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How many publicly traded Crypto companies are going to go under?
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06-24-2022, 08:29 PM
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#1
- MuscleXtreme
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- MuscleXtreme
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How many publicly traded Crypto companies are going to go under?
Some of these miners dumped $100k+ into server farms to mine crypto. The rising cost of electricity and rent increases surely won’t keep those business profitable. The only thing keeping those businesses afloat are investor’s dollars and personal investment.
With the market going into a downturn, I highly doubt individual and institutional investors are going to see it worthwhile to invest in these types of operations.
So if they don’t have investor capital, and mining isn’t profitable, then what?
If miners can’t mine, what does that mean for crypto as a whole?
With the market going into a downturn, I highly doubt individual and institutional investors are going to see it worthwhile to invest in these types of operations.
So if they don’t have investor capital, and mining isn’t profitable, then what?
If miners can’t mine, what does that mean for crypto as a whole?
06-25-2022, 12:32 PM
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#2
- GeezersPalace
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- GeezersPalace
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All these companies are going under. Make no mistake. I interviewed for 3 of them, anchorage digital, moonpay, and Gemini’s, it was like amateur hour compared to a. Investment bank
06-25-2022, 12:37 PM
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#3
- RobParks2M
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- RobParks2M
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I never understood why miners were profitable in the first place. They are just being paid to push through transactions... why is that valuable. Credit card companies manage to do it with far less energy needs and computing power.
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06-25-2022, 12:39 PM
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#4
- amerikansjc
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- amerikansjc
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If mining output drops, difficulty drops. I'm guessing the miners that will be left will be the ones with near free electricity and low overhead. This will also make miners become cheaper. It will always make sense hypothetically speaking to mine. I was mining a lot when btc was at $240 and after paying expenses and mining at .09 cents a kwh I was still taking home good money.
06-25-2022, 02:16 PM
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#5
- MuscleXtreme
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- MuscleXtreme
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Originally Posted By GeezersPalace⏩
Looks like Celsius might be going bankrupt as well.All these companies are going under. Make no mistake. I interviewed for 3 of them, anchorage digital, moonpay, and Gemini’s, it was like amateur hour compared to a. Investment bank
It seems more and more mining companies are selling off their bitcoin reserves to stay afloat.
06-25-2022, 02:22 PM
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#6
- MuscleXtreme
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- MuscleXtreme
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Originally Posted By amerikansjc⏩
Yeah that’s true. At least the barrier to entry isn’tthatcost prohibitive to get started.If mining output drops, difficulty drops. I'm guessing the miners that will be left will be the ones with near free electricity and low overhead. This will also make miners become cheaper. It will always make sense hypothetically speaking to mine. I was mining a lot when btc was at $240 and after paying expenses and mining at .09 cents a kwh I was still taking home good money.
Why didn’t you stick with it? Too cost prohibitive to keep buying new mining rigs to keep up with the added difficulty?
06-25-2022, 02:22 PM
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#7
- Destor
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- Destor
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Originally Posted By GeezersPalace⏩
coinBasedAll these companies are going under. Make no mistake. I interviewed for 3 of them, anchorage digital, moonpay, and Gemini’s, it was like amateur hour compared to a. Investment bank
06-25-2022, 02:27 PM
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#8
06-25-2022, 02:35 PM
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#9
- crupiea
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- crupiea
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Most of them. The only real reason they even exist is for money laundering.
Once the feds wise up they will get rid of them. Its just the wild west right now. Some will stay around but they will just be watered down regular investment type things.
Once the feds wise up they will get rid of them. Its just the wild west right now. Some will stay around but they will just be watered down regular investment type things.
"To be a warrior is not a simple matter of wishing to be one. It is rather an endless struggle that will go on to the very last moment of our lives. Nobody is born a warrior, in exactly the same way that nobody is born an average man. We make ourselves into one or the other."-- Carlos Castaneda
06-25-2022, 02:41 PM
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#10
- tunafishha
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- tunafishha
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Wished I had sold my crypto alot sooner than taking a 9k lost. FUUUUUUUARk.
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