$Riot Platforms (RIOT.US)$ this should come as no surprise t...
$Riot Platforms (RIOT.US)$ this should come as no surprise to anybody, and clean spark and Mara also are going to suffer from the same problems. and that is the having. I said this earlier in the year I got mocking ridiculed the chickens came home to roost and it's happening again. if you can only get half of the inventory for your shelves versus the prior quarter then you need to sell them at twice as much in order to have the same revenue and the same net profits. the having reduced Bitcoin available and bitcoins price albeit recently was down significantly so the appreciation of Bitcoin is too little too late and it's not representative of a double not by a long shot to offset the reduction in the amount that they mine.
what it comes down to is November 5th if we are fortunate enough to have a trump victory then to the Victor air the spoils and it starts with Bitcoin gapping up several thousand dollars upon confirmation of a trump victory and the mining companies will follow suit because at that point in time Trump will establish a strategic reserve for Bitcoin just like there is a strategic reserve for oil and gold. on doing so other countries around the world will also follow thus begins the rally towards ...
Bitcoin the final frontier.. these are the voyages of the Trump administration.. to boldly go where gold has never gone before.
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36 yrs in the trenches, raised 100mil for start ups, syndicate ipo's, yrs on trading desk mkt maker.
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egan1 : yea, I've tried educating people multiple times about why miners are structurally unprofitable. every time these bitcoiners say yeah, but Bitcoin will be 100k by the end of the year. not realizing that even if Bitcoin is at 1m, miners still won't be profitable for a couple of different reasons, mainly depreciation and difficulty. bitcoiners are a lost cause if I could keep them from losing money here, they'd lose it somewhere else. so i just gave up and let them donate to my short position.