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a bit more info on why PK isn't a fan >> https://www.nytimes.com/2018/07/31/opinion/transaction-costs-and-tethers-why-im-a-crypto-skeptic.html

3 minute segment of an interview with Derek Urben CFO of Coinigy with an explanation of the problem with bitcoin and what to look for to signal a future move.    

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A very interesting article passed my way and maybe interesting for other Community members. Really helps explain the actual hashing process and puts a few things into context. 




Also an absurd but hilarious sign off... 


"A Reddit reader asked about my energy consumption. There's not much physical exertion, so assuming a resting metabolic rate of 1500kcal/day, manual hashing works out to almost 10 megajoules/hash. A typical energy consumption for mining hardware is 1000 megahashes/joule. So I'm less energy efficient by a factor of 10^16, or 10 quadrillion. The next question is the energy cost. A cheap source of food energy is donuts at $0.23 for 200 kcalories. Electricity here is $0.15/kilowatt-hour, which is cheaper by a factor of 6.7 - closer than I expected. Thus my energy cost per hash is about 67 quadrillion times that of mining hardware. It's clear I'm not going to make my fortune off manual mining, and I haven't even included the cost of all the paper and pencils I'll need."


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as an FYI with immediate effect the starting margin rate on Bitcoin and Ether for professional clients has been dropped to 20%.

Margins for retail clients remain at 35%, and all other cryptocurrencies remain unaffected.

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What!  yes, that was the reaction on twitter too. But it turned out to be just a promotion for 50 years of the big mac. It was in the 80's that the Economist started the big mac index, be interesting to review the first one and check which countries weren't on it compared to today.

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I may have to change my thoughts on crypto, If Paul Krugman thinks they're a terrible idea then perhaps I should be loading up on them after all. The problem remains which one, I still think that there will be one eventual winner and that 'the one' may not even be here yet.




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interesting @Caseynotes. I actually wrote something similar to this which was posted on IG.com regarding ether and the network effect of metcalfe's  law. That looks at the network effect rather than the actual transactional network effect, but the principles are the same. 

Are these the new EPS / EBITDA's of the crypto world? 


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    • By the way if its a system you want to demo or try, I trade US 500 and Russell Long only, with no stops, I would not trade with no stops for gold, oil etc but am happy to do it on US indices as nothing recovers as quickly as US markets, so if I am wrong i just hold it until it goes in profit again, when I am wrong I wait until market recovers, so sometimes when market has gone against me I have to wait 4 -8 weeks before it recovers but this way means no drawdowns only overnight currency charge which is minima. You need to trade wihin your accoutn to do this as you need to make sure your balance is big enough when you get it wrong. You could try it on IG demo account  to see if it worked for you.
    • Yes your balance needs to be above 0, that's your most important number don't fall into the trap of thinking if its above 0 you can put trades on, you can but your balance needs to be big enough that if they go against you, you are still above 0, if not you get messgage from IG to add funds to your account or IG will take you out of trades, so if you had a trade you wanted to keep on it would now be taken out as a loss as funds in balance are in minus. You need a big enough number left in the balance column that if your trades go against you you can still hold if you want to.
    • Now all Musk has to do is buy BTC again and re-ramp for another shed load of profit.....
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