It is not a question of if, but when.
The next big Bitcoin Crash.
This happens every year,but the next one could be the big one.
How will this happen and why, you ask?
Well, let me explain this to you:
Coin Mining is expensive, on Bitcoin and Ethereum in any case.
So to get your money back, you need to sell the coins. but you also want do hold them to increase scarcity and let the price go up.
So you get a loan on your coins.
Those 3rd parties also need money, they too take loans.
This isn't even as well regulated as in the finance business.
The next step happens every year:
Bitcoin drops in value. Nothing new.
Now we add something, Bitcoin preppers are just waiting for:
Financial institutions melt down/break down/don't have the credit flow anymore, to support the loan industry.
Lending companies demand their money back.
Cash out of Bitcoins, drowning the market, price goes down even further.
Panic sales continues.
Miners stop working, need to sell their hardware.
Bitcoins slows down to a crawl.
No one left to find the hash.
It can take days on a CPU.
One big Pro:
GPUs get cheap as hell. All those Etherminers need to cash out they hardware
(I hope;) I will not start a rant on those expensive graphic cards and why I play 10 year old games, because, well, who has the money for that? I am in just too good mood for that!)
Now asking Tehter, where are those ..100 Billions?
Exchanges will have "technical difficulties", slowing down this process.
Your NFT?
It is just a link to a centralized institution, which is also bankrupt and gone.
At least it would be a fun reboot, to get rid of the environmental hazards of PoW.
And Hive?
The price is down to SNAX level.
Hive follows Bitcoin and for sure always in a bad way.
You cannot cash out or buy HIVE, Exchanges down.
A lot of witnesses will stop, equipment has to be payed and other coins are worthless, too.
Those, who didn't "invest" or are here just for fun and have a real job, might be staying.
But on the other hand, why stay?
Would Hive still be censorship resistant at that point?
Some evil party could buy a huge amount of Hive for next to nothing.
We have seen this on Steem, what worked there, might work in above described scenario here again.
No exchange needed for that.
Would a restart like in spring 2020 be possible again?
I doubt it, as most devplayers will be gone to some real jobs.
If there are any:))
Jobs I ment, devs, we have enough here.
Would you stay?
You just have a pile of numbers in a distributed ledger.
That might not even work that well, as witnesses and RPC nodes are dropping..
Remember, always stay on top of MLM and get out in time! Reversed funneling is not for everybody.
Ok,but why am I here?
For the numbers.
I love playing incremental games.
And hive is another incremental.
True,there is no prestige, but still, numbers go up, all the time.
One just needs to be efficient in balancing those numbers and make people fall for their scams.
I am not sich a person, my number go up very slowly.
So, you can trust me and vote for me as witness!
Anyone interested in an Hivecrememtal?