core

In this post: Justin Bones compares bitcoin to an emperor with no clothes and calls it fool's gold.

Mr. Bones also argues that tokens no longer provide performance, scarcity, censorship resistance or long-term security. He predicts that digital
Justin Bones, founder and chief investment officer of Cyber Capital, warned against investing in #bitcoin , calling it fool's gold In a detailed post on
X. In the post, Bones calls bitcoin an emperor with no clothes rather than a meme coin, and warns traders against taking #BTC investments seriously.
Bones believes that BTC has lost all its attractive qualities and will not last long. He argues that without capacity, scarcity, privacy, #DeFi and long-term security, the asset doesn't have a leg to stand on.
He also argues that bitcoin's other impressive qualities, such as censorship resistance, immutability, financial sovereignty and decentralization, have long been lost, and only other emerging assets have pioneered.
He further noted that: BTC was actually taken over by a relatively small group of people who managed to completely undermine the purpose, vision, and #core design of BTC. This did not happen without a fight. This story is now known as the block size debate, which culminated in 2017 with the victory of Bitcoin Core and the defeat of bitcoin.
He believes that one group is still in control of BTC, and unfortunately, traders are still unaware of the real state of affairs of the token. He believes that traders do not know what the tokens really represent. He further compared the current governance of BTC to the Github dictatorship and stated that unlike Satoshi's wishes, Core is preventing BTC from expanding its future mandate.
He further argued that bitcoin is currently only capable of about seven transactions per second and cannot be used for anything vital. He stated.

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As of December 24, bitcoin's 2024 return was 113%, but the stock prices of most miners failed to capitalize on the cryptocurrency's rise and ended the year in the negative According to

Hashrate Index and Google Finance, listed miners ended 2024 in the negative for most of them, with a drop of 84%. Of the 25 miners listed in the
index, only seven made investors a profit last year. At the time of writing, Bitdea (BTDR) is up 167%, Cipher (CIFR) is up 33%, Hat8 (HUT) is up 91%, Iris Energy (IREN) is up 72%, Northern Data (NB2) is up 58%, #Core Scientific (CORZQ) is up 327%, and TerraWolf (WULF) is up 169%.
Meanwhile, Argo Blockchain (ARB) is down 84%, Sphere 3D (ANY) is down 69%, MARA Holdings (MARA) is down 12%, HIVE (HIVE) is down 29% and Greeridge (GREE) is down 74%, BitFarms (BITF) is down 44%, BitFU (FUFU) is down 18%, etc.
Overall, 2024 will be a year of adjustment for #bitcoin #mining companies as they focus on reducing fees, increasing costs, and finding new revenue streams to sustain their businesses. Since the inception of the network
miners have earned a total of more than $71 billion, but roughly every four years, an event occurs that halves the revenue from mining new blocks. Most recently, in April, the value of bitcoin plummeted and miners' rewards dropped from 6.25 #BTC to 3.125 BTC.
According to Blockchain. com, as of Dec. 22, miners earned $42 million, down from more than $100 million in April.
Meanwhile, the complexity of creating new blocks on the bitcoin blockchain has doubled since last year, adding pressure to the rising operating costs associated with bitcoin mining. The average difficulty level for bitcoin is now 108.52, up from 72.01 a year ago, reflecting a 50.71% increase over the past 12 months.
Increased operating costs have also driven up the cost of mining. For example, BitFuFu reported a 168 percent increase in bitcoin mining costs to $51,887 per BTC, as well as a 62.5 percent increase in mining capacity.

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#CryptoAdoption

Polkadot's development began with the formation of the network after it went public in 2016. However, things changed in 2023 and 2024. The team shifted their focus from core functionality and developed a faster and more secure network. This modernization improved accessibility for both developers and users.

Result. Significant growth; #Polkadot transactions have jumped 300% since June and reached 40 million per month in November. This lucrative platform has become economically successful by supporting multiple applications. It supports game development through social media and offers a supply #chain project,
Gavin Wood successfully ran "Doom" on the chain at 30 frames per second. This includes both server logic and full graphics rendering. A second program running on a separate #core on the chain reads and outputs the frame buffer.
Mythos Chain's gaming assets on the #blockchain for NFL Rivals have attracted one million active wallets and five million Polkadot's gaming division will expand with the release of FIFA Rivals What is
On-Chain Doom? It refers to Polkadot's ability to do this. They tested the network while spamming the Kusama experimental network. The results are as follows: the Polkadot network achieved over 143,000 TPS, higher than all competing blockchain systems.
Gavin Wood, via Future Update Polkadot, JAM, DOOM, fully
Imagine that your smartphone could only handle a calculator, and suddenly someone told you that you could play full 3D games on it. Blockchain technology has done just that.
blockchain networks increase speed, but require complex hardware and lead to centralization. Polkadot is different. Horizontal distribution provides workload scalability across many nodes. The network protects all users without requiring specifications for participation.
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