Stop trying to improve bitcoin,

[Anonymous No.12749884]

it’s perfect exactly the way it was designed. But Satoshi designed bitcoin, not miner economics. Now if bitcoin were a currency it would be just fine and id be done writing, but it’s not. The fact that it has turned into an asset and a commodity has really thrown a big curveball in the future of the network security. For all you people who don’t yet understand the magnitude of 0xbtc here is the spark notes version. I know this is far in the future but it’s going to be an issue.

[Anonymous No.12749886]

>>12749884

First there’s bitcoin:
1. Bitcoin relies on miners to secure the network
2. If bitcoin were a currency the sheer number of transactions would sustain strong and profitable mining through fees.
3. BUT....
4. Bitcoin is an asset, and assets have very low money velocity because people hold expecting some kind of return in the future.
5. THUS....
6. The number of transactions would unlikely sustain a strong enough mining economy to properly secure the network.
7. Unless the fees are high enough to incentivize enough miners to mine for transactions fees. And hopefully it’s enough to thwart off a 51% attack.

[Anonymous No.12749890]

>>12749884
>>12749886

Now on to 0xBTC:
1. Let me guess, the first thing your going to say is “what’s the purpose of 0xBTC miners? They don’t even secure a network”
2. Well my friend that is exactly the point.
3. All you have to understand is that if miners are expected to secure a network then there better be a damn lot of transactions with high fees if you expect enough miners to stick around once the block reward starts to thin out. BUT
4. Bitcoin was designed to be a currency And if it acted like a currency then we wouldn’t be having this talk. But it’s not a currency, it’s an asset/commodity and so is every other mined coin ever invented. whereas 0xBTC is the first cryptocurrency that is truly designed to be an asset and a store of value. WHICH
5. Can only be achieved when it is imbedded into a proof of stake network(ethereum eventually)
6. 0xBTC an survive with out miners, thus the need for insanely high money velocity is not needed either.
7. So once all the 0xBTC are mined it can now reside as a fairly distributed asset within the ethereum ecosystem. Just like gold in the real world.
8. And since miners don’t need to confirm transactions the 0xBTC fees will stay low forever.

[Anonymous No.12749894]

>>12749884
>>12749886
>>12749890

So here’s the takeaway.
The need for miners to secure a network will be the downfall of any mined cryptocurrency whose purpose is to be a currency. 0xBTC is the first cryptocommodity whose sole purpose is to be a store of value and an appreciating asset and not a currency. Don’t expect miners to survive on transaction fees if bitcoin stays an asset. And if most miners stop mining it’s just a matter of time before a 51% attack happens.
Don’t even get me started on WBTC. Say that does work and everyone converts their bitcoin to WBTC and bitcoin now lies within the Ethereum ecosystem...what do you think happens when miners leave the bitcoin network due to low transaction fee income since everything happens on ethereum now?
See the thing with WBTC is that even if it wildly succeeds then bitcoin fails which means WBTC fails.

[Anonymous No.12749978]

When the faggot shill is so bored he replies to his own thread 3 times before anybody else stumbles along to call him a dumb nigger.

[Anonymous No.12750008]

>>12749978
Recent price action is looking juicy though

[Anonymous No.12750015]

When the faggot shill is so bored he resets his router and resumes shitposting in his thread.
You are a humanoid yeast infection. Please kill yourself.

[Anonymous No.12750037]

>>12750015
I missed the 0xbtc spam desu

[Anonymous No.12750088]

Remember... digital gold on Ethereum

[Anonymous No.12750134]

>>12749884
If this shitcoin is so fucking great why is it at a 600k marketcap?