German MP Urges Government to Stop Selling Bitcoin | Britcoiners by CoinCorner #134

Transcript

We're pathetic on the world stage in terms of what we could be doing. We're supposed to be a financial hub, a leader in the financial sector, and then promoting it all without actually opening our eyes to anything. People keep asking me at the minute about what our politicians are doing, what Labour is doing now they're in power. They keep asking me about their stance on Bitcoin. I'm the same as you guys, I have no idea because they've not said. Never heard Starmer talk about it. You've got Bitcoin Policy UK guys knocking on the doors trying to get engagement. They just don't get a response. You need to support those people. It's just rubbish. We've got Dave R up there. Our guys are more worried about...There's the enthusiasm we're looking for, Dave. It's just annoying. Something that people should be focused on, they're too interested in bloody train lines, privatising all sorts of prehistoric technologies.

Sorry, I can't remember what I was going to say now, so let's move on. I was going to say actually, we realised the other day we've got some audio listeners, didn't we? When the audio pod didn't go out on time, we realised we actually had listeners. Shout out to those guys.

Right, have you lost your train of thought then? Nightmare. Cool. Just, yeah, if you use Ory, be aware they haven't tweeted since 2021. They're like, have they just given up? Maybe they just reply guys, don't anyway.

World's largest Bitcoin miner Marathon didn't sell any Bitcoin in June. So why is this news? I don't know because they said they are selling next month. Maybe they just happen to not have to. Is this probably not the first month where they've never sold Bitcoin? That's just a non-news, isn't it?

No, I think it's because of the price dip and with the price going down, it means that I think it's the lowest it's been with the miner price thing. There's a graph that shows like a miner price, in terms of obviously they're using electricity and they're basically running a loss now while the price is below. Down to 53, obviously. Do miners have to panic sell some of their Bitcoin to keep afloat? I read that there's only four miners that are efficient above that. Well, that depends on your electricity cost, right? If you have free electricity cost, that's not true. Yeah, that's true.

But it's still, I mean, it's still a non-story where like miners not selling Bitcoin because price. Interesting. It's backing up the sentiment, but that's the wrong word. But to try and avoid the FUD of things, everyone was saying, "Oh yeah, all the miners are selling. The miners hold so many Bitcoin and they're all going to sell them." It's like, this is showing that they didn't sell, like FUD with FUD, it's not FUD. They're a public company, so you can see that they haven't sold. That's why people see.

I know, but they specifically picked one month where they haven't sold, and there could be other periods where they haven't sold either. That month is the month when it's gone from 70k down to 53k. So that's the point. It's not them selling, somebody else is selling.