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
Discussion
Ahh a real Bitcoiner speaks
You sir are a real freedom fighter and bitcoiner
Followed
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
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
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
😬