All the crap that happens in crypto is always due to problems with altcoins aka scam coins. Terra Luna, ethereum, Blockfi, FTX token, Celsius, etc.
Bitcoin has nothing to do with these garbage tokens, and yet whenever some altcoin implodes or does something bad it brings down everything even though it had nothing to do with bitcoin. It should not be that way but unfortunately it is. Most people in crypto are stupid and don't understand this. The fundamentals of bitcoin is still as sound as it ever was.
Hopefully one day soon bitcoin will decouple from the rest of the crap coin casino and the stock market. Hopefully all the crap coins will be banned or deemed securities which is what they are. All the crap that happens in the market has nothing to do with bitcoin. But people who invest in altcoins are stupid and just want to gamble and play the altcoin casino for short term gains but usually end up losing their shirt.
Topic: This should be bullish for Bitcoin and it's PoW - page 2. (Read 256 times)
legendary
Activity: 2422
Merit: 1083
Leading Crypto Sports Betting & Casino Platform
Isn't the ban on staking in the USA supposed to be bullish for bitcoin and other proof of work crypto projects? I only heard not to stake on centralized exchanges but not the same for mining in the USA, so if you are in America you are free to fire on your Asic miners. All Hail to PoW algorithm.
Well, unfortunately, based on how I understand things to be or work, any ban in bitcoin and cryptocurrencies in general send a negative message to the brains of individuals, it be clouds them that it becomes extremely difficult to see the brighter side of such a ban, so personally myself, I am not surprised the way investors perceived the US stands on staking, and besides, bitcoin also can be staked on several platforms, the current correction in the price of bitcoin, which have also affected the entire market might be due to investors unstaking their bitcoins from centralized platform and selling - this is my assumptions. 
Since Bitcoin has nothing to do with staking, the ban has no positive impact on Bitcoin and its holders. Wherever you see any form of Bitcoin staking, be careful, or better yet, run away, because they are purely centralized and can steal all staked funds anytime in the form of freezing.
Any cryptocurrency restriction won't actually benefit Bitcoin. It's because the ruling is against cryptocurrency and is not at all bullish. Consequently, Bitcoin won't respond favorably in any case. When they are banned from staking, you would think that investors would go to Bitcoin. But due to decentralization, they would stake any other way. Bitcoin does not have a staking system, therefore we shouldn't get too worked up about the restriction on staking.
Isn't the ban on staking in the USA supposed to be bullish for bitcoin and other proof of work crypto projects?
How is that supposed to be, they ban bitcoin or not isn't a determinant for its adoption since it's a decentralized network that works with the blockchain technology, there are no other proof of work that is recognized aside bitcoin, other cryptocurrencies were PoS as long as they were centralized, other crypto projects uses smart contracts and the likes but bitcoin mining is basically strict on PoW.
Isn't the ban on staking in the USA supposed to be bullish for bitcoin and other proof of work crypto projects? I only heard not to stake on centralized exchanges but not the same for mining in the USA, so if you are in America you are free to fire on your Asic miners. All Hail to PoW algorithm.
Jump to: