I wish every crypto miner a very broke as fuck

@SallyStrange

“There is no organic use case reason for Bitcoin to slow or stop its descent” - Michael Burry.

Exactly. Gold is needed for many industrial purposes, same with silver and all other precious metals. Bitcoin is just a greater fool scheme and if enough fools realize it, it will collapse to zero.

@SallyStrange maybe that will free up some ram for the rest of us

@grumpasaurus
So mote it be

@csstrowbridge @SallyStrange

Ponzi scheme gotta Ponzi

@SallyStrange
If only millions of people had warned those crypto-bros this would happen.

@SallyStrange i hope it drops like an avalanche

@SallyStrange finally

"Even gold could fall victim to the recent downturn as “physical metals may break from the trend on safe haven demand,” Burry speculated, if “tokenized metals futures” were to collapse."

@SallyStrange Press ‚$‘ to pay respects …

@SallyStrange I second that emotion.

@SallyStrange
Who could have seen this coming???!!?

@csstrowbridge @SallyStrange

I considered buying some when it was $10 but considered that the supply of greater fools was probably close to exhaustion. Apparently I underestimated the idiot supply by several orders of magnitude.

@SallyStrange And when the total amount of compute dedicated to rats races is low enough, a single actor can swoop in and perform a 51% attack.

If you close your eyes and yell loud enough to not hear anything, crypto is truly amazing.

@SallyStrange cheap gpus flooding the market when

@SallyStrange
"According to Coindesk, the average cost to mine one Bitcoin is currently around $87,000 — far higher than its current going rate, making it an extremely unprofitable proposition."

It's a broken concept. Crypto-coins are not currencies but systems for speculators & criminals.

@SallyStrange The notion that much 'work' and 'profit made' in the Capitalist system is just about moving money as numbers around. There is no work done. There is no sustained investment in the company whose shares you briefly own. Yet the poor have to grind themselves into the ground for paltry sums.

@SallyStrange bring it down, crypto crash, burn and die.

@SallyStrange

> reaching historic lows of well below the $70,000 mark

Historic lows would be more like $0

@SallyStrange@eldritch.cafe @lieter@mastodon.lieter.nl or the unfealing tears of commuters :v

@SallyStrange until the difficulty algorithm adjusts... It's not rocket science guys.