EnglishEdward
Deity
..... the money that pays for the electricity comes not from the transaction fees, but from people coming in and investing new money....
Sounds strangely reminiscent of the old Ponzi...
..... the money that pays for the electricity comes not from the transaction fees, but from people coming in and investing new money....
The other day I learned about MMM Global, which I think is a currently ongoing massive open ponzi scheme. I learned via youtube below, or you can read the indescribably boring:Sounds strangely reminiscent of the old Ponzi...
Interestingly, despite all the negative press, they continue to rise: Bitcoin is now at $27,042; Etherium is at $1,818. They both had been a bit higher a few weeks ago, but still... my Beanie Babies are on the upswing. I have no idea what that means, or why it's happening. It's just interesting to note how their value doesn't seem to reflect anything - like, really anything.I don't have Bitcoin, but I track it & it's gone from $16,516 to $23,828 since then. Etherium, which I do have, has gone from $1,256 to $1,619, which actually means I'm Back In Black, by a little.
We dumped our daughter's 100 or so beanie babies last year. Gave the to the local thrift store.but still... my Beanie Babies are on the upswing.
I think I may have got something I missed before. Is your point that the money that pays for the electricity comes not from the transaction fees, but from people coming in and investing new money. Since the the emitted coins given to miners is represented by the blue line on the below graph, or the increase in the purple line , that represents the "cost", along with any change in the price of the coins?
As are claims of blockchain utility that don't even make internal sense.
I thank you for this in-depth explanation. But it kinda helps illustrate my point in regards to Crypto, because I don't care about any of it. No offense meant - hear me out as to why, please! I am glad that people like you explore it to this depth. I read your post & didn't even understand half of it. I am not trying to insult you, or denigrate the thought you've put it into...You're on the right lines. Neither of these lines exactly maps to the cost, but the trends in them are connected to it...
But... it helps illustrate *my* mindset as well. They are just speculative assets to me. Out of curiosity, do people like me, who literally only focus on the present value, annoy you, or are we "useful idiots"? I will not be insulted by either response - I'm genuinely curious.
The commitment to celebrating the importance, notoriety, and values of Bitcoin has led to the creation of a new hotel chain in the shape of the king of cryptocurrencies. The hotel chain also embraces new technologies of blockchain and artificial intelligence with attention to material sustainability and zero CO2 consumption, inspired by the upcoming COP28 summit in Dubai.
The hotel chain has taken a unique approach to rewarding its guests by offering NFTs, which also provide exclusive utilities to the holders. Moreover, the rental price will be considered as staking of crypto and will produce an APY that guests can redeem. Salvatore Leggiero, the developer of the project, states, ‘It will be the first hotel that gives you back the money you paid, plus interest.’
But... it helps illustrate *my* mindset as well. They are just speculative assets to me. Out of curiosity, do people like me, who literally only focus on the present value, annoy you, or are we "useful idiots"? I will not be insulted by either response - I'm genuinely curious.
Sorry for double-posting, but I do want to address this....If you are in for a quick profit that sure it dosnt matter, plenty of people brought into crypto to make money without understanding anything beyond that you can make money,
People long term investors generally do serious research into the viability of success
Especially given the number of SCAMs but generally with startup techs there is a large element of risk
That's me. I actually got in early enough that I am still "Up" (granted, after that big crash a few months ago: I actually got Down for a bit, but given the rebound, I am back Up). So that's me: just someone who put some money (that I can afford to lose) into it hoping to make more money. I appreciate the discussion.plenty of people brought into crypto to make money without understanding anything beyond that you can make money,
I shall try, but just to highlight how much this is the blind leading the blind@Samson: Can you explain why you don't often see them overlapping? I don't understand what that graph is showing at all.![]()
It seems to me you asking me how this works is a bit like a forex trader asking someone who has popped into the Bureau de Change for their holiday money how the markets work.I actually got in
The SEC issued an emergency order on June 6 to freeze the assets of Binance.US. The following day, the firm reassured customers that assets remained safe adding that the platform continues to be fully operational with deposits and withdrawals functioning as normal.
The company added that it plans to transition to a crypto-only exchange but maintains a 1:1 ratio for customer assets.
I think a massive bank run away from exchanges into secure wallets needs to happen. I just do not get the point of using crypto if you are just going to store it with some dodgy company in the caribbean. The whole point is a trustless infrastructure, and there is nothing more trusting than giving your money to someone who going out of their way to show you cannot trust them.Whichever way it goes, I don’t think this story can end well.