Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Probably because ETH is moving from a POW (proof of work) to a PoS (proof of stake) consensus algorithm with a minimum of 32 ETH required to stake, and a lot of people are buying it at these low prices so that they can start staking soon
This has been said for forever, still nothing. I doubt anything will change.
LOL.
POW is where workers rule.
POS is where rent seekers rule.
You can never create sustainable economy where rent seekers rule!
Ethereum was created as a coin of the people that don't understand monetary theory by the people that don't understand monetary theory for the people that don't understand monetary theory!
I agree, however, I worry that current rent seekers (which are dominant in the current economy) will simply transplant themselves onto POS, thereby strengthening it.
On an individual level maybe you hedge some of your value into that situation, but if you recognize the true value as POW, and you largely invest in POW, then likely you are going to experience value appreciation in your POW investment. The snake oil salesmen are not likely going to make it easy for you to distinguish the real value from the snake oil, right?
hey, do you mine btc or did you ever mine or run a node?
if yes, then kudos, and if not, then you are riding someone else's train here, I am sorry to say.
Get the fuck out of here with that statement of mining elitism.
In order to support btc network (POW) by mining you have to have roughly one S9 (13.5 TH/s) per each 5 BTC that you might have (at this very moment).
There is no "have to," but instead there could be levels of increased security and increased involvement and ways of BTC ownership (or BTC network ownership).
Anything else, and you are contributing less than your claim on the network, therefore some third party have more power (you relinquished that power to them). Contribution via node is less clear, but could be calculated as a derivative of the total node number.
Yes, there are various ways in which people can be involved various ways in which they can contribute (or distract) from the bitcoin space and the bitcoin concept.
If you simply buy and hodl, sorry, you have a claim on something you don't really control in any way.
O.k. Fair enough that owning and controlling are different things, yet your seeming attempt to create a heirarchy of bitcoin citizenship, perhaps under your own parameters, seems a bit weird, lame and out of touch with the modern world in which systems (including bitcoin) have consensus, compromise and choice rather than requiring every person to have a required set of skills and contributions. If true, that would be ridiculous.
