- Dec 25, 2020
- 592 (0.99/day)
- São Paulo, Brazil
|Processor||AMD Ryzen 9 5950X 16-Core Processor (B0)|
|Motherboard||ASUS ROG STRIX B550-E|
|Cooling||id-cooling Frostflow X 360 + Gelid GC-Extreme|
|Memory||64 GB (4x 16) Dominator Platinum B-die @ DDR4-3600 16-17-16-34-1 1.375V|
|Video Card(s)||ASUS TUF Gaming OC GeForce RTX 3090 24 GB|
|Storage||WD Green SN350 480 GB (x 2), Samsung 840 Pro 128 GB, Intel SSD 320 160 GB, Lexar NS100 256 GB|
|Case||Lian Li PC-O11 Air|
|Audio Device(s)||EVGA Nu Audio (classic)|
|Power Supply||EVGA SuperNOVA 1300 G2 1300W 80+ Gold|
|Mouse||HyperX Pulsefire Haste|
|Keyboard||Logitech G213 Prodigy|
|Software||Windows 11 Pro for Workstations 22H2|
But it wouldn't be BTC anymore and wouldn't have backing of the market...so very different. Look at ETH and ETH classic. Or even BTC vs LTC. None of the forks come even close to the Original.
This happens because a hard fork is a rule change. Now where do you fit in financial stability in that mess? You don't. That's the entire initial argument. Due to... this:
Except each time the coin forks, you effectively invent another million+ coins out of nothingness.
The number of cryptocoins continued to grow through last year and the year before. Now we're entering a "recession" of coins it seems, where cryptocoins start to collapse in value and consolidate.
You are right, but this is something that occurs by design, since anyone can create a cryptocurrency out of thin air, there is no central authority to regulate the currency. Exchanges, which have grown attached to the stock market, have been more than just brokering trades - many have been actively manipulating currencies. These big exchange companies have largely taken place of central authorities, much to cryptobros' ideological dismay. In fact, Binance suspended Luna trading far before it entirely collapsed, after they've realized absolutely massive (in order of 99,9%) losses:
Fellow Binancians, Binance will suspend spot trading for the LUNA/BUSD and UST/BUSD trading pairs at 08:30 AM (UTC) on 2022-05-13 . Withdrawals for LUNA and UST will open when the network becomes ...
Forked or not, a currency is only valuable if there is a consensus of trust around its worth and viability, which Terra and Luna lost.