the market cap of btc is over a trillion

whats the goal here with digital national fiat? ban the underlying technology and then say “dont use those cryptos use ours or you die?”. force non-citizens across the globe to abandon using blockchain technology? there are enough major players across the globe investing/invested in btc for a while now, ismart money tends to gravitate away from places where forces exert unilateral control. the use cases for blockchains has and will continue to increase and now store of value is ever-increasing in appeal what with USA printing dollars like its going out of style and china doing its usual funny money policy.

china can do whatever they want. they will manipulate the digital yuan like they do with RMB now anyway. it is up to the rest of the world to use foreign policy/diplomacy/economic pressure to mitigate this. crypto is a passenger along for the ride that has been going on for a long time on this front

Blockchain is here to stay no doubt but that doesn't mean they can't ban bitcoin or other crypto. If you have the digital yuan or digital dollar or whatever which can be created and controlled by central banks/govts allowing something like bitcoin to continue to run along is absolutely a threat. I don't know where BTC is going but it's hard for me to believe that if it goes to 6 figures all of these sovereignties are just going to sheepishly accept it. They probably won't accept it because it serves as an alternative to the currency IMO as it gets extremely large. Would you want to hold your wealth in the digital yuan which can be digitally printed or taken away or BTC, not a hard choice if there's no regulatory threat. Just hard for me to see how a regime like the Chinese commies are going to let go of control so easily. You can't control the people if you can't clamp down on their money and how they move that money.

Also the fact that China has 65% of all BTC mining is concerning. Large-scale miners can have a pretty strong impact on how the crypo currency behaves with various forks and what not.

This post was edited by ofthevoid on Mar 14 2021 11:40am

lmao good one




Im just trying to be conservative.

This post was edited by Golden_Order on Mar 14 2021 07:45pm

Yes I am a wizard



https://www.reuters.com/article/us-crypto-currency-bitcoin/bitcoin-falls-after-weekend-record-high-as-india-considers-a-ban-idUSKBN2B70F0

im not saying India didnt have a part, but after an ATH we always see a correction. 10-15% was not even a nasty one. i was in cash in preparation, took some nice gains on my way out, and rebought in at 53kish, cashed back out in the 56kish for some more gains, and rebought at 54.5k ish, which im holding until we're nearer a new ATH.

i think generally the india fears will be washed away by stim check hype buying in the coming weeks.

Short term I agree but I think the India type threat is a huge risk to btc medium-long term. I think most countries and even the US will probably eventually move to a digital currency type system. If you have the biggest countries outlawing btc it’s absolutely going to crash.

Question: Bitcoin is a currency with a finite number of coins. When the last coin is "mined" how does it work to maintain the block chain?

this is a threat to retail investors, but retain investors even in a space that's retail dominated like BTC long term will be bought up by institutional investors. TESLA dabbling is a signal to me that many will follow, and the investors side of the business are already tipping into the market big time. whales will do more to keep the price fluctuating in an upward direction long term than guppy indians could have, even with billions of them existing. imo.



lots of talk on this, as there's no incentive to stay mining, most likely idea is a fork of sorts or for the BTC blockchain to be folded into another project and have their legacy blockchain managed in the newer technology. im no coder, but BTC as i understand it was always a proof of concept. the block chain itself is fairly simple compared to other projects.

"But even when the last bitcoin has been produced, miners will likely continue to actively and competitively participate and validate new transactions. The reason is that every bitcoin transaction has a transaction fee attached to it.

These fees, while today representing a few hundred dollars per block, could potentially rise to many thousands of dollars per block, especially as the number of transactions on the blockchain grows and as the price of a bitcoin rises. Ultimately, it will function like a closed economy, where transaction fees are assessed much like taxes."

So transaction fees pay miners.

As long as the transaction fee continues to be lucrative for miners then it can continue into eternity, but the second that it stops being worth it (or a natural disaster kills enough miners) the whole thing crashes. Kind of a gamble on the very long term. If the price ever crashes to the point it takes a significant number of miners down with it, whole game's done. Entire network crashes.