UPSGUY

Venezuelan #btc miner.

[UPSGUY @upsguyXBT]

Beginnings are such delicate times 🇻🇪

[UPSGUY @upsguyXBT]

El operativo militar en Bolívar

[UPSGUY @upsguyXBT]

@defyneric @FlexSuperApp Do you Support c corps with foreign ubos ?

[UPSGUY @upsguyXBT]

Miraflores worldwide LLC 😎

[Alejandro Entrambasaguas @entrammbasaguas]

#EXCLUSIVA La red de Zapatero montó una 'offshore' en Panamá y la Policía rastrea transferencias con el expresidente. La sociedad, llamada Miraflores Worldwide, está a nombre de testaferros y coincide con lo que Aldama dijo de que se cobraron 10 millones. https://t.co/NuQd4sYywu

[UPSGUY @upsguyXBT]

@CryptoALH @Heatcore_tech MX ?

[UPSGUY @upsguyXBT]

@0xDonPepe @Namsopyong De donde salió está pasta ? Xd

[UPSGUY @upsguyXBT]

This is great for the miners still in the game. Industry economics will be much stronger going forward without massive pools of capital driving up equipment costs quarter-over-quarter and ruining margins for the rest of us.

[Charles Edwards @caprioleio]

This is a wild and concerning trend for Bitcoin.
This is far worse than I had realized.

This is a list of all the major public Bitcoin miners.
ALL have made statements to pivot to AI.
ALL are targeting major shares of revenue from AI from here, not Bitcoin.

On average current Bitcoin revenue is expected to drop from 90% to just 30% in the next 2-3 years!

Do you see a pattern?

The stocks doing the best in recent years all jumped into AI big time.

Those with 80%+ AI share of revenue targets saw their stocks climb up over 500% on average. Those targeting <60% AI revenue saw 1/10th the growth, with many having negative 2 year returns.

The message is clear.

If these numbers are even half accurate, and they are based on direct company statements, the energy and commitment to Bitcoin is under significant threat over the next 2-3 years. All while Quantum computing is taking off and poses an existential threat to Bitcoin unless we change the code.

Many of these miners are not even planning to upgrade or renew Bitcoin mining hardware at all, simply running out lifespan of the existing and reinvesting only in AI.

The market has been voting with its feet.

Now the miners are voting with their feet.

Just as Bitcoin is about to approach its biggest ever threat in the coming years, the backbone of its security is leaving the industry.

Bitcoin used to be famed for having the biggest computing network in the world. It's now collapsing into AI at record pace.

[UPSGUY @upsguyXBT]

@brandon @meow cant open the account as a C-corp with foreign (EU) ubos.

[John Arnold @johnarnold]

Hard to overstate the role shale gas has played in lowering inflation and spurring American industry. Were we a net importer today as forecast in the 2000s, domestic nat gas &amp; power would be at multiples of current pricing, serving as a huge tax on individuals and companies.
1/5

[UPSGUY @upsguyXBT]

El estado es un accionista más , no son un chiringuito como PDVSA que debe ser liquidada o privatizada en un proceso competitivo y transparente.

[Ingerzon Freites @indafrero]

Algunas Empresas estatales Europeas.
Noruega: Equinor, Statkraft, Telenor
Francia: EDF, SNCF, Safran,
Italia: Eni, Enel, Leonardo
Alemania: Deutsche Bahn, KfW, Volkswagen (20% Estatal)
Filandia: Neste, Fortum
Paises Bajos: Gasunie, NS,
UK: British Business Bank, NS&amp;I

[UPSGUY @upsguyXBT]

Completely idiotic take.

[Jose Ignacio Hernández G. @ignandez]

Recomiendo leer a @ricardo_hausman en @abc_es: el principal problema de América Latina “es su incapacidad para absorber, adaptar y desarrollar tecnología”.

Parte del problema son las instituciones jurídicas: no están diseñadas para la innovación.

https://t.co/4BUkFenhIf

[UPSGUY @upsguyXBT]

@ChurchillWw @janrosenow @politico Yes. Technical restrictions and other services are ranging eur10-40/MWh a significant part of the overall final invoice of consumers.

[UPSGUY @upsguyXBT]

@implausibleblog @TheSolarShed Yeah... I want to see technical restrictions (already @ EUR20/MWh) this spring with current natty price. Wholesale electricity price might be low but delivered electricity price is not competitive.

[UPSGUY @upsguyXBT]

@Axel_Mnvn Si compras con buen timing minas mientras la dificultad está estancada y se aprecia tu hardware + depreciación fiscal de los mismos. Sinceramente para 99% de las personas es mejor comprar BTC necesitas demasiado Edge para hacer dinero minando y sobrevivir.

[UPSGUY @upsguyXBT]

@elsultanbitcoin @CriptoNoticias Asumiendo que cambian las regulaciones -el otro gran problema es el capex de generación con el gas venezolano (mayoritariamente sour gas)+ no se sabe cómo será el reto logístico de operar una mina en un campo venezolano. No es un proyecto extremadamente atractivo.

[UPSGUY @upsguyXBT]

📞

[Bloomberg @business]

Roughly 13 billion cubic meters of Venezuela’s natural gas is flared, vented or leaked into the atmosphere every year, losing about $1.4 billion of potential revenue https://t.co/yTQLkHOwGy

[UPSGUY @upsguyXBT]

Que gran día. 🇻🇪

[UPSGUY @upsguyXBT]

@criptobastardo Xd

[UPSGUY @upsguyXBT]

They stole the mining equipment for their own gain. There is no "venezuelan Bitcoin treasury".

[Marty Bent @MartyBent]

Under Maduro the Venezuelan government seized and controlled bitcoin mining operations starting in 2017. Whether or not they were able to efficiently run and upgrade those operations after that is hard to tell.

Though, I think it’s safe to say they have a material amount of bitcoin. Certainly a treasure if the US government plans to claim it as their own.

What’s more interesting to me though is the possibility of Bitcoin mining being used as a mechanism to quickly revitalize the Venezuelan energy sector. Desperately needed and I know for a fact that there are plenty of Venezuelans who are privy to this that could make this happen.

Bitcoin as a tool for the acceleration of Western Hemisphere stabilization is very under priced right now.

[UPSGUY @upsguyXBT]

There is a 0.01% chance this is real. A kleptocracy doesn't save money, guys.

[Simon Dixon @SimonDixonTwitt]

🇻🇪 On the rumour of the large Venezuelan Bitcoin reserve I’ve not seen anything credible yet?

Let me know if you find any decent sources.

Don’t trust

Verify.

[UPSGUY @upsguyXBT]

@criptobastardo @rawrau_ @CepnikMaciej @CCSBitcoinExp Ex Chavistas not allowed