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/biz/ - Business & Finance

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24255521 No.24255521 [Reply] [Original]

Every time someone will use PayPal to buy and transact BTC, a miner will lose his fee. Miners will eventually turn off as brick and mortar close against Amazon. There is no future for Bitcoin

>> No.24255560

>>24255521
wrong , as price goes higher rewards in fiat term go up and so do fees in sats.

>> No.24255563
File: 131 KB, 1242x1375, 0E17BBA3-2711-4DAC-AA94-7D699AFE247F.jpg [View same] [iqdb] [saucenao] [google]
24255563

That’s why we have Link

>> No.24255682

>>24255560
Why people would use on-chain slow and expensive transactions when they can use fast and cheap centralized L2 solution like PayPal? Bitcoin is tulip mania, this will not last then another 10 years

>> No.24255769

>>24255521
>Every time someone will use PayPal to buy and transact BTC, a miner will lose his fee
sorry, why is that?

>> No.24256048

>>24255769
When you send BTC through PayPal you are not using the Bitcoin network but the PayPal private ledger

>> No.24256083

>>24255521
IF there are less miner, the hash complexity will decrease accordingly, requiring less miners.

>> No.24256187

>>24256083
The purpose of miners is securing the network from 51% attacks. There will be a point in the future where the hash power will not be enough to secure the network against attacks

>> No.24256460

>>24256187
you have no idea what a 51% attack is, what is the "reward" for the attacker and what participants in the network can do if such an attack happens

>> No.24256781

>>24255521
>a miner will lose his fee
neat

>> No.24256896

>>24256048
Then these transactions wouldn't be reflected on the Bitcoin network and you wouldn't be able to buy things outside of Paypal's BTC network, i.e. everywhere else that takes BTC.

That would be caught immediately if this were the case.

>> No.24256918

>>24256048
>the PayPal private ledger

lol no. they'll just use a database.

>> No.24256956

>>24256460
I've seen 51% attacks going on Ethereum Classic. It's not difficult to understand: the hacker can buy hash power for his attack and get rewarded by double spending if he can overwhelm 51% of the total hash power

>> No.24256974

>>24255682

>Btc is tulip mania

lel totally different

>> No.24256993

>>24255521
It doesn't matter since people aren't going to use bitcoin to buy shit.

>> No.24257009

>>24255563
jesus dude, link is a scam

>> No.24257035

major btc fud lately
are we expecting a run to 50k?

>> No.24257074
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24257074

>>24256781

>> No.24257158

>>24255560
>as price goes higher rewards in fees in sats go up.
Wrong.

>> No.24257344

>>24256048
no, they just do off-chain transactions
you're a brain-let-it-be

>> No.24257370

>>24255521
But the future is now though!!

>> No.24257418

Every time a bell rings, an angel gets its wings.

>> No.24257992

>>24256956
where would they transfer the btc to double spend if no one takes it onchain and the mega corps such as paypal own 99% of btc? They won't even need miners in the future and btc will become fiat

>> No.24258049

>>24257992
>mega corps such as paypal own 99% of btc
not even 10%