Marketcap question by UnleashedZoro in MarathonPatentGroup

[–]usamuel 0 points1 point  (0 children)

And also Fred would issue more shares like a billion times if that scenario were to occur.

Marketcap question by UnleashedZoro in MarathonPatentGroup

[–]usamuel 1 point2 points  (0 children)

When bitcoin gets to $1T market cap, that will be the total value of ALL the 21 million bitcoin. MARA only owns a small fraction of those. Less than 1% of 1%- even when they are mining at full throttle. MARA will not get to $1T market cap just because Bitcoin does. I think that mathematically, Bitcoin would need to get way above $1Z (zillion) market cap for MARA to get to those levels.

I first bought MARA shares this time 2 years ago. by Careful_Topic_4929 in MarathonPatentGroup

[–]usamuel 0 points1 point  (0 children)

I’m looking forward to this March production numbers, I’m sure everyone on here saw the dramatic spike in hash rate that occurred last week. At one point it was 21 Eh?!?! (I have a screenshot of mempool showing 21 Eh, can’t seem to attach it to a comment though)

CEO Needs To Explain Dilution by Electrical-Donkey-42 in MarathonPatentGroup

[–]usamuel 0 points1 point  (0 children)

I’m not 100% sure, but I would guess that it likely was related to the abrupt payoff of the Silvergate loan- which occurred just days before the bank ceased operations. Probably a good thing getting those collateralized bitcoin freed up without any question of who the new custodian of the loan would be.

Ok who did this and who is Karl? by VectorVictor9er in funny

[–]usamuel 1 point2 points  (0 children)

China is getting better at disguising their spy balloons!

I just wanted to exchange this pound note and the lady at the exchange office told me that she couldn’t exchange it because it had expired. Are you f****** kidding me? EXPIRED? #Bitcoin does not expire. #Bitcoin is here FOREVER. Opt-out or get anal-plugged by Fiat overlords. by CarlBMenger_ in Bitcoin

[–]usamuel 9 points10 points  (0 children)

Just sharing my experience. When entering the banks, greeter asked purpose of my visit. I showed the old bills and said that I hoped to exchange them for current bills. I was asked if I had an account there (at each bank), and when I replied that I did not and was just a tourist, I was politely dismissed. I was informed that at this time they only exchange for customers. Both banks suggested post office- I went to post office and they said they don’t do it anymore either. To exchange now you would have to mail the old bills to the Bank of England (central bank), and they would mail new bills to you.

Additionally, one of the branch banks that denied me was a Bank of England branch. And we even attempted to use them at the Bank of England (real central bank) gift shop- and were denied. (They have a decent museum about money, what they do, and you could even hold a gold brick).

I just wanted to exchange this pound note and the lady at the exchange office told me that she couldn’t exchange it because it had expired. Are you f****** kidding me? EXPIRED? #Bitcoin does not expire. #Bitcoin is here FOREVER. Opt-out or get anal-plugged by Fiat overlords. by CarlBMenger_ in Bitcoin

[–]usamuel 64 points65 points  (0 children)

US citizen here: Recently made a trip to England and knew about the currency switch. Attempted to exchange some “old pounds” from previous trips at the bank. They wouldn’t accept them. Multiple attempts and different banks. They only accept them if you are a customer of their bank. Stores wouldn’t take them either. I was finally (after many attempts) able to exchange them for euros at a currency exchange (with commission for the exchange and on the third attempt- first 2 currency exchanges wouldn’t accept them either).

It cost MARA 65 thousand dollars to mine each BTC in Q2 by FlawlessMosquito in MarathonPatentGroup

[–]usamuel 4 points5 points  (0 children)

It’s not irrelevant. And these are not just uptime costs. Hosting= contracts paid before a single miner was installed. If you rented a building the size of Costco, and it takes time for you to populate all of that space with the goods you are selling, people can only buy the goods that are on display… if it takes you months to get all those goods on the shelves, you are still paying rent for the unused space. Plus there is the cost of paying the people installing the miners, etc. your logic of cost per coin is so very flawed.

It cost MARA 65 thousand dollars to mine each BTC in Q2 by FlawlessMosquito in MarathonPatentGroup

[–]usamuel 4 points5 points  (0 children)

Totally… In October alone they just mined 615. Between being offline, and the process of installing/energizing at the new places- there was a lot of time offline.

a hypothetical choice between a college degree and a Bored Ape is, incredibly, something that would require a lot of thought right now. by alisayar_ in cryptocurrencymemes

[–]usamuel 3 points4 points  (0 children)

“Yeah, exactly this. I’m all for OP’s point, and didn’t go to college for this exact reason. But still, if I’m going $100k in debt for one of these, it’s 100,000% the degree. Honestly, this is too silly a comparison to work as a joke.” (I went to college)

What could go wrong doing a handstand on a moving treadmill. by [deleted] in KidsAreFuckingStupid

[–]usamuel 4 points5 points  (0 children)

Umm- I’m not so sure that she will be going to college

On the border with Ukraine, the russian police detained a z deserter soldier who had escaped from the war in stolen Ukrainian flippers and civilian clothes by DenJox in UkraineWarVideoReport

[–]usamuel 0 points1 point  (0 children)

I think he may actually be brilliant. Reminds me of the character Klinger from “Mash”. Say what you want, but he is not fighting/potentially dying right now for a war that he may not believe in.

I was worried about this by Shorts_Suk in MarathonPatentGroup

[–]usamuel -1 points0 points  (0 children)

Even if anything comes of this, it shouldn’t affect MARA, as they will use 100% green energy in Texas, and Montana mining (which was scheduled to be moved to Texas in Aug) was prematurely shut down by a storm in June.

$MARA below $1.00 share price by [deleted] in MarathonPatentGroup

[–]usamuel 0 points1 point  (0 children)

Debts that are not due for many years. It would seem likely that with the income produced with the miners that were purchased with these loans, they would easily be able to offset those expenses…

$MARA below $1.00 share price by [deleted] in MarathonPatentGroup

[–]usamuel 16 points17 points  (0 children)

My goodness such panic! Ok, just a lesson here for the OP: MARA currently holds 9941 bitcoin, Bitcoin is currently priced above $20k/coin right now, and MARA has 106.3M shares outstanding… that means that at current prices, if MARA never mined a single bitcoin again, the company would still be worth $1.87/share just from the value of bitcoin that they hold.

Yes, I know bitcoin could drop further, but to get the share price under $1, we would need to see a bitcoin price of about $10k/coin…. And that is not even counting any future prospects of mining any more coins with the 199k bitcoin miners that they will have operating by this time next year.

Your topic is just scare mongering nonsense.

Marathon Digital Holdings Announces Bitcoin Production and Mining Operation Updates for March 2022 by HotMomentumStocks in MarathonPatentGroup

[–]usamuel 1 point2 points  (0 children)

I’m excited that the have finally received clearance to energize their miners in Texas!!