- This topic has 7 replies, 2 voices, and was last updated 5 months, 2 weeks ago by -Skald.
- Friday, June 17th, 2022 at 22:12 #311142newbonsiteParticipant
Cryptocurrency News – Crashing Prices Expose BTC Mining Industry’s Addiction to Leverage.
Read Here (Article Link):
What are your thoughts after reading this news article?Friday, June 17th, 2022 at 22:13 #311148Kakoyiannaros
Crashing prices expose *everyone’s* addiction to leverage. Wink wink CEXs.Friday, June 17th, 2022 at 22:14 #311144newbonsite
Not a great addiction to have ,all is well and good in a bull market but the bear market creeps up quickly and can Destroy you…Friday, June 17th, 2022 at 22:22 #311147GabeDef
The marketing. Behind BTC during the last bull run was a masterclass in bullshit. “Hedge against inflation.” Everyone could see it was inflation causing BTC and ETh to moon. Literal free money loans came to an end, and so did the bull run.Friday, June 17th, 2022 at 22:40 #311143Proud_Reserve3029
Pretty sure why we never see crazy leverage in stock market. We don’t actually know what is the actual crypto market cap before all this crazy leverage is added on top. I think we will find out soon enoughFriday, June 17th, 2022 at 23:15 #311145coinfeeds-bot
tldr; Bitcoin miners face possible liquidation after taking out high-interest loans to fund their bull market spending habits, rather than selling their bitcoin. Bitcoin miners rely on three profitability dynamics: the price of bitcoin, electricity prices and access to high-performance mining rigs known as ASICs. Bitcoin is down some 30% over the past month.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*Friday, June 17th, 2022 at 23:19 #311146Stone-D
> Crashing Prices Expose ~~Bitcoin Mining Industry’s~~ **people’s** Addiction to ~~Leverage~~ **gambling**
FTFYSaturday, June 18th, 2022 at 01:34 #311149-Skald
Unfortunately, the entire global economy is built on leverage.
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