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Ψόφησε το Steem ή μου φαίνεται;
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Living things are unstable by nature. Just like the climate, for example... the planet is constantly evolving (natural equilibrium). Only dead things are stable.  |
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Fundamentally, I think the issue is just with how brazen these creeps have become. They're not worried about losing a lawsuit here or there because they think (correctly?) they're immune. The people they're attacking don't have that comfort.  Pedophile or what?  |
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Plot twist: Russia & China hoard BTC secretly @ 19-20k USD. And I reckon in 2026 we will have a new bear market thanks to the China-Taiwan war, which will probably instigate WW3 (West vs China).  It doesn't matter if the Russia-Ukraine war ends... |
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Even if Binance confiscates their ASIC miners in 18 months from now, is that such a big deal?
I mean, we know that due to Moore's law transistor count is doubled every 18-24 months, which means that even cutting-edge microchips become obsolete pretty fast.
Binance can have 5nm ASICs if they want, but I reckon they won't be very competitive in a couple of years compared to 3nm chips.
Am I wrong? Unless they ask for a more valuable collateral (like your house, for example)...
ASICs are temporary, everyone knows that. Nothing of value will be lost.
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Binance is no saint. They are definitely doing this for the money.
I do not trust centralized entities like crypto exchanges. Their existence is completely redundant and they go against the very principles of decentralization. crypto exchanges are the enemies of decentralization. Storing Bitcoin on an exchange wallet is not safe. The end product resembles a government regulated lock-up of our money. It's dangerous because it means your coins are no longer in your control. If you live in a country with an oppressive government; they will simply confiscate your coins for whichever reason they like. And crypto exchanges in those countries will not hesitate to give them access to your coins while freezing you out of your account.
But you can't deny the fact that there are many crypto users who are benefitting the services of centralized exchanges. Not many are only using decentralized apps because at one point, you also need the centralized exchange.However, storing your coins is another story. It depends on you if you will store your coins on their exchange or store it in your own wallet. This initiative may benefit binance but just think of miners who really want to get a hold of these funds. It will be a win-win situation for both sides. Just keep in mind that we need bitcoin miners for the bitcoin network to survive. No. You really do not need a centralized exchange to trade, buy, sell or transfer your coins. This is an absolute bullshit comment. There are much better ways to buy Bitcoin or other coins and trade said coins for other coins. We absolutely do not need centralized exchanges just like we do not need banks. They are the lazy man's (or woman's) tool. Its easy to use a centralized exchange to buy Bitcoin from your centralized bank account. Thats why people do it. Its easier. You could just as well use a decentralized p2p platform like Bisq. Or you could even buy with plain old cash. In some countries you do not even need to worry about giving anyone your identification when buying Bitcoin unless its an absurd amount. So why would anyone "need" a centralized exchange? You need it if you want zero fees -> max sat stacking. |
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Awaken from your slumber and allow me to correct you. Some people were even more bullish.
That prediction is from December last year, when everyone was giving a lot of bullish predictions that have not come true. Even Michael Saylor was giving predictions like that one and now he has become a bear.
No, you seem to be in some kind of slumber.  Did you read the WHOLE tweet? That guy predicted the Ukraine invasion, EU energy crisis, 20% inflation etc. Back in 2021. And yet, you didn't even comment on it. Read it again... If that post is as original as it was posted without any editing functions, I would say whoever it is has a crystal ball since almost all that is on that list has occurred, but then again it is hard to trust things like this as it is very easy for people this days to edit stuff. But the btc prediction though is quite high if you ask me, even if such a prediction can happen, it will certainly be for the very long term. Twitter has no edit function so far. Also, 10 million USD assumes hyperinflation (again: read the whole tweet), so it could be the equivalent of 1 million USD of today. Not bad if you ask me. |
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Quality posting content? Sounds interesting.
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they'll send debt collectors after you Good luck with that... |
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It poorly calculated risk!
Why take a long at 10% interest rate when you could simply take a normal loan from a bank at 5% and buy directly bitcoin if you think it will increase 10x times?
Oh, wait, why even bother mining at a revenue of 6cents/ths when you could dump the gear and buy coins directly? I don't recommend BTC ASIC mining to anyone. This is just another profit-grabbing scheme from Binance that will put into bankruptcy everyone who falls for it. Everyone is here to make a profit. Nothing wrong with that. And following this logic, if one satoshi reaches 1 million, how are you going to get your change when buying not a coffee but a car? That sounds like hyperinflation/hyperbitcoinization to me. |
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Awaken from your slumber and allow me to correct you. Some people were even more bullish.
That prediction is from December last year, when everyone was giving a lot of bullish predictions that have not come true. Even Michael Saylor was giving predictions like that one and now he has become a bear.
No, you seem to be in some kind of slumber. Did you read the WHOLE tweet? That guy predicted the Ukraine invasion, EU energy crisis, 20% inflation etc. Back in 2021. And yet, you didn't even comment on it. Read it again... |
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Rich people get the most benefit from taking out a loan.
Poor people are enslaved with debt chains.
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What will happen if someone wants to move an amount, and pay 1 sat as a fee, given that 1 sat is valuable? I assume almost everyone (including miners) will use LN by then, not on-chain transactions (they will be too expensive). The history of money has taught us that a currency always starts in a pure form and then abstractions get added on top of that. Whether it's fractional reserve money, electronic fiat money or LN. LN already adds 3 more decimals, so... If BTC becomes so popular, 7 txs per second means it will be very rare in a world of billions of people to do on-chain transactions on a frequent basis. I think BTC was designed for the average connection of 2009, which is a regular ADSL @ 1 Mbps (upload). By 2136 almost everyone will have FTTH, so block size could be increased with no repercussions. There's even a parabolic hyperbitcoinization chart which shows that 1 BTC could even reach trillions of dollars each. So 1 sat could be worth 10k USD or even more. By 2136 we may have colonized the galaxy if Elon's vision becomes a reality, which means that even gold could become abundant, let alone food/energy: https://theprint.in/opinion/giant-asteroid-has-gold-worth-700-quintillion-but-it-wont-make-us-richer/260482/"the minerals contained in asteroid 16 Psyche are said to be worth $700 quintillion — enough to give everyone on the planet $93 billion"Gold hyperinflation is possible, but we will need better mining technology. BTC is capped at 21 million, but you can always introduce more subdivisions (on-chain or off-chain). |
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