Or 4 July. This won't stop the ETH FUD though. The new narrative is the ETH inflows will be a disappointment.
Meanwhile, I am pessimistic about Bitcoin's long-term Proof-of-Work viability. Miner yields will continue to half every 4 years. Why will many miners stick around? The fees won't be able to keep them paying for massive electrical bills and infrastructure. Renewable energy is not cheap either. Somebody has to pay for and build the wind towers, solar panel installations, etc.
I expect that they will have to either remove the 21 million cap to keep the miner dynamic going or something else. Proof of Stake won't work either because the cap means stakers can't receive BTC yields, unless it is robbed from non-stakers.
Surely the Wall Street yoyos have to realize this?! Why has nobody asked Saylor's opinion about that?
BTC can’t go to proof of stake otherwise it becomes a meme coin.
The difficulty adjustments are there to take into account miner participation. Miners get paid in BTC, not money. Miners sell BTC to pay for energy/op costs.. Price of BTC gets impacted by miners. Price influencers miner Participation which influences difficulty and influencers the BTC payout. There is no issue there at all.
The question is what I proposed a while back which is the US centralisation of the BTC network. For people who use morality first and profit second, they already face this of their own moral code. For anyone truly in it for privacy etc you’d have already sold once China left the mining and the US began centralising to take control of the network. Making xxxxx% gains changes people’s morals once they have the money. That Keiser dude is a total fraud, leads soooo many to wreckage and he knows it but hides behind some fake morality.
Trump already stated the US should own the crypto industry. The ETFs now have them in control of price. The mining has them in majority of the mining pool in control of the network to put others out of business (khazakstan is left).
What lies ahead the next few years is the US is going to nuke the shit out of BTC and drive other miners out of business. They take control of the network at the low market prices, then drive the hash rate through the ceiling preventing anyone else from catching up with GPU power. Then future BTC price will be under US control like the Gold market. Done.
Everyone gunna get round tripped dude.
