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Merged Bitcoin - Part 3

Let's look at it this way, if I were to join your objection on this point about the name not being listed and further add that an IP address does not list the user's name either. See where I'm going?
I've no idea where you are going. Knowing an IP address is typically not all that useful for tracking a cyber crime back to it's perpetrator. You track it back to a server hosted by Amazon or Microsoft, then what?

My point to address your objection is that Law Enforcement is not deterred by the missing name from the BTC transactions when they trace them, the name will eventually be revealed and the transactions on the blockchain are used as evidence of criminal activity for prosecution.

You've yet to explain how you think this can happen, explain why criminals have taken to using bitcoin for their transactions or give examples where they have been tacked and caught.
 
https://www.sciencemag.org/news/2016/03/why-criminals-cant-hide-behind-bitcoin

It's an older article but it does a good job of explaining some of the methods present day law enforcement use to identify criminals when BTC is used as a payment method for criminal activity. It also covers the Silk Road creator's apprehension.



Also, about the IP address, it's a direct link to your home address. Try iplocation.net website to see what you find out. Imagine the next step LE would take if they had a case against you.
 
It's confirmed Elon Musk is now vested in Bitcoin.

His tweet:

"I am late to the party but I am a supporter of #Bitcoin." - Elon Musk
 
Being "supporter" does not imply he has any amount of Bitcoin.

BTW he seems to either not know/understand environmental cost of cryptocurrency mining or thinks advantages of Bitcoin (whatever they are) overweight environmental cost.



Let's go there, BTC mining costs compared to Gold mining costs....and the environmental damage of each...I can see a clear winner already. If you own Gold, you're killing the environment in many different ways. Fossil fuels, water pollution, damage to wildlife habitats. If you own BTC you're promoting the use and creation of renewable energy with little to no carbon footprint on the environment.

Long story short, I can mine BTC in my garage (and heat it in the Winter) with one miner running on solar energy. I can't do that with Gold. To mine Gold, I'll need to lease some land to ravage and I'll need some running water to pollute and further destroy wildlife habitats. I'll need to bring in earth moving equipment that runs on diesel, not sunshine. Should I really go on?
 
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Here's the latest electric bill of an energy wasting BTC miner (me). Yes that's a minus in front of the amount due. My electric company owes me $626.74 for power they received from me in January 2021. How much does your electric company pay you each month to NOT mine BTC?
Solar and Bitcoin, a match made in Heaven....

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Here's the latest electric bill of an energy wasting BTC miner (me). Yes that's a minus in front of the amount due. My electric company owes me $626.74 for power they received from me in January 2021. How much does your electric company pay you each month to NOT mine BTC?
Solar and Bitcoin, a match made in Heaven....
How much more electricity would you be able to put into the grid if you weren't mining for bitcoins?

That is how much less fossil fueled electricity we could be generating.
 
How much more electricity would you be able to put into the grid if you weren't mining for bitcoins?

That is how much less fossil fueled electricity we could be generating.

I add more miners as I add more solar panels. It's been an ongoing process over several years and although I've done the math, I don't want to put too fine a point on it here. I found that the most profitable BTC mining operations rely heavily on solar, the little guy (me) can too.

This latest flub was the result of moving a few miners from the old place to heat the garage at the new place. This happens when people (me) neglect to use math.

Full disclosure, the electric company will not actually send me a check for the overage. It will continue to show as a credit until I/we use it, which will be very soon. I enjoy the heat from the visiting miners here but they're going back tomorrow with a couple of comrades hopefully.

I love solar (I know you do too). I want everyone to use it if possible. It's not that expensive as used panels work just as good as new ones and the used 240/250 watt panels are now around $35 each.

I encourage everyone to try at least one panel. Even if they rent and aren't allowed to install panels, just lean a panel against the South side of the dwelling, run the wires thru a window. There's only two wires that connect to a small grid tie inverter, and it just plugs into the wall like any other appliance, presto, you're saving the World. :thumbsup:
 
You seem to not understand what I wrote. It happens, especially if reader has vested interest in not understanding what I said. shrug
You inability to make yourself understood is your fault.

If you are simply saying that Musk puts profits ahead of the environment then - DUH!
 
I add more miners as I add more solar panels. It's been an ongoing process over several years and although I've done the math, I don't want to put too fine a point on it here. I found that the most profitable BTC mining operations rely heavily on solar, the little guy (me) can too.
You are completely missing the point.

With extra solar panels, you could be selling electricity to the grid and reducing the need for fossil fueled generators but instead, you are using it to mine for bitcoins.

I know it makes economic sense. Electricity providers tend not to pay well for electricity supplied by solar households and even then, it is usually for credits rather than cash. However, it doesn't change the fact that the environment falls a poor second in the priority stakes.
 
In my view the reason for solar is to reduce or eliminate my own carbon footprint. If I'm not purchasing power made by coal and instead create my own made with sunshine, I'm doing my part both economically and environmentally to make the World a better place.

I can't be expected to do everyone else's part too. That's up to the individual.

Now don't get me wrong, if my power company had a program to purchase energy from renewables at a fair price I'd be all in to install acres and acres of panels for that purpose. But, they don't, instead they devise questionable ways to profit from your solar. The best I can hope for is a partial credit in which they pay me in KWH credits a lesser amount per KWH than they sell it back. Or they sell that excess power to other customers at an increased rate because it's "Green". Power companies have a funny way of taking the excess power you produce on the cheap and profiting from it themselves. The best policy is to use what you produce and keep them out of the equation completely. Or you can choose to bend over and get ready. I've only had dealings with 2 electric companies regarding solar energy production, both are complete crooks. I found thru a few searches I'm not alone in this opinion/experience.
 
In my view the reason for solar is to reduce or eliminate my own carbon footprint. If I'm not purchasing power made by coal and instead create my own made with sunshine, I'm doing my part both economically and environmentally to make the World a better place.
No matter how much you might try to mitigate it with solar panels, the fact is that you are increasing global electricity consumption by mining for bitcoins.
 
No matter how much you might try to mitigate it with solar panels, the fact is that you are increasing global electricity consumption by mining for bitcoins.

With that type of thinking I'd also be increasing global fuel consumption by driving an EV. There's something not exactly right about that.
 
With that type of thinking I'd also be increasing global fuel consumption by driving an EV. There's something not exactly right about that.
If you weren't previously driving a vehicle then it would be exactly right.

Switching to an EV might appear to be an environmentally sound move but the electricity still needs to be generated from somewhere (unless you turn off your bitcoin miners :p).

The point is that solar panels don't give you open slather to dramatically increase your electricity generation.
 
As we approach $40K again, I'm starting to feel just a wee bit of pre-regret.....I suppose the next 24 hours will likely reveal whether I can move on to full-regret mode or not.
 
When I sold 50% of my BTC in Jan, I was certain that was near the top and soon we'd go down to rebuy level.

Since then I admit I'm not sure now what to make of the charts. It doesn't make any sense to "me" now. I think there are too many random variables that are making this market impossible to read.

Is anybody else having difficulty reading this market? Or is it just me?
 
When I sold 50% of my BTC in Jan, I was certain that was near the top and soon we'd go down to rebuy level.

Since then I admit I'm not sure now what to make of the charts. It doesn't make any sense to "me" now. I think there are too many random variables that are making this market impossible to read.

Is anybody else having difficulty reading this market? Or is it just me?

If everybody could read the price, everybody would make money. How would that work ?
 
If everybody could read the price, everybody would make money. How would that work ?

It just went from $39,100 to $43,773 in the space of 30 minutes. 6:30 to 7:00 AM CST. Now at 7:25 AM CST $44,600 and rising.



Added info: Oh, I see now, Tesla just purchased 1.5 Billion in Bitcoin.

And now I think I see why the charts are off. BTC price hovering at $43,700 It must be a buy in manipulation software. It's not a bot, it's a program designed to defeat bots and humans that allows a large buy in without moving the market. It takes several minutes to complete 1 buy in and uses multiple buy and sell transactions to keep the price steady while the purchase is being made. This has been responsible for the manipulation in the charts. I see what the 15 minute candle looks like now after this process has completed. A short wick on the top and bottom with the price indicator centered. Gotcha now.
 
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