Suck it Gary nostr:note1ku4dpjuj7t9vsrm55n8cthhk0m2y2sftfnghx4stj0p2wuerp3kqrdzqt3
This binance news seems similar to the bitmex news in sept 2020. Last bad news to drop and shake out any remaining weak hands. Up
That’s stl style lol
HMU if you’re in Miami
Love all you bitcoiners
Spirit. Ballsy. Don’t get punched
Pure vida. Pure life
The .eths getting dumped on again by their “decentralized “ overlords https://twitter.com/hsakatrades/status/1654652138310574083?s=46&t=0J5TcDuWkGIXgm7zF2r69g
If you don’t require real world resources to make more of a currency it’s a trash currency. That simple
To me for something to have actual yield there has to be some level of risk involved. Staking on cryptos is essentially a penalty on non stakers. If the supply goes up by the same % as “yield” then it’s just keeping up with inflation.
I kind of look at it similarly to treasuries. Very low likelihood the US gov actually defaults bc of being the world reserve currency. So people get a “yield” but that yield comes by the treasury issuing those bonds to make up for the lack of tax receipts. More monetary units
More monetary units means more inflation. Dollars are diluted. People with more money benefit by keeping up with that inflation by doin nothing. The wealth gap increases.
A person with a billion dollars gets 50 mil a year if there’s a 5% interest rate. They don’t care about 5% inflation bc the amount of money they’ve accrued via doing nothing goes up faster than goods inflation does.
A person with 1000 dollars or 0, suffers disproportionately from the increase in monetary units bc they earn only 50$ a year from treasuries, if they can even invest that. But their cost of living just went up by 5%.
Say it takes 100k to live. The poorer person in the example cost of living goes up by 5k but they only earned 50$. The rich persons cost of living goes up 5k but they earned 50 mil. This is a scam
That’s why the ruling class loves inflation. Cantillon effect. Rich get richer. This is why I don’t like proof of stake as a monetary system. You need a system where work is needed to create more monetary units, otherwise you end up with a system where the rich gain disproportionately
At this point btc is an unstoppable force. Every person who becomes orange pills, orange pills at least 2-3 others and the snowball continues getting bigger. Govs will push back but at the end of the day all they can do is delay adoption. After a while net producers will want to hold an asset that can’t be debased on a whim with a stroke of a keyboard.
Usa will need 200-300% inflation to inflate its debt away, and you’re in bonds anon? Hard assets only for the 2020s
Yea lol. That’s the funny thing. It’s so early in this tech people have no idea what it’ll look like in the future
Never mind that if btc is attacked with a 51% it censors the network, but this is actively happening on eth now with OFAC. You would still be able to send btc around using lightning until the attacker is done spending massive amounts of energy. That’s the thing about btc, it’s incentives make more sense to use those resources to actually mine valid btc.
Yes if btc isn’t adopted then it will fail. No shit. It’s like these people think they are geniuses for making this proclamation
Bear market fud: as the block subsidy tails off, miners won’t get enough in fees and it’ll fall apart. Fees are too low!
Bull market fud: btc won’t or can’t scale! Fees are too high
Notice a pattern? It’s never good enough for these folks
Security model fud is an attack by shitcoiners to attack proof of work’s viability. If you think btc won’t gain adoption over time and therefore fees to sustain the network then you can fork it and add a tail emission. I’m sure it won’t get picked up just like any other fork.
Now if it could only have a reliable and predictable issuance curve. Remember the usd was deflationary last year too https://twitter.com/misterkeegan/status/1649089024458649600?s=46&t=WCAPTcSstRIjgctYWCXnyw