Sure BTC can fork and has twice before at least.
The thing is, the miners stayed mining the true BTC.
And if anyone tries to fork to a “new” BTC that has a higher supply… the miners won’t adopt it.
This is why it is so great. It is a truly decentralized, and actually democratic system.
No single person can decide to do anything.
And I’m only talking about bitcoin here, not eth. Obviously eth has no max supply… :)
Bitcoin cannot be printed from thin air. That’s why it’s more valuable than a fed reserve note.
Gold backed dollar doesn’t destroy the fed. They CAN STILL print new dollars. Yes this will inflate gold value but what happened last time??? Gold was confiscated by the populace.
The beast system can be implemented with any currency.
The other question I have in mind is:
If miners have to pay a 30% tax equal to 30% of the electrical cost... Does that negate the tax they already pay on their gross profits from mining itself?
Because if it does... then it actually will have almost no negative impact, might even make mining more profitable in America than it is today.
I develop many projects that use OpenSea.
Theres nothing a nft contract can do to pause offers on OpenSea. He can stop trades from being able to be completed but not offers.
Offers is purely a opensea function that has no reliance on the nft’s contract code.
Is it possible that there just haven’t been any new offers come in? :D
Exactly
It is not possible to create any more new bitcoins (outside of what is left to be mined which is only a few million).
This is exactly why BTC will continue to rise. And it’s exactly why gold doesn’t rise with any sort of similar pace. Gold can be quite literally be grown in labs.
It already exists multiple times..
PAXG XAUT
They are valuable cryptos but not as valuable as gold. Which is a very slow rising asset. In fact it is slower than the top 100 cryptos.
BTC, ETH, these two will continue forever and out perform every other asset class going forward for the foreseeable future.
You do realize that many of the reasons gold was originally valuable… are the same reasons bitcoin is valuable.
- Hard to mine and obtain it.
- Scarcity
- Usefulness (gold became a bartering tender… Bitcoin is becoming a global bartering tender).
Nah, the market does react to the fact the halving is happening and that does cause a pump and dump type of market, but overall the price still rises significantly.
This is how btc has gone from $0.07 -> >$50K in 15 years.
It's the halvings.
When BTC first started, the block reward to miners was 50 BTC, today it is only 6.25 BTC, and in 50~ days it becomes 3.125 BTC.
Shortly before the halving, every time, miners are always barely profitable. The halving makes mining not profitable. Miners are forced to literally refuse to sell their BTC for anything less than a higher value to break even or make some profit on their electrical cost.
The miners drive the market and control it because the miners are the sole providers for new liquid bitcoin. Any NEW bitcoins that are put into the market, were sold into the market by a MINER who paid electricity to obtain that bitcoin.
So while yes there is a bit of fomo during halvings that causes a bit of a pump and dump... It is still going to result even after the dump, with a higher value BTC.
It is so calculable that we already know BTC will hit $85-87K this halving, any higher is additional gains from other factors (like etf's finally having to buy the btc to fill their orderbooks). I suspect we will maybe touch $100K this season.
And the next halving, we will see $300K+ BTC. Over just 4 years. And there is basically nothing that stops that from happening. The only way this doesn't happen is if the US Dollar becomes HYPER valuable and deflates significantly (not going to happen!).
BTC will break $1Million per coin in 2031.
Well ending the current financial system where govt's are effectively able to continuously enslave us with... is part of the plan... and Bitcoin is the only true threat to that system. We may still use dollars with whatever new system is implemented... but bitcoin is the catalyst for making the current system collapsing be something that won't destroy the world, because we have a great alternative that exists, is immutable, global, and efficient. It's called Bitcoin :).
And to be honest with you, I truly believe people who have no btc... are going to be very sore when the current system collapses. So yes, I am saying if you have no btc and only precious metals you are going to be semi-fucked. You will have issues "spending" your metals, when stores all accept Bitcoin because it is far easier and more realistic in a time like that... than precious metals.
Holding only precious metals, you'll eventually have to liquidate them for Bitcoin (at a MUCH higher per-BTC cost than today).
I think having SOME gold and silver is a very good idea. It will hold it's value and can be converted into goods for sure. But for the day to day regular spending... BTC will be king, and I think obtaining some of that has been a very good idea, it would have been better though if people did it when I first started talking about it.
Keep in mind, my overall thinking is no more than 10% of anyone's worth should be invested into ANYTHING. So overall I am only talking about that 10%... I believe the smart play is having some portion of that 10% be placed into BTC. Not all of it, but some of it. Even if you change your mind after some months, we are in the middle of a bull run so selling and getting out will likely result in a financial gain overall. The risk is very low, far lower than the risk of being wrong that BTC won't be the primary currency if/when the shit hits the fan with the current system. It's just my opinion. My thread is to just point out to those I have argued with in the past, that what I have told them all year was going to happen... is happening.
It isn't being pumped for any other reason than the same reason it pumps every few years.
The halving.
In 50~ days, the amount of BTC miners will earn for their proof of work mining will be cut in half. Thus doubling the "cost" to obtain new BTC, thus creating scarcity and higher supply & demand, and a higher price.
This is a very predictable, calculable, and reliable pumping for BTC. It is the main source of every big BTC pump in history.
This is factually not true.
A very low percentage of the total money in BTC was purchased through stablecoins, and very little of it liquidates through stablecoins as well.
I do know that Tether is a ticking time bomb, but it has no real bearing on bitcoin itself. Yes, when tether goes boom it will hurt the crypto market and BTC price will come down some, but it will be temporary. Just like every other "disaster".
I don’t give a shit if it’s the wrong way to get my point across.
Look at past threads and the ways people would talk to me when I was trying to be completely wholesome and concerned and trying to alert people to the fact that BTC is part of the plan and we need to stop shitting on it.
This is why I talk the way I do now, about BTC.
I know my thread will change no minds. My thread is purely to poke the beast and to reveal to them that THEY WERE WRONG.
Idiots were trying to say BTC would go to $0 because of the etf, lmao.
Congrats and I hope all went well!