You could have made 40-50% with stablecoin yield strategies. Let alone much more with ETH. ETH maxi is a thing also, they don't care about BTC. Crypto bear market is the time to accumulate wealth. I'll be looking for projects with actual business utility. Already have some targets in mind.
No, it would be caught real quick, cause BTC maxis watch the chain like a hawk, they would stop, patch and roll back the chain. Whoever would exploit it would need to use a mixer and be superfast. The liquidity is not even there to cash out anything major. Point is that the whole fixed supply due to immutable code is not even 100% true, and has already had problems twice. Security audit would help though, yet.... There is much more hatred that BTC community gives out than it receives. I do think that much of the hatred that BTC receives is due to jealously and missing out. That's to be expected & makes sense. But what's the root of that? Because there is nothing else to the BTC proposition but "number go up" So hence, memecoins.
Ok, but you're wrong which you just seem to not understand Bitcoin and it actually surprised me Bitcoin network is the most decentralized. I run a full node. There are over 100K nodes worldwide, and could be a lot more than that Issue a fix quickly? I don't think you've ever run a full Bitcoin node before. You probably don't know that some Bitcoin nodes running old versions are still good on the Bitcoin network, do you? You know how difficult it is for everyone on the network to upgrade??? Taproot support probably won't show up in the exchanges until many months from now. Heck there's a snafu on Binance that a user lost some Btc I cannot even tell you literally how the whole Bitcoin network is going to come crashing down, they cannot revert the blockchain with billions and hundreds of billions of $ transacting every single block And do you understand shorting? All the chaos above, OH EM GEE!!! read my post again, please on the section of shorting You don't understand and appreciate how decentralized Bitcoin is because you're only dealing with other coins, do you even run a full node of Ethereum? Do you know what happens when they have those mini network forks or when they upgraded like in EIP 1559 and old nodes do not upgrade?
Additional info in CAPS (did not get a chance to update my post to emphasize the point) BITCOIN IS DECENTRALIZED IF IT'S POSSIBLE TO HALT THE BITCOIN NETWORK AND ISSUE A PATCH AND REVERT BACK, THEN IT IS NOT DECENTRALIZED AND A NATION STATE (I.E. USA) CAN JUST ISSUE AN ORDER TOMORROW TO STOP IT BITCOIN IS NOT SOME CENTRALIZED DATABASE RUNNING ON A JP MORGAN SERVER
The concept of personal sovereignty is incapable with totalitarian regimes - whereas personal property is well understood by capitalism.
You aren't saying anything I have not heard before. It is dominated by whales, Tether/Bitfinex & two to three Mining Pools. It is extremely centralized in those aspects. There are projects out there that are more decentralized, some specifically design the protocol around that. Does not matter when it comes to user adoption and attracting economic capital. I understand the BTC narrative, I just don't buy into it. If you think that I don't get it, sure. Been there, done that. You have bought into the narrative, and it has served you well. Great, for you, not so great for new users entering the market now. Hence, memecoins. Robinhood makes a lot more on DOGE than it does on BTC & ETH. But forget millennials gambling on apps. Do you really think most of the institutions very likely onboarding into BTC in Q1 2022 are buying the narrative? Or are they essentially just seeking the best potential "number go up" asset that they can even access at the current time?
I know you don't believe it, but I just want to say it again, Bitcoin is the hardest money in existence, currently. Unfortunately for gold, which is being debased through issuance of paper gold Chinese miners in China are 0% of the network hash now, we have many publicly traded companies that are bitcoin miners, Argo, Riot, Hut, even Fidelity has been mining for a long time and one of your coin holdings, Celsius is a big miner in the USA, and outside of the USA in places with cheap renewal energy like Iceland, they have big bitcoin miners For many of us Bitcoin believers, it is more than just NGU, but ngl, it is quite nice when the price of Btc goes up. We put more importance storing our value for the future, i.e. low time preference If you're interested, I can post the video of Michael Saylor explaining why he decided to invest all of Microstrategy's cash into bitcoin which he announced to the market 1 month ahead of time last year. That turned out to be only the beginning as then proceeded to purchase over 17,000 bitcoins for his personal stash Then, Michael Saylor was not satisfied with just putting the cash reserves of Microstrategy, so he issued debt to buy more bitcoins. The company has not stopped buying bitcoins using operating cash flow and issuing equity (more stock shares) to buy more bitcoin, so far the company owns $5.8B worth of bitcoins which fluctuates, was over $7B a month ago in value Michael Saylor himself has not sold any of the 17,000 btc's he personally owns Tesla purchased $1.8B worth of bitcoins. Square (now Block) also have done it You think Bitcoin is only NGU, but I keep telling you that it's not. If my priority is NGU, I would have the bulk of my crypto portfolio not in Btc Michael Saylor is a billionaire before he got into Bitcoin. He owns about 70% of the Microstrategy company. He's not interested in NGU when he's already very wealthy. If anything, he's taking a risk. He's very smart, double technical major from MIT On the video I mentioned above, he explained in detail why he chose Bitcoin over all other investment asset to protect the value of his company and his wealth Bitcoin and cryptos are our escape from the existing financial system. The cryptos ecosystem is an open monetary financial system I know you said you want to earn your wealth then put into real world business and assets and cryptos is open when you're here and when you leave and when you decide to come back Bitcoin and cryptos will not hold a grudge Bitcoin and cryptos will make a lot of people involved "wealthy". We're still early. GM [PS: The Bitcoin network of nodes are separate from the Bitcoin miners are separate from the bitcoins digital assets The whales that own much of the coins have no more say on the network than the small shrimps that own very little amount of bitcoins The miners are fighting to solve the next block and there's no coordination with other miners since the there's no hotline for them to call into. The next bitcoin blocks get solved every 10 minutes or thereabouts The problem with many coins nowadays, is that they are merely tokens built on smart contracts and if there's some kind of "failsafe" in the code, it is possible to confiscate or censor tokens in the name of protecting the other holders from scams/theft/hacks Bitcoins do not have this failsafe code and thus censorship resistant. A big Bitcoin miner wanted to censor transactions that contain bitcoins from sanctioned countries or used in illegal activities i.e. ransomware or if not ESG compliant coins, i.e. mined from coals in China, but apparently there was no economic interests from buyers in paying a premium for "clean" coins so the miners stopped the censoring efforts Game theory through the economic incentives prevail in Bitcoin as outlined in the Bitcoin Whitepaper Taproot will prevent that kind of shenanigans in the future, anyway]
By banning cryptocurrencies these leaders don’t understand that they are only restricting themselves and the people of their country to be the part of the biggest ever invention. By avoiding cryptocurrencies, these countries are intentionally staying one step backward which will certainly limit the country’s growth in one way or the other.