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Possible 2nd Cryptocrash

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Roblox Crossroads
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Founded: Apr 22, 2021
Ex-Nation

Possible 2nd Cryptocrash

Postby Roblox Crossroads » Thu Apr 22, 2021 7:58 pm

I bring news of the crypto market possibly crashing. Currently -$4,931.63 USD in 24 hours for BTC and still going. Other cryptocurrencies seem to be affected. By the looks of it some new tax was introduced by the Biden administration increasing capital gains tax (supposedly as high as 43%) which supposedly had an effect on the markets including cryptocurrencies
Source: https://www.bloomberg.com/news/articles ... pId=google

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Last edited by Roblox Crossroads on Thu Apr 22, 2021 8:14 pm, edited 2 times in total.
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Roblox Crossroads
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Founded: Apr 22, 2021
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Postby Roblox Crossroads » Thu Apr 22, 2021 7:59 pm

Unsure of the cause but apparantly its some new policy with Biden which I highly doubt. Its probably just volaility of the market coming down

EDIT at 12:31PM: Probably because of this
https://www.bloomberg.com/news/articles ... ax-anxiety
Last edited by Roblox Crossroads on Thu Apr 22, 2021 8:01 pm, edited 1 time in total.
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Nevertopia
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Postby Nevertopia » Thu Apr 22, 2021 8:01 pm

Roblox Crossroads wrote:Unsure of the cause but apparantly its some new policy with Biden which I highly doubt. Its probably just volaility of the market coming down


false, bidens policy was announced October of last year. Crypto has always been volatile and we're a few months into vaccinations rolling out, more likely scenario is people are liquidating because they need the money now that they can be out and about. Or Gamestop but thats a DEEP rabbit hole I dont want to get into.
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Roblox Crossroads
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Founded: Apr 22, 2021
Ex-Nation

Postby Roblox Crossroads » Thu Apr 22, 2021 8:02 pm

Nevertopia wrote:
Roblox Crossroads wrote:Unsure of the cause but apparantly its some new policy with Biden which I highly doubt. Its probably just volaility of the market coming down


false, bidens policy was announced October of last year. Crypto has always been volatile and we're a few months into vaccinations rolling out, more likely scenario is people are liquidating because they need the money now that they can be out and about. Or Gamestop but thats a DEEP rabbit hole I dont want to get into.

Either way, better start sellin'
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Senkaku
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Democratic Socialists

Postby Senkaku » Thu Apr 22, 2021 8:05 pm

It would’ve been funnier if it was because of a solar flare or something but I guess this way billions don’t have to die to make the worst of the late 20s/mid30s crypto bros what utter dipshits they are
Last edited by Senkaku on Thu Apr 22, 2021 8:05 pm, edited 1 time in total.
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Roblox Crossroads
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Postby Roblox Crossroads » Thu Apr 22, 2021 8:06 pm

Senkaku wrote:It would’ve been funnier if it was because of a solar flare or something but I guess this way billions don’t have to die to make the worst of the late 20s/mid30s crypto bros what utter dipshits they are

I'm honestly waiting for it to crash down so I swoop in and buy then wait for the next peak
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Roblox Crossroads
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Postby Roblox Crossroads » Thu Apr 22, 2021 8:07 pm

lmfao my friend just sent me this on discord
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Parxland
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Founded: Apr 21, 2020
Capitalist Paradise

Postby Parxland » Thu Apr 22, 2021 8:34 pm

Oh yay. I've been looking to get into the crypto market. This looks like I'm venturing into a buyers market right now.
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The Alma Mater
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Liberal Democratic Socialists

Postby The Alma Mater » Thu Apr 22, 2021 8:56 pm

Roblox Crossroads wrote:Unsure of the cause but apparantly its some new policy with Biden which I highly doubt. Its probably just volaility of the market coming down


I really, really hope the world will start cracking down on crypto soon - it is destroying the environment for no tangible benefit. Bitcoin alone requires more power than the whole country of Norway.
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Reploid Productions
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Postby Reploid Productions » Thu Apr 22, 2021 9:02 pm

Crash harder, I have friends who would like to be able to buy good video cards for reasonable prices again!
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Roblox Crossroads
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Postby Roblox Crossroads » Thu Apr 22, 2021 9:07 pm

Reploid Productions wrote:Crash harder, I have friends who would like to be able to buy good video cards for reasonable prices again!

I'm personally waiting for a 50xx card. I already got my EVGA GTX 1070 ti and I'm happy with it :)
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Heloin
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Democratic Socialists

Postby Heloin » Thu Apr 22, 2021 9:25 pm

It'd be nice if all the crypto ponzi schemes crashed so hard that they went away forever.
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Roblox Crossroads
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Postby Roblox Crossroads » Thu Apr 22, 2021 9:26 pm

The Alma Mater wrote:
Roblox Crossroads wrote:Unsure of the cause but apparantly its some new policy with Biden which I highly doubt. Its probably just volaility of the market coming down


I really, really hope the world will start cracking down on crypto soon - it is destroying the environment for no tangible benefit. Bitcoin alone requires more power than the whole country of Norway.

It apprantly costs 5k to mine 1 BTC lmao in regards to your computer and electrical prices
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Tsaivao
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Anarchy

Postby Tsaivao » Thu Apr 22, 2021 9:32 pm

Awesome. Send these wretched crypto-currencies into the abyss where they belong!
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The Alma Mater
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Liberal Democratic Socialists

Postby The Alma Mater » Thu Apr 22, 2021 9:36 pm

Roblox Crossroads wrote:
The Alma Mater wrote:
I really, really hope the world will start cracking down on crypto soon - it is destroying the environment for no tangible benefit. Bitcoin alone requires more power than the whole country of Norway.

It apprantly costs 5k to mine 1 BTC lmao in regards to your computer and electrical prices


And the whole Bitcoin system uses 129 terawatt-hours. At this rate Bitcoin will surpass the powerconsumption of the entire state of New York this year.
JUST Bitcoin. Not even looking at the countless others.

All that effort we put into renewable energy... down the drain.
Getting an education was a bit like a communicable sexual disease.
It made you unsuitable for a lot of jobs and then you had the urge to pass it on.
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Roblox Crossroads
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Founded: Apr 22, 2021
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Postby Roblox Crossroads » Thu Apr 22, 2021 9:39 pm

The Alma Mater wrote:
Roblox Crossroads wrote:It apprantly costs 5k to mine 1 BTC lmao in regards to your computer and electrical prices


And the whole Bitcoin system uses 129 terawatt-hours. At this rate Bitcoin will surpass the powerconsumption of the entire state of New York this year.
JUST Bitcoin. Not even looking at the countless others.

All that effort we put into renewable energy... down the drain.

One would argue (me) that the benefits of Nuclear and Hydro would be a better option but thats beyond the topic. But yeah its wasteful with how much power is being used
"Oh.. Oh.. Hikari-Chan! so kawaii..." - Security Guard Dude from Metal Gear Revengeance: Rising

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Tsaivao
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Founded: Apr 07, 2020
Anarchy

Postby Tsaivao » Thu Apr 22, 2021 9:41 pm

The Alma Mater wrote:
Roblox Crossroads wrote:It apprantly costs 5k to mine 1 BTC lmao in regards to your computer and electrical prices


And the whole Bitcoin system uses 129 terawatt-hours. At this rate Bitcoin will surpass the powerconsumption of the entire state of New York this year.
JUST Bitcoin. Not even looking at the countless others.

All that effort we put into renewable energy... down the drain.

This just in, the ruthless drive for capitalism greatly endangers the environment and basic senses of morality. In other news, water's wet.

As someone who is a computer science major (and who knows all too well about how many people cream their pants at the mention of "blockchain" like it's the world's saving grace of data design), I greatly oppose crypto-currencies. They're not necessary, they don't add anything but give cybercriminals yet more reason to consume shitloads of resources to waste everyone else's time, except in this case their ransomware can make them money while they do it.

If I had the power, I would ban all cryptocurrencies.
~::~ May the five winds guide us to glory ~::~
OPERATION TEN-GO: Tsaivao Authority confirms wormhole drives based on alien designs are functional | Gen. Tsaosin: "Operational integrity is the key to our success against the xenic threat. In a week, we will have already infiltrated into their world." | All leaders of Tsaivao send personal farewells to Ten-Go special forces unit Tsaikantan-8
Nation doesn't reflect my personal beliefs, NS stats aren't really worried about except for Nudity because "haha funny"
The symbol on my flag is supposed to be a typhoon
Pro: LGBT, BLM, Democracy, Democratic Socialism, Rationalism
Neutral: Gun Rights, Abortion, Centrism
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Monsone
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Inoffensive Centrist Democracy

Postby Monsone » Thu Apr 22, 2021 9:43 pm

Who knew an ill-thought-out system could be so weak. It's almost as if humanity got it right when they invented central banks and ensured currencies either backed by gold/silver or fiat.
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Kowani
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Democratic Socialists

Postby Kowani » Thu Apr 22, 2021 9:44 pm

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Roblox Crossroads
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Founded: Apr 22, 2021
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Postby Roblox Crossroads » Thu Apr 22, 2021 9:45 pm

Tsaivao wrote:
The Alma Mater wrote:
And the whole Bitcoin system uses 129 terawatt-hours. At this rate Bitcoin will surpass the powerconsumption of the entire state of New York this year.
JUST Bitcoin. Not even looking at the countless others.

All that effort we put into renewable energy... down the drain.

This just in, the ruthless drive for capitalism greatly endangers the environment and basic senses of morality. In other news, water's wet.

As someone who is a computer science major (and who knows all too well about how many people cream their pants at the mention of "blockchain" like it's the world's saving grace of data design), I greatly oppose crypto-currencies. They're not necessary, they don't add anything but give cybercriminals yet more reason to consume shitloads of resources to waste everyone else's time, except in this case their ransomware can make them money while they do it.

If I had the power, I would ban all cryptocurrencies.

I'm hoping it crashes so I can then invest and wait for the next spike lmao. I dont think banning crypto can be viable or possible unless you were to go full North Korea on the internet
"Oh.. Oh.. Hikari-Chan! so kawaii..." - Security Guard Dude from Metal Gear Revengeance: Rising

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-SARS-
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Tyranny by Majority

Postby -SARS- » Thu Apr 22, 2021 9:48 pm

The Alma Mater wrote:And the whole Bitcoin system uses 129 terawatt-hours. At this rate Bitcoin will surpass the powerconsumption of the entire state of New York this year.
JUST Bitcoin. Not even looking at the countless others.


Holy crap that's a lot of power. Humans are weird.... :unsure:
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Monsone
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Inoffensive Centrist Democracy

Postby Monsone » Thu Apr 22, 2021 9:50 pm

Roblox Crossroads wrote:I dont think banning crypto can be viable or possible unless you were to go full North Korea on the internet


Why ban it when you can make it useless by blocking any attempts to buy cryptocurrency with fiat currency? Governments can't always control the internet, but they can control their national currencies. If every nation signed an international agreement banning the use of fiat currency to buy cryptocurrency, that alone can destroy crypto without banning it. Ironically, this could be one of the few things all governments could agree on.
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Greater Cosmicium
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Democratic Socialists

Postby Greater Cosmicium » Thu Apr 22, 2021 9:52 pm

And this is why the supply and exchange of normal currencies is regulated by governments... not that it helps sometimes.
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Heloin
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Democratic Socialists

Postby Heloin » Thu Apr 22, 2021 9:52 pm

Roblox Crossroads wrote:
Tsaivao wrote:This just in, the ruthless drive for capitalism greatly endangers the environment and basic senses of morality. In other news, water's wet.

As someone who is a computer science major (and who knows all too well about how many people cream their pants at the mention of "blockchain" like it's the world's saving grace of data design), I greatly oppose crypto-currencies. They're not necessary, they don't add anything but give cybercriminals yet more reason to consume shitloads of resources to waste everyone else's time, except in this case their ransomware can make them money while they do it.

If I had the power, I would ban all cryptocurrencies.

I'm hoping it crashes so I can then invest and wait for the next spike lmao. I dont think banning crypto can be viable or possible unless you were to go full North Korea on the internet

Investing in Tulip bulbs does no one any good.
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If it wasna' for the work of the Dorsai!

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-SARS-
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Tyranny by Majority

Postby -SARS- » Thu Apr 22, 2021 9:56 pm

Heloin wrote:
Roblox Crossroads wrote:I'm hoping it crashes so I can then invest and wait for the next spike lmao. I dont think banning crypto can be viable or possible unless you were to go full North Korea on the internet

Investing in Tulip bulbs does no one any good.


At least tulips can decorate your yard. Bitcoin is even more useless.
This nation is made with pure 100% all-natural SARS. Non-GMO, gluten-free, and ZERO ADDED SUGAR!

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