Bitcoin : the Crypto Market today 14 November 2018
So this is my first time on reddit. i have been in the industry since minus day 200. I have been anonymous in my 10 years in the crypto market. I own probably the largest mining farms in the USA and have mined over 200k btc in my career. As of Dec 17th, 2018 I cashed out of the btc market except for a couple of thousand btc. Today I am going into retirement.
I have been on a small exchange chat room at tradesatoshi trying to explain to the small investor and newbie traders about what would happen this week. Here is my 411 on what is happening today.
First of all, bitcoin mining is way to expensive, and is only profitable for companies or people that are stealing electricity. The bitcoin mining difficulty is increasing by the end of the month another 25%. The oldest mining pool in China is shutting down tomorrow and the major mining farms in China have been shut down this week.
What your seeing today is the beginning of the end of the Bitcoin. The whales are selling off to meet their tax obligations before risking incarceration for tax evasion. The BS off a development team at Bitcoin cash have caused havoc in the market. The crypto market is filled with about 94% of crypto coins that have no real world applicable use and are nothing but scams. This is how a few bad and money hungry people have ruined, what was once started by a few of us coders/hackers that designed and developed the btc. To pay for services and goods without the worldly governments getting involved. To make a currency that is or was meant to be untraceable.
It failed. and that is where we are today.
Bitcoin is a distributed, worldwide, decentralized digital money. Bitcoins are issued and managed without any central authority.
FindCrypto scans the web for the latest Bitcoin news, so you can find all the latest and breaking news in one convenient location.Author: Kryscott63
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