My usual argument against this assumption is that it is not only BTC mining that is posing a danger to the environment from carbon emissions, Before mining of Bitcoin started there have always been carbon emissions from industrial actions and exhaust fumes of vehicles during transportation, and fossils have always been burnt for electricity.

You are right, I didn't think specifically about the carbon emission issue.
And I agree with you, BTC mining carbon emissions are no threat to the environment.

When there's a reserve of electricity (caused by having lots of miners using a fixed amount of GW at any given time), then you can basically unlock it during a crisis by contractually obliging the miners to shut off their equipment.

It becomes a bit of a problem when no contractual measures or legal agreements are put in place between the utility and the miners though.

That is just a theoretical problem imo
in practice every gov can force privates to put their propriety at the service of the community during a crises. In every legal system there is this clause, either implicit or explicit.

Quote from: Peter90 on May 19, 2024, 10:12:10 AM

Just waiting for my silver miners to do their job...

I have zero interest in opening an account at the CME, so I have no idea Faisal - but I have the biggest respect if you want to try 
I know the word CME only because CME owns the Comex.
The Comex (COM-modity EX-change) is the biggest exchange for gold & silver futures, so observing the behaviour of the traders at the Comex can help to decipher how G&S price will move short term.

I also have no interest right now haha, especially after seeing the requirements. So what exchange or platform are you using for silver trading or investing other than Comex? I never trade silver or gold TBH, so don't know how it feels, like I can assume we can trade like we trade crypto, right? BTW can we make the same type of profits from it, I read somewhere that, gold takes 10 years to repeat its bullish cycle so as a silver investor, does it also have a bullish or bearish cycle like BTC has?

If you don't mind to sharing your experience of trading in G&S, although I can see your silver miners are really making you money on silver right now, but overall, what we can expect from this pair? I hope you won't mind me asking this, as I want to step into this type of trading as well.

Well, while your silver miners are making money, I think it's time to visit the dentist hehe. I hope you get well soon.

I'm not enough smart to trade Faisal, call me a G&S hodler 
I trade only minimally (silver call options). I'm used to lose money but in the last couple of months Karma was good to me.
I use my local bank and their broker, it's not a sophisticated platform but enough for me.
If I'd try to trade G&S I'd probably use the exchange of Kinesis where one can trade PM, fiat and cryptos.

I buy call options with minimum 6 month duration, so if my buy-timing is bad as always there should be enough time for the price to come back up. Leverage 2-3 is enough for me.


The rationale for G&S miners is very simple:
G&S miners traditionally amplify G&S moves,
G&S are undervalued vs other assets,
G&S miners are undervalued both vs G&S and vs stock markets.


G&S are undervalued vs other assets




G&S miners are undervalued vs other assets




G&S miners are undervalued vs G&S

..........


G&S miners are undervalued vs stock markets

so the question whether ETH is a security or a commodity is - at least in the USA - settled once and for all?

It has been a long time since I heard about BRICS+, and it is good that you created this topic for discussion. I am from the United Arab Emirates and I can say that my country depends on the dollar in one way or another. The local currency is linked to a fixed value of the dollar, and the sale of natural gas is made in dollars, and investments in Ports require that sales be made in dollars.

HB, the Dirham being pegged to the $ doesn't mean anything
There was a troll - Stompix - who kept aggressively jumping on me pointing to that fact, in order to deny the de-dollarization in the Arab Gulf region.

Your country is de-dollarizing


"On 28 March 2023, the Shanghai Petroleum and Natural Gas Exchange (SHPGX) made history by announcing the first-ever deal on importing 65,000 tons of liquefied natural gas (LNG) from the UAE, settled in the Chinese yuan currency."

thecradle.co



"China's attempts to internationalise the yuan are finding fruit in the Gulf states. These states, particularly the United Arab Emirates and Saudi Arabia, are strengthening their financial cooperation with China through currency swap agreements, cross-border trade settlement arrangements and digital currency collaboration efforts.

On 28 November 2023, the People’s Bank of China and the Central Bank of the United Arab Emirates renewed their currency swap agreement worth US$4.89 billion for five years. Both banks also signed a memorandum of understanding to enhance collaboration in digital currency development."

eastasiaforum.org



"The key to understanding it all is Chinese President Xi’s recent historic visit to Saudi Arabia and other Gulf Cooperation Council (GCC) states to launch, in his words, “a new paradigm of all-dimensional energy cooperation.”
The GCC includes Saudi Arabia, Kuwait, Qatar, Bahrain, Oman, and the United Arab Emirates.
China is the GCC’s largest trading partner.

During Xi’s visit, he made the following crucial remarks (emphasis mine):
“China will continue to import large quantities of crude oil from GCC countries, expand imports of liquefied natural gas, strengthen cooperation in upstream oil and gas development, engineering services, storage, transportation and refining, and make full use of the Shanghai Petroleum and National Gas Exchange as a platform to carry out yuan settlement of oil and gas trade.”

internationalman.com


...............


Of course they are the first steps, but it's clear what's happening

Dubai is a major gold trade hub.
Abu Dhabi too?

+1 for coming from the UAE!

Benefits for countries and members

Gold Sovereignty
Retain control over your physical gold preventing gold drainage from Africa.

Mobile Money Payments
Integration with prevalent systems like USSD, ensuring smooth transitions and user accessibility.

Anti-Inflationary Solution
Gold-backed payments empower African country currencies, offering stability against inflation and de-dollarisation.

Taxation and Law Enforcement
Advanced features for compliance, including user identity and flexible taxation tailored to local needs.

BRICS-ready Solution
Proactive gold-backed system integration positions BRICs candidates at the forefront of financial innovation.

Cheaper and Faster Payments
Central banks control transaction costs on a network, ensuring low fees across National and International payments.

https://clinq.gold

White Paper

Argentina's energy sector is increasingly turning to Bitcoin, this time with a state-owned facility using stranded natural gas from oil fields that would otherwise be wasted.

State-owned energy firm YPF's subsidiary, YPF Luz, recently partnered with Genesis Digital Assets (GDA) to launch a gas flare-powered mining facility. It will harness 1,200 machines to monetize gas currently being flared into the atmosphere.

This comes as Argentina embraces Bitcoin with the election of Bitcoin-friendly President Javier Milei in late 2023.

The news mirrors how other countries are utilizing Bitcoin mining to "clean up" energy grids.
Bhutan mines Bitcoin with renewable hydropower to consume its seasonal excess, while El Salvador uses geothermal energy to power mining with no carbon footprint.

zerohedge.com

BTC for kiddos 

Nice website
btcpublish.com
...............

Congrats to those 4!





I think the main reasons for the approval have been 2:
- the pressure of financial monsters like Blackrock and JP Morgan was too strong.
- the fact that Biden lags behind pro-crypto Trump forced the Dems to appeal to crypto voters, so they pressured the SEC to approve the ETFs.

Do I feel sorry for Gary Gansler,
not really