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@Harlot. The criticism was not if bitcoin had real world uses or not, it is if bitcoin is used enough to account for its very high price. For that criticism, yes it is accounted for, if you include speculative investment as a real world use hehehe.
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@Febo. It might not be also in the next 20 years hehehe. This comparison explains Grin and Bitcoin's similarity on the supply side. It might begin to pump similar to Bitcoin when inflation is below 5% after 20 years, however, the problem is Grin might not be similar to Bitcoin on the demand side hehehe. Every year that passes makes the overall dilution smaller. After 10 years, this falls below 10%. After 20, below 5%. After 25 years Grin will have 4% supply inflation, the same as Bitcoin 10 years after its genesis (2018).https://github.com/mimblewimble/docs/wiki/Monetary-Policy |
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It appears that the Defi experts also speculate more delays. The worse part of this is they do not think Eth 2.0 can solve the problem because of incompatibilites for their dapps to upgrade from Ethereum to Ethereum 2.0. In any case, I speculate I know what project Vitalik and his friends are investing on to replace Ethereum if Eth 2.0 is a nothingburger hehehe. DeFi experts say that Ethereum 2.0 is not the answer to high gas fees
DeFi experts and computer scientists got together on Sept. 3 for Cointelegraph China’s DeFi Marathon event shared their thoughts on the high gas fee potential solutions. Although they have different opinions on solutions, they all agreed that Ethereum 2.0 is not the answer to high transaction costs.
Sergej Kunz, CEO of the oldest decentralized exchange 1inch, Mounir Benchemled, the Founder and CEO of ParaSwap, a middleware layer that connects protocols, dApps and trading venues and professor Alex Kumanovic, co-founder at bloXroute Labs, a blockchain distribution network or BDN that allows global network communicate faster, said Ethererum 2.0 has its trade-offs. It still might not be scalable and secure enough to facilitate the users’ transactions.
The upgrade did not really anticipate the DeFi hype. So, to make sure everyone can get involved, the infrastructure needs to be thought through all over again. Kunz stated that:
“You have to rethink everything. You can migrate smart contracts to the code but it’s not not scalable. To be able to scale, you have to create standards and bring new protocols based on the new sharded architecture, such as NEAR which is similar to Ethereum 2.0.”
Mounir added that even though Ethereum 2.0 could scale, it might take too long for it to happen. The reason for the delay is mainly due to security. The core team has to make sure it's secure enough before launching it given how critical it is.
Kunz, Mounir and Kumanovic all agreed that it is not practical for all projects to move on the Ethereum 2.0 as well, stating:
“For it to work, all applications would need to move towards one single platform. Major projects might have consensus, however for other projects who have their own agendas, it might be hard. New bridges will be built to allow interoperability.”Read in full https://cointelegraph.com/news/defi-experts-say-that-ethereum-20-is-not-the-answer-to-high-gas-fees |
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Bitmex will surely lose a lot of volume and customers and is on course to become a 2nd rate exchange,
its primary advantage was the funding rate swaps which their financial engineering team pioneered for crypto currency trading; but now that other exchanges are also offering equivalent products they might lose the edge, and with KYC and similar corporate responsibility requirements, they are becoming even more run of the mill,
strategically a weak move on their part, as I don't think the world needs yet another politically correct financial institution...
This is funny. What it might do is separate the professional traders from the traders who trade on small volume hehe. I reckon professional traders give their KYC documents without any problem because it is only part of the job. It is the entitled people who trade on small volume who complain and also maybe some money launderers hehehe. However, the real problem here is Bitmex competent enough to secure the data? They have leaked usernames and emails before. |
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@Harlot. Also, this should concern us because if we use adoption as a measuring stick, it might imply that bitcoin's value should be very much lower than where it is presently.
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@slaman29. Also, if the hackers used Monero, the department of justice might not report it because there would certainly be nothing to report. It would be a free advertisment for Monero if they include it hehehehe.
And Monero is not viable for hackers or criminals though, as some top exchanges are delisting it as far as I know since 2018 because of government pressures. So criminals still will love to used bitcoin, mix it up and think that they are not going to get caught by blockchain analysis. Monero are just being used as second tier coins for criminals, like crypto jacking or crypto mining. Monero has one of the highest volumes on Bisq and many popular exchanges also have it, however. Also, why would real hackers act ignorant and risk being caught by using a coin where the government can see all your transactions and by using a centralized exchange where your coins can be taken from you? I am skeptical of this news. |
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@Betwrong. There are individuals on the high level inside the government who are working with individuals on the high level in many different companies that give and take favors from each other. They do not play under the same rules as everyone hehehe. We have to wake up and accept this.
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Just goes to show failing upwards is a thing in cryptoland too. No idea who Mr Rajaram is, but Andreessen could've kicked Coinbase's arse if he'd made some competent moves.
Circle has been a whirlpool of fail. They threw in their BTC retailing shortly before things went mad in 2017. They paid 400 mil for Poloniex, did nothing to it other than making their customers pay for a margin call and then let it go to a penis for peanuts. I presume their OTC did well but that's been sold to Kraken just before big bucks arrive en masse.
Maybe their stablecoin will do something but I'd pay him not to be on my board.
However, he also advises and has influence in other successful companies that manipulate the world every day. Facebook is one of them. This should also be good news to cryptocoin traders. This implies that any token listed in Coinbase might not be included in the SEC's list of illegal securities thanks to Marc Andressen's political connections hehehe. |
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@slaman29. Also, if the hackers used Monero, the department of justice might not report it because there would certainly be nothing to report. It would be a free advertisment for Monero if they include it hehehehe.
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It appears that they have created a derivative as a hedge against what is also supposed to be also a hedge against the corrupt traditional financial markets hehehe. New Crypto Derivatives Let You Bet on (or Against) Tether’s Solvency
After years of debating whether tether (USDT) is fully backed 1-for-1 with U.S. dollars, the stablecoin’s critics and defenders alike can now put their money where their mouths are.
Opium, a derivatives exchange, has introduced credit default swaps (CDS) for USDT. The product, launched Thursday, insures the buyer in the event of default by Tether, the issuer of the world’s largest stablecoin and fifth-largest cryptocurrency overall.
In this case, a sharp drop in USDT’s price from the usual $1 is used as a proxy for Tether turning out to be insolvent. So if the token fell to 70 cents, the writer of the contract would pay the buyer 30 cents at maturity.
It’s the second time in a month that Opium has launched a CDS tied to a digital asset. Such contracts have been around on Wall Street since the 1990s and gained notoriety for their role in the 2008 global financial crisis. Source https://www.coindesk.com/credit-default-swaps-tether-opium |
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@Betwrong. Hehehe, do not trust the official reports. Many of those reports are not 100% true.
In any case, you might say that I am a conspiracy theorist, however, you already know that the government is lying frequently. Why would you not be a conspiracy theorist hehehe?
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@sportsbet.io. As one of the best and trustworthy sportsbooks in the cryptospace, can you offer odds for movie specials and other types of specials betting? The only sportsbook that offers wide choices for betting specials is not very trustworthy. I will not mention the name hehe.
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@pooya87. It might also not only be a pure panic sell. I am quite certain there were whales who might have already known that these mining pools would dump and they dumped together with them. We panic sell because we are the last to know about the news hehe.  The likely suspect behind this latest selloff is miners, as data from CryptoQuant shows that some of the largest pools have been selling their holdings in tandem.Source https://bitcoinist.com/bitcoin-plunges-below-11000-as-selling-pressure-from-miners-ramps-up/ |
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Bitcoin is very transparent by design, never use it for crime.
Agreed. The report also showed that the cryptocoins used for chain hopping were Algorand, Ethereum and Bitcoin. Why? Clearly the coin to use should be Monero. The hackers would be laughing while exchanging them to Bitcoin or fiat. I am skeptical about the report. |
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Is the bitcoin news media always going to reuse this news everytime the price is on $10,500 - $11,000 hehehe. I remembered this old Cointelegraph article that I have read on 2017. Bitcoin is now the sixth most circulated currency in the world, behind five super powers, and outranking the Pound, the Ruble, and the Won, according to the Bank for International Settlements. The figure is based on a value of Bitcoin at $10,765 each, meaning that the total value of all Bitcoins in circulation is $180 blnSource https://cointelegraph.com/news/bitcoin-is-6th-largest-currency-in-the-world-by-circulationIn any case, mining pools are reported to be dumping. It might be falling to 7th and then 8th soon hehehe. |
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The story continues. This time the new victim is India's prime minister hehehe. I was always skeptical of the official story that the sophisticated hack on Twitter was done by teenagers. I speculate that there is something the authorities are not telling the public. Being one of the most powerful men in the world offers no immunity from the tricks and wits of scamsters. This was evidenced a few hours ago after Indian Prime Minister Narendra Modi’s Twitter account was hacked by “John Wick,” a few weeks after a wider attack was orchestrated against the likes of Binance, Coinbase, Joe Biden, Barack Obama, Warren Buffett, and Kanye West. The hacker in the present case “appealed” for donations to the “PM National Relief Fund for COVID-19″ in Bitcoin and Ethereum.Source https://eng.ambcrypto.com/donate-bitcoin-ethereum-generously-says-indian-pms-hacked-twitter-a-c/ |
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@el kaka22. However, the ETF will not be an outlet offered only for small investors. I am certain that it will be the principal outlet created for institutional investors who want some exposure to bitcoin strictly as an investment.
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Maximalists are can be described as a hypocrite that pretend to care about cryptocurrency but in fact they just care at what they invest. They say whatever they say and i dont think they are an expert of the tech at all. I never care to read their tweet as most of them are just rubbish to me.
Agreed! This maximalist has declared that every cryptocoin that is not bitcoin is scam and he has made it appear that holding any cryptocoin that is not bitcoin a sin.  However, he is part of a project that issued a token in Ethereum. Did he admit defeat hehehe? It appears that this is an type of welcome that ERC20 is the standard for token issuance in the cryptospace. |
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I suspect a lot of people don't understand what the 2.0 update includes, or how long this update will take to fully implement (it is a multi-year update). https://consensys.net/knowledge-base/ethereum-2/faq/ Now take a guess which phase a congested network like Ethereum with its rising gas fees really needs ? Which phase will really fix things for its network ? However, that update was promised 1 year ago and had been delayed a few times already. I speculate more delays and Eth 2.0 might not be online on 2021. The phase 0 beacon chain will be released with a small delay, however, it might not develop more than that for maybe 2 years. But it will be good for investors, they can pump Eth 1.0 to have Eth 2.0 and pump that more hehehe. |
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@seoincorporation. That pump in price might only mean that there are people that speculate Eth 2.0 is close. We have seen this many times before similar to the bitcoin ETF pumps then delays hehe.
However, if you are an Eth investor, I understand your excitement. But prepare for disappointment also.
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