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HOT TOPIC Bitcoin / Cryptocurrency Discussion (And Predictions)

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GPM

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How will quantum computing affect crypto?
I just have this to say. The biggest thing you hear about quantum computing my nearly everyone is "but what about Bitcoin". Really? What about Bitcoin!?!?

The world is controlled by computers. Literally everyone's banking information and stock information, freaking nuclear bombs, the doors and security systems for biological research institutes. Individuals identity can be changed and stolen through computers. You think those rank lower than highjacking Bitcoin if there are nefarious purposes afoot?

With quantum computing will come quantum encryption. Let's see how it all plays out
 

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ElleMg

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I just have this to say. The biggest thing you hear about quantum computing my nearly everyone is "but what about Bitcoin". Really? What about Bitcoin!?!?

The world is controlled by computers. Literally everyone's banking information and stock information, freaking nuclear bombs, the doors and security systems for biological research institutes. Individuals identity can be changed and stolen through computers. You think those rank lower than highjacking Bitcoin if there are nefarious purposes afoot?

With quantum computing will come quantum encryption. Let's see how it all plays out
No I don't think that. Hadn't heard those concerns about bitcoin, but I heard cryptos with use cases besides stores of wealth will be made obsolete within 10 or 15 years due to quantum computing?
 

AceVentures

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No I don't think that. Hadn't heard those concerns about bitcoin, but I heard cryptos with use cases besides stores of wealth will be made obsolete within 10 or 15 years due to quantum computing?

The best way to strengthen encryption is to keep building and securing it. Participate in encryption projects that have strong decentralized opinions and values that align with yours.

If quantum computing breaks the internet - our last line of defense would be the forefront of encryption, which today is what the crypto economy is building.
 

Ivan sntr

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Governments tolerate crypto because it is exactly what they want to build. A cashless society where they see and control any transaction with their CBDCs, that's their end goal.
BTC just helps with transitioning into cashless and paint a picture of a better way to pay.

Governments tolerate bitcoin and other cryptos for now. Once the CBDCs are fully functional, the governments are slowly gonna declare war to cryptos. And with mining centralization it wouldn't be too hard to win that war either I guess.

I also wouldn't be surprised if BTC was created by governments in the first place. Everybody who is familiar with the problem-reaction-solution model sees that the governments intentional destroy the old financial system and build a new one. Otherwise we would be back to normal ages ago.
 

OleksiyRybakov

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How some other people view governments: "We want to control everything! Let's forbid transactions by cash!"

How I view governments: "So you want to pay cash-free? No, our parliament will not pass a law to force your local store or restaurant to provide this service. Otherwise it will be more expensive to the store (and corruption plus money laundering would also become more difficult for us). Just go to the bank, withdraw your 5 dollars (while paying 10 dollars to do so) and carry a lot of coins that destroy your wallet! And support your local wallet business that also only accepts cash!"
 

robjohn

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If you prefer, you certainly can use the Solana engine and learn about building decentralized apps using their software system.

A quick note on why Solana is booming: parallel computing. The Solana engine can determine if tx A affects or does not affect tx B, and if it doesn't then it can run tx A and B simultaneously, yielding incredibly fast speeds.

on ETH, you still have a single thread running computation - one tick at a time, and every tx gets queued behind this ticker. Speed is coming to ETH via zk technology (zero knowledge cryptography) in the very near future. This would turn ETH, the underlying settlement layer, into a chain that can be fed from multiple parallel computers.

Thank you for your extremely helpful reply as usual!

I will definitely take your advice, and start with ETH first. By the way, my experience in the past has been with Java originally and then C#. Not sure how similar Solidity would be to these languages, but I'll figure it out.


This was just as quick little ramble to talk about the nuances of blockchain throughput to help you understand things are not black and white - Solana fast and ETH slow - but there are real technical differences and merits in how these computers run.

I enjoy the technical details. I did not know that SOL's speed was due to parallel processing. Very interesting. In my initial research on blockchains, I made notes about the future of ETH 2.0, and Rollups were definitely talked about. I saw one interview where Vitalik himself said that rollups were very powerful and would be part of 2.0. They could provide up to 1000x speed, which could be up to 100k TPS. But for now they are aiming for 100x factor scalability, which would be 1k to 4k TPS. He also said that ETH is focusing on launching Rollups before Sharding, due to this increase in TPS. Sharding would follow soon after, which would also give an additional boost.

With that said - do not get in the same trap that folks interested in web2.0 made : "Should I learn JavaScript or PHP?"

I prefer ETH and Solidity because network effects matter - namely there are awesome developer tools, community-made scaffolds for rigging together dApps, educational content, and massive teams working together using this technology. Some of the smartest people I know in this space are working on ZK technology because it is one of the most important applications of cryptography. Look up Starkware and their Starknet system if you want to get a glimpse of what the multi-chain future secured by ZK-EVMs look like.

Will do!

But you can also learn Solana - and there is nothing wrong with that. Ultimately, if you stay in this space long enough, you'll have specific needs for the Solana engine, or you might have more general-purpose needs you can fill with EVM stacks. Don't get lost in the words - Solana dev or ETH dev - adopt the identity of a curious person that has no bounds to what he can or will learn.

My advice: start with ETH - go through the ETH website and dig through the SDK. Then hop on GitHub and break down one of your favorite projects. Go through the different repos, the readmes, and the different scripts. You will learn so fast. Once you get comfortable doing this process, you can start doing it with Solana as well, and determine for yourself where the merits are and which stack serves what purpose best.

That sounds like a great step by step plan. I appreciate all the help.
 

Ocean Man

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Haven't actually transferred/sent money out of institutions in a minute... It took 5 days for my money to transfer out of an investment brokerage. wtf? I completely forgot it was normal for transfer to take this long since I'm used to receiving things in seconds-minutes through crypto.

Additionally, I closed my savings account at Chase just the other day because it charged me $10/month if it was under a daily balance. Screw that!!!

I'm now working towards keeping the majority of my money in crypto and have a small fund for my daily expenses. I have no uses for banks these days. I don't use a debit card and if it's paying something off at the end of the month, then I can just withdrawal the respective amount out of my crypto to pay off the bill.
 

Ivan sntr

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Haven't actually transferred/sent money out of institutions in a minute... It took 5 days for my money to transfer out of an investment brokerage. wtf? I completely forgot it was normal for transfer to take this long since I'm used to receiving things in seconds-minutes through crypto.

Additionally, I closed my savings account at Chase just the other day because it charged me $10/month if it was under a daily balance. Screw that!!!

I'm now working towards keeping the majority of my money in crypto and have a small fund for my daily expenses. I have no uses for banks these days. I don't use a debit card and if it's paying something off at the end of the month, then I can just withdrawal the respective amount out of my crypto to pay off the bill.
I just have enough money in my bank account to pay for the daily things, like groceries, activities, shopping, travel.
All the rest is locked up in my businesses and a junk of it is in DEFI. Actually, thinking about it, it's crazy.
I'm earning more interest in DEFI now than I did working full time only 4 years ago..
 

Ocean Man

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I just have enough money in my bank account to pay for the daily things, like groceries, activities, shopping, travel.
All the rest is locked up in my businesses and a junk of it is in DEFI. Actually, thinking about it, it's crazy.
I'm earning more interest in DEFI now than I did working full time only 4 years ago..
Exactly, it just doesn't make sense to keep things in bank accounts. The only reason is paying bills and daily things like groceries, activities, or shopping as you mentioned.

For my CC, I can keep my money in crypto and when I need to pay my bills just as easily take it out and pay the bills.

I can't wait for crypto as payment to increase. I think more and more people will close their bank accounts. It just doesn't make sense to wait 3 - 5 days, pay bank account fees, or high transfer transaction.
 

GPM

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Exactly, it just doesn't make sense to keep things in bank accounts. The only reason is paying bills and daily things like groceries, activities, or shopping as you mentioned.

For my CC, I can keep my money in crypto and when I need to pay my bills just as easily take it out and pay the bills.

I can't wait for crypto as payment to increase. I think more and more people will close their bank accounts. It just doesn't make sense to wait 3 - 5 days, pay bank account fees, or high transfer transaction.
We are not there yet, but the hope is that eventually this will be the case. The banks and this whole modern world of centralized control can get bent.

Look at how far this tech has come in a few short years. It won't be long until it all has some pretty and easy to use face on it that will speed adoption.
 

MitchC

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STX on a good run thanks @Timmy C

LKSO up 3x since @AceVentures first mentioned it but I was too lazy to work out how to buy it until this week so I’ve actually lost money on it.

For anyone who wants to buy it it’s actually super easy, just download MetaMask iPhone app, send some eth to it and you can do the swap to Lukso within MetaMask app
 

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Ocean Man

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STX on a good run thanks @Timmy C

LKSO up 3x since @AceVentures first mentioned it but I was too lazy to work out how to buy it until this week so I’ve actually lost money on it.

For anyone who wants to buy it it’s actually super easy, just download MetaMask iPhone app, send some eth to it and you can do the swap to Lukso within MetaMask app
And if you’d like to go the exchange route, you can purchase it at KuCoin.

That’s probably what made me take so long with purchasing Lukso, the fact that I couldn’t just buy it on Coinbase. But of course you can also swap it.
 

MitchC

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And if you’d like to go the exchange route, you can purchase it at KuCoin.

That’s probably what made me take so long with purchasing Lukso, the fact that I couldn’t just buy it on Coinbase. But of course you can also swap it.
Same for me, a 5 figure mistake/laziness opportunity missed
 

BooBoosHelix

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Iam currently in $RVP. It wants to make a dezenctralized database for facebook and a clearinghouse for banks.
If it only gets 10% of shittles (xrp) hype it will moon.
 

ElleMg

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We are not there yet, but the hope is that eventually this will be the case. The banks and this whole modern world of centralized control can get bent.

Look at how far this tech has come in a few short years. It won't be long until it all has some pretty and easy to use face on it that will speed adoption.

It'll be interesting to see how people react when the next recession starts. So many people's trust in government and 'the system' has grown exponentially over the past 19 months
 

MitchC

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It'll be interesting to see how people react when the next recession starts. So many people's trust in government and 'the system' has grown exponentially over the past 19 months
In Australia people will openly talk about how thier confidence that the govt will do absolutely anything to ensure property prices don’t fall is higher than ever.

Property prices reflect that. Anyone who was waiting for a crash just had it proven to them that one will never be allowed to happen, so they all bought houses and the prices are higher than ever.

Take what you want from that, maybe we are in for an even bigger crash since no one is expecting one now and behaving accordingly. Who knows, it’s insane that the govt or whoever controls interest rates even has the power to make that decision. For me, Im now convinced more than ever that the money printing will never stop.
 

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So for those that like OHM, I should probably mention KLIMA. Since it is a fork of Olympus, you can think of it just like OHM, only instead of the underlying being backed by DAI, it is instead backed by carbon credits. Given the success of the Olympus model, KLIMA stands a real chance at becoming a "black hole" of sorts for carbon. As the protocol sucks up carbon credits from the market, it increases demand for carbon credits, and increasing demand of course causes upward pressure on the price of carbon.

As carbon prices increase, carbon offset projects become more profitable, and corporations (e.g. legacy (ICE) automakers) are forced to actually reduce their carbon impact because it will no longer be viable to simply purchase said carbon credits to offset their emissions.

Meanwhile, KLIMA holders can stake their positions and earn insane APYs. KLIMA is set to launch within the next week or so, and projected APY at launch will be in the 20k% range, compounded and paid out roughly every 8 hours.

Anyway, FYI and all that. #DYOR #NotFinancialAdvice
 

GerTex

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So for those that like OHM, I should probably mention KLIMA. Since it is a fork of Olympus, you can think of it just like OHM, only instead of the underlying being backed by DAI, it is instead backed by carbon credits. Given the success of the Olympus model, KLIMA stands a real chance at becoming a "black hole" of sorts for carbon. As the protocol sucks up carbon credits from the market, it increases demand for carbon credits, and increasing demand of course causes upward pressure on the price of carbon.

As carbon prices increase, carbon offset projects become more profitable, and corporations (e.g. legacy (ICE) automakers) are forced to actually reduce their carbon impact because it will no longer be viable to simply purchase said carbon credits to offset their emissions.

Meanwhile, KLIMA holders can stake their positions and earn insane APYs. KLIMA is set to launch within the next week or so, and projected APY at launch will be in the 20k% range, compounded and paid out roughly every 8 hours.

Anyway, FYI and all that. #DYOR #NotFinancialAdvice
What chain is KLIMA on?
 

PizzaOnTheRoof

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Any other bitcoin maximalists in here? :happy:

I think BTC is the ONLY store of value/currency that will be used. ETH/ADA/XMR are backing some great technology, but ultimately it'll just be co-opted by BTC devs and built on top of the largest and most secure network to ever exist (Bitcoin).

We're already seeing it with the Lightning Network and Taproot.

All other currencies will fail due to government regulation and simple Pareto distribution.

There is no figurehead of Bitcoin. There is no CEO of Bitcoin to call into Congress.
 

GerTex

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20k APY? Isn't that kind of peasant stuff? (kidding of course). Did you see $TIME? Ohm Fork on Avax which is really picking up momentum now and a solid 50k APY.

Check out KOGEFARM.IO it's an auto compounder that harvests for you automatically every 20 minutes. It's primarily on the Polygon chain and they just added Moonriver, FANTOM and AVAX as well. They only charge 1% on your earned profits and have no deposit/withdrawal fees. If you ever dealt with Beefy, Eleven.finance etc. you'll love the little Koala.

Fair disclosure: I just started helping them a little bit on the marketing side. If interested I can expound a little bit on how they bring value, tokenomics etc, because I love the little project.
 

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GerTex

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So for those that like OHM, I should probably mention KLIMA. Since it is a fork of Olympus, you can think of it just like OHM, only instead of the underlying being backed by DAI, it is instead backed by carbon credits. Given the success of the Olympus model, KLIMA stands a real chance at becoming a "black hole" of sorts for carbon. As the protocol sucks up carbon credits from the market, it increases demand for carbon credits, and increasing demand of course causes upward pressure on the price of carbon.

As carbon prices increase, carbon offset projects become more profitable, and corporations (e.g. legacy (ICE) automakers) are forced to actually reduce their carbon impact because it will no longer be viable to simply purchase said carbon credits to offset their emissions.

Meanwhile, KLIMA holders can stake their positions and earn insane APYs. KLIMA is set to launch within the next week or so, and projected APY at launch will be in the 20k% range, compounded and paid out roughly every 8 hours.

Anyway, FYI and all that. #DYOR #NotFinancialAdvice
They had a bit of a challenging launch but KLIMA really took off!
Starting to get quite a bit of buzz on the net now of people trying to buy in.
 

nitrousflame

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They had a bit of a challenging launch but KLIMA really took off!
Starting to get quite a bit of buzz on the net now of people trying to buy in.
Absolutely crazy times. I didn't even get in on the IDO and I've still managed to over 10x already. 5.5M carbon tons moved on chain In a single day! KLIMA will supposedly also be a topic of discussion in the coming COP26 summit. I think it's safe to say this protocol is going places.
 

Antifragile

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Ing

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Green use for bitcoin heat - wow. That's creative.

Since y son began to have his mining farm in our house, I didn’t need no house heating this autumn till now.
So some days ago I presented this way of heating in a house forum. I gave a short mining introduction without nearer technical description.
Wow. You don’t believe, how many hater came up. After 60 minutes my thread was deleted.
 

GPM

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I just did a YouTube video on how I heat my home with mining computers.

I was talking with a money guy yesterday and he suggested I talk with some pot companies or greenhouse companies about some kind of JV to heat their operations in the winter and autumn
 

Ocean Man

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I just did a YouTube video on how I heat my home with mining computers.


I was talking with a money guy yesterday and he suggested I talk with some pot companies or greenhouse companies about some kind of JV to heat their operations in the winter and autumn
Crazy, haha.

Thanks for sharing! :)
 

Ocean Man

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At the earliest, next week, Facebook is looking to rebrand and change its name to something that relates more to the metaverse. I think one of the reasons is because of the amount of bad rep the company has with its name but secondly and more likely, they want to focus more on the metaverse and Mark wants to be known for building the metaverse.

I wouldn't want to do anything with Facebook. But I'm glad to see the metaverse getting more attention. It's here and only continuing to grow.
 

AceVentures

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Looks like someone fat fingered a 575 BTC market sell and wrecked Binance US' thin books down to a low of $8200!

If anybody had placed stink bids all the way down to 8200 they would have had them filled. Imagine the wishful that had placed buy orders at $20k on Binance US? Probably feel genius

1634829341954.png
 

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