My Bitcoin Death Spiral Theory (Worst Case Scenario)
On today’s episode of The Cryptoverse…
Earn Crypto Rewards 0:51
EOSBet Not The First 1:30
Envion Shutdown 4:26
Asus Gets Into Mining 8:52
Bitcoin Death Spiral Theory 12:10
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Re the EOSbet story:
+10 for coverage
+15 for engaging the listeners
+2 for the hat
+20 for clarifying previous story so people didn’t have erroneous information
-1 for mentioning Ethereum Classic with a straight face
(Yes, I realize it’s breaking news - I’m just ribbing you a little. )
PS: I’m an ETC HODLer and am saddened and disappointed by the news. I’m looking forward to your coverage.
Re: Miners of last resort
Those are some excellent points. I was fairly confused about why difficulty was going down and hashrate going down and price going down and excitement wasn’t going up. Surely this means more people were going to mine? I definitely am!
As a full-time trader and botter (one who employs algorithmic software to enhance my manual trading), I must say this volatility does wonders for trading.
I'm someone who A) only puts money in I can afford to lose; B) if I do convert FIAT to Crypto, it's crypto from then on, so therefore, 1 BTC = 1 BTC. There is no death spiral if 1 BTC = 1 BTC; C) since I primarily trade BTC pairs, and I want to accumulate BTC, as people move in and out of this and other cryptos, I'll happily gobble up their panic sell orders, as will other crypto-maximalists and D) try to earn my crypto all I can instead of buy it.
I will admit that I honestly expected the FIAT price to be much, much higher by now, and for fees and scaling debate to be the dominating conversation by this time. The lowering of the FIAT price has allowed me to brush up on my own skills, BUIDL, as they say, on my own offerings, and earn crypto faster.
I encourage everyone to try and earn crypto if they can.
Really very interesting video my dear friend and I waiting for your more videos
Posted using Partiko Android
Very good analysis on the Bitcoin "Death Spiral"! Never thought about it that way, it makes a lot of sense though.
Thanks Chris.
Posted using Partiko Android
Great perspective on the difficulty adjustment. And sorry about the Envion! I almost fell for it, too. Just happened to be too lazy to send the ETH in last year, thank goodness.
Posted using Partiko iOS
I think it will eventually get to a point where institutional mining will pull out and it will reach a decentralised equlibrium once we get closer to the 21 million. But for now theres still more than enough incentive to keep mining.
I agree with what you said about speculative mining and investors being flushed out by the bear market lol personally i'm a super holdr and don't see myself selling for any reason BTC would have to hit a crazy valuation for me to want to sell id rather ride it to zero
Interesting show. I am happy that ETH is not Casino affiliated, regarding usage. I am not sure, that I am excited about an EOS Casino. Maybe Blockchain takes some cheating out of gambling, but I fear that there are too many people liking and even enjoying cheating or to con others. A licensed Casino might give some relief for those who really just enjoy gambling without addiction and without risking there livelihood to make others rich. ... ASUS is a bit late with that (or early)... Great perspective on "miners of last resort", great concept. I share your vision. --- Another thought: Some who are envious are willing to kill, in words, in deeds, hunting for the reputation, the joy of live or the life itself of those they envy. There is and was a lot aggression building up about the success of bitcoin and all this wanting to kill or destroy is moving in. After this jelousy has expired itself, life will go on (hopefully without too many wounds).
Must be close to the despair phase if we're talking about "Miners of last resort"
...My dtube balance showed 7 BILLION $ last week!! - Sadly, I think they discovered the error BEFORE I made it to Mexico! LOL
It was a very interesting video!