Mass of Transactions Leaving Crypto.com Wallets

Re:Mass of Transactions Leaving Crypto.com Wallets by tux on Monday November 14, 2022 @01:21AM (#33590750)

I agree, I think crypto won't survive for too much longer. Just by looking at BTC price for the last six months it dropped -14,201.80 (47.23%)[1] and just in one day -434.70 (2.67%). I'll take about six more months to one year but BTC will cost below 5k soon :) This is my prediction.

[1] https://www.google.com/search?hl=en&q=btc+price

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Re:Mass of Transactions Leaving Crypto.com Wallets by hiq on Monday November 14, 2022 @02:56AM (#33591273)

By just looking at prices, you'd think that tech also won't survive much longer.

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Re:Mass of Transactions Leaving Crypto.com Wallets by irusensei on Monday November 14, 2022 @03:01AM (#33591302)

So Bitcoin stops processing blocks at 5k USD. I had no idea this could happen.

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Re:Mass of Transactions Leaving Crypto.com Wallets by paulgb on Monday November 14, 2022 @04:42AM (#33591882)

It doesn’t stop processing blocks, miners just make less money for each one. Some miners will pull out of the market, making it easier for the rest to mine, until the market finds an equilibrium. The cost of attacking the system will go down, but it won’t stop entirely.

Some miners are already spending more on energy & operations cost per coin than the market value, so even if the price holds I expect to see some miners drop out of the market.

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Re:Mass of Transactions Leaving Crypto.com Wallets by lupire on Monday November 14, 2022 @09:20AM (#33594238)

-75% in 1 year is a more impressive number.

-0% in 2 years is a less impressive number.

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