OT: Bitcoin, Altcoins, NFT's & All Things Crypto
- Thread starter bob-loblaw
- Start date
Ethereum activity increasing, ETH supply deflationary:
coinspress.com
Ethereum Supply is Declining with Rise in Network Activity
Ethereum - the second-largest cryptocurrency by market cap - has been experiencing a significant rise in network activity.
coinspress.com
The proof of stake since the merge has resulted in a net zero to a net reduction of ETH due to the burning of the token with transactions. This only helps increase the token's value.Ethereum activity increasing, ETH supply deflationary:
Ethereum Supply is Declining with Rise in Network Activity
Ethereum - the second-largest cryptocurrency by market cap - has been experiencing a significant rise in network activity.
That's the hope! Nice to see the network finally succeed in addressing their original inflation problem.
But the staking terms are still arbitrary. Not to mention US crackdown on stacking/securities
There's dual sig on the chain that could terminate at any country's beckon call
The fees are still trash
And lastly there's still no REAL use case for web 3.0.
I'm happy to hold the ETH tokens I own, but will not be going out of my way to acquire more. ETH will see a pop at some point before it begins its spiral into the abyss...
I guess I've become a BTC maxi, but there's no other place I have true conviction in anymore in the crypto space.
Sidenote, it's been really fun watching the real maxi's get all worked up about BTC inscriptions/fractals that have been appearing on coins lately. Essentially a bizarro version of a BTC NFT
LOL! Don't know what else to say. Slowly rebuilding my ETH and BTC positions (50-50).
Solana's biggest NFT project just took an entire BTC block and inscribed part of their collection there. Very bizarre indeed but you can't miss an opportunity to hop on a hype train. Fun to watch for sure.
Yeah, it was pretty cool what was done. True Maxis lost their fn mind.
I’m halfway through an interesting book, The Cryptonians. It’s all about the genesis of Ethereum by a bunch of technogeeks, all in their 20’s. Vitalik the creator of the white paper was only 20. Lots of technical stuff but still amazing.
@boblaw, any thoughts on AXL, IMX and PERP? I bought a few dollars worth of these alt-coins on a recommendation by someone who I consider an expert on crypto and has a unreal hit record with alt-coins.
@boblaw, any thoughts on AXL, IMX and PERP? I bought a few dollars worth of these alt-coins on a recommendation by someone who I consider an expert on crypto and has a unreal hit record with alt-coins.
I dont really. Ive pulled myself away from alts, as I see them mostly at rug pulls at this point. If youve made $$ on them I would walk away from the table.
There's still little to no true web 3 use case, and all of these alts that aim to solve a problem in the space are still years away from being relevant. I also do not trust a 99% of alts. Even Helium, which I once touted has been proven to be full of shit, lying about corp partners and having non-existent revenue.
COIN building on Ethereum. Using ETH as the native token for a layer 2 network.
decrypt.co
Coinbase Is Building Its Own Ethereum Layer-2 Network Called 'Base' - Decrypt
Coinbase has revealed that its building its own Ethereum layer-2 network, but it says it has no plans to release a token.
decrypt.co
Two interesting notes on this one...
1. For the first 12 hours or so it was still processing transactions, just at a degraded speed. Terribly degraded for Solana, all the way down to being as slow as Eth.
2. No real price dump associated with this one which is a good sign
Only the zealots are left for SOL! :)
Ethereum is blowing up with activity and layer 2s being built on it. COIN jumping on the network is big. I'm starting to think not many layer 1s will survive. Ethereum and......?????
When it makes it to the Fidelity platform, I will likely buy some if only for karma (since I talk so much trash about it). LOL!
I didn't feel like giving myself the headache of bringing it up, but the discussion in the Stock and Investment thread about having to pay credit card fees at restaurants is eliminated by Solana Pay. Faster transactions than Visa at a fraction of the cost. There would be no service charge for the merchant to have to pass on. Just need to solve that minor little issue of the network going out here and there.
While saving on transaction fees would be amazing I still think the volatility is the coins is too much from a currency perspective.
Solana Pay would use USDC which is a 1:1 backed stable coin.
Headache? Sorry, I can’t resist. Why do some people think credit card companies don’t provide an actual service worthy of charging merchants or customers fees? Those fees pay for fraud protection and dispute resolution, processing returns and errant charges, customer credit checks, etc. So when Solana goes mainstream and the local Chinese restaurant overcharges you and then says go screw who do you call?
I wasn’t the one complaining about the fees, not sure where you’re reading that. I simply said something like this offers a cheaper option which if adopted could bring down credit card fees. Payment processing is instant so there is no 2-3 day wait, overcharging, etc.
Lightning network is already availablein certain pos systems. And its usage continues to go up
Speculation, manipulation.
But, granny is supposed to use it to by bread.
But, granny is supposed to use it to by bread.
Stable coins are backed by an equal amount of dollars in a bank. Tether’s reserves have been called into question in the past though. I’m assuming your warning about keeping an eye on tether is related to the article in the WSJ about some of their shady banking practices.
There are people who have sums of money sitting in tether waiting to be deployed. I am not one of them. I've only used it when it was necessary to use as an on ramp to buy some shitcoin.
BTC spot ETF finally coming?
Judges Consider Grayscale’s Arguments In Bitcoin ETF Hearing Against SEC
Mar-07-2023
DC Circuit judges hammered the SEC’s lawyers as they defended their decision to not approve Grayscale’s move toward a spot bitcoin ETF.
Grayscale Investments LLC participated in oral arguments on Tuesday in the United States Court of Appeals for the DC Circuit in relation to its attempts to get its popular Grayscale Bitcoin Trust (GBTC.NaE) converted to a spot bitcoin exchange-traded fund (ETF). In these oral arguments, the three presiding judges seemingly sided with Grayscale in their positioning.
The U.S. Securities and Exchange Commission (SEC) has repeatedly denied previous attempts at the introduction of a spot ETF. This has led to the firm suing the SEC, alleging that the decisions have been arbitrary and inconsistent with the Commission's decision to approve Bitcoin futures ETFs.
In today’s arguments, presiding judges Chief Judge Sri Srinivasan and Judges Neomi Rao continually prodded the SEC Senior Counsel Emily Parise multiple times about the SEC’s differentiation between a futures ETF and a spot bitcoin ETF.
“[The prices] move together 99.9% of the time. So where's the gap, in the Commission's view?” asked Judge Rao.
The SEC response was that correlation does not equal causation, with its lawyers explaining that the key empirical question is whether fraud and manipulation in the spot markets affect futures in the same way so that they can rely on the surveillance of the future markets. Without that missing empirical piece, the SEC counsel said, the agency can't be sure it can rely on CME future surveillance to approve a spot ETF.
Questioning led to the pontification that the SEC had not provided sufficient evidence to explain their decision making, with Judge Rao telling Parise, “The SEC has not offered any explanation that the petitioners are wrong.”
Judges Consider Grayscale’s Arguments In Bitcoin ETF Hearing Against SEC
Mar-07-2023
DC Circuit judges hammered the SEC’s lawyers as they defended their decision to not approve Grayscale’s move toward a spot bitcoin ETF.
Grayscale Investments LLC participated in oral arguments on Tuesday in the United States Court of Appeals for the DC Circuit in relation to its attempts to get its popular Grayscale Bitcoin Trust (GBTC.NaE) converted to a spot bitcoin exchange-traded fund (ETF). In these oral arguments, the three presiding judges seemingly sided with Grayscale in their positioning.
The U.S. Securities and Exchange Commission (SEC) has repeatedly denied previous attempts at the introduction of a spot ETF. This has led to the firm suing the SEC, alleging that the decisions have been arbitrary and inconsistent with the Commission's decision to approve Bitcoin futures ETFs.
In today’s arguments, presiding judges Chief Judge Sri Srinivasan and Judges Neomi Rao continually prodded the SEC Senior Counsel Emily Parise multiple times about the SEC’s differentiation between a futures ETF and a spot bitcoin ETF.
“[The prices] move together 99.9% of the time. So where's the gap, in the Commission's view?” asked Judge Rao.
The SEC response was that correlation does not equal causation, with its lawyers explaining that the key empirical question is whether fraud and manipulation in the spot markets affect futures in the same way so that they can rely on the surveillance of the future markets. Without that missing empirical piece, the SEC counsel said, the agency can't be sure it can rely on CME future surveillance to approve a spot ETF.
Questioning led to the pontification that the SEC had not provided sufficient evidence to explain their decision making, with Judge Rao telling Parise, “The SEC has not offered any explanation that the petitioners are wrong.”
Down goes Silvergate!
www.cnbc.com
Silvergate shutting down operations and liquidating bank
Silvergate Capital announced on Wednesday that it will wind down operations and liquidate Silvergate Bank.
Musk trying his best to manipulate crypto. Love the fake money bring down real banks. It’s similar to WeWork’s collapse.
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