FYI I was quoting someone else there lol. But I completely agree. All capitalism and corporatism is made up fake fictional lunacy.
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Apologies to all for dragging this off-topic, perhaps the offending posts and responses can be moved at some point?
Anyhow, the price continues to fall.
Someone seems happy to dump at a loss to suppress the price. They dont need to spend much money to do this - prob <$10k per week but it has certainly killed the price.
@neo I still cant see this as ping-pong trading. Plenty ping but no pong. Nevertheless something stinks.
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Agree.
But think of the rebound. Once it stops dropping, then great time to pick up some cheap Maid.
One thing that happens when someone sells big is that other trades get triggered and they sell once the price drops below their âbailoutâ price and this can have a follow on effect with people deciding to bail out too thinking its a dead token now.
But the person who started it just waits for the price to drop as far as they think it will then buy back twice as many tokens they had at the start this crash
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I love the passion and really hope safe lives up to itâs potential but i think you are being unfair to btc. Adoption is clearly growing.
10x bitcoins market cap is a fantasy at the moment. Lets get to $100 billion before we even talk about getting near bitcoins current market cap. Bitcoin is in a league of itâs own at this current time.
https://www.reddit.com/r/Bitcoin/comments/13uucv6/a_thriving_bitcoin_circular_economy_in_pachacamac/
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Bitcoin adoption is slowly growing perhaps, but I think itâs fair to say itâs not something average people are using regularly when compared with the likes of smartphones, social media, cloud backup systems etc, which are areas a successful Safe Network could be playing in eventually.
The Safe network, if successful, could be used by far more people, far more regularly than Bitcoin, hence it could be of higher value and therefore market cap. I donât see that as fantasy, just a possibility.
Feel free to not consider long term possibilities of what could happen to the value of Safe Network Token, but to be fair, this topic is about token price, and considering long term possibilities is important for those holding or considering buying MAID, as it was for people buying Bitcoin 10 years ago where some would have though $1trn market cap was fantasy.
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Bitcoin has been around for just 14 years and we are seeing:
- a country make it legal tender
- counties / governments mine it.
- other counties with weaker currencies starting to use it on a daily basis: Nigeria, Costa Rica, Guatamala, Argentina, etc.
- power plants starting to mine with excess energy
- Jack Mallas Strike app has just been made available to 3 billion people.
- Nostr, a new social platform using lightening network.
- Lightening network growing and becoming more stable.
- it being classed as a comadity by governments.
- Fidelity, Black Rock, and many other large companies moving into the space for investment, mining and offering services.
- most of the world have heard about it, although many donât understand it. But a pretty big achievement with no advertising team or budget.
- banks starting to adopt it or look into providing services.
Thatâs just to name a few. There is a lot going on with bitcoin and in my opion itâs the only one thatâs really getting real world adoption. Maybe Ethereum too but Iâm yet to see something real world, but it could come. Moving to POS seems like it could have been a bad idea, but letâs see on that one.
I agree itâs great to dream of the potential. But it sounds like you are comparing bitcoin in its current adoption phase (without fully understanding itâs adoption) Vs Safes ultimate potential. I think a fairer comparison is bitcoins full potential Vs Safes full potential.
SAFE has a lot of potential. Cloud storage is massive. A decentralised server infrastructure is massive. But bitcoins full potential is decentralised money, digital gold, a monetary policy for the world and a payments network. All the money in the world is far greater in value than anything we can dream of any other project. If SAFE reaches its full potential, it is likely bitcoin will have too, and probably well before SAFE has. If SAFE is successful it is likely Safe network tokens will be priced in Bitcoin, which is the hardest money with have ever known.
Iâm happy to dream big for SAFE, but like to put it into real perspective, especially when comparing to Bitcoin.
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Letâs just say Iâm a lot less optimistic about Bitcoinâs future than you are, though I agree itâs done well. I think Bitcoin has been a groundbreaking pioneer and a great shoulder for others to stand upon in the future⌠but I donât believe itâll maintain sufficient innovation to keep up with more nimble alternatives that could gain rapid mainstream adoption with better UX, utility, and scalability.
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The lightning network drastically increased the usability and real world applications of Bitcoin, but I think the energy and resources required to mine is its ultimate deterrence to full adoption.
Safe will have an upper hand on that because your everyday person will be able to participate in the network itself and gain Safe tokens. I also think the DBC path is infinitely more useful for monetary purposes than the blockchain/ledger Bitcoin has. It is much closer to cash than something like Bitcoin.
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The energy consumption isnât a bug, itâs a feature. And a very important one. You canât create money out of nothing. If you do, you will end with the same centralised problems we have now in the economy.
I donât see anyone not using it because it uses as much energy as washing machines, or the gaming industry. And as an added bonus it can capture unused energy in hard to reach regions and help balance the grid allowing more use of renewable sources.
The energy argument is not a good argument and is pushed by those that are threatened by it or donât understand it.
Hash power is going up not down, and itâs going up very fast at the moment.
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It seems so. Bitcoin doesnât have one UX. Itâs a protocol. Many developers are building on it. Thatâs like saying TCP/IP has terrible UX.
Other layers are clearly providing scalability (El Salvador and lightening for example).
Money, store of value, impossible to be printed, instant payment network with no permission needed isnât much utility?
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I realize POW is a âfeatureâ, but I disagree that itâs some kind of inherent good. It still wastes a lot of energy, and very little of the worldâs energy is renewable at this point in time.
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It shouldnât just be a shoulder to stand on, it should be a protocol and security network that is leveraged. Itâs a beast and is pretty much impossible to replicate.
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Whatâs wrong with using energy?
Saying itâs a waste is saying it has no value or utility. Those in countries with bad currencies that are using bitcoin would obviously disagree.
This study shows that bitcoin uses 58.9% renewable energy:
I understands SAFEs model will be using less energy, but the reason for this model isnât to use less energy, itâs to be able to handle more data. That is my understanding. The proof will be in the pudding in how secure and how decentralised it can be.
No one has managed this as yet at bitcoins scale. Iâd love to see SAFE achieve it.
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Too many believe their project will replace btc. When really they should be embracing it and looking for both to exist.
I donât think anyone here believes that blockchains do not have a place. I think when it comes to some of the things you mentioned, like currency, even with the lightning network Bitcoin falls woefully short. It may be âusableâ but itâs hardly ideal.
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Using energy isnât bad. Having an electric grid system that is not consistent in itâs power consumption is. Bitcoin solves that a long side tech like batteries.
Thatâs fine. The Safe Network wonât make Bitcoin not exist, though it could possibly superceded it in terms of market cap if more people use it more regularly⌠and if it achieves that, why wouldnât it potentially be better money than BTC?
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Whatâs isnt ideal about it?
What would make it better money?
Meanwhile the price continues to plunge.
Someone is actively selling SAFE for BTC and its not like BTC is mooningâŚ