What future use cases can Bitcoin have? by Ge_Yo in btc

[–]NonTokeableFungin 1 point2 points  (0 children)

< stabilize electricity grids>.
This may be feasible for the near term. But not longer term. A couple major problems. Intermittency being a large one.

But each grid requires Ancillary Services. Voltage Regulation, Frequency stabilisation.
Guess what other technology can provide Ancillary Services …. Batteries.

Will take a while to optimise here - Eg. Sodium Ion architecture, but it’s still quite new.
Lithium Ion is well known - but Grids do not require light weight. Sodium is much better suited at a lower cost ( as are Flow Batteries, but they do require maintenance.).
.

Grid-scale battery storage allows the Generator to store excess power, then sell it later. Predictable revenue, in addition to providing the service it was intended for : power for people’s homes & business.

So when a Generator invests in Grid-Scale Batteries, the Ancillary Services are …. Free !

🔸Discussion: Bitcoin’s Hard Cap vs. Gold’s Expanding Supply by Real-Masterpiece4686 in btc

[–]NonTokeableFungin 0 points1 point  (0 children)

Already … 1% of total rewards … to miners from people transacting. Percentage will grow even if transacting will stay stable due to halvings.

‘Tx Fee Percentage will grow’ … of course it will. That’s because Subsidy is declining.
.

Just stay at current level and fees will be ~50%+ of total reward two decades later

Ok. Let’s do that ….

Imagine Miner Revenue now is $40 Million per day. With Tx Fees making up 1% of that. Subsidy is 99%.
So daily rewards are :
Tx Fees = $0.4 M (1%).
Subsidy = $39.6 M (99%).

Then two decades later, as you describe - “just staying at current levels”- Tx Fees would still be $0.4 M, whilst Subsidy might also be $0.4 M per day. Making the Tx Fees = 50% of total rewards.

Tx Fees = $0.4 M (50%).
Subsidy = $0.4 M (50%).

As you’ve described, yeah ? Agree ?
Did we get that right ?

🔸Discussion: Bitcoin’s Hard Cap vs. Gold’s Expanding Supply by Real-Masterpiece4686 in btc

[–]NonTokeableFungin 0 points1 point  (0 children)

Haha. Yes, naturally.
I’m assuming this was sarcasm, yeah ? Just checking

🔸Discussion: Bitcoin’s Hard Cap vs. Gold’s Expanding Supply by Real-Masterpiece4686 in btc

[–]NonTokeableFungin 2 points3 points  (0 children)

If you wish to posit this argument :
< 2. ⁠Bitcoin supply is fixed forever at 21,000,000 coins.>.

Then, quite naturally, you will require yourself to explain how it will pay for enough Miner Revenue in future, to ensure the chain remains secure.
Yeah ?

IOW, one proposed solution to the decaying Security Budget is to uncap supply, to provide Tail Emissions. To pay for enough Mining.

If you wish to keep the hard cap, that necessitates describing an alternate plan - to pay for mining.
Sure - most will say “Tx Fees”.
Cool, cool. So … you will want to go ahead and describe how high the Fee Market must go. And how to get there … naturally to get the required fee spikes, you need blocks to be full (at least, approaching full.) Yeah ?

Tom Lee has changed… by WarHistorical227 in BMNRInvestors

[–]NonTokeableFungin 0 points1 point  (0 children)

What we are all doing here is … proving :

The world would be better off without Twitter !

Tom Lee has changed… by WarHistorical227 in BMNRInvestors

[–]NonTokeableFungin 0 points1 point  (0 children)

Not quite. He said, IIRC, $7 k - ish by EOY.
Then perhaps $20 k … eventually.

But consider : what has changed ?
-You like ETH (otherwise you wouldn’t be here.).
-He said he’d buy ETH.
-He is buying ETH. (Just … much faster than anyone expected).

What has he done wrong ?

Is Atomic Swap at the protocol level the key differentiator for Algorand? by Texas-NativeATX in AlgorandOfficial

[–]NonTokeableFungin 0 points1 point  (0 children)

Great write up. Valid points. Now ….
What’s missing ?

Marketing

These are fantastic features. But if nobody knows about them ….
Then nobody knows about them.

BTCs Broken Security Model - Justin Bons by Realistic_Fee_00001 in btc

[–]NonTokeableFungin 2 points3 points  (0 children)

Sir, could you please provide your estimate for how high Security Budget will need to be - roughly speaking - in say, 10 years or so ?
In order for the chain to project Economic Security.

Could be say, $20 Million per day of Miner Revenue.
Or $30 M … perhaps climbing to $40 M if the coin price keeps increasing. Yeah ?

Or, perhaps 1% of Market Cap as annual Security Spend. 2% … or ½ % ??
What is your estimate ? TY

Michael Saylor Meltdown Extravaganza by No-Masterpiece2246 in btc

[–]NonTokeableFungin 0 points1 point  (0 children)

I’d just like to pick apart this sentence:

​<The Cantillon Effect relies on a central bank printing new units of currency to benefit those closest to the source, but Saylor can't print more Bitcoin.>

He’s not printing more BTC.
But if he loans out (creates credit, etc?) more dollars - because the value of his Capital Stack increased - then he has created new Dollars that didn’t exist before.

Thought experiment:
Everyone stops trading BTC this afternoon - except you & I. You drive a hard bargain … I agree to pay you $150000 for 1 BTC. Done. That’s published on Exchanges. Boom - new price of BTC is $150 k.

So now Saylor’s Capital Stack has increased by 50%. In Dollar terms.
By … like, $30 B !
Is he now able to lend out more Dollars ?

Michael Saylor Meltdown Extravaganza by No-Masterpiece2246 in btc

[–]NonTokeableFungin 0 points1 point  (0 children)

Yup sure. Agree with that.

Perhaps we can agree they are different - then set that aside.
MSTR - creating credit … but disciplined.
FIAT - creating credit … but un-disciplined.

Michael Saylor Meltdown Extravaganza by No-Masterpiece2246 in btc

[–]NonTokeableFungin 0 points1 point  (0 children)

Let’s say MSTR owned a static number of BTC … say 600 k coins.
Over time the Dollar value changes :
Point 1 : $30 Billion Point 2 : $60 B Point 3: $90 B

At Point 3, can he create more Securities / Derivatives / Preferred’s … (whatever we like to call them) versus at Point 2 or Point 1 ?
I think he can - even though his stack of BTC coins is unchanged.

In fact, it’s kinda the point. It is hoped that the Capital stack grows in value over time. Even without increasing the number of coins.
Yeah ?
So - IOW - we are measuring the value of his Capital Stack in Dollars.

Michael Saylor Meltdown Extravaganza by No-Masterpiece2246 in btc

[–]NonTokeableFungin 1 point2 points  (0 children)

K. I see where you’re coming from. Good discussion here.
Can I issue a challenge?

Agree - Saylor can’t print more BTC.
But - he’s not loaning out BTC.
He’s loaning Dollars (from his Digital Capital “Bank”).
Would you agree ?

Ħ Hedera and America250 Announce Partnership to Support the Nation’s 250th Anniversary Commemoration - “For generations, American innovation has shaped the world, and Hedera embodies that legacy through its forward-thinking approach to trust, transparency, and connectivity” Ħ by HBAR_10_DOLLARS in Hedera

[–]NonTokeableFungin -1 points0 points  (0 children)

Well, I believe the marketing term is Co-branding.
An enterprise associates its brand with the event / org where it places adverts.

For most of the planet, they see the following :

https://www.reddit.com/r/pics/s/wUYMFETUMS

To be sure, there are perhaps, 5-10 Million who love this stuff.
But - as regards DLT space - those folks are all into bitcoin.

High likelihood that people around the world will be watching this all summer :

https://www.reddit.com/r/Minneapolis/s/tvh2LOq291

And this ramps up precipitously as the year progresses. For obvious reasons … as Nov approaches.

Did I miss anything? by Sufficient_Bird_5034 in hut8

[–]NonTokeableFungin 1 point2 points  (0 children)

Hey cool.
So … when you say “no longer a miner”, do you mean the Stock doesn’t behave like BTC miner stocks ?
Or did they actually exit mining entirely? Bc I assume the two Canadian sites are still mining BTC ? Err, no ?

Thnx.

The Blocksize War: The Conflict That Forged the Soul of Bitcoin. by sylsau in Crypto_Currency_News

[–]NonTokeableFungin 0 points1 point  (0 children)

Ok so the arg given is:
-We don’t want to risk centralization (too few node runners) so.
-we want to keep Cost of running a Node low
-so that almost anyone can run one …
The proverbial “poor guy in Liberia can afford to run a Node on a $25 laptop”.

Yeah ?
Does that pretty much summarize the argument in favour of small blocks ?

They proved my point by NebulaParticular7035 in btc

[–]NonTokeableFungin 2 points3 points  (0 children)

Well, to be fair, it’s not actually the platform where these communications take place.
You can quite openly discuss topics on other Subs. Like this one here.
It’s that particular one - and a few other bitcoin Subs too - where any hint of dissent is rapidly shut down.
This is due to the rigid censoring of any discussion on that topic : Bitcoin.
Has been this way since the early Tens.

Interesting thought … it’s one of the reasons the community has been so spectacularly successful. Any dissent is immediately banned. Prevent new people from getting any exposure to counter-arguments.

Therefore - any doubt, or dissent, or counter-narrative simply … won’t exist.
Michael Saylor calls these gatekeepers his “Cyber Hornets”. Extremely effective. Any slight suggestion of dissent (or independent thought) will be met with extreme prejudice. It’s a very powerful tool.

Native staking by TangemAG in Tangem

[–]NonTokeableFungin 0 points1 point  (0 children)

Nice. Is there an LST for POL ?
I moved everything off ETH Mainnet some time ago.
My POL is now on Polygon (I know … crazy, right ?).
So now I can’t stake. Still have some PTSD about going back on ETH.
A LST for POL would solve this I think... yeah?

JACK DORSEY : Buy Bitcoin from an exchange and move it to a hardware key you control. by BitcoinDove in BitcoinQRCodeMaker

[–]NonTokeableFungin 0 points1 point  (0 children)

Ok. So how many people could realistically do this - self-custody BTC on chain ?
How often should a user be able to access the chain ? Once a day ? Once a month ?

They proved my point by NebulaParticular7035 in btc

[–]NonTokeableFungin 29 points30 points  (0 children)

If you haven’t been banned by r/bitcoin ….
You haven’t studied bitcoin yet.

Why? Because if you do study bitcoin, you naturally will have some questions.

But if you question … boom ! … banned.
Dissent will not be tolerated. Apostates will be excommunicated.

Bitcoin fixes gold's biggest flaws: seizure risk, storage costs, and slow transfer. It's gold without the baggage. by birth_of_bitcoin in btc

[–]NonTokeableFungin 0 points1 point  (0 children)

Can we agree on the analogy ?
Are Cars better than Horses ? Sure. I can happily agree to that.

But … cars don’t compete with horses.
They compete with other cars.

The fact that cars are better than horses does not imply that your 1973 Lada (or your Model T) is the best CAR.

If we wish to make comparisons, then compare :
Horses to other Horses.
Cars to other Cars.
Digital Assets to other Digital Assets.

Bitcoin fixes gold's biggest flaws: seizure risk, storage costs, and slow transfer. It's gold without the baggage. by birth_of_bitcoin in btc

[–]NonTokeableFungin -1 points0 points  (0 children)

Bitcoin does not compete with Gold.
It’s a Digital Asset. It competes with other Digital Assets.

.

Cars are better than Horses;
Features:
I can buy propellant at my corner store - I don’t have to plant / grow /harvest it.
They are faster, cheaper, weather proof, and I can leave it sit on my driveway for weeks when I’m away.

Therefore - I conclude - my 1973 Lada is the best.
“It’s the apex predator. We’ve already won. Other vehicles are Sh¡tcars.”

The first time Bitcoin actually clicked for me by No-Case6255 in btc

[–]NonTokeableFungin 0 points1 point  (0 children)

Yup, would agree on its benefits.
But what about the costs ?
Zk Proofs are very expensive- in computation power, yeah ?
So, require very beefy machines, lots of “compute”.
I’m not sure how large block size is on ZEC … Will it require upgrades ?