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r/CryptoMoonShotsSee Post

Analysis from Crypto Hedge fund of Gains.farm

r/CryptoMoonShotsSee Post

$GFARM2 - Upgraded leverage trading exchange & 2nd Certik audit in coming. Going live VERY SOON. $3m mcap. Unreal. Seriously.

r/SatoshiStreetBetsSee Post

Purchased 200K (SAND) after this leaked blog post of a 🅱️inance partnership NFT trading competition tomorrow. Blog has since been deleted.

r/CryptoCurrencySee Post

NFT markets and projects.

r/CryptoCurrencySee Post

Non-fungible Token(NFT): The Next Big Thing in Crypto Market

r/CryptoCurrencySee Post

NFTs | The upsides, the downsides, and the future of art

r/CryptoMoonShotsSee Post

Digicol $DGCL. One-Click-Deployment of NFT's . 4.5M marketcap (for now)

r/CryptoCurrencySee Post

Draper Goren Holm Backs Kalamint NFT Marketplace

r/CryptoMoonShotsSee Post

Forbes wrote about NFT! Now I will definitely farm CyberTime

r/CryptoMoonShotsSee Post

CyberTime - NFT project & tokens with real use case

r/CryptoCurrenciesSee Post

Spiderman NFT sells for 12.75 ETH as Marvel comic artists land on Ethereum

r/CryptoCurrencySee Post

Spiderman NFT sells for 12.75 ETH as Marvel comic artists land on Ethereum

r/SatoshiStreetBetsSee Post

Spiderman NFT sells for 12.75 ETH as Marvel comic artists land on Ethereum

r/CryptoMarketsSee Post

Non-fungible Token(NFT): The Next Big Thing in Crypto Market

r/CryptoMoonShotsSee Post

Zero Exchange primed for takeoff 🚀🚀

r/CryptoCurrenciesSee Post

The First NFT Minting And Trading Platform On Tezos Launches Today: Kalamint

r/CryptoCurrencySee Post

Blockchain-Backed NFT Market Value Grew 299% in 2020

r/BitcoinSee Post

Blockchain-Backed NFT Market Value Grew 299% in 2020

r/CryptoCurrencySee Post

Building a NFT fractional ownership system on Wax blockchain

r/CryptoCurrencySee Post

My experience in Crypto: Perfectly Balanced, As All Things Should Be. A big thanks to the community!!

r/SatoshiStreetBetsSee Post

Matic Network (Now Polygon) Hands Down has the Most Potential to 100x your investment

r/SatoshiStreetBetsSee Post

Fyooz - Low market cap NFT recently promoted by BitBoy

r/CryptoMoonShotsSee Post

$BASX protocol, just launched

r/SatoshiStreetBetsSee Post

Pepemon.finance (PPBLZ) (PPDEX) NFT!

r/CryptoCurrencySee Post

The number one NFT by sales is NBA top shot developed by Flow! This project will see great things happen to it!

r/CryptoCurrenciesSee Post

Student Coin is the first platform that allows users to easily design, create, and manage personal, corporate, NFT, and DeFi tokens.

r/CryptoMoonShotsSee Post

Pepemon. Like Heartstone but on Blockchain. Powered by DeFi and using NFTs as in-game assets

r/CryptoMoonShotsSee Post

Not your typical call. Its an NFT within $OMI's VEVE app

r/CryptoMoonShotsSee Post

$COVAL, NFT's & Cross-chain atomic swaps on Ethereum network. True CryptoMoonshot.

r/CryptoMoonShotsSee Post

The NFT gaming champion ~ First CS:GO Blockchain Tournament Edition

r/CryptoMoonShotsSee Post

Hey I think I may have found THE literal $GEM perfectly poised for the upcoming NFT mania.

r/CryptoCurrencySee Post

Once Upon a Time in Shaolin

r/CryptoMoonShotsSee Post

Crow Finance Moonshot on BSC

r/SatoshiStreetBetsSee Post

Case for Lukso(LYXe)

r/SatoshiStreetBetsSee Post

IYF Finance - My top pick

r/SatoshiStreetBetsSee Post

Blockchain Bites: Why Buy an NFT?

r/CryptoMarketsSee Post

Pioneer DeFi and NFT Game Platform AnRKey X Integrates Chainlink VRF on Mainnet

r/CryptoCurrencySee Post

Origin Protocol and 3LAU team up on NFT launchpad. Top bidder can collaborate on new music.

r/CryptoMarketsSee Post

Pioneer DeFi and NFT Game Platform AnRKey X Integrates Chainlink VRF on Mainnet

r/CryptoCurrenciesSee Post

Pioneer DeFi and NFT Game Platform AnRKey X Integrates Chainlink VRF on Mainnet

r/CryptoCurrencySee Post

Charlie Lee predicts NFT prices are headed down the drain.

r/SatoshiStreetBetsSee Post

Cult Toy Brand Superplastic Launches NFT Collection on Nifty Gateway

r/CryptoCurrencySee Post

No pain, no gain. The world shall know Chainblock! My first NFT!

r/CryptoMoonShotsSee Post

My Diglett is tingling

r/SatoshiStreetBetsSee Post

Cash in on Pokemon Day?

r/CryptoCurrencySee Post

Christie’s to Auction Ethereum NFT by Crypto Artist Beeple

r/SatoshiStreetBetsSee Post

Christie’s to Auction Ethereum NFT by Crypto Artist Beeple

r/CryptoCurrencySee Post

Why NFTs have value

r/CryptoMoonShotsSee Post

Next 10x moonshot - Unifty (NIF)

r/CryptoMoonShotsSee Post

GrowYourBase

r/BitcoinSee Post

Two Feet and FEWOCiOUS’s NFT auction becomes the third to top $1m in sales

r/CryptoCurrenciesSee Post

Two Feet and FEWOCiOUS’s NFT auction becomes the third to top $1m in sales

r/CryptoCurrencySee Post

NFT prices will eventually crash, says Litecoin creator Charlie Lee

r/SatoshiStreetBetsSee Post

What are Hashmasks and is opensea save

r/CryptoCurrencySee Post

Pricing in Rarity of NFT's

r/SatoshiStreetBetsSee Post

Two Feet and FEWOCiOUS’s NFT auction becomes the third to top $1m in sales

r/CryptoMoonShotsSee Post

new on the radar NFTWARS nftwars.io

r/CryptoCurrencySee Post

Hodlberg ]-[ Financial - Tokenized Holdings

r/CryptoMoonShotsSee Post

What are you most bullish on for NFT Projects?

r/SatoshiStreetBetsSee Post

Graphic Designer David Rudnick Sells NFT for $20,000

r/CryptoMoonShotsSee Post

$CFI - 10 Reasons to look into it

r/CryptoCurrencySee Post

Simple explanation for fees and wallet types?

r/CryptoCurrencySee Post

NFT | To celebrate the Year of the Ox, VIMworld is adding 50 Limited Edition Niu Mowang VIMs to Adopt-a-VIM!

r/CryptoMoonShotsSee Post

Unique One $RARE... NFT Market Place with Airdrop Soon

r/CryptoCurrencySee Post

Former Marvel Illustrator To Bring Sky Godz Animated Anime NFT Series To Tezos

r/BitcoinSee Post

Bitcoin Genesis: This artwork is mathematically linked the hash of Bitcoin's genesis block, turning the block that started it all into a uniquely colorful NFT.

r/CryptoCurrenciesSee Post

Electroneum joins NFT world and is set to hit $1 by the end of 2021

r/CryptoCurrencySee Post

First NFT Posted

r/SatoshiStreetBetsSee Post

NFT BOOM - $chonk airdrop just sold for 3 Eth on openSea

r/CryptoMoonShotsSee Post

WYNAUT - Reflect Token on Binance Smart Chain

r/CryptoMoonShotsSee Post

Chonk airdrop sells for 3 Eth on openSea

r/CryptoMoonShotsSee Post

$BONDLY is definitely my low cap top 100 candidate.

r/CryptoMoonShotsSee Post

DEFI and NFT? Yes please - $Doki & $Azuki

r/SatoshiStreetBetsSee Post

Bondly not a shit post but gain porn for all who listen

r/CryptoCurrenciesSee Post

Ethereum NFT Market Primed for Explosive Growth in 2021

r/CryptoCurrenciesSee Post

Joker NFT Art to the Moooooon!

r/CryptoCurrenciesSee Post

Former Marvel Illustrator To Bring Sky Godz Animated Anime NFT Series To Tezos

r/CryptoCurrenciesSee Post

Mint NFTs on the Cardano blockchain

r/CryptoCurrenciesSee Post

NFT prices will eventually crash, says Litecoin creator Charlie Lee

r/CryptoMoonShotsSee Post

$BONK - One of the few NFT projects that hasn't pumped yet

r/SatoshiStreetBetsSee Post

NFT prices will eventually crash, says Litecoin creator Charlie Lee

r/CryptoMoonShotsSee Post

// GFARM2 \\

r/SatoshiStreetBetsSee Post

Ethereum NFT Market Primed for Explosive Growth in 2021

r/BitcoinSee Post

How high could bitcoin get in 2021? Are NFT cryptocurrencies the future? Today Brekkie Von Bitcoin, Bitcoin artist/Creative Director at SwanBitcoin, joins us to talk cryptocurrency in 2021!

r/CryptoMoonShotsSee Post

Looking for a NFT gem..

Mentions

How does attempting to return an unwanted NFT or a small amount of crypto to the scammer result in a large amount of crypto being sent?

Mentions:#NFT

Been in development for 7 years and yet... - Takes forever to send a tx - Costs way more than fast L1s like Solana or L2s like Base - Virtually NO stablecoins... no USDT or USDC - No institutional interest of any sorts as evidenced by fund flows into institutional products (source: [https://blog.coinshares.com/volume-187-digital-asset-fund-flows-weekly-report-03a835f3e795](https://blog.coinshares.com/volume-187-digital-asset-fund-flows-weekly-report-03a835f3e795) ) - No DeFi presence whatsoever, largely because UTXO model is a nightmare for DeFi... Cardano is ranked 28th in terms of TVL per DeFillama - No NFT presence either... NFTs are dead as a sector, but even chains like SOL and ETH still have way more activity than ADA - No memecoins... the biggest one? A dumb pig that the ADA community championed after it reached a market cap of $1M in 12 hours LOL. - Never talked about amongst any kind of influencers or any kind of smart money in crypto... just a retail name that normies are bag holding and refuse to take the L and move on - Charles Hoskinson is a psychopath and narcissist. There is no shortage of ppl in the ecosystem who worked with him and say how bad of a person he is to work with, how fake he is, etc. Has previously like about all sorts of stuff, like his Master's degree. - Project takes an "academic approach" first, which is merely an excuse at this point as to why it hasn't gained any adoption. People for years have been saying, "WELL IT'S ALL GOING TO CHANGE AFTER THE NEXT UPGRADE." Refusing to take a "ship fast and iterate" approach like all big tech companies have employed over the past several decades is proving to be a big mistake. Cannot believe ppl still think ADA is going somewhere other than $0. This is the cycle that it really falls by the wayside.

tldr; Ledger has issued a warning about a new scam called 'address poisoning' targeting crypto users. In this scam, scammers send a small amount of crypto or a disguised NFT to a user's wallet, hoping the user will mistakenly copy the scammer's wallet address from their transaction history when attempting to return the item. This results in funds being sent to the scammer's account instead. Ledger advises users to ignore suspicious transactions and to hide any unwanted tokens or NFTs to avoid interaction. The company emphasizes that the only real risks to wallets are sharing a 24-word recovery phrase or signing a malicious transaction with a Ledger device. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

Mentions:#NFT#DYOR

From a customers perspective I can only recommend Zypto ❤️‍🔥 Zyptoapp is making Defi Payments super easy and convinient 👍 couldnt be any smoother 🤩 Also having all Defi Services in one place at the same time 🦄 I joined Zyptoapp already during beta testing in March and found the progress inpressive. By now I created a Defi wallet and like the App way better than my previous metamask or Trustwallet. Which I tbh not really found convinient at any time... I Especially like the super easy to use In-App Swap , combined with the growing Number of integrated On- and Offramping Services ❤️ Now I hope for a fast Integration of making NFT's visible. Also the announced Cefi - App Part would be extremely handy imo 👌 Nice ❤️👌

Mentions:#NFT

That's certainly meant to be re-list, not resist 😅. From a tech perspective, via partner bridges! We of course won't be able to cover truly every NFT, but we will be able to integrate many of the large NFT market places and then automatically bridge the NFT's to Glue after they are purchased by the user.

Mentions:#NFT

There is a statement on whitepaper that **"NFT Marketplaces: The hub will resist NFTs from all marketplaces**  " So how exactly and securely you guys aim to achieve this?

Mentions:#NFT

#Ethereum Pro-Arguments Below is an argument written by Nostalg33k which won 2nd place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > ​ > > # Ethereum: Use-case driving value > > Ethereum is a very valuable Blockchain. This blockchain is driven by innovation and utility. To understand what makes Ethereum such a valuable eco-system we need to discuss the inner-working of Ethereum. > > # Introduction: Ethereum explained > > According to [Ethereum.org](https://Ethereum.org) : > > >What is Ethereum? > > Ethereum is a technology that's home to digital money, global payments, and applications. The community has built a booming digital economy, bold new ways for creators to earn online, and so much more. It's open to everyone, wherever you are in the world – all you need is the internet. > > So the topic driving this discussion is badly worded. If we are discussing top coins then we should discuss Ether and not Ethereum. Since Ethereum is such an interesting ecosystem I will treat this argument as a pro Ethereum post. I'd love to see the discussion focused on Ether next time. > > Ethereum is not managed by a single entity nor managed by the Ethereum Foundation but is managed through a decentralized process explained [In their governance page](https://ethereum.org/en/governance/). > > Time for some metrics: Ethereum is currently trading north of 1750 $ and has a circulating supply of 122 millions ETH for a Market cap at around 218 billions > > Let's go back to the quote: "Ethereum is a technology that's home to digital money". This point is important. Ether is not the only coin which is using the Ethereum blockchain. A lot of value on the Ethereum Blockchain is not in Ether coins. This will be discussed further down. Ethereum is also home to global payment, so Ether and other cryptocurrencies can be used to settle transactions between P2P in a permissionless way. > > Applications called Dapps exist on the blockchain. We are going to discuss all of these aspects. We are also going to tackle NFTs on the Ethereum Blockchain. > > Ethereum is also completed by L2s. These are going to be mentioned. > > Ethereum has been switched from POW to Asic resistant POW to POS. These are going to be discussed. > > ​ > > # Ethereum: Home to digital money. > > Ethereum strength is that the blockchain is home to many cryptocurrencies. If gas fees are paid in Ether, many tokens have billions circulating in the Ethereum ecosystem. A quick look at Etherscans reveal how strong the ethereum ecosystem is. > > According to [EtherScan](https://etherscan.io/tokens) the blockchain has 40 Billions $ in USDT, 46 Billions in USDC and 7 Billions $ in Wrapped BTC. The market cap of Ether may be around 200 billions but the on chain value of assets in the Ethereum Blockchain is far higher. > > All of these USDT and USDC are stablecoins which can be used for transactions. In fact, it can be used for P2P transaction in a permissionless way but also to buy stuff from businesses. [Here is a list of business accepting USDT (which exists in the Ethereum blockchain)](https://nowpayments.io/blog/businesses-accepting-tether) and [Here is a list of business accepting directly Ethereum](https://www.analyticsinsight.net/top-10-companies-accepting-ethereum-as-a-payment-method-in-2022/) > > These classical transactions are not the only use of the Ethereum Blockchain: Dapps and NFT are also thriving ! > > # Ethereum: Home to dapps and NFTs > > Ethereum is home to a lot of different applications: Marketplaces, exchanges, defi, wallets, games... > > These application are different because they are called dapps: > > >A decentralised application (DApp,\[1\] dApp,\[2\] Dapp, or dapp) is an application that can operate autonomously, typically through the use of smart contracts, that run on a decentralized computing, blockchain or other distributed ledger system.\[3\] > > [Wikipedia Dapps](https://en.wikipedia.org/wiki/Decentralized_application) > > To give a glance to these dapps you can head to this website tho be wary of the first dapp listed being an advertisement for shady businesses (I haven't found a better website to source dapps) [Here you go](https://dappradar.com/rankings/protocol/ethereum/1) > > While I don't believe in the current state of NFT technology being viable (See my write up in favor of NFT speaking about the future of this technology), we have to take into account that even after losing 60% of their value there is still 3 Billions USD in NFTs in the Ethereum Blockchain [Source](https://cointelegraph.com/news/ethereum-nft-collections-lost-nearly-60-of-their-market-cap-in-2022-report) > > # Ethereum: Layers of goodness. > > Ethereum can be a bit expensive for people, this is why it was layered. There are side chains existing just to be cheaper than Ethereum while offering bridges to and from Ethereum. For example Polygon. > > >Polygon is a Layer-2 scaling solution created to help bring mass adoption to the Ethereum platform. It caters to the diverse needs of developers by providing tools to create scalable decentralized applications (dApps) that prioritize performance, user experience (UX), and security. > > So if you want to be able to evaluate Ethereum you need to go and read about the biggest layer 2 pro and cons. > > [A small list of Ethereum layer 2 given by Ethereum.org](https://ethereum.org/en/layer-2/) > > # Ethereum: Evolve to thrive > > Ethereum has been a rapidly evolving ecosystem. It has seen the evolution of mining from GPU to Asic. In order to not become reliant on Asic mining, Ethereum was made Asic resistant. This created other problems: A pressure on the GPU market but also a concern for energy efficiency. In order to improve the footprint but also reduce the fees, Ethereum was made to transistion from POW to POS. Proof of stake is a protocol in which you need to stake coins to run a node in the network. > > This shows an ability to look ahead and to tackle challenges. > > # Conclusion: Ethereum is a rapidly evolving ecosystem which has a lot of value in it. Since Ether is their native coin, all of this impacts Ether's value. > > This is where we go back to the TOP COIN aspect of this write up. Everything I have said has an impact on the value and use of Ether. If you believe in the future of the Ethereum Blockchain, you can go ahead and look a bit more into Ether. If you don't believe in the Ethereum Blockchain then you should try to find a competitor. > > Just know that Ethereum is trying to become deflationary and that their economic outlook seems on par with good cryptos. > > Ethereum is one of the techs of the future and this essay has shown some of the most important aspects of it. > > Have fun ! ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/100p71b/top_coins_ethereum_proarguments_january_2023/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

If 2-3% yearly on crypto makes you do such dumb things and your reason to pick a wallet is the "customer service" you are doing it all wrong. Connecting your wallet to any service you see advertised anywhere is calling to be scammed. It doesn't matter if the ad is shown in your wallet as an NFT, on Twitter or reddit, you JUST DON'T CONNECT YOUR WALLET TO SITES YOU DON'T KNOW OR TRUST. Even less accept unknown transactions. You've fucked up on every level and this is only the result of greediness and ignorance.

The scan i use allows me to see up to 10 wallets linked to the first address. So I was hopping from one to the next. I agree, having multiple wallets is a must. I just like the fact I can see where the money is going and who is holding and who is bluffing. Just wish I had this years ago when I made some of my mistakes. Also able to see NFT inventories was eye opening.

Mentions:#NFT

This was a marketing stunt by some NFT platform 🙄

Mentions:#NFT

#Solana Con-Arguments Below is a Solana con-argument written by Nostalg33k. > # Solana: A tale of broken trust and VCs > > Solana, an infamous name living as the shadow of it former self [Currently hovering at a price a bit higher than 10% of the ATH](https://coinmarketcap.com/currencies/solana/) which is a shame for any investor. In this small analysis we are going to discuss why Solana is a failure on multiple fronts. From Security, to stability. Let's delve into Solana. > > ​ > > # From outages to outrages > > Solana has been transformed into a laughingstock by the repeating outages the network has known. While it is claimed that [Solana is all about speed, with 400 millisecond block times. And as hardware gets faster, so does the network.](https://Solana.com) The Solana network has suffered [6 outages in the month of January](https://fortune.com/2022/01/25/solana-founder-anatoly-yakovenko-crypto-crash-blockchain-instability/) Stability has not been the strong suit of the network. This has sparked outrage against the network but ALSO against some exchanges because these outages are leading big dumps on the markets: [When speculator sell and lead to a 12 % dump](https://www.cnbc.com/2022/06/01/solana-suffered-its-second-outage-in-a-month-sending-price-plunging.html) the most dedicated investor are left holding their bags on the blockchain. > > Every discussion about Solana as an investment should discuss the possibility of outages and swings. > > # The Main Use case is Bullshit > > The main use case for Solana is to sell useless no common sense NFTs. While there are good use case for NFT technology, art and music nfts as they exist are just a passing fad and will need to evolve or disappear. Being a place linked mainly with this technology is very risky and shows a devotion to speculation and not to common sense use cases. > > ​ > > ​ > > # Security: Hacks, hacks, hacks and VCs > > The Solana ecosystem has known a lot of failures. The fact is that value is on the ETH side of the crypto ecosystem so bridges are required. When the Wormhole bridge saw a hack leading to 120000 ETH being minted out of the bridge leading to a loss which would be currently valued at 160 Millions. > > When this happened Jump Crypto, a subsidiary from Jump Capital, found 320 Millions to buy ETH and replace the missing funds. This allows us to understand two possibilities. > > 1) Jump Crypto did this from the kindness of their heart > > 2) Jump Crypto did this because they are heavily invested in Solana and control a large part of the SOL moving around. > > Now this may be speculation BUT recently Jump Crypto was said to be working to overhaul the open source SOL protocol for nodes. This leads to doubt about the legitimacy of the Solana Fundation and who controls the project. > > [https://protos.com/jump-crypto-forced-to-save-solana-with-320m-bailout-of-its-own-company/](https://protos.com/jump-crypto-forced-to-save-solana-with-320m-bailout-of-its-own-company/) > > [https://thedefiant.io/jump-crypto-solana-overhaul](https://thedefiant.io/jump-crypto-solana-overhaul) > > [https://www.reuters.com/technology/crypto-network-wormhole-hit-with-possible-320-mln-hack-2022-02-03/](https://www.reuters.com/technology/crypto-network-wormhole-hit-with-possible-320-mln-hack-2022-02-03/) > > ​ > > # Conclusion: A lacking use case, a profit motive from VCs and a past of lacking security and stability must lead you to high caution. > > VCs are here to make money and they must be holding bags of Solana. If you buy some SOL you are putting yourself into their games and are now dancing with them. While NFT is the future for so many reasons (intellectual property, administration and so much more) the current use case are laughable and security will be at the forefront of gouvernements or IP management companies sending patents through your blockchain. > > Being seen as an Eth killer, Solana is far from making the cut. I'd advise extreme caution. Please don't get burn't by this project. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Solana) to find submissions for other topics.

#Solana Pro-Arguments Below is a Solana pro-argument written by a deleted user. > #PROs > > This is the Pros section of [my analysis on Solana](https://np.reddit.com/r/MPlankton/comments/vk42tn/solana_research_june_2022/) > > ##Low Transaction Fees > > Solana has very low transaction fees at about $0.0002 / transaction. They could still increase the fee schedule by ~40x before exceeding penny in cost. That's mainly because the fees are subsidized by staking rewards paid to powerful validators, which then contribute to ongoing SOL token [inflation of ~7%](https://messari.io/screener/supply-and-marketcap-EB1755C2) as of 2022. > > ##Moderately-high TPS > > The true TPS limit of Solana over the past year after subtracting invalid transactions and vote transactions is [about 400-600](https://dashboard.chaincrunch.cc/public/dashboard/cc7a0d94-7f70-46f4-aae4-2f8810430931#theme=night). It's not anywhere close to their marketed throughput of 50K TPS, but it's still moderately-high for a smart contract network. > > ##Centralization is not as bad as the reputation > > Solana has a very bad reputation for being centralized as **SQL**ana. It's actually not that centralized. There are currently 1900 validators, and the Nakamoto Consensus for shutting down the Solana network (needs 33% staked) is [currently 33 validators](https://solanabeach.io/validators). > > On the other hand, there's almost no information about the identity of these validators, so it's still possible they're mostly centrally-owned by the foundation. We just don't know. > > ##Outage and stability issues likely to be resolved by 2 upcoming updates > > The days of making fun of Solana for their outages could be coming to an end. Solana is working on [2 major updates](https://decrypt.co/103106/solana-new-gas-fees) that are meant to mitigate outages and provide stability to the network. > > **QUIC** replaces UDP for Solana's IP and Transport layer protocols. [QUIC] (https://en.wikipedia.org/wiki/QUIC) provides flow control, allowing nodes to throttle incoming traffic when there's too much from both intentional and unintentional DoS attacks. > > **Localized Fee Prioritization** allows Solana to dynamically charge higher fees for specific high-demand transactions. When a dApp or NFT project is congesting the network, the fee will rise for that app without affecting the rest of the network. This is a really cool solution I'd love to see other networks copy. > > ##Lots of DeFi projects > > There are a ton of DeFi projects on Solana. It has 39 DeFi projects above $1M in TVL. [DeFiLlama shows Solana at $1.4B in TVL](https://defillama.com/chains), which puts it between Tron and Arbitrum at #6. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Solana) to find submissions for other topics.

Mentions:#SOL#NFT

tldr; Konami Digital Entertainment, known for games like Metal Gear Solid, is launching an NFT platform called Resella on the Avalanche blockchain. Resella aims to simplify blockchain integration and NFT issuance for companies, offering a user-friendly marketplace that doesn't require external crypto wallets or handling of cryptocurrency. It will allow transactions in Japanese yen for domestic users and plans to expand globally. Resella, built on an Avalanche subnet, will offer customization features and eliminate gas fees for users. Konami envisions Resella enabling digital experiences like using NFTs as event tickets or unlocking exclusive content. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

Mentions:#NFT#DYOR

#NFT Con-Arguments Below is a NFT con-argument written by a deleted user. > ####**Anti-NFT backlash** > > By now, we need accept that most communities, especially the technology and gaming communities, absolutely hate NFTs. Even the crypto community is quite skeptical about the practical use cases for NFTs. > > There are literally subs banning users for having a reddit avatar NFT (like the 196 subreddit) even though they were given away freely. Gaming companies like [Ubisoft were absolutely vilified](https://arstechnica.com/gaming/2022/04/ubisofts-first-nft-experiment-was-a-dumpster-fire/) when they mentioned exploring NFTs in future games. [EA had to backtrack](https://www.protocol.com/bulletins/ea-ceo-nfts-blockchain-backtrack) after their own high-profile backlash. Gamers in particular hate Pay-to-Win and Pay-to-Earn systems, which are commonly used in the design scheme for NFT-based games. > > **It's risky for companies to endorse NFTs when their customers are going out of the way to avoid them.** NFTs will likely remain a very niche product for the near future. > > ####**Does not provide direct ownership** > > NFTs are records of transactions and don't provide direct ownership. They can hold metadata, which are often just glorified links and pointers to other sources. For example, an NFT could point to the URI of an image. **But there's nothing preventing others from creating new NFTs that point to the same image. Owning the NFT does not mean you own the referenced image.** It's up to the people, communities, and front-end services involved with the NFT to recognize that the NFT represents ownership of the object it links to. > > Similarly, NFTs that point to real objects like property also have to work within the confines of the regulatory system. If the regulatory system does recognize the the NFT, then trading that NFT doesn't transfer actual property rights. In that situation, the NFT becomes an unnecessary extra step. > > There are many [stolen artwork](https://www.theverge.com/2022/5/17/23077174/deviantart-protect-nft-crypto-stolen-art-blockchain-detection) that get created as NFTs. Many projects like Bored Apes have near-identical copycats of each other. For example, the official collection of MetaWaifus is on Solana, but there are 4 other (likely stolen) collections on Polygon's PoS network sold through Opensea that are duplicates of the original. Centralized marketplaces have to spend effort blocking stolen work, and it's a complicated game of whack-a-mole. > > ####**Uses centralized front-end services** > > NFTs require front-end services to provide an interface for customers. For example, games could easily cost 10s to 100s of millions of dollars and take many years to develop. **If the centralized front-end platform goes down or chooses to no longer recognize the NFTs, it could be cost-prohibitive and time-prohibitive for the community to rebuild it.** If that happens, the NFT will become worthless. Intellectual Property rights could also prevent the objects represented by the NFTs to be re-established without considerably changing how they look or work. > > ####**Reliant on blockchains** > > NFTs are stored on blockchains, so they carry all the risks and downsides to using them. **NFTs are at risk of theft, hacks, bugs, and user errors.** If you lose access to an NFT, there is no undo button or recovery system--it's permanently lost. Users will need to become familiar with a complex system of wallets, gas tokens, safety, and will shoulder the risk of owning NFTs. > > **Networks also can have high transaction and smart contract fees** for minting and transferring the NFTs. For example, BAYC NFT's Otherside sale brought in $253M of revenue, but cost $181M in Ethereum gas fees [[Source](https://qz.com/2161193/bored-ape-yacht-clubs-nfts-cost-181-million-in-gas-fees/)]. Even on the very-cheap Polygon PoS network, it cost 0.1-0.2 cents to mint a reddit NFT. They're cheap individually, but if you need to mint and transfer millions of these for the 400M+ monthly active redditors, the costs quickly add up. > > **Most blockchains are very storage-limited**, so the objects that the NFTs represent are often stored off-chain either on centralized databases or on IPFS, leading to the additional risk of dead links. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_NFT) to find submissions for other topics.

Mentions:#NFT

#NFT Pro-Arguments Below is a NFT pro-argument written by a deleted user. > ####**Niche following** > > By now, we need accept that most communities, especially the technology and gaming communities, hate NFTs. Even the crypto community is quite skeptical about the practical use cases for NFTs, and they will likely remain a **very niche product** for the foreseeable future. > > NFTs are similar to everything else that attract criticism from more practical shoppers because they have little practical use. In this aspect, they are similar to Rolex watches, gacha waifus, game character skins, anime car decals, expensive designer t-shirts, brand-name medicine, etc. Even though these products are expensive and have little practical value, **they still make their owners happy**. And who are we to criticize others for spending money that goes towards increasing happiness. > > Some game items like character skins, tradeable gacha items, and Steam/game marketplace items could easily be turned into NFTs without changing gameplay, so there is an existing market for them. > > ####**Decentralized backend, allowing more auditability and access** > > NFTs can be stored on public, immutable blockchains. This gives their users more flexibility in controlling how they transfer and interact with them. It also provides an auditable record that anyone else could build an API to visualize or track the NFTs. **The community no longer has to rely on the front-end service provider for API tools since the blockchain already provides public access to the data source.** Communities can build markets and other visualizers for their NFTs on their own without needing additional permissions. > > Keeping NFTs on open ledgers is also useful for tracking unethical practices like wash sales and money laundering. > > ####**Automatic Royalties** > > NFTs can be set up as smart contracts that provide automatic royalties to the original creator. There is no need for an intermediary, who can often take a huge cut of the creator profits. > > ####**Potentially lower fees** > > Ethereum NFTs are insanely expensive. It can easily cost tens to hundreds of dollars to mint a Layer 1 Ethereum NFT even when there's little congestion. > > However, many NFT collections have now moved over to cheaper networks like Polygon, Solana, and Ethereum Layer 2 networks. For example, the Reddit collectible avatars only cost around $0.002 each to bulk-mint on Polygon. That's $50 total to mint the 27000 NFTs currently available for [my avatar set](https://polygonscan.com/address/0x466a330887bDF62D53f968EA824793150f07762e). Reddit doesn't have to pay for the backend of keeping track of all these NFTs or ongoing costs of concerning they're transferred, so it's orders of magnitude cheaper than it was on Ethereum. > > Most NFT marketplaces only charge 1-2% for listing fees, which is much cheaper than many traditional digital art marketplaces that charge 5-20% (e.g. ArtStation, DeviantArt). After all, they only need to provide the front end, not the backend or customer support for transfers. Even gaming communities like Steam charge a 5-10% commission fee for item trades. **People can skip marketplace fees by trading directly on the blockchain.** ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_NFT) to find submissions for other topics.

Mentions:#NFT#API

* Relevant Cointest topics: [Ethereum](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_ethereum), [Cardano](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_cardano), [Solana](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_solana), [Algorand](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_algorand). * Relevant subreddits: r/CCNFT, r/Ethereum, r/Cardano, r/CosmosNetwork. * [NFT tutorial](https://reddit.com/r/CryptoCurrency/comments/lzjuf7/nft_madness_what_they_are_and_what_they_are_not/). * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/1dk83oe/metal_gear_solid_game_maker_konami_launching/l9fw83i/?sort=controversial). Doesn't work on mobile.

Mentions:#NFT

NFT {{pros}} & {{cons}} with related info are in the collapsed comments below.

Mentions:#NFT

#Solana Con-Arguments Below is a Solana con-argument written by Nostalg33k. > # Solana: A tale of broken trust and VCs > > Solana, an infamous name living as the shadow of it former self [Currently hovering at a price a bit higher than 10% of the ATH](https://coinmarketcap.com/currencies/solana/) which is a shame for any investor. In this small analysis we are going to discuss why Solana is a failure on multiple fronts. From Security, to stability. Let's delve into Solana. > > ​ > > # From outages to outrages > > Solana has been transformed into a laughingstock by the repeating outages the network has known. While it is claimed that [Solana is all about speed, with 400 millisecond block times. And as hardware gets faster, so does the network.](https://Solana.com) The Solana network has suffered [6 outages in the month of January](https://fortune.com/2022/01/25/solana-founder-anatoly-yakovenko-crypto-crash-blockchain-instability/) Stability has not been the strong suit of the network. This has sparked outrage against the network but ALSO against some exchanges because these outages are leading big dumps on the markets: [When speculator sell and lead to a 12 % dump](https://www.cnbc.com/2022/06/01/solana-suffered-its-second-outage-in-a-month-sending-price-plunging.html) the most dedicated investor are left holding their bags on the blockchain. > > Every discussion about Solana as an investment should discuss the possibility of outages and swings. > > # The Main Use case is Bullshit > > The main use case for Solana is to sell useless no common sense NFTs. While there are good use case for NFT technology, art and music nfts as they exist are just a passing fad and will need to evolve or disappear. Being a place linked mainly with this technology is very risky and shows a devotion to speculation and not to common sense use cases. > > ​ > > ​ > > # Security: Hacks, hacks, hacks and VCs > > The Solana ecosystem has known a lot of failures. The fact is that value is on the ETH side of the crypto ecosystem so bridges are required. When the Wormhole bridge saw a hack leading to 120000 ETH being minted out of the bridge leading to a loss which would be currently valued at 160 Millions. > > When this happened Jump Crypto, a subsidiary from Jump Capital, found 320 Millions to buy ETH and replace the missing funds. This allows us to understand two possibilities. > > 1) Jump Crypto did this from the kindness of their heart > > 2) Jump Crypto did this because they are heavily invested in Solana and control a large part of the SOL moving around. > > Now this may be speculation BUT recently Jump Crypto was said to be working to overhaul the open source SOL protocol for nodes. This leads to doubt about the legitimacy of the Solana Fundation and who controls the project. > > [https://protos.com/jump-crypto-forced-to-save-solana-with-320m-bailout-of-its-own-company/](https://protos.com/jump-crypto-forced-to-save-solana-with-320m-bailout-of-its-own-company/) > > [https://thedefiant.io/jump-crypto-solana-overhaul](https://thedefiant.io/jump-crypto-solana-overhaul) > > [https://www.reuters.com/technology/crypto-network-wormhole-hit-with-possible-320-mln-hack-2022-02-03/](https://www.reuters.com/technology/crypto-network-wormhole-hit-with-possible-320-mln-hack-2022-02-03/) > > ​ > > # Conclusion: A lacking use case, a profit motive from VCs and a past of lacking security and stability must lead you to high caution. > > VCs are here to make money and they must be holding bags of Solana. If you buy some SOL you are putting yourself into their games and are now dancing with them. While NFT is the future for so many reasons (intellectual property, administration and so much more) the current use case are laughable and security will be at the forefront of gouvernements or IP management companies sending patents through your blockchain. > > Being seen as an Eth killer, Solana is far from making the cut. I'd advise extreme caution. Please don't get burn't by this project. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Solana) to find submissions for other topics.

#Solana Pro-Arguments Below is a Solana pro-argument written by a deleted user. > **Solana Pros** > > **Proof-of-History** > > The development and use of the Proof-of-History consensus method, which enables Solana to achieve extraordinarily fast network speeds, is the most notable competitive advantage of the Solana blockchain. The sole purpose of this method was to raise TPS more than leading networks like Ethereum or Bitcoin. Due to the time normally needed to obtain consensus and properly organize the blockchain in response to time passing, proof of history helps other networks' scalability issues. > > **Transaction fees** > > Solana has a block size of 20,000 transactions and block time of 0.4 seconds. The Solana network offers an exceptionally cheap transaction cost of just 1c per transaction, which is made possible by the greater block time and block size. Solana is now among the blockchains with the lowest transaction costs because to this cost. > > **NFTs** > > Currently, NFTs account for a sizable portion of why individuals use these networks. The major factor behind Solana's NFT ecosystem's rapid expansion is the network's scalability, which enables it to handle transactions effectively. Ethereum can only handle 15 transactions per second, whereas Solana can process 50,000. This is important information for users to know because sluggish network speed also equates to expensive costs. The freedom that artists enjoy with their NFT works on Solana is enormous. This is mostly caused by the other blockchains' technical shortcomings. Fast processing times and affordable prices enable artists to produce works that, for instance, would be too expensive to mint on Ethereum. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Solana) to find submissions for other topics.

Mentions:#NFT

#Web3 Con-Arguments Below is an argument written by Nostalg33k which won 2nd place in the Web3 Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > # Web 3: A failure in progress. > > ​ > > Web 3 promise of a fully decentralized web is an absurdity which won't take off for a very long time. I'm going to tackle a few simple points which explain why Web 3 is a ridiculous concept. > > ​ > > # Introduction: What the ???? is Web 3 > > According to wikipedia: > > >Web3 (also known as Web 3.0\[1\]\[2\]\[3\]) is an idea for a new iteration of the World Wide Web which incorporates concepts such as decentralization, blockchain technologies, and token-based economics.\[4\] Some technologists and journalists have contrasted it with Web 2.0, wherein they say data and content are centralized in a small group of companies sometimes referred to as "Big Tech".\[5\] The term "Web3" was coined in 2014 by Ethereum co-founder Gavin Wood, and the idea gained interest in 2021 from cryptocurrency enthusiasts, large technology companies, and venture capital firms.\[5\]\[6\] > > > >Some commentators argue that Web3 will provide increased data security, scalability, and privacy for users and combat the influence of large technology companies.\[7\] They also raise concerns about the decentralized web component of Web3, citing the potential for low moderation and the proliferation of harmful content.\[7\] Some have expressed concerns over the centralization of wealth to a small group of investors and individuals,\[8\] or a loss of privacy due to more expansive data collection.\[9\] Others, such as Elon Musk and Jack Dorsey, have argued that Web3 only serves as a buzzword or marketing term.\[10\]\[11\]\[12\] > > [Web 3 Wikipedia](https://en.wikipedia.org/wiki/Web3) > > ​ > > So from here we can see that Web3 is understood as different concepts which are all more absurd than the other. In this small essay I'm going to explain why a fully blockchain internet is bad, why token-based economics is bad for users, why lack of centralized authorities makes it bad for everyone. Of course there is a place for blockchain based applications in the worldwide web. But acting as if Web3 was the next iteration of online interaction just as Web2 was is an utter absurdity as will be shown in the conclusion by leveraging all the arguments I will deploy. > > ​ > > # Blockchain internet: Imutability or privacy = wtf > > ​ > > The problem of a blockchain internet is twofold. First one is imutability, which means that nothing can be deleted. YES right now we should still think that nothing is really deleted when we post something on the internet BUT the imutability of blockchain means that any records tied to our real identity would be there forever. > > The second aspect is that any privacy layered part of the internet would obviously descend into a fully 4chan degeneracy. I don't see how this is an improvment for any of us. Moderation and rules are, after all, why this cointest works for example. > > ​ > > Also I'm not even sure that national agencies or the European Union would accept that private companies could hold data related to your accounts which aren't destroyable. > > Blockchain integration is neat when it is not a concept used for data. For example, the blockchain integration on reddit for NFT avatars or funny stuff like moons is neat. But the vision of Web3 advanced by advocates is not this one. > > ​ > > # Token-based economics: Pay For Play ? > > One of the big ideas for Web3 that was popping off recently was the Dogecoin twitter in which people would have to pay gas fees to post tweets. So the more people are using doge the most valuable it becomes. Which means that Twitter would become more and more expensive. The sheer exclusion of 3rd world users is insane. Token-based economics integrated for every interaction is not the way forward. > > # You hated skipping ads, you'll love smart contracts pop-ups for everything. > > Now we hate having to do multiple clicks when only one would be optimal. Now imagine posting something online and having to wait for a smart contract to show up and sign it. If you can see how obnoxious that would be, then you know that Web3 is not going to replace Web 2 Anytime soon. > > ​ > > # Centralization means rules and moderation. > > Having a centralized web means that there are rules coming from the top. If the rules become obnoxious, then a competitor can create a plateform to try to catch the users searching for a better plateform. Of course, there is no interoperability in the current web so migrating your account can mean losing access to your old data videos and history, which in turns makes user reluctant to shop for new plateforms. But the lack of moderation and terms of services would not solve this in anyway. We all know that there are people of all ages and very immature people of all ages online. Rules makes this shared place viable. > > Decentralizing rules and a lack of content moderation is nothing to strive for in our day and age. > > # Conclusion: Like electricity or language, the web is searching the path of least resistance. > > Web 2 showed that users are always looking for the path of least resistance, which means minimal effort. In language we strive for simplification. Over a long period of time language gets simplified because it makes us using less brain power and muscle power to convey meaning. Web2 through plateforms, rendered obsolete the need for everyone to have and manage their own website. In exchange big plateforms made billions. Without the cripsy sleekness and simpleness of web2, a new concept for the worldwide web is dead on arrival. > > This is the simple truth, web2 is easy to use, web3 is complicated mess with tons of problems. > > Blockchains have real utility but people need to stop reinventing the wheel and start investing in cool uses. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/z9o1nt/general_concepts_web3_conarguments_december_2022/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive##wiki_web3) 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/1dj5fdm/daily_crypto_discussion_june_19_2024_gmt0/).

Mentions:#YES#NFT

That is ignorant asf. Dude interacted with a scam site from an airdropped NFT and pressed “allow” when the site wanted to drain his account. How is exactly is this Telegram’s fault?

Mentions:#NFT

There is nothing scammy about Telegram. Dude went to a scam site linked in an airdropped NFT and allowed the site to access his funds.

Mentions:#NFT

I bought one of the trump trading cards for lols and that wallet got blown up with nft scams. For those who aren't familiar, theyll send you a NFT that has a link for claiming free doge or something. Then itll ask for you to login with your wallet and you know the rest of the story lol

Mentions:#NFT

I mean Trump himself is basically a crypto scammer with his NFT's right?

Mentions:#NFT

LOL! This market is so fucked. The only ones winning in alts are Sybil farmers doing nonsense shit. These fuckers will rotate their liquidity out of the ecosystem. It is like crypto hates money haha. Don’t even understand why VC want to fund projects keep dropping shit to Pudgy Penguins etc. That NFT project’s public awareness is just Walmart and other dollar stores. In fact, I haven’t even seen them in Walmart, but definitely in some random one dollar stores. What kind of advertising they are getting? Like how they are bragging about dumping their allocations to pay off their irl debts or cars etc., like they did with DYM? Really, is it positive advertisement for Pudgy or your project? lol.

Mentions:#VC#NFT#DYM

He has a bunch of it after his NFT sale though. So he's pumping his own bags. Idk. I hope he shoots himself but still don't mind him pumping crypto.

Mentions:#NFT

They’re selling Trump and Ivanka NFT collections. It’s Trump and Ivanka

Mentions:#NFT

Don’t mind them. Being real is where it’s at. So many people were making fun of us coneheads back then when we started our own coin. It’s still not the biggest thing out there but it did well enough that some of us got $10K usd (3 me, I didn’t sell at peak) from a $25 investment. And I sold my conehead NFT (in 30 mins) for 0.3 eth. Keep doing that thing it’s refreshing to see something like this every now and again.

Mentions:#NFT

#Bitcoin Pro-Arguments Below is an argument written by a deleted user which won 1st place in the Bitcoin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > **First-Mover Advantage and The Network Effect** > > Bitcoin is currently the most popular cryptocurrency and market cap leader by a long shot. The [Bitcoin dominance chart](https://www.coingecko.com/en/global-charts) shows that Bitcoin represents 60% of the entire cryptocurrency market cap. This has increased from 40% in 2020. > > Bitcoin is the **gateway**. People start out with Bitcoin before checking out other cryptocurrencies. They're likely going to keep holding any Bitcoin they bought along the way. > > People will flock to whichever product has the largest user base. For half a decade, Bitcoin was almost synonymous with cryptocurrency. The Network Effect creates a **positive feedback loop** and makes Bitcoin's lead grow even more. > > If Bitcoin, Bitcoin Cash, and Litecoin were all released simultaneously, Bitcoin would lose to its PoW competitors because its competitors have cheaper fees with higher throughput. But the reality is that Bitcoin's first-mover advantage gave it such a huge head start that the others can't catch up. > > **Has the largest block reward for security** > > Due to its high price, Bitcoin has a huge [block reward of 6.5 BTC](https://www.coingecko.com/en/coins/bitcoin/bitcoin-halving) (halves every 4 years) or ~$180k per block. This gives it the security lead because its block reward is so much bigger than other PoW cryptocurrencies, which attracts more miners. > > **Anti-censorship** > > Bitcoin provides partial censorship-resistance against sanctions and totalitarian government restrictions. It's much harder to prevent Bitcoin transactions than it is to prevent financial transactions at a centralized bank. [Legal sex workers](https://www.theverge.com/2021/8/24/22639356/onlyfans-ceo-tim-stokely-sexually-explicit-content-ban-banks) (e.g. Onlyfans) and [marijuana industries](https://www.leadingretirement.com/blog/cannabis-banking) are blocked from using traditional financial services due to social stigma. Even though they can operate legally, many TradFi banks avoid operating with them. Bitcoin provides those workers a way to transfer funds around that censorship. > > **Avoids Hyperinflation**: As long as governments keep causing high inflation through money-printing, people will run to Bitcoin for safety, which pumps up Bitcoin's price. > > **Considered a commodity by both SEC and CFTC**: Bitcoin is the only cryptocurrency that both the SEC and CFTC have openly agreed is a commodity. And the CFTC is much less lawsuit-happy than the SEC. > > **Legal tender**: El Salvador has shown (despite some technical mishaps) that Bitcoin can be successfully used as legal tender for a country. > > **Ordinals provide utility** > > Even though Bitcoin Maxis hate Ordinals, this new protocol gives utility to Bitcoin and adds demand. NFT bros are using it as an **on-chain data storage layer** for their own blockchains (e.g. Ethereum, Stack). This has an advantage over IPFS since IPFS is stored in centralized databases instead of on-chain. > > This generates more fees for Bitcoin miners. Transaction fees have finally [risen to ~20 sats/vByte](https://mempool.space/graphs/mempool) on days with high Ordinals activity like Mar 22-24. This gives hope that there may be sufficient demand for Bitcoin as an on-chain data-storage layer even after the block subsidy eventually disappears due to halvings. > > **Pseudonymous**: Bitcoin's UTXO transactions can provide moderately-high levels of obscurity. A single wallet can produce a near-unlimited amount of addresses, and there's no way to link them unless they interact with each other. It's much harder to trace UTXO-based wallets than Account-based wallets because the former creates new UTXO addresses with each transaction while Account-based blockchain wallets typically reuse the same account. > > **Lightning transactions are near-instant and cheap** > > As long as you're spending small amounts of Bitcoin, you can use the Lightning network to make near-instant, sub-$0.01 transactions. Many Lightning nodes for merchants are connected to 3rd-party services that convert between cash and Lightning, making it easy to transfer Bitcoins. Consumers usually don't have to care about rebalancing issues since they're only spending small amounts. > > And the [total capacity of the Lightning Network](https://bitcoinvisuals.com/ln-capacity) in BTC keeps increasing steadily. > > **Cannot be counterfeited**: Cash can be counterfeited, but you can't fake Lightning transactions. Merchants have to deal with counterfeit cash in many markets around the world. > > **Bitcoin has a very strong community of die-hard supporters** > > A huge portion of Bitcoin supporters have become Bitcoin Maxis who will keep spreading their arguments, regardless of accuracy. Because Bitcoin is a gateway cryptocurrency, crypto newbies will encounter it first and gobble up these narratives because they don't have the experience to know their flaws. And they're very convincing when you keep repeating them in an echo chamber: > > * Maximum supply cap of 21M BTC vs Fed's money printer > * Amazing past-performance gains vs fiat > * Works as Store of Value (despite volatility) > * Had a "fair launch" without an ICO > * Is not a risky altcoin > * Is decentralized (based on largest number of miners) > * Has instant payments via the Lightning Network > > **Ultimately, people are mainly using crypto for speculative investing and long-term Store of Value. Most people don't care about technology, Defi, or utility. Thus Bitcoin is sufficient for their investment needs.** > > And since cryptocurrency value is largely based on a Keynesian Beauty Contest (i.e. you buy not based on your own value, but on what you think others are going to buy), people are going to keep buying Bitcoin as long as the investment narrative holds. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/100p7vq/top_coins_bitcoin_proarguments_january_2023/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin) to find arguments on this topic in other rounds.

Mentions:#BTC#SEC#NFT

People realized NFT’s had no actual value.

Mentions:#NFT

All that stuff sounds great but as an investor I only care about price appreciation. Everyone talks about how their crypto investment will change the world and solve world hunger but not actual usage. Ethereum's NFT hype = more users = price appreciation. Solana's shitcoin hype = more users = price appreciation. If XRP or any other crypto have similar hype and adoption I'll be on board.

Mentions:#NFT#XRP

ZkScam for sure, so many wallets getting max allocation (100k) with 0-9 tx is bs vs 0 for people active for over a year. Looking at ATH of the NFT projects they airdropped to as well, how the price suddenly dropped after march 24th despite no announcement of the snapshot until 3 months later. so much insider trading

Mentions:#ATH#NFT

#Bitcoin Pro-Arguments Below is an argument written by a deleted user which won 1st place in the Bitcoin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > **First-Mover Advantage and The Network Effect** > > Bitcoin is currently the most popular cryptocurrency and market cap leader by a long shot. The [Bitcoin dominance chart](https://www.coingecko.com/en/global-charts) shows that Bitcoin represents 60% of the entire cryptocurrency market cap. This has increased from 40% in 2020. > > Bitcoin is the **gateway**. People start out with Bitcoin before checking out other cryptocurrencies. They're likely going to keep holding any Bitcoin they bought along the way. > > People will flock to whichever product has the largest user base. For half a decade, Bitcoin was almost synonymous with cryptocurrency. The Network Effect creates a **positive feedback loop** and makes Bitcoin's lead grow even more. > > If Bitcoin, Bitcoin Cash, and Litecoin were all released simultaneously, Bitcoin would lose to its PoW competitors because its competitors have cheaper fees with higher throughput. But the reality is that Bitcoin's first-mover advantage gave it such a huge head start that the others can't catch up. > > **Has the largest block reward for security** > > Due to its high price, Bitcoin has a huge [block reward of 6.5 BTC](https://www.coingecko.com/en/coins/bitcoin/bitcoin-halving) (halves every 4 years) or ~$180k per block. This gives it the security lead because its block reward is so much bigger than other PoW cryptocurrencies, which attracts more miners. > > **Anti-censorship** > > Bitcoin provides partial censorship-resistance against sanctions and totalitarian government restrictions. It's much harder to prevent Bitcoin transactions than it is to prevent financial transactions at a centralized bank. [Legal sex workers](https://www.theverge.com/2021/8/24/22639356/onlyfans-ceo-tim-stokely-sexually-explicit-content-ban-banks) (e.g. Onlyfans) and [marijuana industries](https://www.leadingretirement.com/blog/cannabis-banking) are blocked from using traditional financial services due to social stigma. Even though they can operate legally, many TradFi banks avoid operating with them. Bitcoin provides those workers a way to transfer funds around that censorship. > > **Avoids Hyperinflation**: As long as governments keep causing high inflation through money-printing, people will run to Bitcoin for safety, which pumps up Bitcoin's price. > > **Considered a commodity by both SEC and CFTC**: Bitcoin is the only cryptocurrency that both the SEC and CFTC have openly agreed is a commodity. And the CFTC is much less lawsuit-happy than the SEC. > > **Legal tender**: El Salvador has shown (despite some technical mishaps) that Bitcoin can be successfully used as legal tender for a country. > > **Ordinals provide utility** > > Even though Bitcoin Maxis hate Ordinals, this new protocol gives utility to Bitcoin and adds demand. NFT bros are using it as an **on-chain data storage layer** for their own blockchains (e.g. Ethereum, Stack). This has an advantage over IPFS since IPFS is stored in centralized databases instead of on-chain. > > This generates more fees for Bitcoin miners. Transaction fees have finally [risen to ~20 sats/vByte](https://mempool.space/graphs/mempool) on days with high Ordinals activity like Mar 22-24. This gives hope that there may be sufficient demand for Bitcoin as an on-chain data-storage layer even after the block subsidy eventually disappears due to halvings. > > **Pseudonymous**: Bitcoin's UTXO transactions can provide moderately-high levels of obscurity. A single wallet can produce a near-unlimited amount of addresses, and there's no way to link them unless they interact with each other. It's much harder to trace UTXO-based wallets than Account-based wallets because the former creates new UTXO addresses with each transaction while Account-based blockchain wallets typically reuse the same account. > > **Lightning transactions are near-instant and cheap** > > As long as you're spending small amounts of Bitcoin, you can use the Lightning network to make near-instant, sub-$0.01 transactions. Many Lightning nodes for merchants are connected to 3rd-party services that convert between cash and Lightning, making it easy to transfer Bitcoins. Consumers usually don't have to care about rebalancing issues since they're only spending small amounts. > > And the [total capacity of the Lightning Network](https://bitcoinvisuals.com/ln-capacity) in BTC keeps increasing steadily. > > **Cannot be counterfeited**: Cash can be counterfeited, but you can't fake Lightning transactions. Merchants have to deal with counterfeit cash in many markets around the world. > > **Bitcoin has a very strong community of die-hard supporters** > > A huge portion of Bitcoin supporters have become Bitcoin Maxis who will keep spreading their arguments, regardless of accuracy. Because Bitcoin is a gateway cryptocurrency, crypto newbies will encounter it first and gobble up these narratives because they don't have the experience to know their flaws. And they're very convincing when you keep repeating them in an echo chamber: > > * Maximum supply cap of 21M BTC vs Fed's money printer > * Amazing past-performance gains vs fiat > * Works as Store of Value (despite volatility) > * Had a "fair launch" without an ICO > * Is not a risky altcoin > * Is decentralized (based on largest number of miners) > * Has instant payments via the Lightning Network > > **Ultimately, people are mainly using crypto for speculative investing and long-term Store of Value. Most people don't care about technology, Defi, or utility. Thus Bitcoin is sufficient for their investment needs.** > > And since cryptocurrency value is largely based on a Keynesian Beauty Contest (i.e. you buy not based on your own value, but on what you think others are going to buy), people are going to keep buying Bitcoin as long as the investment narrative holds. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/100p7vq/top_coins_bitcoin_proarguments_january_2023/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin) to find arguments on this topic in other rounds.

Mentions:#BTC#SEC#NFT

#Solana Con-Arguments Below is a Solana con-argument written by a deleted user. > **Solana Cons** > > **Centralization** > > An estimated 1,700 validator nodes support Solana. If a single entity or collection of entities comes to possess a sizable portion of the SOL token supply, the Solana network may become unduly concentrated. The network's decentralization may suffer because Solana requires more specialized equipment to join and is unable to draw a sizable user base. There is a high concentration of stakes among validators, with 22 validators controlling 33% of total staked SOL. Accordingly, if 22 validators conspired, the network might theoretically come to an end. > > **Network Outages** > > * September 14,2021: 15 Hours of outage as bots capitalized on an IDO on raydium > > * January 2022: The whole month faced partial outages of 6-12 per day due to high demand of NFT minting and defi usage. > > * April 30, 2022: 7 Hour outage due to a DDOS attack by bots > > **Solana, the token** > > The token distribution on Solana reveals that the top 0.04% of addresses, or around 3,000 addresses outright, hold 88.5% of the current outstanding SOL. Along with early investors and the founding team, these wallets also contain staking pools and exchanges. 11.7 million SOL are included in the biggest wallet. Less than 1% of the outstanding SOL is held by the bottom 98.6% of wallets on Solana. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Solana) to find submissions for other topics.

#Solana Pro-Arguments Below is a Solana pro-argument written by a deleted user. > **Solana Pros** > > **Proof-of-History** > > The development and use of the Proof-of-History consensus method, which enables Solana to achieve extraordinarily fast network speeds, is the most notable competitive advantage of the Solana blockchain. The sole purpose of this method was to raise TPS more than leading networks like Ethereum or Bitcoin. Due to the time normally needed to obtain consensus and properly organize the blockchain in response to time passing, proof of history helps other networks' scalability issues. > > **Transaction fees** > > Solana has a block size of 20,000 transactions and block time of 0.4 seconds. The Solana network offers an exceptionally cheap transaction cost of just 1c per transaction, which is made possible by the greater block time and block size. Solana is now among the blockchains with the lowest transaction costs because to this cost. > > **NFTs** > > Currently, NFTs account for a sizable portion of why individuals use these networks. The major factor behind Solana's NFT ecosystem's rapid expansion is the network's scalability, which enables it to handle transactions effectively. Ethereum can only handle 15 transactions per second, whereas Solana can process 50,000. This is important information for users to know because sluggish network speed also equates to expensive costs. The freedom that artists enjoy with their NFT works on Solana is enormous. This is mostly caused by the other blockchains' technical shortcomings. Fast processing times and affordable prices enable artists to produce works that, for instance, would be too expensive to mint on Ethereum. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Solana) to find submissions for other topics.

Mentions:#NFT

#Solana Con-Arguments Below is a Solana con-argument written by a deleted user. > **Solana Cons** > > **Centralization** > > An estimated 1,700 validator nodes support Solana. If a single entity or collection of entities comes to possess a sizable portion of the SOL token supply, the Solana network may become unduly concentrated. The network's decentralization may suffer because Solana requires more specialized equipment to join and is unable to draw a sizable user base. There is a high concentration of stakes among validators, with 22 validators controlling 33% of total staked SOL. Accordingly, if 22 validators conspired, the network might theoretically come to an end. > > **Network Outages** > > * September 14,2021: 15 Hours of outage as bots capitalized on an IDO on raydium > > * January 2022: The whole month faced partial outages of 6-12 per day due to high demand of NFT minting and defi usage. > > * April 30, 2022: 7 Hour outage due to a DDOS attack by bots > > **Solana, the token** > > The token distribution on Solana reveals that the top 0.04% of addresses, or around 3,000 addresses outright, hold 88.5% of the current outstanding SOL. Along with early investors and the founding team, these wallets also contain staking pools and exchanges. 11.7 million SOL are included in the biggest wallet. Less than 1% of the outstanding SOL is held by the bottom 98.6% of wallets on Solana. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Solana) to find submissions for other topics.

#Solana Pro-Arguments Below is a Solana pro-argument written by a deleted user. > #PROs > > This is the Pros section of [my analysis on Solana](https://np.reddit.com/r/MPlankton/comments/vk42tn/solana_research_june_2022/) > > ##Low Transaction Fees > > Solana has very low transaction fees at about $0.0002 / transaction. They could still increase the fee schedule by ~40x before exceeding penny in cost. That's mainly because the fees are subsidized by staking rewards paid to powerful validators, which then contribute to ongoing SOL token [inflation of ~7%](https://messari.io/screener/supply-and-marketcap-EB1755C2) as of 2022. > > ##Moderately-high TPS > > The true TPS limit of Solana over the past year after subtracting invalid transactions and vote transactions is [about 400-600](https://dashboard.chaincrunch.cc/public/dashboard/cc7a0d94-7f70-46f4-aae4-2f8810430931#theme=night). It's not anywhere close to their marketed throughput of 50K TPS, but it's still moderately-high for a smart contract network. > > ##Centralization is not as bad as the reputation > > Solana has a very bad reputation for being centralized as **SQL**ana. It's actually not that centralized. There are currently 1900 validators, and the Nakamoto Consensus for shutting down the Solana network (needs 33% staked) is [currently 33 validators](https://solanabeach.io/validators). > > On the other hand, there's almost no information about the identity of these validators, so it's still possible they're mostly centrally-owned by the foundation. We just don't know. > > ##Outage and stability issues likely to be resolved by 2 upcoming updates > > The days of making fun of Solana for their outages could be coming to an end. Solana is working on [2 major updates](https://decrypt.co/103106/solana-new-gas-fees) that are meant to mitigate outages and provide stability to the network. > > **QUIC** replaces UDP for Solana's IP and Transport layer protocols. [QUIC] (https://en.wikipedia.org/wiki/QUIC) provides flow control, allowing nodes to throttle incoming traffic when there's too much from both intentional and unintentional DoS attacks. > > **Localized Fee Prioritization** allows Solana to dynamically charge higher fees for specific high-demand transactions. When a dApp or NFT project is congesting the network, the fee will rise for that app without affecting the rest of the network. This is a really cool solution I'd love to see other networks copy. > > ##Lots of DeFi projects > > There are a ton of DeFi projects on Solana. It has 39 DeFi projects above $1M in TVL. [DeFiLlama shows Solana at $1.4B in TVL](https://defillama.com/chains), which puts it between Tron and Arbitrum at #6. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Solana) to find submissions for other topics.

Mentions:#SOL#NFT

What did any of your post have to do with crypto/bitcoin? He can accept shib & solana on his website, release NFT's, pledge support for btc mining and announce that he will never allow cbdc from being formed by the USA. ....But if he doesn't accept the proceedings against his porn star hush money trial, it proves to you that he hasn't really embraced crypto? The trial with first-time-ever use of removal of statute of limitations and novel defining of residency. I can't fathom someone saying this outloud. "Yeah Trump is literally trading crypto and building up stacks of several different coins, but he hasn't actually embraced it since he won't accept the outcome of the strangest legal trial in NY history." >But my issue with his crypto stance doesn’t necessarily relate to the substance of it, it stems from a much more basic distrust of him and his motives So there's the heart of it. You should be upfront with your bias.

Mentions:#NFT#USA

> Trump don’t know a damn thing about crypto Trump does know his NFT sell well. HE aint that stupid and he is willing to change his mind. case in point. You will say.. Its pandering for votes. isn't that democracy is all about ? Electing politicians who changes their views to attract voters? Seem democracy is functioning real well.

Mentions:#NFT

Womplay: you earn wombucks by playing games and you can join a payout pool every week. It's not like you will get rich busy it, but you can earn some NFT's on wax/eos chain too and sell them (they are used for games, so most of them will sell, but you need luck to get some rare ones.).

Mentions:#NFT

There's already sound.xyz and Gala Music. Why didn't they just use one of those existing platforms for NFT songs? Are they going to be building out their own streaming platform infrastructure just a single album? Seems pointless.

Mentions:#NFT

Right on, so I just wanted to maybe start the wave of finding a hidden gem in the NFT world. I think this is a really different project all things considered and to get in today for only a dollar and help speed up the process, I figured it might be something people would be interested in, and sorry it was actually Thursday it was made I’m finding. Don’t take my research for granted, also why I’m here haha!!!

Mentions:#NFT

I think I was overcritical trying to say to manage expectations. I think you're right. I mean if it was only a buck that's pretty sweet I'd grab a couple in that case for my friends. The value of any nft album is going to be in the popularity of that artist realistically, wutang has some staying power so it just seems lower risk. If some artist releases an NFT exclusive that becomes a chart topper that could go very well.

Mentions:#NFT

#Ethereum Pro-Arguments Below is an argument written by Nostalg33k which won 2nd place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > ​ > > # Ethereum: Use-case driving value > > Ethereum is a very valuable Blockchain. This blockchain is driven by innovation and utility. To understand what makes Ethereum such a valuable eco-system we need to discuss the inner-working of Ethereum. > > # Introduction: Ethereum explained > > According to [Ethereum.org](https://Ethereum.org) : > > >What is Ethereum? > > Ethereum is a technology that's home to digital money, global payments, and applications. The community has built a booming digital economy, bold new ways for creators to earn online, and so much more. It's open to everyone, wherever you are in the world – all you need is the internet. > > So the topic driving this discussion is badly worded. If we are discussing top coins then we should discuss Ether and not Ethereum. Since Ethereum is such an interesting ecosystem I will treat this argument as a pro Ethereum post. I'd love to see the discussion focused on Ether next time. > > Ethereum is not managed by a single entity nor managed by the Ethereum Foundation but is managed through a decentralized process explained [In their governance page](https://ethereum.org/en/governance/). > > Time for some metrics: Ethereum is currently trading north of 1750 $ and has a circulating supply of 122 millions ETH for a Market cap at around 218 billions > > Let's go back to the quote: "Ethereum is a technology that's home to digital money". This point is important. Ether is not the only coin which is using the Ethereum blockchain. A lot of value on the Ethereum Blockchain is not in Ether coins. This will be discussed further down. Ethereum is also home to global payment, so Ether and other cryptocurrencies can be used to settle transactions between P2P in a permissionless way. > > Applications called Dapps exist on the blockchain. We are going to discuss all of these aspects. We are also going to tackle NFTs on the Ethereum Blockchain. > > Ethereum is also completed by L2s. These are going to be mentioned. > > Ethereum has been switched from POW to Asic resistant POW to POS. These are going to be discussed. > > ​ > > # Ethereum: Home to digital money. > > Ethereum strength is that the blockchain is home to many cryptocurrencies. If gas fees are paid in Ether, many tokens have billions circulating in the Ethereum ecosystem. A quick look at Etherscans reveal how strong the ethereum ecosystem is. > > According to [EtherScan](https://etherscan.io/tokens) the blockchain has 40 Billions $ in USDT, 46 Billions in USDC and 7 Billions $ in Wrapped BTC. The market cap of Ether may be around 200 billions but the on chain value of assets in the Ethereum Blockchain is far higher. > > All of these USDT and USDC are stablecoins which can be used for transactions. In fact, it can be used for P2P transaction in a permissionless way but also to buy stuff from businesses. [Here is a list of business accepting USDT (which exists in the Ethereum blockchain)](https://nowpayments.io/blog/businesses-accepting-tether) and [Here is a list of business accepting directly Ethereum](https://www.analyticsinsight.net/top-10-companies-accepting-ethereum-as-a-payment-method-in-2022/) > > These classical transactions are not the only use of the Ethereum Blockchain: Dapps and NFT are also thriving ! > > # Ethereum: Home to dapps and NFTs > > Ethereum is home to a lot of different applications: Marketplaces, exchanges, defi, wallets, games... > > These application are different because they are called dapps: > > >A decentralised application (DApp,\[1\] dApp,\[2\] Dapp, or dapp) is an application that can operate autonomously, typically through the use of smart contracts, that run on a decentralized computing, blockchain or other distributed ledger system.\[3\] > > [Wikipedia Dapps](https://en.wikipedia.org/wiki/Decentralized_application) > > To give a glance to these dapps you can head to this website tho be wary of the first dapp listed being an advertisement for shady businesses (I haven't found a better website to source dapps) [Here you go](https://dappradar.com/rankings/protocol/ethereum/1) > > While I don't believe in the current state of NFT technology being viable (See my write up in favor of NFT speaking about the future of this technology), we have to take into account that even after losing 60% of their value there is still 3 Billions USD in NFTs in the Ethereum Blockchain [Source](https://cointelegraph.com/news/ethereum-nft-collections-lost-nearly-60-of-their-market-cap-in-2022-report) > > # Ethereum: Layers of goodness. > > Ethereum can be a bit expensive for people, this is why it was layered. There are side chains existing just to be cheaper than Ethereum while offering bridges to and from Ethereum. For example Polygon. > > >Polygon is a Layer-2 scaling solution created to help bring mass adoption to the Ethereum platform. It caters to the diverse needs of developers by providing tools to create scalable decentralized applications (dApps) that prioritize performance, user experience (UX), and security. > > So if you want to be able to evaluate Ethereum you need to go and read about the biggest layer 2 pro and cons. > > [A small list of Ethereum layer 2 given by Ethereum.org](https://ethereum.org/en/layer-2/) > > # Ethereum: Evolve to thrive > > Ethereum has been a rapidly evolving ecosystem. It has seen the evolution of mining from GPU to Asic. In order to not become reliant on Asic mining, Ethereum was made Asic resistant. This created other problems: A pressure on the GPU market but also a concern for energy efficiency. In order to improve the footprint but also reduce the fees, Ethereum was made to transistion from POW to POS. Proof of stake is a protocol in which you need to stake coins to run a node in the network. > > This shows an ability to look ahead and to tackle challenges. > > # Conclusion: Ethereum is a rapidly evolving ecosystem which has a lot of value in it. Since Ether is their native coin, all of this impacts Ether's value. > > This is where we go back to the TOP COIN aspect of this write up. Everything I have said has an impact on the value and use of Ether. If you believe in the future of the Ethereum Blockchain, you can go ahead and look a bit more into Ether. If you don't believe in the Ethereum Blockchain then you should try to find a competitor. > > Just know that Ethereum is trying to become deflationary and that their economic outlook seems on par with good cryptos. > > Ethereum is one of the techs of the future and this essay has shown some of the most important aspects of it. > > Have fun ! ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/100p71b/top_coins_ethereum_proarguments_january_2023/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

#Chainlink Con-Arguments Below is a Chainlink con-argument written by etj103007. > **What is Chainlink?** > > *Disclaimer: I have interacted with smart contracts using Chainlink, though I don’t hold any of the token itself.* > > Chainlink is an oracle network, allowing smart contracts to receive (and send) external information. In short, it allows the blockchain to interact with the outside world. > > It is supported on many different blockchains, including the Ethereum Mainnet, its L2s, and sidechains such as Polygon. > > However, the Chainlink network itself is not a blockchain. Instead, it calls itself “blockchain-agnostic” meaning it can theoretically be used on any chain that wants to support it. > > Say you want send 10$ of a coin or token to a certain address every day. Well, if it was a stablecoin, it’d be pretty easy. But maybe it’s Ethereum, or WBTC, or some other token that fluctuates in price. As such, the amount of said token/coin worth 10$ always changes. Using Chainlink, you can avail the price of that token/coin, and be able to calculate the exact amount to send so that it equals 10$. There are many other situations just like this that the Chainlink network is used for. > > The Chainlink token serves a niche; it is used to pay the node operators for the data they deliver. Recently, LINK staking has launched with the advent of Chainlink Staking v0.1. This allows operators and users to stake their LINK to secure the network. > > Chainlink is used as an oracle by various DeFi protocols like AAVE, dYdX, Synthetix, by various NFT projects such as those created by the NBA, even decentralized insurance (Etherisc) and more. ([https://blog.chain.link/smart-contract-use-cases/](https://blog.chain.link/smart-contract-use-cases/)) > > # Pros of Chainlink (LINK) > > **1. Chainlink is secure, scalable, and reliable.** > > The nature of being a Chainlink node operator maintains these 3 qualities. Node operators are required to follow a set of guidelines for their nodes to ensure security. For example, nodes have to have backups for the nodes connecting to their data sources, snapshots of the chain for syncing, Ethereum to pay for gas, and more. > > Being decentralized and relying on the blockchain to secure the data feed transactions pretty much guarantees its security as well. > > Node operators also do their best to optimize the performance of their nodes and have also released multiple developments to increase scalability, such as the Off-Chain Reporting upgrade which has reduced operating costs by 90% ([https://blog.chain.link/off-chain-reporting-live-on-mainnet/](https://blog.chain.link/off-chain-reporting-live-on-mainnet/)) > > As said before, Chainlink (being based on smart contracts) can theoretically be used on any blockchain that wishes to adopt it. And with the use cases mentioned above ([https://blog.chain.link/smart-contract-use-cases/](https://blog.chain.link/smart-contract-use-cases/)), the only thing it needs is developers willing to adopt it into their respective blockchains. > > The Chainlink network also prides itself on its reliability. Being serviced by independent and reputable node operators such as Infura, Swisscom (telecom company), Huobi, Binance, and others, it relies on this network of operators to source the data needed onchain. As node operators need to stake their tokens as collateral, it also challenges them to offer good performance. > > For example, Chainlink held an “oracle Olympics” challenging operators to keep their uptime at 100% while undergoing several challenges. While 100% is impossible, the winners guaranteed 99.99%, ensuring that their nodes would be available for that amount of time while still surviving thru challenges. > > **2. Chainlink’s recently launched Chainlink Staking v.0.1 allows users to stake their tokens while securing the networks' nodes.** > > While currently only supporting the ETH/USD data feed on mainnet Ethereum, other data feeds will soon be supported. Meanwhile, Staking 0.2 is planned in 9-12 months and is expected to bring updates and developments to staking, and also allow withdrawals of currently staked LINK. > > Just like traditional staking, this version allows users to secure the network; unlike POS blockchains, Chainlink doesn’t run on a blockchain so stakers secure by raising alerts (if the oracle doesn’t report an update in 3 hours, for example). If the alerts are valid, they can earn LINK, improving the security of the network by penalizing unresponsive nodes. > > Reputation systems for nodes have also been developed, ensuring that nodes maintain their good performance and continue providing correct oracle prices. > > These two systems combined ensure every node performs well and allow users in the ecosystem to earn rewards while securing the network. > > **In conclusion:** > > Chainlink Network and its token will continue its developments in the next years as the demand for oracles increases across the crypto space. Its' progress in its tokenomics with the start of staking while simultaneously ensuring the performance of its nodes will be welcomed by users of the network. And as more and more chains support Chainlink, it won't be long until it'll be found everywhere in DeFi and other sectors. > > TLDR: LINK and its network is used in many sectors of crypto, is secure, scalable, and reliable, while its' tokenomics continue to progress. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Chainlink) to find submissions for other topics.

#Chainlink Pro-Arguments Below is a Chainlink pro-argument written by etj103007. > **What is Chainlink?** > > *Disclaimer: I have interacted with smart contracts using Chainlink, though I don’t hold any of the token itself.* > > Chainlink is an oracle network, allowing smart contracts to receive (and send) external information. In short, it allows the blockchain to interact with the outside world. > > It is supported on many different blockchains, including the Ethereum Mainnet, its L2s, and sidechains such as Polygon. > > However, the Chainlink network itself is not a blockchain. Instead, it calls itself “blockchain-agnostic” meaning it can theoretically be used on any chain that wants to support it. > > Say you want send 10$ of a coin or token to a certain address every day. Well, if it was a stablecoin, it’d be pretty easy. But maybe it’s Ethereum, or WBTC, or some other token that fluctuates in price. As such, the amount of said token/coin worth 10$ always changes. Using Chainlink, you can avail the price of that token/coin, and be able to calculate the exact amount to send so that it equals 10$. There are many other situations just like this that the Chainlink network is used for. > > The Chainlink token serves a niche; it is used to pay the node operators for the data they deliver. Recently, LINK staking has launched with the advent of Chainlink Staking v0.1. This allows operators and users to stake their LINK to secure the network. > > Chainlink is used as an oracle by various DeFi protocols like AAVE, dYdX, Synthetix, by various NFT projects such as those created by the NBA, even decentralized insurance (Etherisc) and more. ([https://blog.chain.link/smart-contract-use-cases/](https://blog.chain.link/smart-contract-use-cases/)) > > # Pros of Chainlink (LINK) > > **1. Chainlink is secure, scalable, and reliable.** > > The nature of being a Chainlink node operator maintains these 3 qualities. Node operators are required to follow a set of guidelines for their nodes to ensure security. For example, nodes have to have backups for the nodes connecting to their data sources, snapshots of the chain for syncing, Ethereum to pay for gas, and more. > > Being decentralized and relying on the blockchain to secure the data feed transactions pretty much guarantees its security as well. > > Node operators also do their best to optimize the performance of their nodes and have also released multiple developments to increase scalability, such as the Off-Chain Reporting upgrade which has reduced operating costs by 90% ([https://blog.chain.link/off-chain-reporting-live-on-mainnet/](https://blog.chain.link/off-chain-reporting-live-on-mainnet/)) > > As said before, Chainlink (being based on smart contracts) can theoretically be used on any blockchain that wishes to adopt it. And with the use cases mentioned above ([https://blog.chain.link/smart-contract-use-cases/](https://blog.chain.link/smart-contract-use-cases/)), the only thing it needs is developers willing to adopt it into their respective blockchains. > > The Chainlink network also prides itself on its reliability. Being serviced by independent and reputable node operators such as Infura, Swisscom (telecom company), Huobi, Binance, and others, it relies on this network of operators to source the data needed onchain. As node operators need to stake their tokens as collateral, it also challenges them to offer good performance. > > For example, Chainlink held an “oracle Olympics” challenging operators to keep their uptime at 100% while undergoing several challenges. While 100% is impossible, the winners guaranteed 99.99%, ensuring that their nodes would be available for that amount of time while still surviving thru challenges. > > **2. Chainlink’s recently launched Chainlink Staking v.0.1 allows users to stake their tokens while securing the networks' nodes.** > > While currently only supporting the ETH/USD data feed on mainnet Ethereum, other data feeds will soon be supported. Meanwhile, Staking 0.2 is planned in 9-12 months and is expected to bring updates and developments to staking, and also allow withdrawals of currently staked LINK. > > Just like traditional staking, this version allows users to secure the network; unlike POS blockchains, Chainlink doesn’t run on a blockchain so stakers secure by raising alerts (if the oracle doesn’t report an update in 3 hours, for example). If the alerts are valid, they can earn LINK, improving the security of the network by penalizing unresponsive nodes. > > Reputation systems for nodes have also been developed, ensuring that nodes maintain their good performance and continue providing correct oracle prices. > > These two systems combined ensure every node performs well and allow users in the ecosystem to earn rewards while securing the network. > > **In conclusion:** > > Chainlink Network and its token will continue its developments in the next years as the demand for oracles increases across the crypto space. Its' progress in its tokenomics with the start of staking while simultaneously ensuring the performance of its nodes will be welcomed by users of the network. And as more and more chains support Chainlink, it won't be long until it'll be found everywhere in DeFi and other sectors. > > TLDR: LINK and its network is used in many sectors of crypto, is secure, scalable, and reliable, while its' tokenomics continue to progress. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Chainlink) to find submissions for other topics.

I mean at the end of the day I only bought one because I thought for only a dollar I’ll get that early access now and see as a hip hop lover myself. Because I was kinda thinking I’d get some for free since I’m a GME holder, I’m just impatient and the cost was cheap. But then I got to thinking how it’s an NFT and they are numbered and maybe the GME holders get ones minted at a higher number later on... So I didn’t buy a bunch, but I figured a few Jacksons weren’t going to hurt anything to try to get a low mint number. I’m unsure how it will work exactly, but considering this albums history and they only costed a dollar each and I was helping to speed up the release, figured why not. Didn’t buy more than I was willing to lose. Figured it would get unlocked eventually and I could hear it for what it was. But I really got to thinking, might not be a bad investment either, I don’t know, that’s why I’m posting haha.

Mentions:#GME#NFT

If you want the album, then get it. NFT albums should be viewed like other albums in any form, which is to say, you are buying it as a consumer and music enjoyer. Essentially you shouldn't buy that stuff thinking it's going to make you money because that's a great way to get burnt.

Mentions:#NFT

#Solana Con-Arguments Below is a Solana con-argument written by Nostalg33k. > # Solana: A tale of broken trust and VCs > > Solana, an infamous name living as the shadow of it former self [Currently hovering at a price a bit higher than 10% of the ATH](https://coinmarketcap.com/currencies/solana/) which is a shame for any investor. In this small analysis we are going to discuss why Solana is a failure on multiple fronts. From Security, to stability. Let's delve into Solana. > > ​ > > # From outages to outrages > > Solana has been transformed into a laughingstock by the repeating outages the network has known. While it is claimed that [Solana is all about speed, with 400 millisecond block times. And as hardware gets faster, so does the network.](https://Solana.com) The Solana network has suffered [6 outages in the month of January](https://fortune.com/2022/01/25/solana-founder-anatoly-yakovenko-crypto-crash-blockchain-instability/) Stability has not been the strong suit of the network. This has sparked outrage against the network but ALSO against some exchanges because these outages are leading big dumps on the markets: [When speculator sell and lead to a 12 % dump](https://www.cnbc.com/2022/06/01/solana-suffered-its-second-outage-in-a-month-sending-price-plunging.html) the most dedicated investor are left holding their bags on the blockchain. > > Every discussion about Solana as an investment should discuss the possibility of outages and swings. > > # The Main Use case is Bullshit > > The main use case for Solana is to sell useless no common sense NFTs. While there are good use case for NFT technology, art and music nfts as they exist are just a passing fad and will need to evolve or disappear. Being a place linked mainly with this technology is very risky and shows a devotion to speculation and not to common sense use cases. > > ​ > > ​ > > # Security: Hacks, hacks, hacks and VCs > > The Solana ecosystem has known a lot of failures. The fact is that value is on the ETH side of the crypto ecosystem so bridges are required. When the Wormhole bridge saw a hack leading to 120000 ETH being minted out of the bridge leading to a loss which would be currently valued at 160 Millions. > > When this happened Jump Crypto, a subsidiary from Jump Capital, found 320 Millions to buy ETH and replace the missing funds. This allows us to understand two possibilities. > > 1) Jump Crypto did this from the kindness of their heart > > 2) Jump Crypto did this because they are heavily invested in Solana and control a large part of the SOL moving around. > > Now this may be speculation BUT recently Jump Crypto was said to be working to overhaul the open source SOL protocol for nodes. This leads to doubt about the legitimacy of the Solana Fundation and who controls the project. > > [https://protos.com/jump-crypto-forced-to-save-solana-with-320m-bailout-of-its-own-company/](https://protos.com/jump-crypto-forced-to-save-solana-with-320m-bailout-of-its-own-company/) > > [https://thedefiant.io/jump-crypto-solana-overhaul](https://thedefiant.io/jump-crypto-solana-overhaul) > > [https://www.reuters.com/technology/crypto-network-wormhole-hit-with-possible-320-mln-hack-2022-02-03/](https://www.reuters.com/technology/crypto-network-wormhole-hit-with-possible-320-mln-hack-2022-02-03/) > > ​ > > # Conclusion: A lacking use case, a profit motive from VCs and a past of lacking security and stability must lead you to high caution. > > VCs are here to make money and they must be holding bags of Solana. If you buy some SOL you are putting yourself into their games and are now dancing with them. While NFT is the future for so many reasons (intellectual property, administration and so much more) the current use case are laughable and security will be at the forefront of gouvernements or IP management companies sending patents through your blockchain. > > Being seen as an Eth killer, Solana is far from making the cut. I'd advise extreme caution. Please don't get burn't by this project. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Solana) to find submissions for other topics.

#Solana Pro-Arguments Below is a Solana pro-argument written by a deleted user. > #PROs > > This is the Pros section of [my analysis on Solana](https://np.reddit.com/r/MPlankton/comments/vk42tn/solana_research_june_2022/) > > ##Low Transaction Fees > > Solana has very low transaction fees at about $0.0002 / transaction. They could still increase the fee schedule by ~40x before exceeding penny in cost. That's mainly because the fees are subsidized by staking rewards paid to powerful validators, which then contribute to ongoing SOL token [inflation of ~7%](https://messari.io/screener/supply-and-marketcap-EB1755C2) as of 2022. > > ##Moderately-high TPS > > The true TPS limit of Solana over the past year after subtracting invalid transactions and vote transactions is [about 400-600](https://dashboard.chaincrunch.cc/public/dashboard/cc7a0d94-7f70-46f4-aae4-2f8810430931#theme=night). It's not anywhere close to their marketed throughput of 50K TPS, but it's still moderately-high for a smart contract network. > > ##Centralization is not as bad as the reputation > > Solana has a very bad reputation for being centralized as **SQL**ana. It's actually not that centralized. There are currently 1900 validators, and the Nakamoto Consensus for shutting down the Solana network (needs 33% staked) is [currently 33 validators](https://solanabeach.io/validators). > > On the other hand, there's almost no information about the identity of these validators, so it's still possible they're mostly centrally-owned by the foundation. We just don't know. > > ##Outage and stability issues likely to be resolved by 2 upcoming updates > > The days of making fun of Solana for their outages could be coming to an end. Solana is working on [2 major updates](https://decrypt.co/103106/solana-new-gas-fees) that are meant to mitigate outages and provide stability to the network. > > **QUIC** replaces UDP for Solana's IP and Transport layer protocols. [QUIC] (https://en.wikipedia.org/wiki/QUIC) provides flow control, allowing nodes to throttle incoming traffic when there's too much from both intentional and unintentional DoS attacks. > > **Localized Fee Prioritization** allows Solana to dynamically charge higher fees for specific high-demand transactions. When a dApp or NFT project is congesting the network, the fee will rise for that app without affecting the rest of the network. This is a really cool solution I'd love to see other networks copy. > > ##Lots of DeFi projects > > There are a ton of DeFi projects on Solana. It has 39 DeFi projects above $1M in TVL. [DeFiLlama shows Solana at $1.4B in TVL](https://defillama.com/chains), which puts it between Tron and Arbitrum at #6. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Solana) to find submissions for other topics.

Mentions:#SOL#NFT

tldr; This week in crypto, Bernstein predicts Bitcoin could reach $1 million by 2033 due to ETF-driven demand, with a potential $200,000 price point in the current cycle. Ethereum ETFs are expected to launch in July. MicroStrategy plans to buy more Bitcoin using $700 million in convertible notes. The FTC reports a surge in crypto-related romance scams. Nigeria dropped tax charges against Binance executives, and Thailand revoked Zipmex's license. The NFT market saw a 17% increase, with Bitcoin NFT sales jumping 50%, surpassing Ethereum. Paradigm announced an $850 million fund for crypto projects, and blockchain startups secured $109.3 million in funding. Hacking threats persist, with notable losses at OKX, Lykke, and UwU Lend. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

His official campaign site literally accepts freaking ZRX token and he’s held hour-long meetings with btc mining companies. His oldest son is directly managing an NFT project. Let me put it to you this way: What could Trump realistically and practically do that would convince you that he’s the pro-crypto candidate? If it would literally be impossible then you should be upfront about your biases when you make comments like the above.

Mentions:#ZRX#NFT

u/infinite_rez Just to make sure I understand what you have in mind correctly: So you are basically looking for a blockchain-based system for tracking student progress, gradings, and achievements perhaps as NFT. It should allow instructors to sign off on gradings and enable checking of student records across clubs. If yes, I think I'm able to build this for you, dm me.

Mentions:#NFT

Because you are specifically asking for a non-crypto native approach, I recommend Stability (see my bio). With their Magic integration, you don't even need to download a wallet to access. All you need is an email address. There is no native token, so no gas fees. You can deploy a smart contract or document (mint it as NFT if you want) for free, and do what you want with it. No crypto needed, no need to sponsor anyone's transactions. Try it now for free, see if it's what you're looking for Good luck!

Mentions:#NFT

#Ethereum Pro-Arguments Below is an argument written by Nostalg33k which won 2nd place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > ​ > > # Ethereum: Use-case driving value > > Ethereum is a very valuable Blockchain. This blockchain is driven by innovation and utility. To understand what makes Ethereum such a valuable eco-system we need to discuss the inner-working of Ethereum. > > # Introduction: Ethereum explained > > According to [Ethereum.org](https://Ethereum.org) : > > >What is Ethereum? > > Ethereum is a technology that's home to digital money, global payments, and applications. The community has built a booming digital economy, bold new ways for creators to earn online, and so much more. It's open to everyone, wherever you are in the world – all you need is the internet. > > So the topic driving this discussion is badly worded. If we are discussing top coins then we should discuss Ether and not Ethereum. Since Ethereum is such an interesting ecosystem I will treat this argument as a pro Ethereum post. I'd love to see the discussion focused on Ether next time. > > Ethereum is not managed by a single entity nor managed by the Ethereum Foundation but is managed through a decentralized process explained [In their governance page](https://ethereum.org/en/governance/). > > Time for some metrics: Ethereum is currently trading north of 1750 $ and has a circulating supply of 122 millions ETH for a Market cap at around 218 billions > > Let's go back to the quote: "Ethereum is a technology that's home to digital money". This point is important. Ether is not the only coin which is using the Ethereum blockchain. A lot of value on the Ethereum Blockchain is not in Ether coins. This will be discussed further down. Ethereum is also home to global payment, so Ether and other cryptocurrencies can be used to settle transactions between P2P in a permissionless way. > > Applications called Dapps exist on the blockchain. We are going to discuss all of these aspects. We are also going to tackle NFTs on the Ethereum Blockchain. > > Ethereum is also completed by L2s. These are going to be mentioned. > > Ethereum has been switched from POW to Asic resistant POW to POS. These are going to be discussed. > > ​ > > # Ethereum: Home to digital money. > > Ethereum strength is that the blockchain is home to many cryptocurrencies. If gas fees are paid in Ether, many tokens have billions circulating in the Ethereum ecosystem. A quick look at Etherscans reveal how strong the ethereum ecosystem is. > > According to [EtherScan](https://etherscan.io/tokens) the blockchain has 40 Billions $ in USDT, 46 Billions in USDC and 7 Billions $ in Wrapped BTC. The market cap of Ether may be around 200 billions but the on chain value of assets in the Ethereum Blockchain is far higher. > > All of these USDT and USDC are stablecoins which can be used for transactions. In fact, it can be used for P2P transaction in a permissionless way but also to buy stuff from businesses. [Here is a list of business accepting USDT (which exists in the Ethereum blockchain)](https://nowpayments.io/blog/businesses-accepting-tether) and [Here is a list of business accepting directly Ethereum](https://www.analyticsinsight.net/top-10-companies-accepting-ethereum-as-a-payment-method-in-2022/) > > These classical transactions are not the only use of the Ethereum Blockchain: Dapps and NFT are also thriving ! > > # Ethereum: Home to dapps and NFTs > > Ethereum is home to a lot of different applications: Marketplaces, exchanges, defi, wallets, games... > > These application are different because they are called dapps: > > >A decentralised application (DApp,\[1\] dApp,\[2\] Dapp, or dapp) is an application that can operate autonomously, typically through the use of smart contracts, that run on a decentralized computing, blockchain or other distributed ledger system.\[3\] > > [Wikipedia Dapps](https://en.wikipedia.org/wiki/Decentralized_application) > > To give a glance to these dapps you can head to this website tho be wary of the first dapp listed being an advertisement for shady businesses (I haven't found a better website to source dapps) [Here you go](https://dappradar.com/rankings/protocol/ethereum/1) > > While I don't believe in the current state of NFT technology being viable (See my write up in favor of NFT speaking about the future of this technology), we have to take into account that even after losing 60% of their value there is still 3 Billions USD in NFTs in the Ethereum Blockchain [Source](https://cointelegraph.com/news/ethereum-nft-collections-lost-nearly-60-of-their-market-cap-in-2022-report) > > # Ethereum: Layers of goodness. > > Ethereum can be a bit expensive for people, this is why it was layered. There are side chains existing just to be cheaper than Ethereum while offering bridges to and from Ethereum. For example Polygon. > > >Polygon is a Layer-2 scaling solution created to help bring mass adoption to the Ethereum platform. It caters to the diverse needs of developers by providing tools to create scalable decentralized applications (dApps) that prioritize performance, user experience (UX), and security. > > So if you want to be able to evaluate Ethereum you need to go and read about the biggest layer 2 pro and cons. > > [A small list of Ethereum layer 2 given by Ethereum.org](https://ethereum.org/en/layer-2/) > > # Ethereum: Evolve to thrive > > Ethereum has been a rapidly evolving ecosystem. It has seen the evolution of mining from GPU to Asic. In order to not become reliant on Asic mining, Ethereum was made Asic resistant. This created other problems: A pressure on the GPU market but also a concern for energy efficiency. In order to improve the footprint but also reduce the fees, Ethereum was made to transistion from POW to POS. Proof of stake is a protocol in which you need to stake coins to run a node in the network. > > This shows an ability to look ahead and to tackle challenges. > > # Conclusion: Ethereum is a rapidly evolving ecosystem which has a lot of value in it. Since Ether is their native coin, all of this impacts Ether's value. > > This is where we go back to the TOP COIN aspect of this write up. Everything I have said has an impact on the value and use of Ether. If you believe in the future of the Ethereum Blockchain, you can go ahead and look a bit more into Ether. If you don't believe in the Ethereum Blockchain then you should try to find a competitor. > > Just know that Ethereum is trying to become deflationary and that their economic outlook seems on par with good cryptos. > > Ethereum is one of the techs of the future and this essay has shown some of the most important aspects of it. > > Have fun ! ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/100p71b/top_coins_ethereum_proarguments_january_2023/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

I would say last cycle we had the L1s and NFTs bubble were every L1 was pumping and NFT collection went sold out but this time we will have a huge meme season. Anyway the btc dominance is at 55% altseason or memeseson it hasn't even started yet!

Mentions:#NFT

"pledges" by offering less than 10% back if you agree not so sue for the lions share. The NFT was only a fraction of the scam. The tokens were the fuck you

Mentions:#NFT

All my reasoning is logical for why he flipped. Most people that don't understand crypto think it's a scam, he had no incentive/time to learn about it in office, he's also looking at crypto as a threat to USD dominance which is a legitimate fear, out of office he used it to launch an NFT project, CBDC's started getting interest and him being against that makes total sense, he also just met with the executives of the largest US bitcoin miners, so you'd naturally assume he has learned a lot more about crypto now. So following that chain of events, it makes total sense that he would flip. The only thing people can do when they disagree with me is call me names... I'd hope you can do better than that and actually explain your reasoning with something other than "he lies a lot so you can't believe him" because no one ever assumed he was lying when he was against crypto in the first place, so clearly people are arbitrarily choosing when they think he's lying, rather than evaluating *any* of the context.

Mentions:#NFT

Just gonna copy-paste my prev comment: >1. People can change their minds. >2. He really had no incentive to learn about crypto and although it's unfair to label it a scam, he rightfully saw it as a threat to the US dollar. >3. He's now incentivized to take a position as it's become a bigger issue during an election year. >4. The anti-CBDC angle is completely legit and congruent with something he'd believe. >5. He's firsthand seen the benefits of crypto because of his NFT project and accepting BTC donations for his campaign. >6. He made this statement after meeting with multiple executives from the largest BTC miners in the US.

Mentions:#NFT#BTC

#Polygon Pro-Arguments Below is a Polygon pro-argument written by Chysce. > Polygon is a blockchain built on top of ethereum and it addresses the well-known [scalability issue](https://education.district0x.io/general-topics/ethereum-scaling/introduction-to-ethereum-scaling/) of Ethereum. Polygon is also EVM (Ethereum Virtual Machine) compatible which allows them to benefit from Ethereum's security. > > **>> Layer 2 solution - zkEVM Rollup** > > By using Layer 2 technology, Polygon enables faster and cheaper transactions compared to the Ethereum blockchain. This makes it a more practical choice for everyday transactions. The fact that zkEVM is EVM compatible allows seamless migration of Ethereum dApps to Polygon without the need for any code rewriting. > > **>> Partnerships and ecosystem** > > Polygon shines in terms of partnerships with both web 2 and web 3 companies and a number of NFT collections. Impressive list of partnerships can be found [here](https://www.blockchain-council.org/blockchain/polygon-technology-top-10-partnerships-depicting-the-rise-of-layer-2-ethereum-scaling-solution/) (Adidas, Starbucks, Meta, Reddit, Hamilton Lane, Magic Eden etc.). > > Polygon has an aggressive business development model. They have successfully brought in all types of web 3 participants into one [ecosystem](https://polygon.technology/ecosystem). > > **>> Current usage** > > * In terms of daily transactions [polygon (3 million)](https://polygonscan.com/chart/tx)has overtaken [ethereum (1 million)](https://etherscan.io/chart/tx). > * In terms of NFT Sales on Polygon is at a [3rd place](https://chainparrot.com/nft-trade-volume-by-chain-24s.html) just behind Ethereum and Solana. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Polygon) to find submissions for other topics.

Mentions:#NFT

#Bitcoin Pro-Arguments Below is an argument written by a deleted user which won 1st place in the Bitcoin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > **First-Mover Advantage and The Network Effect** > > Bitcoin is currently the most popular cryptocurrency and market cap leader by a long shot. The [Bitcoin dominance chart](https://www.coingecko.com/en/global-charts) shows that Bitcoin represents 60% of the entire cryptocurrency market cap. This has increased from 40% in 2020. > > Bitcoin is the **gateway**. People start out with Bitcoin before checking out other cryptocurrencies. They're likely going to keep holding any Bitcoin they bought along the way. > > People will flock to whichever product has the largest user base. For half a decade, Bitcoin was almost synonymous with cryptocurrency. The Network Effect creates a **positive feedback loop** and makes Bitcoin's lead grow even more. > > If Bitcoin, Bitcoin Cash, and Litecoin were all released simultaneously, Bitcoin would lose to its PoW competitors because its competitors have cheaper fees with higher throughput. But the reality is that Bitcoin's first-mover advantage gave it such a huge head start that the others can't catch up. > > **Has the largest block reward for security** > > Due to its high price, Bitcoin has a huge [block reward of 6.5 BTC](https://www.coingecko.com/en/coins/bitcoin/bitcoin-halving) (halves every 4 years) or ~$180k per block. This gives it the security lead because its block reward is so much bigger than other PoW cryptocurrencies, which attracts more miners. > > **Anti-censorship** > > Bitcoin provides partial censorship-resistance against sanctions and totalitarian government restrictions. It's much harder to prevent Bitcoin transactions than it is to prevent financial transactions at a centralized bank. [Legal sex workers](https://www.theverge.com/2021/8/24/22639356/onlyfans-ceo-tim-stokely-sexually-explicit-content-ban-banks) (e.g. Onlyfans) and [marijuana industries](https://www.leadingretirement.com/blog/cannabis-banking) are blocked from using traditional financial services due to social stigma. Even though they can operate legally, many TradFi banks avoid operating with them. Bitcoin provides those workers a way to transfer funds around that censorship. > > **Avoids Hyperinflation**: As long as governments keep causing high inflation through money-printing, people will run to Bitcoin for safety, which pumps up Bitcoin's price. > > **Considered a commodity by both SEC and CFTC**: Bitcoin is the only cryptocurrency that both the SEC and CFTC have openly agreed is a commodity. And the CFTC is much less lawsuit-happy than the SEC. > > **Legal tender**: El Salvador has shown (despite some technical mishaps) that Bitcoin can be successfully used as legal tender for a country. > > **Ordinals provide utility** > > Even though Bitcoin Maxis hate Ordinals, this new protocol gives utility to Bitcoin and adds demand. NFT bros are using it as an **on-chain data storage layer** for their own blockchains (e.g. Ethereum, Stack). This has an advantage over IPFS since IPFS is stored in centralized databases instead of on-chain. > > This generates more fees for Bitcoin miners. Transaction fees have finally [risen to ~20 sats/vByte](https://mempool.space/graphs/mempool) on days with high Ordinals activity like Mar 22-24. This gives hope that there may be sufficient demand for Bitcoin as an on-chain data-storage layer even after the block subsidy eventually disappears due to halvings. > > **Pseudonymous**: Bitcoin's UTXO transactions can provide moderately-high levels of obscurity. A single wallet can produce a near-unlimited amount of addresses, and there's no way to link them unless they interact with each other. It's much harder to trace UTXO-based wallets than Account-based wallets because the former creates new UTXO addresses with each transaction while Account-based blockchain wallets typically reuse the same account. > > **Lightning transactions are near-instant and cheap** > > As long as you're spending small amounts of Bitcoin, you can use the Lightning network to make near-instant, sub-$0.01 transactions. Many Lightning nodes for merchants are connected to 3rd-party services that convert between cash and Lightning, making it easy to transfer Bitcoins. Consumers usually don't have to care about rebalancing issues since they're only spending small amounts. > > And the [total capacity of the Lightning Network](https://bitcoinvisuals.com/ln-capacity) in BTC keeps increasing steadily. > > **Cannot be counterfeited**: Cash can be counterfeited, but you can't fake Lightning transactions. Merchants have to deal with counterfeit cash in many markets around the world. > > **Bitcoin has a very strong community of die-hard supporters** > > A huge portion of Bitcoin supporters have become Bitcoin Maxis who will keep spreading their arguments, regardless of accuracy. Because Bitcoin is a gateway cryptocurrency, crypto newbies will encounter it first and gobble up these narratives because they don't have the experience to know their flaws. And they're very convincing when you keep repeating them in an echo chamber: > > * Maximum supply cap of 21M BTC vs Fed's money printer > * Amazing past-performance gains vs fiat > * Works as Store of Value (despite volatility) > * Had a "fair launch" without an ICO > * Is not a risky altcoin > * Is decentralized (based on largest number of miners) > * Has instant payments via the Lightning Network > > **Ultimately, people are mainly using crypto for speculative investing and long-term Store of Value. Most people don't care about technology, Defi, or utility. Thus Bitcoin is sufficient for their investment needs.** > > And since cryptocurrency value is largely based on a Keynesian Beauty Contest (i.e. you buy not based on your own value, but on what you think others are going to buy), people are going to keep buying Bitcoin as long as the investment narrative holds. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/100p7vq/top_coins_bitcoin_proarguments_january_2023/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin) to find arguments on this topic in other rounds.

Mentions:#BTC#SEC#NFT

According to the article linked in the OP: 1) Trump is the first presidential candidate to accept cryptocurrency donations in 2023 (I can confirm his website even accepts ZRX of all things) 2) He's held meetings with bitcoin mining companies 3) Don Jr hosted a twitter space last week on how NFT's are utilized by the campaign These are actual actionable events that took place that demonstrate he is in fact embracing bitcoin. Not just hot air. Let me put this another way, and it would be wonderful if you gave a realistic, practical and actionable answer: What could Trump do that would demonstrate to you that he has embraced cryptocurrency? (Notice I didn't ask what NOT to do, btw)

1. People can change their minds. 2. He really had no incentive to learn about crypto and although it's unfair to label it a scam, he rightfully saw it as a threat to the US dollar. 3. He's now incentivized to take a position as it's become a bigger issue during an election year. 4. The anti-CBDC angle is completely legit and congruent with something he'd believe. 5. He's firsthand seen the benefits of crypto because of his NFT project and accepting BTC donations for his campaign. 6. He made this statement after meeting with multiple executives from the largest BTC miners in the US. If I had to guess if he genuinely hates crypto or supports it, I don't see how you could lean towards him hating it, but I'd like to hear if you disagree. FYI I hate Trump, never voted for him and never will, just trying to be objective.

Mentions:#NFT#BTC

Butthurt? Seriously? Do you seriously think that Trump has any understanding of what crypto is? The guy who said we should look into injecting bleach to cure covid? And at any rate, crypto is in no what whatsoever a voting issue. The reasons why I am voting against Trump fill a book. And none of them have the words crypto or bitcoin or ethereum or NFT in them.

Mentions:#NFT

It's a commitment to grifting. Frankly I'd rather he'd stfu about it because him associating himself with NFTs etc just serves to expose the dark, scammier side of it all, because that's the only reason he'd be doing it. If you think him putting an NFT collection out shows he's committed to crypto, I have a bridge to sell you.

Mentions:#NFT

Trump cannot even spell NFT much less tell you what it is or how it relates to Ethereum or what Ethereum is.

Mentions:#NFT

1) I guarantee you Trump had nothing to do with this beyond somebody telling him it's an easy way to make quick cash 2) It isn't shocking team Trump jumped on an opportunity to grift some quick cash 3) Just because somebody is open to jumping on the NFT bandwagon to make some quick cash does not give any indication of their commitment to cryptocurrency

Mentions:#NFT

I mean trump has his own NFT's on Ethereum, that's more than Biden can say he has done..

Mentions:#NFT

#Bitcoin Pro-Arguments Below is an argument written by a deleted user which won 1st place in the Bitcoin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > **First-Mover Advantage and The Network Effect** > > Bitcoin is currently the most popular cryptocurrency and market cap leader by a long shot. The [Bitcoin dominance chart](https://www.coingecko.com/en/global-charts) shows that Bitcoin represents 60% of the entire cryptocurrency market cap. This has increased from 40% in 2020. > > Bitcoin is the **gateway**. People start out with Bitcoin before checking out other cryptocurrencies. They're likely going to keep holding any Bitcoin they bought along the way. > > People will flock to whichever product has the largest user base. For half a decade, Bitcoin was almost synonymous with cryptocurrency. The Network Effect creates a **positive feedback loop** and makes Bitcoin's lead grow even more. > > If Bitcoin, Bitcoin Cash, and Litecoin were all released simultaneously, Bitcoin would lose to its PoW competitors because its competitors have cheaper fees with higher throughput. But the reality is that Bitcoin's first-mover advantage gave it such a huge head start that the others can't catch up. > > **Has the largest block reward for security** > > Due to its high price, Bitcoin has a huge [block reward of 6.5 BTC](https://www.coingecko.com/en/coins/bitcoin/bitcoin-halving) (halves every 4 years) or ~$180k per block. This gives it the security lead because its block reward is so much bigger than other PoW cryptocurrencies, which attracts more miners. > > **Anti-censorship** > > Bitcoin provides partial censorship-resistance against sanctions and totalitarian government restrictions. It's much harder to prevent Bitcoin transactions than it is to prevent financial transactions at a centralized bank. [Legal sex workers](https://www.theverge.com/2021/8/24/22639356/onlyfans-ceo-tim-stokely-sexually-explicit-content-ban-banks) (e.g. Onlyfans) and [marijuana industries](https://www.leadingretirement.com/blog/cannabis-banking) are blocked from using traditional financial services due to social stigma. Even though they can operate legally, many TradFi banks avoid operating with them. Bitcoin provides those workers a way to transfer funds around that censorship. > > **Avoids Hyperinflation**: As long as governments keep causing high inflation through money-printing, people will run to Bitcoin for safety, which pumps up Bitcoin's price. > > **Considered a commodity by both SEC and CFTC**: Bitcoin is the only cryptocurrency that both the SEC and CFTC have openly agreed is a commodity. And the CFTC is much less lawsuit-happy than the SEC. > > **Legal tender**: El Salvador has shown (despite some technical mishaps) that Bitcoin can be successfully used as legal tender for a country. > > **Ordinals provide utility** > > Even though Bitcoin Maxis hate Ordinals, this new protocol gives utility to Bitcoin and adds demand. NFT bros are using it as an **on-chain data storage layer** for their own blockchains (e.g. Ethereum, Stack). This has an advantage over IPFS since IPFS is stored in centralized databases instead of on-chain. > > This generates more fees for Bitcoin miners. Transaction fees have finally [risen to ~20 sats/vByte](https://mempool.space/graphs/mempool) on days with high Ordinals activity like Mar 22-24. This gives hope that there may be sufficient demand for Bitcoin as an on-chain data-storage layer even after the block subsidy eventually disappears due to halvings. > > **Pseudonymous**: Bitcoin's UTXO transactions can provide moderately-high levels of obscurity. A single wallet can produce a near-unlimited amount of addresses, and there's no way to link them unless they interact with each other. It's much harder to trace UTXO-based wallets than Account-based wallets because the former creates new UTXO addresses with each transaction while Account-based blockchain wallets typically reuse the same account. > > **Lightning transactions are near-instant and cheap** > > As long as you're spending small amounts of Bitcoin, you can use the Lightning network to make near-instant, sub-$0.01 transactions. Many Lightning nodes for merchants are connected to 3rd-party services that convert between cash and Lightning, making it easy to transfer Bitcoins. Consumers usually don't have to care about rebalancing issues since they're only spending small amounts. > > And the [total capacity of the Lightning Network](https://bitcoinvisuals.com/ln-capacity) in BTC keeps increasing steadily. > > **Cannot be counterfeited**: Cash can be counterfeited, but you can't fake Lightning transactions. Merchants have to deal with counterfeit cash in many markets around the world. > > **Bitcoin has a very strong community of die-hard supporters** > > A huge portion of Bitcoin supporters have become Bitcoin Maxis who will keep spreading their arguments, regardless of accuracy. Because Bitcoin is a gateway cryptocurrency, crypto newbies will encounter it first and gobble up these narratives because they don't have the experience to know their flaws. And they're very convincing when you keep repeating them in an echo chamber: > > * Maximum supply cap of 21M BTC vs Fed's money printer > * Amazing past-performance gains vs fiat > * Works as Store of Value (despite volatility) > * Had a "fair launch" without an ICO > * Is not a risky altcoin > * Is decentralized (based on largest number of miners) > * Has instant payments via the Lightning Network > > **Ultimately, people are mainly using crypto for speculative investing and long-term Store of Value. Most people don't care about technology, Defi, or utility. Thus Bitcoin is sufficient for their investment needs.** > > And since cryptocurrency value is largely based on a Keynesian Beauty Contest (i.e. you buy not based on your own value, but on what you think others are going to buy), people are going to keep buying Bitcoin as long as the investment narrative holds. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/100p7vq/top_coins_bitcoin_proarguments_january_2023/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin) to find arguments on this topic in other rounds.

Mentions:#BTC#SEC#NFT

#Ethereum Pro-Arguments Below is an argument written by Nostalg33k which won 2nd place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > ​ > > # Ethereum: Use-case driving value > > Ethereum is a very valuable Blockchain. This blockchain is driven by innovation and utility. To understand what makes Ethereum such a valuable eco-system we need to discuss the inner-working of Ethereum. > > # Introduction: Ethereum explained > > According to [Ethereum.org](https://Ethereum.org) : > > >What is Ethereum? > > Ethereum is a technology that's home to digital money, global payments, and applications. The community has built a booming digital economy, bold new ways for creators to earn online, and so much more. It's open to everyone, wherever you are in the world – all you need is the internet. > > So the topic driving this discussion is badly worded. If we are discussing top coins then we should discuss Ether and not Ethereum. Since Ethereum is such an interesting ecosystem I will treat this argument as a pro Ethereum post. I'd love to see the discussion focused on Ether next time. > > Ethereum is not managed by a single entity nor managed by the Ethereum Foundation but is managed through a decentralized process explained [In their governance page](https://ethereum.org/en/governance/). > > Time for some metrics: Ethereum is currently trading north of 1750 $ and has a circulating supply of 122 millions ETH for a Market cap at around 218 billions > > Let's go back to the quote: "Ethereum is a technology that's home to digital money". This point is important. Ether is not the only coin which is using the Ethereum blockchain. A lot of value on the Ethereum Blockchain is not in Ether coins. This will be discussed further down. Ethereum is also home to global payment, so Ether and other cryptocurrencies can be used to settle transactions between P2P in a permissionless way. > > Applications called Dapps exist on the blockchain. We are going to discuss all of these aspects. We are also going to tackle NFTs on the Ethereum Blockchain. > > Ethereum is also completed by L2s. These are going to be mentioned. > > Ethereum has been switched from POW to Asic resistant POW to POS. These are going to be discussed. > > ​ > > # Ethereum: Home to digital money. > > Ethereum strength is that the blockchain is home to many cryptocurrencies. If gas fees are paid in Ether, many tokens have billions circulating in the Ethereum ecosystem. A quick look at Etherscans reveal how strong the ethereum ecosystem is. > > According to [EtherScan](https://etherscan.io/tokens) the blockchain has 40 Billions $ in USDT, 46 Billions in USDC and 7 Billions $ in Wrapped BTC. The market cap of Ether may be around 200 billions but the on chain value of assets in the Ethereum Blockchain is far higher. > > All of these USDT and USDC are stablecoins which can be used for transactions. In fact, it can be used for P2P transaction in a permissionless way but also to buy stuff from businesses. [Here is a list of business accepting USDT (which exists in the Ethereum blockchain)](https://nowpayments.io/blog/businesses-accepting-tether) and [Here is a list of business accepting directly Ethereum](https://www.analyticsinsight.net/top-10-companies-accepting-ethereum-as-a-payment-method-in-2022/) > > These classical transactions are not the only use of the Ethereum Blockchain: Dapps and NFT are also thriving ! > > # Ethereum: Home to dapps and NFTs > > Ethereum is home to a lot of different applications: Marketplaces, exchanges, defi, wallets, games... > > These application are different because they are called dapps: > > >A decentralised application (DApp,\[1\] dApp,\[2\] Dapp, or dapp) is an application that can operate autonomously, typically through the use of smart contracts, that run on a decentralized computing, blockchain or other distributed ledger system.\[3\] > > [Wikipedia Dapps](https://en.wikipedia.org/wiki/Decentralized_application) > > To give a glance to these dapps you can head to this website tho be wary of the first dapp listed being an advertisement for shady businesses (I haven't found a better website to source dapps) [Here you go](https://dappradar.com/rankings/protocol/ethereum/1) > > While I don't believe in the current state of NFT technology being viable (See my write up in favor of NFT speaking about the future of this technology), we have to take into account that even after losing 60% of their value there is still 3 Billions USD in NFTs in the Ethereum Blockchain [Source](https://cointelegraph.com/news/ethereum-nft-collections-lost-nearly-60-of-their-market-cap-in-2022-report) > > # Ethereum: Layers of goodness. > > Ethereum can be a bit expensive for people, this is why it was layered. There are side chains existing just to be cheaper than Ethereum while offering bridges to and from Ethereum. For example Polygon. > > >Polygon is a Layer-2 scaling solution created to help bring mass adoption to the Ethereum platform. It caters to the diverse needs of developers by providing tools to create scalable decentralized applications (dApps) that prioritize performance, user experience (UX), and security. > > So if you want to be able to evaluate Ethereum you need to go and read about the biggest layer 2 pro and cons. > > [A small list of Ethereum layer 2 given by Ethereum.org](https://ethereum.org/en/layer-2/) > > # Ethereum: Evolve to thrive > > Ethereum has been a rapidly evolving ecosystem. It has seen the evolution of mining from GPU to Asic. In order to not become reliant on Asic mining, Ethereum was made Asic resistant. This created other problems: A pressure on the GPU market but also a concern for energy efficiency. In order to improve the footprint but also reduce the fees, Ethereum was made to transistion from POW to POS. Proof of stake is a protocol in which you need to stake coins to run a node in the network. > > This shows an ability to look ahead and to tackle challenges. > > # Conclusion: Ethereum is a rapidly evolving ecosystem which has a lot of value in it. Since Ether is their native coin, all of this impacts Ether's value. > > This is where we go back to the TOP COIN aspect of this write up. Everything I have said has an impact on the value and use of Ether. If you believe in the future of the Ethereum Blockchain, you can go ahead and look a bit more into Ether. If you don't believe in the Ethereum Blockchain then you should try to find a competitor. > > Just know that Ethereum is trying to become deflationary and that their economic outlook seems on par with good cryptos. > > Ethereum is one of the techs of the future and this essay has shown some of the most important aspects of it. > > Have fun ! ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/100p71b/top_coins_ethereum_proarguments_january_2023/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

#Polygon Con-Arguments Below is a Polygon con-argument written by a deleted user. > ####**Has plenty of competitors, including itself** > > Currently, Polygon PoS is competing against optimistic L2 blockchains like Arbitrum One and Optimism. Arbitrum has nearly [2x the TVL as Polygon](https://defillama.com/chains), and Optimism has almost caught up. > > Polygon's future zkEVM rollup is also competing against other zkEVM rollups. Once its zkEVM is released, it's possible it's going to split the Polygon community between those who want to stay on the sidechain and those who want to use the zkEVM. **If you look at their [zkEVM testnet](https://explorer.public.zkevm-test.net/txs?block_number=143530&index=0&page_number=1&page_size=50&pages_limit=200), fees are paid in Ether, not MATIC.** That's bearish for MATIC token utility. > > **TVL has dropped considerably compared to L2s** > > One year ago back in Jan 2022, [Polygon TVL was $4.8B USD](https://defillama.com/chain/Polygon) while the combined [Layer 2 rollup TVL was $5.4B USD](https://l2beat.com/scaling/tvl). While L2 TVL has increased a little despite the bear market, Polygon's TVL has collapsed by 75% to $1.2B. > > **Growing dApp competition from L2 rollups** > > A year ago, Polygon PoS was unique in that it was the only network besides Ethereum that had OpenSea support. Now OpenSea supports a dozen different networks, including competing Layer 2 rollups networks like Optimism, Arbitrum One, and even Arbitrum Nova. So there's a lot more competition. > > **Declining social media support** > > With L2 rollups developing so quickly, many in the Ethereum community have turned against Polygon, creating a narrative that it's "just a sidechain", not a true Layer 2. > > The 0xPolygon subreddit has become more of a ghost town with noticeable amounts of spam posts. I don't think its mods are checking regularly anymore. > > ####**Less resistant to DDoS attacks and spam** > > Like all networks with low transaction fees, it's at risk of DDoS attacks. > > In early Jan 2022, [Sunflowers Farm \(SFF\) unintentionally DDoS-attacked the Polygon PoS network](https://www.coindesk.com/tech/2022/01/06/polygon-under-accidental-attack-from-swarm-of-sunflower-farmers/) and completely congested the network because it was more profitable to play the game and spam transactions than pay network fees. Transaction fees shot up 20x. Eventually, a hacker exploited the SFF game and reduced its price to zero, and users rejoiced because it cleared the congestion. > > **It has a Gas Cartel** > > Spam attacks were eventually mitigated when the whole Polygon validator community chose to [lock priority fees at a 30 Gwei minimum](https://cryptoslate.com/polygon-matic-to-raise-gas-fee-to-30-gwei-to-prevent-spam-transactions/). That's not an offical part of protocol. Polygon validators have colluded off-chain and are running **gas cartel**, like OPEC. > > However, it still gets tons of spam transactions, which I have experienced first-hand many times. All my Polygon accounts with activity on them were randomly sent spam tokens and NFTs. Many of these tokens are part of scam that try to trick you into interacting with them by selling them. Other are advertising sketchy website links. > > This is the downside of having sub-penny transactions. > > ####**Still requires the Ethereum network** > > The Polygon PoS network is a side chain for Ethereum. Many parts of Polygon still require Ethereum and pay fees in ETH instead of MATIC. OpenSea's NFT are usually quoted in ETH instead of MATIC. The MATIC token its originates on Ethereum and is bridged over to Polygon PoS as an ERC-20 token. Staking is also done on the Ethereum mainnet. The periodic Polygon checkpoints require paying Ethereum fees too. > > Thus Polygon's success depends on Ethereum's success and security. > > Going from Layer 1 Ethereum to Polygon is mainly done through the Polygon PoS bridge, which costs Ethereum gas fees. The first time bridging over to Polygon can be stressful. Their documentation says it should only take [22-30 minutes](https://wiki.polygon.technology/docs/develop/ethereum-polygon/getting-started/) when it often takes many hours as many people including me have found out the hard way. > > ####**Numerous reorgs** > > Polygon has [multiple reorgs every day](https://polygonscan.com/blocks_forked). Many of these are of 10+ depths, which is dangerously high. Due to reorgs, transactions up to 32 blocks ago can be completely reversed. In fact, up until the Delhi update (Jan 17, 2023), it was common to see reorgs up to 128-blocks ago (5 minutes). After the update, this has been reduced to a max of 32 blocks (1 minute). That's better than before the update, but it's still a lot. The reason behind this unique and dangerous Polygon phenomenon is due to the validator sprints that it uses on the Bor block production layer. [I wrote a separate article to explain this phenomenon](https://mplankton.substack.com/p/polygons-block-reorg-problem). > > Even after the Delhi update, there was still a massive [153-block reorg in Feb 2023](https://www.coindesk.com/tech/2023/02/22/polygon-blockchain-suffers-apparent-outage/) and multiple-validator outage caused by an unrelated bug. > > ####**Centralization concerns** > > **Pausable tokens** > > The [MATIC token contract](https://etherscan.io/token/0x7d1afa7b718fb893db30a3abc0cfc608aacfebb0#code) is pausable. There is a private list of addresses (stored in the "_pausers" private role) that can unilaterally pause the entire MATIC token without needing any other members to approve. > > **Centralized control of Polygon contracts on Ethereum mainnet via its Multisig owner account** > > At any given time, Polygon can update its contracts using this Multisig Gnosis Safe, and it has already done so **40 times in the past year** and 170 times in the past 2 years. That's a lot of unannounced updates. > > It does this through a [5 out of 9 Multisig Gnosis Safe](https://etherscan.io/address/0xfa7d2a996ac6350f4b56c043112da0366a59b74c) (often misquoted as an 5 out of 8 Multisig) that controls all of Polygon's contracts on Ethereum (e.g. Plasma Bridge, PoS Bridge, Staking Contract, Governance Proxy, Ether Bridge, Root Chain Proxy, Polygon-to-Ethereum token mapping, and many other contracts). 4 of these owners are Polygon members, 4 are external DeFi users, and 1 is an unknown account (possibly the owner of Quickswap). > > **[My own investigation](https://mplankton.substack.com/p/investigating-the-59-polygon-multisig) discovered that this MultiSig account is one of the worst-documented parts of Polygon**: > > * Every media site, blog, and forum to this day still thinks it's an 5/8 Multisig based on an old letter back in May 2021. The fact that no one has mentioned the 9th owner (added 2 years ago) is a strong sign the public isn't actually auditing the Polygon admin actions on that Multisig contract. > * A 9th owner was added back [in June 2021](https://etherscan.io/tx/0xb02b91300e3cea5bb788513cd858f27f27410b3bc67b8e12dca10944b4d611c8) **unannounced**. An additional 2 Polygon owners were swapped in the past year **unannounced**. > * [Back in Aug 2021](https://etherscan.io/tx/0x9eca1e21c66d7a30bfb69dedb0857314cf7ed127d149328d518678f7e22fbdb9), ownership of all Polygon's contracts were replaced by a [TimeLock contract](https://etherscan.io/address/0xCaf0aa768A3AE1297DF20072419Db8Bb8b5C8cEf). This Timelock provides an acceptance window where any action on Polygon's contracts has to wait 48 hours before it takes effect. The Timelock is in turn controlled by the 5/9 Gnosis Safe account. > * Polygon's websites, forums, Discord channel, and subreddit don't mention the Timelock. > * **Even Polygon's own documentation team is unaware of the Timelock.** There is [one document that mentions the Multisig address](https://wiki.polygon.technology/docs/faq/commit-chain-multisigs/) suggests that a Timelock is a future update, when it's actually already active. > > ####**Upgrade process is centralized** > > Polygon Labs controls the upgrade process through centralized governance. > > Back in Dec 2021, the Polygon team [secretly hard-forked the network](https://cryptobriefing.com/a-hacker-stole-1-6m-after-exploiting-a-polygon-bug/) by pushing out a patch 1 day after a hacker stole $1.6M from the network from the Polygon PoS genesis contract in Dec 2021. The team didn't publicize the reason for the emergency patch until over 3 weeks later. > > In Jan 2023, the **Delhi Hardfork, PIP-7**, was voted on by only [15 out of 100 non-dev validators](https://forum.polygon.technology/t/pre-pip-discussion-addressing-reorgs-and-gas-spikes/10623). The vote was only used as non-binding feedback, so Polygon Lab devs still maintained real control over the upgrade. > > In Feb 2023, there was a client bug that caused [a multi-validator outage and 153-block reorg](https://www.coindesk.com/tech/2023/02/22/polygon-blockchain-suffers-apparent-outage/). Due to the outage and slow syncing where many out-of-sync validators were taking up to a day to resync, many of them were missing their 98% checkpoint SLA requirements for staying on as a validator. As a result, the Polygon team pushed **an emergency proposal, PIP-9**, to reduce the threshold back to 95%. In less than half a day, it passed and was activated. Even over 4 days, only 27 out of 100 validators had voted on it. > > **Future decentralized governance** > > It's been over a year since Polygon posted they were looking into [Governance Decentralization](https://blog.polygon.technology/state-of-governance-decentralization/). It wasn't until only Feb 2023 that they started the first steps towards decentralized governance via [PIP-1](https://forum.pol... ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Polygon) to find submissions for other topics.

#Polygon Pro-Arguments Below is a Polygon pro-argument written by Shippior. > [Polygon](https://polygon.technology/)(Ticker: [MATIC](https://www.coingecko.com/en/coins/polygon)) is an Ethereum Virtual Machine ([EVM](https://ethereum.org/en/developers/docs/evm/)). It is a sidechain from Ethereum for the solving the scaling problem that Ethereum has by offering faster and more cheap transactions by offering transaction to settle on the Polygon chain and to be later settled on the Ethereum chain. It was created in 2017 by an Indian based team as the Matic network and was later rebranded to Polygon. > > Polygon has a maximum supply of 10 billion tokens. The [total breakdown](https://www.coinbase.com/institutional/research-insights/research/tokenomics-review/polygon-matic-scaling-solutions#:~:text=Polygon's%20token%20MATIC%20is%20primarily,validator%20nodes%20to%20earn%20rewards.) of this supply is 19% Initial exchange offering, 16% to the team, 4% to advisors, 12% to staking rewards, 21.86% to the foundation and 23.33% for future investments in the ecosystem. This shows that there is a lot of funds available for development of the blockchain. This is also seen in the number of developers that chose to work on Polygon. The number of developers working on Polygon has grown to over 1100, which is 16x more than in [2018](https://twitter.com/theweb3sharma/status/1615592481047080961). > > Contrary to other blockchains, polygon is not just one blockchain but a number of blockchains under one hood, each of them focused on a different application. This allows Polygon to compete on several (almost all markets at the same time). It has prominent applications for DeFi, NFTs and [web3 gaming](https://techcrunch.com/2023/03/20/polygon-and-immutable-partner-to-help-onboard-more-gamers-and-developers-into-web3/). For instance it is at the moment a [very populair chain for NFTs] > (https://ambcrypto.com/polygons-nft-space-is-booming-as-trade-count-surges-thanks-to/) and many projects from other chains want to migrate to Polygon. At the moment it has roughly the same volume as [Solana, but both are still dwarfed by the NFT volume of ETH.]( > https://dune.com/rchen8/opensea) > > The most well-known DEXs on the Polygon chain are [Uniswap](https://app.uniswap.org/#/swap), [Quickswap](https://quickswap.exchange/#/) and [1Inch](https://app.1inch.io/#/137/simple/swap/MATIC/DAI). These are all very high profile DEXs. Because Polygon is based on Solidity, just like Ethereum, it is easy to implement it on a DEX that was originally built for Ethereum. This also helps the Polygon chain in general as contract or updates that are developped for Ethereum can be implemented with very little effort. Even if that was a problem, Polygon has currently the fastest growing [number of developers](https://dailyhodl.com/2023/01/19/polygon-cosmos-and-two-ethereum-rivals-have-surged-over-400-in-one-metric-says-crypto-firm/#:~:text=According%20to%20the%20report%2C%20Polygon,2%2C000%20and%20Solana%20about%202%2C250.). > > > Polygon has impressed several multinationals to host their web3 introductions. Starbucks has hosted their rewards program called [Starbucks Odyssey program](https://odyssey.starbucks.com/) on the chain. Reddit has chosen Polygon chain to host their [Avatar NFTs](https://decrypt.co/112783/reddit-nfts-surge-as-polygon-based-avatars-reach-millions-of-new-users) which has seen a large influx of new wallets for MATIC. > > Due to all the hype for MATIC it continues to grow. More than [11 million active wallets](https://polygon.technology/blog/polygon-insights-for-2022) were present in Q4 2022, an increase of 115% compared to Q4 2021. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Polygon) to find submissions for other topics.

Beercoin introduces several innovative features and strategies that set it apart in the meme coin space. Firstly, it operates on the Solana blockchain, known for its high throughput and low transaction fees, providing a more efficient and scalable platform compared to some other networks. Additionally, Beercoin has implemented a unique ecosystem that includes initiatives like the recent NFT retrodrop, offering digital collectibles tied to its brand. This move not only enhances its community engagement but also adds tangible value beyond just the coin itself. These innovative approaches, combined with its growing market cap and trading volumes, suggest that Beercoin is more than just another meme coin. It's positioning itself as a dynamic and promising project within the crypto space.

Mentions:#NFT

I get where you're coming from, but I believe Beercoin is still in its early stages and has a lot of potential ahead. We've seen a significant surge recently, which is a testament to its growing popularity and strong community backing. While it's important to stay cautious and realistic, the developments around Beercoin, like the recent NFT retrodrop and the listing on BitPanda, show that there's more to come. Every Coin goes through various phases, but with Beercoin’s innovative approach and active engagement, it feels like we're just getting started...

Mentions:#NFT

#Bitcoin Pro-Arguments Below is an argument written by a deleted user which won 1st place in the Bitcoin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > **First-Mover Advantage and The Network Effect** > > Bitcoin is currently the most popular cryptocurrency and market cap leader by a long shot. The [Bitcoin dominance chart](https://www.coingecko.com/en/global-charts) shows that Bitcoin represents 60% of the entire cryptocurrency market cap. This has increased from 40% in 2020. > > Bitcoin is the **gateway**. People start out with Bitcoin before checking out other cryptocurrencies. They're likely going to keep holding any Bitcoin they bought along the way. > > People will flock to whichever product has the largest user base. For half a decade, Bitcoin was almost synonymous with cryptocurrency. The Network Effect creates a **positive feedback loop** and makes Bitcoin's lead grow even more. > > If Bitcoin, Bitcoin Cash, and Litecoin were all released simultaneously, Bitcoin would lose to its PoW competitors because its competitors have cheaper fees with higher throughput. But the reality is that Bitcoin's first-mover advantage gave it such a huge head start that the others can't catch up. > > **Has the largest block reward for security** > > Due to its high price, Bitcoin has a huge [block reward of 6.5 BTC](https://www.coingecko.com/en/coins/bitcoin/bitcoin-halving) (halves every 4 years) or ~$180k per block. This gives it the security lead because its block reward is so much bigger than other PoW cryptocurrencies, which attracts more miners. > > **Anti-censorship** > > Bitcoin provides partial censorship-resistance against sanctions and totalitarian government restrictions. It's much harder to prevent Bitcoin transactions than it is to prevent financial transactions at a centralized bank. [Legal sex workers](https://www.theverge.com/2021/8/24/22639356/onlyfans-ceo-tim-stokely-sexually-explicit-content-ban-banks) (e.g. Onlyfans) and [marijuana industries](https://www.leadingretirement.com/blog/cannabis-banking) are blocked from using traditional financial services due to social stigma. Even though they can operate legally, many TradFi banks avoid operating with them. Bitcoin provides those workers a way to transfer funds around that censorship. > > **Avoids Hyperinflation**: As long as governments keep causing high inflation through money-printing, people will run to Bitcoin for safety, which pumps up Bitcoin's price. > > **Considered a commodity by both SEC and CFTC**: Bitcoin is the only cryptocurrency that both the SEC and CFTC have openly agreed is a commodity. And the CFTC is much less lawsuit-happy than the SEC. > > **Legal tender**: El Salvador has shown (despite some technical mishaps) that Bitcoin can be successfully used as legal tender for a country. > > **Ordinals provide utility** > > Even though Bitcoin Maxis hate Ordinals, this new protocol gives utility to Bitcoin and adds demand. NFT bros are using it as an **on-chain data storage layer** for their own blockchains (e.g. Ethereum, Stack). This has an advantage over IPFS since IPFS is stored in centralized databases instead of on-chain. > > This generates more fees for Bitcoin miners. Transaction fees have finally [risen to ~20 sats/vByte](https://mempool.space/graphs/mempool) on days with high Ordinals activity like Mar 22-24. This gives hope that there may be sufficient demand for Bitcoin as an on-chain data-storage layer even after the block subsidy eventually disappears due to halvings. > > **Pseudonymous**: Bitcoin's UTXO transactions can provide moderately-high levels of obscurity. A single wallet can produce a near-unlimited amount of addresses, and there's no way to link them unless they interact with each other. It's much harder to trace UTXO-based wallets than Account-based wallets because the former creates new UTXO addresses with each transaction while Account-based blockchain wallets typically reuse the same account. > > **Lightning transactions are near-instant and cheap** > > As long as you're spending small amounts of Bitcoin, you can use the Lightning network to make near-instant, sub-$0.01 transactions. Many Lightning nodes for merchants are connected to 3rd-party services that convert between cash and Lightning, making it easy to transfer Bitcoins. Consumers usually don't have to care about rebalancing issues since they're only spending small amounts. > > And the [total capacity of the Lightning Network](https://bitcoinvisuals.com/ln-capacity) in BTC keeps increasing steadily. > > **Cannot be counterfeited**: Cash can be counterfeited, but you can't fake Lightning transactions. Merchants have to deal with counterfeit cash in many markets around the world. > > **Bitcoin has a very strong community of die-hard supporters** > > A huge portion of Bitcoin supporters have become Bitcoin Maxis who will keep spreading their arguments, regardless of accuracy. Because Bitcoin is a gateway cryptocurrency, crypto newbies will encounter it first and gobble up these narratives because they don't have the experience to know their flaws. And they're very convincing when you keep repeating them in an echo chamber: > > * Maximum supply cap of 21M BTC vs Fed's money printer > * Amazing past-performance gains vs fiat > * Works as Store of Value (despite volatility) > * Had a "fair launch" without an ICO > * Is not a risky altcoin > * Is decentralized (based on largest number of miners) > * Has instant payments via the Lightning Network > > **Ultimately, people are mainly using crypto for speculative investing and long-term Store of Value. Most people don't care about technology, Defi, or utility. Thus Bitcoin is sufficient for their investment needs.** > > And since cryptocurrency value is largely based on a Keynesian Beauty Contest (i.e. you buy not based on your own value, but on what you think others are going to buy), people are going to keep buying Bitcoin as long as the investment narrative holds. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/100p7vq/top_coins_bitcoin_proarguments_january_2023/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin) to find arguments on this topic in other rounds.

Mentions:#BTC#SEC#NFT

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Mentions:#NFT