/biz/ - Business & Finance

>Bitcoin's price = NOT the result of organic real-world supply & demand = NOT sustainable
Wash trading has been artificially driving BTC's insane price action since 2013.

>Wash Trading 101
1. create/maintain the illusion of high volume
2. wait for poor unsuspecting fools to FOMO in
3. dump at a fat profit and leave them holding the bag
When the supply of gullible fools finally runs out, the entire scheme implodes.
Price action means nothing in an unregulated market rife with manipulation, real-world utilization is the ONLY reliable metric of actual value.

>No tail emission = Bitcoin is fucked
Right now, at the current hashrate, miners break even on energy expenses at a BTC price of $22K. Post 2024 halving, that break even point, at the current hashrate, goes up to $44K. If BTC does not go to $44K, miners will be unprofitable and hashrate will have to drop (miners going out of business) to reduce the cost of securing the network, also reducing the security.
If you know anything about the power of 2, you already know that things get very big, very fast. If we’re 3 halvings into 32 total halvings, then the estimated break even point for miners at current hashrate going into the last halving would be:
$22,000 * (2^27) = $2,952,790,016,000 per BTC
$2,952,790,016,000 per BTC * 21 Million total BTC = $62,008,590,336,000,000,000 BTC Market Cap
Block rewards shrink so fast that BTC will eventually require a $2.95 trillion price per BTC and a $62 quintillion market cap to sustain current costs of $7.15 billion/year.
Even if these numbers were realistic, can you imagine securing a $62 quintillion mcap on only $7.15 billion/year of hashrate? LOL
So BTC mining will eventually become so unprofitable the hashrate (security) will shrivel up UNLESS it is subsidized by transaction fees.

https://cryptostackers.substack.com/p/bitcoin-is-not-a-store-of-value

In short: Bitcoin is going to zero while coins like Monero with ACTUAL utility take the number one spot

>>56379855
If BNB doesn't actually pumpa and binance can'tt defeat the sec I won't be able to buy the new iPhone for my gf without being financially doomed for at least two months