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Message
re: Official CryptoTalk Thread
Posted on 11/12/22 at 10:10 pm to LordSaintly
Posted on 11/12/22 at 10:10 pm to LordSaintly
Not to mention you can stake a lot of stuff from cold storage these days.
1
Posted on 11/12/22 at 10:57 pm to BottomlandBrew
Exactly
Posted on 11/12/22 at 11:29 pm to BottomlandBrew
quote:
Well, crypto.com accidently sent 80% of their ETH to the wrong address.
This may not have been an accident.
The ETH was sent to Gate.io. Rumor is after the transfer, Gate.io did a proof of reserves check to show everyone they were solvent. Soon after, most of the ETH from Crypto.com was transferred back.
These are crazy times right now.
Posted on 11/13/22 at 12:53 am to LordSaintly
New lows incoming if more companies fold. With that said, I can't wait to buy the dip.
Posted on 11/13/22 at 9:09 am to Old Money
quote:lol. People that still think BTC is better than Eth are like the people that thought the car wouldn't overtake the horse.
BTC is still real and legit, ETH seems also like a mainstay. Everything else is garbage regardless of what anyone tells me.
Posted on 11/13/22 at 9:13 am to UltimaParadox
quote:so you have never heard of a DAO.
You still need a central authority you can trust to write said code. Because one update can wipe out everything
Posted on 11/13/22 at 9:23 am to CarRamrod
Eh he's still correct. You have to have someone/something push code updates, and it could potentially be malicious.
However, most web3 projects are open source and anyone can see dev builds and such.
However, most web3 projects are open source and anyone can see dev builds and such.
Posted on 11/13/22 at 10:12 am to CarRamrod
quote:
lol. People that still think BTC is better than Eth are like the people that thought the car wouldn't overtake the horse.
nah. ETH going POS ruined its chances of flippening. opened itself to US SEC regulation/jurisdiction. over 70% of nodes are centralized servers which means the network may be vulnerable to censorship.
BTC is king of crypto and will remain so for the foreseeable future.
Posted on 11/13/22 at 10:28 am to Hulkklogan
quote:
Got some receipts on this? I've only ever seen this used by BTC maxis that dont understand that staking pools operate just like mining pools
amazon owns over 50%. a total of 3 companies own more than 2/3 of the eth security network.
over 50% are in USA/germany and are subject to SEC regulation since going POS. gov could pass a law/EO/regulation that censors eth.
maybe i am missing something but POS seems to provide more problems than solutions since losing the decentralization of mining.
Posted on 11/13/22 at 10:30 am to AMS
You replied before I finished doing my homework 
In the short term, yes maybe so. Long term the vision is to have clients be very light, even being able to validate from cell phones.
Eta
Node requirements right now are much, much cheaper than they were with mining. Here's to hoping that can help decentralize.. I've been considering buying a NUC and running a node without staking (meaning I get no reward)
quote:
maybe i am missing something but POS seems to provide more problems than solutions since losing the decentralization of mining.
In the short term, yes maybe so. Long term the vision is to have clients be very light, even being able to validate from cell phones.
Eta
Node requirements right now are much, much cheaper than they were with mining. Here's to hoping that can help decentralize.. I've been considering buying a NUC and running a node without staking (meaning I get no reward)
This post was edited on 11/13/22 at 10:44 am
Posted on 11/13/22 at 10:38 am to AMS
quote:it's going to flip BTC next bull. Bookmark this
ETH going POS ruined its chances of flippening
Posted on 11/13/22 at 10:43 am to Hulkklogan
quote:
Node requirements right now are much, much cheaper than they were with mining. Here's to hoping that can help decentralize.
maybe, but until then it is centralized and vulnerable to censorship at the whim 1-3 companies.
even if that does help the situation there is the fact that going POS subjects ETH to the jurisdiction and regulation at the whim of our gov. IMO that fact alone is an enormous flaw/vulnerability regardless of how decentralized the network can become
Posted on 11/13/22 at 10:50 am to AMS
Not sure it makes much difference. If nation states nuke BTC as an asset then the Bitcoin network is still vulnerable.. it's not directly tied to the monetary value but if BTC is no longer profitable to mine then the network dies just as well.
This post was edited on 11/13/22 at 10:51 am
Posted on 11/13/22 at 10:57 am to Hulkklogan
quote:
Not sure it makes much difference. If nation states nuke BTC as an asset then the Bitcoin network is still vulnerable.. it's not directly tied to the monetary value but if BTC is no longer profitable to mine then the network dies just as well.
historically im not sure this tracks although not to say it couldnt in the future. China has been the biggest miners of BTC and nuked it as an asset, yet BTC survived. BTC mining is less profitable now than before, yet has more hashrate mining it than ever.
also there will be folks that will mine it regardless of profit just like many other cryptos.
yes btc could still collapse, but its not nearly as vulnerable as ETH made itself by going POS
Posted on 11/13/22 at 12:03 pm to AMS
@carRamrod we are sitting on a goldmine brother
Posted on 11/13/22 at 12:14 pm to AMS
quote:same risk as BTC.
opened itself to US SEC regulation/jurisdiction.
quote:who do you think are the main people "mining" BTC. And don't get me started on centralization.
over 70% of nodes are centralized servers which means the network may be vulnerable to censorship.
quote:never said it wasn't...but you are at the top of your S curve. Every corp has bought it and the riches man in the world has bought it... You are not early.
BTC is king of crypto and will remain so for the foreseeable future.
This post was edited on 11/13/22 at 12:16 pm
Posted on 11/13/22 at 12:48 pm to CarRamrod
quote:
same risk as BTC.
BTC is a security? thats new.
quote:
who do you think are the main people "mining" BTC. And don't get me started on centralization.
there is no such centralization in BTC like ETH. there is no majority miner of btc unlike ETH where amazon alone has a majority of the network and could censor it on a whim.
quote:
never said it wasn't...but you are at the top of your S curve. Every corp has bought it and the riches man in the world has bought it... You are not early.
eh not really. BTC still has tons of room to grow. also yes i am relatively early, still be up pretty solid even with the downturn. if you think btc is too late for any room to grow lmao at hoping for the flippening
This post was edited on 11/13/22 at 12:57 pm
Posted on 11/13/22 at 2:22 pm to AMS
quote:regulation..... I guess you like to pick and choose the words you want to ignore.
BTC.
BTC is a security? thats new.
quote:BTC 100% has centralized ownership. What it is like 2000 wallets own what 70% of the BTC. Not sure of the exact number but that's that's pretty centralized to me. And you say Amazon could censor it on a whim. The US could outlaw POW mining. Then what.
there is no such centralization in BTC like ETH. there is no majority miner of btc unlike ETH where amazon alone has a majority of the network and could censor it on a whim.
quote:you don't know what am S curve is so you. How much money will it take to double the price of BTC right now?
eh not really. BTC still has tons of room to grow. also yes i am relatively early, still be up pretty solid even with the downturn. if you think btc is too late for any room to grow lmao at hoping for the flippening
You are not early in BTC. Still early in the space, sure.
This post was edited on 11/13/22 at 2:23 pm
Posted on 11/13/22 at 3:05 pm to CarRamrod
quote:
The US could outlaw POW mining. Then what.
It keeps getting mined elsewhere.
Y'alls argument is kind of funky.
One of yall needs to think about the other's position better.
I dont feel like getting into it though.
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