Bob Burnett
@boomer_btc
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#Bitcoin Evangelist | Founder/CEO at Barefoot Mining | ex-CTO at Gateway, Inc | Board Member at Ocean | Advisor to M5ers | IBC Guide
Joined February 2020
I was at a function tonight at my golf club. Attendees there were mostly in their 50s and 60s and high net worth folks. They all have called me Bitcoin Bob for the past several years. It is all in good fun and they have all heard my pitch for Bitcoin at some point. A couple.
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@realEstateTrent We had an IN tray and OUT tray. We typed memos on typewriters. We used gold envelopes for more private messages and wrote the name and department of the recipient on the outside. It was sealed with a small piece of twine wrapped about a round paper button. We spent.
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I've said several times publicly that this is one attack vector on Bitcoin. But, everyone, even non-Bitcoiner's, needs to fight this tooth and nail. Creating different rates for power consumption based on usage is a massive infringement on privacy and it sets a precedent for.
JUST IN: 🇺🇸 Biden admin proposes 30% tax on electricity used for #Bitcoin & crypto mining - NY Times. It’s “hindering the transition to a low-emission energy future,” the White House says.
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I’m fuming over the revelations during the SBF trial that they used customer funds to suppress the price of Bitcoin. This caused massive damage to so many people including the entire mining industry. As a miner who struggled to survive during that period, and knowing several.
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@upholdreality Great story. Have you heard the one President Biden tells about how the kids at pool liked to play with the hair on his legs? It’s kind of similar, right?.
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Just bought lunch @SteaknShake with Bitcoin. Worked perfectly. Easier than a credit card and as private as cash. This is the way!!!
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I didn't just use it, I helped develop it.
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Absolutely disgusting. @RogerMarshallMD - it is clear you didn't do any due diligence and went straight to, and exclusively to, Bitcoin's (crypto's) arch rivals to write a bill restricting them. Don't sponsor and put your name on bills regarding subject matter for which you.
BREAKING: Co-sponsor of Elizabeth Warren’s “#Bitcoin Ban Bill” admits the bankers helped Warren write the bill.
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@michael_saylor I own 3 mining companies and that is already our path. Properly capitalized we don’t need to sell and can borrow against our #Bitcoin if there are ever issues.
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@SawyerMerritt @elonmusk In other words Warren and Charlie have no interest in advancing humanity. Technological improvement is tough and therefore requires risk. They only wish to make money without taking risk. Over the years I have watched Warren and Charlie closely. At first I held them in the.
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Just smash bought more Bitcoin below $94K. Didn't think I'd have that chance again. Thank you to those of little faith. Amazing.
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Be careful in Nashville folks - it’s not safe here. Just was out for a run near Broadway. Had a guy throw a full bottle of beer at me and hit me in the leg. It soaked me but the bottle didn’t break til it hit the ground. I’m fine. Another guy was standing on a corner and had.
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Last June, I was in Czech for BTC Prague and was invited to a meeting with a Czech senator to discuss Bitcoin. His knowledge was limited but I came anyway very impressed by his inquistiveness, openness, forward thinking, and aggressive nature. To say he “got it” was an.
BREAKING: 🇨🇿 Czech National Bank governor says #Bitcoin “has zero correlation to bonds and is an interesting asset for a large portfolio.”. “Worth considering.” 🙌
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Something very dangerous is happening. This is slightly technical but the following is a very important thing for everyone that cares about Bitcoin to understand. I’ll keep it as simple as possible. Most mining pools use a payout method called FPPS. Hashers connected to that
it's surprisingly cheap to buy a whole block these days - only a 2.5x premium!.
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Gradually is over, suddenly is here. The ETF approval is part of this but it is the first of many events that mark the end of Bitcoin's Introductory period. Interestingly, this period lasted 15 years so the ETF approval will be like Bitcoin's quinceañera - the child is now a.
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I was in attendance for this launch event. In fact, I was right up front as Gateway was Microsoft's largest customer in this era and we'd worked hard with them on this launch. I know it looks awkward and cringeworthy on video, but I want everyone to know that watching it in.
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I’ve never seen anyone write so much and with such intensity (and vitriol) on a subject they don’t understand .
A Bitcoin Spot ETF: Say it Ain’t So Gary . For crypto: There's no inherent value. There's no cash flow. There's no yield. There’s no employees. There’s no management. There’s no balance sheet. There’s no product. There’s no service. There’s no history of operations. There’s
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While everyone in the West is watching the presidential election results, China is mining the shit out of Bitcoin.
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When I was a boy in the late 60s and early 70s, my grandpa would slip me money on the sly. $5 here and $10 there. He was never a rich man, and he had became an adult during the Great Depression. He never got to college nor did his children. But, I was his oldest grandchild and.
The big scam ….still says $100 even though it’s only 4 cents. In my lifetime the USD has lost 96% of its purchasing power. It’s lost 25% of its purchasing power since 2020. If you knew it was going to continue to go down what would you trade it for?
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@redhairshanks86 It is hard to be consistently a high performance person when alcohol is also a consistent part of your life.
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This is ridiculous. In a related development, I’ve just had the primary bank for my mining businesses inform me that they will no longer let me open accounts for new Bitcoin or mining related companies. This is bank that I’ve worked with since 2004 and have coursed $100M+.
My bank is blocking wire transfers to prevent me from buying more #Bitcoin . The Trump admin and new SEC chair can't come soon enough!
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Those days are long gone in the US because of the Triffin Dilemma. The Triffin Dilemma dictates that the country whose currency acts as the global reserve must be a net importer of goods and a net exporter of currency. Politicians can claim to have an answer to return US.
Average American family, Detroit, Michigan, 1954. All this on a 1 income: A Ford factory worker’s wages. What happened?
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@ryandbusse Those rockets are advancing society in a massive way. As an example, the Starlink system is bringing more data to more people than 1000 libraries ever could.
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@billmaher @billmaher.Your figures on Bitcoin mining and its electricity consumption and its impact on green energy are grossly wrong. I’m happy to talk privately or publicly with you or your staff to review the facts. FYI, I am not a crypto bro just spewing bullshit. I am formerly the.
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@Malcolm_fleX48 I am a western white man and I married a Filipina. Who you fall in love with shouldn’t have anything to do with race or culture. Why should a white man fall in love with just white women? In fact, it the differences and perspective of my wife’s culture that have helped me grow.
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I take that personally sir. You have no idea who I am, my morals, my values, and my contributions to society. The same for so many other accomplished people with big and generous hearts who consider themselves Bitcoiners. I know of not a single Bitcoiner that wishes ill upon.
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This is such a sad and ridiculous situation. There is no first sat of the halving block - there are no ordinal characteristic to sats because sats don't exist. Sat is merely a unit of measure of the value of a UTXO. There is also no way to distinguish new Bitcoin issuance from.
JUST IN: The first satoshi of #Bitcoin's fourth halving block just auctioned off for 33.3 #BTC worth over $2.1 million 🤯
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When Bitcoin drops to $62K it means miners enter limbo and the first circle of Dante's Hell. At $61K they descend another level into Hell, the heat turns up and profuse sweating commences. At $60K they descent to level three and mashing of teeth occurs. At $59K you will.
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@lisa_liberal Then move to a country that practices a straight democratic process. America is what it is because it isn't a traditional democracy. We stop being the United States the moment we lose the electoral college.
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@EricTrump Stay in your lane sir - horrible time to add $ETH. It is seriously flawed and getting worse. Bitcoin is it.
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Just so that there is not any confusion, I wish to publicly declare that @BarefootMining will not ever direct even a single electron toward the mining of Kaspa.
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@stoolpresidente Because at the moment many people don't understand it and trade it like a stock/risk-on asset. Also, Bitcoin is the world's most liquid asset with 24x7 active trading window. So, Bitcoin has a tendency to track the market initially as the market changes direction. But, once.
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I've seen several posts on the halving and people saying that we'll go from 900 bitcoin produced per day to 450 at the halving. This seems logical because most people think there are 144 blocks per day and each block has 6.25 bitcoin so 144 x 6.25 = 900. But, it doesn't.
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A fireball has been unleashed in Europe.
The new Italian Prime Minister, Georgia Meloni, telling the world what she really thinks of French President Macron. The next EU meeting will be interesting. 🔈 .
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It is awfully hypocritical for a company that has spent 180 years chewing up forests to attack Bitcoin. Especially when the @nytimes produces something that ends up in a waste bin the next day and the content is sometimes of questionable truth and integrity. Ironic, since.
@NYTimesUp @nytimes @ben_mckenzie @GretaThunberg @SenWarren Imagine burning the earth alive just to sell a few papers. #changetheprint #StopThePresses
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@DoctorHenryCT Because those folks are capped on the benefit they will receive as well. Putting in significantly more than you can ever draw out is not fair.
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@BretWeinstein This is book written from the perspective of someone who lost. He lost because his vision was flawed in that the base layer of Bitcoin is not meant to be a payment layer - it is a final settlement layer. Roger believes otherwise but it is a minority opinion and it lacks long.
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I am an old engineer and this video gives insight into mindset common amongst engineers and, it reveals the weakness of the Ethereum and sh!tcoin world. It also reveals the true brilliance of Satoshi and Bitcoin. Engineers sometimes live in a technical bubble and many struggle.
“…One possible scenario. is that we lose decentralization with restaking, but it doesn't actually matter. And maybe decentralization is only a bootstrapping mechanism to gain credible neutrality…Maybe we only need decentralization for the memes because it kind of looks good…”
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As horrible as this looks on the surface, it is even worse when you think it through. Currently, nobody must report their net worth to the government, a 25% tax on unrealized gains also means we all will be required to report our net worth (and likely list our assets). This type.
JUST IN: 🇺🇸 Kamala Harris backs President Biden's 44.6% capital gains tax proposal, the highest in history. The proposal includes a 25% tax on unrealized gains for high-net-worth individuals.
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I cannot stress enough how precarious this situation is. If you have control of hash rate please direct it to one the smaller pools (sub-10%). It'd be great if you gave Ocean a try and use Datum but help in any way you can.
Sheesh almost 41%, getting worse every time I look. Trump isn't even in office yet. Looks pretty soon all the Bitcoins will be MadeInTheUSA™. Bitcoiners in 2015 would be losing their minds over this. (They did, and collapsed when they all left).
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A big sign of progress. I was recently asked by Financial Advisor magazine to write their first article on the topic of Bitcoin and the myths around it. It was an honor to write this article and a massive sign that Bitcoin cannot be ignored. This.
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I am furious with this statement. Calling Bitcoin miners as an industry snake oil salesman is insulting and incorrect. My company and many others in the industry take our role very seriously and work every day to make Bitcoin stronger and protect it. We also do it by running.
Today, we launch a war against bitcoin miners, an industry of snake oil salesmen that are incinerating both investor capital and the environment and should be banished from America much like the Chinese RTO frauds that we helped kick out a decade ago (1/10).
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I’m speechless. What a night:.
⛏️ New Ocean Block Mined ⛏️. Block Height: 873305.Fees: 0.071 BTC.Subsidy + Fees: 3.196 BTC.Difficulty: 103.92T.
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@lopp @Excellion That is a bad, bad look. If guys like Samson and I (or you) can't even weigh-in with an opinion to be considered, then the system is seriously, seriously broken. I disagree with you on this issue here but respect you enough based on your history to say your opinion should.
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For those who are not aware, I am a board member, investor, and user of OCEAN's pool. Over the past couple of weeks I have been asked publicly several times to comment on OCEAN's initial template choice and whether it was censorship, filtering, or provided the maximum economic.
A decentralized #Bitcoin is a Bitcoin where miners decide what goes in blocks, not pools. OCEAN's ultimate goal is to make this a reality, and today we take one step closer to our vision of decentralized block template construction. Available immediately, OCEAN is offering
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@MrAndyNgo @lacrosse_al @TPostMillennial In other words, Love, in his role a “security officer”, is guilty of the exact brutality he claims to be protesting.
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@Excellion @BitcoinKnots Extremely disappointing - especially since so many of us from all sides are headed to Austin right now - why not wait till everyone has had a chance to speak directly. This was rushed to begin with and now it feels even more so. This is going to backfire.
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The turbulence that has arisen out of the OP_RETURN PR has taken a lot of energy from the whole Bitcoin community over the past several days. To a certain degree that is unfortunate but on the other hand I believe it is good because it brings to the forefront some fundamental.
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My latest article for @BitcoinMagazine just hit. Its about an emerging vulnerability in the #Bitcoin mining network as it trends toward large, grid-based sites. There's still time to prevent the issue but the time to act is now.
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@paulvigna @Danainhawaii @brucefenton I want to be kind so I will just say that you’ve made an epic mistake. I highly recommend you stop and think hard about what you’ve written - it’s grossly off.
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The current concentration of hash rate and block template creation needs to reverse course immediately. Not only is the ease of implementing censorship at an all-time modern high, but any activity on the base layer should NOT be considered confirmed for at least a few days. The.
Foundry mines 9 blocks in a row!. This is why we aim to get hashpower in EVERY home.
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The odds were about 2500:1 of this happening but there it is! Pretty cool.
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Luke is correct. This halving marks the end of Bitcoin’s Introductory Period. The subsidy will have dropped to just 6% of the original level and adoption has grown to a point such that Bitcoin the network and bitcoin the asset are showing the first true signs of their scarcity.
You do realize that this is the good old days, right?…. In 20 years the idea of a bunch of wholecoiners or whole-UTXOers on the same platform at the same time sharing memes and vibes will be legend. This is the beginning of the end of an era.
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If you bought Bitcoin as a saving technology and keep your time horizon long then this drawdown is not worth even an ounce of worry. Just keep on keepin’ on. If you have anything other than Bitcoin, my condolences.
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@Epsilon6_ The sentimental value is worth of having something from your grandfather far outweighs anything else. And, it symbolizes his struggle and his resistance at the time. When the day comes, give them to your kids or grandkids and use it to show them that this battle for freedom has.
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@mattkratter @USTreasury The Ethereum Classic guys must be laughing their asses off right now.
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@RussellOkung Not about the Fed, not about how banks work, not about how money works, not what inflation really is, not what happened at Bretton Woods, not how income tax came to be, not the intentions behind social security, not how 401Ks feed Wall Street, not about the Cantillion Effect,. .
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In case you haven’t checked, Bitcoin fees are roaring again. Do you have your house in order? Have you consolidated UTXOs? Have you moved your Bitcoin to its long term storage location? No? I’m telling you to do it now. Block space is absolutely scarce - just like bitcoin
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Please folks, don’t scramble to own a sat from this block or any other. You are wasting your money. Go buy some Bitcoin instead. There is no such thing as the first sat or last sat or Epic sat in a block. There is no way to isolate a sat. @FoundryServices this is.
BREAKING: @FoundryServices will 'isolate' the #Bitcoin Halving 'Epic Sat' and redistribute profits to its pool clients. Every mining company is now an Ordinals company.
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Ocean is on an absolutely blistering run of good luck. We just hit our fourth block in less than 24 hours and 13th of the month. This is on the heals of a record breaking month in October. Amazing. 🙏. @ocean_mining.
⛏️ New Ocean Block Mined ⛏️. Block Height: 869645.Fees: 0.181 BTC.Subsidy + Fees: 3.306 BTC.Difficulty: 101.65T.
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This makes 30 blocks for Ocean in the month of April so the pool members are enjoying an average of over a block a day. Pretty cool shit.
⛏️ New Ocean Block Mined ⛏️. Block Height: 893976.Fees: 0.048 BTC.Subsidy + Fees: 3.173 BTC.Difficulty: 123.23T.
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If in the past you’ve wondered why I (and Barefoot Mining) have been so closely aligned with @ocean_mining, it will become blatantly apparent very, very soon. Amazing and exciting things are close at hand.
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Ocean is on a heater! What a run! 10 blocks in October and we are only half-way through the month.
⛏️ New Ocean Block Mined ⛏️. Block Height: 865820.Fees: 0.103 BTC.Subsidy + Fees: 3.228 BTC.Difficulty: 92.05T.
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One of the great pleasures of mining with Ocean is knowing when your machine has mined a block, so I am thrilled to announce that this one, block 854580, was solved by a Barefoot Mining system.
⛏️ New Ocean Block Mined ⛏️. Block Height: 854580.Fees: 0.037 BTC.Subsidy + Fees: 3.162 BTC.Difficulty: 82.05T.
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It is very common for people in the mining industry to volunteer how much mining capacity/energy usage they have. I stopped doing this a few years ago and, in fact, I no longer answer the question - even in private. I realized that from that simple piece of data so much.
If you are an operator in the bitcoin mining industry in the US it is imperative that you ignore this survey and tell the EIA, the Department of Energy, and the current administration to fuck off. Here's what they have in store for you.
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Not good.
Breaking: Foundry USA hits 7 blocks in a row!. This is 70 minutes of pure Bitcoin block control. Not good!.
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A beautiful start to the day. Block #871746 came through one of the @BarefootMining Datum Servers courtesy of @ocean_mining. This is a good time for a public service announcement: If your rigs aren’t hashing block templates that you created, then you aren’t really mining.
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@Excellion @lopp Yes, and plenty of people, including me, feel reasonable objections/concerns have been raised.
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Proud to say that this block was found by a machine from the @BarefootMining family. One of the very cool aspects of having servers connected to @ocean_mining is the honor of knowing that one of your machines made this contribution.
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Ocean is on an absolute tear winning blocks. Hash rate is at all-time high and number of pool participants is at an all-time high as well. 🔥.
⛏️ New Ocean Block Mined ⛏️. Block Height: 867301.Fees: 0.06 BTC.Subsidy + Fees: 3.185 BTC.Difficulty: 95.67T.
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If you think you are a miner but don't create your own templates, think again, you're not really part of the Bitcoin network - you're just a mercenary hasher. @BarefootMining we were honored to be the first company to be able to create our templates with Datum. This was.
Templates.
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For those not close to Bitcoin Core and the development community, there is a tremendous amount of discord right now within various factions over some proposed changes. Personally, I am opposed to the changes being proposed/pushed but I am even more disturbed and concerned by the.
@Truthcoin @peterktodd Some life advice from an old man. your opinions will carry more weight and be considered more openly if you refrain from petty and immature personal attacks, and from degrading comments on organizations providing important infrastructure alternatives.
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@AJDelgado13 @kalihollowayftw I was a C-Suite executive for a Fortune 200 company. After looking at my organization's hiring for an extended period of time I found that on the whole employees from Ivy League schools underperformed those from traditional public universities. The reason was very clear - while.
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@gladstein @realDonaldTrump @EricTrump @DavidSacks @davidsacks47 . You could not possibly pick a worse person serve on this council.
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Larry’s a good friend and Bitcoiner. Someone seems to have hacked his account. Pay no attention to this. @LawrenceLepard . @jameslavish @FossGregfoss @JeffBooth @PrestonPysh pls retweet this as well to help us protect Larry.
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Another Ocean block and I'm excited to say that it was a @BarefootMining machine that found it. It is always a thrill when this happens.
⛏️ New Ocean Block Mined ⛏️. Block Height: 856795.Fees: 0.03 BTC.Subsidy + Fees: 3.155 BTC.Difficulty: 90.67T.
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@miketwenty1 Michael, I never said I could stop it but what I can do explain to people that it is completely arbitrary, and that many of the principles upon which it is founded are not consistent with the mechanisms of Bitcoin or its terminology. I speak with Bitcoiners all over the world.
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This is a nice way to end the day and close the month. For the record, this block was mined through a node running Knots and a Datum server. This makes 37 blocks for Ocean in the month of April (US Time).
⛏️ New Ocean Block Mined ⛏️. Block Height: 894683.Fees: 0.014 BTC.Subsidy + Fees: 3.139 BTC.Difficulty: 123.23T.Solver: Barefoot Mining.
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Going forward, the cheapest and most efficient mining operations will not be on-grid. They will be small to medium-scale operations where the miner produces their own energy and/or they have a means to utilize the heat to serve alternative needs. Too many folks focus on the.
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The Bitcoin Mempool backlog is now very close to 550K transactions. The past few weeks the backlog has consistently hovered in the all-time high range of 600K. Hash rate has been ripping and a few extra blocks per day are being produced but the network can't keep up. A
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@Vivek4real_ @billmaher your figures on Bitcoin mining and its electricity consumption and its impact on green energy are grossly wrong. I’m happy to talk privately or publicly with you or your staff to review the facts.
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I'm pleased to announce that Barefoot Mining and Bitcoin Opportunity Fund have partnered to create a new Bitcoin mining company called West Bay Mining. The company is based in North Sioux City, SD and has been in operation since early June. Barefoot Mining is thrilled to be the
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Barefoot Mining and Ocean combined for two blocks overnight - this one and another 13 blocks earlier at 896059. Amazingly they were both mined from systems in the same container of only 300 systems, and that same container also mined a block on May 1st. The units are all S19K
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@theRaiderAL I hope you realize that roughly half of the country supports Trump, the NFL is no different. Lighten up Francis. Just watch your team and have fun.
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@NobodyCaribou @nayibbukele Let us know if your friend needs any assistance, financial or otherwise, in seeking refuge in El Salvador. I am happy to help. @MilenaMayorga and @mardoqueoTochez might be able to help as well. They are from the El Salvadorian embassy to the US and are wonderful people.
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@IMFNews @RhodaWeeksBrown #Bitcoin is the most public, most transparent and most incorruptible currency ever created. Stop misleading people with your propaganda.
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The stroke of a pen from a weak man cannot absolve anyone…the universe knows and it always extracts its penance.
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@dotkrueger I remember in 1971 how furious my grandfather was when Nixon put in the last nail in the coffin of sound money. He used to show me gold certificates that he still held and express how disappointed he was that money no longer worked that way. He was born in 1917 and felt the.
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I just realized Barefoot has enough hash power to overpower the BSV network many, many times over. According to it takes only about 26 PH to get to 51% on BSV. Because it's morally wrong I'd never do it, but if anyone needed any additional evidence that.
Bro hit a BSV block lol.
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The block subsidy is essentially over. Many think the subsidy was for miners but that is not correct, it was for everyone so they could get used to using the base layer. For fifteen years, block space has been virtually free and instantly accessible to all to encourage.
This has always been the case. Satoshi understood this. Hal understood this. The way we have become accustomed to using the #bitcoin base-layer over the last 10 years is not scalable. It never was. Complaining about this is strange to me - it suggests that these people never.
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