Author: dfmines

Cryptocurrency News and Public Mining Pools

Bitcoin Should Not Be Measured In Dollar Terms, Says Pompliano

The value of bitcoin is currently being measured in dollar terms and this is understandable given that fiat is still the most dominant form of currency. While those in the crypto space believe this will not continue for much longer, it is still important to price the digital asset in fiat currency to show its value to investors. However, millionaire investor Anthony Pompliano has countered against this accepted form of valuing bitcoin. He addressed the way the digital asset is valued as well as the dreaded volatility on a recent episode of CNBC’s Squawk Box. Don’t Value Bitcoin In Dollars Presently, one bitcoin is trading for around $51K. This apparent value is derived from the dollar, which confers a fiat value upon an asset that was created to replace it. Pompliano says that this should not be so. Instead, bitcoin should be priced in bitcoin. This way, “one Bitcoin still equals one Bitcoin,” says the investor. Related Reading | Billionaire Ricardo Salinas: Forget Fiat, Buy Bitcoin Bitcoin Instead Bitcoin’s value, when gauged in bitcoin, does not really change. The deflationary asset was designed in a way that it appreciates in value over time rather than depreciate, as is the case with the dollar. However, Pompliano notes that people ignore or overlook this part because they are so used to using dollars in their everyday lives. Bitcoin was never really meant to be priced in dollars as the issues that already plague the fiat currency could then translate onto the asset, for example, its volatility. “The dollar itself is hyper volatile as well,” said Pompliano. “We just don’t think of that because all of the goods and services around us are priced in dollars.” BTC continues downtrend | BTCUSD on TradingView.com Volatility Is Good When It Favors You Speaking to host Joe Kernen, Pompliano revealed his thoughts around the volatility that is one of the hallmarks of bitcoin. Said volatility has been one of the most mentioned reasons when prominent figures and governments have advised investors to steer clear of the digital asset, explaining that they are prone to losses due to the widely fluctuating nature of the prices. Related Reading | Why Bitcoin Will Never Surpass The Market Cap Of Gold Pompliano however does not see bitcoin’s volatility to be a bad thing. He explained that volatility is mainly a matter of how it affects an investor. An example of this is when a digital asset’s price swings upwards and the investor realizes gains from this move. In this scenario, they would accept volatility as being a good thing. But if the opposite happens, then it would be regarded as a bad thing. “Volatility is not good or bad, right? Basically, volatility is only bad when it goes against you, so if you long an asset and it goes down you don’t like volatility, if you long an asset and it goes up, you do like volatility.” The millionaire also pointed out that another issue was that bitcoin’s volatility was also being mentioned in dollars. Given the latter’s also volatile and depreciating nature, Pompliano said that it was a flawed way of measuring volatility. Featured image from CoinDesk, chart from TradingView.com

Gas DAO Project Forms to Airdrop Tokens to Ethereum Users That Spent $1,559 in Fees

A new type of airdrop has been very popular during the last quarter of 2021 as quickly assembled decentralized autonomous organizations (DAOs) have been distributing lots of value to existing crypto users. Just recently, Opendao gave Opensea users an airdrop and many people accrued thousands of dollars in SOS tokens. Now, another project called Gas […]

For the scenario of large-scale transactions, will ETH 2.0 render ZK Roll-up Layer 2 solutions redundant?

Hey all, please excuse my lack of knowledge regarding Layer 2 and ETH 2.0. I'm mainly wondering about low gas fees. Layer 2 in my eyes is optimal for small and scaled transactions (e.g. if Starbucks allowed all of its customers to purchase coffee using an L2 coin) because of the low gas fees and…
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How does a collectibles redemption interface work?

I want to create a simple interface for the following steps: User connects metamask wallet Platform detects NFT within the wallet Platform checks if wallet / NFT is in the whitelist If true, a file (e.g. an image) is downloaded I’ve reached the end of the internet and I couldn’t find any tutorial / repo…
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Gas prices

Hey there. Can someone explain to me how eth can be viable for small time users like myself. Who just want to transfer a small amount to ie a gaming site that uses eth? submitted by /u/Granberggranberg [link] [comments]

Harmony (ONE) EOY and Road Map for 2022

In 2022 Harmony strives to be a top blockchain for cross-chain assets, collectibles, identity, and governance. The main themes are: Adoption — By bringing utility to users through developers and partners. Hackathons with Gitcoin and workshops at Ethereum events to boost reach. Interoperability — bridging with Bitcoin and Ethereum for broader assets. The cross-shard and…
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Running two GPUs in PC

Have been mining w/ a 1650s, acquired a 2060s recently and am wanting to add it to my PC and mine with both. My question is, for those who have a 2 gpu setup, good idea or not? Or should I run second gpu outside the case for temp purposes etc? submitted by …
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StakeWise staking service is going fully decentralized

submitted by /u/cryptochrome [link] [comments]

New Moons Are Ready! (Round 21)

This distribution of Moons has been finalized, and Moons are being delivered to users with a registered Vault. Users who do not have a Vault yet will get their Moons when they create one through the Reddit app. This distribution is based on karma earned from 2021-11-24 to 2021-12-21. Here is the finalized list, with…
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