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| August 23, 2019

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Unlikely Archives -

‘Deep state’ unlikely in DC but ‘permanent bureaucracy’ probably exists, Brit Hume says

May 29, 2019 |

A nefarious “deep state” likely doesn’t really exist in Washington but a “permanent bureaucracy” probably does — and that can be a good thing, Fox News senior political analyst Brit Hume said Tuesday.
FOX News

Putin says U.S. guarantees unlikely to prompt North Korea to de-nuclearize

April 27, 2019 |

Putin says U.S. guarantees unlikely to prompt North Korea to de-nuclearizePutin and Kim held a day of talks on an island off the Russian Pacific city of Vladivostok two months after Kim’s summit with U.S. President Donald Trump ended in disagreement, cooling hopes of a breakthrough in the decades-old nuclear row. The talks between Putin and Kim did not appear to have yielded any major breakthrough.



Yahoo News – Latest News & Headlines

TMZ

R. Kelly’s Lawyer Says Jussie Smollett Dismissal Makes Plea Bargain Unlikely

April 1, 2019 |

Jussie Smollett getting off scot-free is bad news for R. Kelly, because prosecutors might be itching for a big win … so worries the singer’s lawyer. Steven Greenberg tells TMZ … the outcome of Jussie’s criminal case in Cook County — in which…

TMZ.com

Suspect Offers Unlikely Story on How 11-Year-Old Had His Baby

January 17, 2019 |

A 33-year-old man accused of raping and impregnating an 11-year-old girl claims it was all the work of a piece of cloth. Robert Cronin of Niskayuna, NY, pleaded not guilty to predatory sexual assault against a child on Wednesday—the same day he told WTEN ‘s Anya Tucker that the…
Newser

Ex-Nissan chief Ghosn charged with breach of trust; release on bail unlikely

January 11, 2019 |

Nissan’s ex-Chairman Carlos Ghosn was charged Friday with breach of trust, according to the Tokyo District Court, making the star executive’s release unlikely for months.

Ghosn, arrested Nov. 19, was earlier charged with falsifying financial reports in underreporting his income by about 5 billion…


L.A. Times – Business

Chatter Report: Pompliano Praises Bitcoin Performance, Antonopoulos Says Death Spiral ‘Unlikely’

December 5, 2018 |

Anthony Pompliano: Bitcoin "Best Performing Asset”, Andreas Antonopoulos: Bitcoin Death Spiral “Unlikely”

In today’s Chatter Report, we explore the different ways crypto influencers have been responding to the low prices of 2018. Some are unfazed like Anthony Pompliano, who still believes that bitcoin is the best performing asset. Others are reassuring like Andreas Antonopoulos, who has been busy addressing concerns about bitcoin being in a death spiral. The rest are pensive like James McAvity, who has been theorizing about which miners are holding their coins rather than selling them.

Also Read: Paxful Completes Second School in Rwanda #BuiltWithBitcoin

Bitcoin is the ‘Best Performing Asset’

Anthony Pompliano, founder of Morgan Creek Digital, sparked a fervent discussion on Twitter when he noted that the S&P had almost lost $ 755 billion in a single day. Pompliano was putting losses in perspective for cryptocurrency investors, as public equity investors lost more money in a single day than crypto investors did for all of 2018.

Crypto Twitter quickly fired back, as former Wall Street trader John Todaro pointed out the unfair nature of comparing two markets that have different capitalizations. Todaro expanded more on the misleading nature of Pompliano’s tweet, arguing that they should be comparing percentage gains/losses and not raw figures.

Another commenter, Alamentarius, argued that it was unfair to compare the “equity value of every public company” with a “speculative project that turned into a bubble.”

Unfazed, Pompliano defended his initial claims, citing the historical financial performance of bitcoin compared to the S&P. He then boldly described bitcoin as the “best performing asset” on the market.

Andreas Antonopoulos on Bitcoin Death Spirals

With bitcoin prices falling day by day, the ecosystem has been expressing concern about a potential death spiral. To address these concerns, “Mastering Bitcoin” author Andreas Antonopoulos put out a Youtube video explaining death spirals and why he believes they are unlikely scenarios.

Antonopoulos explained that death spirals are triggered by a combination of economic factors crashing the bitcoin price and/or governments shutting down or outlawing mining. This drives down the price of bitcoin, so miners start turning off their mining equipment. The result is a severe drop in mining hash power, or 50 percent in this hypothetical scenario. As mining power falls by half, blocks start to come up every 20 minutes instead of every 10 minutes.

Since bitcoin mining difficulty adjustments are calculated every 2,016 blocks, it now takes four weeks for the difficulty to change instead of two weeks. This slows the network down further, which could lead miners to decide that they aren’t making enough profit. As a result, more and more miners would then decide to shut off their equipment, leading to a vicious downward cycle known as the bitcoin “death spiral.”

After explaining the death spiral, Antonopoulos claimed it is unlikely to happen because miners have a much “long[er]-term perspective.” Since investing in mining equipment requires a huge up-front cost and electricity is purchased on long-term plans, most miners won’t stop mining, as they will assume that profitability will return within a few months.

Do Miners Hold or Sell Their Bitcoin?

Other bitcoiners also have been theorizing about what miners might do with their bitcoin in an extended bear market. As commenter James McAvity noted, the circumstances surrounding each particular mining operation will determine whether miners sell their bitcoins or hold on to them.

McAvity explained that miners that can generate ancillary free power and businesses that are struggling to survive are the ones that are more likely to sell their bitcoins immediately after mining them. By contrast, miners that hold their bitcoins are those that have hedged with futures and options when prices were higher. They could also be smaller operations that have free power or they could be money launderers trying to clean cash by turning it into bitcoin. Alternatively, they could be from high-inflation countries like Venezuela.

What do you think of bitcoin’s performance in 2018? Is it still the best performing asset? What about the likelihood of a death spiral? Do you think miners sell their bitcoins immediately or keep them? Let us know in the comments below.


Images courtesy of Shutterstock.


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The post Chatter Report: Pompliano Praises Bitcoin Performance, Antonopoulos Says Death Spiral ‘Unlikely’ appeared first on Bitcoin News.

Bitcoin News

Duterte Makes Unlikely Joke About Drug Use

December 4, 2018 |

President Rodrigo Duterte has waged a controversially bloody war on drug dealers in the Philippines, but that didn’t stop the leader from cracking wise Monday about his own use of illicit substances. Per Reuters , Duterte said in a speech that he used marijuana to stay awake at the Association of…
Newser

CNN

Why claim Khashoggi’s Apple Watch recorded alleged murder is unlikely

October 13, 2018 |

Experts have dismissed claims that a recording of the alleged killing of Saudi journalist Jamal Khashoggi may have been transmitted using his Apple Watch.
CNN.com – RSS Channel – World

Companies Turn to an Unlikely Place for Their Next CEO

October 8, 2018 |

GE’s choice to name board member Larry Culp as CEO has led some executives to wonder whether they would be better off seeking out long-retired executives as directors.
WSJ.com: US Business

China’s Shrinking Trade Surplus Unlikely to Impress Trump

July 30, 2018 |

For years, China has sold much more to the world than it has bought. Now, that imbalance is shrinking, helping Chinese leadership argue it no longer pursues a mercantilist policy. But President Trump, who focuses on the U.S.’s ever-widening trade deficit with China, is unlikely to be impressed.
WSJ.com: What’s News Europe