ln msats
liquid Lbtc
binance wbtc
etc

they all will de-peg when they reach a x% userbase threshold.. its a waiting game of when not if...
and it wont need government intervention to cause it. the loyalists of the altnets will happily do it to themselves in  efforts to make their altnet appear more utilised

heres the expectation

stage 1. print a trillion dolars and spend it knowing it has to hand back $1.X trillion in 10 years

stage 2. if $1trill is 500bill loaves of bread now.. inflate currency so its only 100bill loaves of bread

stage 3. create a CBDC which convers $1 to 0.1CBDB USD
so each $10 (1 loaf of bread) is 1CBDC USD

then stick to the termsheet of the 'print'(QE)
hand them $1.X of native $$ bank notes which are worth only 1X0bil loaves of bread. and not 5X0billl loaves

thus end of story results in having value to make things for equivalent value of 500billion loaves of bread but only have to pay back 1x0 bil loaves of bread..

and thats how when inflation happens people should not hold onto dollars and instead buy things or use a low rate fixed loan to buy things.
its why banks put interest up to tempt small poor people awy from taking advantage of the cheap value

blocks are maid on average every 10 minutes.. by him getting a confirm in less than that means he paid optimum fee to ensure he got in the very next block.. so its not a fee issue.

paying more would not result in any faster time then the next block

emphasis to all responses about fees.. ITS NOT A FEE ISSUE.



bitcoin confirmation is the equivalent to wire transfer settled on your/recipients account, not tap and pay debit card 'pending' on your statement.

what your not realising is when you use tap and pay debit card. if you look at your bank statement you usually see the amount in a "pending" column where it takes a day to be in the settled balance column.

bitcoin can be seen by merchants as pending(unconfirmed) and accept a transaction as unconfirmed in milliseconds. but like debit/wire transfer the actual settled account(confirmation) takes longer

for fiat its 24 hours in most cases. .. for bitcoin its about 10 minutes.

if you are buying something small. many merchants can take the risk of accepting tap/pay or bitcoin while pending/unconfirmed. but some that want larger amounts like rent/mortgage payments wont accept it as paid until the funds are settled.

EG places dont accept your rent/mortgage is paid if you hand hem a signed cheque unless that cheque has cleared 5 business days later.

bitcoin wont replace the institutional reserves of the world government collective..
its just an open option for random people to choose

however china's GDP increased due to covid threatening throwing US off the top spot which is why US done the QE to add in fresh printed money to bump up the GDP to stay at top.

US wont want to lose the top spot even it if means inflating the dollar and then tweaking the FOREX rate of yuan to look like china is less each time.

these next 5 years will be interesting though.

in the end it wont matter if its UK, US china or some syndicate of numerous nations using a whole new metric.
bitcoin wil remain as a extra option away from that game

he cant change the rules of all network node users. but he can change what he sees in his local copy. but thats just him having his own stack of blocks he and he alone is following. whilst everyone else rejects that bad block that doesnt follow the rules. and they instead receive good blocks from the other 49% that they decide to keep



correct.. unless he can convince other people to download new edited/updated software that he tweaked to meet his new rules then they will join him on his altcoin. he would then have to try to convince merchants/exchanges to accept that altcoin too to then be able to spend/exchange his altcoin coins

he cant change who YOU have signed YOUR transaction destination of funds to go to..
instead when he goes back to edit the confirmed block. he can just remove the transaction and make it unspent.. (unconfirmed) once he catches up and makes his chain the re-organised default chain that includes the block without your 10btc transaction.. then YOU can spend your coin again..

there is no advantage to him.. so he wont do that. he would probably want to re-exclude one of his transactions he already spent. thus he could double spend that and gain/profit from his effort.

however. the cost to mine so much hash just to edit out a transaction.. that transaction better be of large volume to be worthy of the effort


empty blocks is and can be annoying and cause chaos. but what is gained from that apart from some drama.
if people cant move their funds then it negatively affects the market price thus ends up costing the scammer in the long run


its no longer CPU power. nor GPU, its now ASIC power
a CPU is about   50,000,000 hashes
a asic is about 140,000,000,000,000 hashes (140 terra hashes)

the network on average has about ~1.5m asics which if it was CPU standard would be 4-5 trilion PC's

a history and real life lesson
bitcoin is deflationary. less are produced over time.. tulips are inflationary more are produced over time. so you cant compare the two

even today people buy and sell tulips, and they make profit from it. tulips today has the same underlying value and values as it did in the 17th century.. its just inflation and the sentiment of the speculative price above the values has changed.. .. go to any garden centre for research, you will find them being sold
yep tulips didnt die 300 years ago..

and by the way.. just a gentle reminder. market price is not intrinsic value..

also the "mania" was not involving regular tulips being sold for house prices.. but a unique breed that only 1-2 were sold for house prices. and millions of other regular tulips sold for normal prices.
the then owner made his money back by producing more from the ones he had. and as inflation suggests when creating more the price/value goes down.
EG if the first ever chicken egg=1chicken and that chicken makes 1000 eggs. you can sell the 1000 eggs for 1000th less each and still break even to your initial cost.

oh and another little hint..in recent years an orchid (a plant) sold for the price of a modern house. so its not just the 17th century one time event that plants sold for house prices only back in the 17th century.. "plant mania" continues on even in recent years.

during a recession especially. people want to store wealth on deflationary(buy to hold/save) and spend wealth on temporary things now on inflationary things. because holding fiat is going to lose them value long term.. holding bitcoin is going to save them value long term

anyways. as to the other points.
as long as bitcoin has utility(function) then there is usefulness and desire. this then has a functional cost of making blocks. which causes people to then mine blocks.
bitcoin would need to have a massive death bug that kills all function for people to give this up.

you will find as millions of people have learned over the last 13 years. is. if there is money to be made. and a competition over that money. the costs increase which in-turn cause the willingness to sell for higher prices plays out.

now some lessons on inflations and deflations..
bitcoins market price is not a factor of value based on a buyers willingness/amount they want to spend. because a user with less fiat can just buy less decimals.. because a seller refuses to give away whole units for less $ cost
(much like the average market order of 2013-17 was $400 which netted people on average 1btc.. )
(much like the average market order of 2020-22 was $400 which netted people on average 0.01btc.. )

peoples regular/average spend has not really changed. but the decimal they get has. because the SELLER refuses to give away whole btc for $400, even if the only money a buyer has on offer is the same ~$400 average
(you notice this when you go to retail stores and see how chocolate bars seem near the same price as a few years ago. but looking closely. the weight of each bar is less. yep multipack snacks seem the same price but you get less snacks per package).. notice how mcdonalds bigmac beef patty has got a little smaller in circumference and thinner but the price looks the same as it did 5 years ago..


a true factor that can affect the economics of less desire of bitcoin is not the market price.. its the transaction fee(utility). if the fee is too much then the utility/desire to use it drops.. so dont think its the market price that will kill bitcoin.. people can just buy decimals.. its infact the transaction fee that can kill utility(excluding a scenario of a unfixable bug that stops utility(less likely scenario))
..
you usually see altnet loyalists shout out how bitcoin is dead, cant scale, wont survive not useful for daily use, too expensive for the unbanked.. but thats because they want people to use their altnet instead and dont care about bitcoin and, well basically they dont understand bitcoins potential or utility in the first place. nor do they know or care about bitcoins values or underlying value. so pretend it has none.. but thats a flaw in their understanding.
..
have a good day doing research.. but please do go to a garden centre and buy a tulip. because i really think you forgot that tulips survived the test of time and that there are some breeds of plants even 300years after the mania you are unsure of, still happening today being sold for high prices. but please do your research about actual details of tulip mania because you have it all wrong and backwards

oh last reminder. the market price is not the intrinsic value.. so please again dont confuse the two. and dont assume because the market price is not the value, foolishly(in your mind) think that it means there is no value.. because there is value. you just have to look for it

seems someones missing a few basics about economics..

what im about to say is directed more to hardfacts. but i thought id knock two birds with one stick
(looks like these two are already stoned. so ill use a stick)

if it really was true power for the buyer to choose at their whim.. the buyer would want to pay less.. every time
nothing would be worth more then a weeks salary. iphones PS5 wouldnt be selling for more then $200

but.. here is the the wake up lesson
buyers dont have the sole power/discretion/price control. so its not a case of the price of something is only worth what people are willing to pay..

i think you are confusing where the current ATH tops out at.. whereby the ATH is the point at which there are no more buyers wiling to pay more as your misunderstood belief that value is just what people are willing to pay. because you think value is the price people do pay, until they stop.


but dont confuse market price with intrinsic/underlying value
put it this way... if it
physically costs a farmer $0.50 to grow enough wheat for a loaf of bread
physically costs a bakery $0.10 to bake the dough into bread..
physically costs a truck driver $0.01 to deliver a loaf to a retailer

the bakery will not sell it to a retailer for less than $0.61
if the retailer has all its stock/shelf fillers and cashier labour costs and profit margins to meet share holders expectations. and refuses to sell for less than $1.50.. by putting a price ticket up for $1.50
guess what. a customer cant just say "im willing to pay $0.50, so heres 50cents, im taking the loaf, thank you, bye"
a retailer would rather call the security guard over and stop that customer leaving with the loaf.

the customer is instead going to pay what the retailer offers... not the other way round

breads intrinsic value is not the $1.50. . (the market PRICE is not the intrinsic value.. )
the intrinsic value (in my example) is somewhere above $0.61 but below $1.50(i never mentioned retailers true minimum costs added)

there are value(economic) and there are values(sentiment, desire, utility)
the intrinsic value(economic) is the underlying base cost that no one would sell below.

bitcoin does have an intrinsic value. and its not the price. its below the price. its the baseline no one sells below due to what is achievably the minimum cost on the planet anyone is willing to use to create/acquire something to then sell for.
dont confuse it with the PRICE which is normally the most people are willing to buy(variable).

the values(sentiment, desire, utility) may bring it into life to be wanted/needed which is the first trigger to then get the producers to start producing more/better/more difficult/stronger version.. . and as the sentiment/desire increases, the price increases which then allows the producers to make something better/stronger/more difficult to produce which raises the intrinsic value
but there is always a buffer between the lowest cost value. and the lowest price(the added profit/sentiment of speculation/values)

the values(sentiment,desire) is the speculative layer above the underlying value(economic) where by if demand and desire is good, they can speculate to add more premium speculative amount on top for more profit.

bitcoins price is multilayered.. the price itself is not 100% based on whimsy
yes bitcoins price is not the intrinsic value. but that does not mean bitcoin doesnt have one

washington is not in Louisiana last time i checked.

..
anyways..
before today businesses could be custodial services anyway in many many states.

Louisiana followed the NY bitlicence scheme where businesses had to register as a "money transmitter" to be allowed to operate.

this bill is not ALLOWING custodians to be wild west do as they please(as was the case before 2020). its actually a bill about calling them money service businesses(money transmitter licence) and getting them to follow money transmitter business regulations whether its fiat or crypto, if they wish to start offering such a service.

whats actually changed since 2020 is that now institutional banks can now apply for this 'bitlicence'-esq permit to operate crypto custody/services

the trimester system is a valid system as it has 3 phases that fit actual biology and science

the first 12 weeks(3months) first trimester is where a pregnancy is most likely to not progress into an actual birth. the miscarriage rate is high in the first trimester. the risk of fetal abnormalities occur mostly in this trimester, its why women dont like to tell alot of people they are pregnant until they get passed this risky timeperiod threshold.

the start of the 3rd trimester is the point at which the fetus, if born prematurely or via emergency c-section has a chance of survival.. where as before this point it is considered not viable to survive outside the mother.

so upto the point of the end of the second trimester means the mother is in full control of the life support of the fetus, where there is no independence of the fetus without the mother. the mother is in full authority of the life support.. because SHE IS THE LIFE SUPPORT...
and just like being a medical proxy/next of kin for someone in a coma on machine life support ventilator, the family with the power of medical decisions about interventions or DNR has the power to choose what is right or best on behalf of those on life support where they wont survive without that particular life support

its her body, her decision.
after the third trimester. there could be options of c-section then put it up for adoption or continue pregnancy and put up for adoption..
but that option is not available in the first 6 months. the only option is abortion if she chooses that she doesnt want her body to have a baby (for many reasons)

its not murder if the fetus wouldnt live without the mother anyway.
just like DNR and switching off mechanical life support machines is not murder for people that are in coma/brain dead


poled with a stick?.?.? are you a time traveller from the Victorian age where you hear about the 'back room' abortions woman go to because they lack having a proper medical assistance so try to perform it themselves with a friend that found a random stick?..

i hope you do realise what modern abortions are compared to your Victorian views..
let me guess you think appendix surgery is done with pair of rusty scissors and a coat hanger too

i guarantee you, that no modern abortions performed by a doctor trained in abortions is done with a stick

think about it more deeper then that.
as what you say sounds like people have just come up with a random number they are willing to pay, and paid that. meaning bitcoins value is just random number..

this is wrong.
the market PRICE is random. no one can predict what its going to be tomorrow..
no one pays the exact same amount as another person..
but this is the PRICE.. not the VALUE

so think deeper.. not at the price.. but at the actual value backing it underneath.

same with houses its not the random house market price of whatever house is being sold at any given minute.. its value is based on an underlying minimum value no one would sell their house for less in the region/planet more long term.. (the comps bottomline)

if the minimum comp for the entire planet is 10 hours min wage/sq foot.. then all houses on the planet are above that in price.. so the underlying minimum value backing all houses is atleast 10 hours min wage labour/sq foot

yes some people might personally value the coin more but the overall min value of the entire economy. that number that no one can sell below.. that is the whole economy value amount that backs it all.

above that is the speculative more volatile extra amount added on

i think what the summarised answer(in question form analogy) to what the topic creator is asking is:

why arnt house prices fixed a stable square metre amount that all houses are backed by

totally forgetting the features and utility of what a house is and does and forgetting that people in different regions have different supply or demand. even if a house ultimately on the market does show houses do have value and when comparing the square metre 'comps' per year shows a more stable value rate than the volatile market price of houses sold each hour of the day

in short the market price of each house sold hourly is not the same as the average/minimum comps. but that does not mean that houses have no underlying value

a house does not need to be backed by gold or pegged to something else.
its intrinsic underlying value is the 'comps'
bitcoins underlying value is the mining costs (asics and electric)
golds intrinsic underlying value is its mining costs (diesel, digger and sluice machines)

the price is then the speculative buffer/layer of cheap or premium volatility amount above this underlying value that backs it

SCAM
also disney wont like you brand stealing and associating THEIR brand with a scam.

logic and common sense of decisions plays out as

wanting a currency that deflats(halfs its release amount every so often but not too quick to cause chaos and also not run out of coins once hitting total supply too quick

he chose 33bits where removing one bit off the end per sesion halves the amount of units it converts to in normal human readable numbers meaning 33 halving events.

then the next logic was the halving events should be not weekly or monthly or yearly but ~4 yearly so that after 33 sessions it means it would take over 130years to get to total supply cut off

the next logic decision was the binary conversion to of 33bits was a large number of units
8589934591  which seemed a huge number of units to offer. so decided on the decimal of 8 (/100,000,000)
85.89934591
logic shows the halving would cause issues right from the start of halving a 1 and next session halving a 9. where by some value is lost immediacy by rounding
so decided a more even number to start so chose the 50btc as a nice number

by which point if working out that, the halving at 210k block intervals =21m coins.

it was then logic dictates how fast that would be by realising 210k intervals if 4 years was the goal per interval
would mean 52.5k per year, 2019.27 a fortnight (bad decimal amount(cant have .27 of a block))

logic decision again to put in the 2 week adjustment(difficulty formula) to try to keep it to a nicer round number of 2016 blocks a fortnight, which then calculated down to a block ~10mins which seemed a reasonable amount of hard work time to create a block and send it around a network without causing issues with data broadcast delays between peers

they also make hidden profits from arbitraging that spread via other exchange vaiances of the other exchanges spreads
but this requires them having locket asset(fiat/coin) on stable coins on their side of their balance to be able to make them oppertunities.

when they see their exchange go down in price(bottom end of spread widens down). those few milliseconds. they can buy coin cheaper. use the stablecoin reserve on their side to push value to another exchange. sell at the exchanges higher price (before the other exchange follows price down). take the extra fiat via a fiat stablecoin back to theirs and buy more coin.

..
you notice this happens because if exchanges were independant and separate with totally diferent customer base of people. the prices would not sheep follow each other exactly in such a short period of time.
by exchanges sheep following each other quicker than normal users can move between exchanges, shows that arbitrating happens alot

but this scenario, like i said requires them being balanced to have available reserves on their side to perform such activities.
if all the balance is heavy at other exchanges like coinbase then binance cannot use much to push to coinbase.

so thats why they offer zero fee's to users to try getting users bring that balance back to the binance side so binance can use it for its own purposes... and also to unlock some of that reserve out of the stable to be open as real bitcoin network value to use for real custodian balance to honour real btc withdrawals (in times where recently low on btc reserve)

basic history lesson of the last month of events
due to the luna fiasco, and the subsequent bankrun on btc, this caused a depletion of BTC custody of cold/hot wallet real(unlocked) btc.. causing real bitcoin network withdrawal suspensions(where binance was heavy reserve of stable but light reserve of unlocked btc)
they couldnt unlock the stablecoin reserves at the time, to put them as cold/hot wallet coins to honour real btc network withdrawals

the only way out of binance was through stablecoin reserves being pushed away from binance within the stable coins system to other exchanges that are now reserve heavy of stablecoin.. and binance is light on stablecoin reserves

i explained your question about mempool in the other topic you made.

but to answer this question about mining

to find a difficult blockhash for bitcoin collated transction data. requires alot of effort from special devices called asics. that do trillions of hashes a second to find a difficult hash that meets the requirements of the network difficulty.

at the moment there are about 1.5million of these asics running 24/7 and only one manages to find a block solution hash that meets the standard every ~10minutes.

for you as a solo miner to have a chance of mining a block every 10 minutes means you need to own as many asics as the whole network. (1.5mill asics at this time)
so do the math

there are only 52560 blocks a year but 1.5m asics all the time fighting to solve a block
meaning 1.5m asics are fighting for a block over 10minutes
meaning 250k asics are fighting for a block over an hour
meaning ~11k asics are fighting for a block over a day
meaning ~29 asics are fighting for a block over a year

meaning 1 asic might get a block every 29.5 years
(if the difficulty/hashrate didnt change for 30 years to keep the competition/luck the same throughout)

but your costs of mining 24/7 waiting for that time you manage to get a block is costing you money upfront, and so you might prefer regular smaller income rather then lengthy wait for lumpsums

by joining a mining pool(a syndicate of people helping each other to share the reward), managed by a pool operator. the pool manager calculates that X blocks a day will be mined by their pool. and so they look at how many asics are under their management and offer out shares for the workload effort being put into their mining pool. so when the pool gets a solved blocks more regularly because of the shared effort, and the reward is confirmed when its block is added to the blockchain that everyone accepts as valid. the pool then divide that reward up to give to their users that joined the pool. meaning all that large amount of hashrate(asics) all helping together means more regular blocks for that pool. meaning more to share for the users of the mining pool, more regularly.

so if you are solo mining with 1 asic you might get 1 block of 6.25btc every 3 decades (if lucky)
however if in a mining pool(syndicate) you might get like a few sats per block time on average
which soon add up over the year/decade

different pools have different fee's/reward share policies.
and different pools manage a different amount of asics which dictate different amount of blocks the pool solves and a different amount of reward to then share. so do your research on the expected returns and expectations of earnings

they did not have to pay out huge sums to get ronaldo.. so dont take the ronaldo thing as a suggestion that binance have alot of spare money to throw about

when you are discussing exchanges that meant to be handling billions a day. and they are only throwing a few thousand around on advertising (0.000x%).. DONT take that (0.000x%)spend as a suggestion that they are liquid and cash/coin positive of billions.


you mentioned the profits they make not just from the "maker" "taker" of people doing orders, and the withdrawal fee's ..but you forget they also make profit from the "spread"(gap between the buy market list and the sell market list). this is another secret area where they can make money.

when someone makes a transaction. they relay that transaction to all their peers(other bitcoin software of other users)
all those other people check the transaction is trying to spend value that has not already been spent and other small checks to ensure validity.. and then keeps this unconfirmed transaction in a temporary list of a database called the mempool. each software has a mempool database of unconfirmed transactions.. these peers then relay it to their peers, who do their own checks and if valid put it in their mempool, so that the transaction reaches everyone via passing it around to everyone.

most people end up with a nearly similar list of unconfirmed transactions. but at this point its not important
some people may have been offline or had issues and may not have the transaction in their mempool if it was not passed to them at this stage. again not essential to have transaction in mempool, but it helps later stages

then the special users that run and manage mining (called mining pools) collate unconfirmed transactions from their copy of their mempool database, of unconfirmed transactions they received and validated.

most(pretty much all) have their own software programs that select the transactions they want to include, most of this is based on the fee of the transactions but pools can include code for selecting transactions for other reasons or ignoring some transactions for whatever reason.  its not normally(ever) where a person is manually selecting transactions using his eyes and brain and hands on a keyboard, as that is just not efficient.

the collated transactions are hashed together, this collated list of transactions hash is called the transaction merkle root hash
(one of the transactions included is one of their own which is a transaction that gives them a reward if their block is the one that becomes part of the blockchain, known as the coinbase transaction(block reward transaction))

they then with other details like the blockhash of the previous block(to chain blocks together), the merkle root hash and  some other details too . create a header (a small 80byte clump of data)

then they hash that header data using special devices known as asics(very fast and efficient devices that hash data trillions of times a second). to find a unique strong hash of that data that requires alot of time and effort to create this difficult hash.
once finding this difficult hash that meets the difficulty requirements of strength. this is deemed a solved block. and they relay this solved block to their peers which check that the data of transactions listed in the block result in the merkle of the block and the merkle, previous blockhash and other details calculate to the difficult block hash

any slight error in data would result in the hashes not matching the data, so it becomes easy to see if someone edited the data in the block relay stage.

by people keeping unconfirmed transactions before waiting for a solved block. they do not need to received a full 1-4mb of block data. they can just receive the blockheader portion of a block (the bit with all the calculated hashes)
which is very small amount of data compared to the full block of data
and then compare it and collate it with the transactions they already have. and just grab any missing transactions separately that were not sent to them at the unconfirmed transaction relay stage.
(basically it saves not having to receive the same transactions twice, thus saving bandwidth)

if all the data and hashes pass the checks the software accepts that block as a valid new block, it keeps it in a database of blocks (the blockchain database) and removes the transaction out of the unconfirmed mempool database.. and then the whole routine starts again on the next block unconfirmed transactions to get confirmed.

by everyone following the same check/validity rules they all end up keeping the same data as they are all keeping only valid blocks of transactions.
the blockhashs allow people to ask other peers what their blockhash is of their most latest block they have. without having to ask for a full block of data. so that they can see that their peers have the same lists as them

by storing the blocks in the blockchain database. new peers(without any/latest data) can ask for this full length data to catch up with the other users so that everyone is in sync

be warned when binance shut off withdrawals.. this was because of an issue that they couldnt unlock enough coin from their stablecoin lock to then facilitate real btc withdrawals to real individuall utxo on the bitcoin network(they locked up too much and didnt anticipate cascading reaction causing a the bank run due to the luna fiasco)

now they have a new problem, very unbalanced reserves on the stable coin so they need to offer a way to rebalance it. and thats via 0 fee to entice people to push stable coin balance back in binances favour.
(too much went out of stable coins not enough came back)

they want people to move funds from coinbase and others back to binance so that binance has balance on its side. to then unlock and replenish its reserves.

worry about exchanges that suspend withdrawals and also try to entice more traders into them.. it means they have bad holdings of their own and are aware of the risks if they do nothing..

a good exchange thats well managed doesnt need to do anything.. doesnt need to suspend service or bait customers into using it. they can carry on working day in day out just getting the small sub 1% fee's without inconvenience or sales pitch, happily plodding along doing its thing.

buy low sell high was the main moto.. in the last few years

i havnt heard much of the FOMO stuff of buy on the high since pre 2017

or to play out another scenario

that officer was the accountant/"money runner" for his colleagues black dealings while they patrol the streets. he hid their black income in crypto and managed it for them. . and when it crashed. they lost the lot and left him as the scapegoat because he lost their funds. sending in a anonymous tip to their manager to investigate him

(my plausible opinion of events, not fact. just sounds more reasonable conclusion to how such things would normally turn out when looking at the recent events of luna and the coincidental finding of the guy just as it crashed)