Sanrith Descartes
Veteran of a thousand threadban wars
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Bitcoins/Litecoins/Virtual Currencies
- Thread starter Tripamang
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Flobee
Vyemm Raider
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Signature Bank was forced to close today. It is the third bank to fail in the past few weeks, and along with Silvergate is one of the main banking partners for crypto companies. I fully expect leadership to attempt to pin this banking issue to crypto. Regulatory assassination.
If you wanted to bet on this outcome, just go short these:
EDIT: You may not think Bitcoin is a threat to the USD long term, but it seems quite possible that the government is starting to
If you wanted to bet on this outcome, just go short these:
EDIT: You may not think Bitcoin is a threat to the USD long term, but it seems quite possible that the government is starting to
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Flobee
Vyemm Raider
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Mist
Eeyore Enthusiast
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I mean, that's his opinion as a private citizen and a member of the bank's board. Of course he's fucking butthurt they took his bank.
Flobee
Vyemm Raider
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If by saved you mean are bloating the blockchain with useless garbage then yea I suppose so. I suspect taproot will in the end be a mistake for Bitcoin. I would honestly say that the blocksize increase was also a mistake but we'll see I guess. That pump is due to the Fed's inevitable pivot and Bitcoin is the fastest horse when it comes to risk assets.
reavor
I'm With HER ♀
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Ordinals has been a huge boost for bitcoin in an otherwise bear market, tons of people who would never have touched on-chain bitcoin have been onboarded and prepared to leave Eth and acknowledge the rule of bitcoin. Big brand NFT studios are moving on to on-chain bitcoin bringing millions in pilot collections. Suddenly Bitcoin maxis hate mass adoption.
Flobee
Vyemm Raider
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Blockchain space is for transactions, not monkey jpegs. Cheering for NFTs on Bitcoin because it is "adoption" is like cheering for a skid row style homeless camp setting up outside your storefront because it means there is more foot traffic. Plenty of BTC "maxi's" disagree with that viewpoint but I would prefer the monetary ledger to have as few dickbutts drawn in the margins as possible.
EDIT: Just in case you didn't know, this is exactly why Vitalik created ETH in the first place. He wanted to add junk to the Bitcoin blockchain (expanding on colored coins IIRC, precursor to 'smart contracts') and the majority of Bitcoiners at the time did not support this and rejected his proposed changes. As such he left and created Ethereum where he could clog up his own blockchain with smart contacts.
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reavor
I'm With HER ♀
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computers were made for heavy calculations in research, not for wasting energy and resources on your silly games and storing your stupid images! phones were made for talking, not for taking your stupid photos!
Flobee
Vyemm Raider
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If you can't see the issue with cryptopunk #5437 taking up blockspace (both increasing storage requirements on all nodes and increasing fees for on-chain transaction) Then I would argue you don't actually understand what Bitcoin is, and what problem it was created to solve. If you want to dick around with NFT's do it on some altcoin chain where that sort of thing makes sense. Even take it to a BTC sidechain, which I think is eventually where this garbage will end up because no other blockchain will survive longterm, but I stand by the fact that its a gigantic waste of resources as it exists today.
Bitcoin has a singular focus, anything that interferes with that is an attack. Clogging blockspace with garbage makes transacting on-chain more expensive thus making it unrealistic for a larger percentage of the population. Same can be said for increasing the blockchain size (GB) with garbage, it makes running nodes more difficult and serves no purpose. Its not a big deal as it stands right now, but its a stupid idea that if left unchecked will cause major issues long term.
I prefer shitcoin games to be left with shitcoins
Kithani
Blackwing Lair Raider
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So what you’re telling us is we just need to invest in some sort of CryptoPlungerCoin so we can declog the blockspace and finally flush the shitcoins?
Sounds good.
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Flobee
Vyemm Raider
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Flobee
Vyemm Raider
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Twitter folks losing their mind over Fed's response to this banking issue. I dunno what to make of it right now other than we're likely to see inflation go wild over the next year or so. We'll see I guess, prob not a good time to be on 0 BTC though. Price up 32% in last 7 days
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pharmakos
soʞɐɯɹɐɥd
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I can't afford to invest since I'm living on disability. But last Friday when ETH was at $1400 I told a friend of mine that it was absolutely a good time to buy. I figured a lot of the money getting pulled out of banks was going to end up in crypto, and the smarter guys these days are tending towards ETH over BTC.
Price has gone up fucking 26% in the 8 days since then.
Reallllly wish I could afford to invest lol
Price has gone up fucking 26% in the 8 days since then.
Reallllly wish I could afford to invest lol
Arden
Blackwing Lair Raider
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Yeah, I held every coin I had over the last year and I'm glad I did. But buying at this exact second would feel a lot like chasing
pharmakos
soʞɐɯɹɐɥd
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Arden
Blackwing Lair Raider
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Buying on the back of a 26% gain in 8 days sure feels like chasing. Buying now feels like you're late to the party. You should have bought 7 days ago.
But who the hell knows? It could go up 200% in the next month. Normal rules don't exactly apply in these times
Former Coinbase CTO makes $2M bet on Bitcoin’s performance
Former Coinbase CTO Balaji Srinivasan has made a millionaire bet on Bitcoin’s price over the next 90 days, predicting it will reach $1 million by June 17.
www.google.com
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