Bro, does your coin actually make any money?
We are in a Crypto goldrush, everyone is trying to find that next big thing. Some are literally mining, hoping Bitcoin will go to the moon.
This got me thinking about the last goldrush and who actually makes money...
Which brings me to a coin most don't talk about, it's seen as a little too boring, it's not decentralised. But most of you probably use it. And everytime you do, they take 0.1%, on all currencies
What am I talking about?
#Binance of course. I hold more Binance, than EOS for this reason.
Binance has just broken through its last peak if you measure it against BTC.
What do you think? Still better to keep digging for that coin that will moon? Or is it better just to take a slice of the market volume as it increases?
Binance is burning coins to reduce its supply from 200m to 100m while reducing its discount for paying in BNB each year.
Quite legit it seems. If you dont want to own bitcoin what do you do - you go buy an exchange or the chip manufacturer. Thats what institutions are doing. Gain exposure to bitcoin indirectly by investing in blockchain companies. Binance coin is a great way to gain exposure to a broker/exchange. You are actually exposed to trading activity going up as opposed to the asset being traded. Good diversification as well.
Aren't the real profitable mining tools the hardware? There's been enough market evidence (eg overinflated prices, rising stocks) to indicate a massive investment in the physical tools behind cryptos.
Considering a lot of newer coins won't require hardware intensive mining, their market is limited.
Binance on the other hand takes a slice of every trade, which is a bigger potential market.
I can't see a decentralised exchange having the same volumes anytime soon and when the technology becomes available to have that level of volume and speed, the Binance CEO has already committed to using it to decentralise
Very fair points, perhaps I got too hung up on the analogy. Regardless it's an interesting prediction and as a Binance user I hope there's some accuracy to it. I'd be surprised if the demand for high-end hardware completely left the crypto scene, but I agree, newer coins will likely never have the hardware demands we've seen with Bitcoin
Many feel we are in a crypto goldrush, no question. Perhaps, to some extent its true. Yet some feel we are in a evolutionary revolution. To that group crypto and its blockchain technology are just as political as ledgers of wealth.
Before every tech revolution comes the big bubble, those who hold on after it are the ones who make the serious money
We've seen this from railroads to dot-com
History loves to repeat itself
At the moment the market is full of promises but not many have actually delivered
Yeah, I totally should have gotten more BNB when it was much cheaper.
Sigh, hindsight is 20/20.
If it dips...
They are still burning BNB tokens and their fees are going up every year
Hence why I'm waiting for Robinhood (the stock brokerage) to work out trading since they are doing no transaction fees. You'd still pay miners' fees, but that's much better than paying extra.
War is one of the most wasteful things humanity ever came up with, but weapon manufacturers make one hell of a profit thanks to war being a thing.
With Bitcoin, I feel like the people who benefited the most were literally the providers for mining equipment. That must have been so very profitable for them for a while.