Bitcoin and cryptocurrency, what's a financial bubble? Explanations in 5 minutes chrono!

[Ahmed]

I remind for those who would have been lazy (or shy?) To click on the link provided that the title of this work is: "The Dynamics of Digital Fetishism: The Bitcoin Case", by Eric Arrive.

On the question of the amount of human work * that can be implemented to meet systemic operating conditions, it should be understood that complex projects require more preliminary studies, but generally lead to highly automated processes; however the main obstacle to the achievement of this objective is not there, but rather in the immense accumulation of capital which does not find any more enough profitable opportunities to "fulfill its destiny" of self-increase. This explains the massive recourse to the financial industry which reversed the role of financing and thus allows to delude ourselves. Naturally, a minimum of real production is needed to maintain this illusion: it is the role of increasingly evanescent "bearers of hope" which is reflected, for example, in the electric car or the legislation on heating methods. (what I call regulatory obsolescence).
In my corner, they switch on the hydrogen buses. Knowing that public transport is structurally in deficit, it would be logical to favor inexpensive modalities (I suggest the trolley), yet it is recognized that, on the contrary, the choice falls on a technically complex technology, with low energy efficiency and financially very expensive, both in terms of investment and use (maintenance). Yet this choice is fully in line with economic "metabolism": it is allowed (read encouraged) by a European subsidy windfall which artificially lowers the purchase price, while maintaining the reality of the gains of the players in the future sector. Everything is reduced to a game of communicating vessels: what is lost by some is won by others ...
On the last point of independence and democratic character, we should not pay for words: algorithms are in the hands of developers and democracy as to decisions is entirely theoretical: the few decision-makers are made up of Bitcoin industrialists, mainly Chinese, reluctant to any development that could modify the balance of power which is currently very favorable to them.

* I remind you that there is no need to be "optimistic" or not on this point, since the fact that this quantity can grow or not only makes sense in relation to the internal constraints of the system.

[thibr]

Bitcoin, the loss of 220 billion in 1 hour, a fatal blow?

▬▬▬▬▬▬▬ Description of the video ▬▬▬▬▬▬▬
Bitcoin, the loss of 220 billion in 1 hour, a fatal blow?
Cryptos lost $ 220 billion in value in 1 hour ...
The fall would be linked to rumors of a regulatory crackdown in the United States, which all crypto investors fear.
But is this drop dealing a fatal blow to the crypto world?
I explain everything to you in this video

0:24 A meteoric rise in Cryptos which can be explained by several factors
1:35 A lack of confidence in Fiat currencies
2:27 the #Coinbase DPO
3:07 A market that is becoming more and more mainstream
The arrival of institutional investors (#ElonMusk, #Microstrategy, #Cathiewood, #square ...)
4:01 Bias momentum and FOMO
6:50 Why this sharp drop when conditions are increasingly favorable
7:10 Surprise effect of Biden with the intention to increase taxes on the capital gains of the richest
9:40 Profit taking to avoid heavy capital gains tax and pay less tax
10:22 A graphic exhaustion that I discussed in my previous videos
11:00 Bitcoin Decline Analysis
14:50 Difficulty for retail traders surprised by the turnaround in bitcoin #levier
21:10 Too much concentration and therefore too great a risk: 2,4% of bitcoin accounts control 95% of bitcoin
22:47 Does this mean the end of cryptos?

like what there are always losers in the speculation

[thibr]

The name "cryptocurrency" is incorrect. The bitcoin blockchain is not protected by cryptography but by an energy shield.
In this video I am making a model of a bitcoin system in Excel to really explain how bitcoin works. And I don't need cryptographic function.
The security of a blockchain must be measured in Joules because it is the energy spent to calculate it that constitutes an obstacle for fraudsters.
The real name for bitcoin has to be "energo-currency".

[Christophe]

All the more reason to talk about this forum !!!

Thank you Thibr, I really like each of your interventions!

[Ahmed]

The remark of Thibr is quite relevant: part of the bitcoin protocol is used for authentication and recording of transactions, but fraud is made practically impossible due to algorithms used to find ("undermine") the right combination so expensive in energy that the eventual gain would in any case be absorbed by the simple expenditure of energy. We find here the link that was originally established between metallic money and the extraction work necessary to obtain it: the value of the work * passed into the metal and this origin, soon forgotten, meant that it was the metal that seemed become a value in itself. This deep conviction helped to make the switch to paper money difficult ...

* This equivalence is of course only relevant in the capitalist system understood in its greatest acceptation.

[ENERC]

https://www.youtube.com/watch?v=40ULoRiXWJQ
The name "cryptocurrency" is incorrect. The bitcoin blockchain is not protected by cryptography but by an energy shield.
In this video I am making a model of a bitcoin system in Excel to really explain how bitcoin works. And I don't need cryptographic function.
The security of a blockchain must be measured in Joules because it is the energy spent to calculate it that constitutes an obstacle for fraudsters.
The real name for bitcoin has to be "energo-currency".

Your video is great

A small additional point: it is the attack of the 51%.
If I change the algorithm for example to duplicate certain transactions (mine obviously for payments) and I represent 51% of the network's computing power, then "my blockchain" becomes the consensus chain.
The site https://www.crypto51.app/ gives the cost to take control of a crypto. That's $ 716,072 per hour for Bitcoin, but $ 47 for Verge.
Small crypto therefore increases the number of blocks during which the transaction is "in progress" (unconfirmed). The effect is to increase the number of blocks, and therefore the 51% setting time, and therefore the cost to create a falsified blockchain. The downside is that you can't use the corners until they are fully validated.

Another note: halving. Periodically the remuneration of BTC miners decreases. But given the rise in the price of Bitcoin, this does not have the expected effect on the reduction of TWh necessary for its mining.
On other crypto, the reward decreases with each block mined to become very low when all coins are issued.

[thibr]

https://cryptonaute.fr/entre-tesla-et-b ... tc-plonge/

[thibr]

at 15mn15s the ultimate crypto to get fucked
the joys of speculating on a virtual value ...

Christophe have you considered launching your econolocoin cryptocurrency?

[Christophe]

He is good! Mdr le KimJungUn Crypto Nucléar Token !!

I see that it reacts as quickly to make videos (apparently quality) as the quotes of crypto !!

[thibr]

excellent

I created the French Dogecoin… it turns out badly! JEANKEVINCOIN #JKV