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1601  Bitcoin / Bitcoin Discussion / Re: What happens if pools try to maximize fees by congesting the network? on: June 13, 2023, 07:38:06 AM
Both parent and child transactions are unconfirmed, and the high-paying one is the child, so to invalidate the big one, you only need to double-spend the parent. So, you could pretend the mempool is clogged up, but you'd only need to mine one small transaction for invalidating every big child transaction.

Invalidating transactions it will mean it will be dropped out of every single node mempool, so leaving the mempool empty again.
If you try to force the chain of child and parents to remain unconfirmed by a low fee from either of them it will bring the other transactions fee down also.So you can have 1000 tx with 200sat/b if you want to get them stuck like this by having either a parent or child with 1 sat/b it will still bring the average fees down also, so you will be having 1001 tx with  20 or whatever sat per byte and every mempool explorer will see that.

You can't get a valid traction that pays over the next block limit stuck in the mempool, there is no way for that other than all miners blacklisting them.
1602  Economy / Economics / Re: A thought experiment: Inflation's volatility down through two currencys (pegged) on: June 13, 2023, 06:49:06 AM
Thought experiment #1:
- Currency A - 30 % increasing money supply/year
- Currency B - 5 % increasing money supply/year

You're starting with the same thing that people chant like a mantra and think it's true.
Money printing doesn't always trigger inflation and inflation can happen without money printing:
https://www.aier.org/article/three-common-myths-about-money-and-inflation/

Dumping 5000 quadrillions dollars n the street has no effect on inflation if everyone picks them up and buries them in the garden!

The rules are:
- We have an average income per capita. Everybody with an income higer than 0.7 of the average income per capita is just allowed to use currency A.
- We have an average income per capita. Everybody with an income lower than 0.7 of the average income per capita is just allowed to use currency B.

This is no longer socialism is pure economic genocidal madness. Oh wait, that's the definition of socialism.

- It is forbidden to exchange both currencies with each other.

What happens when B buys from A or the other way around?

All goods and services are pegged on the value (A+B)/2 ----- (Currency A plus Currency B divided by two)

Oh yeah, state-controlled prices with untradeable currencies, that worked wonders!

- Every year every person is rated on which currency the person can use.

Why not just shot the kulaks like in the last century? With no rich people around all your problems will be gone, right?

Well, now, that's a 2023-worthy idea!

Is this 2023 AD or BC?
Your enthusiasm reminds me of what went wrong in all those socialist countries, thinking of the poor so much they ended up making everyone dirt poor.
 
1603  Economy / Economics / Re: US Congressman Warren Davidson Filed Legislation to Fire Gary Gensler on: June 13, 2023, 06:18:47 AM
This legislation will force SEC to rebuild its laws against digital assets and will reconsider its acts against tokens declared as "securities".

Where does it say so?

https://davidson.house.gov/2023/6/rep-davidson-introduces-sec-stabilization-act-to-remove-chair-gary-gensler/4029f50c-ad54-49f9-aad1-37826e0cd13c
https://emmer.house.gov/press-releases?id=F9BD4F5B-0C81-4DE5-8F65-E78B064CB060

I can't find the word token or digital or crypto anywhere!
1604  Economy / Economics / Re: I thought there was an egg shortage. on: June 12, 2023, 08:44:10 PM
I have never seen or bought any egg that has the date of production or withdrawal from shelves date. It is strange to hear that we have such regulations in other countries. So to avoid buying unhealthy eggs, most consumers prefer to buy directly from poultry farms or through direct distributors. In the past, I have had incidences of buying rotten eggs just because there are no best-before dates.

Europen regulation from almost two decades ago:
https://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=OJ:L:2008:163:0006:0023:EN:PDF

Quote
Article 9 of Directive 2000/13/EC defines the date of minimum durability of a foodstuff to be the date until which the foodstuff retains its specific properties when properly stored. For the sake of clarity, this date should be fixed at not more than 28 days after laying
‘sell-by date’ means the maximum time limit for delivery of the egg to the final consumer according to point 3 of Chapter I of Section X of Annex III to Regulation (EC) No 853/2004; *Eggs must be delivered to the consumer within a maximum time limit of 21 days of laying)

This has been amended so many times you lose track of it and there were derogations by a ton but basically, it boils down to what I said before.
Oh, and there are some countries with a far larger shelf life, close to 90 days, it's either they have some super chickens or they don't give a rat's ass about public health.

The war in Ukraine meant that around a third of the grain that was produced annually suddenly dropped off a cliff because them and Russia had difficulties supplying it.

1/3 of tradable wheat! Big difference!
Global world production was in 2020 760 million tons, Russia had 85 and Ukraine 24.
Also, as if counted as a whole, the EU is a bigger producer than both of them combined.
1605  Economy / Scam Accusations / Re: This is A Press Release... on: June 12, 2023, 08:14:28 PM
Here's something worth noting: the photo they provide as evidence of their alleged miner appears to be nothing more than a generic rack mount server case, readily available on platforms like Alibaba or eBay, with a clearly photoshopped screen and logo added to the side.


[image source]


Oh god, again those scammers?
I've seen that server rack presented like a miner a dozen times
https://bitcointalk.org/index.php?topic=5365880.msg58189209#msg58189209

So the old scam:
Bitcoin 380 TH/s Litecoin 40 GH/s Ethereum 2.5 GH/s Monero 3 MH/s

The new one:
BM1: Bitcoin 760 TH/s, Litecoin 80 GH/s, Dash 15 TH/s, Monero 6 MH/s

I'm surprised the morons realized ETH is not minable anymore!
1606  Economy / Scam Accusations / Re: IS ATOMIC WALLET HACK OR SCAM? 🔴 Immediately Withdraw your Funds on: June 12, 2023, 08:04:19 PM
Quote
Under no circumstances will Atomic Wallet be liable to you for damages arising out of the services exceeding $50,

Lollllllll!
Anyhow, no everything that is written in a ToS means it's also legal and a judge can't send this to a trashcan, they could write in the ToS that after 10 transactions you must sell them a kidney for 1 Shiba Inu, how would that work?
But pretty interesting, one week has passed, and no update don what caused this quite strange hack,
-why were only 1% of the wallets affected
-why are they only referring to the percentage of wallets and not to the percentage of the sum lost I doubt users had 3.5 billion in total
-legally speaking if they deny any responsibility over the lost funds and custody how can they claim in your name the freezing of such funds from exchanges
-if they didn't find the exploit as they haven't named it why are they not asking the users to secure the funds as obviously, the wallet is vulnerable

Furthermore,
https://docs.google.com/forms/d/1sSFm8VHKm-ifnjCGj-JA2godUWEOtV9tHVeI-DAaqVw/viewform?edit_requested=true
they are asking users for:
Quote
Transaction hashes of the unauthorized transactions:
Addresses WHERE your coins were withdrawn. Please check each transaction and copy the address, where your funds were sent to:
Seriously, even a chatGPT would write you in 10 seconds a script to follow the funds if you ahve the hash, why make it so hard for your customers to fill the report?

Quote
Step by step of what you did before the funds were withdrawn:
Imagine losing a few hundred thousand $, having to fill that field, and refraining from using the word "mom".
1607  Economy / Economics / Re: I thought there was an egg shortage. on: June 12, 2023, 07:20:21 PM
@stompix you are an expert in Europe-related tasks, how are the prices in your country?


I answer your summon!!!  Shocked

Way better than there were before, it was a scare, people were hoarding like morons and now you can get good prices for eggs, cheapest of them the small, not ground raised are going at 30 pieces for 5 euros. Not really matching whatever offer Jetcash got but it's still pretty good, so 6 for an euro.
You go for the biggest size, ground-raised bio chickens it's 3 euros for the 10 pack.
I see a standard for almost every of neighboring countries at the lowest price around 20 cents per piece and something around 15 cents in offers.
Of course, crossing borders to Germany and Denmark, we must raise the levels! Wink

But I see free range at Aldi at 23/stuck so 25% cheaper than you get, although I always forget Sued vs Nord which is the expensive one

Now, if we talk about bulk orders and farm contracts before packing, meh, it's depressing, a quick check on the forum and you can get them below 10 cents per piece but it involves down payments and MOQ fixed term. As my father approximated it's probably the production cost price, but
that's when you get when some morons started importing unreasonable quantities like the world would end. The same shit is happening now with wheat and flour soon to happen with pork meat, but that will take a while, expect a downturn around probably September since exports to China and South Asia are dropping down and probably Poland and Denmark will flood the markets.

Quote
By the way you can't imagine how cheap things are in Turkey. I was there recently and while there is huge inflation, product prices aren't increased that much, for 10 Euro I was able to buy tons of food, I'm really shocked.

If they would increase prices to European levels they would have nobody buying and ending with rotten products, remember they have an average wage of 400$, again, average!

In my place there is no shortage of eggs, but the price of eggs is very high and the price of 1 kilo of eggs is almost the same as the price of 1 chicken

First time in my life hearing about a kilo of eggs!

I thought there was a global panic over egg supplies. Not so long ago they were rationing sales. This morning I bought some boxes of 6 big and fresh eggs for just 21 pence. The normal price is £1.40. It just shows how food prices and distribution is being manipulated to rip us off.

You got an offer on products that are soon to hit their recommended consumption date, eggs have a regulated best-before date that is 28 days and between 5 to 10 days before withdrawing from shelves, so it must at any point leave the customer a least 5 days for consumption depending on the country, stores will be then forced to destroy it like other products in this category, so they've chosen to try and sell it even if it means hurting other batches profit, the management must be in a real pinch with a ton of oversupply there.
But don't get used to it, according to older articles I found online you got an offer way cheaper than 2016 for example;
https://www.theguardian.com/money/2016/may/07/surprising-fall-cost-food-uk-eggs-bread-meat

Quote
Six own-brand medium-sized free range eggs now cost just 85p in Asda and 89p at Tesco, compared to £1.48 in 2012.  The very cheapest eggs in the supermarkets (boxes of six can sell for as little as 50p) also encourage further intensification of caged production methods. On average, farmers receive around 48p for six eggs.
1608  Bitcoin / Mining / Re: The cost of mining bitcoin from large miners on: June 12, 2023, 01:13:05 PM
Miners should really figure out how to use solar properly, improve that tech, then use the sun. There panels out there that can handle decent sized wall rigs so maybe it's unseen thus far?

Yeah, all those miners who have poured millions into data centers and gear are just so stupid and they haven't figured out how cheap solar energy is, they need some random dude on a forum to tell them so.

An S19 burns 72kwh a day, in a scenario in which you get 6 hours of peak sun, remember just because it's sunny outside doesn't mean the panels are producing at full capacity, so you need 15 kWh of solar panels to be safe and 40kwh in batteries equivalent and this is to keep you safe only for one day.
Now google a 10kw solar panel system and tell me how "cheap" that is!

Anyhow, mining revenue per raw th is still 20% higher than at the start of the year, including that is the picture of dropping energy rates all over the world and it stops beings such an apocalyptic future. Remember that at the start of the year, the revenue was almost half of what is now so if miners have survived that they will survive a having even with just a 25% increase in price.
1609  Bitcoin / Bitcoin Discussion / Re: Z Empire controls Kyrgyzstan , We can escape only with Blockchain on: June 12, 2023, 12:51:31 PM
I cant live another way. I see Blockchain Technology is the only way to be Independent from Empires.

And how is Blockchain technology going to help you?

As a guy who lived in a communist dictatorship where the special police could pick you from the street because you wrote some stupid poetry or said bad things about the party at a restaurant and get your ass thrown in jail without a trial, let me tell you this is just daydreaming.
Blockchain si just a piece of technology, it doesn't grant you immunity from the government, all they have to do is gather 10-20 of your revolutionary friends execute them in a live broadcast in a stadium and your revolution is dead!

Quote
I have decided to embark on my own path as a Mandalorian and enlighten the people. I am confident that I will be able to accomplish my vision.

Stop watching movies and face reality!

Quote
Blockchain technology. This technology will make it possible to increase pensions, attract investments, reduce corruption, make elections transparent and secure your life. Blockchain cannot be bribed, cannot be hacked, you cannot negotiate with it. Technology in its very concept is a system that does not allow regulation and control over its functioning from a single center. This technology will bring justice to the system. I have enough political will to introduce something that will not allow a person who is in power to get rich.
In the field of agriculture, the situation is very deplorable, we are destroying the ecosystem, as a result, glaciers are melting, the fertile soil layer is degrading, applying mineral fertilizers, we are changing the ecosystem in the territory.

Yeah right, he only forgot how implementing blockchain will announce the second coming of Jesus, Mahomed and Budha and all three will party till every war in the world stops. How in the name of god would blockchain stop melting glaciers?Huh?
Do you actually believe all the crap people say during elections?
1610  Economy / Trading Discussion / Re: Gambling is different from trading on: June 12, 2023, 12:31:04 PM
Trading altcoins is 1000 times worse than gambling!

At least with gambling you factor in a bit of the difference between the teams or competitors, you look at the background and then you pray to god, and you're all set.

With trading is far worse, everyone is in desperate need of finding a system, of finding patterns, they are lying to themselves worse than gambling that indicators, averages, moving averages, dancing averages, whoe averages will somehow just keep on going like that and everyone will act like a robot repeating everything so their trades will be flawless.
While gamblers lie to themselves about finding ways to get the results right they know deep down there is no way, die-hard traders are convinced by their own lies.

I see so many here saying it takes knowledge, it takes science it takes that and that, common, this is BS!
All your knowledge all your statistics, none ill be able to prevent an exchange from getting hacked and trashing the market, nobody has seen in their TA the collapse of LUNA or FTX, and although everyone preaching about understanding movements here nobody predicted the last pump is, which of course again happened not because of a TA but because of a bank collapse.

So stop lying to yourself, trading shitcoins is way worse than horse betting!

1611  Bitcoin / Bitcoin Discussion / Re: Bhutan's Secret Crypto Investments: A Game-Changing Strategy for Small Nations? on: June 12, 2023, 08:46:46 AM
They don't have the capability nor the technical knowledge of setting up mining grids. This might sound a conspiracy to many here but I believe India is involved here.

So what's this secret technical knowledge that's involved in setting a mining farm?

If you have the knowledge of setting up a datacenter then you have the knowledge of setting up a bitcoin mining farm when it comes to technicals.
You don't need the help of a country when you do this on a large scale because if you place a +million orders with Bitmain you can talk to them on expertise in setting things up. Also, no offense, but India has as much expertise in this field as Vanuatu!

Besides, why would be India interested in Bhutan using electricity to mine when instead they could simply force them to sell all that electricity they have nothing to do with cheap to India itself?

But the fact is that Bhutan has a very small landmass. So they can't build a huge heavy engineering project which can provide employment to their citizens.

Bhutan is the size of Switzerland and Taiwan, just as you can build a hundred dams or smelters for whatever you mine you can build everything else.



1612  Alternate cryptocurrencies / Altcoin Discussion / Re: The US just banned altcoin trading. on: June 12, 2023, 08:29:13 AM
The US just banned altcoin trading ,This is not good news for cryptocurrencies at all.

The SEC charged a few exchanges for trading a few shitcoins.

The SEC is not the US government, the SEC is not god to dictate everything.
Every decision the SEC takes can be changed or overruled in court.
The SEC mentioned 19 cryptos, not 9000 (as it should have done), and never said a word about Litecoin or Dogecoin not to mention Bitcoin.
Cryptos are not only about trading, but god forbid we do anything else with them than trying to get rich in fiat!
Twitter as a source of "news' is worse than pornhub.




1613  Economy / Trading Discussion / Re: 3068 Trades Won and only 1 Trade Lost on: June 11, 2023, 11:46:45 AM
It’s basically impossible to have a hit rate that well. Most likely what he is doing trading with extremely low leverage and basically never closes his losing trades. He probably keeps them open.

Reminds me of an anime I was watching with my nephew.

One of the characters argued that her machine had a 100% success rate, but it turns out she wasn't testing her machines even once because no matter how good they are if they will fail once and work 1 million times it won't be 100% anymore.
Same here, if you're not losing your position it means you haven't yet lost, besides, at x2 if he plays with pennies as some others suggest probably he can exchange a week of beer money for a year of not-closed losses.

How can we discuss a trader if we haven't seen his profile and the deals he has made? Before you ask such a question, you need to first place a link to his profile here. But I doubt that there is such a trader who has 3068 profitable trades against one unsuccessful one.

This is the most annoying aspect on topics here, people who come and say I've seen this and that on some platform, a  friend told, I know a guy without actually showing what they talking about.
I've found a  guy with 100%, and +250 trades and one with 450 but I quit browsing that damn website:

https://bingx.com/en-us/CopyTrading/1158896475034845191/?apiIdentity=0&rankStatisticDays=30&list_id=all&from=1&type=

https://bingx.com/en-us/CopyTrading/1163380660729036807/?apiIdentity=1163607983166013444&rankStatisticDays=30&list_id=all&from=1&type=




1614  Economy / Economics / Re: Child support - A state affair (Tokenization of child support) on: June 11, 2023, 11:25:06 AM
Let's start with the most important part which shows clearly where you're making the mistakes:

Also, 600 billion per year? Lol, yeah! so 1/3 of the budget is made out of future loans.
This is not what I wrote. Read again! (It is the number of expected LIFELONG tax payments for all newborn children born in one year in Germany. - But I guess this is easy to misunderstand, because of the language barrier. But if you want to understand, you can understand.)

You said that 600 billion are generated by the children born each year throughout their lifetime.
I said 600 billion are generated each year and yous aid it's not the same, let's test it:

So in my case                     Your case                                                              
2001  600 billion                Children born in 2001 600 billion in their lifetime      
2002  600 billion                Children born in 2002 600 billion in their lifetime    
2003  600 billion                Children born in 2003 600 billion in their lifetime
2004  600 billion                Children born in 2003 600 billion in their lifetime  

If each generation produces when it's born 600 billion it does matter if you have them upfront 600 from one or you get it by year in which it means 10 billion from each of the 60 generations, which adds up to again 600 billion.
It's math not analyzing plasma radiation in a toroidal field.

Read the news to this topic!

If I were to read any doomsday piece of news I would be in a mental hospital by now, but miraculously I've survived 3 economic crises, two getting off the Earth, one loss of ozone lair, three wanna be 3 world wars, the death of the euro and the dollar, the rise of the apes and many more. And!! I do live in Europe and I do have a kid and I know what I'm talking about!
If I were to compare how I was raised and how I raised my own it has been 5 times easier and I afford to give him a ton of stuff that probably only 1% of the kids in my time had, but some do need to see disasters and the end of the world at every step.

This is so wrong. Currency is stored work-time, and when you have more people, you have more work-time. But in this simple construct there is no devaluation, the one who is working is eating for one, the two who are working are eating for two, and three for three, and four for four,

No, that's not how it works, what you'e referring to is GDP, GDP is not currency and it does not influence directly the monetary mass.

..... So of course, in this simple construct - and your response is very simple/populist - you can create children out of (nearly) thin air, and so is the work-time increasing, with which will produced more goods and more services consumed and used by this more people.

Your words, not mine!

It is good that there are other payments for children, but this is not what my topic is.

I got it, your topic is about imposing your views, not discussing, then have fun with your monologue!
1615  Economy / Scam Accusations / Re: ai-tech.io is scamer (new changed to aitech.io) on: June 09, 2023, 03:02:18 PM
So, their ann here was talking about a 10k NFT collection Meta Battlebots
The link and website are now dead: https://metabattlebots.com/

Two of their team members were twitting last year about another 10k NFT collection:
The website is now dead http://lasthopium.io/

They were paying last year for articles and press releases like this:

Quote
To ensure outstanding performance and functionality of the Metaverse, Solidus is building a multiplayer 25km2 cutting-edge 3D/VR Metaverse Play2Earn/Play2Burn shooting/FPS war game in Unreal Engine 5. Players in the platform Metaverse will be able earn AITECH tokens by simply partaking in the game. These AITECH tokens can then be used in the platform market place to buy more weapons & skins that will upgrade their Battlebot.

Now they claim;
Quote
AT SOLIDUS AI TECH, WE HAVE COMPLETED THE MAIN BUILD OF OUR DATA CENTRE AND ARE READY TO COMMENCE THE INSTALLATION OF OUR HPC INFRASTRUCTURE WHICH IS BASED IN EUROPE (BUCHAREST), WHICH WILL SIGNIFICANTLY HELP TO BRIDGE THIS GAP AND WILL ENABLE EUROPEAN COMPANIES TO OBTAIN THEIR SUPERCOMPUTING POWER WITHIN THE EU.

So, bullshit and vaporware.


1616  Bitcoin / Project Development / Re: Double-digit monthly returns w/ audited records on: June 09, 2023, 02:41:59 PM
Are you serious?

Yup, he is!
One fool and he's set for life if he lives in a cheap country, it takes him 10 minutes to spam the forum (he has 6 other deleted posts) and he can try in his free time to sucker somebody if not out of $250k at least $2.5k, still beats 3-4 months of hard work.
Anyhow, you're late to the party he's long gone, seems like he didn't find any victim here.

Oh, and btw, he already had 7 million under management, $250k is peanuts for him!  Roll Eyes
https://ninjastic.space/post/62248281





1617  Economy / Economics / Re: Dedollarisation fails before starting, Russia and India halt rupee trade on: June 09, 2023, 02:32:26 PM
At this point, the whole dollarization is just becoming one huge funny fail that shows what a clusterfuck this selc called whole new world order is.

So, we have Russia that wants to sell oil to India but it doesn't want rupees, since you can't do shit with rupees outside India.
Russia wants Yuans because it buys stuff from China, but India doesn't want to use the currency of, guess what their fellow BRICS member but also their economic enemy and even more, a country that wants a piece or more of land from India. Quite the solid alliance, right?

So, what is the way out of this mess?
They will use the UAE dirham! Glory! Victory! The dollar is dead!
But..
The UAE dirham is basically pegged to the value of the USD, so, they are back using the dollar as reference value.

Imagine what's in their mind when after all that propaganda they were forced to basically get their tails between their legs and return to trade in currency which basically reflects the value of the $ and is subject to any variance triggered by actions in the US. I'm curious if they will try any other move for a while after getting humiliated in such a way.


1618  Bitcoin / Mining / Re: El Salvador to develop mining farm Using Volcano Energy on: June 09, 2023, 01:44:55 PM
They name it like scary monster  Grin I just imagine how they drill the volcano

Clickbait, but that's how you win the audience in crypto land.

Sounds very dangerous to me. This sure would need expert engineers to make it happen. And presumably this volcano is active? I can already see the laughters of Bukele haters if all these go south.

On the otherhand, this is also big if they can make this safe and work. If its successful it,wouldn't be surprising to see other countries with volcanoes try also.


It's not dangerous, it's not something new and definitely not a scientific breakthrough.

Salvador already has geothermal powerplants that tap the heat in the soil generated by the volcano, they already built in 1975 and it was done using US and Japanese technology, there are plenty of countries who already use this, again, Bukele is making a big deal out of nothing.
Philipines, Indonesia, Mexico, New Zeeland, USA, Italy, there is one operating 10 miles from an active volcano in the Hawaii
https://en.wikipedia.org/wiki/Puna_Geothermal_Venture

Nothing dangerous, nothing out of the ordinary.
And what's more important, while it's called volcano energy, it's actually a solar farm, see the link above.

1619  Economy / Exchanges / Re: SEC sues Coinbase for listing securities on: June 08, 2023, 01:50:39 PM
But if you ask Gary Gensler, I am sure that he would tell you that every cryptocurrency is security unless proven otherwise. Cheesy

I don't know why everyone is angry at Gary, from a maximalist point of view he is the best we can get
- the tokens above shouldn't be labeled securities, they should be called shiteries, just dumped them
- he has numerous times stated that Bitcoin alone is not a security
- he has called out the centralization in what we want to perceive as a decentralized ecosystem, including in the Defi
- he doesn't like CBDC, and I don;t think any Bitcoin user does

So, what is really to hate about him?
The thank that he told the biggest two manipulators in crypto to stop issuing shiteries and pump and dump schemes?
That he told exchanges to stop messing with user funds and separate deposits from investments?

Quote
“We don’t know who Satoshi Nakamoto is yet, who she, or he, or they, were. It’s a field built off of sort of a concept to not use centralization even though finance since antiquity tended toward centralization. To be decentralized, lack of authorities, anti-commercial bank, anti-central bank, a worldwide off-the-grid approach. And yet it very much relies on the law when they go bankrupt and they’re in bankruptcy court. And you know what we’ve seen.”

Everyone who is against his views, do you have a problem with the above? Like what, I'm curious!
1620  Bitcoin / Bitcoin Discussion / Re: Bitcoin transaction fees are too high, obstacle for adoption and in general on: June 08, 2023, 01:18:20 PM
The other coins have failed because they failed as an investment tool, what they offered was simply in no demand.

What they offered was nothing, they only promised high tps blockchain without actually demonstrating that it has the claimed capacity while also remaining decentralized. And of course the developers never had interest in delivering, they already got filthy rich from their premine.
If there was a coin that had better scalability than Bitcoin without any downsides, it would have been still alive today at at least $2 or #3 spot and slowly replacing Bitcoin. But there is no such coin.

And this shows basically that the price is more important than usage, any normal business that would have experienced this type of congestion would be bankrupt, a bank raising the fees this much would be left with no customers, but since crypto on-chain usage is like 1% of the importance of trading and investing, here we are. And here we will be at the next spam wave since nothing is really being done.

That's a tough problem. The problem with all the digital money systems (both crypto and fiat) is that its highly dependent on data traffic volume and data processing power. So increasing number of NFT minters loads all the mining facilities, so that it becomes impossible to make transactions in time.

That's not how the network works, that's not how sanctions are being confirmed.
It takes a script that can run on a Pentium 1 to generate 10000 ordinals, it takes the same hashing power to create a block right now even if it's empty or it has 4000 transactions in it.

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