Got some Bitcoin cash leftover from my last poker deposit. HFSP
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1 tril market cap is a big milestone. Strap in for 100k.
jwax on the phone with me like
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Well, two things, one for each side:
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The premise that bitcoin is unethical because of the energy waste is begging the question. I make at least one bitcoin transaction per week but I buy all my clothes at the thrift store. Anybody talking about waste had better tell me why we keep making more and more pants.
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If we do accept the premise as true, then unfortunately itâs the entire thing. The âminingâ of bitcoin is brute forcing a hash function for each block and the difficulty is set and scalable so each block takes about 10 minutes. This is why as recently as 2017 you could still mine bitcoin at home, though you needed a beastly rig, and now itâs done by supercomputers the size of warehouses. Itâs been an arms race to mine it faster and faster but the difficulty will always scale up (or down if the reverse happens) the more computing power is used.
Honestly, I think it all comes down to even the sharpest people still always underestimating exponential growth.
Not sure it would even make much of a difference at this point.
Thatâs a legendary story and thereâs something the article doesnât spell out: The reason the guy keeps petitioning the local government to dig them up isnât that he canât accept his losses, itâs that the price keeps rising and at some point itâd make financial sense to dig them up. When I first heard about him it was like 2 million GBP, that articleâs 50 million is now 85 million. At some point theyâre gonna say, ok, fuck it, letâs give it a go.
Except the odds of finding it are remarkably small. Itâs no loose for him since he only pays if they find it. Most likely they dig up a dump and find nothing.
Actually, although this is according to him and not confirmed by the council, I think itâs likely,
âThe way the landfill operated in 2013 was when a general waste bin was full, it was given a serial number, it was dragged off to the open pit and it was buried. It was also given a grid reference number.
âSo if I could access the landfill records I could identify the week that I threw the hard drive away, I could identify the serial number of the bin that it was in, and then I could identify where the grid reference is located.â
but the councilâs argument is that itâd definitely be destroyed by now. I guess it all depends on what type of case the HDD was in.
Also,
Howells said he had financial backing from a hedge fund to pay for the search so the council would not be out of pocket.
Itâs neither here nor there really, the actual interesting part imo is thinking about what the reaction would be if it was 200mm GBP of diamonds buried.
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Wow what a day! BTC 1 Trillion Market Cap! ETH officially breaks 2k! Binance Coin now the 3rd largest cryptocurrency!
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donât get me started
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I was actually hoping youâd cool this shit off. Parabolic moves are not good.
FUNDS ARE SAFU
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Should my mind be blown that they donât have their own server farm or no?
So, this is BNB, the Binance exchange coin, lifetime in USD and as a ratio of bitcoin, with the past few days excluded,
and with the past few days includedâŚ
Wait for itâŚ
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What the fuck happened? I remember it being one of the top holds of value since the crash a couple years ago but wtf led to this? Itâs now #3 market cap.
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You want the real answer or the really real answer?
The real answer is that for a little while now BNB has had a parellel âsmartâ chain added thatâs basically made BNB like Ethereum with the smart contracts and what not, so itâs a combination of the Ethereum fees skyrocketing and the BNB DeFi projects being noticed.
150x in a month, sure, why not.
The really real answer is that there are more and more confirmations this is going to be another bubble and itâs going to be glorious.