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Forum nameGeneral Discussion
Topic subjectGood bad ugly - the Street is paying attention.
Topic URLhttp://board.okayplayer.com/okp.php?az=show_topic&forum=4&topic_id=13433233&mesg_id=13445886
13445886, Good bad ugly - the Street is paying attention.
Posted by jetblack, Sun Oct-24-21 01:31 PM
SEC is blessing BTC ETFs so the Street can play on the blockchain(s).

Bitcoin is slow (max 4MB blocks of transactions every 10 or so minutes) and proof of work uses a lot of power - A LOT. The blocks of transactions are small and when the market is moving it's molasses. IT doesn't break and has never broken. It just get much much slower. Hence all the forks attempting to solve that but people aren't using it - your DOGE, LTC, RVN, DASH... so many. The next big iteration is Proof of Stake coin.

There are other blockchains like Ethereum Layer 2 scaling solutions Avalanche (AVAX), Fantom (FTM), Polygon (MATIC), the very very centralized Binance BNB (BNB BSC) and others can be used like "regular money". It's fast and resolves quickly. >4000 TPS on AVAX 24-7-365-no holidays. Visa is fast >25k TPS (40 seemed too high - thanks Google) but you can't use it everywhere. Crypto can be used everywhere. Even off world - theoretically.

I've been in since June 2017 - the best and worst time to get in. ICO summer, Bitconnect (which I never used because it WAS a Ponzi) and thousands of scam projects out to get ETH and vanish. I've made a lot of mistakes and some really smart calls. And I pay my taxes.

I have real money in crypto I have made from "play" money. I have to take it seriously. Just like my 401(k), "Stonks" and other investments.

I'm not planning to buy a pizza with my BTC.
I'm going to buy houses.
I'm going to pay for private school.
I'm going to travel A LOT when the world is slightly less diseased.
Large purchases.

I understand people not wanting to participate. And you don't have to. But if you do there's risk. Similar to the Street.