Bits.ca – Bitcoin & Crypto Currency News & Resources

submitted by /u/sidmehra1992 [link] [comments]

Anyone who is interested in the tech discussion should be familiar with the bitcoin security budget debate. One side says bitcoin mining reward going to zero, how is it going to pay miners? The other side says fee will go up. The other side respond fee is not stable... However, bitcoin actually has another security budget problem since day 1, not related to halving. The total reward is the same no matter how many miners are mining. Miners can choose a trusted person to mine, and share the reward based on an agreed upon rule. They get the same reward as before, without spending a penny on power or mining rigs. Miners choosing a trusted party to hold and distribute reward is already happening. It is called mining pools. There doesn't need to be a way for it to happen today. If everyone makes more money that way, then the Nash equilibrium is there, not the current state. The model is broken. I will still give you an example how this could realistically happen: Top pools that controls 99% of the hashrate decide to join the reward sharing program. They tell miners to stop mining, they will still get 90% of the reward, without spending power. The pools start mining with only 10% of the original hashrate. Now they controls 90.8% of the hashrate instead of 99% (originally 99 to 1, now 9.9 to 1), so an 8% decrease in profit. However, they now consume 90% less electricity, 90% less rigs. An 8% decrease in profit with a 90% reduction in cost results in net positive. Everyone gets more money. The reward sharing rule could be based on how much money each miner deposit in. This is no difference than spending money on mining rigs to get more shares. It is not a hack or a direct attack. They can even advertise it as "bitcoin go green". The cost to attack bitcoin will become almost zero. The worst part is, if miners are 100% cooperative with each other. The lower the hashrate goes, the higher reward each miner gets. The Nash equilibrium state is at near zero hashrate. Some people may say, if they do this, bitcoin will fail and they lose all the money. If you use this as an argument, no coin can ever be attacked. That is not how we examine security models. submitted by /u/wood8 [link] [comments]

Title. I lean towards being a bitcoin maxi because there is lower volatility and at times when it has massive drops, that tends to be the safer time to buy and get ready to profit a few years later. When new people ask me about crypto I always tell them, "Financially the safest investment you can do is just DCA into bitcoin for several years." But I knew a guy who went out and bought a coin that was a spin off of one of many types of doggy coins. He didn't lose ALL of his money, but the charts for that coin. So, to rebuff the question: let's say the coins with cats, dogs, ducks, frogs or whatever you are buying go down in value by 99% in a few years. You make a decent chunk of change this year off of them, but other people clearly lose money. Do you feel any moral issues with this? submitted by /u/sgtslaughterTV [link] [comments]

Philadelphia-based Republic First Bank (doing business as Republic Bank) was closed today by the Pennsylvania Department of Banking and Securities, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect depositors, the FDIC entered into an agreement with Fulton Bank, National Association of Lancaster, Pennsylvania to assume substantially all of the deposits and purchase substantially all of the assets of Republic Bank. https://www.fdic.gov/news/press-releases/fulton-bank-na-lancaster-pennsylvania-assumes-substantially-all-deposits *This bank should not be confused with First Republic Bank, a San Francisco-based bank that collapsed last year and was acquired by JP Morgan. submitted by /u/AnthonyBTC [link] [comments]

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

filing: https://www.dtcc.com/-/media/Files/pdf/2024/4/26/B20002-24.pdf https://twitter.com/741trey/status/1783978665874719129 crypto won't be allowed to be used as collateral starting next week. not sure how this affects mstr and their convertible debt loans. those should be unaffected but i am a moron. seems like this may hurt more of the hedge funds, market makers and clearing houses based on the online chatter i'm seeing reacting to this. submitted by /u/adrock3000 [link] [comments]

Welcome to the Daily Crypto Discussion thread. Please read the disclaimer and rules before participating.   Disclaimer: Consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading, and could be an attempt to manipulate new readers by known "pump and dump (PnD) groups" for their own profit. BEWARE of such practices and exercise utmost caution before acting on any trade tip mentioned here. Please be careful about what information you share and the actions you take. Do not share the amounts of your portfolios (why not just share percentage?). Do not share your private keys or wallet seed. Use strong, non-SMS 2FA if possible. Beware of scammers and be smart. Do not invest more than you can afford to lose, and do not fall for pyramid schemes, promises of unrealistic returns (get-rich-quick schemes), and other common scams.   Rules: All sub rules apply in this thread. The prior exemption for karma and age requirements is no longer in effect. Discussion topics must be related to cryptocurrency. Behave with civility and politeness. Do not use offensive, racist or homophobic language. Comments will be sorted by newest first.   Useful Links: Beginner Resources Intro to r/Cryptocurrency MOONs 🌔 MOONs Wiki Page r/CryptoCurrency Discord r/CryptoCurrencyMemes Prior Daily Discussions - (Link fixed.) r/CryptoCurrencyMeta - Join in on all meta discussions regarding r/CryptoCurrency whether it be moon distributions or governance.   Finding Other Discussion Threads Follow a mod account below to be notified in your home feed when the latest r/CC discussion thread of your interest is posted. u/CryptoDaily- — Posts the Daily Crypto Discussion threads. u/CryptoSkeptics — Posts the Monthly Skeptics Discussion threads. u/CryptoOptimists- — Posts the Monthly Optimists Discussion threads. u/CryptoNewsUpdates — Posts the Monthly News Summary threads. submitted by /u/CryptoDaily- [link] [comments]

I follow some coins and the bigger crypto currency subreddits. I usually like to see the comments and view the profiles. I try to see what other coins/projects they are interested in or other interests. However, I have noticed that they have accounts that go back years and will have made comments/posts (that have nothing to do with crypto) up until about 4 months ago and then suddenly it will jump to a month ago or even a few days ago then they have been routinely (almost frantically) posting and commenting on cryptocurrency subreddits. They don't make comments or post on their other interest anymore. Could their accounts have been hacked? Or turned into bots? To shill/hype projects. It would make sense to steal/hack an account that's older to maybe make their comments seem legitimate. Please let me know what you think... Thanks submitted by /u/Gcs1110 [link] [comments]

I bought my bitcoins 2 years ago now because everyone promised me that once this magical date hits in 2024, April 20, the halving would ensue, causing another skyrocket bull run and I would be filthy rich. It's been almost a week now and so far my portfolio is DOWN this week. I will be collecting the most notable usernames from this subreddit and taking legal action for giving me poor financial advice and wasting 2 years of my life looking at a silly graph. I will be selling ALL of my bitcoins so I won't be scammed any further by the rest of you. The other redditors warned me about evil cryptocurrency and its scams on the front page every single day, I should have listened submitted by /u/ThisNameDoesntCheck [link] [comments]

submitted by /u/0xJonnyDee [link] [comments]