BTC

Elleucas

Well… BTC is like opium for greed lol

Roberto9410

Uhhhh… I’m not sure BTC has made us any less greedy

kirtash93

Do you want to know why Satoshi Nakamoto doesn't speak? Because he is in a mission light years away on another planet creating BTC for them too so that all "smart" planets evolve and can trade in the future through space. Space commerce.

Dreampopgazer

Of course, BTC breakout gave alts space to push. The setup was solid though, descend downtrend, and solid horizontal support. Hardly any alts had such a clean structure - you'll se most alts lost their horizontal support before Christmas. Once that trend broke it has outperformed almost all other alts. Sushi and Doge also kept their horizontal support and the latter hasn't broken out yet.

FinanceSnake

Ikr. And this is why I decided to go with "peer-reviewed" as my main point of contention. I'm not sure why, but it seems as if there's a lot of overlap between American crypto folk and being anti-vax (though I'm not American myself, nor live in America, so take that with a grain of salt). Even though Bitcoin really has nothing to do with political affiliation, I think it's to do with the fact that Republicans have taken to BTC more than the Dems. Republicans have a higher percentage of their circle that is anti-vax, hence this phenomenon.

ShotCryptographer523

Our usual buyer of BTC hasn't turned up yet this weekend. Better late than never I hope. But either way, nice for the market to cool and see what projects pumped a lot because of hype or fundamentals.

krikreuk

I still remember when doge was used here years ago to teach people about crypto and we had a tip-bot that was actually used a lot. That's how I got into crypto. Heard about doge before BTC, and then the rabbit hole.. Will always have a soft spot for doge even if I don't hold any anymore. Its intentions were pure. SHIB on the other hand is the perfect representation of the metastatic cancer that most recent project crypto are.

coinsntings

A) I am tired of this guy B) even if he wins, hes not getting that BTC

JERMYNC

I mean, I kinda like Cathie Woods opinion on BTC to milly 1,000,000 BTC would greatly please me

zoomercoomer9000

This is big news in terms of adoption. DekaBank manages around $400 billion in assets, so they're a pretty serious institution. Would love to know if the BTC they intend to hold for customers is insured against theft in the same way regular fiat deposits are.

CointestMod

* Relevant Cointest topics: [Bitcoin Cash](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_bitcoin_cash), [Litecoin](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_litecoin), [Lightning Network](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_lightning_network), [Proof of Work](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_proof-of-work) * Official and related subreddits: r/Bitcoin, r/BitcoinMarkets, r/BitcoinMining, r/BTC, r/BitcoinCash. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/10tco6o/selfproclaimed_bitcoin_inventors_25_bln_lawsuit/?sort=controversial). Doesn't work on mobile.

Vendraco00

Sold mine for BTC & ETH. I don’t really see the point anymore, just another Ethereum like ecosystem with no real difference other than “peer reviewed” which pretty much became obsolete when people found out Charles isn’t an academic.

Full-Bluebird385

Everyone finds BTC when the deserve to. Well done to you!

CointestMod

#Bitcoin Con-Arguments Below is an argument written by Far-Scholar9028 which won 3rd place in the Bitcoin Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Understanding the benefits and drawbacks of the bitcoin blockchain is essential if you're considering investing in bitcoin. In the previous thread, we named a few pros of BTC, now let's move on to the cons of BTC. > > **Volatility** > > Bitcoin is a traders dream due to volatility, however that is also one of its biggest issues. Bitcoin will never be used as a currency due to price fluctuations. If a car was first purchased for 2 BTC and returned a week later, for instance, should 2 BTC be returned despite the fact that the valuation has increased, or should the new amount (calculated in accordance with current valuation) be sent? > > **Security** > > Bitcoin Network Security: There might be undiscovered weaknesses in the Bitcoin system. Due to the fact that this system is still relatively new, if Bitcoins were to become extensively used and a fault was discovered, it might greatly increase the wealth of the exploiter at the risk of destroying the Bitcoin economy. > > Wallet Security: Wallets are primed to be lost, hacked and stolen. Bitcoins are virtually lost if a hard drive crashes, a virus corrupts data, the wallet file is corrupted, and the seed phrase is not backed up. Nothing could be done to get it back. These coins will remain abandoned in the system forever. Investors and users could become bankrupt as a result in a matter of seconds with no chance of recovery. > > **Proof-of-Work** > > The PoW is a mechanism for assisting a group of strangers who are also self-interested, equal, and there are no subordinates in the network, according to the Satoshi Nakamoto Institute. PoW requires a lot of energy. It's expensive and demands a lot of processing power. It is susceptible to the infamous 51% assault, which means that if hostile miners control 51% of the network, they might seize dominance and render decentralization useless. > > Edit: Sources: > > https://paxful.com/university/bitcoin-volatility/ > > https://www.mandiant.com/resources/blog/cryptocurrency-blockchain-networks-facing-new-security-paradigms > > https://nakamotoinstitute.org/mempool/the-proof-of-work-concept/#selection-139.6-139.409 ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpuiar/top_coins_bitcoin_conarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10szhfn/daily_general_discussion_february_4_2023_gmt0/).

kirtash93

Probably the Governor of the Central Bank of Sri Lanka is involved in corruption cases or his closest friends/relatives are. It is normal for him to say no to the transparency provided by BTC since his business would end.

CointestMod

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CointestMod

#Binance Coin Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Binance Coin Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > First published on: [24.09.2021](https://www.reddit.com/r/CryptoCurrency/comments/og2b3t/comment/he59nit/?utm_source=share&utm_medium=web2x&context=3) > > Last edited on: 07.10.2021 > > # Intro > > Binance Coin (BNB) was launched in July 2017 and it was initially an ERC-20 token on Ethereum. In April 2019, it moved to its own blockchain called Binance Chain. Today, it operates on two blockchains, the other one being Binance Smart Chain. The coin is issued, developed and maintained by the biggest cryptocurrency exchange – Binance. > > # Cons > > **BNB is centralized** > > The biggest downside of BNB is that it goes against the core principle of cryptocurrency – it’s not decentralized. BNB network is secured by **only 21 nodes/validators** when for example ETH has around 9 000 nodes/validators. > > But that’s not all. In order to become a validator, one must own 10 000 BNB coins. Since April 2021, the price of BNB fluctuates mostly between $300-$400. That means a validator-to-be has to invest more than $3 million. Validators also need cutting-edge hardware and very good internet connection but this shouldn’t pose a problem for someone who has more than $3 million dollars. > > Also worth pointing out is the fact that **more than 80% of BNB is either owned or custodied by Binance** and top 100 wallets hold more than 70% of BNB (compare to around 40% for ETH or 16% for BTC). > > ​ > > **The future of BNB depends on Binance** > > BNB is not only centralized but it also depends heavily on the success of Binance. If Binance was to become less popular, BNB will most probably be also affected. Lately, Binance is having regulatory problems in several countries, most notably in the US, the UK, Japan and Thailand. > > Binance is also under constant threat of being a victim of hackers. In May 2018, it was hacked and 7 000 Bitcoins were stolen. Any Binance security breach is sure to affect the price and future of BNB. > > ​ > > **Regulatory scrutiny and ongoing investigations against Binance** > > Regulators in many countries decided to warn against trading on Binance, banned it from certain activities (e.g. derivatives) or even banned it completely. Some of the banks have blocked their customers from making payments to and from Binance. > > In May 2021, the Justice Department and Internal Revenue Service informed that Binance Holdings is **under investigation for money-laundering and tax evasion**. > > It is also probed by the Commodity Futures Trading Commission (CFTC) over concerns that its employees exploited access to data on millions of transactions (market manipulation and insider trading). > > ​ > > **Binance Smart Chain – blockchain of copycats and scammers?** > > BSC is a copy of Ethereum and as such it’s also full of projects that copy ETH projects. BSC’s Pancakeswap copied ETH's Uniswap, Alpaca Finance copied Yearn Finance, yieldwatch copied Zapper and so on. And then there are copies of those copies. **BSC doesn’t offer too many original and innovative projects.** > > BSC is also very popular among “developers” (read: scammers) whose only intention is to get rich quick. It’s hard to keep up with how many BSC projects got “hacked” (read: rug pulled) and the chain is only one year old. > > This slowly makes more and more people skeptical about BSC. > > ​ > > **Rules can change at any time** > > Binance can change their policy at any time. Take for example the discount users get when paying for transactions with BNB. According to the whitepaper, the discount was to be halved every year but in 2019 Binance decided it wants to keep the discount at 25% and resigned from further halvings. This is of course positive for users but **nothing stops Binance from making less positive changes** in the future. > > (I also found information that Binance has changed the rule regarding quarterly burns in their whitepaper v2 but I couldn’t verify it as whitepaper v2 is nowhere to be found.) > > ​ > > **Ethereum 2.0 and other competitors** > > Successful upgrade of the Ethereum network might make BSC less attractive. When Ethereum has competitive transaction fees, the main advantage of BSC will be gone. If most developers work on Ethereum now, despite ridiculously high fees, **BNB may suffer a serious hit** when those fees are finally lowered. > > And there are more rivals on the horizon. Recently, Cardano successfully launched their smart contracts. Solana is becoming popular. There is also Polkadot, Avalanche, Algorand, Terra… The competition is growing and a centralized project like BNB might not survive in a decentralized world of cryptocurrencies. > > \_\_\_\_\_\_\_\_\_\_\_\_\_\_ > > **^(Sources:)** > > [^(https://www.binance.com/en/support/faq/115000583311)](https://www.binance.com/en/support/faq/115000583311) > > [^(https://www.binance.com/en/bnb#COIN-BURN)](https://www.binance.com/en/bnb#COIN-BURN) > > [^(https://www.binance.com/en/bnb#BNB-RIGHT)](https://www.binance.com/en/bnb#BNB-RIGHT) > > [^(https://www.binance.com/en/support/announcement/2af5831727164545b8a2c665fae8bc04)](https://www.binance.com/en/support/announcement/2af5831727164545b8a2c665fae8bc04) > > [^(https://finance.yahoo.com/news/binance-coin-bnb-why-interesting-110049570.html)](https://finance.yahoo.com/news/binance-coin-bnb-why-interesting-110049570.html) > > [^(https://www.investopedia.com/terms/b/binance-coin-bnb.asp)](https://www.investopedia.com/terms/b/binance-coin-bnb.asp) > > [^(https://trading-education.com/pros-and-cons-of-investing-in-binance-coin)](https://trading-education.com/pros-and-cons-of-investing-in-binance-coin) > > [^(https://guarda.com/academy/blockchain/what-is-binance-smart-chain/?utm\\source=Reddit&utm\_medium=Social&utm\_campaign=CryptoCurrency-BSC-article)](https://guarda.com/academy/blockchain/what-is-binance-smart-chain/?utm\source=Reddit&utm_medium=Social&utm_campaign=CryptoCurrency-BSC-article) > > [^(https://www.finextra.com/blogposting/20815/binance-and-regulatory-scrutiny-changing-times-for-the-crypto-market)](https://www.finextra.com/blogposting/20815/binance-and-regulatory-scrutiny-changing-times-for-the-crypto-market) ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/tuwu8i/top_coins_binance_coin_conarguments_april_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin=) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10szhfn/daily_general_discussion_february_4_2023_gmt0/).

zoomercoomer9000

With inflation above 54%, it might be citizens' best interest to start investing in BTC regardless of whether this central bank governor approves.

TheUnstoppableBTC

An asset can’t monetise from zero to god knows where without being volatile in the process, that’s the nature of price discovery. BTC will stabilise when it has reached the top of its S-curve adoption - probably a long way out. There needs to be widespread agreement across all market participants over bitcoin’s value proposition for its price to be constrained within a narrow band. The price will stabilise when it has devoured the total amount of value from other asset classes that it possibly can. Nobody on earth knows what this is. I believe it is more the latter, butters think its $0. That’s a huge variation in thinking, there is no agreement on bitcoin’s importance, there is no emerging agreement of bitcoin’s price.

domwc14

https://youtu.be/abcKL_x_aoA Here's a smart guy's look on BTC and crypto in general. Lots of smart guys in tech grasp BTC but they just dont see the tradeoffs of decen. and anonimity to be worth it. Yes, i own BTC.

Bucksaway03

Wake me up when BTC is at 1 mill

Baecchus

You gotta dream bigger. Moons will flip BTC by thursday! /s

Fantastic-Offer-9129

My friends wanted to put 5€ each into BTC back when it was 10 cents i think, i refused and said “5€ is like my breakfast dude….” I really really regret it..

TabletopThirteen

Tether has survived every single bear market and continues to thrive. Despite the FUD and everything said against it, it has not collapsed. So it's more reliable than every other stable because of that and rich people trust it because of that. That's why BTC and ETH are so popular is because they are reliable and trustworthy for many years longer than all the other cryptos. It can definitely change in the future with things like Coinbase exchanging to USDC for free, but not any time soon will Tether be out of the picture

Full-Bluebird385

Yeah, but although BTC is a sure thing that will appreciate in value substantially, DOT could bring a lambo soon.

robothistorian

Well, I am not sure Mr. Bloom was commenting on the virtues of BTC. Rather, I suspect, he was excoriating central banks and their enablers.

General-Priority-479

1 BTC will be worth precisely 1 BTC

FldLima

Chatgpt will buy BTC

UhUhWaitForTheCream

What if all along Satoshi was among us. What if BTC was just a pro type. What if moons was actually his real whitepaper

CointestMod

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eggZeppelin

The only people that held BTC from fractions of a penny to 10k+ are folx that forgot about it and then remembered it way later.

kirtash93

Because the world is angry with the old system which is a failure and BTC comes here offering something new, fresh and that solves a lot of problems of the old system.

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BackgroundAd4640

No, it's not worth leaving my money on the app for such small returns. My BTC and LTC 3 month terms both end today and I will be withdrawing to my defi wallet.

CointestMod

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evoxyseah

No, I don't regret because BTC is going below 15k /s.

ieatmoondust

The first bit of BTC I bought was at 50k, so...nah. That wasn't even close to my worst drop.

globaldemands

OP probably has Dalmatian as a kid. He had the right decision to convert to BTC.

SRone22

nobody gives a shit about an old woke man. Stick BTC in the main media, make it pretty, keep corp greed away...profit. But I seriously doubt corp greed and govt wont find a way to fuck it up as usual. But maybe well get a couple of years of prosperity out of it before they fuck it up. Listen, BTC aint the messiah. Its a means to an end. Dont marry it but aint no problem having fun with it and riding wave.

wildmanfree

"You DONT own any of the coins you paid for on a centralized exchange. It’s practically nothing more than an IOU" I'm pretty sure I own the BTC and cryptos I bought from a CEX, unless you're telling me the CEX controls my multiple hardware wallets.

ultron290196

Debt is money in our fiat world. Why else do you think we keep raising the debt ceiling every year? This will all come crashing down some day. That's why BTC could become a hedge. I say could because despite all my optimism, I have to be wary of black swans.

SteelSoapy

That's the key. What will make crypto ubiquitous? I think its inevitable that crypto will be ubiquitous and that only one thing will really slow it down, but I don't want to say it. Unfortunately for non-BTC maxi's...Bitcoin ultimately wins. Fundamentals are fundamentals for a reason.

CointestMod

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Da_Notorious_HAM

*Yelling at BTC*

LanWangji

Mine was with local currency lol. In August 2022, myanmar kyat crashed from 1 USD=2100 MMK to 1 USD=4100 MMK. In one month. I thought we’re going to be the next Venezuela. Mass fear country wide. Lots of ppl rushing to gold shops and foreign currency exchangers. I had 1.2k USDT bought at 1 USDT=2000 MMK rate. I sold all at 1 USDT=3400 MMK rate. At that time, I really didn’t want to but I needed the money. I felt depressed for days. “I’ll have to rebuy again at a higher rate. Not to mention goods irl now price 2.5x” I thought. A week later the exchange rate slowly came back to 1 USD=2650 MMK. I couldn’t believe my luck. Of course ppl who bought USD and gold(price is calculated with USD exchange rate) at 4100 MMK rate got rekt. Current exchange rate is 1 USD= 2850 MMK, a far cry from 4100 MMK. That’s my first time seeing ppl FOMO in real life. With a “real currency” nonetheless. That event freaked me out and I’ve since turned all the money in my bank accounts to stablecoins. From there, I turned them into BTC at my own pace. My portfolio is currently green.

jt7855

Fair assessment of the banking system. Buy BTC

CointestMod

#Binance Coin Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Binance Coin Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > First published on: [24.09.2021](https://www.reddit.com/r/CryptoCurrency/comments/og2b3t/comment/he59nit/?utm_source=share&utm_medium=web2x&context=3) > > Last edited on: 07.10.2021 > > # Intro > > Binance Coin (BNB) was launched in July 2017 and it was initially an ERC-20 token on Ethereum. In April 2019, it moved to its own blockchain called Binance Chain. Today, it operates on two blockchains, the other one being Binance Smart Chain. The coin is issued, developed and maintained by the biggest cryptocurrency exchange – Binance. > > # Cons > > **BNB is centralized** > > The biggest downside of BNB is that it goes against the core principle of cryptocurrency – it’s not decentralized. BNB network is secured by **only 21 nodes/validators** when for example ETH has around 9 000 nodes/validators. > > But that’s not all. In order to become a validator, one must own 10 000 BNB coins. Since April 2021, the price of BNB fluctuates mostly between $300-$400. That means a validator-to-be has to invest more than $3 million. Validators also need cutting-edge hardware and very good internet connection but this shouldn’t pose a problem for someone who has more than $3 million dollars. > > Also worth pointing out is the fact that **more than 80% of BNB is either owned or custodied by Binance** and top 100 wallets hold more than 70% of BNB (compare to around 40% for ETH or 16% for BTC). > > ​ > > **The future of BNB depends on Binance** > > BNB is not only centralized but it also depends heavily on the success of Binance. If Binance was to become less popular, BNB will most probably be also affected. Lately, Binance is having regulatory problems in several countries, most notably in the US, the UK, Japan and Thailand. > > Binance is also under constant threat of being a victim of hackers. In May 2018, it was hacked and 7 000 Bitcoins were stolen. Any Binance security breach is sure to affect the price and future of BNB. > > ​ > > **Regulatory scrutiny and ongoing investigations against Binance** > > Regulators in many countries decided to warn against trading on Binance, banned it from certain activities (e.g. derivatives) or even banned it completely. Some of the banks have blocked their customers from making payments to and from Binance. > > In May 2021, the Justice Department and Internal Revenue Service informed that Binance Holdings is **under investigation for money-laundering and tax evasion**. > > It is also probed by the Commodity Futures Trading Commission (CFTC) over concerns that its employees exploited access to data on millions of transactions (market manipulation and insider trading). > > ​ > > **Binance Smart Chain – blockchain of copycats and scammers?** > > BSC is a copy of Ethereum and as such it’s also full of projects that copy ETH projects. BSC’s Pancakeswap copied ETH's Uniswap, Alpaca Finance copied Yearn Finance, yieldwatch copied Zapper and so on. And then there are copies of those copies. **BSC doesn’t offer too many original and innovative projects.** > > BSC is also very popular among “developers” (read: scammers) whose only intention is to get rich quick. It’s hard to keep up with how many BSC projects got “hacked” (read: rug pulled) and the chain is only one year old. > > This slowly makes more and more people skeptical about BSC. > > ​ > > **Rules can change at any time** > > Binance can change their policy at any time. Take for example the discount users get when paying for transactions with BNB. According to the whitepaper, the discount was to be halved every year but in 2019 Binance decided it wants to keep the discount at 25% and resigned from further halvings. This is of course positive for users but **nothing stops Binance from making less positive changes** in the future. > > (I also found information that Binance has changed the rule regarding quarterly burns in their whitepaper v2 but I couldn’t verify it as whitepaper v2 is nowhere to be found.) > > ​ > > **Ethereum 2.0 and other competitors** > > Successful upgrade of the Ethereum network might make BSC less attractive. When Ethereum has competitive transaction fees, the main advantage of BSC will be gone. If most developers work on Ethereum now, despite ridiculously high fees, **BNB may suffer a serious hit** when those fees are finally lowered. > > And there are more rivals on the horizon. Recently, Cardano successfully launched their smart contracts. Solana is becoming popular. There is also Polkadot, Avalanche, Algorand, Terra… The competition is growing and a centralized project like BNB might not survive in a decentralized world of cryptocurrencies. > > \_\_\_\_\_\_\_\_\_\_\_\_\_\_ > > **^(Sources:)** > > [^(https://www.binance.com/en/support/faq/115000583311)](https://www.binance.com/en/support/faq/115000583311) > > [^(https://www.binance.com/en/bnb#COIN-BURN)](https://www.binance.com/en/bnb#COIN-BURN) > > [^(https://www.binance.com/en/bnb#BNB-RIGHT)](https://www.binance.com/en/bnb#BNB-RIGHT) > > [^(https://www.binance.com/en/support/announcement/2af5831727164545b8a2c665fae8bc04)](https://www.binance.com/en/support/announcement/2af5831727164545b8a2c665fae8bc04) > > [^(https://finance.yahoo.com/news/binance-coin-bnb-why-interesting-110049570.html)](https://finance.yahoo.com/news/binance-coin-bnb-why-interesting-110049570.html) > > [^(https://www.investopedia.com/terms/b/binance-coin-bnb.asp)](https://www.investopedia.com/terms/b/binance-coin-bnb.asp) > > [^(https://trading-education.com/pros-and-cons-of-investing-in-binance-coin)](https://trading-education.com/pros-and-cons-of-investing-in-binance-coin) > > [^(https://guarda.com/academy/blockchain/what-is-binance-smart-chain/?utm\\source=Reddit&utm\_medium=Social&utm\_campaign=CryptoCurrency-BSC-article)](https://guarda.com/academy/blockchain/what-is-binance-smart-chain/?utm\source=Reddit&utm_medium=Social&utm_campaign=CryptoCurrency-BSC-article) > > [^(https://www.finextra.com/blogposting/20815/binance-and-regulatory-scrutiny-changing-times-for-the-crypto-market)](https://www.finextra.com/blogposting/20815/binance-and-regulatory-scrutiny-changing-times-for-the-crypto-market) ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/tuwu8i/top_coins_binance_coin_conarguments_april_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin=) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10szhfn/daily_general_discussion_february_4_2023_gmt0/).

CointestMod

#Bitcoin Con-Arguments Below is an argument written by Far-Scholar9028 which won 3rd place in the Bitcoin Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Understanding the benefits and drawbacks of the bitcoin blockchain is essential if you're considering investing in bitcoin. In the previous thread, we named a few pros of BTC, now let's move on to the cons of BTC. > > **Volatility** > > Bitcoin is a traders dream due to volatility, however that is also one of its biggest issues. Bitcoin will never be used as a currency due to price fluctuations. If a car was first purchased for 2 BTC and returned a week later, for instance, should 2 BTC be returned despite the fact that the valuation has increased, or should the new amount (calculated in accordance with current valuation) be sent? > > **Security** > > Bitcoin Network Security: There might be undiscovered weaknesses in the Bitcoin system. Due to the fact that this system is still relatively new, if Bitcoins were to become extensively used and a fault was discovered, it might greatly increase the wealth of the exploiter at the risk of destroying the Bitcoin economy. > > Wallet Security: Wallets are primed to be lost, hacked and stolen. Bitcoins are virtually lost if a hard drive crashes, a virus corrupts data, the wallet file is corrupted, and the seed phrase is not backed up. Nothing could be done to get it back. These coins will remain abandoned in the system forever. Investors and users could become bankrupt as a result in a matter of seconds with no chance of recovery. > > **Proof-of-Work** > > The PoW is a mechanism for assisting a group of strangers who are also self-interested, equal, and there are no subordinates in the network, according to the Satoshi Nakamoto Institute. PoW requires a lot of energy. It's expensive and demands a lot of processing power. It is susceptible to the infamous 51% assault, which means that if hostile miners control 51% of the network, they might seize dominance and render decentralization useless. > > Edit: Sources: > > https://paxful.com/university/bitcoin-volatility/ > > https://www.mandiant.com/resources/blog/cryptocurrency-blockchain-networks-facing-new-security-paradigms > > https://nakamotoinstitute.org/mempool/the-proof-of-work-concept/#selection-139.6-139.409 ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpuiar/top_coins_bitcoin_conarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10szhfn/daily_general_discussion_february_4_2023_gmt0/).

CointestMod

#Bitcoin Pro-Arguments Below is an argument written by Far-Scholar9028 which won 3rd place in the Bitcoin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Understanding the benefits and drawbacks of the bitcoin blockchain is essential if you're considering investing in bitcoin. Let's start off with the positives of BTC. > > **21 Million Fixed Supply** > > Bitcoin cannot be printed by governments at will, unlike fiat money like the US dollar. There are only a total of 21 million bitcoins in existence. An estimated 3.7 million bitcoins have been lost, which means they will never be found without the private key. Citizens all over the world are using bitcoin as an inflation hedge due to the continued money creation by central banks around the world. > > **Decentralization** > > The ability to conduct financial transactions without a third-party intermediary watching over the transaction is referred to as decentralization. The nodes, or individual computers that make up the Bitcoin network, are numerous. Decentralization is crucial because it precludes an attack on a single point of failure, making it nearly impossible for any government or organization to bring down the BTC network. > > **25/7/365** > > Bitcoin doesn't have afternoon or weekend closing times like conventional financial markets do. Bitcoin can be traded 365 days a year, around the clock. Furthermore, sending bitcoin is quicker than making a bank transfer. The Bitcoin network is accessible to everyone. It is an open peer-to-peer network that everyone can utilize, regardless of where they reside or how much money they have. > > **Self Custody** > > Self-custody is vital for cryptocurrencies like bitcoin. You don't have to rely on a single corporation, a bank, or legal documents to acquire full ownership of your possessions. In nations around the world with weak property rights, this has a huge impact and gives people more power and control over their finances. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpui9i/top_coins_bitcoin_proarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin) to find arguments on this topic in other rounds.

CointestMod

* Relevant Cointest topics: [Bitcoin Cash](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_bitcoin_cash), [Litecoin](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_litecoin), [Lightning Network](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_lightning_network), [Proof of Work](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_proof-of-work) * Official and related subreddits: r/Bitcoin, r/BitcoinMarkets, r/BitcoinMining, r/BTC, r/BitcoinCash. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/10t5xsw/binance_says_indian_crypto_exchange_wazirx_can_no/j75hsmk/?sort=controversial). Doesn't work on mobile.

ExplanationWild7328

I have 100$ to spend! Not sure if I should spend it on DOT or MATIC. Already bought 50$ of BTC yesterday and 50$ of ETH a few days ago. Currently have some CRO, XRP, BTC, ETH, SHIB, DOGE, ELON, SOL

big_fetus_

oh no you listed all my holdings outside BTC locked ETH and ATOM. lol

Mercy605

1. BTC 2.ADA 3.CORE : but I got my eyes on this one at the moment, read through the tokenomics of the project as well as their desire to build the strongest and most inclusive community in Web3. We are all anticipating the price listing to be officially announced on 8th of February on different exchanges like huobi, okx , MEXCGLOBAL & the rest

Flynn_Kevin

No shit, they give it to the Treasury who lets GSA auction it off. I've tried to buy siezed BTC, it typically goes for about market price, and you have to buy the whole lot being sold.

JERMYNC

LCX, FET or ocean for AI Moons maybe if list But I'll take my solid returns with mostly in BTC, ETH, ADA, Dot and Hedera . Here for long haul

Vegas_42

Loopring or Harmony maybe? /s If the sub shills it, sell it. Learned that during the last 2 years. Maybe MATIC or AVAX will be great and I wish them all the best, but I stay 90% with BTC/ETH. 10% in another project I believe in after reading the whitepaper and DYOR. Nevertheless, the best performer 2023 will be a random shitcoin.

thestonkinator

I was damn near an ETH/LINK maxi for the past few years, but recently moved to around 90% BTC as well. As much as I actually believe in some of these types of projects, the securities risk is real.

CointestMod

#Bitcoin Pro-Arguments Below is an argument written by Far-Scholar9028 which won 3rd place in the Bitcoin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Understanding the benefits and drawbacks of the bitcoin blockchain is essential if you're considering investing in bitcoin. Let's start off with the positives of BTC. > > **21 Million Fixed Supply** > > Bitcoin cannot be printed by governments at will, unlike fiat money like the US dollar. There are only a total of 21 million bitcoins in existence. An estimated 3.7 million bitcoins have been lost, which means they will never be found without the private key. Citizens all over the world are using bitcoin as an inflation hedge due to the continued money creation by central banks around the world. > > **Decentralization** > > The ability to conduct financial transactions without a third-party intermediary watching over the transaction is referred to as decentralization. The nodes, or individual computers that make up the Bitcoin network, are numerous. Decentralization is crucial because it precludes an attack on a single point of failure, making it nearly impossible for any government or organization to bring down the BTC network. > > **25/7/365** > > Bitcoin doesn't have afternoon or weekend closing times like conventional financial markets do. Bitcoin can be traded 365 days a year, around the clock. Furthermore, sending bitcoin is quicker than making a bank transfer. The Bitcoin network is accessible to everyone. It is an open peer-to-peer network that everyone can utilize, regardless of where they reside or how much money they have. > > **Self Custody** > > Self-custody is vital for cryptocurrencies like bitcoin. You don't have to rely on a single corporation, a bank, or legal documents to acquire full ownership of your possessions. In nations around the world with weak property rights, this has a huge impact and gives people more power and control over their finances. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpui9i/top_coins_bitcoin_proarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin) to find arguments on this topic in other rounds.

CointestMod

* Relevant Cointest topics: [Bitcoin Cash](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_bitcoin_cash), [Litecoin](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_litecoin), [Lightning Network](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_lightning_network), [Proof of Work](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_proof-of-work) * Official and related subreddits: r/Bitcoin, r/BitcoinMarkets, r/BitcoinMining, r/BTC, r/BitcoinCash. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/10t4y6e/why_bitcoin_reigns_supreme_debunking_charlie/?sort=controversial). Doesn't work on mobile.

alllballs

Good God. Can we stop with the BTC romance novels already?

nullc

> Wright (the liar claiming to be Satoshi) is suing BitCoin client developers ... so he can steal 110,000 BTC. ... It's safe to say it's going to win, again. Now that's some military grade cynicism for you!

01technowichi

The SEC is the only group looking to declare cryptos a security. Odds are, they will declare almost if not *all* of them securities. The only ones they've ever indicated they *wont* call a security (*indicate* mind you, considering they can 180 on a dime or lie through their teeth) are BTC and ETH. So, I have no idea where you're getting the idea that DOT is safer than ETH...

furbess

The only ones who could have held their BTC long enough to go from 3 digits (or less) to 5 are those that couldn't access their funds or forgot they had it.

croa81

Or you could take 10 minutes and see BTC moves in 4 year cycles and it doesn’t take a genius to know that NOW is the time to buy heavy

croa81

DCA is normie advice for normie results. Every crypto veteran knows BTC moves in 4 year cycles. I made all my buys from Nov to Jan. I will sell in at the top. NOW IS THE TIME TO BUY!!‼️‼️‼️‼️‼️‼️

jamesarmour

So what happened to 12,000 BTC is this off the table or what?

Dieselpump510

If BTC is 100K I wouldn’t be surprised with 2500.

dylan6091

I'm not sure how it works, but you can fund a lightning channel with BTC, and then transact over lightning using reddit. So people can tip each other real BTC.

BlockchainIsTheWay

Tell the world you’re clueless about math, WITHOUT telling the world you’re clueless about market cap. He didn’t lose $10 you dummy. He lost $10 of BTC units BACK IN 2010. If BTC was indeed 0.005 per unit back then, then he’d be 2000 BTC in the hole meaning he just lost $50 million. Even if BTC was more like $2.50, he’d still have lost 4 BTC which is roughly $100k today. I can’t believe I even had to explain this..

Many_Quick

Same here...doing good on BTC..down on ADA...but it is starting to perk up

JERMYNC

Eth and BTC are assumed

Relevant-Bluebird-63

That sucks to hear and sounds like it’s tough to deal with. Do you think about it daily or have you been able to move on? I always wonder what it would be like to be someone that had a bunch of BTC in the golden era and lost/spent it. I can fully admit that if I knew about btc back then I would have never hung onto it. I probably would have sold at a 10X gain for a grand : /

whiteycnbr

If you're using that logic you're better off converting to BTC.

mr_ordinaryboy

This is so true. A friend of mine who introduced me to BTC in 2014 (I didnt buy any, though. I curse my stupidity until now. He has sold in 2017. He's now chilling elsewhere and enjoying his life. Me on the other hand is stuck with 9-5 job. Fml

Dfranco123

BTC if you could curl up a little that would be nice 👍🏼

Ok-Grapefruit1284

The only way i keep up with her adhd is using my own adhd against her. It’s like having adhd x2. BTC and shit coins are our only hope. But at least there’s hope. Stay strong, fiat mining friend.

MuzBizGuy

Bingo. I first heard about BTC around $600 but thought you had to buy whole shares like a stock. I can guarantee I would have sold before $10k and even that’s probably being pretty generous with myself.

This-Minute-9364

BTC Pay Server and your own node.

emtbro

Joke is on you I moved all my coins from BTC-e to a nice American exchange Cryptsy. Fuck bigverne

CryptoScamee42069

The OGs are bi-bullish. Buy when it’s cheap, ride when it spikes. It’s all good in the BTC hood

99Beers

I want to expand on BTC in the $60s. When Bitcoin went from $60k to $50k it really felt incomprehensible that BTC could go back in the 40s. We were all high on our own supply. There were $100k predictions coming from legit sources. The idea of dropping into the 30s at that time, Ha. You have a better chance of winning the lottery. 20s - the 20s were so far away that no one thought we'd ever return that low ever. It was impossible. Below $20k? Please. Go to anyone near the peak of FOMO in the bullrun at you would have been laughed at for suggesting BTC under <$20k. There was this whole super-cycle narrative that crypto was more mature and would never again drop so drastically as it did in the previous bear.

Z3LS3

June 2017: the date at which you could get the most BTC for your ETH (0.14 around 2x what you can get today) Jan 4 2018: this was when ADA reached its ATH against BTC (around 8k sats) Even during the next bull run, neither put in ATHs vs BTC again, only against fiat.

redbullandranch

And don't trust anybody for help. If they get those keys the BTC is theirs. In