💡 Debunking 6 Big Bitcoin Myths 💡
1️⃣ Myth - #Bitcoin is a bubble 📉
Real Story - Bitcoin's price cycles are expected, not a bubble. It has endured and recovered through multiple cycles, unlike historical bubbles. Understanding its technology helps put its market fluctuations in context.
2️⃣ Myth - Bitcoin has no real-world uses 🌎
Real Story - #BTC is more than a speculative asset. It serves as a global, #decentralized means of payment and has earned the «digital gold» moniker for its role as an inflation-resistant store of value. Major funds and companies see it as a strategic asset.
3️⃣ Myth - Bitcoin lacks real value 💰
Real Story - Bitcoin's scarcity (only 21 million will ever exist) and predictable #halving events contribute to its value. Unlike fiat currencies, Bitcoin isn't subject to inflation caused by arbitrary increases in supply. Its hard-coded scarcity enhances its store-of-value properties.
4️⃣ Myth - Bitcoin will be replaced by a competitor 🚀
Real Story - While numerous crypto have emerged, Bitcoin remains the most valuable by market cap. Its decentralized nature and strong community support contribute to its resilience. Competition is welcome, but surpassing Bitcoin's dominance remains a significant challenge.
5️⃣ Myth - Bitcoin isn't secure 🔒
Real Story - The Bitcoin network has never been hacked. Security concerns often stem from third-party services rather than the core protocol. With widespread global miner distribution, Bitcoin's decentralized structure ensures robust security and trustless peer-to-peer transactions.
6️⃣ Myth - Bitcoin is bad for the environment 🌍
Real Story - Bitcoin #mining is energy-intensive, but its environmental impact is nuanced. A significant portion of mining relies on renewable energy sources. Economic incentives may even drive innovation in sustainable energy as miners seek cost-effective solutions.
📣 All Systems Go: Bitcoin ETFs Are Finally Live — Bitcoin Mining Landscape Overview
📝 Article Highlights:
🔹 SEC Approves First Spot #Bitcoin ETFs, Opening Doors for Institutional Adoption
🔹 Wall Street Analysts Predict 230% to 340% Increase in #BTC Price by 2025 After #ETFs Approval
🔹Bitcoin #Miners and Traders Anticipate ETF Impact as On-Chain Activity Surges
📌Full article 👇
https://t.co/D40kAh7Uyh
🚀 Big News! Lumerin continues to grow on @DeBankDeFi, the leading Web3 messenger & portfolio tracker!
🔗 To stay updated and subscribe to Lumerin on DeBank👇
https://t.co/TXpiTQoWKE
🌐 Lumerin Sticker Pack Contest Announcement 🥳
Hello, Lumerians! 👋
Get ready for the Lumerin Stickers Pack Contest, designed exclusively for Telegram! Showcase your creativity by incorporating the spirit of the Lumerin Protocol in your sticker designs.
📅 Jan 9-31, 2024
🎁 $300 in LMR
Contest Rules:
👉 Create a minimum of 15 original stickers featuring the Lumerin logo or our adventurous mascot, Hashie.
👉 Ensure they are engaging, fun, and suitable for all users.
👉 All work must be original.
👉 Use official brand materials ⤵️ https://t.co/2UHRmYeP0i
👉 Submit stickers in PNG or JPEG formats, optimized for Telegram.
🌟 Submission Guidelines:
🔹Like, tag @HelloLumerin & RT the original post. Include the hashtag #LumerinStickers.
🔹Design at least 15 original stickers for Telegram that reflect the Lumerin Protocol's theme. Ensure they are engaging, fun, and suitable for all users.
🔹Submit your sticker pack and complete the form: https://t.co/HGNptj58cb
💰 The top three participants will split a prize pool of $300 in LMR! (Winners will be chosen by our team.)
Winners will be announced and awarded within two weeks after the contest concludes.
📣 We're happy to announce that our Co-Founder, @ryankcondron, will be a speaker at the @BitcoinEnergyS 2024. Learn about the transformative shift in traditional #Bitcoin#mining. #BitcoinEnergySummit
🗓 April 22-23, 2024.
📍Bitcoin Energy Summit 2024, Miami, FL
Another factor impacting hashprice is #BTC's escalating difficulty. Jan 5, 2024, difficulty rose by 1.65%, hitting ATH of 73.20 T. This follows a 6.98% rise on Dec 22, which came after Bitcoin's #hashrate reached 549 EH/s (7-day avg) and 525 EH/s.
https://t.co/CIjnQx7sJK
📉 From Nov to Dec, transaction fees dropped from 20.5% to 14% of all block rewards. While still above 2022's 1.65% average, this decrease contributes to the current #hashprice reduction.
🔍 #Bitcoin Mining Update 📈🔗
🚀 Since New Year's Eve, hashprice has dropped 16.4% from $99.50/PH/day to $83/PH/day. This comes after Q4-2023 with a record-high average hashprice of $81/PH/day. 🧵👇
Additionally, @Grayscale's #BTC Trust (GBTC) recorded nearly half a billion in trades, exceeding the activity of over 99% of existing #ETFs. This surge in trading volume highlights the increasing impact of #crypto on traditional finance.
📊 In a significant market development, @MarathonDH an @RiotPlatforms, two major #Bitcoin mining firms, achieved a combined trading volume of $3.55 billion on Jan 8. This figure surpasses the trading volumes of leading tech companies such as @Tesla, @AMD, @nvidia, and @Apple 🧵👇
Happy Monday, #Lumerians! 🩵
📢 Check out the latest updates from the #Lumerin Development Team!
Key Highlights:
✅ Released fixes for contracts that closed on-chain.
✅ Back-End:
- API updates for improved contract, miner, and state visibility.
- Public node utilization for proxy-router (similar to the wallet).
✅ Front-end:
- Optimal pricing recommendations in the Wallet UI (Seller Feature).
- Bulk Pricing Update UI (Seller Feature).
Have questions or suggestions? Drop them below!
https://t.co/FxgGOkORvo
15 years ago as of Jan 3rd, the #Bitcoin Genesis Block was mined, initiating a global revolution in finance. As a mining project, we're proud to be part of this ongoing journey towards decentralized and democratic finance. Here's to the future of #mining and #blockchain!
🌟 Meet Hashie, our adventurous mascot from the Lumeverse! 🌌
Hashie's journey is one of exploration and innovation. In his world, buying #hashrate is a breeze with #LMR coins. However, Hashie encountered a challenge – he was unable to find any LMR coins. 😔
Then, something extraordinary happened! A portal transported Hashie into the real world, where he gained the special ability to find LMR coins. 🌀✨
With this new skill, Hashie began gathering LMR coins here. He understood that these coins were crucial for purchasing hashrate back in the #LumerinMarketplace. The only obstacle left was finding a way back. 🤔
Hashie's search led him to a large screen, which was more than it appeared – it was a portal to his own world! 🖥️🌍
Through this gateway, Hashie accessed the Lumerin Marketplace, accessed with contracts and unlimited opportunities for hashrate. He chose a contract, eager to utilize his newly gathered LMR coins. 💻🔗
Now, with every LMR coin Hashie collects in our world, he can effortlessly buy hashrate in the Lumeverse. This is a true connection between worlds, enabled by Lumerin. 🚀
Join Hashie on his adventure and explore the revolutionary possibilities of our Lumerin Marketplace! 🌐
🎙 Explore the evolution of #Bitcoin mining with our CEO @ryankcondron. Find out how Ryan got started in #mining, from early GPU-based rigs in garages to the #ASIC and FPGA revolutions, and what it all means for decentralization and the future of crypto. Join us for this deep dive with host @vladcostea on the YouTube channel @BTCTKVR.