James McAvity @jamesmcavity Twitter profile

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James McAvity

@jamesmcavity

1 year

@CormintInc @theMiningPod @wsfoxley Soon to be an #ordinals release Very excited to join @wsfoxley !!

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James McAvity

@jamesmcavity

8 months

In my @coinbase account, i can: 1. Wire $USD easily with just 2fa 2. Send USDC to any blockchain address 3. Earn 5.1% 4. Never have to go to a physical branch, ever. Having trouble seeing how this is not the most competitive and functional bank account in the country.

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James McAvity

@jamesmcavity

10 months

1 satoshi should be called 1 bitcoin And 100 million bitcoin should be called a satoshi.

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James McAvity

@jamesmcavity

11 months

TFW you mine 6 blocks in a row and the last one has 85 BTC of fees in it. Happy thanksgiving

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James McAvity

@jamesmcavity

6 years

Let's take a look at the mining death spiral FUD, kids! At $.05 KW/h 1 S9 makes about $1 of profit per day at $3800/BTC. $.06-$.08 are still profitable under these conditions, $.09 is not. The breakeven cost here for $.05 KW/h is $2300/BTC, a 40% sell-off from here. (read on)

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James McAvity

@jamesmcavity

7 years

BCH: focused on winning a short term battle with a short sighted strategy, setting itself up for long term failure. BTC: focused on winning the war, keeping users empowered vs. centralizing forces. Dont be fooled. #bitcoin

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James McAvity

@jamesmcavity

10 months

There is a big winter storm crossing the country right now. This storm will put a strain on power grids If prices get above $.1 - $.2 per kWh 95% of the bitcoin mining load will be offline across Texas, as usual. Let’s have a look at the storm & take a trip down memory lane 🧵

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James McAvity

@jamesmcavity

1 year

@BitcoinPierre Many factual inaccuracies here @cltomlinson -- addressed below. "Generators are not investing in cleaner and more efficient power sources because peak periods are less profitable." ERCOT price volatility has gone up because of grid penetration by intermittent renewables. These

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James McAvity

@jamesmcavity

4 months

Texan media outlets reporting that power prices will double over the next 5 years because of Bitcoin mining. Ugly truth: Power prices have already doubled in Texas over the last 5 years. Bitcoin miners had nothing to do with it. Relevant data in this tweet and thread below 1/

James McAvity

@jamesmcavity

10 months

There is a big winter storm crossing the country right now. This storm will put a strain on power grids If prices get above $.1 - $.2 per kWh 95% of the bitcoin mining load will be offline across Texas, as usual. Let’s have a look at the storm & take a trip down memory lane 🧵

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James McAvity

@jamesmcavity

2 years

@jordan_vondy Your tweet is slightly misleading, Jordan. "Slightest criticism" should be replaced with "Constant criticism, Slander, False allegations, Agenda driven legislative attacks on a federal and state level, Crony policy-making, and general antagonism." What you are probably noticing

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James McAvity

@jamesmcavity

4 months

@BillyM2k Rogue One and Andor are great. Fight me

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James McAvity

@jamesmcavity

1 year

China is building 400 Nuclear power plants domestically while selling the US all the raw materials to continue building taxpayer subsidized solar and batteries. Nuclear is the real green revolution, China knows it and they are moving decades ahead of us on our own dime.

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James McAvity

@jamesmcavity

11 months

S9s are once again profitable to mine @ $.04/KWh.

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James McAvity

@jamesmcavity

8 months

Every dog coin that exists today will outlast the Euro

DEGEN NEWS

@DegenerateNews

8 months

BREAKING: CAMPAIGN TO PUT @solana MEMECOIN $WIF ( @dogwifcoin ) ON THE VEGAS SPHERE HAS RAISED ITS TARGET TOTAL AMOUNT

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James McAvity

@jamesmcavity

8 months

There are now 4 dog coins with over $1B fully diluted market cap Doge, shib, bonk, wif How does that make you feel?

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James McAvity

@jamesmcavity

8 months

@girevik_ @coinbase Its not fractional reserve, either

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James McAvity

@jamesmcavity

5 years

Imagine a future where you are thankful for: - Having met Bitcoin developers before they are forced into hiding - Been able to purchase a hardware wallet, legally, using the banking system - Having traded on a DEX using your domestic ISP May not be far from the reality

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James McAvity

@jamesmcavity

8 months

Your client is a legend. You should pay him to tell you what to do next time

Peter Schiff

@PeterSchiff

7 years

Just had a client liquidate his entire IRA to put 100% of the proceeds into Bitcoin. What are the odd this turns out to be a wise move?

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James McAvity

@jamesmcavity

10 months

There has been a great omen

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James McAvity

@jamesmcavity

3 years

@Disob3yed congratulations

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James McAvity

@jamesmcavity

6 years

The system is well thought out and resilient, we gonna be aight

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James McAvity

@jamesmcavity

7 years

Every day that #Bitcoin survives it grows stronger. Early hodlers are arbitraging time vs. 'dangerous/scary to hold' risk, 'protocol breaks risk', 'too hard to buy' and 'it will be regulated away' risk. Many people are staying out for these reasons, their loss is your gain.

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James McAvity

@jamesmcavity

7 years

New stable coin idea: Everything is priced in #bitcoin

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James McAvity

@jamesmcavity

2 years

@VitalikButerin @koeppelmann Curtailment to support grid reliability is less than 5%, so you can still get 95% uptime. Bitcoin miners act as market makers in an electricity grid, absorbing low priced intervals(wind) and curtailing during times of high demand.

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James McAvity

@jamesmcavity

8 months

Panic buy The all time high It worked for those who Came before you #cryptohaikus

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James McAvity

@jamesmcavity

6 years

A Bitcoin ETF is exciting. It removes barriers to entry for a tons of retail investors on the sidelines due to: 1. Scared to custody or trust 3rd party 2. Too lazy to open an account 3. Savings are in IRA/401k:

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James McAvity

@jamesmcavity

2 years

Do Kwon sacrificed himself so that we could gain attractive entry prices to digital assets. Terrified boomers are paper handing on stablecoin and exchange rehypothecation fud. Convicted holders buying now, over levered papelitos exiting. Nature is healing. Be courageous!

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James McAvity

@jamesmcavity

6 years

Miners are getting squeezed Hedge funds are getting redemptioned into high-watermark death spiral As a non-leveraged individual hodler you are impervious to these scenarios If you are still here, you're in position A and you've made it through the worst of it.

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James McAvity

@jamesmcavity

6 months

The top is in for difficulty until September

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James McAvity

@jamesmcavity

11 months

CME Bitcoin futures are trading at a $700 premium to spot

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James McAvity

@jamesmcavity

2 years

An annual tradition! Happy Halloween

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James McAvity

@jamesmcavity

10 months

Nuke O I Just before The all time high #cryptohaikus

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James McAvity

@jamesmcavity

10 months

Merry christmas to all! Especially Elizabeth Warren. May she find peace and joy, if only for one day.

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James McAvity

@jamesmcavity

9 months

Base load that does not contribute to peaks is literally the ideal market participant in a power grid. This is especially true for grids with high renewable penetration.

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James McAvity

@jamesmcavity

2 years

@SpokespersonCHN Why don't you ask your people which they would prefer instead of deciding for them

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James McAvity

@jamesmcavity

6 years

In conclusion: - Miners won't behave economically rationally up to the minute, they will try to survive - Short term "keep em running" incentives exist for slightly unprofitable operations - Those who do survive will benefit incrementally from the death of others

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James McAvity

@jamesmcavity

2 years

Its hard to overstate the tremendous benefit that will accrue to West Texas from the coincidence of the three below events: Renewable energy tax credit BTC Genesis Block Ukraine war/NG forward curve re-pricing

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James McAvity

@jamesmcavity

6 months

1. Stimulates demand in a grid that has experienced power pricing below $.01/KWh 40% of 2024 ✅ 2. Curtails >75% of load during peak demand ✅ 3. Rural job creation + property tax boost ✅ 4. Attracts relocating entrepreneurs ✅

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James McAvity

@jamesmcavity

9 months

It will never not be funny when Bitcoin-loving "libertarians" act as the morality police of free market transactions between consenting adults.

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James McAvity

@jamesmcavity

3 years

@twobitidiot @GaryGensler @GaryGensler Do the right thing and approve a spot ETF. This futures ETF may be easier to approve but it's a trap for un-educated retail investors. There is no reason to expect anything other than steep contango + roll front-running of this product. Do the right thing.

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James McAvity

@jamesmcavity

11 months

never selling

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James McAvity

@jamesmcavity

4 months

So ask yourself: How can power price increases be driven by a type of load that is not contributing to the hours that are causing 90% of the price increase? A: they can't and this story has holes in it. @DanPatrick @HoustonChron @lee_bratcher @tedcruz

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James McAvity

@jamesmcavity

6 months

@MollyJZuckerman Could we re-phrase your post like this: "If you don't agree with how I express my right to vote in a democratic process, you are immoral and without conscience"

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James McAvity

@jamesmcavity

7 years

1. be a genius programmer 2. go to college 3. have no friends 4. great idea for a social network, start it 5. success 6. get all the friends 7. go public 8. beholden to shareholders and quarterly reports 9. become evil to keep up with profit expectations 10. lose all the friends

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James McAvity

@jamesmcavity

11 months

The natural economic behavior of a Bitcoin mining load is to provide organic demand response. Any miner who does not do this is leaving money on the table. Miners who respond the fastest will make the most money Bitcoin mining is an economically perfect consumer of power.

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James McAvity

@jamesmcavity

10 months

Gm, fees are double the block reward again.

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James McAvity

@jamesmcavity

4 years

Bitcoin mining revenue just hit $1b per month, on pace to pay miners $12b this year.

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James McAvity

@jamesmcavity

10 months

Dogcoin only exchange called nasdog send tweet

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James McAvity

@jamesmcavity

1 year

@Jason @BaltimoreMicah 15 years in -- 1. #bitcoin is the best performing financial asset in history 2. Bitcoin has onboarded over 200 million+ users globally. 3. 100 Trillion in settlement processed since inception Is this not impressive to you?

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James McAvity

@jamesmcavity

5 years

@CrazyPolymath You posted this on twitter

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James McAvity

@jamesmcavity

6 years

Which currency will survive longer:

Dogecoin

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The Euro

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James McAvity

@jamesmcavity

6 years

1/ @Nouriel rose to fame by predicting the events of 2008 financial crisis. He has since been wrong repeatedly and publically. Unlike traders, money managers and investors his “reputational capital” is accumulated with no risk.

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James McAvity

@jamesmcavity

6 years

Take a look at energy markets for the cues here. Do unprofitable producers turn off their drilling rigs the second they dip into the red? NO. Many are locked into leases that require them to drill or they have cash reserves to weather the storm. They can also hodl, and many do.

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James McAvity

@jamesmcavity

7 months

And this "Zeta".... Is it in the room with us right now?

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James McAvity

@jamesmcavity

4 years

All the world's Bitcoin is worth 1.5% of all the world's gold. Bitcoin is more useful than gold as a non sovereign store of value and is more scarce. 66-1 discount because investors are afraid bitcoin will fail, if you are confident it won't fail, this is a no-brainer.

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James McAvity

@jamesmcavity

11 months

GM Dog monies are one of the categories of cryptocurrencies that have been resilient across bull and bear cycles. Do you believe it is possible that a dog money will one day become the reserve currency of earth? Why or why not

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James McAvity

@jamesmcavity

11 months

Nabs is pumping @AndrewYang @tpacchia @lee_bratcher @PubKey_NYC

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James McAvity

@jamesmcavity

7 months

No more palindrome halving date

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James McAvity

@jamesmcavity

2 years

Bullish on btc, solana, eth, dog money, separation of money and state, borderless investment. Scams suck the air outta the room but they make everything better by removing bad actors and forming the foundation of less-manipulable systems. Get some fresh air, we will survive.

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James McAvity

@jamesmcavity

2 years

@VitalikButerin @koeppelmann This is important because grids still need reliable generation that can meet consumer demand. Reliable generation can't turn down quickly so forcing it to endure prolonged periods of losses deters investment and makes them a bad investment.

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James McAvity

@jamesmcavity

1 year

Bitcoin mining difficulty is adjusting down in response to the Texas heat wave prompting increased curtailment and underclocking from miners. As late stage proof of work rolls in, we will continue to see difficulty move inversely to seasonal grid demand.

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James McAvity

@jamesmcavity

6 months

Yikes. While i love the goal of giving miners more control of block templates and decentralized pools, this is an impossible pill to swallow. Bitcoin relies on miners being rational and profit seeking, expecting them to be ok with earning 10% less revenue is a non-starter.

Ocean Blocks

@BlocksOcean

6 months

⛏️ New Ocean Block Mined ⛏️ Block Height: 842828 Fees: 0.0 BTC Subsidy + Fees: 3.125 BTC Difficulty: 83.15T

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James McAvity

@jamesmcavity

6 months

GM valued followers What follows is the obligatory halving analysis from your humble servants and low confirmation depth providoooors. It is our pleasure to provide contract labor to an algorithm and its community. Also @bryan_johnson is right about everything.

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James McAvity

@jamesmcavity

6 months

I've got a great haiku planned for tomorrow. The haiku addresses the intersectional paradox of miner/bitcoiner thought regarding a 50% reduction in revenue but increasing scarcity of the underlying commodity. Stay tuned, valued followers.

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James McAvity

@jamesmcavity

6 years

Mining setups are similar; facility leases, power purchase agreements, hosting agreements, you can't just shut em off whenever you want.. unprofitable production often requires a sustained period of losses to actually go bye bye.

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James McAvity

@jamesmcavity

3 years

@twobitidiot @GaryGensler * This analysis is before fees. It's even worse with fees.

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James McAvity

@jamesmcavity

1 year

These attitudes are poisonous -- It is divisive to tell the most illiquid and highly vested Bitcoin stakeholders to "STFU and Hash." It's no longer Jihan against the world. You're alienating people who have similar long term interests as you.

John Carvalho

@BitcoinErrorLog

1 year

Go ahead miners, try it. Would love to see some incited innovation on ways to remind miners to stfu and hash.

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James McAvity

@jamesmcavity

4 months

@DanPatrick @HoustonChron @lee_bratcher @tedcruz 2023 Texas power stats: 99.2% (8690 hours) of the time at an average of $37.50/MWh .8% (70 hours) of the time at an average of $ 1,634.00/MWh Bitcoin miners were 97% offline during the 70 most expensive hours. @lee_bratcher @tedcruz @GideonOPowell @GregAbbott_TX

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James McAvity

@jamesmcavity

6 months

Gm contango hashprice enjooooyors

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James McAvity

@jamesmcavity

4 years

@krakenfx panic buy the all time high it worked for those who came before you #cryptohaikus

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James McAvity

@jamesmcavity

7 years

FUN FACT: Cash used to be backed by gold! FUN FUTURE: Future Cash will be backed by digital gold! @OPENDIME Is the real #Bitcoin Cash

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James McAvity

@jamesmcavity

1 year

I am neither a fraud, nor a huckster, nor a scam artist. I am simply competing to create digital commodities out of thin air by guessing random numbers every 10 minutes.

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James McAvity

@jamesmcavity

2 years

Days like today are a speed bump on the road to inevitability #Bitcoin

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James McAvity

@jamesmcavity

1 year

ERCOT is forecast to set a new all time high load record today and has also experienced 4 hours (and counting) of free/negative power.

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James McAvity

@jamesmcavity

8 months

Gm austin #SXSW2024

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James McAvity

@jamesmcavity

2 years

GM difficulty looks like 12% down next adjustment. Congratulations to the low cost miners, pour one out for your fallen brethren

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James McAvity

@jamesmcavity

7 months

GM, Staking derivatives are a bad idea. Making security collateral liquid is a bug, not a feature.

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James McAvity

@jamesmcavity

2 years

@VitalikButerin @koeppelmann Texas is one of the fastest growing renewable jurisdictions in the world and consequently has enormous price volatility. The addition of Bitcoin mining loads will stabilize price volatility and increase grid reliability.

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James McAvity

@jamesmcavity

1 year

This summer is setting up to be potentially epic for #Bitcoin miners: Fees are consistently above .5 BTC per block, currently averaging over 1 BTC with demand for BRC20 inscriptions staying strong.

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James McAvity

@jamesmcavity

11 months

GM hashprice enjoyooors

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James McAvity

@jamesmcavity

2 years

Poor is the new rich #solana

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James McAvity

@jamesmcavity

8 months

Let’s go boys

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James McAvity

@jamesmcavity

4 years

ARE YOU NOT ENTERTAINED

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James McAvity

@jamesmcavity

2 years

We are now seeing that countries who have irrationally committed to radical ESG policies are on the brink of insolvency and experiencing high energy inflation. German de-nuclearization in hindsight looks particularly idiotic. What changes will we see in the fallout from this?

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James McAvity

@jamesmcavity

10 months

No new coal and natural gas is great news if your sole objective is to decarbonize the grid. But it is not great news if your life depends on reliable heat and AC during extreme weather events. With nuclear, we can have reliable carbon free energy. Nuclear energy is a miracle.

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James McAvity

@jamesmcavity

1 year

@douglewinenergy Miners require a power purchase agreement(ppa) in order to make $ when curtailing. PPAs require margin posting and are often settled at a loss vs the real time electricity price. There is risk, there is a cost, it’s not a free lunch Would love to discuss with you sometime.

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James McAvity

@jamesmcavity

5 years

Stockpile Hardware Wallets While You Still Can @OPENDIME @Trezor

Bloomberg Crypto

@crypto

5 years

Treasury Secretary Steven Mnuchin told a Senate committee that the Trump administration soon will announce new requirements for crypto assets

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James McAvity

@jamesmcavity

2 years

@thomas_fahrer I think about this a lot with late stage PoW. Power grids have to have close to perfectly balanced supply and demand 24/7/365.. Converting a joule of power from a rapidly expiring commodity with 1s of useful life into the most durable commodity money of all time is quite an

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James McAvity

@jamesmcavity

6 years

As we drop to $2300, let's assume miners at $.06-.08 drop off gradually, if hashrate is trending downward, there is a financial incentive for breakeven or small-loss miners to continue hashing. The next difficulty adjustment will help them stay afloat + increase profitability

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James McAvity

@jamesmcavity

2 years

You’re all underexposed to BTC and are about to suffer deeply. Especially those of you who are leaders of so called nft illuminati group chats

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James McAvity

@jamesmcavity

6 years

@DanDarkPill Craig Wright is a fictional troll personality created by @Frances_Coppola to undermine Bitcoin’s credibility. Public appearances are orchestrated with cutting edge mind control techniques as described by Alex Jones on JRE And a fraud

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James McAvity

@jamesmcavity

8 months

Say what you want about crypto but you cant deny that our criminals left behind solid portfolios for their creditors

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James McAvity

@jamesmcavity

1 year

@nic__carter 100% correct Reliable thermal/nuclear generation is slow to be built because none of them want to endure the 15% of the year where power prices <$0 Renewables will generate down to $-26/mwh because the tax credit is worth $27/mwh. Let's hope that high prices cure high prices

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James McAvity

@jamesmcavity

6 years

In energy markets there is no beneficial effect to continue producing, more supply = more downward pressure on the price. In BTC, if continuing to hash accelerates the next downward adjustment in difficulty then ABC mining co's unprofitable production actually helps their biz.

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James McAvity

@jamesmcavity

4 years

must watch.

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James McAvity

@jamesmcavity

1 year

@douglewinenergy If the goal is to speak honestly about today, we must note that during the conservation notice, >90% of the nameplate installed wind will not be generating. I applaud @ERCOT_ISO staff for managing a difficult generation mix and hope we all make it through today without issue

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James McAvity

@jamesmcavity

4 years

The following are cool: btc eth stablecoins dex defi flashloans mev L2 sorcery lightning dao pow pos other consensus algo experiments the following isn’t cool: hating on innovation at the behest of corrupt, centralized legacy governance systems

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