And Ascendex is insured, sooo, like what is your point?
You know, you can actually get your own insurance on CEX hacks, in DeFi.
And you're making the assumptions that Binance won't get hacked again. Which they probably will, because CZ is hated.
AscendEX Crypto Exchange Hacked for $77 mln
- Thread starter mlawson71
- Start date
And Ascendex is insured, sooo, like what is your point?
You know, you can actually get your own insurance on CEX hacks, in DeFi.
And you're making the assumptions that Binance won't get hacked again. Which they probably will, because CZ is hated.
I didn't say anything about insurance.
Just because someone is hated doesn't mean they will get their systems hacked. Good grief. This conversation is over, I don't have time for this
I watched something by 99bitcoin on mining. He said that it's a case of guessing a number, is that true?
On the video at 21:28 he states that bitcoin doesn't exist and has no intrinsic value. There in lies my concern; what then makes it worth 50K one day and 60k a week later. There is really no way to value it.
Yes, on mining it's a guessing game, you can even do it by hand and produce a hash, but the winning hash has to meet the difficulty requirements per the given parameters
You might be able to produce 1 hash per minute by hand, but you'll be competing with miners that have thousands or even 10's of thousands of ASIC miners that produce Trillions of hashes per second
The Antminer S9 can produce 13.5 Trillion hashes per second
Bitcoin has no intrinsic value, but he also mentioned that fiat currencies do not have intrinsic value
Price of bitcoin is determined by supply and demand. It's an open market that trades 24/7/365. People come up with ways to value Bitcoin but it's subjective
Antminer S9 on Amazon
I know it's business as usual,that's the part I find so disturbing. It shouldn't be this way, but it is, obviously.
Well, you can always just stick with trad finance and its over-regulation