Subnostr

the good part is that we know if the suckers are getting wise to ETH then they will eventually get wise to BTC scams as well... this has been going on for a bit over a year now, so i think maybe next year will not be so bad

they are definitely keeping the price down, the sheer volume of fees they are paying for this nonsense is coming from buys but obviously the miners are still selling

and that's the part that is crappy... the miners are almost certainly behind this shit, i can't see any reasonable logic behind any other group promoting this shitcoinery

and if they are doing this to keep their boats from sinking then it means that someone else bigger is shorting bitcoin and keeping it from finding its level... i am still to wrap my head around how one does that exactly... this line of questioning naturally leads back to the likes of CZ and Justin Sun et al.

I guess you short Bitcoin by purchasing fiat or reducing fiat supply, which is what the Central Banks have been doing.

but that should be lowering energy prices as well

It has. That's why we're heading to disinflation.

The falling wholesale prices just haven't trickled down, yet, as consumers tend to have long-term contracts. My electricity contract runs out this month and they lowered our rate and gave us over €800 back.

over where you are they kept on decommissioning generators as well and even still look at this

they are gonna panic with disinflation because they can't make money on loans when people's money increases in value, then it'll be another leg up for bitcoin, gold, silver, coal, oil

I think we have to be careful to always focus on purchasing power, rather than nominal price.

I think commodities (of which Bitcoin is the only digital one) might follow everything down in nominal price, as money tightens, but retain its relative purchasing power.

And I think that'll force them to lower rates, to repay the debts. They're in an interest rate trap.

Here is Brent Crude, only kept from complete collapse by the war in Palestine and the resulting difficulties in shipping.

Last time i heard about this was when USA started selling fuel from its strategic reserves in order the prices not to skyrocket. But it's been a while since. What is happening now? I really don't know...

There was a temporary supply shock because of Covid causing them to reduce energy production, while printing money, followed immediately by Russia causing them to ramp up energy production and throttling the money printers, and now that's evened out and we're back to the impact of declining industry and an aging population lowering consumption per person.

https://www.reuters.com/business/energy/russias-april-oil-gas-revenue-double-reuters-calculations-show-2024-04-24/

I really don't know. For example here is a today's article from reuters which says something else as you see...

I'll have to search it and i am not in the mood right now. If you find more on this i am interested though...

>>Reuters calculations show Russia's projected April oil and gas revenue at 1.292 trillion roubles ($14 billion), up from 648 billion roubles in April 2023<<

Love how they leave the price in dollars out of the comparison data, even though the Ruble collapsed in that time. 🤦‍♀️

Got all the way above 100.

REVENUES IN RUBLES DOUBLED!!

(while ruble got cut in half)

Very good.

I thought that reuters is a western source so they wouldn't make tricks like that. Very good that you noticed that. Thanks. So far your explanation is the best then 👍

Probably just sloppy journalism. Seems to just be a translation of a Russian government press release.

No they say that russians will provide that information in May. It's their own calculation, they say what they did in the article. Yes they should use dollar as a comparison also. That was an excellent point Leserin

🫂

So one reason it seems, is that winter is over.