From 6a54f266248f55b68f4efac8f09a40a7e6c446cd Mon Sep 17 00:00:00 2001 From: Gerald Bauer Date: Wed, 30 Dec 2020 23:17:37 +0100 Subject: [PATCH] Update README.md --- README.md | 74 ++++++++++++++++++++++++++++++++++--------------------- 1 file changed, 46 insertions(+), 28 deletions(-) diff --git a/README.md b/README.md index 652fc62..4aabab5 100644 --- a/README.md +++ b/README.md @@ -97,6 +97,39 @@ try and cash out, that is. Find more in [**`Amy_Castor.yml` »**](Amy_Castor.yml) +### Nouriel_Roubini, Economist + +Investing in Bitcoin is equivalent to take your portfolio +to a rigged illegal casino and gamble; at least in legit Las Vegas casinos odds +aren't stacked against you as those gambling markets aren't manipulated +the way Bitcoin is. Instead Bitcoin is manipulated heavily by Tether and whales. + + § + +2% of accounts control 95% of bitcoin assets. +Inequality Gini coefficient of Bitcoin is worse than the one +of North Korea where Mr Kim and his cronies controls most of the country assets! + + § + +No use ever, past, present and future for XRP and Ripple products... +it is already flopping after spending a fortune and printing a huge amount +of totally useless XRP. (Now the XRP army of Twitter trolls, +bots, hired guns and zealots will attack again...) + + § + +From Bitfinex'ed: +«Stablecoins "backed" by USD are technically already illegal. + Because if they were to gain traction, people would be able to have numbered, + and anonymous, bank accounts. + +You've reinvented numbered bank accounts.» + + +Find more in [**`Nouriel_Roubini.yml` »**](Nouriel_Roubini.yml) + + ### Trolly McTrollface, Bitcoin Greater Fool Court Jester @@ -138,41 +171,26 @@ The only way to pay out old Bitcoin investors is to get money from new investors The only difference with a genuine Ponzi scheme, is who pays the old investors. It's not the "fraudsters", but exchanges. Neat! - -Find more in [**`Trolly_McTrollface.yml` »**](Trolly_McTrollface.yml) - - -### Nouriel_Roubini, Economist - -Investing in Bitcoin is equivalent to take your portfolio -to a rigged illegal casino and gamble; at least in legit Las Vegas casinos odds -aren't stacked against you as those gambling markets aren't manipulated -the way Bitcoin is. Instead Bitcoin is manipulated heavily by Tether and whales. - § -2% of accounts control 95% of bitcoin assets. -Inequality Gini coefficient of Bitcoin is worse than the one -of North Korea where Mr Kim and his cronies controls most of the country assets! +Forget the meme that "Bitcoin transactions are cheap". +The true cost of a transaction isn't the "transaction fees" - those are indeed manageable, +a few dollars per transaction - but the cost of maintaining the network. +As the Bitcoin network currently processes around 300,000 transactions per day at a cost of $28M +(plus transaction fees), the true cost of one transaction is around $100. § -No use ever, past, present and future for XRP and Ripple products... -it is already flopping after spending a fortune and printing a huge amount -of totally useless XRP. (Now the XRP army of Twitter trolls, -bots, hired guns and zealots will attack again...) +For the next three and a half years, block rewards will be worth 6.25 Bitcoins, +or around 200,000 USD at current prices. - § +Remember – there's one block reward every ten minutes, so that's $28M per day. +That's a lot of money, and a huge incentive for miners to buy new ASICs and run them, burning electricity. +[...] +In a perfect market equilibrium, the cost of mining Bitcoin is equal to the rewards. +It's never the exactly the case, but it's a good rule of thumb for evaluating how much it costs to run the network. -From Bitfinex'ed: -«Stablecoins "backed" by USD are technically already illegal. - Because if they were to gain traction, people would be able to have numbered, - and anonymous, bank accounts. - -You've reinvented numbered bank accounts.» - - -Find more in [**`Nouriel_Roubini.yml` »**](Nouriel_Roubini.yml) +Find more in [**`Trolly_McTrollface.yml` »**](Trolly_McTrollface.yml) ### Alex de Vries, Bitcoin Sunstainability Researcher, Founder of Digiconomist