/biz/ - Business & Finance

[Anonymous No.24443674]

>there are "people" on /biz/ RIGHT NOW that don't have at least 1 (one) BTC

[Anonymous No.24443690]

So good to see these scammers seething.

[Anonymous No.24443716]

Bitcoin it´s slow, expensive, not private and easy to manipualte. It has too many potential pitfalls to fall down. For example;

>Miner regulation. The location of every bitcoin miner can be found and these miners will eventually be regulated by the government. There are articles on why this is likely.

>Coin distribution. Satoshi, his friends and early adopters hold a massive stack. More than 10% of the entire supply. If satoshi or any of the earliest adopters chose to sell, the market would panic and crash. Because of loss in confidence. Combine this with institutions holding more and more, further centralizing coin distribution.

>A lack of usecase. Bitcoin has too few usecases to rest on and fall back on. Speculation/gambling is by far the biggest usecase. When this usecase loses momentum and dies down, it has no attractive usecases to fall back on. A crypto should have as many usecases as possible. Broad usecases are a force against centralization and manipualtion. Almost every system trends towards centralization, and this will likely happen with bitcoin as well, because it doesn´t offer enough usecases.

>Undercutting and selfish mining problems when there is no block rewards. There is a good research paper written on this by Princeton university. Undercutting and selfish mining might become a big problem, and definitely more likely without block rewards.

[Anonymous No.24443730]

>>24443716

[Anonymous No.24443736]

>Coins being lost forever. 4 million coins are alreadt estimated to be lost, and this number increases with thousands of bitcoin every week. In the end, there will be very few, if not any bitcoin left in circulation. This ties together with the lack of usecases problem. When eventually a large portion of the supply is lost or locked up in funds, liquidity will drastically decrease. Bad liquidity is very bad for speculation, which is the main usecase of bitcoin. Price will likely be even easier to manipulate and more volatile, not less, as some people like to claim. In the very long term, there is likely to be zero bitcoins left in circulation, rendering the network useless.

>Competitive cryptos offering more value: Other cryptos innovate at a much faster rate than bitcoin, so these other coins will grap more attention and hype in the future than bitcoin does. This will drive speculation and money into other cryptos, and drive money and speculation (BTC main usecase) away from bitcoin.

>Off chain transactions: More and more transactions will likely take place outside of the bitcoin blockchain, because of wrapped btc and such. The possibility to transact a wrapped bitcoin on another blockchain will drive traffic away from the bitcoin blockchain and miner revenue will decrease, and therefore the security of the network. Transaction fees will over time trend towards zero, which will lead to whoever uses the bitcoin blockchain is paying for the security for the rest of the network, leading to even more off chain transactions, and increasing the likelyness of undercutting.

[Anonymous No.24443748]

>>24443716
>>24443730
This is good for Bitcoin

[Anonymous No.24443756]

Bitcoin doesn´t have enough usecases to anchor a wide variety of different players using the coin for different things. This will lead to centralization and manipulation, and it will never become a robust currency. Other cryptos will grab the attention and the hype in the future, taking that away from bitcoin. Bitcoin has not proven to be a good store of value or a good currency. It needs more usecases, but other cryptos can offer much more value in the future. Conclusion; bitcoin will eventually go to zero given a long enough time frame. In 100 years, most of the supply will be lost forever, and liquidity wil be low. Each satoshi needs to be worth a lot of money, which proves that it´s not an robust currency if it relies on this factor to succeed. Lightning network also intoduces another mix of problems that I won´t delve into here.

On the Instability of Bitcoin Without the Block Reward

https://www.cs.princeton.edu/~arvindn/publications/mining_CCS.pdf

economics of “proof-of work” in cryptocurrencies

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

https://medium.com/block-digest-mempool/things-bitcoiners-dont-want-to-hear-33823c2e984

https://bankless.substack.com/p/btcs-monetary-policy-is-overrated

[Anonymous No.24443765]

>>24443748
Delete this