This is why each individual crypto will struggle to hold any position because there are no laymans terms for those last few posts that present anything close to understandable for mainstream adoption.
This is why each individual crypto will struggle to hold any position because there are no laymans terms for those last few posts that present anything close to understandable for mainstream adoption.
Pretty much. The reverse is also why memecoins have dominated the market for the last year.
It's a lot easier to onboard someone by saying "if you buy enough SlurCoin, it could take off and you could quintuple your money or more!".
####coin gambling makes way more sense than defi tokenomics ever will.
Guy in UK who's hard drive ended up in the landfill is still trying to get it back and is even hoping he can buy the landfill since they won't let him look for it.
Reality is as soon as it was known about this, people with access like staff etc probably went and found it already.
Guy in UK who's hard drive ended up in the landfill is still trying to get it back and is even hoping he can buy the landfill since they won't let him look for it.
Reality is as soon as it was known about this, people with access like staff etc probably went and found it already.
No it was a few year after it was chucked out that he realized it was gone, he doesn't actually know it is in the landfill, it's just a supposition as his ex said she'd chucked it out years before in a clean up, it probably is in the landfill somewhere but under three or four hundred tons of crap anywhere in a 1 or 2 acre area of the tip, finding it will require spending millions to excavate the place and sift it through by hand
Argentine Lawyers File Charges Against President Milei Over Fake LIBRA Coin Promotion
Javier Milei, President of Argentina, is facing fraud charges for promoting fake crypto coin dubbed LIBRA. Local lawyers have filed case against the libertarian leader in criminal court on Sunday.
Milei, on Friday, promoted the little-known crypto on X, which rapidly surged to a market capitalization of about $4.5 billion. At the time, the President noted that LIBRA was aimed at “encouraging economic growth by funding small businesses and startups.”
The "mining" isn't actually mining. The "price" is IOU, which is artificially propped up by dummy wallets.
There is a 99.9999% chance that the price will tank to sub $10 within 24 hours of launch. The valuation on this thing is ridiculous.
Don't get me wrong, I have about 1,000 of the things so if it's even $20 I'm laughing but they're probably worth $500 at most, and that's if I sell fast.
There have been 6 billion Pi migrated to mainnet so far, so at even $20 per that would give it an FDV of $120b, which would immediately make it the fifth largest FDV of any token in current existence.
Absolutely no chance this thing is worth more than $1 per after the price crash.
That said, far stupider things have happened in crypto so that .0001% chance it isn't a turd will keep the dream alive.
I shouldn't have hedged at the end. I knew I was absolutely correct.
If bitcoin is capped at 21 million and so mining will cease when the 21 million is reached, or sooner if there is less and less 'pay' for the effort involved
Then how does the blockchain operate without the miners?
If bitcoin is capped at 21 million and so mining will cease when the 21 million is reached, or sooner if there is less and less 'pay' for the effort involved
Then how does the blockchain operate without the miners?
It’ll be about 2140 when the last bitcoin is mined so I suspect it won’t really matter by then, but generally it’s the transaction fees that incentivize. I won’t likely be around to find out if it’s still running without full mining reward.
It’ll be about 2140 when the last bitcoin is mined so I suspect it won’t really matter by then, but generally it’s the transaction fees that incentivize. I won’t likely be around to find out if it’s still running without full mining reward.
Transaction fees makes sense because without it would be like leasing a house, as you start to get closer to 2140 the asset would start to lose value, houses start to lose significant value in the UK 30 or 40 years out
If bitcoin is capped at 21 million and so mining will cease when the 21 million is reached, or sooner if there is less and less 'pay' for the effort involved
Then how does the blockchain operate without the miners?
The Decentralized Mecca that Bitcoin has positioned itself as will be shattered, and they will either a) raise the minting cap to incentivize miners to continue or b) fork into a new network to do some similar voodoo.
A good example of a chain doing this when they hit their minting cap recently is Polygon.
Polygon originally had a token cap of 10B, but they were set to hit that in late 2023. At that point, Validators (basically miners on a PoS chain, though typically working more collaboratively and expending magnitudes less energy) would no longer receive processing rewards beyond a cut of transaction gas (which is minimal compared to "emissions").
So, Polygon upgraded their MATIC token (network used to be called MATIC) to the POL token, which no longer has a cap, and sees an inflation rate of ~2% a year as a result Validator emissions. There's a burn mechanism on most EVMs as well (EIP-1559) but that does not entirely offset the inflation.
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Originally Posted by MrMastodonFarm
Settle down there, Temple Grandin.
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The Decentralized Mecca that Bitcoin has positioned itself as will be shattered, and they will either a) raise the minting cap to incentivize miners to continue or b) fork into a new network to do some similar voodoo.
A good example of a chain doing this when they hit their minting cap recently is Polygon.
Polygon originally had a token cap of 10B, but they were set to hit that in late 2023. At that point, Validators (basically miners on a PoS chain, though typically working more collaboratively and expending magnitudes less energy) would no longer receive processing rewards beyond a cut of transaction gas (which is minimal compared to "emissions").
So, Polygon upgraded their MATIC token (network used to be called MATIC) to the POL token, which no longer has a cap, and sees an inflation rate of ~2% a year as a result Validator emissions. There's a burn mechanism on most EVMs as well (EIP-1559) but that does not entirely offset the inflation.
Yes the idea of transaction fees, like so much of crypto, makes sense in a traditional financial setting but I was (and still do) wonder how you make that happen without someone in charge and that would seem to run up against the idea of both decentralization and it being free of government interference or control, again it's theoretically not a problem for a century but my experience with property leases in the UK (they usually start at 99 years) is that they lose value really quickly after a few decades, it sort of sparked my curiosity, could it all sort of cease to work and it be impossible to move (sell) btc once the 21 million ran out, I mean were at 20 million already and again I would assume mining will become unprofitable at some point before the 21 million is reached just due to the halving process
Mayor Ken Sim says his continued push to have Vancouver become a bitcoin-friendly city is “a hill that I’m willing to die on” as he awaits a city staff report on whether the digital currency could one day be integrated into the City of Vancouver’s financial strategies and systems.
Quote:
The mayor, who is a chartered accountant and former investment banker, said that no matter what staff recommends in the report that he will ensure more work will be done on crypto.
“If they miss the mark, if they come up with recommendations that are factually incorrect or based on the wrong data, I will be personally filing an amendment to correct those discrepancies, and then we'll vote on that as well, and then it will pass,” he told the crowd.
"If I don't like the facts presented, I'll re-write them". Another loser politician who knows better than everyone else.
Quote:
The mayor has also called for the potential conversion of a portion of the city’s financial reserves into bitcoin “to preserve purchasing power and guard against the volatility, debasement and inflationary pressures of traditional currencies.”
58 wallets have made over $10 million each from President Donald Trump’s meme coin, totaling $1.1 billion in profits, blockchain analytics firm Chainalysis said.
764,000 wallets of mostly small holders have lost money on $TRUMP, according to the firm.
The $TRUMP event, set for May 22 at Trump National Golf Club, Washington, D.C., includes a reception for the 25 wallets with the largest balance, along with a White House tour.
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