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2641  Alternate cryptocurrencies / Altcoin Discussion / Re: Will exchanges control ETH after it becomes a PoS cryptocurrency? on: July 18, 2022, 01:16:03 AM
The released capacities will definitely switch to mining other coins, and today the profit received from mining Ethereum Classic is one of the big ones. An increase in hashrate in the network will necessarily entail an increase in network security and, as a result, an increase in the cost of ETC, which will again attract miners to transfer capacity to this network.

It's possible ETC will become bigger and stronger than ever after Ethereum goes full PoS. We've yet to see how secure the new Blockchain will be, especially when PoS undermines the network's decentralization. If ETH fails, then ETC will take over as the world's second-largest cryptocurrency by market cap. Things would've been worse if the code wasn't open source for anyone to modify at will. There are rumors that ETH will be switching to PoS by the end of the year, so it's best to be prepared just in case. Just my opinion Smiley
2642  Economy / Economics / Re: Regulation seem like the only option left on: July 18, 2022, 01:08:38 AM
If we are to have mass adoption of cryptocurrency, we need to accept the fact that there will be regulations that go along with it. The government will discourage anyone from using cryptocurrencies without regulation. Regulation will help keep the market clean scam projects and scammers will go to jail and can no longer compromise our safety but the regulations will limit our anonymity somewhat, cryptocurrency gives us certain privacy, once the regulation is passed it will affect us.

That's certainly true, mate. Regulations will affect our privacy in every way. They're meant to minimize the number of scams, hacks and/or theft, but they can also affect the average person by exposing his/her identity in a centralized platform. KYC/AML are security holes that make Blockchain tech no different than traditional banking. Unfortunately, there's nothing we can do if we want crypto to be legalized worldwide. Either exchanges comply or face serious consequences in the long run.

It's a good thing crypto/Blockchain tech is decentralized or things would've been worse by now. The future is widely unpredictable so no one knows what governments will come up with to either stifle or amplify crypto/Blockchain tech's growth worldwide. Just my thoughts Grin
2643  Economy / Collectibles / Re: [Group Buy] Offline Cash Bitcoin Notes on: July 16, 2022, 09:15:52 PM
1 standard set for me. Thanks! Cheesy
2644  Economy / Economics / Re: Euro reaches parity with the US Dollar...Is it good or bad for Bitcoin? on: July 15, 2022, 01:46:24 AM
What's even more bizarre is that on top of Euro reaching parity with USD, USD inflation still isn't stopping. New CPI has the USD inflation rate at 9.1 percent. The interest rate hikes aren't reflected in this report, nor are lowering energy costs, but it still is absurd that nearly 10 percent of the value USD holders had a year ago was lost. There aren't many stable currencies left, which is unironically "good for Bitcoin."

The US Dollar is losing its luster as inflation soars like there's no tomorrow. If I'm not mistaken, USD has a higher inflation rate than the EUR. It's possible the Euro will end up being a stronger currency than the Dollar in the long run as the latter continues to lose traction. How will this impact Bitcoin's price, is yet to be seen. I'm guessing the number of stablecoins on the market will diminish over time due to tightening regulations from mainstream governments. What really matters is Bitcoin's usefulness as a currency (not as an investment tool). As long as it stays decentralized, it won't be going anywhere soon. Just my opinion Smiley
2645  Alternate cryptocurrencies / Altcoin Discussion / Re: Are governance tokens (UNI, COMP) a good long-term investment? on: July 15, 2022, 01:28:41 AM
That doesn't sound right. This makes me think that you just came out of the cave after a long hibernation hehe. I'm pretty sure those who were really around knew the price measured in ETH were even higher when UNI was surging. A lot of the traders and investors didn't mind how much they will spend to buy or sell during that time since as long as they make a profit.

It's been a long time since I don't use the Uniswap platform. I've sold all of my UNI after the airdrop. A good thing I've made that decision, or I would've had less money in my pocket today. I've only asked if governance tokens were a good long-term investment since they serve a unique purpose in crypto/Blockchain land. It doesn't seem to me that platforms like Uniswap and Compound are that popular compared to their counterparts on other Blockchain networks, but I could be wrong.

The high ETH gas fee is what killed most of these platforms, since only whales were able to participate in the system. How can it be called "decentralized finance" if only a select few are able to use it? This is nothing more but inequality baked right into the Blockchain. I hope things improve in the future so both Uniswap and Compound could reach mainstream adoption at a large scale. The market is bearish right now, so it wouldn't hurt buying a few of these tokens (mainly UNI and COMP) just in case. Smiley
2646  Alternate cryptocurrencies / Altcoin Discussion / Re: Will exchanges control ETH after it becomes a PoS cryptocurrency? on: July 15, 2022, 01:21:32 AM
I'm not too sure completely, but as we know centralization can make it so easy to play a role in the market, especially on a scale Ethereum clearly has a negative impact on cryptocurrencies. The logic is when the center under the Ethereum network also gets the same impact. This was not the main purpose for which Ethereum was originally created. Then it would make sense that Vitalik vehemently refused. The rest is about centralized exchanges which are much easier to control market movements, to me that would be very unwelcome.

Greedy exchanges will want a piece of the pie, by using customers' ETH to guide the Blockchain in their own direction. It will be a conflict of interest, as exchanges will only approve/disapprove certain network upgrades and/or improvements if it benefits them. For what I know, money talks so you can expect such big players to "own" Ethereum at its fullest. We cannot say the same with the current version of Ethereum (which can be mined by anyone with a GPU). Vitalik Buterin has a strong presence in the project, so anything he says will be seen with good eyes by the community. It's unfortunate, since this will lead Ethereum towards full centralization.

At least, we'll have Ethereum Classic to preserve Bitcoin's original purpose (decentralization/censorship-resistance). Who knows if miners from ETH flock to ETC once the PoS merge is completed? Just my thoughts Grin
2647  Alternate cryptocurrencies / Altcoin Discussion / Re: Will DOGE go back to sub $0.01 prices ever again? on: July 15, 2022, 01:15:30 AM
I think it will eventually retrace all the way back.  The hard part of usd pricing alts is its alldepemdent on bitcoin and what bitcoin/usd is.  If bitcoin spikes to 100k then maybe not but if bitcoin retraces to 10k its a likely fall for doge as well.  Ultimately with the 10k per doge being minted per minute I think price is just unsustainable.

You've said it yourself. The only way DOGE will go back to sub $0.01 prices is if Bitcoin goes through a heavy downfall in price. Other than that, I don't see this becoming a reality anytime soon. If DOGE falls too low in price, it's likely Elon Musk will abandon it for the next big thing in crypto. After that, DOGE will have a hard time reaching a new All-time-high by its own. The "meme" cryptocurrency may be good for micropayments and gambling, but it's terrible as a store of value. The circulating supply of DOGE is huge, compared to top players in the market.

With a high inflation rate, we can never expect to see DOGE become extremely valuable in the future. At least, the cryptocurrency will survive thanks to its decentralized and censorship-resistant design. Who knows if it gets to live alongside Bitcoin and Ethereum for generations? Just my opinion Smiley
2648  Bitcoin / Bitcoin Discussion / Re: Will BTC survive if encryption/cryptography becomes illegal? on: July 15, 2022, 01:09:10 AM
Cryptography can’t get illegal. Wtf are you talking about? The whole world uses these technologies. Banks, businesses, police, cc companies, i mean pretty much everyone.

They may try to outlaw bitcoin but cryptography/encryption will never be banned. Banning these is like banning math. It is the same level of absurdity.

Of course. But you'll never know what governments will come up with in order to try to destroy Bitcoin and other cryptocurrencies for good. They might still use encryption/cryptography, but it will be illegal for public/private use. Such a ban will work in non-democratic countries like Russia and China, simply because their governments often cripple the opposition. We can't say that about democratic countries, though. Nothing is guaranteed to last forever, so we should be prepared for the worst. Just my thoughts Grin
2649  Economy / Collectibles / Re: [FREE RAFFLE] 486th- ฿ECAUSE I AM STILL IN A GOOD MOOD-CYPHER HODL PRINTED COIN on: July 15, 2022, 01:06:20 AM
11 - Abiky

Thanks! Smiley
2650  Economy / Collectibles / Re: *$* Arculus Cold Storage Wallet Bitcoin 2022 Orange Edition Giveaway! *$* on: July 14, 2022, 04:46:36 PM
88 - Abiky

Thank you! Cheesy
2651  Alternate cryptocurrencies / Altcoin Discussion / Are governance tokens (UNI, COMP) a good long-term investment? on: July 13, 2022, 05:05:39 PM
I've seen some governance tokens going all the way towards the "triple digits" within their initial days since launch. It's impressive how tokens like MKR and COMP reached such high prices within such a short amount of time. Uniswap's "UNI" token performed well in the past, but prices are relatively stagnant these days due to the platform's high ETH gas fees and poor performance. The current bear market made things worse, plunging major crypto asset's prices at a very fast pace. Given that governance tokens allow "hodlers" to make key decisions on decentralized trading platforms, it's possible demand will soar in the future.

Do you think governance tokens (UNI, COMP, MKR) are a good long-term investment? If not, why? Your input will be greatly appreciated. Thanks in advance. Smiley
2652  Economy / Economics / Euro reaches parity with the US Dollar...Is it good or bad for Bitcoin? on: July 13, 2022, 04:40:23 PM
The FED's hawkish measures have made the USD stronger over the past days. However, the Euro has been showing signs of "weakness" as it nears parity with the US Dollar. With 1 EUR being worth (or close to) 1 USD, there will be no difference in exchanging Bitcoin to one of these leading Fiat currencies.

Sometimes I wonder what will be the implications of Bitcoin's price within the short term with both currencies (USD and EUR) in parity with one another. Will this lead BTC towards short-term gains or will everything else remain the same? Also, do you think the EUR parity with the USD is only temporary? If not, why? Your input will be greatly appreciated. Thank you very much. Smiley
2653  Alternate cryptocurrencies / Altcoin Discussion / Will exchanges control ETH after it becomes a PoS cryptocurrency? on: July 13, 2022, 04:15:09 PM
I've been saying this for a long time now, and I will say it again. PoS will make ETH more centralized as whales and other big players in the industry will be able to participate in the network with their stake. Considering that exchanges hold most of a Blockchain network's cryptocurrency supply, changing to PoS will leave the average person out of the system for good. Of course, people will still be able to stake less than 32 ETH through staking pools. But it won't be the same as becoming a validator yourself (you won't participate in the network's consensus by staking your coins in a staking pool). A better approach for ETH would've been a hybrid PoW + PoS consensus algorithm. That way, everyone will have a final say over what new rules or decisions are made in the network. I guess Vitalik doesn't care about decentralization after all.

Do you think big exchanges like Binance, FTX, and Huobi will be able to control ETH after it becomes a full-fledged cryptocurrency? if not, why? Will there still be hope for ETH after the upgrade is finalized? What will happen if ETH collapses due to centralization? Will it take the whole crypto market down with it? Your input will be greatly appreciated. Thank you. Smiley
2654  Bitcoin / Bitcoin Discussion / Re: Is it a good time to start accepting BTC? on: July 13, 2022, 03:58:11 PM
Accepting bitcoin is always good idea. If you run a service and people are willing to accept it via Bitcoin then this is good for you. I plan to have a car showroom and put bitcoin there as payment method. Which would make me more profitable than Fiat cash money.

If you don't care about Bitcoin's price in Fiat terms, then there should be no problem accepting the cryptocurrency as payment method. But most merchants and businesses need to pay their bills and several other costs which can only be paid in Fiat. You can't sustain your business if Bitcoin goes all the way down the drain in an instant.

For this and many other reasons, Bitcoin acceptance will remain low for the foreseeable future. The only way this would change is if the world begins relying on Bitcoin as a standard unit of account. But everything still moves around Fiat, so the odds of this happening are very slim. Hence, accepting both Bitcoin and Fiat would be the only way to go. Just my opinion Smiley
2655  Alternate cryptocurrencies / Altcoin Discussion / Re: Is it possible for Traditional Banks to cooperate with Crypto on: July 13, 2022, 03:53:01 PM
Many people think that cryptocurrencies were created to replace and eliminate traditional banks. This is a common mistake and it is these thoughts that are spread that make the banking system see crypto as a threat to them.

Crypto is the new financial industry and it was created for people with a need for privacy, financial freedom and it's all about personal choice. Its mission is not to kill the traditional banking system.

We should stop spreading this, in my opinion, it would be better if both existed alongside each other.

Couldn't agree more with you, mate. People are totally wrong when they think crypto can replace banks. The latter won't go away anytime soon since governments patronize them every step of the way. Banks will simply adapt themselves to the latest technological trends. It's most likely they will create blockchains of their own instead of embracing existing cryptocurrencies that are decentralized by design. Some banks offer crypto custody services to its customers, but the vast majority of these financial institutions are stuck with Fiat.

I don't think crypto will disappear simply because of its decentralized and censorship-resistant design. It will simply co-exist with Fiat for generations. With CBDCs at the brink of launch, banks will only become more powerful than ever. We should focus on making crypto a better alternative to existing banks by embracing decentralization altogether. Who knows how the world's economy will look like with both types of currencies (crypto & Fiat) in play? Just my thoughts Grin
2656  Bitcoin / Bitcoin Discussion / Re: Are we gradually approaching towards the end of Bitcoin? on: July 12, 2022, 02:08:43 AM
The end of Bitcoin had been predicted by many "experts" ever since Bitcoin came to its existence. BTC does have its own flaws which are being looked at as time goes by but I don't see technological advancements fast enough in the next 2-5 years that would phase out Bitcoin.

That's certainly true, mate. Bitcoin will only die if a new technology proves to be superior in the future. If something better than Blockchain comes up, then it will be the end of Bitcoin as we know it. But given that Bitcoin is open source, it's likely the community will alter its code to adapt the cryptocurrency to the new technology. If that happens, then Bitcoin would be truly "immortal". The reason why so many people are saying Bitcoin is dead it's because of the low market prices. But deep inside, Bitcoin is alive as ever.

The blockchain is still running with thousands of miners and nodes maintaining it. This tells us Bitcoin is not dead yet. Development is still happening behind the scenes, so there's that. No matter how many bear markets Bitcoin goes through it will always emerge victorious because of its decentralized and censorship-resistant design. It wouldn't had been like that if BTC were centralized. We should stop focusing on BTC's price in Fiat terms and start using it as a currency. Not only you'd be contributing to the crypto economy, but you will also be making Bitcoin stronger than ever. Who knows if Bitcoin's constant success will lead Fiat towards its demise within the not-so-distant future? Just my opinion Smiley
2657  Economy / Economics / Re: Regulation seem like the only option left on: July 12, 2022, 02:05:58 AM
Never thought I would prefer govt regulation to crypto but this is it. Yes, we're in need of regulation of crypto so we can attract more hedge funds and investors to our crypto market. So we can see a new craze of net inflow of money into crypto instead stuck in the bear market like this.

Crypto was never about becoming part of Wall Street. It was more like a libertarian/cypherpunk movement to bring an alternative financial system free from governments and third-party interference. You'd just send/receive/trade crypto without any middleman whatsoever. Unfortunately, people took crypto as a means of investment instead of a currency. Loss of funds, hacks, and other undesired situations forced governments to intervene. Now they want a piece of the pie by regulating the crypto industry. Governments won't be able to enforce regulations on decentralized networks, but they will be able to do so at centralized exchanges and service providers. You can see KYC almost everywhere, greatly defeating crypto's original purpose. At least, Bitcoin is decentralized. As long as it stays that way, there should be nothing to worry about. Just my thoughts Grin
2658  Alternate cryptocurrencies / Altcoin Discussion / Re: If USDD is "overcollaterized", why did it lose its peg? on: July 12, 2022, 02:02:54 AM
Yes, the risk is still there, I agree, even if he was able to restore it, doesn't mean that will not collapse as what happen to Luna. An I'm not sure as well if they are really over overcollaterized. Maybe they have surplus of reserves, but can they stay that long specially in the worsening market conditions? Besides, I think Justin has lost the luster of being the "shill God" of crypto. Specially the public meltdown between him and CZ.

With how shady Justin Sun's actions are, I would steer clear from USDD as much as possible. The stablecoin is still driven by algorithms even though Justin Sun claims it to be "overcollaterized". This term may just be a marketing scheme to attract as much investors into the stablecoin itself. I can't imagine how big the market crash will be if USDD loses its peg for a long period of time. Investors will be so angry they'll probably ditch stablecoins altogether. Regulators need to weigh in on the industry to prevent another downfall of such magnitude.

With how bad things have turned out for algorithmic stablecoins, it seems to me that only truly collaterized stablecoins will survive. I'm fine with that as long as decentralized cryptocurrencies remain the leading force of the industry. Just my opinion Smiley
2659  Bitcoin / Bitcoin Discussion / Re: Will BTC survive if encryption/cryptography becomes illegal? on: July 12, 2022, 01:59:25 AM
I don't just understand where OP got this news and idea. It is very scary to reason let alone for it to happen.
But since there is a question, let me drop my opinion.
Encryption cannot be illegal. If Encryption becomes illegal the world's privacy system will collapse. The social media chats will be public, banks cannot secure their funds and many websites will cease to exist.

Talking about cryptography. It may also not be illegal and even the government it's is into the blockchain now promoting their CBDCs. Any country who bans cryptography is risking being relegated in technology.

It's very unlikely encryption/cryptography will be banned, since they're the basis of our online security. Without these, cyberspace will become extremely vulnerable against external attacks, and manipulation by malicious actors. I think the US government was just speculating to see how the public will react towards a full encryption ban. The proposed bill in 2020 will never be approved by both chambers of Congress simply because many people oppose it. Such a ban might come into fruition in non-democratic countries (eg: China, Venezuela, Russia, North Korea) but they won't destroy the space in its entirety.

As long as there's one country supporting cryptography/encryption techniques, there's still hope to preserve the very foundations of cyberspace. Cryptocurrencies have gotten this far, so I doubt they'll disappear anytime soon. Just my thoughts Grin
2660  Alternate cryptocurrencies / Altcoin Discussion / Re: Is Web5 a "catch phrase"? on: July 12, 2022, 01:56:07 AM
Just a buzzword for now.

I would like to know how Dorsey even thinks it should work. Just saying that something is decentralized or is powered by blockchain doesn't really say anything. You need to build it first as not even tech for something like that exist. Not one that would justify "powering" it by blockchain what ever that even means.

We can't start thinking about the next iteration of the Web when previous versions aren't even mature for mainstream use. Web 3.0 is just starting to blossom, so the only way Web5 will come into fruition is if Web 3.0 is perfected. There are a lot of issues that need to be solved and a lot of things to be discovered for Web 3.0 to become a force to reckon with. Who knows what the future holds for the entire cyberspace?


So say, Web 3.0 is way different from Web 5.0.  Web 3.0 is more focus on the read-write-execution and still at a development stage while Web 5.0 is way more complex that takes advantage of emotional intelligence.  I don't think that it is only a catchphrase but rather that person took advantage of technology in early development and forcibly attached himself to it by announcing a project called web5.

Jack Dorsey is just improvising how the next version of the Web would be. There's nothing set in stone that would completely replace Web 3.0. I think we're still too early to think about designing a new version of the Web. Bitcoin may be the currency of the Internet, but it isn't an "All-in-one" solution. Making Web5 run within the BTC blockchain is a bad idea in my opinion. They could use the Lightning Network, but you'd still need to deal with on-chain fees at some point. Imagine how slow and expensive Bitcoin will be if everyone around the world used it on a daily basis. For this and many other reasons, I believe Web5 will ultimately fail. No one can predict the future so either Web5 will materialize or another version will take its place. Smiley
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