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Bitcoin Mining Giant Core Scientific Ended October With $32M in CashCore Scientific reiterated it could run out of cash before the end of the year as lawsuits are piling up.
coindesk ^
| Nov 22, 2022
| Eliza Gkritsi
Posted on 11/23/2022 8:11:36 AM PST by Presbyterian Reporter
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To: shotgun
Best explanation I’ve ever heard.
21
posted on
11/23/2022 8:49:57 AM PST
by
PLMerite
("They say that we were Cold Warriors. Yes, and a bloody good show, too." - Robert Conquest )
To: allendale
22
posted on
11/23/2022 8:53:40 AM PST
by
Eagles6
(Welcome to the Matrix . Orwell's "1984" was a warning, not an instruction manual.)
To: dpetty121263
23
posted on
11/23/2022 8:55:46 AM PST
by
RckyRaCoCo
(Please Pray For My Brother Ken.)
To: FatherofFive
Remember—Blockchain will keep your money safe....
Bwahahahahahaha.
24
posted on
11/23/2022 8:57:35 AM PST
by
cgbg
(Claiming that laws and regs that limit “hate speech” stop freedom of speech is “hate speech”.)
To: who_would_fardels_bear
That’s not how ASIC miners work...they’re not general purpose computing devices. It would be cheaper to build new server farms than to try to repurpose the miners.
25
posted on
11/23/2022 9:03:21 AM PST
by
dinodino
( )
To: Presbyterian Reporter
It is my understanding that those miners actually keep the crypto going! If all go out of business, there would be no crypto!
26
posted on
11/23/2022 9:18:09 AM PST
by
AZJeep
To: Magnum44
It is all a mystery to me, too. Everything I read about these outfits is written in terms of $US instead of the mystery “currency” - which tells you a lot.
To: Presbyterian Reporter
There is a well organized plan by the marxists to destroy independent crypto, so the resistance to its designated replacement won’t be as large.
CBDD.
The End Of Freedom.
28
posted on
11/23/2022 9:42:43 AM PST
by
Basket_of_Deplorables
(I was so afraic of him coming in the shower with me I would wait until later in the night” Ashley B)
To: who_would_fardels_bear
Well, that is unlikely since profitable machines in this game were purpose built for “mining”.
Old machines go to the landfill as soon as it becomes unprofitable to sell their output to the next idiot.
Not only is crypto a ponzi but also a massive waste of hardware and resources...
29
posted on
11/23/2022 9:47:56 AM PST
by
varyouga
( )
To: Presbyterian Reporter; All
To: dinodino
That makes sense. I thought these were banks of graphics cards that could be reprogrammed.
To: who_would_fardels_bear
The days of GPU mining Bitcoin are far, far away in the past.
32
posted on
11/23/2022 10:06:07 AM PST
by
dinodino
( )
To: Angelino97
Instead of centralization around regulated banks, crypto is being centralized around unregulated mining operations and bitcoin owners.
Like every other investment/speculative asset, the vast majority are owned by a relative few.
Going forward if crypto ever took off among the general public, the general public will be royally screwed. This is because there will be a cost to using, exchanging, or acquiring bitcoin. If there is any bottleneck in the system, then the highest order "stakeholders", i.e. the guys with the most bitcoin will get to trade first and more cheaply. They will be able to use this to game the system as they can trade ahead of drops in bitcoin values and perform pump-and-dump operations at will.
To: Presbyterian Reporter
All crypto will go down somehow
Fed CBDC will be the only game in town. /shiny side out
34
posted on
11/23/2022 10:10:54 AM PST
by
SaveFerris
(Luke 17:28 ... as it was in the days of Lot; they did eat, they drank, they bought, they sold ......)
To: Dutch Boy
(and finally crashing like a Ponzi scheme)
Yep
35
posted on
11/23/2022 10:20:59 AM PST
by
SaveFerris
(Luke 17:28 ... as it was in the days of Lot; they did eat, they drank, they bought, they sold ......)
To: Boogieman
You are a great man of science!!
🤣😂😆👍👍👍
36
posted on
11/23/2022 10:22:04 AM PST
by
SaveFerris
(Luke 17:28 ... as it was in the days of Lot; they did eat, they drank, they bought, they sold ......)
To: Presbyterian Reporter
Bitcoin Mining Giant Core Scientific Ended October With $32M in CashCore Scientific reiterated it could run out of cash before the end of the year as lawsuits are piling up. This stuff is stupid. Nothing of real value to the world is produced for all the expenditure.
37
posted on
11/23/2022 10:28:03 AM PST
by
DiogenesLamp
("of parents owing allegiance to no other sovereignty.")
To: Presbyterian Reporter
Good riddance. All that energy being expended for ether coins.
38
posted on
11/23/2022 11:53:55 AM PST
by
C19fan
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