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July 01, 2024, 05:44:34 PM *
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1  Bitcoin / Bitcoin Discussion / Re: can Bitcoin provide food for our table on: September 01, 2023, 09:34:48 AM
Bitcoin is a medium of exchange, if you buy it for low and sell it for high yes it can put food on the table. but its a ridiculous question to ask. Can you ask in Europe Can US-dollars provide food on the table ? Yes it can if the shops accept it, similar like Bitcoin, you can exchange it for goods, but without an intermediary like a government but a decentralized network of computers securing your transaction to be immutable - cannot be altered. When bitcoin becomes a standard and is globally accepted by every individual it will be the new generation of people's money ! Roll Eyes
2  Alternate cryptocurrencies / Altcoin Discussion / Re: Is exchange based tokens worth for hold? on: September 01, 2023, 09:21:08 AM
It depends on the exchange. We've all seen what FTX turned into from one of the most reputable exchanges to going awol. Even the best exchanges make mistakes and disappear for a variety of reasons. When that happens their coins turn into garbage. Currently Binance appears to be the largest exchange and BNB has really paid off for its early investors. CZ seems to be untouchable in the market, but we all know what will happen to Binance if something happens to him. Don't trust anything about centralized exchanges much.

That's absolutely right, these exchanges launch a token which seems to replace trading fees in fiat money where they hold majority of the distribution launch it in DEX and get profited, While these exchanges work better due to flexibility and the speed of executing millions of orders a sec that doesn't mean they can confidently launch a centralized token and force its users to use it in their services, while many take bet on holding these exchange tokens, while we all know what happened to FTX, in the world of falling tokens like LUNA can we expect a centralized coin to not fall? Going for bitcoin is the only better option as its the perfectly decentralized hard money to hold. CZ's fame is untouchable due to the fact that binance is hugely popular and by running a POA based centralized EVM network, they are hosting thousands of "D"Apps which are not "D"ecentralized and running on a centralized coin. Satoshi left bitcoin for a reason that a decentralized people's network shouldn't be influenced by a single/group of persons that hold authority or creator affiliation to it, while we can see a lot of individuals making blockchains for public good but claiming the authorship or influence to it. Bad world, bad ethics, bad ethos, wonder what would satoshi think of the world he created and how its going now. Undecided Undecided Undecided Undecided
3  Alternate cryptocurrencies / Altcoin Discussion / Re: Opinion on Cardano on: August 28, 2023, 03:34:15 PM
Few Things to Consider while evaluating Cardano

1. Firstly it is launched by Charles Hoskinson, one of the co-founders of Ethereum who left the organization due to the fact that Ethereum is non-profit based
2. He created IOHK which is a for-profit organization which is behind the Cardano Project
3. Cardano uses UTXO model for its smart contracts and allows devs to write in Haskel which is a functional programming language
4. While its considered that UTXO is good for parallelization, but it is not better to create arbitrary programs like we do in Ethereum
5. Due to the fact of Haskell's complications, slow updates by the development team there is no chance that new developers might develop on Cardano, only big teams granted funds by IOHK or any other bigger organization that was compelled to build on cardano for its ecosystem may be
6. You cannot expect a new DApp coming through cardano, so there is less to no innovation (in the smart contract side)
7. While these are the concerns, Cardano's node completely written on Haskell is very secure and might be the best language to write client node !!!
8. They have roadmap for a payment channel system (Like lightning network), also updating their smart contract language
9. There was this concurrency problem in Cardano which was as expected by anyone who understands UTXOs that they are individual outputs.
10. They provide same smart contract functionality like Bitcoin-SV which tells Bitcoin Script can do similar programs like ethereum, but they may not due to the fact that Bitcoin and Ethereum are two different account models
11. There is no major Bitcoin-SV adoption so they say they are partnering with countries, governments, etc, etc which exactly cardano does.
12. there is a good future for ADA since it is a bit matured and has a good community as opposed to Bitcoin SV and it has a noteworthy founder.
13. But I can see no newbie developer adoption into its smart contract framework as it is based on UTXOs and needs a seperate design theory to develop applications.
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