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Sam Jennings

Joined: 04/03/15


Comments by Sam Jennings
Bitcoin May 26, 2021 2:44PM ET
 Can't fully agree with that, considering it does not bear out.  They invest in gold, even though they don't have total control over that, either... so there goes the principle that they need to hypercontrol everything financial.  Crypto is not a threat to them.  It does give people more flexibility, and financial security, but it is not such a potent destabilizing force, that it would cause one of the strongest world governments to fall. Can't fully agree with that, considering it does not bear out.  They invest in gold, even though they don't have total control over that, either... so there goes the principle that they need to hypercontrol everything financial.  Crypto is not a threat to them.  It does give people more flexibility, and financial security, but it is not such a potent destabilizing force, that it would cause one of the strongest world governments to fall.
Bitcoin May 26, 2021 2:08PM ET
 Clearly, it does govern, though, or China would not be an export economy.  They do want money.  They strive for it.  Crypto leadership has been a tremendous boon, to them.  It is foolish of them, to stomp on that. Clearly, it does govern, though, or China would not be an export economy.  They do want money.  They strive for it.  Crypto leadership has been a tremendous boon, to them.  It is foolish of them, to stomp on that.
Bitcoin May 26, 2021 2:07PM ET
 But wealth translates to power, within a framework of respect, for the right to property, and trade. But wealth translates to power, within a framework of respect, for the right to property, and trade.
Bitcoin May 26, 2021 1:54PM ET
 But their government has an interest in wealth.  If their government simply holds onto some crypto, as an asset, they have ever reason in the world to see it succeed. But their government has an interest in wealth.  If their government simply holds onto some crypto, as an asset, they have ever reason in the world to see it succeed.
Bitcoin May 26, 2021 1:46PM ET
 But it makes better sense, if the party just HODL's some, for itself, and gets rich, on the trend. But it makes better sense, if the party just HODL's some, for itself, and gets rich, on the trend.
Bitcoin May 26, 2021 1:34PM ET
 Sad to hear their central government chose to make life harder for the provincial miners... might as well use the electricity, if they are over-generating, like maybe at that famous new Yang Tse hydro dam. Sad to hear their central government chose to make life harder for the provincial miners... might as well use the electricity, if they are over-generating, like maybe at that famous new Yang Tse hydro dam.
Bitcoin May 26, 2021 1:32PM ET
 I think we would see a buildup, to that, if it were going to happen.  They haven't banned the machines, have they?  Just mining?  People are still free to sell off their hardware, on Ali Baba, or something. I think we would see a buildup, to that, if it were going to happen.  They haven't banned the machines, have they?  Just mining?  People are still free to sell off their hardware, on Ali Baba, or something.
Bitcoin May 26, 2021 1:21PM ET
 Who knows what news will come out, good or bad... but despite all the regs, China did not ban crypto, outright.  Take that for what it means.  It is still legal, in China... and  as for mining, I remember from before (maybe inaccurately) that they had already made mining illegal, at the height of the last bitcoin boom, years ago... I don't understand how it would be "more illegal" now, than it was, from back then?  And... won't they simply sell their miners outside the country, now?  Bitmain already sells to international clients.  This news should be great for miner companies that are outside of China.  There are some publicly listed ones, in the USA, for example. Who knows what news will come out, good or bad... but despite all the regs, China did not ban crypto, outright.  Take that for what it means.  It is still legal, in China... and  as for mining, I remember from before (maybe inaccurately) that they had already made mining illegal, at the height of the last bitcoin boom, years ago... I don't understand how it would be "more illegal" now, than it was, from back then?  And... won't they simply sell their miners outside the country, now?  Bitmain already sells to international clients.  This news should be great for miner companies that are outside of China.  There are some publicly listed ones, in the USA, for example.
Bitcoin May 26, 2021 1:12PM ET
 Bitcoin already dropped...was down about 50%, on this China news... I think that was enough to justify an end to panic selling. Bitcoin already dropped...was down about 50%, on this China news... I think that was enough to justify an end to panic selling.
Bitcoin May 26, 2021 1:08PM ET
 How much crypto mining was happening there?  Like...what percent of AISIC mining?  I thought they had already banned mining there, anyway. How much crypto mining was happening there?  Like...what percent of AISIC mining?  I thought they had already banned mining there, anyway.
Bitcoin May 26, 2021 1:04PM ET
 I guess I better look that up. I guess I better look that up.
Bitcoin May 26, 2021 12:57PM ET
 So, then, the Chinese holders are not able to sell any of their crypto?  It's all locked up? So, then, the Chinese holders are not able to sell any of their crypto?  It's all locked up?
Bitcoin May 26, 2021 12:52PM ET
So... are there still bitcoin exchanges in China?  Or are all the holders, there, unable to sell any bitcoin, at all?
Bitcoin May 26, 2021 12:02PM ET
They say that the bitcoin whales are buying it up, right now. https://www.tweaktown.com/news/79509/bitcoin-whales-buy-up-122-588-btc-after-price-plummets-to-32-000/index.html
Bitcoin May 26, 2021 10:20AM ET
I wonder how many of the shorts, here, have ever actually MINED btc, before.  I challenge you... see if you can PRODUCE one, at this price... or if your cost of electricity, and equipment, actually is higher.  Go on.  Let us know what happened.
Bitcoin May 25, 2021 3:55PM ET
wait forever.
Coinbase Global May 25, 2021 11:04AM ET
I guess it didn't do an upgrade, since they just started coverage, but they initiated at overweight, with a 371 target.
Coinbase Global May 25, 2021 10:22AM ET
You don't seem to realize, there is only so much damage China can do, before people just write it off, as a non-relevant entity in the cyrpto realm.
Coinbase Global May 25, 2021 10:19AM ET
JPM just initiated coverage, at overweight, and gave CB an upgrade, and a target of $371/share.
Bitcoin May 20, 2021 1:58PM ET
Turns out, the China news was fake... so, it _could_ go way above that.
Bitcoin May 20, 2021 1:33PM ET
 Same guy who claimed Elon Musk had sold his BTC, when that is also already debunked.  You're marked, in my book, for these false things you say. Same guy who claimed Elon Musk had sold his BTC, when that is also already debunked.  You're marked, in my book, for these false things you say.
Bitcoin May 20, 2021 1:01PM ET
It says the China crypto ban was a MEDIA HOAX. https://themorningbull.com/click-hungry-crypto-news-sources-claim-china-just-banned-bitcoin-but-they-didnt/
Bitcoin Plunges, Rebounds On Elon Musk Tweets May 17, 2021 10:52AM ET
Remember:  You can file reports on Musk, at the SEC website.
MicroStrategy May 17, 2021 10:35AM ET
With a $1,000 value drop in bitcoin, today, that takes it down from $210.89 worth of btc, per share, to $201.46... a crude working math for this: roughtly a change of $9.43, in equity value change, per share, per $1,000 price change in btc... but that 'formula' would break, if some things happened, such as if they issued more shares, if they bought more btc, if they borrowed more money, or if they paid off debt.
MicroStrategy May 17, 2021 10:08AM ET
Also, even if you don't "see" who is backing btc, there is no way it reached this level without some shadowy backers, supporting it politically, etc. At this point, even big mainstream players are on board.