A community dedicated to Bitcoin, the currency of the Internet. Bitcoin is a distributed, worldwide, decentralized digital money. Bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. You might be interested in Bitcoin if you like cryptography, distributed peer-to-peer systems, or economics. A large percentage of Bitcoin enthusiasts are libertarians, though people of all political philosophies are welcome.
/btc was created to foster and support free and open Bitcoin discussion about cryptocurrency, Bitcoin news, and exclusive AMA (Ask Me Anything) interviews from top Bitcoin and cryptocurrency leaders. Bitcoin is the currency of the Internet. A distributed, worldwide, decentralized digital money. Unlike traditional currencies such as dollars, bitcoins are issued and managed without the need for any central authority whatsoever. Learn more about Bitcoin, Bitcoin Cash, cryptocurrency, and more.
I've been reiterating some thoughts on Bitcoin in the future. When the block reward reduces to a point where miners need to profit from transaction fees, will this be enough incentive to keep operations running, considering the costs involved to maintain the current hash rate? 7tps is also a constraint on income. If we assume the above concern works out for the first layer functioning in standalone, the question regarding the LN arises: If the LN becomes the main layer for performing transactions in the future, won't this reduce the income for miners? I know node operators settle the difference in balance on the first layer, but how often will this theoretically happen? I apologise if this is a basic question already discussed, but I'm curious if someone has done some calculations before, or can refer me to a good resource discussing this topic. Thanks!
Just released the beta for our Bitcoin game, TURBO 84, (technically a re-release - we did some bitcoin experiments with this game in the past). The concept is to collect 'tickets' for a daily prize draw to stack sats. Beta is available on Google Play. Here is a little teaser trailer for it
Bitcoin Games Reveals Satoshi’s World Travel Plans, Offers Cashback, Free Spins, and Bonus Money Read the full topic at https://icocryptoexpert.blogspot.com/2020/10/bitcoin-games-reveals-satoshis-world.html #bitcoin #bitcoinnews #crypto #coinmarketcap #cryptocurrency #blockchain
Did we just see a well played game in Crypto? All have preached that this is an Altcoin cycle and sure enough tons of new money has been introduced and Altcoins rose as expected. Meanwhile Bitcoin just hovers near the 10k mark waiting to make it's move. Today we've crossed the 10k mark and look where all that fresh money has gone. Altcoins are falling, Bitcoin is rising. I don't know about you but this seems like a well played strategic move. Altcoins may have tech and potential but they are still controlled by those with Bitcoin wealth. Seems kind of familiar, it's like the old saying about the richest 1% in the world eh? Food for thought, Crypto may be new but it's part of the same system.
Those relatively few that own the significant amount of Bitcoin have already won. In other words you are now either a winner or loser in this game. The winners have enough coin now where they can Hodl a large amount of their coin while using the remaining to earn additional cash flow. Lets call that their maintenance holdings. By manipulating, using the large maintenance funds, the trading range as they are doing now in a relatively small range they control the top (sell) timing and the bottom (buy) timing they are experiencing a significant monetary gain while the 'losers' are not. Nothing needs to change for the winners to continue to be winners and the losers to stay losers. As the 'winners' manipulate the market buy either increased selling or buying it forces the market to reverse the trend in the range. The most blatant example of this is the impenetrable wall that exists at the 9400 USD level. While BTC may someday be a free market (not controlled by whales as it is today as Banks control fiat) dont expect to see it for another 50 years.
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