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submitted by /u/likesoamazing [link] [comments] |
Saturday, 2 April 2022
Billionaire Mike Novogratz has called for a softer stance on Bitcoin and other Crypto
Mike Novogratz, an American investor and billionaire, says he is much more optimistic about the cryptocurrency market now than he was a month ago. The current CEO of Galaxy Investment Partners explained that bond sell-offs and increased crypto adoption have boosted cryptocurrency prices, particularly bitcoin.
Explaining why he is more optimistic now about Crypto than he was six to seven weeks ago, he said that maybe what he got wrong about making money in fixed currency was that money has to go somewhere.
He also prophesied earlier this month, when BTC was struggling to push through the $40,000 barrier, that bitcoin's price would range somewhere around $30,000 and $50,000 for the rest of the year.
According to Bitcoin.com Markets, bitcoin is currently trading at $47,327 at the moment of writing. He further explains that the adoption of crypto is fast increasing and will only continue to increase
He then commented on President Joe Biden's executive order on cryptocurrency regulation. "It was very interesting in that presidential decree because there was no Elizabeth Warren's or Gary Gensler's voice in that thing, and they'd been running crypto policy until then." "That's a plus," Novogratz said. Many in the crypto space share his optimism, viewing Biden's executive order as beneficial to the crypto space.
In summary, more personalities are beginning to see the benefit of crypto. It not only posses financial benefits, it also possesses Environmental benefits by reducing the use of cash.
With all these it should be noted that crypto is still in its early stages and with cryptos like $Darc and $Polygon recently arriving on crypto marketplaces, it is clear that crypto is the future of finance and we can only witness Blockchain reach greater heights.
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source https://www.reddit.com/r/btc/comments/tty0sr/billionaire_mike_novogratz_has_called_for_a/
The carbon footprint of Bitcoin and miners is decreasing
All the attention and reprimanding from mass media has finally gotten to Bitcoin miners it seems and many are trying to make a greener world and attempting to decrease their carbon footprint.
CoinDesk recently run a report on a Northern Italian small municipality using hydropower to mine Bitcoin.
“The northern Italian regions bordering the snowy Alps are home to dozens of hydroelectric power plants in a range of sizes, thanks to the abundance of water and varying altitudes. TRENTINO, ITALY – Daniele Graziadei, the 37-year-old mayor of Borgo d’Anaunia, a small municipality in the northern Italian region of Trentino-Alto Adige, entered the 100-year-old Alta Novella hydropower plant with familiar ease.
This year, under the leadership of Graziadei, Borgo d’Anaunia, home to around 2,500 people, became Italy’s first municipality to run a crypto data center.”
In fact, this is not the only case of its kind. Another Swedish village has been using mining rigs to power the electrical rig too.
“Around 15,000 cryptocurrency mining rigs are humming away at HIVE Blockchain’s (HIVE) 30 megawatt (MW) data center in Boden, Sweden. But not all the time. Sometimes, the facility powers down to help the local grid. The data center, drawing cheap energy from local hydropower producers, acts as one of the largest, if not the largest, active energy reserves the Swedish grid can call upon whenever there are major disturbances to the local power supply. The facility can shut down its machines almost instantaneously so that energy can quickly be diverted to public use.”
It now seems to be the case that Bitcoin and Bitcoin miners are not just decreasing their carbon footprint, but make the world greener too.
Full disclosure, this could be even easier with the advent of DeFi into the scene. Once community-run DAOs get the upper hand in rule, people could actually vote for what comes to benefit them, rather than be bound by the choices of centralized corportations. Some DAOs like the Alps foundation, or Hive or even Aloha DeFi provide a new world for users all around trying to get the best of all these worlds. DeFi DAOs, NFTs and everything that will make the future cleaner, greener and better.
The incentives between energy producers and miners are so aligned that soon it might be difficult to draw a line between the two. More energy firms are entering mining, while miners are accumulating their own energy supply. Voltus has created models to determine exactly how much flexibility is worth to crypto miners: in Texas, $37.53 per megawatt hour, whereas in New England, it’s $6.69. per MWh.
Energy companies that stay out of bitcoin mining will leave money on the table, “because mining most of the time is much more profitable than selling the energy to the grid.”
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Bitcoin-Core devs announce they will be increasing the block size.
Bitcoin-Core devs have announced that they will slowly be phasing in a new block size increases. The first new code will be committed today for new releases of Bitcoin Core.
As we know, almost every BTC block is full, and the transaction fees have been huge.
About 1 year from today, on 2023-04-01 the block size will increase 1MB. Then again on 2024-04-1, and again on 2025-04-01, and will continue as long as they have support from the miners.
So if you follow the pattern, the block size will increase 1MB every April 1st. Why April 1st? Because Happy April Fools Day!
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source https://www.reddit.com/r/btc/comments/ttxytw/bitcoincore_devs_announce_they_will_be_increasing/
The Bulls are back! Bitcoin almost hit 48k again! Was on the verge of a 9-day Win Streak.
BTC was about to hit a nine-day winning streak — but couldn't, as its recent price momentum appeared to have slowed down at least temporarily.
This was maybe due to the exploit that Axie Infinity’s Ronin Network suffered. It was a $625 million hack, which is probably the largest exploit in DeFi history!
But the dip has been bought up as bitcoin remained above $47,000, a sign of great strength amidst the news of the hack. Even AXS, the governance token for the Axie Universe held up quite strongly. This builds faith in retail investors that the fundamentally sound projects such as Plastiks, Decantraland, and Sandbox that are linked to the NFT marketplace will likely show strength as well. Plastiks serves as the bridge between plastic producers and recyclers, where you can tokenize your recovery data for monetization. Decentraland allows you to buy and sell digital real estate, while exploring, interacting and playing games within their virtual world. And, Sandbox provides a virtual environment where you can build, own, and monetize your gaming experiences! Such projects will very likely thrive as BTC trends up.
Further, the 8 consecutive green days seen on the BTC chart are interesting because in the past decade, Bitcoin has had an 8-day win streak only 16 times. And most of those streaks were back in the very early days. In addition, each such streak has led to massive rallies, so we might see a six-figure BTC by the end of the year! Fingers crossed
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source https://www.reddit.com/r/btc/comments/ttxlyb/the_bulls_are_back_bitcoin_almost_hit_48k_again/
Friday, 1 April 2022
⚡ Lightning Thursday! March 31, 2022: Explore the Lightning Network!⚡
The lightning network is a second-layer solution on top of the Bitcoin blockchain that enables quick, cheap and scalable Bitcoin payments.
Here is the place to discuss and learn more about lightning!
Ask your questions about lightning
Provide reviews, feedback, comparisons of LN apps, services, websites etc
Learn about new LN features, development, apps
Link to good quality resources (articles, wikis etc)
Resources:
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Here is an awesome list of resources compiled by Jameson Lopp: https://www.lopp.net/lightning-information.html
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Want to test out your lightning fire power? tip the Bitcoin devs! https://bitcoindevlist.com/
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Previous threads: Search
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Lnbook getting closer towards being finished and can already be seen at: https://github.com/lnbook/lnbook
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Lightning Dedicated YouTube Channel: https://youtube.com/renepickhardt
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Also there is the playlist by chaincode labs: https://youtube.com/playlist?list=PLpLH33TRghT17_U3as2P3vHfAGL8pSOOY
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Lightning stores: https://www.lightningnetworkstores.com/
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Learn more and talk about lightning right here in r/Bitcoin, r/bitcoinbeginners, r/thelightningnetwork, and the r/Bitcoin chat
[link] [comments]
Thursday, 31 March 2022
Wednesday, 30 March 2022
Daily Discussion, March 29, 2022
Please utilize this sticky thread for all general Bitcoin discussions! If you see posts on the front page or /r/Bitcoin/new which are better suited for this daily discussion thread, please help out by directing the OP to this thread instead. Thank you!
If you don't get an answer to your question, you can try phrasing it differently or commenting again tomorrow.
Join us in the r/Bitcoin Chatroom!
Please check the previous discussion thread for unanswered questions.
[link] [comments]
Tuesday, 29 March 2022
Indian Couple Dupes Bitcoin Investor Promising Higher Returns. Scammers keep paint BTC as bad.
The victim had given $19,000 to the accused for investment in bitcoin but never got it back
The lack of knowledge among common investors about cryptocurrencies and how to safely invest in them is resulting in a growing number of frauds.
In a recent example, the Crime Investigation Department (CID) of Ahmedabad Police in India’s Gujarat province registered a case where the victim was duped of Indian Rupees (Rs.) 22 lakh (approximately $27,000).
As per the First Information Report (FIR) lodged with the police, Harshad Patel was introduced by his friend and business partner Kamlesh Patel to a couple to help him invest in bitcoin in 2017.
The couple, Alpesh Suhagia and his wife Bharti Suhagia tried to convince Harshad to invest in BTC, saying its price had soared to Rs. 70,000 in 2017 from Rs. 10 in 2009. This prompted Harshad to give Rs 15 lakh (approximately $19,000) to the Suhagia couple to invest in bitcoin on his behalf.
Scammers like this make it difficult for people to trust Bitcoin. I have come across several of them in my time, but I always ignore them. Why not try out jobs in bitcoin like writing, content creation, instead of scamming or even join companies that are changing the world with Bitcoin like Square and Social Good instead of scamming. Come on now.
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source https://www.reddit.com/r/btc/comments/tqfh2x/indian_couple_dupes_bitcoin_investor_promising/
Inflationary vs deflationary monetary policies
I grew up studying Keynesian economics at school, for me, inflationary economics is a core theory that I’ve never questioned. The thinking goes like this:
Moderate inflation is needed so that people are incentivised to spend instead of save, more spending creates more jobs, more jobs lead to a better economy and a bigger GDP.
There are many more reasons that are taught in school why moderate inflation is good and the alternative is a disaster. So much that I have never heard of or tried to look into deflationary theories, or Austrian economics.
Recently, I listened to a podcast from Jeff Booth, author of “The Price of Tomorrow” and baffled by a totally different way of thinking:
Technology is deflationary by nature: technology combined with economy of scale mean people produce more stuff for cheaper over time. As human automate more, the logical result is less jobs, not more jobs, or shorter working hours, not longer working hours.
In order to push “more jobs” using an inflationary theory, to go against the natural course of technological advancements, there are two things that must be done: - People must be encouraged to consume more and more, this could lead to consumerism and environmental wreckage - Currency must inflate almost as fast if not faster than the deflationary speed of automation. As only government can print money (inflate a currency), the money printed naturally cause a concentration of power around entities funded by/ benefited from the government. Unless there is close to perfect redistribution of value, the wealth gap gets bigger over time.
🤯 Mind blown
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Russia may accept btc for its oil and gas because of sanctions
Russia might accept bitcoin as payment for its oil and gas exports as Western countries stiffen sanctions.
In a videotaped news conference on Thursday, the chair of Russia's Duma committee on energy said in translated remarks that when it comes to "friendly" countries such as China or Turkey, Russia is willing to be more flexible with payment options.
If this is true, this year alone, we have seen a revolution of the bitcoin space, as more countries and regions are becoming more interested in it. What of the Web3 and advancement of the open source space spearheaded by the likes of UniSwap, Tea, Curve, Compound and so on.
This is amazing.
Chair Pavel Zavalny said that the national fiat currency of the buyer — as well as bitcoin — were being considered as alternative ways to pay for Russia's energy exports.
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source https://www.reddit.com/r/btc/comments/tqfe45/russia_may_accept_btc_for_its_oil_and_gas_because/
Monday, 28 March 2022
Reddit subs that are very anti-crypto?
I recently made the mistake of mentioning in r/sysadmin that since the fact we now have very good residential lines, and since streaming kicked off, I removed all my movies/tv shows and now days blockchain data takes up most of the space on my HDDs, followed by games, and then music.
I got absolutely hammered, called names and all sorts for two days over this.
Apparently I'm evil compared to the guy with 100TB of pirate movies in his NAS?
What other subs are like this? So I can avoid mentioning it in them?
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source https://www.reddit.com/r/btc/comments/tpq4vp/reddit_subs_that_are_very_anticrypto/
The Bitcoin Paradox
I love Bitcoin ever since hearing about it.
I love it because it is freedom and liberty.
But there is as I see it a paradox emerging- or more like a contest.
Nation states have derived huge power via fiat money- they along with banks can issue fiat to fund wars or projects to buy votes or gain power. The USA has enjoyed the greatest fiat monetary power being the world reserve currency since Bretton Woods. The vast wealth that being global reserve currency issuer givces the USA has enabled it to maintain global power and dominance but that dominance is waning and US debt is massive- probably impossible to repay. Now China is seeking to challenge that power and dominance. China is building Belt and Road and China is seeking to make the Digital Yuan the new global currency. Saudi Arabia is now considering selling oil for Yuan. Russias invasion on Ukraine is a declaration of war upon the current USA/Europe power.
China has banned Bitcoin and will expect its allies to use Yuan. While USA and Europe still allow BTC. In fact most countries to have banned BTC are autocratic undemocratic and corrupt. Because BTC respects and empowers the individual at the expense of state power.
So the paradox is - does BTC adoption potentially undermine the USD and western liberal democracy and enable Chinese Autocracy to gain global domination?
This is the unsure aspect- perhaps nobody wants Chinese money and the lack of transparency that goes with it.
Or will USA Europe ban BTC if they feel it is allowing value to drain from their fiat hegemony while they are also being challenged by a rising China?
Just my thoughts maybe Ive got it all wrong?
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Sunday, 27 March 2022
Realistic future market cap of BTC and BCH
Currently BTC market cap is 800 billion dollars. BCH is about 6 billion dollars.
What will BTC and BCH market cap be in the next 3 years, 5 years, 10 years, 30 years, and so on?
[link] [comments]
source https://www.reddit.com/r/btc/comments/tp2ela/realistic_future_market_cap_of_btc_and_bch/
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