I skimmed this recently. I keep thinking about it days later
I Can Be the Bank’: Individual Investors Buy Busted Mortgages
https://www.wsj.com/articles/a-decad...ife-1542734455
If I had a shingle and an underdeveloped heart like you - I’d be all over this.
Fun to think about.
Must subscribe or log in the read full articleOriginally Posted by Sanlmar
No you don't.Must subscribe or log in the read full article
http://facebook.com/l.php?u=https://...ife-1542734455
I posted two ways to get around paywalls.
Not sure you can. But here’s the complete chart:
So do what to make money off it now ?
_____________________________________________
https://www.cnn.com/2018/11/29/tech/...sec/index.html
Congratulations! Ya played yourself!
"Birds born in a cage think flying is an illness." - Alejandro Jodorowsky
"America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs
What a slap on the wrist...if you can even call it that.
Maybe a slight tickle.
National Suicide Hotline, Please HODL.
Papa Bush wrote 211 pages of instructions for his funeral, so I’m not overdoing it here by planning ahead.
At what price does it become irrefutably correct for miners to power off?
You see a lot of numbers. I found $4500 today. Like all things bitcoin related there is some element of nonsense in that number, I’m sure.
Let’s say $2500. No miners, no ledger then it’s a bums rush to $1. It’s not gonna be a smooth landing.
I see they have been lowering the hash rate or whatever the miners puzzle difficulty is called.
I think we should all chip in for a Sonatine gift when that happens. Early Xmas present
Only if it completely crashes. Difficulty lags behind the price, but not so much that it would wipe out all the miners.
Something like this...
https://medium.com/coinshares/an-hon...s-f820d6218bdf
i mentioned this earlier, a lot of the major mining operations have suspended service some time ago.
only the ones with 'agreements' regarding power consumption are still humming.
"Birds born in a cage think flying is an illness." - Alejandro Jodorowsky
"America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs
Typical hostile takeover tactics.....lol at you nerds not seeing that...obviously it will plummet, it had to, but "donkdown", it's as donkdown as my penis, occasionally it rises and performs well...
"Druff would suck his own dick if it were long enough"- Brandon "drexel" Gerson
"ann coulter literally has more common sense than pfa."-Sonatine
"Real grinders supports poker fraud"- Ray Davis
"DRILLED HER GOOD"- HONGKONGER
It’s guys like you that killed nipples on Tumblr
If you're privy to those 211 pages please post the first ten. This is why you don't want to live to 94
You’re Canadian - You lack the necessary clearance.If you're privy to those 211 pages please post the first ten. This is why you don't want to live to 94
Now what should concern you is your 100% liquor tax and Trudeau’s plan to a increase it annually.
You would think you’d be rioting like those kids in Paris last weekend.
Riots should begin at home.
Canadian millenials should be running stills not mining gear.
Soooo.... follow me here.
I think Micon took a huge financial haircut in 2018.
Let's go over the timeline:
December 29, 2017: "Public gonna get rekt in 2018 crypto."
https://twitter.com/twt/status/946888260487393281
Amazingly, he was completely correct! The public did indeed get completely "rekt" in 2018 crypto. On the day Micon posted this, bitcoin was at about $14,500, more than 25% down from its all time high of around $19,800 just 12 days earlier.
Micon also observed that people were starting to get excited about "cool" altcoins such as Ripple, and that he felt it was all going to come crashing down in 2018, with the public having lost lots of money in the process. Here he was also spot on.
As we stand today, a little more than 11 months later, bitcoin is about $3800 -- about a 74% loss since 12/29/17 (and that wasn't even from the high)! Ouch!
Ripple, referenced in his post, closed at $2.21 on 12/29/17. It now sits at $0.34 -- about an 85% loss! Again, ouch!
But clearly Micon wasn't investing in bitcoin or Ripple anymore, as it seemed he was negative on both, as well as other altcoins such as Bitconnect.
So what did Micon do? Was he one of the few smart people who cashed out at or near the peak?
February 18, 2018: A private plane flight
While people were debating whether Micon was broke or ballin', or perhaps somewhere in between, this impressive picture popped up on Twitter:
https://twitter.com/twt/status/965729516676091904
Okay... so Micon was flying around in a private jet. Certainly not the look of a broke guy.
But was it his jet? Did he rent it?
Turns out the answer was, "Neither one."
The jet belonged to Roger Ver.
Roger was a major figure in bitcoin, who then later led the revolt against bitcoin, largely due to his advocacy of a larger block size. Ver's revolt led to the "hard fork" of bitcoin, which essentially created two bitcoins -- original bitcoin (still known as bitcoin), and a new bitcoin known as "bitcoin cash". This occurred on August 1, 2017. Whatever bitcoin you held on August 1, 2017, you had that same amount in Bitcoin Cash. At that point, the two split off and were independent of one another.
Roger was in the camp that bitcoin needs to be a transactional currency, meaning that it should be appropriate for everyday use to pay for things. The other camp in the bitcoin community disagreed with him, and preferred bitcoin staying more along the lines of a digital investment.
Micon's longtime interest in bitcoin wasn't just financial. Much of it was philosophical. He felt that bitcoin would change the world, and the anarchist in him loved the idea of being on the ground floor of a currency (supposedly) free from government interference. As Micon slowly ditched poker and became a known name in the bitcoin community, this philosophy remained important to him. He and Ver became friends, and Micon fully supported Ver's vision of what bitcoin should become. Thus, Micon became a bitcoin cash advocate, as seen in the above tweet.
So what did Micon do with all of his bitcoin at the end of 2017?
It's a fair bet that he traded them all in for Bitcoin Cash.
How much was bitcoin cash worth on 12/29/17? About $2800.
How much is it worth now? Read on...
November 15, 2018: Play It Again, Roger
Drama within the bitcoin world makes the poker world drama look tame by comparison.
Bitcoin Cash did not live happily ever after. Instead, two factions developed within Bitcoin Cash: Roger Ver and Jihan Wu wanted to keep the 32MB block size, whereas Calvin Ayre and Craig Steven Wright (who now claims he was the original Satoshi Nakomoto) wanted to increase to a 128MB block size.
This infighting led to yet another hard fork.
On November 15, Bitcoin Cash split, becoming Bitcoin Cash ABC (Ver/Wu version) and Bitcoin Cash SV (Ayre/Wright version). This hard fork was considered a disaster, as it pretty much put the nail in the coffin of the viability of Bitcoin Cash.
Value-wise, it also hasn't gone well. Unified Bitcoin Cash closed on November 14 at $425. Today, Bitcoin Cash ABC is worth $124, and Bitcoin Cash SV is worth $90 -- meaning that it's lost about 50% value since the split.
Of course, all cryptos have taken a beating since November 15, but Bitcoin Cash has gotten smacked down worse.
It is likely that Micon, who isn't a supporter of Bitcoin Cash SV, converted his Bitcoin Cash SV into Bitcoin Cash ABC after the hard fork. This likely already hurt, as SV has mostly held its value post-split (going down from about $97 to $90), whereas ABC has dropped from about $289 at the time of the split to $124.
But even ignoring that and combining the value, Bitcoin Cash was worth $2800 at the time of that 12/29/17 tweet, and now it's worth about $214. That's a 92.24% reduction in value. Triple ouch. And if he converted his SV into ABC after the recent hard fork, that cost him another 23% of his Bitcoin Cash value, meaning he will have actually lost about 94% of his crypto value since making that tweet. Quadruple ouch.
Bottom line is that, if Micon really did go all-in with Bitcoin Cash, and has held tight ever since, he's about 6% as wealthy as he was on 12/29/17.
Of course, this is all speculation, but I'd be surprised if I were too far off.
Bonus in case you are wondering where he's living now:
https://twitter.com/twt/status/1067282283563032576
Micon isn't the only former poker player speaking at crypto currency conventions about Bitcoin, Ethereum and other alt-coins. Dan Fleyshman is doing a lot of that these days too.
Micon probably cashed out of Bitcoin a long time ago.
I doubt he invested his entire fortune in Bitcoin cash.
Micon is probably putting together some type of alt-coin scam like Ripple or Tether.
Alt-coin ICO's are being prosecuted aggressively by the U.S. government which is another reason I'm sure Micon moved to the Caribbean.
Things I learned in 2018.....druff can hold a grudge.......lol......
"Druff would suck his own dick if it were long enough"- Brandon "drexel" Gerson
"ann coulter literally has more common sense than pfa."-Sonatine
"Real grinders supports poker fraud"- Ray Davis
"DRILLED HER GOOD"- HONGKONGER
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