MISC Crypto Crew (MCC) Vol: XII: Retirement plans and exit scams

[Parkerscott]

fuk you *******, point out where I said chit about price action here or it going to 0 or anything close to that. I was talking about the years old narrative about btc being put to bed now that we finally had a global economic contraction to test the theory out. You can say I'm wrong or w/e but to try and lump me in with capitulation bullchit like this is where I draw a line

Imagine taking the time to make a post like this though, just lol bro.... pat yourself on the back a little more why dontcha, egotistical fukker lol

You are not wrong. Can't really call it a "safe haven in times of economic uncertainty" when it does the exact opposite

[Matty5RA]

Hope you sold when you had the chance at 9 because that retrace everyone was warning about is kicking in.

Sold a portion at $9360. Rebought back in at $8650. Looks like reaccumulation atm with higher highs and higher lows, chance of the golden cross on the 12 hour tomorrow, so can’t say I’m too concerned, think it’ll take another dart up within the next few days. if not then no biggie, still have sidelined cash from previous profit taking to buy dips.

[PimpMasterC]

-On the Instability of Bitcoin Without the Block Reward
https://www.cs.princeton.edu/~arvind...mining_CCS.pdf
Princeton university

-Beyond the doomsday
economics of “proof-of work” in cryptocurrencies
Monetary and Economic Department

https://www.bis.org/publ/work765.pdf

"Second, the transaction market cannot generate an adequate level of
“mining” income via fees as users free-ride on the fees of other transactions in a block and in the
subsequent blockchain. Instead, newly minted bitcoins, known as block rewards, have made up the bulk
of mining income to date. Looking ahead, these two limitations imply that liquidity is set to fall dramatically
as these block rewards are phased out. Simple calculations suggest that once block rewards are zero, it
could take months before a Bitcoin payment is final, unless new technologies are deployed to speed up
payment finality. Second-layer solutions such as the Lightning Network might help, but the only
fundamental remedy would be to depart from proof-of-work, which would probably require some form
of social coordination or institutionalisation."

-Written by phd´s in computer science and economics. Bitcoiners can’t refute this fud, lol

[samsbolton]

-On the Instability of Bitcoin Without the Block Reward
https://www.cs.princeton.edu/~arvind...mining_CCS.pdf
Princeton university

-Beyond the doomsday
economics of “proof-of work” in cryptocurrencies
Monetary and Economic Department

https://www.bis.org/publ/work765.pdf

"Second, the transaction market cannot generate an adequate level of
“mining” income via fees as users free-ride on the fees of other transactions in a block and in the
subsequent blockchain. Instead, newly minted bitcoins, known as block rewards, have made up the bulk
of mining income to date. Looking ahead, these two limitations imply that liquidity is set to fall dramatically
as these block rewards are phased out. Simple calculations suggest that once block rewards are zero, it
could take months before a Bitcoin payment is final, unless new technologies are deployed to speed up
payment finality. Second-layer solutions such as the Lightning Network might help, but the only
fundamental remedy would be to depart from proof-of-work, which would probably require some form
of social coordination or institutionalisation."

-Written by phd´s in computer science and economics. Bitcoiners can’t refute this fud, lol

Word salad

My PhD in common sense says no crypto is insureable and therefore it’s not an asset. It’s done. It’s over. Sell, sell, sell.

[PimpMasterC]

Bitcoin is plagued by a lot of almost "unfixable" problems, no matter what maximalists say. The only thing it has going for it is hype, first mover advantage, brand regignition and security. But as adressed in the acacemic paper, security of the network will likely suffer as block rewards gets phased out. The cost of a 51% attack will be a lot less. Also intoducing the problems of selfish mining, and high transaction costs. Selfish mining is not currently a problem, but as explained in the paper will make a lot more sense when there is no block rewards. Also a high variance in the circulating supply leads to high variance in prices, which is why any economic system needs to have a open flow of value to stay somewhat stable. High transaction costs will lead to transactions being pushed off chain, which will create a tragedy of the commons scenario, where some people are paying for the security of the entire network. Bitcoin will likely have to rely on charity in the future. Removing block rewards is pretty dumb.

Also the problem of no on chain governance to coordinate upgrades and make protocol changes legitimate. No smart contracts that can be used by bussinesses. Heavily mainpulated market by whales. Not a store of value, nor a good currency. Gold is a better store of value, and the dollar is a better currency. Not private either, and forks diminish and splits the value of the network. Bitcoin was good for it´s time, but the world will move on some day.

[2020Wellness]

Pretty even battle going on for the $9000 mark over the past few days. There is no actual date lined up for the halvening, correct? I was reading that it's just in May.

[KingKringe]

some1 aware me on the halvening, is it going to crash again?

[2020Wellness]

some1 aware me on the halvening, is it going to crash again?

in4 answers.

[Parkerscott]

Pretty even battle going on for the $9000 mark over the past few days. There is no actual date lined up for the halvening, correct? I was reading that it's just in May.

It's supposed to happen on the 12th at around 2 in the morning. It might happen late afternoon on the 11th though. It all just depends on how fast the blocks are mined and the blocks are going a little bit quicker than usual.

https://www.bitcoinblockhalf.com/

Can't really comment on the price because we still have 6 days left. Some people say the halving has been priced in and its going to dump afterwards. Some say the price is going to run up closer to the halving. Some say the halving is supposed to be a non event and bitcoin isnt going to go up until a year after because it takes time for the halving to take effect.

Honestly it sounds to me like the halving is just going to be dragged out an entire year until bitcoin holders can find some other type of event to hype it up.

[SleeveStretchin]

You guys are in here arguing if BTC is going to 0 or not? LOL come on. Buy the dips. So many bullish catalysts coming up.

[Serenadium]

There won't be much of an impact on price. Between BTC/fiat pairs on Kraken, Bitstamp, Coinbase and Bitfinex there is roughly ~500m USD volume for BTC.

The impact from miners selling their BTC is absolutely minimal (1800 BTC per day or 15 million USD per day at the current price and block reward rate). This will be 7.5 million USD at current prices after halving. It's a drop in the $500m daily trade volume bucket and a non-factor.

The market is driven mostly by speculation buying/selling and any impact from miners selling their block rewards that have been reduced by halving is minimal.

[Parkerscott]

There won't be much of an impact on price. Between BTC/fiat pairs on Kraken, Bitstamp, Coinbase and Bitfinex there is roughly ~500m USD volume for BTC.

The impact from miners selling their BTC is absolutely minimal (1800 BTC per day or 15 million USD per day at the current price and block reward rate). This will be 7.5 million USD at current prices after halving. It's a drop in the $500m daily trade volume bucket and a non-factor.

The market is driven mostly by speculation buying/selling and any impact from miners selling their block rewards that have been reduced by halving is minimal.

I never even bothered to do the math, but that is a pittance all things considered.

Always knew this market was a speculative pile of garbage though. Tezos holders are just now starting to find out that their staking rewards are decreasing every single month, Digibyte is pulling 20% days for weeks over a covid tracking mobile app contest in europe. IOTA goes offline for over a month and nothing happens etc. This market is still a huge joke and its going to be a long time before it actually matures. The weirdest part of it all is just how quickly it can pivot to bull mode and any and every asset goes up 80%

Also lol at ponzi schemes making a return. Im looking at you hex

[Gringo12]

What's the story with digibyte slowly climbing the ranks over the last fortnight ?

[BDSMBBW]

HEX doesn't even have a tradingview chart, But is up 6000% from its all time lows. Even some of the later buyers would be up 2000% by now. like all ponzi schemes, the first few entrants would have made a whole lotta money.

[2020Wellness]

What's the story with digibyte slowly climbing the ranks over the last fortnight ?

Check the post above your post for some details.

[Lucky_ROA]

I think this would be a good slot to sell 9500

[BDSMBBW]

[iifymbro]

some1 aware me on the halvening, is it going to crash again?

Lemme get my crystal ball out brb

[MiamiLife305]

I feel like I should sell all the BTC I had been buying during the COVID right now

[JamaicaBrah]

We 10k now?

[Lucky_ROA]

I feel like I should sell all the BTC I had been buying during the COVID right now

I have the same feeling.

[KingKringe]

still going up , 2k in 5 days HYPERSSS

[PimpMasterC]

yeah, im gonna wait till it drops. I´m 99% sure that btc will be below 8k again, it´s just a metter of time.

[ghostfacedup]

Impressive performance by BTC during this economic downturn, very impressive.

[W1LLW]

what in the fuk is going on?

[Greencore]

Nobody notices crypto til the rocket's in the sky...

[savageoldman]

US keeps printing money out of thin air lol what did yall expect

[MiamiLife305]

We 10k

Meanwhile all the other coins are just sitting watching Chad Bitcoin moon

[gixxer0.6g]

We 10k

Meanwhile all the other coins are just sitting watching Chad Bitcoin moon

Reminds me of the good ol days

Congrats hodlers

[StevieSparkZ]

Reminds me of the good ol days

Congrats hodlers

2017 was an incredible year for crypto!