Home Blockchain PoS of Cardano (ADA) Scaring Devil out of PoW of Bitcoin (BTC) in China

PoS of Cardano (ADA) Scaring Devil out of PoW of Bitcoin (BTC) in China

PoS Cardano PoW Bitcoin

Charles Hoskinson, Cardano (ADA), in response to China advances its war on Bitcoin, cracks down on mining:  Remember, with a Proof of Stake system, you can move your server deployment anywhere in the world via the command line. I wish the Chinese miners the best of luck relocating all their extensive mining equipment somewhere else.

Well, Charles seemed to scare Bitcoin investors, and some of them were like:  It’ll just be stored in the Chinese market.

Others were like:  Not for 1 second do I think China will stop Bitcoin mining; however, all mining will be run by the state, and they will ramp it up to the moon and sit on it.

However, it is possible to see big heads positive about the market and particularly the BTC.

Justin Sun expressed:  My personal opinion about the current market. This is not investment advice.  The bull market is certainly not over. We are in the period of the adjustment of bull market. June will build a steady trend. July and August will certainly start a new round of bull market.

CZ Binance: Fear and greed are two emotions exemplified by trading. If you experienced fear a few days ago, it is time to read more about and adopt risk management strategies. Don’t get greedy.

Jared Tate, Founder Digibyte:  The worst Bitcoin crash I lived through mentally was in the spring of 2013. BTC ran from $30 to $266 & crashed back down to $66. I lost half my Bitcoin when I panic sold at $80. Bought back in at $160. Lesson learned.

On May 23, 2021 Paolo Ardoino, CTO Bitfinex, expressed:  “We’ve been seeing a ton of BTC/ETH inflows in our cold wallets in the last hours in Finex (12k+ BTC, ~200k ETH). Note that margin trading allows BTC, ETH, etc., to be used as collateral, so while we don’t know what’s going to happen, don’t assume it will be 100% for selling.”

Users in response to Paolo were left wondering: BTC/ETH is coming into the exchange from cold wallets. He’s saying it might not necessarily be for selling; it could be used as collateral for margin trading.

In Bloomberg TV: Michael Sonnenshein Grayscale Investments CEO weighs in:  When you think of Bitcoin, there is a pretty widely held narrative now that Bitcoin is perhaps a digital gold or a replacement for that physical stored value that was once part of investor portfolios. Certainly, in the developed world today, investors are not thinking about Bitcoin as a transactional mechanism or as a replacement of fiat currency, but rather a new portfolio diversifier and something that, quite frankly, cannot offer the same risk-reward that you might find in other investment opportunities today.

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dan saada

Dan hold a master of finance from the ISEG (France) , Dan is also a Fan of cryptocurrencies and mining. Send a tip to: 0x4C6D67705aF449f0C0102D4C7C693ad4A64926e9

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