/biz/ - Business & Finance

>>18992494
There's obviously gonna be a pump. There are too many big players in BTC for it to die.

The market cycles get longer each time. The bull run will actually start in 2022.

https://medium.com/@breedlove22/the-number-zero-and-bitcoin-4c193336db5b

https://www.youtube.com/watch?v=F8lfLqnhuGs

https://www.youtube.com/watch?v=i0N9qj4gjmg

https://www.youtube.com/watch?v=73a1f5nIi8E

2016 - 2020 1,800 bitcoins mined per day
2020-24 900 bitcoins mined per day
24-28 450 bitcoins mined per day
28-32 225 bitcoins mined per day
32-36 112.5 bitcoins mined per day
36-40 56.25 bitcoins mined per day
40-44 28.125 bitcoins mined per day
44-48 14.06 bitcoins mined per day
48-52 7 bitcoins mined per day
52-56 3.5 bitcoins mined per day
56-60 1.72 bitcoins mined per day
60-64 87 million satoshis mined per day.
64-68 43,5 million satoshis mined per day.
68-72 21.75 million satoshis mined per day.
72-76 10.875 million satoshis mined per day.
>>

>>18992545
https://www.youtube.com/watch?v=uuNIHRO19Cw&lc=Ugym_4n57kOsfc_4Myx4AaABAg.98TOvFGQrfT98Tg-uG47bB

>>18992521
That, and Tether printing, cheap interest rates etc.

>>18992545
https://www.youtube.com/watch?v=LGR8VmW6p8c

>>18992545
All I see is declining security budget is this fud lol?

>>18992637
You have no idea what bitcoin is. I have a vague idea of the end result of bitcoin.

It will completely change the entire world forever.

>>18992648
LMAO

>>18992494

>>18992693
it will never happen to you

>>18992494
>Segwit
>1 mb blocklets
>No patents
>Not compliant with international law.

Fuck off BTC.

>>18992520
>>18992699
Nice meme lines, faggot

>>18992693
Cringe post. Are you even here when it was $8? Things are a lot different today than in 2011.

>Exorbitant fees
>Flooded mem pool
>Hours to carry out a single transaction
>4 tx/s

Fuck right off.

>>18992648
BTC is just a shitcoin, and there better ones out there
>>18992494
OP is right
>>18992545
supply means nothing, it is about, who the fuck will buy at 100k

>On the Instability of Bitcoin Without the Block Reward
https://www.cs.princeton.edu/~arvindn/publications/mining_CCS.pdf
The most in-depth paper written on bitcoin EVER
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."

>>18992648
Dumbest ad hominem attack not replying to fair question ok moonboy lol

>>18992648
if bitcoin changes the entire world forever it'll be because of it originating the concept only, there's no way a superior technology doesn't fully replace it

>>18992521
not forever, hype is slowly dying and at one point it will be a losing game keeping the price up. Smart money will exit bitcoin slowly over time.

>>18992744
>Cringe
>Are you even here when it was $8?

You need to go back

no one wants to buy at 10K so imagine at 100K

lol

>>18992751
>Lightning Network
Lightning Network does not work, literally, it has to be settled on the main layer, it add more weight

>>18992693
Fuck, I bet that guy's hung himself by now.

>>18992494

>>18992771
This. I am slowly putting money into other POW "muh store of value coins"
Check Nervos.

We have argued that deviant mining strategies in a transactionfee regime could hurt the stability of Bitcoin mining and harm the ecosystem. In a block chain with constant forks caused by undercutting, an attacker’s effective hash power is magnified because he will always mine to extend his own blocks whereas other miners are not unified. This would make a “51%” attack possible with much less than 51% of the hash power. Many other unanticipated side-effects may arise. In the block size debate, it is frequently argued or assumed that space in the block chain will be a scarce resource and a market will emerge, with users being able to speed up the confirmation of a transaction by paying a sufficiently large transaction fee. But if miners intentionally “leave money on the table” when solving blocks, as is the case in undercutting attacks, it breaks this assumption. That is because undercutting miners are not looking to maximize the transaction fee that they can claim, and don’t have a strong reason to prioritize a transaction with a high fee.9 Put another way, the block size imposes a constraint on the total size of transactions in a block and the threat of being undercut imposes another constraint on the total fee. The two interact in complex ways. We believe that qualitatively our results will continue to hold in a world where the available block size is much smaller than the demand, but quantitatively the impact of undercutting will be mitigated (see end of Section 3.1). Still, it is an important direction for future research to understand this connection more rigorously. Despite the variety of our results, we believe we have only scratched the surface of what can go wrong in a transactionfee regime. To wit: we have not presented an analysis of miners whose strategy space includes both undercutting and selfish mining, primarily due to the complexity of the resulting models.

"Unfortunately, there is reason to expect that the demand for transactions will fall to very low levels. People are likely to make use of off-chain transaction mechanisms via trusted third parties, particularly for small amounts, in order to alleviate the need to wait for confirmations. Payment processors may only need to clear with each other infrequently. This scenario is not only economically likely, it seems necessary given the relatively low transaction rate supported by Bitcoin. Since blockchain transaction will have to compete with off-chain transaction, the amount spent on transactions will approach its cost, which, given modern infrastructure, should be close to zero. Attempting to impose minimum transaction fees may only exacerbate the problem and cause users to rely on off-chain transaction more. As the amount paid in transaction fees collapses, so will the miner’s revenues, and so will the cost of executing a 51% attack. To put it in a nutshell, the security of a proofof-work blockchain suffers from a commons problem[9]. Core developer Mike Hearn has suggested the use of special transactions to subsidize mining using a pledge type of fund raising[10]. A robust currency should not need to rely on charity to operate securely"

>>18992693
literally me. I was a freshman in uni in 2010 and this friend of mine who was the group's nerd asked me if I wanted to buy 100€ worth of his weird internet money because he had put all his meagre savings in it but now he needed cash urgently. I was like, nah man I don't need your make believe money, I'll just borrow you 100€ and you'll give me back when you can. I wonder where that guy is now

>>18992769
>fractals
ngmi

>>18992494

I do believe crypto is the future, but not Bitcoin. It takes way too long to make a transaction. I believe Bitcoin will stay around for a while but ultimately surpassed by better cryptos. The more people develop an interest in Bitcoin the more they will realize the potential of other altcoins and it will eventually shift away from Bitcoin to other coins t that have more of a real world use and application

>>18992699
>it will never happen to you
sure coz we're in a simulation right?

>>18992693
Nightmare fuel

>>18992693
he would have 14,790,000 million if he held for 3 years, maybe 9 million after taxes.

>>18993384
>>18993393
you can't be that stupid right

>>18993408
He can memes like that makes regular anons to retards like this>>18992648

S2F + FOMO

>>18993470

After the bubble popped in 2017, there were three trend reversals following that - on the 01/06/2018, the 02/06/2018 and the 03/06/2018. 666, the elite signaled that they have control over it now.

>>18993562
exactly

>>18993562
post data.

B-but bitcoin has no use case

>>18992539
Based

>>18992751
tell me why i should care about some princeton jew's opinion raju

>>18992749
>who the fuck will buy at 100k
Billionaires

>>18994243
If your currency is inflating at 10% and so you convert to a currency appreciating 20%, it doesn't matter what its priced at.

10% of $10, $100, $1000, $100000 is 10%

This has been the Math Minute, thanks for reading

>>18992494
Do you fuckers not even understand investing? Buy now before pump, if lose, buy more and wait for the real second pump. How can you lose anything if you just invest properly? Always buy when something tanks.

>>18992520
straight lines on log chart nice meme

>>18994277
>>18994314
>>18994276

good luck in your life, deluded loser.

>>18994277
except you have no idea if it will continue to tank or keep going up. look at the people that bought when bitcoin dropped from 20k thinking it was just temporary and it would go back up. were you one of the ones telling them to buy back then?

>>18992920
I used to think this but now I believe the difference is bitcoin is like the unreasonable man.

>The reasonable man adapts himself to the world: the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man.

The consensus protocol guarantees this. The more I've thought about the more I've come to believe that I hope no one ever improves it. I hope no one adopts it. I hope no one uses it to buy coffee. I don't tell people to buy it. As you can see it is doing fine without an organizational structure, an ad budget. It is being bought and no one is selling it. It is selling itself. There are only people who understand it, people who don't understand it, and people who think they understand it.

The modern economy needs a store of value with their inflatable currencies. As far as crypto goes, alt-coins are alternative technologies which fill their own niches, and as long-range price analysis shows, eventually evens out. New tech A is superseded by new tech B, and so on. So there is value and use cases, like there was for horses and buggies before cars and airplanes. Store of value needs a protocol that doesn't change, that is "hard", etc. And some cryptos have tried to be dumber and harder and have less use than bitcoin. Those projects failed, so why? The reason has to do with the ledger, and not the technology. All that stupid shit, first mover status, Lindy effect, etc.

When bitcoin is mainstream people will be buying a lot of it, and not really selling or transacting in it, except for perhaps large value purposes, like buying a house, or moving large chunks of capital across an organization, uses which require confidence & security, not confirmation time.

There will be crises and technological challenges and contentious forks, but these "innovations" can't influence the "unreasonable" aspect of the asset holders. They will say, thanks very much for the BSV, or BCH, and buy more BTC.

>>18992751
i read this part
they will not announce their block to
the rest of the network. They will continue to mine on their
private block, hoping to find a second block before the rest
of the network finds a block.

they have no idea how hard it is to get 2 blocks ahead.