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10 sats \ 1 reply \ @muteness11 30 Mar \ on: I'm closing my old 300 channels Lightning node, here are the reasons bitcoin
much appreciated for sharing your experience.
Used to move fiat into CEXes to buy BTC until I got a call from the bank! ever since its only p2p markets ..........so how will you bring BTC to banks if banks (generally speaking) prohibits/doesnt like dealing with it in 2024?
I work in the mining space and I deal with many people I'd say the majority of people who mine are:
- FOMOing into mining without understanding even basics on ASICs, hashrate, difficulty etc...
- they are triggered by 2 things: NGU (thinking they will print BTC) and predatorial type of marketing companies do to hook them up
at least 90% lose in BTC terms or $ terms .... u better buy BTC instead
Note: this IS financial advice
start a ponzi scheme... with more participants you will have your passive income ;)
on a serious note, such thing called passive does not exist ... its just a marketing jargon to make people believe its low risk and guaranteed income (for a safe mind) ....the reality, any investment is subject to price fluctuations, market dynamics, success or failure
Let me make it easier for you, I was recently in a Bitcoin event and reached out to the Fedimint booth and asked what is fediment?, their response is "community and an App" .... even employees dont understand it which tells you a lot about the challenge!
Can you highlight what is the difference on send/receive via 1, 3, and bc1?
In other words, should I care? whats in it for sender/receiver?
I wouldnt, simply the reward isnt worth the effort in most cases
IF the reward is high this will attract users (most of them mercenaries) and a few would stick around ............UNLESS, the surveyor can come up with a convincing answer for the user ...."WHATS IN IT FOR ME?"
Best of luck buddy
do a freelance .... no need for a company
plus consultency has no overheads (no product/service to buy, no employees ... just you and your time)
LOL yup .... same applies to miners (i work in the space) so their prices changes literally every day and sometimes within hours
To summarise it and to simplify it, miners compete between each other to solve a mathematical puzzle (the first one who does wins a block (6.25 BTC + fees) and this could happen in 1 minute or much longer.
Governance mechanism:
The target for increase/decrease difficulty (to mine a block) is 10 minutes... so every 2016 blocks (~2 weeks) if the average is more than 10 minutes (hard to mine) then the difficulty decreases , if its less than 10 minutes (easy to mine) then it increases
hope that helps