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SVTPerformance's Chain of Restaurants
Road Side Pub
BITCOIN
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<blockquote data-quote="cobracide" data-source="post: 16694366" data-attributes="member: 4644"><p>Actually it was more than just one tweet.</p><p></p><ul> <li data-xf-list-type="ul">One of the biggest bits of news affecting crypto today <a href="https://www.cnbc.com/2021/11/16/bitcoin-btc-drops-toward-60000-as-major-cryptocurrencies-plunge.html" target="_blank">comes out of China</a>.</li> <li data-xf-list-type="ul">The National Development and Reform Commission (NDRC) announced today that it plans to continue its restrictions on crypto.</li> <li data-xf-list-type="ul">That includes efforts to weed out crypto mining companies in the country.</li> <li data-xf-list-type="ul">One of the biggest issues listed is the energy consumption that goes into mining cryptocurrency.</li> <li data-xf-list-type="ul">This is at odds with China’s plan to be carbon neutral by the time 2060 rolls around.</li> <li data-xf-list-type="ul">Energy concerns also have Kazakhstan <a href="https://www.reuters.com/business/energy/crypto-boom-strains-kazakhstans-coal-powered-energy-grid-2021-11-10/" target="_blank">considering additional measures against crypto</a>.</li> <li data-xf-list-type="ul">This could include additional taxes and regulations on crypto miners.</li> <li data-xf-list-type="ul">That comes as the country deals with the extra stress that crypto mining is putting on its energy grid. </li> <li data-xf-list-type="ul">While staying on the subject of infrastructure, the <a href="https://finance.yahoo.com/news/biden-infrastructure-bill-hands-crypto-231651953.html" target="_blank">new bill signed into law by President Joe Biden</a> is also affecting crypto today.</li> <li data-xf-list-type="ul">This law includes new definitions for “broker” that could see extra taxes for crypto traders.</li> <li data-xf-list-type="ul">That’s part of an effort by the U.S. Government to raise additional revenue by taxing crypto.</li> <li data-xf-list-type="ul">Adding to this extra stress on crypto are <a href="https://www.coindesk.com/business/2021/11/16/twitter-cfo-says-buying-crypto-assets-doesnt-make-sense-right-now-report/" target="_blank">recent statements</a> from <strong>Twitter</strong> (NYSE:<a href="https://investorplace.com/stock-quotes/twtr-stock-quote/" target="_blank"><strong>TWTR</strong></a>) CFO Ned Segal.</li> <li data-xf-list-type="ul">He says that investing in crypto “doesn’t make sense right now.”</li> <li data-xf-list-type="ul">That’s due to the volatile nature of crypto and Twitter typically prefers to make more stable investments.</li> <li data-xf-list-type="ul">This cryptocurrency news is surprising considering Twitter founder and CEO Jack Dorsey is a fan of crypto.</li> <li data-xf-list-type="ul">All of this news resulted in <strong>Bitcoin</strong> (CCC:<a href="https://investorplace.com/stock-quotes/btc-usd-stock-quote/" target="_blank"><strong>BTC-USD</strong></a>) briefly dipping below $60,000 this morning.</li> <li data-xf-list-type="ul">It’s worth noting that when BTC rises or falls, other cryptos typically move in sympathy with it.</li> </ul></blockquote><p></p>
[QUOTE="cobracide, post: 16694366, member: 4644"] Actually it was more than just one tweet. [LIST] [*]One of the biggest bits of news affecting crypto today [URL='https://www.cnbc.com/2021/11/16/bitcoin-btc-drops-toward-60000-as-major-cryptocurrencies-plunge.html']comes out of China[/URL]. [*]The National Development and Reform Commission (NDRC) announced today that it plans to continue its restrictions on crypto. [*]That includes efforts to weed out crypto mining companies in the country. [*]One of the biggest issues listed is the energy consumption that goes into mining cryptocurrency. [*]This is at odds with China’s plan to be carbon neutral by the time 2060 rolls around. [*]Energy concerns also have Kazakhstan [URL='https://www.reuters.com/business/energy/crypto-boom-strains-kazakhstans-coal-powered-energy-grid-2021-11-10/']considering additional measures against crypto[/URL]. [*]This could include additional taxes and regulations on crypto miners. [*]That comes as the country deals with the extra stress that crypto mining is putting on its energy grid. [*]While staying on the subject of infrastructure, the [URL='https://finance.yahoo.com/news/biden-infrastructure-bill-hands-crypto-231651953.html']new bill signed into law by President Joe Biden[/URL] is also affecting crypto today. [*]This law includes new definitions for “broker” that could see extra taxes for crypto traders. [*]That’s part of an effort by the U.S. Government to raise additional revenue by taxing crypto. [*]Adding to this extra stress on crypto are [URL='https://www.coindesk.com/business/2021/11/16/twitter-cfo-says-buying-crypto-assets-doesnt-make-sense-right-now-report/']recent statements[/URL] from [B]Twitter[/B] (NYSE:[URL='https://investorplace.com/stock-quotes/twtr-stock-quote/'][B]TWTR[/B][/URL]) CFO Ned Segal. [*]He says that investing in crypto “doesn’t make sense right now.” [*]That’s due to the volatile nature of crypto and Twitter typically prefers to make more stable investments. [*]This cryptocurrency news is surprising considering Twitter founder and CEO Jack Dorsey is a fan of crypto. [*]All of this news resulted in [B]Bitcoin[/B] (CCC:[URL='https://investorplace.com/stock-quotes/btc-usd-stock-quote/'][B]BTC-USD[/B][/URL]) briefly dipping below $60,000 this morning. [*]It’s worth noting that when BTC rises or falls, other cryptos typically move in sympathy with it. [/LIST] [/QUOTE]
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