Subnostr

I just like owning everything #bitcoin

I do fear about miner bankruptcy in the next 6 months due to #bitcoin price being abysmal

The price of Bitcoin being this low is becoming a systemic risk to network security, we can’t have miners going bankrupt and we can’t keep seeing our Bitcoin industry continue to have massive failures

At some point there is no comeback if all u want is destruction

#bitcoin price is a liability to security… No miners, no Hashrate

So I’ll support every miner possible… as Hashrate touches 600 EHs this year, they’re confident enough to push forward

Exchange holders are an extreme liability to miners, every Bitcoin held on an exchange, is a paper derivative sold 1000/1 and increases bitcoins 21 m supply to infinity

Bitcoin solution is self custody, but I’m afraid the more coiners I meet, I find very few self custody

All you’re doing is hurting the network and suppressing price, I’d rather you sell your paper coin if you’re not gonna custody it

Anybody who holds Bitcoin on an exchange, does not understand #Bitcoin and Is an enemy of a Bitcoiner

#sats are for self custody, most exchanges have lightning withdrawals, no excuses

Self custody and actually help the network grow. Exchange holding is worse than being a no coiner

No coiners know they have no #btc

Exchange holder believe they hold bitcoin ….. that is dangerous

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Discussion

ew0k 2y ago

So plebs need to soak up 100% of the available bitcoin in cold storage to force derivative peddlers’ bluffs— and do this before mining becomes unprofitable which is soon

PAGAN WOLF 2y ago

Ahh a real Bitcoiner speaks

You sir are a real freedom fighter and bitcoiner

Followed

PAGAN WOLF 2y ago

Also soon means days not so much months either

It’s a complexity Bitcoiners have been so careful free on Price

Now price matters and…. It’s getting harder to fight larger institutions and the 1000 coin a day guy

Complacency and bullshit costs

ew0k 2y ago

But if price goes down doesn’t difficulty adjust downwards, which lowers security. So we’d still have a chain just less secure?

I’ve never understood how we get over this problem given the value locked in other assets is so large banks could, for a very long time, back paper bitcoin with quadrillions in usd from elsewhere or even a printer

PAGAN WOLF 2y ago

Yes difficulty goes down which opens the door for smaller miners to come in…. But that’s not the industry… that’s taking a huge step backwards

You’d have all miners dropping their bitcoin on the market, not good. Hash Power drops 80% ok difficulty adjustment in 7 days but that’s years of rebuilding again.

You’ve already got every hedge fund gonna lock up coin and sell paper “yield products” to customers when supply isn’t there

Banks then have an open shot to supress like Gold for hundreds of years

It’s a slippery slope right now which about every bitcoiner is to care free on

We are in the most important block range in Bitcoin history and no one cares about success

We have to secure the network our side to, that means asset value

Miners give us security

We give miners value

We are NOT doing our part

ew0k 2y ago

😬

chancellor 2y ago

I bought some CLSK earlier this year, around the same price. When it ran up to $8 doubled up and now I'm break even. Sucks, but good times ahead I think.

PAGAN WOLF 2y ago

Oh man I think u slam dunked!!

This thing is on a tear and popular

Definitely a hold to $100!! It’ll go

As always Bitcoin price makes these more valuable

Hand in hand

chancellor 2y ago

Honestly if it goes to $30 I'll sell every share very happily and wait for bitcoin crash. Lol

PAGAN WOLF 2y ago

Don’t take the eyes off the miners balance sheet then 🔥 that’s where the reality is at

chancellor 2y ago

I don't think $100 is possible honestly. That would be a huge market cap.