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04/11/17
12:56
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Originally posted by akkatracker
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Nobody's responded to you so I'll add my 2c.
Just a warning I do not trust the people behind this at all (this is my opinion only and not slander), especially considering the horrible management of XPE which I got stung on. This may (probably will) be incredibly biased.
That market update is a mess and is more buzz than anything else. They're obviously trying to ride the crypto hype train.
FGF is an investment company, so they'll invest their money wherever they see fit. You may know other LICs like WAM, BlueSky etc. Their Market Update says they hold a bit in Cloud Lumen, which they invested in via a convertible note.
Regarding the conversion of energy to currency, my understanding is they're talking about mining cryptocurrency (which in essence is a conversion of electricity into currency) but in a buzzy (and BS if I say so myself) manner - I've never heard anyone talk about it as conversion of energy to currency and if you search it nobody seems to. I may be wrong though, but I do consider myself to be fairly knowledgeable about the field.
So yeah, I haven't looked too much at the LIC basically because I don't trust it at all and would rather miss an opportunity than buy into a turd.
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https://www.rt.com/business/408556-siberia-bitcoin-mining-energy/
Could it be something similar to this ?
"" Powerful computers used for mining consume a lot of electricity, and they need to be cooled. Irkutsk entrepreneurs Ilya Frolov and Dmitry Tolmachyov started using the heat produced by computer processors to heat homes. They have connected their so-called ‘cryptofarm’ to an underfloor heating system, and the prototype has worked successfully ""