Cryptonauts, who loves ya? We love you!! You & your wiley cipherpunk ways. And the all-encompassing Publish0x!!!
Crypto fabric to change in today's FT:
TLDR: Once again, the same story, same analysts, miners are dying !Therefore crypto shall perish, inshallah haibibi cries the FT AGAIN!! Man we thought yesterday was a slog in the pink lady, now it's GROUND HOG DAY. Again!!
Various miners faltered, we don't mind at all. Commercial mining was always kinda scammy trying to grab crypt adjacent stock money, wasn't it? Really, BTC mining is all about getting cheap power somewhere in the world. Everything else is a last man standing game for economies of scale, who CARES SO BORED!!!
But then, a bit of crypto spin hate comes through from the FT: Miners are just the NEXT IN LINE to feel the impact of the crash the FT gasps. What?
OK, we all know the FT pays a flat roof pub meat prize regularly for the best anti-crypto narrative efforts. But THIS, this is the first time it hits like the authors are getting paid by the word!!!
Copypasta bingo, no, no. noo.... same old Dan from wedbush is all long hard crypto winter, chain reaction in the ecosystem, Shussh!!! Please!! Look at the prices in GBP ar ar ar!!
OK, this is what the problem is - this article talks about price action hurting miners maybe nine times. Whatever. THEN, it explains what bitcoin mining is THREE TIMES!! Tony Parshole from Viz comes to mind ar ar ar ar !! We slog on, only to hit another sloppy wet spin job !! The FT spits doom (Argo "admitted" costs!!!) Energy blackouts will crush more miners!! Riot blockchain had to scale back cuz demand for energy!!
LIE!!! WE WANNA CORRECTION!!! Riot SAVED the grid in Texas!! They funded out a huge capacity expansion with an agreed option to turn off!! THIS year, when the worst peaks of all hit, the grid was SAVED by RIot's deal!!
Moving on!! the Justin Sun story hits dead trees, better pic of the man:
What else?? Hong Kong threw a big party to open for biz!! Then they trapped execs who came but caught the coof! Come for a day, stay for a week! or don't come....
Thatsss all folks, that's our crypto news from our haters!!! We love ya, we gotta sleep to escape the repeating nightmare that is the fT's crypto coverage. Wish us luck we're gonna need it!! Please when we wake up let it not be groundhog day again
Peace out, love
please refer a friend!!