re: Official CryptoTalk Thread

FIFY

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There’s a lot to unpack from the last 24 hours

I’m still digesting and trying not to make any rash decisions

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I think musk tweets and the pipeline ransom are overblown FUD, the market being volatile over-reacted as it does. hacking ransoms are nothing new. a quick google shows plenty of much larger crypto hacking ransom schemes without shattering the market. some crypto ransom schemes in multibillion dollar range of damages.

its probably as simple as musk influencing prices and speculation as he has done with TSLA and more recently DOGE. miners are still going to be mining btc regardless of energy issues. there is nothing to see, except speculation of POS shitcoins gaining more favorable outlook for shilling by whatever percent of crypto holders are concerned about energy.

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CE Tiger

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I sent my crazy crypto cousin chasing after Pulse after it was pumped in this thread a few times. He came back with the same response, glad to see a second opinion on it

He mentioned Arbitrum? I think this is really getting overlooked right now . It basically will take a lot control out of the Eth miners and really allow for a fair blockchain.

What do you mean by fair?

There’s a lot of talk that Eth developers and miners are front running these decentralized exchanges because they can see the contract ahead of time.

This explains it better than I can

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A miner has control of what order transactions go into in a block, and can also insert their own transactions. So say a miner receives a buy order for 1 million LINK, that is going to push the price of LINK from $40 to $50. The miner can put their own LINK buy order in ahead of the transaction, buying at $40, then the big transaction goes through, then the miner puts another transaction selling the same amount for $50. The miner gets free money, the person putting the big buy order in loses out because instead of getting at $40 they have to buy after the miner and get a worse buy in price. And this all happens within the same block so there is no way the miner loses. FSS, Fair Sequencing Services is a way to get oracle networks to guarantee that transactions in a block execute in the exact order that they were made. No more frontrunning, or "sandwich transacting" (where the miner puts the big order in a "sandwich" of their own orders). MEV is literally just middleman profiteering, it's exactly what crypto was made to remove, and watching the ETH inner circle go berserk about Ari calling it out is a sign of how far they have fallen.

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I'm struggling to see how these corporations stay in business in the us much longer.

when the us gov/fed runs us off the rails btc will be the one and it will be sky high.

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yea institutional adoption might not be a reality in the near future but I guess we never know

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But without large scale institutional adoption, we're much more likely to see another severe crypto winter. Feels like for those not already invested in crypto, the better play may be to buy in during the '22-'23 winter for the next bull run with the '24 halving cycle.

Elon saying “don’t panic”

This dude is playing games. I’m thinking your theory of green mining sponsored by Tesla may not be the craziest possibility here.

We don’t need regulation. As much as it sucks, let the market figure itself out. This is what we signed up for.