The Crypto Sky is Falling Down.
Musk.
If you believe the spew from Elon Musk, you are one of two things. A die hard Elon fan or a greenhouse groupie jumping on the climate band wagon.
Well, I don't think many out there would call Elon a dumb person. Many, (my presumption) would say Elon has a good head on his shoulders. He would be knowledgeable about energy its cost and storage. Much of that knowledge would be just about common place to his mind. Considering, he began Tesla. Unless he is a dumb fk, he knew the cost of energy before he endorsed Bitcoin. That endorsement itself, generated interest into Bitcoin from many who were not already invested to crypto. You can be dayum sure, he also knew the cost of mining.
I am also sure, Tesla company cannot afford to lose 1.5 Billion in investment. The question is now. How much did Tesla make? Did it profit from the rise in value of BTC? How much BTC did Tesla sell before it decided to announce it was not going to accept BTC.
For the mining cost of BTC. well that ends in with 27 million coin in 2040. When no more coins can be mined. Then it is just transaction and exchanges. Which depending on which one chosen has various costs.
So the jargon about energy costs as a reason not to accept is bollox. IN another seven years the cost of BTC will be the same as any others to use.
On the other hand, if Elon did not know the cost of mining Bitcoin. Then he makes investment without doing research into what he invests to. Maybe the abundance of finance surrounding him and exceeded his ego.
Or maybe he just changes his mind on a whim.
At the very least he should honour his original statement and announce he will accept BTC after the mining has ended.
How much did his stupidity cost others? Him knowing the influence such an investment would have.
Banks.
Banks now making their move with crypto (at the same time) trying to gain a greater control over how people think about the crypto out there. A change to the mindset that it can be a viable option.
It does begin to look like everything we seem to do plays into the hands of already organised finance control. After all, who do you think is going to create the rules of how crypto can be used. Those already in control over how the financial system works.
This is the same for any crypto out there right now. Decentralised or not, the banks are gaining control over how it can be used and what for.
I do not think this was too hard to foresee. As soon as the ambition changed from. This can be an alternative to national currency's already in use. To, I am gonna be a millionaire from this investment. Banks were gaining control. The ambition to provide an alternative to the present systems of finance is non existent.
Campaigning for those in power to make the changes only brings about changes that suit them better, not you.
A need to build as a we, not us, a group or individual. As a we, one unit. As much as we can get to one unit made of many working for the same goal anyway. Building something we all have an investment to, but none of us own, holds much greater value than possession.
A government, individual or group doing this hands over possession and control.
Every aspect of our life, draws back to the need for finance. The high cost of living. The need to get money for just the basics of life. This goes against nature itself. It also means a greater reliance on institutionalised finance. A tighter control over everything you do. If current events are anything to go by, even the things you say can be governed by who has more finance. In this system, the banks always win, they can print more money then the populations hold.
Hive.
Is there anything Hive can learn from this.
The first thing that jumps into my mind is. We do not want a big multimillion investment off the bat from any single source. The simple withdrawal from the blockchain could potentially kill off future prospects.
We need to create that kind of investment from within the chain. That is what will strengthen the chain and re-enforce its defences against changes in the world. Or even actual attack from various sources and means. Not all attacks will be verbal, financial or digital.
If I look at Hive and relate it to a Bee-Hive. The animal thing not the hair-do. They might look similar, totally different though.
Yup, ye wouldn't want to be rubbing your fingers through your GF's hair and get stung by a swarm of bees.
Seriously though. It does take like a bee hive many parts doing different things for the whole to survive. The chain is pretty much the same. We need witness, blogger, front end, games, coder and so much more I won't think of. It is the integration of all of them that provides a road to a successful future for the chain.
I do not see that happening on the chain though. I see the honey comes with many residents and some are building cities. Others can only build a small cottage. Some in tents or just wandering. Others with their own islands and maybe one or two with their own continent or planet in a solar system.
There are many individual things being built on the chain. They all take the chain in different directions. This is great. It does leave a big gap in the center that needs to be filled. We should turn that central spot in to a recycling bay. There are many terms that can be used. This central spot is not a control spot. Nothing more than in simple terms a recycling bay or end user effect. It just repeatedly recycles HIVE/HBD. It ensures the ability for people to use it and gain the benefits required.
Hive blockchain can create a guarantee of value.
A Future
Change the peg. Why not?
Why not bring about the environment that will have other currency peg themselves to HBD or HIVE. For current FIAT currency HBD wold be best for other digital assets, HIVE would be best. There is no reason why other currency's or token would not jump on board with this. If we develop core support for use of our tokens.
I see this most common when talking with others. Especially on conversations involving time difference. In discussions about a future people always use the structure that is in place right now to describe it. Suggested changes to the systems are not taken into account. A resort back to won't happen because of this circumstance now. If something changed, maybe that same circumstance would not be there. This so many seem to fail to see.
I can see a future were that it is possible when other tokens or currency peg to the Hive tokens. I see a good road map of how to get there. I would like serious discussion on this. So far, discussion goes no further than to try debunk. Which at every point has had a solution available. But still rebounds to the default, they won't let it happen, because of circumstance. All change forgotten.
Or maybe it is just the easy road. Do nothing, can't blame me I done nothing. Or maybe doing nothing, is why we are in the mess we are in.
Crypto Excahnge:
Ionomy:
https://ionomy.com/en/aff/d0afaf8f56804ce181c5ef5db43d4a21
Bittrex:
https://bittrex.com/Account/Register?referralCode=DHH-RXK-11E
Discord Servers
Bro SGN: https://discord.gg/W2pdeDa
Hive Block chain Server: https://discord.gg/QxbgScK
Posted Using LeoFinance Beta
Why mining of Bitcoin ends in 2027? I thought it will happen in 2140
ops my bad you are right. that should have been 27 million coin in 2040
Congratulations @thehive! You have completed the following achievement on the Hive blockchain and have been rewarded with new badge(s) :
Your next target is to reach 50000 upvotes.
You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word
STOPCheck out the last post from @hivebuzz:
Support the HiveBuzz project. Vote for our proposal!