In an event of a crisis…

Imagine, your president/emperor/leader finally caved in and a sudden political chaos happened. Your local currency is getting worthless every minute. You as a part of a minority somehow got targeted because the mob needs to channel their anger. You’re a regular joe who don’t have access to foreign assets.

Anyway, you’re trying to get out of the country, and may not return. Where you’re going, you need money. The bank? Banks are closing and lines are miles long due to a bank run. Foreign currency supply is being blocked off by your government as a stop gap measure to keep the local currency from crapping itself even more. Gold? At a scale is pretty impractical to carry as a refugee.

Cryptocurrencies such as bitcoin IMO the most practical to move in an event like this. You can just keep your wallet phrase and just get away, regardless of who you are and where you’re from. And the most important thing is how the currency is independent of any political group which makes any form of CBDC objectively worse (in an event where your president is the “bad guy” according to the WEF, you’ll still have a rough time.)

The Bitcoin network difficulty has dropped 4.3 percent to 29.897T, the lowest level in ten months.

The network difficulty recorded a drop of 4.33% — falling from 31.251 trillion to 29.897 trillion on May 26, just two weeks after attaining its all-time high. The Bitcoin network witnessed a historic event on May 12 when the network difficulty attained its all-time high of 31.251 trillion as miners mined nearly 50,000 BTC of the remaining 2 million tokens.

To authenticate and confirm transactions on the BTC blockchain, increased network difficulty necessitates more processing power. As a result, bad actors are unable to take control of the network by providing more than 50% of the hash rate and committing double-spending assaults. According to Gonzalez, El Salvador made profits via strategic BTC investments and repurposed the fresh funds to build infrastructures like a veterinary hospital and a public school. Is now the time to dive into BTC, or look at a different direction and look at some projects like CoinFantasy? The choice is yours!

I call bottom ( $1700 )

I usually only restrict myself to posting in the daily discussion.

But since these events are pretty rare, it's still worthy of their separate posts.

I'm calling bottom at $1700

You can't go much wrong with any buys in the range of $1700 - $1800 right now.

We are entering our 9th red candle week. That's a record.

On something that is bullish AF on the long term.

I mean, get this: ETH is going $10k, $20k

Bitcoin is going to hit $100k somewhere in the future, that has become almost a law.

And when Bitcoin hits $100k and beyond, the road lies far wide open for ETH to reach $10k

That's the big picture, that's the long term chart.

A 9-week streak of red candles is really, really, pushing the limits of the bears in this huge bull run we've been in since 2015. The bears are running out of ammo.

Honestly, what more does anyone in here expect from this short bear market within the bull market... $1300 ? $1000 ?

There is not a single metric supporting such a price.

Be happy with the discount that you can get, it's not going to get any better than this.

The Ramifications Couldn't have Been Greater for Ethereum's Merger. What do you think of the Upcoming merger?

Crypto investors are looking forward to the end of May, a month that has brought nothing but losses. And, while it's too soon to say whether the worst is over—Bitcoin is currently trading below $30,000 as this has taken its toll on Altcoins including relatively new ones like Solana which is one of the largest transaction network; Concordium which is a fast and cheap transaction network e.t.c and could fall further—it appears that the industry will weather the storm just fine. So long as the Ethereum merger goes smoothly.

If you've been living under a crypto rock, "The Merge" refers to the long-awaited upgrade to the Ethereum blockchain, which will see the No. 2 cryptocurrency switch to a proof-of-stake model, removing concerns about Ethereum's environmental impact and dramatically improving transaction speed.

The Merge is the most recent name (the previous one was Ethereum 2.0) for a process that has been ongoing for years and has been postponed numerous times. However, Ethereum experts, including co-founder Vitalik Buterin, are now predicting that the event will take place in August when the Beacon chain (a parallel Ethereum blockchain that is serving as a proof-of-stake test) merges with the main Ethereum chain.

They had better be correct. Crypto desperately needs a win right now, and Ethereum pulling off the most significant upgrade in blockchain history would provide it. It would show that the Ethereum community, which is known for being friendly but frivolous, is capable of doing serious business.

It could also spark a significant ETH price increase.

While Ethereum's chances of completing the merger appear promising, there are also reasons to be concerned. The Beacon chain experienced a so-called "block reorganization" event this week, in which its blockchain forked for seven consecutive blocks—something that hasn't happened in years. While the cause appears to be benign, it triggered a brief period of uncertainty because the emergence of multiple, competing Ethereum chains following the merger would be disastrous.

To their credit, the elite developers assisting in the merger have worked patiently and methodically to ensure that the new Ethereum blockchain is ready for prime time. And, as Kraken CEO Jesse Powell stated on a recent episode of Decrypt's gm podcast, he is unconcerned about the numerous delays that have plagued the merger process, because success is more important than speed in a situation of this magnitude.

Powell is correct, but the Ethereum merger cannot continue for much longer. Further delays will elicit accusations that the Ethereum community is unprepared for the task, and it is possible that the blockchain's gas fee woes, which are a major impediment to crypto's mainstream adoption, will never be resolved. Failure by Ethereum to move beyond the energy-intensive proof-of-work system would provide additional ammunition to environmentalists and politicians who already have a grudge against the crypto industry.

The bottom line is that the stakes for the merger could not be higher, not just for Ethereum, but for the entire crypto industry. Success will restore faith in Web3, whereas further delays or a botched execution will result in a price collapse and a new and nasty Crypto Winter. Everyone in the crypto community, including Bitcoin maxis, should be rooting for Ethereum to pull this off. The alternative is a market much worse than the one we're in right now.

Attend

Scaling Bitcoin Workshops

FOR THE ENGINEERING AND ACADEMIC COMMUNITY

In early 2015, the Bitcoin development community faced difficult discussions of how to safely improve the scalability and decentralized nature of the Bitcoin network. To aid the technical consensus-building process, we organize workshops to collect technical criteria, present proposals, and evaluate technical materials and data with academic discipline and analysis that fully considers the complex tradeoffs between decentralization, utility, security, and operational realities. This may be considered as similar in intent and process to the NIST-SHA3 design process where performance and security were in a trade-off for a security critical application.

Since Bitcoin is a P2P currency with many stakeholders, it is important to collect requirements as broadly as possible, and through the process enhance everyone’s understanding of the technical properties of Bitcoin to help foster an inclusive, transparent, and informed process.

In order to facilitate wider audience participation, Scaling Bitcoin events are live-streamed with remote participation possible via IRC and WeChat for parallel online discussions and the ability to participate in live Q&A.

Who Should Attend?

• Engineers (related areas of expertise)
• Academics with research in related areas
• Journalists affiliated with technical publications