Crypto tidbits

in hive-126009 •  4 days ago 


The largest Bitcoin wallet that belongs to an unknown entity or individual recently moved 101,857 BTC, worth just over $933 million. The transfer was first noticed by automated crypto tracking service Bitcoin Block Bot on June 27.

Whales are too big to move without alerting the crypto community and when they move they leave us wondering. This approximately a billion dollar worth of Bitcoin moved and the fun part for me is always the transaction fee.
Yeah it cost $0.48 to do $933 transaction, for our non crypto friends this might seem shocking but it is real and we are used to this sort of transaction fees.
Further read: The most secretive Bitcoin wallet just moved nearly $1 billion


The probe, carried out by Chinese news outlet Caixin found that Wuhan Kingold Jewelry, the largest privately-owned gold processor in central China’s Hubei province, used at least 83 tonnes of counterfeit gold as collateral for loans amounting to 20 billion yuan ($2.8 billion) from over a dozen Chinese financial institutions.

It look like Wuhan has got a reputation for the wrong reasons, Using $2.8 billion worth of fake gold as collateral, that is just unreal. So who can attest to the fact that the gold held in reserves are real? We are being lied to here and it is the masses that suffer from the unjust acts of leaders of nations.
I like the term digital gold when referring to Bitcoin. Here is another advantage of Bitcoin over gold, Bitcoin can not be faked. It is either a Bitcoin or go home!
Further read: Chinese firm dumps 83 tonnes of fake gold on the market

*We owe it to ourselves to make Hive great

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Some very interesting crypto news. Thanks for sharing.

*We owe it to ourselves to make Hive great

Not sure if the above is meant as an after thought or if meant in relation to the rest of the post about BTC.

If meant in relation to the rest of the post allow me to point out that DPoS and PoW are very much apples and oranges at this point. Both fruit if you will, yet very different. The unregulated trust which is intrinsically found in PoW is non-existent in DPoS at this stage of governance development. The recent HIVE/STEEM fork demonstrated, to me, that the present incarnation is broken beyond repair and as open to corruption as fake gold.

We owe it to ourselves to make Hive great

It is more of an after thought I leave at the bottom of my posts. I feel we have a great tool in terms of blockchain and crypto to better the live of humanity and only us can utilize this tool to our advantage.

I never saw the Steem hostile take over coming too, I never expected that. If I have to choose between PoW and DPoS I will go with PoW no doubt.
The fact that a hostile take over happened on Steem dose not guarantee it will happen on Hive and yes there is a possibility it could happen in the future on Hive. We are still experimenting at this stage, we either use this tool to our advantage or destroy it and let our lives continue to be controlled by central authorities.

We will see how it all pans out...
Many thanks for your input.

The fact that a hostile take over happened on Steem dose not guarantee it will happen on Hive...

My feeling is that the HIVE fork was exactly that, a hostile take over by the V.22.2 Cabal. It was not about the technology itself as not even witness vote retention was addressed. What was addressed was the potential threat to the consensus witnesses of the time. The narrative was the need for more decentralisation, yet even with STINC's stake hidden in the slush fund on HIVE's SPS system the decentralisation seems to have been a red herring.


Interesting perspective, what do you think can be done for a better DPoS like Hive? I will like to look at the solution side here.
Having a social platform on PoW will be awesome, do you think we will see such in the future?

Have been discussing with @lukestokes this very thing. Included below is a link to one solution put forward for your reading pleasure.

Thanks I will give it a read.