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  1. #1741
    Join Date
    Mar 2007
    Location
    Boca Grande Florida
    Things are happening fast...

    Venmo/PayPal added 77 million users access to crypto currencies today in the US.
    Wheat/"/"/"
    "An angry man catches no fish"-Zen proverb.

  2. #1742

    May not be for the faint of heart

    $200 billion wiped off crypto market in a day as bitcoin plunges below $50,000


    https://www.cnbc.com/2021/04/23/bitc...ndroidappshare

  3. #1743
    Join Date
    Jan 2010
    Location
    Outside Philly
    Quote Originally Posted by YmoBeThere View Post
    $200 billion wiped off crypto market in a day as bitcoin plunges below $50,000


    https://www.cnbc.com/2021/04/23/bitc...ndroidappshare
    Heck of a ride.

  4. #1744
    Quote Originally Posted by YmoBeThere View Post
    $200 billion wiped off crypto market in a day as bitcoin plunges below $50,000


    https://www.cnbc.com/2021/04/23/bitc...ndroidappshare
    For reference down 21% in 10 days.

  5. #1745
    Join Date
    Nov 2007
    Location
    Vermont
    semi apropos to all this...I saw a piece in Business Week which said that when bitcoin mining peaks in China in a couple years, it will annually consume more power than the entire country of Italy uses in a year.

    There has been some weird fallout along these lines...a few years ago, some bitcoin miners set up operations WAY up in northern NY state, where costs are low, and power is ultra cheap due to hydro power. Giant server farms.
    But (there's always a but) they consumed so much power that it exhausted the "cheap" power the area was entitled to by contract, and normal human beings in the area suddenly saw gigantic increases in their power bills. Not sure how they worked that out.

  6. #1746
    Quote Originally Posted by budwom View Post
    semi apropos to all this...I saw a piece in Business Week which said that when bitcoin mining peaks in China in a couple years, it will annually consume more power than the entire country of Italy uses in a year.

    There has been some weird fallout along these lines...a few years ago, some bitcoin miners set up operations WAY up in northern NY state, where costs are low, and power is ultra cheap due to hydro power. Giant server farms.
    But (there's always a but) they consumed so much power that it exhausted the "cheap" power the area was entitled to by contract, and normal human beings in the area suddenly saw gigantic increases in their power bills. Not sure how they worked that out.
    Until we have unlimited power, I just don't see cypto as a long term solution. It's not going to be long before the environmentalists target it, and to be honest, I'm surprised it hasn't happened yet.

  7. #1747
    Quote Originally Posted by PackMan97 View Post
    Until we have unlimited power, I just don't see cypto as a long term solution. It's not going to be long before the environmentalists target it, and to be honest, I'm surprised it hasn't happened yet.
    I'm not knowledgable about this topic, but found the two below articles interesting:
    https://www.independent.co.uk/climat...-b1819545.html
    https://www.forbes.com/sites/rogerhu...h=11c93bb420a7

    Seems like the key is to transfer the power usage to renewables that mine bitcoin or in places where there is excess power supply.

    It's also interesting that when googling "environmentalist cyrptocurrency," it's mostly articles ASKING the question. You're right that it doesn't seem like environmentalists have targeted it much yet.

    Let's just set up a couple nuclear plants for bitcoin mining and we'll be all set. It's cheap (once the plant is built...) and clean.

  8. #1748
    Quote Originally Posted by budwom View Post
    semi apropos to all this...I saw a piece in Business Week which said that when bitcoin mining peaks in China in a couple years, it will annually consume more power than the entire country of Italy uses in a year.
    We learned this month that a vast amount of Bitcoin mining is concentrated in a limited area in a region of China where coal is cheap and king. One mine got flooded and it took down about 20-30% of the global hash rate. The geopolitical ramifications of this “discovery” don’t bode well of Bitcoin’s future. If anyone can control 51% of the network hash rate they can grind the whole thing to a halt.

    Quote Originally Posted by Bluedog View Post
    I
    Seems like the key is to transfer the power usage to renewables that mine bitcoin or in places where there is excess power supply.

    It's also interesting that when googling "environmentalist cyrptocurrency," it's mostly articles ASKING the question. You're right that it doesn't seem like environmentalists have targeted it much yet.
    You are looking for Chia coin. It’s still in the infancy stage. It uses storage and time instead of power hunger GPUs and ASIC machines. They “plot” and “farm.” There are already hard drive and SSD shortages in China from these guys. Glad I built my computer over the holidays.
    Last edited by Kdogg; 04-23-2021 at 06:08 PM.

  9. #1749
    Join Date
    May 2010
    Location
    Durham, NC

    Lord Abbett funds

    Hi all

    In preparation for retirement in a couple of years, I sold some shares I had in NVidia. I made a fair amount of money on the shares, but felt like I didn't need the volatility at this point in my life. Our investment guy is proposing a few possible places to put the money. One of them is in some of the Lord Abbett funds. I had never heard of this fund family before. Does anyone have experience with these funds or an opinion to share? If it matters, the amount is about 200k.

    Howard

  10. #1750
    Join Date
    Dec 2009
    Location
    North of Durham
    Quote Originally Posted by howardlander View Post
    Hi all

    In preparation for retirement in a couple of years, I sold some shares I had in NVidia. I made a fair amount of money on the shares, but felt like I didn't need the volatility at this point in my life. Our investment guy is proposing a few possible places to put the money. One of them is in some of the Lord Abbett funds. I had never heard of this fund family before. Does anyone have experience with these funds or an opinion to share? If it matters, the amount is about 200k.

    Howard
    I have a few former colleagues whose work I respect who work on their muni funds. I don’t think that is particularly helpful but I figured it is something.

  11. #1751
    Join Date
    Nov 2007
    Location
    Vermont
    https://www.cnn.com/2021/04/27/inves...gos/index.html

    Fallout from investment "genius" Bill Hwang now hits $10 billion...LOL at the Credit Suisse ($5.5 billion in losses) "risk manager" who may struggle to get his next gig.

  12. #1752
    Join Date
    Jan 2010
    Location
    Outside Philly
    I did not realize how many crypto assets there are.

  13. #1753
    Quote Originally Posted by bundabergdevil View Post
    I did not realize how many crypto assets there are.
    Dozens. And yet, everywhere I want to spend my US dollars has no issues taking my credit card, cash or check.

  14. #1754
    Join Date
    Jan 2010
    Location
    Outside Philly
    Quote Originally Posted by YmoBeThere View Post
    Dozens. And yet, everywhere I want to spend my US dollars has no issues taking my credit card, cash or check.
    I occasionally barter goods and services still.

  15. #1755
    Join Date
    Nov 2007
    Location
    Vermont
    Quote Originally Posted by bundabergdevil View Post
    I occasionally barter goods and services still.
    I am a known barterer myself...rural living lends itself to that...

  16. #1756
    Quote Originally Posted by budwom View Post
    I am a known barterer myself...rural living lends itself to that...
    LOL, perhaps I should not ask this on an open thread, BUT are you declaring on your state and federal income tax returns the value of what you receive when you barter your services??

  17. #1757
    Join Date
    Jan 2010
    Location
    Outside Philly
    Quote Originally Posted by duke79 View Post
    LOL, perhaps I should not ask this on an open thread, BUT are you declaring on your state and federal income tax returns the value of what you receive when you barter your services??
    (Narc)

  18. #1758
    Quote Originally Posted by bundabergdevil View Post
    I occasionally barter goods and services still.
    People needing help getting stuff from the upper shelves at the grocery store

  19. #1759
    Join Date
    Jan 2010
    Location
    Outside Philly
    Quote Originally Posted by YmoBeThere View Post
    People needing help getting stuff from the upper shelves at the grocery store
    Oooh, call-back. Yeah, I charge the little old ladies for that service!

  20. #1760
    Quote Originally Posted by duke79 View Post
    LOL, perhaps I should not ask this on an open thread, BUT are you declaring on your state and federal income tax returns the value of what you receive when you barter your services??
    Quote Originally Posted by bundabergdevil View Post
    Oooh, call-back. Yeah, I charge the little old ladies for that service!
    It would be interesting to see how the IRS valued that...

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