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HEALTH, WEALTH, AND HAPPINESS |
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“Always turn a negative situation into a positive situation.” – Michael Jordan |
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| Surging Burn Rate for ETH (The Defiant): If you read last Friday's column on "Magic Pie," you know this is good news for ETH investors. When the pie gets smaller, your value gets bigger.
Investor takeaway: Regardless of the price of Ethereum, the value of Ethereum (i.e., your slice of the pie) has grown since August -- and based on this news, that value appears to be increasing. |
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From Friday's column, here's a look at Ethereum inflation before and after the EIP-1559 upgrade in August (lower=better): |
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Now here's a look at how that inflation rate has changed, since Friday. |
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| Investor takeaway: As ETH gets burned more quickly, it grows more valuable (as a percentage of the total pie). Few crypto investments can claim that.
Even though the value is increasing, the price is decreasing: the price of ETH is currently 34% lower than last fall. For crypto investors, this is a "flash sale" situation. If you haven't bought ETH yet... |
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| Hi Everyone,
It doesn't happen often, but the last time a journalist blindsided me with a question was during a live Bloomberg TV interview with Anna Edwards.
Unfortunately, I have been unable to locate the recording, but the question was about bitcoin's energy consumption and the resulting environmental impact.
In all fairness, I should've probably been ready for that one. After all, during a prior media training session, I specifically asked the instructors to use this conundrum in order to grill our analysts and better prepare them to deliver interviews.
I wouldn't say that I botched the answer, but rather that all the rebuttals we discussed in training went out the window in that moment, as I conceded that it is indeed a problem.
It was about a week later that Elon Musk famously tweeted that Tesla would no longer accept bitcoin for car purchases, citing environmental concerns.
Musk and I are not alone in thinking that way, however, as over 67% percent of the more than 300,000 users polled by LunarCrush indicated that carbon emissions are indeed a problem for the industry. |
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Enter Intel
Rumors that chipmaking giant Intel Corporation would get inside the crypto industry in order to solve this issue have been swelling ever since they first announced that they had released a patent for a bitcoin mining chip accelerator nearly four years ago. The company now seems prepared to confirm those rumors...sort of.
At an upcoming event known as the International Solid-State Circuits Conference, or ISSCC, a rather interesting item has just appeared on the bill for Feb. 23. ... |
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| This news, coupled with a well-placed teaser in December from Raja Koduri, Intel's GPU chief, has the crypto media in hyperspeculation mode.
At this point, however, we have no idea what they will actually be unveiling. Will it be a proof of concept, a ready made product, or something else?
Also, how efficient will the Bonanza Mine be? More importantly, how will it compare with the current ASICs in the market?
According to our analyst Jason Deane, the metric to watch is watts per terahash. The top-of-the-line antminer s19 100s currently get 30 watts per terahash, and the m20s series will get you 48.
More importantly, however, is the question of scale. As we know, Intel is currently in the throes of a major chip shortage.
With the demand for electronic devices skyrocketing since the pandemic, how much silicone will they be able to divert to bitcoin? Currently, we don't know. |
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Nearly Halfway
There are still plenty of unknowns out there.
As a man who is currently the chief financial officer of a company that is currently raising funds for a bitcoin mining venture, I'm not too concerned.
After all, we can always adapt to the market, and our current projections look really solid. (Disclaimer: this message should not be construed as an inducement to invest in a security)
As an avid bitcoin supporter, I'm excited that new solutions are coming to our industry, even though we have no clue what the impact may be or when it will take place.
We do, however, know within a very narrow margin of error when the next bitcoin halving event will be. At present time, we're roughly 100 days from the halfway mark.
As the halfway mark of the four-year halving cycle does play a critical role in most cycle-based bitcoin analysis, analyst Jan Wüstenfeld has taken a good look at the graphs and provided a great explanation for why bitcoin reaching $100,000 might still be on the table.
Have an awesome evening. |
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| Mati Greenspan Analysis, Advisory, Money Management |
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Maybe Turkey will be the next country to make bitcoin legal tender! |
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Plus, they rummage through your personal stuff at night. |
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| Bitcoin Market Journal is a daily newsletter focusing on blockchain and crypto investing. It is created by Evamarie Augustine, Charles Bovaird, Mati Greenspan, John Hargrave, and Steve Walters.
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