bear market coin rather than all these other shitcoins.