NFT

CointestMod

#Bitcoin Pro-Arguments Below is an argument written by a deleted user which won 1st place in the Bitcoin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > **First-Mover Advantage and The Network Effect** > > Bitcoin is currently the most popular cryptocurrency and market cap leader by a long shot. The [Bitcoin dominance chart](https://www.coingecko.com/en/global-charts) shows that Bitcoin represents 60% of the entire cryptocurrency market cap. This has increased from 40% in 2020. > > Bitcoin is the **gateway**. People start out with Bitcoin before checking out other cryptocurrencies. They're likely going to keep holding any Bitcoin they bought along the way. > > People will flock to whichever product has the largest user base. For half a decade, Bitcoin was almost synonymous with cryptocurrency. The Network Effect creates a **positive feedback loop** and makes Bitcoin's lead grow even more. > > If Bitcoin, Bitcoin Cash, and Litecoin were all released simultaneously, Bitcoin would lose to its PoW competitors because its competitors have cheaper fees with higher throughput. But the reality is that Bitcoin's first-mover advantage gave it such a huge head start that the others can't catch up. > > **Has the largest block reward for security** > > Due to its high price, Bitcoin has a huge [block reward of 6.5 BTC](https://www.coingecko.com/en/coins/bitcoin/bitcoin-halving) (halves every 4 years) or ~$180k per block. This gives it the security lead because its block reward is so much bigger than other PoW cryptocurrencies, which attracts more miners. > > **Anti-censorship** > > Bitcoin provides partial censorship-resistance against sanctions and totalitarian government restrictions. It's much harder to prevent Bitcoin transactions than it is to prevent financial transactions at a centralized bank. [Legal sex workers](https://www.theverge.com/2021/8/24/22639356/onlyfans-ceo-tim-stokely-sexually-explicit-content-ban-banks) (e.g. Onlyfans) and [marijuana industries](https://www.leadingretirement.com/blog/cannabis-banking) are blocked from using traditional financial services due to social stigma. Even though they can operate legally, many TradFi banks avoid operating with them. Bitcoin provides those workers a way to transfer funds around that censorship. > > **Avoids Hyperinflation**: As long as governments keep causing high inflation through money-printing, people will run to Bitcoin for safety, which pumps up Bitcoin's price. > > **Considered a commodity by both SEC and CFTC**: Bitcoin is the only cryptocurrency that both the SEC and CFTC have openly agreed is a commodity. And the CFTC is much less lawsuit-happy than the SEC. > > **Legal tender**: El Salvador has shown (despite some technical mishaps) that Bitcoin can be successfully used as legal tender for a country. > > **Ordinals provide utility** > > Even though Bitcoin Maxis hate Ordinals, this new protocol gives utility to Bitcoin and adds demand. NFT bros are using it as an **on-chain data storage layer** for their own blockchains (e.g. Ethereum, Stack). This has an advantage over IPFS since IPFS is stored in centralized databases instead of on-chain. > > This generates more fees for Bitcoin miners. Transaction fees have finally [risen to ~20 sats/vByte](https://mempool.space/graphs/mempool) on days with high Ordinals activity like Mar 22-24. This gives hope that there may be sufficient demand for Bitcoin as an on-chain data-storage layer even after the block subsidy eventually disappears due to halvings. > > **Pseudonymous**: Bitcoin's UTXO transactions can provide moderately-high levels of obscurity. A single wallet can produce a near-unlimited amount of addresses, and there's no way to link them unless they interact with each other. It's much harder to trace UTXO-based wallets than Account-based wallets because the former creates new UTXO addresses with each transaction while Account-based blockchain wallets typically reuse the same account. > > **Lightning transactions are near-instant and cheap** > > As long as you're spending small amounts of Bitcoin, you can use the Lightning network to make near-instant, sub-$0.01 transactions. Many Lightning nodes for merchants are connected to 3rd-party services that convert between cash and Lightning, making it easy to transfer Bitcoins. Consumers usually don't have to care about rebalancing issues since they're only spending small amounts. > > And the [total capacity of the Lightning Network](https://bitcoinvisuals.com/ln-capacity) in BTC keeps increasing steadily. > > **Cannot be counterfeited**: Cash can be counterfeited, but you can't fake Lightning transactions. Merchants have to deal with counterfeit cash in many markets around the world. > > **Bitcoin has a very strong community of die-hard supporters** > > A huge portion of Bitcoin supporters have become Bitcoin Maxis who will keep spreading their arguments, regardless of accuracy. Because Bitcoin is a gateway cryptocurrency, crypto newbies will encounter it first and gobble up these narratives because they don't have the experience to know their flaws. And they're very convincing when you keep repeating them in an echo chamber: > > * Maximum supply cap of 21M BTC vs Fed's money printer > * Amazing past-performance gains vs fiat > * Works as Store of Value (despite volatility) > * Had a "fair launch" without an ICO > * Is not a risky altcoin > * Is decentralized (based on largest number of miners) > * Has instant payments via the Lightning Network > > **Ultimately, people are mainly using crypto for speculative investing and long-term Store of Value. Most people don't care about technology, Defi, or utility. Thus Bitcoin is sufficient for their investment needs.** > > And since cryptocurrency value is largely based on a Keynesian Beauty Contest (i.e. you buy not based on your own value, but on what you think others are going to buy), people are going to keep buying Bitcoin as long as the investment narrative holds. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/100p7vq/top_coins_bitcoin_proarguments_january_2023/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin) to find arguments on this topic in other rounds.

CointestMod

#Solana Con-Arguments Below is a Solana con-argument written by a deleted user. > **Solana Cons** > > **Centralization** > > An estimated 1,700 validator nodes support Solana. If a single entity or collection of entities comes to possess a sizable portion of the SOL token supply, the Solana network may become unduly concentrated. The network's decentralization may suffer because Solana requires more specialized equipment to join and is unable to draw a sizable user base. There is a high concentration of stakes among validators, with 22 validators controlling 33% of total staked SOL. Accordingly, if 22 validators conspired, the network might theoretically come to an end. > > **Network Outages** > > * September 14,2021: 15 Hours of outage as bots capitalized on an IDO on raydium > > * January 2022: The whole month faced partial outages of 6-12 per day due to high demand of NFT minting and defi usage. > > * April 30, 2022: 7 Hour outage due to a DDOS attack by bots > > **Solana, the token** > > The token distribution on Solana reveals that the top 0.04% of addresses, or around 3,000 addresses outright, hold 88.5% of the current outstanding SOL. Along with early investors and the founding team, these wallets also contain staking pools and exchanges. 11.7 million SOL are included in the biggest wallet. Less than 1% of the outstanding SOL is held by the bottom 98.6% of wallets on Solana. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Solana) to find submissions for other topics.

CointestMod

#Solana Pro-Arguments Below is a Solana pro-argument written by a deleted user. > **Solana Pros** > > **Proof-of-History** > > The development and use of the Proof-of-History consensus method, which enables Solana to achieve extraordinarily fast network speeds, is the most notable competitive advantage of the Solana blockchain. The sole purpose of this method was to raise TPS more than leading networks like Ethereum or Bitcoin. Due to the time normally needed to obtain consensus and properly organize the blockchain in response to time passing, proof of history helps other networks' scalability issues. > > **Transaction fees** > > Solana has a block size of 20,000 transactions and block time of 0.4 seconds. The Solana network offers an exceptionally cheap transaction cost of just 1c per transaction, which is made possible by the greater block time and block size. Solana is now among the blockchains with the lowest transaction costs because to this cost. > > **NFTs** > > Currently, NFTs account for a sizable portion of why individuals use these networks. The major factor behind Solana's NFT ecosystem's rapid expansion is the network's scalability, which enables it to handle transactions effectively. Ethereum can only handle 15 transactions per second, whereas Solana can process 50,000. This is important information for users to know because sluggish network speed also equates to expensive costs. The freedom that artists enjoy with their NFT works on Solana is enormous. This is mostly caused by the other blockchains' technical shortcomings. Fast processing times and affordable prices enable artists to produce works that, for instance, would be too expensive to mint on Ethereum. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Solana) to find submissions for other topics.

CointestMod

#Ethereum Pro-Arguments Below is an argument written by Nostalg33k which won 2nd place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > ​ > > # Ethereum: Use-case driving value > > Ethereum is a very valuable Blockchain. This blockchain is driven by innovation and utility. To understand what makes Ethereum such a valuable eco-system we need to discuss the inner-working of Ethereum. > > # Introduction: Ethereum explained > > According to [Ethereum.org](https://Ethereum.org) : > > >What is Ethereum? > > Ethereum is a technology that's home to digital money, global payments, and applications. The community has built a booming digital economy, bold new ways for creators to earn online, and so much more. It's open to everyone, wherever you are in the world – all you need is the internet. > > So the topic driving this discussion is badly worded. If we are discussing top coins then we should discuss Ether and not Ethereum. Since Ethereum is such an interesting ecosystem I will treat this argument as a pro Ethereum post. I'd love to see the discussion focused on Ether next time. > > Ethereum is not managed by a single entity nor managed by the Ethereum Foundation but is managed through a decentralized process explained [In their governance page](https://ethereum.org/en/governance/). > > Time for some metrics: Ethereum is currently trading north of 1750 $ and has a circulating supply of 122 millions ETH for a Market cap at around 218 billions > > Let's go back to the quote: "Ethereum is a technology that's home to digital money". This point is important. Ether is not the only coin which is using the Ethereum blockchain. A lot of value on the Ethereum Blockchain is not in Ether coins. This will be discussed further down. Ethereum is also home to global payment, so Ether and other cryptocurrencies can be used to settle transactions between P2P in a permissionless way. > > Applications called Dapps exist on the blockchain. We are going to discuss all of these aspects. We are also going to tackle NFTs on the Ethereum Blockchain. > > Ethereum is also completed by L2s. These are going to be mentioned. > > Ethereum has been switched from POW to Asic resistant POW to POS. These are going to be discussed. > > ​ > > # Ethereum: Home to digital money. > > Ethereum strength is that the blockchain is home to many cryptocurrencies. If gas fees are paid in Ether, many tokens have billions circulating in the Ethereum ecosystem. A quick look at Etherscans reveal how strong the ethereum ecosystem is. > > According to [EtherScan](https://etherscan.io/tokens) the blockchain has 40 Billions $ in USDT, 46 Billions in USDC and 7 Billions $ in Wrapped BTC. The market cap of Ether may be around 200 billions but the on chain value of assets in the Ethereum Blockchain is far higher. > > All of these USDT and USDC are stablecoins which can be used for transactions. In fact, it can be used for P2P transaction in a permissionless way but also to buy stuff from businesses. [Here is a list of business accepting USDT (which exists in the Ethereum blockchain)](https://nowpayments.io/blog/businesses-accepting-tether) and [Here is a list of business accepting directly Ethereum](https://www.analyticsinsight.net/top-10-companies-accepting-ethereum-as-a-payment-method-in-2022/) > > These classical transactions are not the only use of the Ethereum Blockchain: Dapps and NFT are also thriving ! > > # Ethereum: Home to dapps and NFTs > > Ethereum is home to a lot of different applications: Marketplaces, exchanges, defi, wallets, games... > > These application are different because they are called dapps: > > >A decentralised application (DApp,\[1\] dApp,\[2\] Dapp, or dapp) is an application that can operate autonomously, typically through the use of smart contracts, that run on a decentralized computing, blockchain or other distributed ledger system.\[3\] > > [Wikipedia Dapps](https://en.wikipedia.org/wiki/Decentralized_application) > > To give a glance to these dapps you can head to this website tho be wary of the first dapp listed being an advertisement for shady businesses (I haven't found a better website to source dapps) [Here you go](https://dappradar.com/rankings/protocol/ethereum/1) > > While I don't believe in the current state of NFT technology being viable (See my write up in favor of NFT speaking about the future of this technology), we have to take into account that even after losing 60% of their value there is still 3 Billions USD in NFTs in the Ethereum Blockchain [Source](https://cointelegraph.com/news/ethereum-nft-collections-lost-nearly-60-of-their-market-cap-in-2022-report) > > # Ethereum: Layers of goodness. > > Ethereum can be a bit expensive for people, this is why it was layered. There are side chains existing just to be cheaper than Ethereum while offering bridges to and from Ethereum. For example Polygon. > > >Polygon is a Layer-2 scaling solution created to help bring mass adoption to the Ethereum platform. It caters to the diverse needs of developers by providing tools to create scalable decentralized applications (dApps) that prioritize performance, user experience (UX), and security. > > So if you want to be able to evaluate Ethereum you need to go and read about the biggest layer 2 pro and cons. > > [A small list of Ethereum layer 2 given by Ethereum.org](https://ethereum.org/en/layer-2/) > > # Ethereum: Evolve to thrive > > Ethereum has been a rapidly evolving ecosystem. It has seen the evolution of mining from GPU to Asic. In order to not become reliant on Asic mining, Ethereum was made Asic resistant. This created other problems: A pressure on the GPU market but also a concern for energy efficiency. In order to improve the footprint but also reduce the fees, Ethereum was made to transistion from POW to POS. Proof of stake is a protocol in which you need to stake coins to run a node in the network. > > This shows an ability to look ahead and to tackle challenges. > > # Conclusion: Ethereum is a rapidly evolving ecosystem which has a lot of value in it. Since Ether is their native coin, all of this impacts Ether's value. > > This is where we go back to the TOP COIN aspect of this write up. Everything I have said has an impact on the value and use of Ether. If you believe in the future of the Ethereum Blockchain, you can go ahead and look a bit more into Ether. If you don't believe in the Ethereum Blockchain then you should try to find a competitor. > > Just know that Ethereum is trying to become deflationary and that their economic outlook seems on par with good cryptos. > > Ethereum is one of the techs of the future and this essay has shown some of the most important aspects of it. > > Have fun ! ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/100p71b/top_coins_ethereum_proarguments_january_2023/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

skyHIGH-1

Launched NFT as a desperation to help finance his legal fees, which TRUMP is getting inundated and may never recover financially . In addition, NFT’s is a part of crypto. It does not reflect or speak for the entire block chain universe.

Yodan

He is pro grift. Anything he can sell he sells. Gold shoes, golf courses, NFT, diapers, steaks, etc. He has no loyalty or limit involving cash flow. He would sell his mother's bones if he remembered where she was buried. Shameless gross man not worth the paper on the ballot.

Sibshops

Anyone in NFT knows that people selling sell to themselves to lure suckers in. There's no genuine interest there.

BioRobotTch

You cannot really send antagonistic transactions on Algorand. Each node runs the smart contracts before sending the transactions on to other nodes. Any that fail are not distributed to other nodes. That means any that would error never get distributed to more than one node saving resources. The plus side is that the users never have to pay fees for these either nor do they need to be recorded on chain saving blockspace too. End result is a buttery smooth user experience. Right now some of the bigger apps on Algorand abstract the blockchain away from the users so they don't even realise they are usng a blockchain. Hesab pay (Afgan e-payments system with 100,000+users ), TravelX (NFT plane tickets marketplace, 5M passagers served so far) both hide the blockchain from their user don't even know they are using one.

Luppoz

The NFTs are not on-chain, only the address to the NFT. If aws shut down your precious NFT servers, what then? not that this is likely, but still, they are not on-chain! You are the one without knowledge here. This is how powerful your precious solana blockchain is, go along and hail it or start learning. Then again, it doesn't really matter for solanas usecase, it stops there. Sure, it's a blockchain....

lordsamadhi

Ethereum, NFT's, and "crypto"? These are the things holding back the adoption of a Bitcojn Standard. They are not good for "crypto". If these are the things Trump is about, I'm voting for anyone else. Bitcoin ONLY or GTFO.

Luppoz

They have NFT transactions?

Generic_Globe

Let me tell you something I learned. You gotta sell this shit. Crypto isnt going to revolutionize the world. It's mostly run by charlatans. Take a profit from your coins and move on the next thing. I have been holding coins for 7 years now. My goal is to sell all my coins and move everything to VOO. The thing holding me up is I want to buy a property in Texas and Florida so I can claim residency there and not pay state taxes. I am at 7 digits right now and the taxes are brutal. On that same note, I am so tired of crypto not doing anything worth anything. I dont care anymore for whatever buzz words they throw at me. DEX, NFT, DeFi all that shit doesn't solve any real world problem.

djduni

Mark my words, BTC will easily 10x its lows of 23-25k last year. Easily. Before November of next year in fact. Ethereum is not anything but a coat-tail rider to Bitcoin so I agree with that take. Especially since Ordinals have been introduced and taken the wind out of the sails of NFT collections on ETH everywhere. BAYC won't have ANYTHING on whatever the big name NFT collection turns out to be in the Ordinals department. I am hoping my troll wizards of the every color robes turns out to be the one, but I am a slow creator so not hoping too hard.

CointestMod

#Solana Con-Arguments Below is a Solana con-argument written by Nostalg33k. > # Solana: A tale of broken trust and VCs > > Solana, an infamous name living as the shadow of it former self [Currently hovering at a price a bit higher than 10% of the ATH](https://coinmarketcap.com/currencies/solana/) which is a shame for any investor. In this small analysis we are going to discuss why Solana is a failure on multiple fronts. From Security, to stability. Let's delve into Solana. > > ​ > > # From outages to outrages > > Solana has been transformed into a laughingstock by the repeating outages the network has known. While it is claimed that [Solana is all about speed, with 400 millisecond block times. And as hardware gets faster, so does the network.](https://Solana.com) The Solana network has suffered [6 outages in the month of January](https://fortune.com/2022/01/25/solana-founder-anatoly-yakovenko-crypto-crash-blockchain-instability/) Stability has not been the strong suit of the network. This has sparked outrage against the network but ALSO against some exchanges because these outages are leading big dumps on the markets: [When speculator sell and lead to a 12 % dump](https://www.cnbc.com/2022/06/01/solana-suffered-its-second-outage-in-a-month-sending-price-plunging.html) the most dedicated investor are left holding their bags on the blockchain. > > Every discussion about Solana as an investment should discuss the possibility of outages and swings. > > # The Main Use case is Bullshit > > The main use case for Solana is to sell useless no common sense NFTs. While there are good use case for NFT technology, art and music nfts as they exist are just a passing fad and will need to evolve or disappear. Being a place linked mainly with this technology is very risky and shows a devotion to speculation and not to common sense use cases. > > ​ > > ​ > > # Security: Hacks, hacks, hacks and VCs > > The Solana ecosystem has known a lot of failures. The fact is that value is on the ETH side of the crypto ecosystem so bridges are required. When the Wormhole bridge saw a hack leading to 120000 ETH being minted out of the bridge leading to a loss which would be currently valued at 160 Millions. > > When this happened Jump Crypto, a subsidiary from Jump Capital, found 320 Millions to buy ETH and replace the missing funds. This allows us to understand two possibilities. > > 1) Jump Crypto did this from the kindness of their heart > > 2) Jump Crypto did this because they are heavily invested in Solana and control a large part of the SOL moving around. > > Now this may be speculation BUT recently Jump Crypto was said to be working to overhaul the open source SOL protocol for nodes. This leads to doubt about the legitimacy of the Solana Fundation and who controls the project. > > [https://protos.com/jump-crypto-forced-to-save-solana-with-320m-bailout-of-its-own-company/](https://protos.com/jump-crypto-forced-to-save-solana-with-320m-bailout-of-its-own-company/) > > [https://thedefiant.io/jump-crypto-solana-overhaul](https://thedefiant.io/jump-crypto-solana-overhaul) > > [https://www.reuters.com/technology/crypto-network-wormhole-hit-with-possible-320-mln-hack-2022-02-03/](https://www.reuters.com/technology/crypto-network-wormhole-hit-with-possible-320-mln-hack-2022-02-03/) > > ​ > > # Conclusion: A lacking use case, a profit motive from VCs and a past of lacking security and stability must lead you to high caution. > > VCs are here to make money and they must be holding bags of Solana. If you buy some SOL you are putting yourself into their games and are now dancing with them. While NFT is the future for so many reasons (intellectual property, administration and so much more) the current use case are laughable and security will be at the forefront of gouvernements or IP management companies sending patents through your blockchain. > > Being seen as an Eth killer, Solana is far from making the cut. I'd advise extreme caution. Please don't get burn't by this project. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Solana) to find submissions for other topics.

CointestMod

#Solana Pro-Arguments Below is a Solana pro-argument written by a deleted user. > #PROs > > This is the Pros section of [my analysis on Solana](https://np.reddit.com/r/MPlankton/comments/vk42tn/solana_research_june_2022/) > > ##Low Transaction Fees > > Solana has very low transaction fees at about $0.0002 / transaction. They could still increase the fee schedule by ~40x before exceeding penny in cost. That's mainly because the fees are subsidized by staking rewards paid to powerful validators, which then contribute to ongoing SOL token [inflation of ~7%](https://messari.io/screener/supply-and-marketcap-EB1755C2) as of 2022. > > ##Moderately-high TPS > > The true TPS limit of Solana over the past year after subtracting invalid transactions and vote transactions is [about 400-600](https://dashboard.chaincrunch.cc/public/dashboard/cc7a0d94-7f70-46f4-aae4-2f8810430931#theme=night). It's not anywhere close to their marketed throughput of 50K TPS, but it's still moderately-high for a smart contract network. > > ##Centralization is not as bad as the reputation > > Solana has a very bad reputation for being centralized as **SQL**ana. It's actually not that centralized. There are currently 1900 validators, and the Nakamoto Consensus for shutting down the Solana network (needs 33% staked) is [currently 33 validators](https://solanabeach.io/validators). > > On the other hand, there's almost no information about the identity of these validators, so it's still possible they're mostly centrally-owned by the foundation. We just don't know. > > ##Outage and stability issues likely to be resolved by 2 upcoming updates > > The days of making fun of Solana for their outages could be coming to an end. Solana is working on [2 major updates](https://decrypt.co/103106/solana-new-gas-fees) that are meant to mitigate outages and provide stability to the network. > > **QUIC** replaces UDP for Solana's IP and Transport layer protocols. [QUIC] (https://en.wikipedia.org/wiki/QUIC) provides flow control, allowing nodes to throttle incoming traffic when there's too much from both intentional and unintentional DoS attacks. > > **Localized Fee Prioritization** allows Solana to dynamically charge higher fees for specific high-demand transactions. When a dApp or NFT project is congesting the network, the fee will rise for that app without affecting the rest of the network. This is a really cool solution I'd love to see other networks copy. > > ##Lots of DeFi projects > > There are a ton of DeFi projects on Solana. It has 39 DeFi projects above $1M in TVL. [DeFiLlama shows Solana at $1.4B in TVL](https://defillama.com/chains), which puts it between Tron and Arbitrum at #6. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Solana) to find submissions for other topics.

betterluckythengood

Any research done on this so called grift? His high demand original NFT set was sold for $99 and was open to all, that set has traded above that price since day 1 by a good amount. That's all.

PuG3_14

I still dont know what an NFT is. I always thought it was a Pyramid Scheme

LacCoupeOnZees

No doubt. The does and stakes aren’t being sold as investment commodities though so it’s kind of different. Shit, I might be in the market for a Trump bobblehead if they get the hair right. Digital trading cards with AI generated images of Trump in a Superman uniform though? Everything about that screams budget. Actually cheaper to drop the NFT collection than the bobbleheads

sluggz9

You don’t have to be an idiot or poor to not understand crypto. A recent study asked 10000 people in the U.S. basic crypto questions and all but 2% couldn’t answer basic concepts of btc, stable coins, or NFT’s. Just look on the sub and see how often people are losing money to scams, and bull shit. By definition, small businesses have less employees and less revenue. Who is willing to go out and there and learn crypto which is uninsured, and lacks basic resources for learning it without falling for scams, with already slim profit margins? My guess would be not many.

002_timmy

I ironically bought a Trump Arrest NFT thinking I’d be able to flip it quickly. Turns out, I can sell until December 2024

ccModBot

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LacCoupeOnZees

To be fair, if you’re buying any NFT at this point you’re a moron falling for a scam. But this doesn’t look like billionaire moves for Trump. Looks like shitty Instagram influencer moves

coinfeeds-bot

tldr; Donald Trump mocked the Biden-themed BODEN token during a special NFT event at Mar-a-Lago, commenting on its $240 million market cap as a lot of money for a coin he wouldn't invest in. Following his remarks, BODEN's value rose by 18%, reaching a market cap of approximately $243.4 million. Meanwhile, the Trump-themed MAGA (TRUMP) coin has a higher market cap of $290.9 million. The article highlights the resurgence of presidential-themed meme coins and their significant growth, particularly in 2024, with TRUMP coin experiencing a 52,442.7% profit since its launch seven months prior. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

Cyberbolek

NFT is a scam.

unforgiven990

they will, mostly through RWA projects. i bought ORIGO NFT by Degen Distillery and now i am waiting for their TGE to get my airdrop of DRINK tokens. NFTs are not going anywhere it's just that the hype is not the same anymore.

bankssc

But would you buy an NFT of Biden shidding and farting?

Technical-Day9217

And then he created an NFT collection which made him millions :D

ECore

Those Trump NFT's.....SO hot right now.

BMB281

Trump NFTs are a money laundering scam. Just look at the NFT’s transaction histories

deezy_mtg

Never liked Jimmy Kimmel after he played dead while that lady accepted an award. It was her first big award and it really stole her thunder. Besides, the "suckers" who minted these NFT's are up 4X. Let crypto holders catch a win on occasion.

Odd_Warthog_1965

In spite of who he is, at this rate, seems easier to trust the soulless lover of money who has been selling his own dumb NFT’s on this issue, AND also trust Elizabeth Warren, Biden, and Gensler on what they have shown to be their disdain for crypto and love of banks. Yes, there are and were other important issues, but the balance of the Supreme Court is irreparably fucked, and I can’t trust that liberals will ever have the political backbone let alone unity necessary to accomplish anything meaningful other than to get people riled up over social issues they won’t fix anyway. I have to accept their words, acts, and omissions as proof of this.

coinfeeds-bot

tldr; OKX Ventures, the investment arm of OKX, has announced an investment in Wild Forest, a web3 free-to-play real-time strategy game. Wild Forest features PvP battles, a token-driven economy, and has shown significant market impact with 18,300 daily active users, 61,900 monthly active users, over 104,800 installations, and more than 1 million NFTs minted since its Beta launch. The game, backed by notable entities like Sky Mavis and Animoca Brands, sold out its early NFT Sale in just 7 minutes, indicating strong market enthusiasm and potential for growth in the Web3 gaming space. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

coinfeeds-bot

tldr; Talk-show host Jimmy Kimmel criticized collectors of Donald Trump’s NFT projects, calling them 'suckers' and 'freaks', as the floor price of Trump Digital Trading Cards doubled to $434. The price increase coincided with Trump hosting an event at Mar-a-Lago for NFT collectors, where he made pro-crypto comments. Kimmel mocked the event and the collectors, highlighting the high costs for some NFTs and the perks offered, such as pieces of a suit Trump wore. This occurred amidst a political divide on crypto regulation, with Trump criticizing the SEC's stance against crypto. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

CointestMod

#NFT Con-Arguments Below is a NFT con-argument written by a deleted user. > ####**Anti-NFT backlash** > > By now, we need accept that most communities, especially the technology and gaming communities, absolutely hate NFTs. Even the crypto community is quite skeptical about the practical use cases for NFTs. > > There are literally subs banning users for having a reddit avatar NFT (like the 196 subreddit) even though they were given away freely. Gaming companies like [Ubisoft were absolutely vilified](https://arstechnica.com/gaming/2022/04/ubisofts-first-nft-experiment-was-a-dumpster-fire/) when they mentioned exploring NFTs in future games. [EA had to backtrack](https://www.protocol.com/bulletins/ea-ceo-nfts-blockchain-backtrack) after their own high-profile backlash. Gamers in particular hate Pay-to-Win and Pay-to-Earn systems, which are commonly used in the design scheme for NFT-based games. > > **It's risky for companies to endorse NFTs when their customers are going out of the way to avoid them.** NFTs will likely remain a very niche product for the near future. > > ####**Does not provide direct ownership** > > NFTs are records of transactions and don't provide direct ownership. They can hold metadata, which are often just glorified links and pointers to other sources. For example, an NFT could point to the URI of an image. **But there's nothing preventing others from creating new NFTs that point to the same image. Owning the NFT does not mean you own the referenced image.** It's up to the people, communities, and front-end services involved with the NFT to recognize that the NFT represents ownership of the object it links to. > > Similarly, NFTs that point to real objects like property also have to work within the confines of the regulatory system. If the regulatory system does recognize the the NFT, then trading that NFT doesn't transfer actual property rights. In that situation, the NFT becomes an unnecessary extra step. > > There are many [stolen artwork](https://www.theverge.com/2022/5/17/23077174/deviantart-protect-nft-crypto-stolen-art-blockchain-detection) that get created as NFTs. Many projects like Bored Apes have near-identical copycats of each other. For example, the official collection of MetaWaifus is on Solana, but there are 4 other (likely stolen) collections on Polygon's PoS network sold through Opensea that are duplicates of the original. Centralized marketplaces have to spend effort blocking stolen work, and it's a complicated game of whack-a-mole. > > ####**Uses centralized front-end services** > > NFTs require front-end services to provide an interface for customers. For example, games could easily cost 10s to 100s of millions of dollars and take many years to develop. **If the centralized front-end platform goes down or chooses to no longer recognize the NFTs, it could be cost-prohibitive and time-prohibitive for the community to rebuild it.** If that happens, the NFT will become worthless. Intellectual Property rights could also prevent the objects represented by the NFTs to be re-established without considerably changing how they look or work. > > ####**Reliant on blockchains** > > NFTs are stored on blockchains, so they carry all the risks and downsides to using them. **NFTs are at risk of theft, hacks, bugs, and user errors.** If you lose access to an NFT, there is no undo button or recovery system--it's permanently lost. Users will need to become familiar with a complex system of wallets, gas tokens, safety, and will shoulder the risk of owning NFTs. > > **Networks also can have high transaction and smart contract fees** for minting and transferring the NFTs. For example, BAYC NFT's Otherside sale brought in $253M of revenue, but cost $181M in Ethereum gas fees [[Source](https://qz.com/2161193/bored-ape-yacht-clubs-nfts-cost-181-million-in-gas-fees/)]. Even on the very-cheap Polygon PoS network, it cost 0.1-0.2 cents to mint a reddit NFT. They're cheap individually, but if you need to mint and transfer millions of these for the 400M+ monthly active redditors, the costs quickly add up. > > **Most blockchains are very storage-limited**, so the objects that the NFTs represent are often stored off-chain either on centralized databases or on IPFS, leading to the additional risk of dead links. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_NFT) to find submissions for other topics.

CointestMod

#NFT Pro-Arguments Below is a NFT pro-argument written by Blendzi0r. > First published on: [30.11.2021](https://np.reddit.com/r/CryptoCurrency/comments/pfonjt/rcc_cointest_general_concepts_nft_proarguments/hmpq1xo/) > > Last edited on: 23.02.2022 > > NFTs, Non-Fungible Tokens, are tokens that have unique hash IDs. This makes it possible to always indicate the original one even if there are countless NFTs that look exactly the same. > > Think of it this way: you have two exactly the same copies of George Orwiell’s “1984”. But one of them is signed by the author. This makes the book with the signature worth much more than the other one. And it makes it non-fungible in a way: the signature is unique ergo the book is unique (or at least unique compared to all the books which weren’t signed by the author). But signatures can be faked, you might say. True, but it’s impossible to fake “signatures” on blockchain: blockchain stores all the data about minted (created) NFTs and this data cannot be altered. Therefore, **NFTs are an incredibly reliable tool when it comes to verifying ownership and legitimacy of various assets**, e.g. land, pieces of art, licenses, certificates and so on. > > In the case of blockchains like Ethereum, which are decentralized and well-established, you can be sure that [NFTs that you create on such blockchains are secure](https://www.artshub.com.au\/news/opinions-analysis/nfts-the-pros-and-cons-262268-2370580/) and no one can remove or modify them. > > What’s more, [NFTs can have their own smart contracts](https://medium.com/lansaar/nfts-and-smart-contracts-6c4c5516d5a0). You can e.g. add a smart contract for royalties – each time your NFT is sold/used, you will receive a royalty payment that you set beforehand yourself. And, again, the fact that **everything is visible on blockchain** makes it very transparent for any transacting party – everyone can take a look at/inspect the smart contract. An no one can alter it without your consent. > > NFTS can also be used for storing important data. Not only is the data safe on the blockchain from physical damage, but it also cannot be secretly modified since every change is recorded forever on the blockchain. > > Another interesting use-case for NFTs is **ticketing**. Any party organizing events can use NFTs to sell tickets that will be easily verifiable and impossible to fake. NFTs also eliminate the need of using third-party services, like e.g. Ticketmaster, and help to avoid paying high fees. > > NFTs suffer bad publicity due to bad actors (sometimes literally bad actors – looking at you, John Cena and Lindsay Lohan) who take advantage of the NFT hype, but in reality they are a very useful application of blockchain. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_NFT) to find submissions for other topics.

CointestMod

NFT {{pros}} & {{cons}} with related info are in the collapsed comments below.

CointestMod

* Relevant Cointest topics: [Ethereum](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_ethereum), [Cardano](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_cardano), [Solana](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_solana), [Algorand](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_algorand). * Relevant subreddits: r/CCNFT, r/Ethereum, r/Cardano, r/CosmosNetwork. * [NFT tutorial](https://reddit.com/r/CryptoCurrency/comments/lzjuf7/nft_madness_what_they_are_and_what_they_are_not/). * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/1co2p98/trump_nft_prices_double_as_jimmy_kimmel_calls/?sort=controversial). Doesn't work on mobile.

SpacecaseCat

One month later, speaking at MaraLago: "The crypto, I've always said, very unstable. Not reliable. Bad for business. Unlike TrumpCoin. The best NFT. Bigger than BitCoin. Buy now folks."

coinfeeds-bot

tldr; The memecoin Jeo Boden (BODEN), named after a misspelling of U.S. President Joe Biden, experienced a significant price surge in the past 24 hours following a public statement by Donald Trump. Despite Trump expressing disapproval of the investment when asked about it at the Trump Cards NFT Gala, the coin's market cap reached $251 million, with a price increase of almost 10% and a 20.65% surge in trading volume. Trump's comments on cryptocurrencies have been closely watched, given his critical stance on virtual currencies and the Federal Reserve's digital dollar plans. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

boss---man

Trump put his money where his mouth is with his NFT’s. I’d vote for him

YogurtclosetTall2558

It's hard to say for sure about memecoin stability on Solana. Community matters, like you said with Popcat. But sometimes even big market cap coins like Mew/Bome can take a hit when Solana dips. Nano-cap coins are even riskier. Yewif might be doing well now, but that could change fast. Call of Voyd by Mystic Games does seem interesting - it's a mobile RPG with NFT and character customization features. However, it's a new project. Definitely DYOR before jumping into any memecoin, including Call of Voyd, to understand their tokenomics and gameplay.

LaTunaTime

He had his own hugely successful NFT project so no surprise here. King move with the support.

swampjester

You want my honest advice? Don't work in bitcoin. The jobs are underpaid, because there's very few viable business models in crypto that don't involve scamming. The software is largely free and open source. Apart from hardware, exchanges, and a handful of financial services, nobody in bitcoin can easily make money, ethically. That's why people go into the crypto/altcoin/NFT industries; there's so much easy money to be made selling garbage to gullible noobs. Your best bet is work a fiat job and save in bitcoin.

FGTRTDtrades

Captain NFT is at it again.

Hitchie_Rawtin

Allows cheap multichain interoperability without a custodial bridge - it's a smart contract in control of an address on the other chain - (BTC, ETH both implemented SOL on testnet right now, ERC20s being tested), can act as an extra security layer for dapps interacting with other chains using its Internet Identity (secured via biometrics), inhibits tracking across the internet because each new dapp account gets its own new address anchored to your principal ID but obfuscated on the dapp side, allows websites to be built with no need for a firewalls because the site is inside a smart contracts, removes risk of ransomware attacks and DNS spoofing attacks due to each node hosting a site needing to be hacked all at once in under 1 second and every move after that also having to be finalised across those nodes in the same timeframe, can act as an oracle because of HTTPS outcalls, doesn't require users to spend money to use dapps due to a reverse gas model where the devs who own the site pay, can host data so now people don't need to hope that their NFT receipt will continue to pint to a website that might not exist in weeks, months or years to come - ingress is a bit more expensive but egress is much cheaper than AWS so user generated video sites will be useless until they find a way to reduce that cost but anything with static content will be far cheaper to run, can run AI within smart contracts and has a partnership with Singularity which I presume will transfer over to the new agreement between Singularity, Fetch and Ocean where they're joining forces to share research/data. If you do want to transact across the IC yourself rather than within a dev-funded dapp then costs are about $0.006, sub-cent. That's just off the top of my head, there might be more. Ignore anybody who says it's a "killer" of other chains, it's designed to augment every other chain.

RhoidRaging

Na he’s never been “very anti crypto”. This is false, and shame it’s getting upvoted so much. He’s never been very pro aside from the NFT scam, but definitely not “very anti”. Hate the guy all you want, but lying doesn’t help anyone.

coinfeeds-bot

tldr; Former U.S. President Donald Trump has announced a new approach to cryptocurrency, particularly in campaign financing for the 2024 presidential election, by expressing openness to accepting cryptocurrency donations. Trump criticized President Joe Biden's understanding of the crypto landscape and pledged to create a favorable environment for crypto businesses in the U.S. He also cautioned against excessive investment in speculative assets like meme coins. This shift in Trump's stance on crypto, including his previous launch of a successful NFT collection, marks a significant intersection between cryptocurrency and mainstream politics. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

detifiai

Honestly, the "flippening" of Ethereum overtaking Bitcoin in market cap feels more like crypto folklore than an imminent event. Bitcoin's stronghold as 'digital gold' is solid with its market dominance. However, Ethereum shouldn't be overlooked for investment. Its backbone of smart contracts and the expansive DeFi and NFT ecosystems make it essential to the broader blockchain innovation landscape. With Ethereum 2.0 aiming to resolve current scalability and cost issues, its potential for growth can't be ignored. It's not just about overtaking Bitcoin but recognizing Ethereum's distinct value in the crypto world.

TheFlamingoPower

He is a man who loves business, I have no doubt that we will be better off in the crypto with him. Maybe even NFT explodes if voted, you know he has his own collection. Also, a good collection of Origo Origin can be very useful, because the drink will be airdropped soon, and they are partners with Google, who knows, maybe Trump is also involved.

fan_of_hakiksexydays

He flip flopped. He was very anti-crypto. Then when he needed money he suddenly jumped on the NFT hype train selling them. And became pro crypto when he saw democrats started to be anti-crypto, just to do the opposite. And democrats started to be anti-crypto when republicana like Ted Cruz started warming up to crypto, just to do the opposite.

Cybernaut-Neko

Is his wife going to squirt out NFT's again ?

coinfeeds-bot

tldr; The memecoin 'Jeo Boden' (BODEN), a joke cryptocurrency named after a misspelling of U.S. President Joe Biden's name, surged by as much as 25% after former President Donald Trump commented on it during a Q&A session at the Trump Cards NFT Gala held at his Mar-a-Lago resort. Trump's remark, 'I don't like that investment,' came after an attendee mentioned the coin and its $240 million market capitalization. Following Trump's comment, BODEN's price increased, trading around $0.40, up approximately 15%. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

DoinIt989

Blue chip NFTs have already been rewarded with airdrops. Some newcomers on Blast chain are also echoing this approach along with Blast itself toying the possibility of "jackpot" wins for NFT holders. That's the main "value prop" here. I don't think NFTs in general will comeback, but there will always be certain collections that moon just like memecoins.

KodineDreamin

100% If there's an event/concert/conference, an NFT is as valuable as a collectible. Especially in today's digital and social media world where everyone wants to show off their 'collectibles'.

Dark_Raiden_

What do you think about NFT marketplace coins? I'm expecting NFTs to pick up again when we return to extreme greed; they will be airdropped into addresses holding memes. I'm just skpetical on governance tokens as a whole and don't know how this will correlate to price of coins like RARI

CointestMod

#Ethereum Pro-Arguments Below is an argument written by Nostalg33k which won 2nd place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > ​ > > # Ethereum: Use-case driving value > > Ethereum is a very valuable Blockchain. This blockchain is driven by innovation and utility. To understand what makes Ethereum such a valuable eco-system we need to discuss the inner-working of Ethereum. > > # Introduction: Ethereum explained > > According to [Ethereum.org](https://Ethereum.org) : > > >What is Ethereum? > > Ethereum is a technology that's home to digital money, global payments, and applications. The community has built a booming digital economy, bold new ways for creators to earn online, and so much more. It's open to everyone, wherever you are in the world – all you need is the internet. > > So the topic driving this discussion is badly worded. If we are discussing top coins then we should discuss Ether and not Ethereum. Since Ethereum is such an interesting ecosystem I will treat this argument as a pro Ethereum post. I'd love to see the discussion focused on Ether next time. > > Ethereum is not managed by a single entity nor managed by the Ethereum Foundation but is managed through a decentralized process explained [In their governance page](https://ethereum.org/en/governance/). > > Time for some metrics: Ethereum is currently trading north of 1750 $ and has a circulating supply of 122 millions ETH for a Market cap at around 218 billions > > Let's go back to the quote: "Ethereum is a technology that's home to digital money". This point is important. Ether is not the only coin which is using the Ethereum blockchain. A lot of value on the Ethereum Blockchain is not in Ether coins. This will be discussed further down. Ethereum is also home to global payment, so Ether and other cryptocurrencies can be used to settle transactions between P2P in a permissionless way. > > Applications called Dapps exist on the blockchain. We are going to discuss all of these aspects. We are also going to tackle NFTs on the Ethereum Blockchain. > > Ethereum is also completed by L2s. These are going to be mentioned. > > Ethereum has been switched from POW to Asic resistant POW to POS. These are going to be discussed. > > ​ > > # Ethereum: Home to digital money. > > Ethereum strength is that the blockchain is home to many cryptocurrencies. If gas fees are paid in Ether, many tokens have billions circulating in the Ethereum ecosystem. A quick look at Etherscans reveal how strong the ethereum ecosystem is. > > According to [EtherScan](https://etherscan.io/tokens) the blockchain has 40 Billions $ in USDT, 46 Billions in USDC and 7 Billions $ in Wrapped BTC. The market cap of Ether may be around 200 billions but the on chain value of assets in the Ethereum Blockchain is far higher. > > All of these USDT and USDC are stablecoins which can be used for transactions. In fact, it can be used for P2P transaction in a permissionless way but also to buy stuff from businesses. [Here is a list of business accepting USDT (which exists in the Ethereum blockchain)](https://nowpayments.io/blog/businesses-accepting-tether) and [Here is a list of business accepting directly Ethereum](https://www.analyticsinsight.net/top-10-companies-accepting-ethereum-as-a-payment-method-in-2022/) > > These classical transactions are not the only use of the Ethereum Blockchain: Dapps and NFT are also thriving ! > > # Ethereum: Home to dapps and NFTs > > Ethereum is home to a lot of different applications: Marketplaces, exchanges, defi, wallets, games... > > These application are different because they are called dapps: > > >A decentralised application (DApp,\[1\] dApp,\[2\] Dapp, or dapp) is an application that can operate autonomously, typically through the use of smart contracts, that run on a decentralized computing, blockchain or other distributed ledger system.\[3\] > > [Wikipedia Dapps](https://en.wikipedia.org/wiki/Decentralized_application) > > To give a glance to these dapps you can head to this website tho be wary of the first dapp listed being an advertisement for shady businesses (I haven't found a better website to source dapps) [Here you go](https://dappradar.com/rankings/protocol/ethereum/1) > > While I don't believe in the current state of NFT technology being viable (See my write up in favor of NFT speaking about the future of this technology), we have to take into account that even after losing 60% of their value there is still 3 Billions USD in NFTs in the Ethereum Blockchain [Source](https://cointelegraph.com/news/ethereum-nft-collections-lost-nearly-60-of-their-market-cap-in-2022-report) > > # Ethereum: Layers of goodness. > > Ethereum can be a bit expensive for people, this is why it was layered. There are side chains existing just to be cheaper than Ethereum while offering bridges to and from Ethereum. For example Polygon. > > >Polygon is a Layer-2 scaling solution created to help bring mass adoption to the Ethereum platform. It caters to the diverse needs of developers by providing tools to create scalable decentralized applications (dApps) that prioritize performance, user experience (UX), and security. > > So if you want to be able to evaluate Ethereum you need to go and read about the biggest layer 2 pro and cons. > > [A small list of Ethereum layer 2 given by Ethereum.org](https://ethereum.org/en/layer-2/) > > # Ethereum: Evolve to thrive > > Ethereum has been a rapidly evolving ecosystem. It has seen the evolution of mining from GPU to Asic. In order to not become reliant on Asic mining, Ethereum was made Asic resistant. This created other problems: A pressure on the GPU market but also a concern for energy efficiency. In order to improve the footprint but also reduce the fees, Ethereum was made to transistion from POW to POS. Proof of stake is a protocol in which you need to stake coins to run a node in the network. > > This shows an ability to look ahead and to tackle challenges. > > # Conclusion: Ethereum is a rapidly evolving ecosystem which has a lot of value in it. Since Ether is their native coin, all of this impacts Ether's value. > > This is where we go back to the TOP COIN aspect of this write up. Everything I have said has an impact on the value and use of Ether. If you believe in the future of the Ethereum Blockchain, you can go ahead and look a bit more into Ether. If you don't believe in the Ethereum Blockchain then you should try to find a competitor. > > Just know that Ethereum is trying to become deflationary and that their economic outlook seems on par with good cryptos. > > Ethereum is one of the techs of the future and this essay has shown some of the most important aspects of it. > > Have fun ! ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/100p71b/top_coins_ethereum_proarguments_january_2023/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestMod

#Solana Con-Arguments Below is a Solana con-argument written by a deleted user. > **Solana Cons** > > **Centralization** > > An estimated 1,700 validator nodes support Solana. If a single entity or collection of entities comes to possess a sizable portion of the SOL token supply, the Solana network may become unduly concentrated. The network's decentralization may suffer because Solana requires more specialized equipment to join and is unable to draw a sizable user base. There is a high concentration of stakes among validators, with 22 validators controlling 33% of total staked SOL. Accordingly, if 22 validators conspired, the network might theoretically come to an end. > > **Network Outages** > > * September 14,2021: 15 Hours of outage as bots capitalized on an IDO on raydium > > * January 2022: The whole month faced partial outages of 6-12 per day due to high demand of NFT minting and defi usage. > > * April 30, 2022: 7 Hour outage due to a DDOS attack by bots > > **Solana, the token** > > The token distribution on Solana reveals that the top 0.04% of addresses, or around 3,000 addresses outright, hold 88.5% of the current outstanding SOL. Along with early investors and the founding team, these wallets also contain staking pools and exchanges. 11.7 million SOL are included in the biggest wallet. Less than 1% of the outstanding SOL is held by the bottom 98.6% of wallets on Solana. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Solana) to find submissions for other topics.

CointestMod

#Solana Pro-Arguments Below is a Solana pro-argument written by a deleted user. > #PROs > > This is the Pros section of [my analysis on Solana](https://np.reddit.com/r/MPlankton/comments/vk42tn/solana_research_june_2022/) > > ##Low Transaction Fees > > Solana has very low transaction fees at about $0.0002 / transaction. They could still increase the fee schedule by ~40x before exceeding penny in cost. That's mainly because the fees are subsidized by staking rewards paid to powerful validators, which then contribute to ongoing SOL token [inflation of ~7%](https://messari.io/screener/supply-and-marketcap-EB1755C2) as of 2022. > > ##Moderately-high TPS > > The true TPS limit of Solana over the past year after subtracting invalid transactions and vote transactions is [about 400-600](https://dashboard.chaincrunch.cc/public/dashboard/cc7a0d94-7f70-46f4-aae4-2f8810430931#theme=night). It's not anywhere close to their marketed throughput of 50K TPS, but it's still moderately-high for a smart contract network. > > ##Centralization is not as bad as the reputation > > Solana has a very bad reputation for being centralized as **SQL**ana. It's actually not that centralized. There are currently 1900 validators, and the Nakamoto Consensus for shutting down the Solana network (needs 33% staked) is [currently 33 validators](https://solanabeach.io/validators). > > On the other hand, there's almost no information about the identity of these validators, so it's still possible they're mostly centrally-owned by the foundation. We just don't know. > > ##Outage and stability issues likely to be resolved by 2 upcoming updates > > The days of making fun of Solana for their outages could be coming to an end. Solana is working on [2 major updates](https://decrypt.co/103106/solana-new-gas-fees) that are meant to mitigate outages and provide stability to the network. > > **QUIC** replaces UDP for Solana's IP and Transport layer protocols. [QUIC] (https://en.wikipedia.org/wiki/QUIC) provides flow control, allowing nodes to throttle incoming traffic when there's too much from both intentional and unintentional DoS attacks. > > **Localized Fee Prioritization** allows Solana to dynamically charge higher fees for specific high-demand transactions. When a dApp or NFT project is congesting the network, the fee will rise for that app without affecting the rest of the network. This is a really cool solution I'd love to see other networks copy. > > ##Lots of DeFi projects > > There are a ton of DeFi projects on Solana. It has 39 DeFi projects above $1M in TVL. [DeFiLlama shows Solana at $1.4B in TVL](https://defillama.com/chains), which puts it between Tron and Arbitrum at #6. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Solana) to find submissions for other topics.

CointestMod

#Solana Con-Arguments Below is a Solana con-argument written by a deleted user. > **Solana Cons** > > **Centralization** > > An estimated 1,700 validator nodes support Solana. If a single entity or collection of entities comes to possess a sizable portion of the SOL token supply, the Solana network may become unduly concentrated. The network's decentralization may suffer because Solana requires more specialized equipment to join and is unable to draw a sizable user base. There is a high concentration of stakes among validators, with 22 validators controlling 33% of total staked SOL. Accordingly, if 22 validators conspired, the network might theoretically come to an end. > > **Network Outages** > > * September 14,2021: 15 Hours of outage as bots capitalized on an IDO on raydium > > * January 2022: The whole month faced partial outages of 6-12 per day due to high demand of NFT minting and defi usage. > > * April 30, 2022: 7 Hour outage due to a DDOS attack by bots > > **Solana, the token** > > The token distribution on Solana reveals that the top 0.04% of addresses, or around 3,000 addresses outright, hold 88.5% of the current outstanding SOL. Along with early investors and the founding team, these wallets also contain staking pools and exchanges. 11.7 million SOL are included in the biggest wallet. Less than 1% of the outstanding SOL is held by the bottom 98.6% of wallets on Solana. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Solana) to find submissions for other topics.

CointestMod

#Solana Pro-Arguments Below is a Solana pro-argument written by a deleted user. > **Solana Pros** > > **Proof-of-History** > > The development and use of the Proof-of-History consensus method, which enables Solana to achieve extraordinarily fast network speeds, is the most notable competitive advantage of the Solana blockchain. The sole purpose of this method was to raise TPS more than leading networks like Ethereum or Bitcoin. Due to the time normally needed to obtain consensus and properly organize the blockchain in response to time passing, proof of history helps other networks' scalability issues. > > **Transaction fees** > > Solana has a block size of 20,000 transactions and block time of 0.4 seconds. The Solana network offers an exceptionally cheap transaction cost of just 1c per transaction, which is made possible by the greater block time and block size. Solana is now among the blockchains with the lowest transaction costs because to this cost. > > **NFTs** > > Currently, NFTs account for a sizable portion of why individuals use these networks. The major factor behind Solana's NFT ecosystem's rapid expansion is the network's scalability, which enables it to handle transactions effectively. Ethereum can only handle 15 transactions per second, whereas Solana can process 50,000. This is important information for users to know because sluggish network speed also equates to expensive costs. The freedom that artists enjoy with their NFT works on Solana is enormous. This is mostly caused by the other blockchains' technical shortcomings. Fast processing times and affordable prices enable artists to produce works that, for instance, would be too expensive to mint on Ethereum. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Solana) to find submissions for other topics.

CointestMod

#NFT Con-Arguments Below is a NFT con-argument written by a deleted user. > ####**Anti-NFT backlash** > > By now, we need accept that most communities, especially the technology and gaming communities, absolutely hate NFTs. Even the crypto community is quite skeptical about the practical use cases for NFTs. > > There are literally subs banning users for having a reddit avatar NFT (like the 196 subreddit) even though they were given away freely. Gaming companies like [Ubisoft were absolutely vilified](https://arstechnica.com/gaming/2022/04/ubisofts-first-nft-experiment-was-a-dumpster-fire/) when they mentioned exploring NFTs in future games. [EA had to backtrack](https://www.protocol.com/bulletins/ea-ceo-nfts-blockchain-backtrack) after their own high-profile backlash. Gamers in particular hate Pay-to-Win and Pay-to-Earn systems, which are commonly used in the design scheme for NFT-based games. > > **It's risky for companies to endorse NFTs when their customers are going out of the way to avoid them.** NFTs will likely remain a very niche product for the near future. > > ####**Does not provide direct ownership** > > NFTs are records of transactions and don't provide direct ownership. They can hold metadata, which are often just glorified links and pointers to other sources. For example, an NFT could point to the URI of an image. **But there's nothing preventing others from creating new NFTs that point to the same image. Owning the NFT does not mean you own the referenced image.** It's up to the people, communities, and front-end services involved with the NFT to recognize that the NFT represents ownership of the object it links to. > > Similarly, NFTs that point to real objects like property also have to work within the confines of the regulatory system. If the regulatory system does recognize the the NFT, then trading that NFT doesn't transfer actual property rights. In that situation, the NFT becomes an unnecessary extra step. > > There are many [stolen artwork](https://www.theverge.com/2022/5/17/23077174/deviantart-protect-nft-crypto-stolen-art-blockchain-detection) that get created as NFTs. Many projects like Bored Apes have near-identical copycats of each other. For example, the official collection of MetaWaifus is on Solana, but there are 4 other (likely stolen) collections on Polygon's PoS network sold through Opensea that are duplicates of the original. Centralized marketplaces have to spend effort blocking stolen work, and it's a complicated game of whack-a-mole. > > ####**Uses centralized front-end services** > > NFTs require front-end services to provide an interface for customers. For example, games could easily cost 10s to 100s of millions of dollars and take many years to develop. **If the centralized front-end platform goes down or chooses to no longer recognize the NFTs, it could be cost-prohibitive and time-prohibitive for the community to rebuild it.** If that happens, the NFT will become worthless. Intellectual Property rights could also prevent the objects represented by the NFTs to be re-established without considerably changing how they look or work. > > ####**Reliant on blockchains** > > NFTs are stored on blockchains, so they carry all the risks and downsides to using them. **NFTs are at risk of theft, hacks, bugs, and user errors.** If you lose access to an NFT, there is no undo button or recovery system--it's permanently lost. Users will need to become familiar with a complex system of wallets, gas tokens, safety, and will shoulder the risk of owning NFTs. > > **Networks also can have high transaction and smart contract fees** for minting and transferring the NFTs. For example, BAYC NFT's Otherside sale brought in $253M of revenue, but cost $181M in Ethereum gas fees [[Source](https://qz.com/2161193/bored-ape-yacht-clubs-nfts-cost-181-million-in-gas-fees/)]. Even on the very-cheap Polygon PoS network, it cost 0.1-0.2 cents to mint a reddit NFT. They're cheap individually, but if you need to mint and transfer millions of these for the 400M+ monthly active redditors, the costs quickly add up. > > **Most blockchains are very storage-limited**, so the objects that the NFTs represent are often stored off-chain either on centralized databases or on IPFS, leading to the additional risk of dead links. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_NFT) to find submissions for other topics.

CointestMod

#NFT Pro-Arguments Below is a NFT pro-argument written by a deleted user. > ####**Niche following** > > By now, we need accept that most communities, especially the technology and gaming communities, hate NFTs. Even the crypto community is quite skeptical about the practical use cases for NFTs, and they will likely remain a **very niche product** for the foreseeable future. > > NFTs are similar to everything else that attract criticism from more practical shoppers because they have little practical use. In this aspect, they are similar to Rolex watches, gacha waifus, game character skins, anime car decals, expensive designer t-shirts, brand-name medicine, etc. Even though these products are expensive and have little practical value, **they still make their owners happy**. And who are we to criticize others for spending money that goes towards increasing happiness. > > Some game items like character skins, tradeable gacha items, and Steam/game marketplace items could easily be turned into NFTs without changing gameplay, so there is an existing market for them. > > ####**Decentralized backend, allowing more auditability and access** > > NFTs can be stored on public, immutable blockchains. This gives their users more flexibility in controlling how they transfer and interact with them. It also provides an auditable record that anyone else could build an API to visualize or track the NFTs. **The community no longer has to rely on the front-end service provider for API tools since the blockchain already provides public access to the data source.** Communities can build markets and other visualizers for their NFTs on their own without needing additional permissions. > > Keeping NFTs on open ledgers is also useful for tracking unethical practices like wash sales and money laundering. > > ####**Automatic Royalties** > > NFTs can be set up as smart contracts that provide automatic royalties to the original creator. There is no need for an intermediary, who can often take a huge cut of the creator profits. > > ####**Potentially lower fees** > > Ethereum NFTs are insanely expensive. It can easily cost tens to hundreds of dollars to mint a Layer 1 Ethereum NFT even when there's little congestion. > > However, many NFT collections have now moved over to cheaper networks like Polygon, Solana, and Ethereum Layer 2 networks. For example, the Reddit collectible avatars only cost around $0.002 each to bulk-mint on Polygon. That's $50 total to mint the 27000 NFTs currently available for [my avatar set](https://polygonscan.com/address/0x466a330887bDF62D53f968EA824793150f07762e). Reddit doesn't have to pay for the backend of keeping track of all these NFTs or ongoing costs of concerning they're transferred, so it's orders of magnitude cheaper than it was on Ethereum. > > Most NFT marketplaces only charge 1-2% for listing fees, which is much cheaper than many traditional digital art marketplaces that charge 5-20% (e.g. ArtStation, DeviantArt). After all, they only need to provide the front end, not the backend or customer support for transfers. Even gaming communities like Steam charge a 5-10% commission fee for item trades. **People can skip marketplace fees by trading directly on the blockchain.** ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_NFT) to find submissions for other topics.

CointestMod

* Relevant Cointest topics: [Ethereum](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_ethereum), [Cardano](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_cardano), [Solana](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_solana), [Algorand](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_algorand). * Relevant subreddits: r/CCNFT, r/Ethereum, r/Cardano, r/CosmosNetwork. * [NFT tutorial](https://reddit.com/r/CryptoCurrency/comments/lzjuf7/nft_madness_what_they_are_and_what_they_are_not/). * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/1cnacg1/between_days_in_court_donald_trump_will_meet/?sort=controversial). Doesn't work on mobile.

CointestMod

NFT {{pros}} & {{cons}} with related info are in the collapsed comments below.

coinfeeds-bot

tldr; Purchasers of a 'Mugshot' NFT released by Donald Trump are set to meet the former U.S. President at his Mar-a-Lago residence in Florida. This meeting is part of the benefits for buying the digital trading cards featuring Trump's mug shot from his surrender at the Fulton County Jail in Georgia. Trump, who faces multiple legal challenges, announced that buyers of at least 47 of these NFTs would be invited to the dinner. The event's details were not officially listed on Trump's website, and it's unclear if cryptocurrencies or NFTs will be discussed during the dinner. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

you_cant_see_me2050

The AI narrative is definitely hot, and the growth of AI tokens is impressive. While I grabbed some dips on blue chips like BTC, ETH, FET, RNDR and SOL, I'm also keeping an eye on SightAI especially with the potential use of FHE for secure processing It's early days, but secure AI could be crucial as AI adoption grows. Vitalik talked about the FHE tech. RWAs with fractional NFTs ownerships is gaining tractions as well. Degen Distillery's NFT spirits are a cool concept. What I think is to keep the funds diversified into 2-3 hottest trends instead of just 1. The money flows through them in a cyclical manner.

Anxious_Afternoon350

ECAT's fair launch on PinkSale marks the beginning of its journey, offering a decentralized ecosystem with staking, a DEX exchange, NFT market, and NFT games. $ECAT #BSC @ElonCatFinance Tg https://t.me/eloncat_finance_chat

CointestMod

#Bitcoin Pro-Arguments Below is an argument written by a deleted user which won 1st place in the Bitcoin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > **First-Mover Advantage and The Network Effect** > > Bitcoin is currently the most popular cryptocurrency and market cap leader by a long shot. The [Bitcoin dominance chart](https://www.coingecko.com/en/global-charts) shows that Bitcoin represents 60% of the entire cryptocurrency market cap. This has increased from 40% in 2020. > > Bitcoin is the **gateway**. People start out with Bitcoin before checking out other cryptocurrencies. They're likely going to keep holding any Bitcoin they bought along the way. > > People will flock to whichever product has the largest user base. For half a decade, Bitcoin was almost synonymous with cryptocurrency. The Network Effect creates a **positive feedback loop** and makes Bitcoin's lead grow even more. > > If Bitcoin, Bitcoin Cash, and Litecoin were all released simultaneously, Bitcoin would lose to its PoW competitors because its competitors have cheaper fees with higher throughput. But the reality is that Bitcoin's first-mover advantage gave it such a huge head start that the others can't catch up. > > **Has the largest block reward for security** > > Due to its high price, Bitcoin has a huge [block reward of 6.5 BTC](https://www.coingecko.com/en/coins/bitcoin/bitcoin-halving) (halves every 4 years) or ~$180k per block. This gives it the security lead because its block reward is so much bigger than other PoW cryptocurrencies, which attracts more miners. > > **Anti-censorship** > > Bitcoin provides partial censorship-resistance against sanctions and totalitarian government restrictions. It's much harder to prevent Bitcoin transactions than it is to prevent financial transactions at a centralized bank. [Legal sex workers](https://www.theverge.com/2021/8/24/22639356/onlyfans-ceo-tim-stokely-sexually-explicit-content-ban-banks) (e.g. Onlyfans) and [marijuana industries](https://www.leadingretirement.com/blog/cannabis-banking) are blocked from using traditional financial services due to social stigma. Even though they can operate legally, many TradFi banks avoid operating with them. Bitcoin provides those workers a way to transfer funds around that censorship. > > **Avoids Hyperinflation**: As long as governments keep causing high inflation through money-printing, people will run to Bitcoin for safety, which pumps up Bitcoin's price. > > **Considered a commodity by both SEC and CFTC**: Bitcoin is the only cryptocurrency that both the SEC and CFTC have openly agreed is a commodity. And the CFTC is much less lawsuit-happy than the SEC. > > **Legal tender**: El Salvador has shown (despite some technical mishaps) that Bitcoin can be successfully used as legal tender for a country. > > **Ordinals provide utility** > > Even though Bitcoin Maxis hate Ordinals, this new protocol gives utility to Bitcoin and adds demand. NFT bros are using it as an **on-chain data storage layer** for their own blockchains (e.g. Ethereum, Stack). This has an advantage over IPFS since IPFS is stored in centralized databases instead of on-chain. > > This generates more fees for Bitcoin miners. Transaction fees have finally [risen to ~20 sats/vByte](https://mempool.space/graphs/mempool) on days with high Ordinals activity like Mar 22-24. This gives hope that there may be sufficient demand for Bitcoin as an on-chain data-storage layer even after the block subsidy eventually disappears due to halvings. > > **Pseudonymous**: Bitcoin's UTXO transactions can provide moderately-high levels of obscurity. A single wallet can produce a near-unlimited amount of addresses, and there's no way to link them unless they interact with each other. It's much harder to trace UTXO-based wallets than Account-based wallets because the former creates new UTXO addresses with each transaction while Account-based blockchain wallets typically reuse the same account. > > **Lightning transactions are near-instant and cheap** > > As long as you're spending small amounts of Bitcoin, you can use the Lightning network to make near-instant, sub-$0.01 transactions. Many Lightning nodes for merchants are connected to 3rd-party services that convert between cash and Lightning, making it easy to transfer Bitcoins. Consumers usually don't have to care about rebalancing issues since they're only spending small amounts. > > And the [total capacity of the Lightning Network](https://bitcoinvisuals.com/ln-capacity) in BTC keeps increasing steadily. > > **Cannot be counterfeited**: Cash can be counterfeited, but you can't fake Lightning transactions. Merchants have to deal with counterfeit cash in many markets around the world. > > **Bitcoin has a very strong community of die-hard supporters** > > A huge portion of Bitcoin supporters have become Bitcoin Maxis who will keep spreading their arguments, regardless of accuracy. Because Bitcoin is a gateway cryptocurrency, crypto newbies will encounter it first and gobble up these narratives because they don't have the experience to know their flaws. And they're very convincing when you keep repeating them in an echo chamber: > > * Maximum supply cap of 21M BTC vs Fed's money printer > * Amazing past-performance gains vs fiat > * Works as Store of Value (despite volatility) > * Had a "fair launch" without an ICO > * Is not a risky altcoin > * Is decentralized (based on largest number of miners) > * Has instant payments via the Lightning Network > > **Ultimately, people are mainly using crypto for speculative investing and long-term Store of Value. Most people don't care about technology, Defi, or utility. Thus Bitcoin is sufficient for their investment needs.** > > And since cryptocurrency value is largely based on a Keynesian Beauty Contest (i.e. you buy not based on your own value, but on what you think others are going to buy), people are going to keep buying Bitcoin as long as the investment narrative holds. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/100p7vq/top_coins_bitcoin_proarguments_january_2023/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin) to find arguments on this topic in other rounds.

mvea

Nifty. Or is it… NFT…

marlioh

I love the way new projects are integrating into NFTs recently. They are under what chain/ecosystem? I also came across an amazing NFT based project which is very interesting. Degen distillery which their NFT is named ORIGO. They were minted under Base ecosystem which they sold out not too long after its launch. It is a RWA project which I look forward to in the future.

BashCo

Thanks for understanding and for your curiosity. The line is a little vague/arbitrary given that sometimes jt takes time to establish what kind of incentive structure L2s have. For example, RSK was originally supposed to be 1:1 but then they pivoted... I don't know if they have a separate token or if I'm misremembering. I consider Liquid to be an L2 even though it's federated. We've welcomed Liquid topics since forever primarily because it's 1:1, even though there is plenty of debate about Liquid's viability. We did entertain a lot of USDT chatter speculating that it would collapse any day, because we didn't want to remove that content if it turned out to be true. But currently we consider any tokens built on Liquid to be altcoins, including USDT and any NFT-type stuff they conjure up. This also goes for Ordinals on the main chain, which are purely speculative junk assets (or scams). While Lightning Network discussion is certainly encouraged, if assets on LN ever gain traction via RGB or something, those would likely be considered altcoins as well. I don't know enough about Fedimint to say for sure, but I will say that new stuff that's just coming online is usually permitted a grace period while we all figure out what it is and how it works. An example might be MimbleWimble, which was originally proposed as a Bitcoin privacy upgrade, then maybe just a sidechain, and eventually just another altcoin completely disconnected from Bitcoin.

CointestMod

#Chainlink Con-Arguments Below is a Chainlink con-argument written by etj103007. > **What is Chainlink?** > > *Disclaimer: I have interacted with smart contracts using Chainlink, though I don’t hold any of the token itself.* > > Chainlink is an oracle network, allowing smart contracts to receive (and send) external information. In short, it allows the blockchain to interact with the outside world. > > It is supported on many different blockchains, including the Ethereum Mainnet, its L2s, and sidechains such as Polygon. > > However, the Chainlink network itself is not a blockchain. Instead, it calls itself “blockchain-agnostic” meaning it can theoretically be used on any chain that wants to support it. > > Say you want send 10$ of a coin or token to a certain address every day. Well, if it was a stablecoin, it’d be pretty easy. But maybe it’s Ethereum, or WBTC, or some other token that fluctuates in price. As such, the amount of said token/coin worth 10$ always changes. Using Chainlink, you can avail the price of that token/coin, and be able to calculate the exact amount to send so that it equals 10$. There are many other situations just like this that the Chainlink network is used for. > > The Chainlink token serves a niche; it is used to pay the node operators for the data they deliver. Recently, LINK staking has launched with the advent of Chainlink Staking v0.1. This allows operators and users to stake their LINK to secure the network. > > Chainlink is used as an oracle by various DeFi protocols like AAVE, dYdX, Synthetix, by various NFT projects such as those created by the NBA, even decentralized insurance (Etherisc) and more. ([https://blog.chain.link/smart-contract-use-cases/](https://blog.chain.link/smart-contract-use-cases/)) > > # Pros of Chainlink (LINK) > > **1. Chainlink is secure, scalable, and reliable.** > > The nature of being a Chainlink node operator maintains these 3 qualities. Node operators are required to follow a set of guidelines for their nodes to ensure security. For example, nodes have to have backups for the nodes connecting to their data sources, snapshots of the chain for syncing, Ethereum to pay for gas, and more. > > Being decentralized and relying on the blockchain to secure the data feed transactions pretty much guarantees its security as well. > > Node operators also do their best to optimize the performance of their nodes and have also released multiple developments to increase scalability, such as the Off-Chain Reporting upgrade which has reduced operating costs by 90% ([https://blog.chain.link/off-chain-reporting-live-on-mainnet/](https://blog.chain.link/off-chain-reporting-live-on-mainnet/)) > > As said before, Chainlink (being based on smart contracts) can theoretically be used on any blockchain that wishes to adopt it. And with the use cases mentioned above ([https://blog.chain.link/smart-contract-use-cases/](https://blog.chain.link/smart-contract-use-cases/)), the only thing it needs is developers willing to adopt it into their respective blockchains. > > The Chainlink network also prides itself on its reliability. Being serviced by independent and reputable node operators such as Infura, Swisscom (telecom company), Huobi, Binance, and others, it relies on this network of operators to source the data needed onchain. As node operators need to stake their tokens as collateral, it also challenges them to offer good performance. > > For example, Chainlink held an “oracle Olympics” challenging operators to keep their uptime at 100% while undergoing several challenges. While 100% is impossible, the winners guaranteed 99.99%, ensuring that their nodes would be available for that amount of time while still surviving thru challenges. > > **2. Chainlink’s recently launched Chainlink Staking v.0.1 allows users to stake their tokens while securing the networks' nodes.** > > While currently only supporting the ETH/USD data feed on mainnet Ethereum, other data feeds will soon be supported. Meanwhile, Staking 0.2 is planned in 9-12 months and is expected to bring updates and developments to staking, and also allow withdrawals of currently staked LINK. > > Just like traditional staking, this version allows users to secure the network; unlike POS blockchains, Chainlink doesn’t run on a blockchain so stakers secure by raising alerts (if the oracle doesn’t report an update in 3 hours, for example). If the alerts are valid, they can earn LINK, improving the security of the network by penalizing unresponsive nodes. > > Reputation systems for nodes have also been developed, ensuring that nodes maintain their good performance and continue providing correct oracle prices. > > These two systems combined ensure every node performs well and allow users in the ecosystem to earn rewards while securing the network. > > **In conclusion:** > > Chainlink Network and its token will continue its developments in the next years as the demand for oracles increases across the crypto space. Its' progress in its tokenomics with the start of staking while simultaneously ensuring the performance of its nodes will be welcomed by users of the network. And as more and more chains support Chainlink, it won't be long until it'll be found everywhere in DeFi and other sectors. > > TLDR: LINK and its network is used in many sectors of crypto, is secure, scalable, and reliable, while its' tokenomics continue to progress. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Chainlink) to find submissions for other topics.

CointestMod

#Chainlink Pro-Arguments Below is a Chainlink pro-argument written by CreepToeCurrentSea. > Chainlink is a decentralized and open source Oracle network. Sergey Nazarov and Steve Ellis developed it in 2017. Chainlink's primary function is to act as a link between smart contracts on smart contracting platforms and external data sources, allowing smart contracts to securely access off-chain data feeds. In other words, it serves as a connection point between smart contracts and off-chain environments. Its native token LINK is used as a payment token as well as a work token. LINK is a payment token used to reward Chainlink node operators for providing Oracle services. As a work token, LINK can be staked as collateral by node operators to provide oracle services. > > # PROs > > **Unique Function** > > * As mentioned in the introduction, Chainlink serves as a link between smart contracts and off-chain environments. This means that Chainlink enables smart contracts to interact with real-world data and services that exist outside of blockchain networks, broadening the use-case and future potential of smart contracts beyond crypto and into the real world. It's also a very flexible system that can be configured so that Oracle networks can be made up of any combination of node operators and data providers, with different network parameters like update frequency, fee payment amounts, and so on. Instead of trying to be the next Bitcoin or the Ethereum Killer, Chainlink thrives on it's unique utilities and functions that it just acts as another layer in blockchain technology. > > **Various Use-Cases** > > * Chainlink has one of the best use cases in both crypto and in the real world. According to their website, its use cases include DeFi, Enterprise, Insurance, NFT, and Gaming. Social Implact. as well as Climate Markets. By acting as the omni-bridge of crypto, it enables real-world data to be transferred into blockchains/networks, and vice versa by allowing blockchains/networks to send information/data into real-world events. All of this occurs while remaining decentralized, tamper-resistant, and secure. > > **Staking** > > * Chainlink also provides a staking mechanism that "adds a new layer of cryptoeconomic security," according to their website. With this feature, network users can earn rewards for increasing the security guarantees and user assurances of Oracle services by backing them up with staked LINK tokens. As a result, the Chainlink network is more secure, participants are rewarded, and they can play an important role in the network's development. > > **Support for Web3** > > * Web3 is still a bit of a buzzword these days, as not many people understand it. Through their BUILD program, Chainlink assists Web3 projects by providing them with enhanced access to Chainlink services and technical support. This will benefit Chainlink in the long run as the future is likely to bring more technological advancements, as well as up and coming Web3 projects that require Chainlink's security and reliability. > > *Sources:* > > [*https://research.chain.link/whitepaper-v2.pdf*](https://research.chain.link/whitepaper-v2.pdf) > > [*https://en.wikipedia.org/wiki/Chainlink\_(blockchain)*](https://en.wikipedia.org/wiki/Chainlink_(blockchain)) > > [*https://chain.link/use-cases*](https://chain.link/use-cases) > > [*https://chain.link/economics/staking*](https://chain.link/economics/staking) > > [*https://chain.link/economics/build-program*](https://chain.link/economics/build-program) > > [*https://consensys.github.io/blockchainSecurityDB/projects/chainlink/*](https://consensys.github.io/blockchainSecurityDB/projects/chainlink/) ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Chainlink) to find submissions for other topics.

carveraye

BOATY Okay. I'm going to preface this by saying that I was an early investor in GALA. Like 4 years ago. I did a lot with what I invested. Like 100x... GALA games just recently let go of their entire Mirandus game team, and there is now a coin that represents this fantastic team and the vision they had for a MMORPG NFT game. The purpose of the coin is to invest in the completion of this game. This coin is called BOATY. The private sale ended yesterday, and now the public sale is going on. The coin is on the base chain. And if you do a Google search you'll be able to find it pretty easily.

UglyDuckling00000

ERC20i can be thought of as a new iteration of meme token with NFT-like qualities. After nearly 10 years of static meme’s, we FINALLY have a game changer that will soon transform the entire asset class. To put it in perspective: \-Total mktcap of Meme tokens: $50 B * total mktcap of ERC20i tokens: $10 M This is just 0.02% of total meme mktcap… If ERC20i gets to ONLY 1% - this is already 50X If ERC20i gets to 10% - congratulations you’ve made 500X need I say more ? This shit sells itself 

CointestMod

#Solana Con-Arguments Below is a Solana con-argument written by Nostalg33k. > # Solana: A tale of broken trust and VCs > > Solana, an infamous name living as the shadow of it former self [Currently hovering at a price a bit higher than 10% of the ATH](https://coinmarketcap.com/currencies/solana/) which is a shame for any investor. In this small analysis we are going to discuss why Solana is a failure on multiple fronts. From Security, to stability. Let's delve into Solana. > > ​ > > # From outages to outrages > > Solana has been transformed into a laughingstock by the repeating outages the network has known. While it is claimed that [Solana is all about speed, with 400 millisecond block times. And as hardware gets faster, so does the network.](https://Solana.com) The Solana network has suffered [6 outages in the month of January](https://fortune.com/2022/01/25/solana-founder-anatoly-yakovenko-crypto-crash-blockchain-instability/) Stability has not been the strong suit of the network. This has sparked outrage against the network but ALSO against some exchanges because these outages are leading big dumps on the markets: [When speculator sell and lead to a 12 % dump](https://www.cnbc.com/2022/06/01/solana-suffered-its-second-outage-in-a-month-sending-price-plunging.html) the most dedicated investor are left holding their bags on the blockchain. > > Every discussion about Solana as an investment should discuss the possibility of outages and swings. > > # The Main Use case is Bullshit > > The main use case for Solana is to sell useless no common sense NFTs. While there are good use case for NFT technology, art and music nfts as they exist are just a passing fad and will need to evolve or disappear. Being a place linked mainly with this technology is very risky and shows a devotion to speculation and not to common sense use cases. > > ​ > > ​ > > # Security: Hacks, hacks, hacks and VCs > > The Solana ecosystem has known a lot of failures. The fact is that value is on the ETH side of the crypto ecosystem so bridges are required. When the Wormhole bridge saw a hack leading to 120000 ETH being minted out of the bridge leading to a loss which would be currently valued at 160 Millions. > > When this happened Jump Crypto, a subsidiary from Jump Capital, found 320 Millions to buy ETH and replace the missing funds. This allows us to understand two possibilities. > > 1) Jump Crypto did this from the kindness of their heart > > 2) Jump Crypto did this because they are heavily invested in Solana and control a large part of the SOL moving around. > > Now this may be speculation BUT recently Jump Crypto was said to be working to overhaul the open source SOL protocol for nodes. This leads to doubt about the legitimacy of the Solana Fundation and who controls the project. > > [https://protos.com/jump-crypto-forced-to-save-solana-with-320m-bailout-of-its-own-company/](https://protos.com/jump-crypto-forced-to-save-solana-with-320m-bailout-of-its-own-company/) > > [https://thedefiant.io/jump-crypto-solana-overhaul](https://thedefiant.io/jump-crypto-solana-overhaul) > > [https://www.reuters.com/technology/crypto-network-wormhole-hit-with-possible-320-mln-hack-2022-02-03/](https://www.reuters.com/technology/crypto-network-wormhole-hit-with-possible-320-mln-hack-2022-02-03/) > > ​ > > # Conclusion: A lacking use case, a profit motive from VCs and a past of lacking security and stability must lead you to high caution. > > VCs are here to make money and they must be holding bags of Solana. If you buy some SOL you are putting yourself into their games and are now dancing with them. While NFT is the future for so many reasons (intellectual property, administration and so much more) the current use case are laughable and security will be at the forefront of gouvernements or IP management companies sending patents through your blockchain. > > Being seen as an Eth killer, Solana is far from making the cut. I'd advise extreme caution. Please don't get burn't by this project. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Solana) to find submissions for other topics.

CointestMod

#Solana Pro-Arguments Below is a Solana pro-argument written by a deleted user. > #PROs > > This is the Pros section of [my analysis on Solana](https://np.reddit.com/r/MPlankton/comments/vk42tn/solana_research_june_2022/) > > ##Low Transaction Fees > > Solana has very low transaction fees at about $0.0002 / transaction. They could still increase the fee schedule by ~40x before exceeding penny in cost. That's mainly because the fees are subsidized by staking rewards paid to powerful validators, which then contribute to ongoing SOL token [inflation of ~7%](https://messari.io/screener/supply-and-marketcap-EB1755C2) as of 2022. > > ##Moderately-high TPS > > The true TPS limit of Solana over the past year after subtracting invalid transactions and vote transactions is [about 400-600](https://dashboard.chaincrunch.cc/public/dashboard/cc7a0d94-7f70-46f4-aae4-2f8810430931#theme=night). It's not anywhere close to their marketed throughput of 50K TPS, but it's still moderately-high for a smart contract network. > > ##Centralization is not as bad as the reputation > > Solana has a very bad reputation for being centralized as **SQL**ana. It's actually not that centralized. There are currently 1900 validators, and the Nakamoto Consensus for shutting down the Solana network (needs 33% staked) is [currently 33 validators](https://solanabeach.io/validators). > > On the other hand, there's almost no information about the identity of these validators, so it's still possible they're mostly centrally-owned by the foundation. We just don't know. > > ##Outage and stability issues likely to be resolved by 2 upcoming updates > > The days of making fun of Solana for their outages could be coming to an end. Solana is working on [2 major updates](https://decrypt.co/103106/solana-new-gas-fees) that are meant to mitigate outages and provide stability to the network. > > **QUIC** replaces UDP for Solana's IP and Transport layer protocols. [QUIC] (https://en.wikipedia.org/wiki/QUIC) provides flow control, allowing nodes to throttle incoming traffic when there's too much from both intentional and unintentional DoS attacks. > > **Localized Fee Prioritization** allows Solana to dynamically charge higher fees for specific high-demand transactions. When a dApp or NFT project is congesting the network, the fee will rise for that app without affecting the rest of the network. This is a really cool solution I'd love to see other networks copy. > > ##Lots of DeFi projects > > There are a ton of DeFi projects on Solana. It has 39 DeFi projects above $1M in TVL. [DeFiLlama shows Solana at $1.4B in TVL](https://defillama.com/chains), which puts it between Tron and Arbitrum at #6. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Solana) to find submissions for other topics.

NorskKiwi

Hi team, I know the AMA has ended, but going to drop a question anyway. Would the r/cc team be interested in partnering up with existing live projects to grow the MOON ecosystem? Specifically I'm thinking that MOONs could be given to be airdropped to DeFi/NFT game participants, as well as used in a liquidity pairing/s with stable coins.

CointestMod

#Bitcoin Pro-Arguments Below is an argument written by a deleted user which won 1st place in the Bitcoin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > **First-Mover Advantage and The Network Effect** > > Bitcoin is currently the most popular cryptocurrency and market cap leader by a long shot. The [Bitcoin dominance chart](https://www.coingecko.com/en/global-charts) shows that Bitcoin represents 60% of the entire cryptocurrency market cap. This has increased from 40% in 2020. > > Bitcoin is the **gateway**. People start out with Bitcoin before checking out other cryptocurrencies. They're likely going to keep holding any Bitcoin they bought along the way. > > People will flock to whichever product has the largest user base. For half a decade, Bitcoin was almost synonymous with cryptocurrency. The Network Effect creates a **positive feedback loop** and makes Bitcoin's lead grow even more. > > If Bitcoin, Bitcoin Cash, and Litecoin were all released simultaneously, Bitcoin would lose to its PoW competitors because its competitors have cheaper fees with higher throughput. But the reality is that Bitcoin's first-mover advantage gave it such a huge head start that the others can't catch up. > > **Has the largest block reward for security** > > Due to its high price, Bitcoin has a huge [block reward of 6.5 BTC](https://www.coingecko.com/en/coins/bitcoin/bitcoin-halving) (halves every 4 years) or ~$180k per block. This gives it the security lead because its block reward is so much bigger than other PoW cryptocurrencies, which attracts more miners. > > **Anti-censorship** > > Bitcoin provides partial censorship-resistance against sanctions and totalitarian government restrictions. It's much harder to prevent Bitcoin transactions than it is to prevent financial transactions at a centralized bank. [Legal sex workers](https://www.theverge.com/2021/8/24/22639356/onlyfans-ceo-tim-stokely-sexually-explicit-content-ban-banks) (e.g. Onlyfans) and [marijuana industries](https://www.leadingretirement.com/blog/cannabis-banking) are blocked from using traditional financial services due to social stigma. Even though they can operate legally, many TradFi banks avoid operating with them. Bitcoin provides those workers a way to transfer funds around that censorship. > > **Avoids Hyperinflation**: As long as governments keep causing high inflation through money-printing, people will run to Bitcoin for safety, which pumps up Bitcoin's price. > > **Considered a commodity by both SEC and CFTC**: Bitcoin is the only cryptocurrency that both the SEC and CFTC have openly agreed is a commodity. And the CFTC is much less lawsuit-happy than the SEC. > > **Legal tender**: El Salvador has shown (despite some technical mishaps) that Bitcoin can be successfully used as legal tender for a country. > > **Ordinals provide utility** > > Even though Bitcoin Maxis hate Ordinals, this new protocol gives utility to Bitcoin and adds demand. NFT bros are using it as an **on-chain data storage layer** for their own blockchains (e.g. Ethereum, Stack). This has an advantage over IPFS since IPFS is stored in centralized databases instead of on-chain. > > This generates more fees for Bitcoin miners. Transaction fees have finally [risen to ~20 sats/vByte](https://mempool.space/graphs/mempool) on days with high Ordinals activity like Mar 22-24. This gives hope that there may be sufficient demand for Bitcoin as an on-chain data-storage layer even after the block subsidy eventually disappears due to halvings. > > **Pseudonymous**: Bitcoin's UTXO transactions can provide moderately-high levels of obscurity. A single wallet can produce a near-unlimited amount of addresses, and there's no way to link them unless they interact with each other. It's much harder to trace UTXO-based wallets than Account-based wallets because the former creates new UTXO addresses with each transaction while Account-based blockchain wallets typically reuse the same account. > > **Lightning transactions are near-instant and cheap** > > As long as you're spending small amounts of Bitcoin, you can use the Lightning network to make near-instant, sub-$0.01 transactions. Many Lightning nodes for merchants are connected to 3rd-party services that convert between cash and Lightning, making it easy to transfer Bitcoins. Consumers usually don't have to care about rebalancing issues since they're only spending small amounts. > > And the [total capacity of the Lightning Network](https://bitcoinvisuals.com/ln-capacity) in BTC keeps increasing steadily. > > **Cannot be counterfeited**: Cash can be counterfeited, but you can't fake Lightning transactions. Merchants have to deal with counterfeit cash in many markets around the world. > > **Bitcoin has a very strong community of die-hard supporters** > > A huge portion of Bitcoin supporters have become Bitcoin Maxis who will keep spreading their arguments, regardless of accuracy. Because Bitcoin is a gateway cryptocurrency, crypto newbies will encounter it first and gobble up these narratives because they don't have the experience to know their flaws. And they're very convincing when you keep repeating them in an echo chamber: > > * Maximum supply cap of 21M BTC vs Fed's money printer > * Amazing past-performance gains vs fiat > * Works as Store of Value (despite volatility) > * Had a "fair launch" without an ICO > * Is not a risky altcoin > * Is decentralized (based on largest number of miners) > * Has instant payments via the Lightning Network > > **Ultimately, people are mainly using crypto for speculative investing and long-term Store of Value. Most people don't care about technology, Defi, or utility. Thus Bitcoin is sufficient for their investment needs.** > > And since cryptocurrency value is largely based on a Keynesian Beauty Contest (i.e. you buy not based on your own value, but on what you think others are going to buy), people are going to keep buying Bitcoin as long as the investment narrative holds. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/100p7vq/top_coins_bitcoin_proarguments_january_2023/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin) to find arguments on this topic in other rounds.

Administrative_Shake

Yeah the NFT advertising doesn't help. Very cringey ads at the Miami GP this week.

scotty813

Your average American has no clue what crypto is. At best, they know that it is some form of digital asset, like NFT, and about 25% of America lost every penny they invest in Trump NFTs. 😉

Ofulinac

We are getting Moon NFT's??! Bullish!!

TheExpensiveGoogle

Every NFT is tied to a real physical part of their mining infrastructure. Purchasing an NFT is like purchasing a part of their business and every day you get your share of the mined BTC.

CointestMod

#Bitcoin Pro-Arguments Below is an argument written by a deleted user which won 1st place in the Bitcoin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > **First-Mover Advantage and The Network Effect** > > Bitcoin is currently the most popular cryptocurrency and market cap leader by a long shot. The [Bitcoin dominance chart](https://www.coingecko.com/en/global-charts) shows that Bitcoin represents 60% of the entire cryptocurrency market cap. This has increased from 40% in 2020. > > Bitcoin is the **gateway**. People start out with Bitcoin before checking out other cryptocurrencies. They're likely going to keep holding any Bitcoin they bought along the way. > > People will flock to whichever product has the largest user base. For half a decade, Bitcoin was almost synonymous with cryptocurrency. The Network Effect creates a **positive feedback loop** and makes Bitcoin's lead grow even more. > > If Bitcoin, Bitcoin Cash, and Litecoin were all released simultaneously, Bitcoin would lose to its PoW competitors because its competitors have cheaper fees with higher throughput. But the reality is that Bitcoin's first-mover advantage gave it such a huge head start that the others can't catch up. > > **Has the largest block reward for security** > > Due to its high price, Bitcoin has a huge [block reward of 6.5 BTC](https://www.coingecko.com/en/coins/bitcoin/bitcoin-halving) (halves every 4 years) or ~$180k per block. This gives it the security lead because its block reward is so much bigger than other PoW cryptocurrencies, which attracts more miners. > > **Anti-censorship** > > Bitcoin provides partial censorship-resistance against sanctions and totalitarian government restrictions. It's much harder to prevent Bitcoin transactions than it is to prevent financial transactions at a centralized bank. [Legal sex workers](https://www.theverge.com/2021/8/24/22639356/onlyfans-ceo-tim-stokely-sexually-explicit-content-ban-banks) (e.g. Onlyfans) and [marijuana industries](https://www.leadingretirement.com/blog/cannabis-banking) are blocked from using traditional financial services due to social stigma. Even though they can operate legally, many TradFi banks avoid operating with them. Bitcoin provides those workers a way to transfer funds around that censorship. > > **Avoids Hyperinflation**: As long as governments keep causing high inflation through money-printing, people will run to Bitcoin for safety, which pumps up Bitcoin's price. > > **Considered a commodity by both SEC and CFTC**: Bitcoin is the only cryptocurrency that both the SEC and CFTC have openly agreed is a commodity. And the CFTC is much less lawsuit-happy than the SEC. > > **Legal tender**: El Salvador has shown (despite some technical mishaps) that Bitcoin can be successfully used as legal tender for a country. > > **Ordinals provide utility** > > Even though Bitcoin Maxis hate Ordinals, this new protocol gives utility to Bitcoin and adds demand. NFT bros are using it as an **on-chain data storage layer** for their own blockchains (e.g. Ethereum, Stack). This has an advantage over IPFS since IPFS is stored in centralized databases instead of on-chain. > > This generates more fees for Bitcoin miners. Transaction fees have finally [risen to ~20 sats/vByte](https://mempool.space/graphs/mempool) on days with high Ordinals activity like Mar 22-24. This gives hope that there may be sufficient demand for Bitcoin as an on-chain data-storage layer even after the block subsidy eventually disappears due to halvings. > > **Pseudonymous**: Bitcoin's UTXO transactions can provide moderately-high levels of obscurity. A single wallet can produce a near-unlimited amount of addresses, and there's no way to link them unless they interact with each other. It's much harder to trace UTXO-based wallets than Account-based wallets because the former creates new UTXO addresses with each transaction while Account-based blockchain wallets typically reuse the same account. > > **Lightning transactions are near-instant and cheap** > > As long as you're spending small amounts of Bitcoin, you can use the Lightning network to make near-instant, sub-$0.01 transactions. Many Lightning nodes for merchants are connected to 3rd-party services that convert between cash and Lightning, making it easy to transfer Bitcoins. Consumers usually don't have to care about rebalancing issues since they're only spending small amounts. > > And the [total capacity of the Lightning Network](https://bitcoinvisuals.com/ln-capacity) in BTC keeps increasing steadily. > > **Cannot be counterfeited**: Cash can be counterfeited, but you can't fake Lightning transactions. Merchants have to deal with counterfeit cash in many markets around the world. > > **Bitcoin has a very strong community of die-hard supporters** > > A huge portion of Bitcoin supporters have become Bitcoin Maxis who will keep spreading their arguments, regardless of accuracy. Because Bitcoin is a gateway cryptocurrency, crypto newbies will encounter it first and gobble up these narratives because they don't have the experience to know their flaws. And they're very convincing when you keep repeating them in an echo chamber: > > * Maximum supply cap of 21M BTC vs Fed's money printer > * Amazing past-performance gains vs fiat > * Works as Store of Value (despite volatility) > * Had a "fair launch" without an ICO > * Is not a risky altcoin > * Is decentralized (based on largest number of miners) > * Has instant payments via the Lightning Network > > **Ultimately, people are mainly using crypto for speculative investing and long-term Store of Value. Most people don't care about technology, Defi, or utility. Thus Bitcoin is sufficient for their investment needs.** > > And since cryptocurrency value is largely based on a Keynesian Beauty Contest (i.e. you buy not based on your own value, but on what you think others are going to buy), people are going to keep buying Bitcoin as long as the investment narrative holds. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/100p7vq/top_coins_bitcoin_proarguments_january_2023/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin) to find arguments on this topic in other rounds.

Conscious-Shake-4802

This project is just programmed to go many millions market cap. Everything is on point. Never before there was 4chan equivalent in crypto space, also with that much of different stuff like tipping, NFT support, mobile app and so on. Community members, especially our whales are very generous and down to earth people. They almost everyday do giveaways, personally they gave me like $350 worth of solchan tokens for just being there and vibing. Im not even shilling, this goes just straight from heart, hands down best project and community i have ever been.

Dettol-tasting-menu

Oh that’s just the NFT / ordinal / inscriptions / Runes thingy. From my POV people simply found a loophole (after Taproot upgrade) to use the bitcoin blockchain as a cloud drive for pictures. Miners love it because it means they make $$$ from selling block space, but it dilutes the monetary function of Bitcoin, to the point that people sometimes cannot use the base chain for smaller amount (while L2s are not totally widespread just yet) Best money should be just money and nothing else. For this reason fiat is actually a better money if it’s not printed by the trillions. Bitcoin fixes that as it’s a digital money that can’t be printed and has zero usage outside of being money.

Key_nine

$DIGI, it is under a million in market cap but it looks like something with potential, it could fail like any other projects but it is definitely doing some different things than other coins. It wants to bridge the gap between the digital world and real life at its locations. It has one location so far but wants to be an IRL metaverse and NFT art display entertainment venue that only using QR, AR and crypto.

starts

Wanted to shout out cronos chain and specifically crow with knife (CAW). I've been on the chain since it launched and managed to get in on this meme project early. The team behind the first NFT project on the chain launched it. It spent a while in the 10-20m cap range and then popped off when crypto.com listed it. CDC now own about 25% on behalf of their users and they themselves own about 5% that they bought OTC to form additional liquidity on the main cronos DEX. They've built up 5000+ discord members and 9000+ wallets. It's been a wild ride so far. Been seeing a lot of CT influencers and Dev teams from Solana launching and shifting attention to Cronos the last couple weeks and I'm betting that capital will follow swiftly. As the first and biggest meme coin on the chain it should pop off. Obviously DYOR. It seems there could be big opportunities on cronos in the next couple of weeks, not just this memecoin so worth keeping an eye out. Anyways that's my shill. Keep an eye on cronos and crow with knife, looking forward to seeing what the next couple weeks bring.

mal-contented

$DUCKS Influencer marketing landing. NFT of a duck smoking weed soon. Dedicated team. Great community. Awesome meme. @DuckSmokingMeme 

Greggybone72

Look up "Bettina Warburg" she does a Ted Talks that explains why blockchain is important in business.. It's not just forex, there's more layers. Twitter X spaces is your friend.. 'NFT degens' gather on open calls where a dozen can speak and thousands can listen along. But go read on your own.. Actually read a white paper.. or look up "IOHK Ouroboros" follow the vision and question if there's a human need.. decide which company building on which blockchain is making an impact large enough to invest into. So it's not just a popularity contest, There's also computer science history being written. Developers, engineers, & artists collaborate to create companies to sell their digital project or service to the public. Do you wish to support their early endeavors by collecting their tokens? Decide if part of your goal is to use the property within your chosen ecosystem or is this a flip and move on thing. Are you adding to your staking walket long term? Any way you choose, make a plan you will stick to. Designate a paper notebook and a nice pen to this endeavor. Write everything down. 2FA your back up email. In 5 years you won't remember which email or which wallet app. Write it all down.

CointestMod

#Bitcoin Pro-Arguments Below is an argument written by a deleted user which won 1st place in the Bitcoin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > **First-Mover Advantage and The Network Effect** > > Bitcoin is currently the most popular cryptocurrency and market cap leader by a long shot. The [Bitcoin dominance chart](https://www.coingecko.com/en/global-charts) shows that Bitcoin represents 60% of the entire cryptocurrency market cap. This has increased from 40% in 2020. > > Bitcoin is the **gateway**. People start out with Bitcoin before checking out other cryptocurrencies. They're likely going to keep holding any Bitcoin they bought along the way. > > People will flock to whichever product has the largest user base. For half a decade, Bitcoin was almost synonymous with cryptocurrency. The Network Effect creates a **positive feedback loop** and makes Bitcoin's lead grow even more. > > If Bitcoin, Bitcoin Cash, and Litecoin were all released simultaneously, Bitcoin would lose to its PoW competitors because its competitors have cheaper fees with higher throughput. But the reality is that Bitcoin's first-mover advantage gave it such a huge head start that the others can't catch up. > > **Has the largest block reward for security** > > Due to its high price, Bitcoin has a huge [block reward of 6.5 BTC](https://www.coingecko.com/en/coins/bitcoin/bitcoin-halving) (halves every 4 years) or ~$180k per block. This gives it the security lead because its block reward is so much bigger than other PoW cryptocurrencies, which attracts more miners. > > **Anti-censorship** > > Bitcoin provides partial censorship-resistance against sanctions and totalitarian government restrictions. It's much harder to prevent Bitcoin transactions than it is to prevent financial transactions at a centralized bank. [Legal sex workers](https://www.theverge.com/2021/8/24/22639356/onlyfans-ceo-tim-stokely-sexually-explicit-content-ban-banks) (e.g. Onlyfans) and [marijuana industries](https://www.leadingretirement.com/blog/cannabis-banking) are blocked from using traditional financial services due to social stigma. Even though they can operate legally, many TradFi banks avoid operating with them. Bitcoin provides those workers a way to transfer funds around that censorship. > > **Avoids Hyperinflation**: As long as governments keep causing high inflation through money-printing, people will run to Bitcoin for safety, which pumps up Bitcoin's price. > > **Considered a commodity by both SEC and CFTC**: Bitcoin is the only cryptocurrency that both the SEC and CFTC have openly agreed is a commodity. And the CFTC is much less lawsuit-happy than the SEC. > > **Legal tender**: El Salvador has shown (despite some technical mishaps) that Bitcoin can be successfully used as legal tender for a country. > > **Ordinals provide utility** > > Even though Bitcoin Maxis hate Ordinals, this new protocol gives utility to Bitcoin and adds demand. NFT bros are using it as an **on-chain data storage layer** for their own blockchains (e.g. Ethereum, Stack). This has an advantage over IPFS since IPFS is stored in centralized databases instead of on-chain. > > This generates more fees for Bitcoin miners. Transaction fees have finally [risen to ~20 sats/vByte](https://mempool.space/graphs/mempool) on days with high Ordinals activity like Mar 22-24. This gives hope that there may be sufficient demand for Bitcoin as an on-chain data-storage layer even after the block subsidy eventually disappears due to halvings. > > **Pseudonymous**: Bitcoin's UTXO transactions can provide moderately-high levels of obscurity. A single wallet can produce a near-unlimited amount of addresses, and there's no way to link them unless they interact with each other. It's much harder to trace UTXO-based wallets than Account-based wallets because the former creates new UTXO addresses with each transaction while Account-based blockchain wallets typically reuse the same account. > > **Lightning transactions are near-instant and cheap** > > As long as you're spending small amounts of Bitcoin, you can use the Lightning network to make near-instant, sub-$0.01 transactions. Many Lightning nodes for merchants are connected to 3rd-party services that convert between cash and Lightning, making it easy to transfer Bitcoins. Consumers usually don't have to care about rebalancing issues since they're only spending small amounts. > > And the [total capacity of the Lightning Network](https://bitcoinvisuals.com/ln-capacity) in BTC keeps increasing steadily. > > **Cannot be counterfeited**: Cash can be counterfeited, but you can't fake Lightning transactions. Merchants have to deal with counterfeit cash in many markets around the world. > > **Bitcoin has a very strong community of die-hard supporters** > > A huge portion of Bitcoin supporters have become Bitcoin Maxis who will keep spreading their arguments, regardless of accuracy. Because Bitcoin is a gateway cryptocurrency, crypto newbies will encounter it first and gobble up these narratives because they don't have the experience to know their flaws. And they're very convincing when you keep repeating them in an echo chamber: > > * Maximum supply cap of 21M BTC vs Fed's money printer > * Amazing past-performance gains vs fiat > * Works as Store of Value (despite volatility) > * Had a "fair launch" without an ICO > * Is not a risky altcoin > * Is decentralized (based on largest number of miners) > * Has instant payments via the Lightning Network > > **Ultimately, people are mainly using crypto for speculative investing and long-term Store of Value. Most people don't care about technology, Defi, or utility. Thus Bitcoin is sufficient for their investment needs.** > > And since cryptocurrency value is largely based on a Keynesian Beauty Contest (i.e. you buy not based on your own value, but on what you think others are going to buy), people are going to keep buying Bitcoin as long as the investment narrative holds. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/100p7vq/top_coins_bitcoin_proarguments_january_2023/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin) to find arguments on this topic in other rounds.

az226

I’m very technically savvy and my wife is highly proficient. We wanted to try to buy and sell an NFT from me to her. It was the most ridiculous difficult thing and made me convinced it was 99% money laundering because who would pain through the hoops and godawful ux for it. An extremely strong motivating factor.

Yuppiex

It’s similar but not the same ERC-20i embeds unique data within each token transaction, enhancing both fungibility and uniqueness. In contrast, ERC-404 bonds an NFT to an ERC-20 token to fractionalize ownership of the NFT. You can re-roll and evolve your erc20i based on your token holdings.

UglyDuckling00000

I’ve heard about it a few times now - it looks like a novel direction for dynamic memes… basically meme 2.0 with NFT-like properties. I am bullish on it for sure

EnzoFerrarisShades

Noob here by all means. Learnt the hard way through the 2021 bullrun. I still have a very small amount of SOL left in my phantom wallet from my failed NFT ventures of the past, and figured I may as well just throw it in a SOL memecoin or two as it's basically only 3% of what I actually put in initially! Trying to figure out the best source for hunting new SOL memecoins which I can then just swap my SOL for inside the phantom wallet. Any suggestions? (for both hunting memecoins, and for memecoins themselves)

CointestMod

#Bitcoin Pro-Arguments Below is an argument written by a deleted user which won 1st place in the Bitcoin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > **First-Mover Advantage and The Network Effect** > > Bitcoin is currently the most popular cryptocurrency and market cap leader by a long shot. The [Bitcoin dominance chart](https://www.coingecko.com/en/global-charts) shows that Bitcoin represents 60% of the entire cryptocurrency market cap. This has increased from 40% in 2020. > > Bitcoin is the **gateway**. People start out with Bitcoin before checking out other cryptocurrencies. They're likely going to keep holding any Bitcoin they bought along the way. > > People will flock to whichever product has the largest user base. For half a decade, Bitcoin was almost synonymous with cryptocurrency. The Network Effect creates a **positive feedback loop** and makes Bitcoin's lead grow even more. > > If Bitcoin, Bitcoin Cash, and Litecoin were all released simultaneously, Bitcoin would lose to its PoW competitors because its competitors have cheaper fees with higher throughput. But the reality is that Bitcoin's first-mover advantage gave it such a huge head start that the others can't catch up. > > **Has the largest block reward for security** > > Due to its high price, Bitcoin has a huge [block reward of 6.5 BTC](https://www.coingecko.com/en/coins/bitcoin/bitcoin-halving) (halves every 4 years) or ~$180k per block. This gives it the security lead because its block reward is so much bigger than other PoW cryptocurrencies, which attracts more miners. > > **Anti-censorship** > > Bitcoin provides partial censorship-resistance against sanctions and totalitarian government restrictions. It's much harder to prevent Bitcoin transactions than it is to prevent financial transactions at a centralized bank. [Legal sex workers](https://www.theverge.com/2021/8/24/22639356/onlyfans-ceo-tim-stokely-sexually-explicit-content-ban-banks) (e.g. Onlyfans) and [marijuana industries](https://www.leadingretirement.com/blog/cannabis-banking) are blocked from using traditional financial services due to social stigma. Even though they can operate legally, many TradFi banks avoid operating with them. Bitcoin provides those workers a way to transfer funds around that censorship. > > **Avoids Hyperinflation**: As long as governments keep causing high inflation through money-printing, people will run to Bitcoin for safety, which pumps up Bitcoin's price. > > **Considered a commodity by both SEC and CFTC**: Bitcoin is the only cryptocurrency that both the SEC and CFTC have openly agreed is a commodity. And the CFTC is much less lawsuit-happy than the SEC. > > **Legal tender**: El Salvador has shown (despite some technical mishaps) that Bitcoin can be successfully used as legal tender for a country. > > **Ordinals provide utility** > > Even though Bitcoin Maxis hate Ordinals, this new protocol gives utility to Bitcoin and adds demand. NFT bros are using it as an **on-chain data storage layer** for their own blockchains (e.g. Ethereum, Stack). This has an advantage over IPFS since IPFS is stored in centralized databases instead of on-chain. > > This generates more fees for Bitcoin miners. Transaction fees have finally [risen to ~20 sats/vByte](https://mempool.space/graphs/mempool) on days with high Ordinals activity like Mar 22-24. This gives hope that there may be sufficient demand for Bitcoin as an on-chain data-storage layer even after the block subsidy eventually disappears due to halvings. > > **Pseudonymous**: Bitcoin's UTXO transactions can provide moderately-high levels of obscurity. A single wallet can produce a near-unlimited amount of addresses, and there's no way to link them unless they interact with each other. It's much harder to trace UTXO-based wallets than Account-based wallets because the former creates new UTXO addresses with each transaction while Account-based blockchain wallets typically reuse the same account. > > **Lightning transactions are near-instant and cheap** > > As long as you're spending small amounts of Bitcoin, you can use the Lightning network to make near-instant, sub-$0.01 transactions. Many Lightning nodes for merchants are connected to 3rd-party services that convert between cash and Lightning, making it easy to transfer Bitcoins. Consumers usually don't have to care about rebalancing issues since they're only spending small amounts. > > And the [total capacity of the Lightning Network](https://bitcoinvisuals.com/ln-capacity) in BTC keeps increasing steadily. > > **Cannot be counterfeited**: Cash can be counterfeited, but you can't fake Lightning transactions. Merchants have to deal with counterfeit cash in many markets around the world. > > **Bitcoin has a very strong community of die-hard supporters** > > A huge portion of Bitcoin supporters have become Bitcoin Maxis who will keep spreading their arguments, regardless of accuracy. Because Bitcoin is a gateway cryptocurrency, crypto newbies will encounter it first and gobble up these narratives because they don't have the experience to know their flaws. And they're very convincing when you keep repeating them in an echo chamber: > > * Maximum supply cap of 21M BTC vs Fed's money printer > * Amazing past-performance gains vs fiat > * Works as Store of Value (despite volatility) > * Had a "fair launch" without an ICO > * Is not a risky altcoin > * Is decentralized (based on largest number of miners) > * Has instant payments via the Lightning Network > > **Ultimately, people are mainly using crypto for speculative investing and long-term Store of Value. Most people don't care about technology, Defi, or utility. Thus Bitcoin is sufficient for their investment needs.** > > And since cryptocurrency value is largely based on a Keynesian Beauty Contest (i.e. you buy not based on your own value, but on what you think others are going to buy), people are going to keep buying Bitcoin as long as the investment narrative holds. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/100p7vq/top_coins_bitcoin_proarguments_january_2023/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin) to find arguments on this topic in other rounds.

ashurii22

I can think of three advantages: more privacy, more autonomy, more portability. If you mint your social media profile as an NFT, you don't need to give your email address, phone number, or any personal information away; you decide what to share with whom. And if you're connecting a wallet to a social app, you don't even need a password; short of losing the NFT or wallet access, there's nothing to lock you out. So instead of a site like Twitter allowing you to use their service (while collecting lots of data on you), you're consenting to let the app host your content. You can also take that profile to a different app running the same protocol. So you have options for exit if an app's community turns toxic or just isn't working for you; but equally important, you can branch out and keep the same identity across multiple platforms. It becomes more like the ID in your physical wallet, while being less intrusive than e.g. a Google ID. The tl;dr is that if blockchain cash removes middlemen, blockchain identity should do the same.

CointestMod

#Bitcoin Pro-Arguments Below is an argument written by a deleted user which won 1st place in the Bitcoin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > **First-Mover Advantage and The Network Effect** > > Bitcoin is currently the most popular cryptocurrency and market cap leader by a long shot. The [Bitcoin dominance chart](https://www.coingecko.com/en/global-charts) shows that Bitcoin represents 60% of the entire cryptocurrency market cap. This has increased from 40% in 2020. > > Bitcoin is the **gateway**. People start out with Bitcoin before checking out other cryptocurrencies. They're likely going to keep holding any Bitcoin they bought along the way. > > People will flock to whichever product has the largest user base. For half a decade, Bitcoin was almost synonymous with cryptocurrency. The Network Effect creates a **positive feedback loop** and makes Bitcoin's lead grow even more. > > If Bitcoin, Bitcoin Cash, and Litecoin were all released simultaneously, Bitcoin would lose to its PoW competitors because its competitors have cheaper fees with higher throughput. But the reality is that Bitcoin's first-mover advantage gave it such a huge head start that the others can't catch up. > > **Has the largest block reward for security** > > Due to its high price, Bitcoin has a huge [block reward of 6.5 BTC](https://www.coingecko.com/en/coins/bitcoin/bitcoin-halving) (halves every 4 years) or ~$180k per block. This gives it the security lead because its block reward is so much bigger than other PoW cryptocurrencies, which attracts more miners. > > **Anti-censorship** > > Bitcoin provides partial censorship-resistance against sanctions and totalitarian government restrictions. It's much harder to prevent Bitcoin transactions than it is to prevent financial transactions at a centralized bank. [Legal sex workers](https://www.theverge.com/2021/8/24/22639356/onlyfans-ceo-tim-stokely-sexually-explicit-content-ban-banks) (e.g. Onlyfans) and [marijuana industries](https://www.leadingretirement.com/blog/cannabis-banking) are blocked from using traditional financial services due to social stigma. Even though they can operate legally, many TradFi banks avoid operating with them. Bitcoin provides those workers a way to transfer funds around that censorship. > > **Avoids Hyperinflation**: As long as governments keep causing high inflation through money-printing, people will run to Bitcoin for safety, which pumps up Bitcoin's price. > > **Considered a commodity by both SEC and CFTC**: Bitcoin is the only cryptocurrency that both the SEC and CFTC have openly agreed is a commodity. And the CFTC is much less lawsuit-happy than the SEC. > > **Legal tender**: El Salvador has shown (despite some technical mishaps) that Bitcoin can be successfully used as legal tender for a country. > > **Ordinals provide utility** > > Even though Bitcoin Maxis hate Ordinals, this new protocol gives utility to Bitcoin and adds demand. NFT bros are using it as an **on-chain data storage layer** for their own blockchains (e.g. Ethereum, Stack). This has an advantage over IPFS since IPFS is stored in centralized databases instead of on-chain. > > This generates more fees for Bitcoin miners. Transaction fees have finally [risen to ~20 sats/vByte](https://mempool.space/graphs/mempool) on days with high Ordinals activity like Mar 22-24. This gives hope that there may be sufficient demand for Bitcoin as an on-chain data-storage layer even after the block subsidy eventually disappears due to halvings. > > **Pseudonymous**: Bitcoin's UTXO transactions can provide moderately-high levels of obscurity. A single wallet can produce a near-unlimited amount of addresses, and there's no way to link them unless they interact with each other. It's much harder to trace UTXO-based wallets than Account-based wallets because the former creates new UTXO addresses with each transaction while Account-based blockchain wallets typically reuse the same account. > > **Lightning transactions are near-instant and cheap** > > As long as you're spending small amounts of Bitcoin, you can use the Lightning network to make near-instant, sub-$0.01 transactions. Many Lightning nodes for merchants are connected to 3rd-party services that convert between cash and Lightning, making it easy to transfer Bitcoins. Consumers usually don't have to care about rebalancing issues since they're only spending small amounts. > > And the [total capacity of the Lightning Network](https://bitcoinvisuals.com/ln-capacity) in BTC keeps increasing steadily. > > **Cannot be counterfeited**: Cash can be counterfeited, but you can't fake Lightning transactions. Merchants have to deal with counterfeit cash in many markets around the world. > > **Bitcoin has a very strong community of die-hard supporters** > > A huge portion of Bitcoin supporters have become Bitcoin Maxis who will keep spreading their arguments, regardless of accuracy. Because Bitcoin is a gateway cryptocurrency, crypto newbies will encounter it first and gobble up these narratives because they don't have the experience to know their flaws. And they're very convincing when you keep repeating them in an echo chamber: > > * Maximum supply cap of 21M BTC vs Fed's money printer > * Amazing past-performance gains vs fiat > * Works as Store of Value (despite volatility) > * Had a "fair launch" without an ICO > * Is not a risky altcoin > * Is decentralized (based on largest number of miners) > * Has instant payments via the Lightning Network > > **Ultimately, people are mainly using crypto for speculative investing and long-term Store of Value. Most people don't care about technology, Defi, or utility. Thus Bitcoin is sufficient for their investment needs.** > > And since cryptocurrency value is largely based on a Keynesian Beauty Contest (i.e. you buy not based on your own value, but on what you think others are going to buy), people are going to keep buying Bitcoin as long as the investment narrative holds. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/100p7vq/top_coins_bitcoin_proarguments_january_2023/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin) to find arguments on this topic in other rounds.

EeeeJay

I think the system will make legitimate voting better, but don't forget that there were real tampering attempts and we escaped them by luck. Using a blockchain to manage and verify it all improves security for less hours worked overall, less trust needed in individual vote centres, allows people to easily and securely vote, remotely as an option, no/minimal postal lag. I used this example elsewhere to address similar concerns to yours:  Each person has a govt blockchain account already linked to their ID/licence/whatever. When voting opens, each wallet is given a token (an NFT linked to that specific election) that they can then send to the account of their choice. A one time/temporary address can be used so votes can't be traced if someone's account address is public knowledge. This can all be anonymised while remaining totally verifiable. One vote only, anonymous, automatically counted/tallied, each town could run a node at the voting centre, any person could run a node for the vote casting period. I work in voting centres, the total amount of hours put in at one election on counting/tallying alone could easily cover development of this system. Even if it took two or more years worth of effort, I'd really hope that an open and fair democracy could continue for hundreds of years. It's digital so could be used by any country with slight modification, just how new blockchains are made from the good few now. Not forgetting the massive boost to research and study that would flow into the crypto space if it started being used this way. So yes, it's really worth it.

CointestMod

#Chainlink Con-Arguments Below is a Chainlink con-argument written by etj103007. > **What is Chainlink?** > > *Disclaimer: I have interacted with smart contracts using Chainlink, though I don’t hold any of the token itself.* > > Chainlink is an oracle network, allowing smart contracts to receive (and send) external information. In short, it allows the blockchain to interact with the outside world. > > It is supported on many different blockchains, including the Ethereum Mainnet, its L2s, and sidechains such as Polygon. > > However, the Chainlink network itself is not a blockchain. Instead, it calls itself “blockchain-agnostic” meaning it can theoretically be used on any chain that wants to support it. > > Say you want send 10$ of a coin or token to a certain address every day. Well, if it was a stablecoin, it’d be pretty easy. But maybe it’s Ethereum, or WBTC, or some other token that fluctuates in price. As such, the amount of said token/coin worth 10$ always changes. Using Chainlink, you can avail the price of that token/coin, and be able to calculate the exact amount to send so that it equals 10$. There are many other situations just like this that the Chainlink network is used for. > > The Chainlink token serves a niche; it is used to pay the node operators for the data they deliver. Recently, LINK staking has launched with the advent of Chainlink Staking v0.1. This allows operators and users to stake their LINK to secure the network. > > Chainlink is used as an oracle by various DeFi protocols like AAVE, dYdX, Synthetix, by various NFT projects such as those created by the NBA, even decentralized insurance (Etherisc) and more. ([https://blog.chain.link/smart-contract-use-cases/](https://blog.chain.link/smart-contract-use-cases/)) > > # Pros of Chainlink (LINK) > > **1. Chainlink is secure, scalable, and reliable.** > > The nature of being a Chainlink node operator maintains these 3 qualities. Node operators are required to follow a set of guidelines for their nodes to ensure security. For example, nodes have to have backups for the nodes connecting to their data sources, snapshots of the chain for syncing, Ethereum to pay for gas, and more. > > Being decentralized and relying on the blockchain to secure the data feed transactions pretty much guarantees its security as well. > > Node operators also do their best to optimize the performance of their nodes and have also released multiple developments to increase scalability, such as the Off-Chain Reporting upgrade which has reduced operating costs by 90% ([https://blog.chain.link/off-chain-reporting-live-on-mainnet/](https://blog.chain.link/off-chain-reporting-live-on-mainnet/)) > > As said before, Chainlink (being based on smart contracts) can theoretically be used on any blockchain that wishes to adopt it. And with the use cases mentioned above ([https://blog.chain.link/smart-contract-use-cases/](https://blog.chain.link/smart-contract-use-cases/)), the only thing it needs is developers willing to adopt it into their respective blockchains. > > The Chainlink network also prides itself on its reliability. Being serviced by independent and reputable node operators such as Infura, Swisscom (telecom company), Huobi, Binance, and others, it relies on this network of operators to source the data needed onchain. As node operators need to stake their tokens as collateral, it also challenges them to offer good performance. > > For example, Chainlink held an “oracle Olympics” challenging operators to keep their uptime at 100% while undergoing several challenges. While 100% is impossible, the winners guaranteed 99.99%, ensuring that their nodes would be available for that amount of time while still surviving thru challenges. > > **2. Chainlink’s recently launched Chainlink Staking v.0.1 allows users to stake their tokens while securing the networks' nodes.** > > While currently only supporting the ETH/USD data feed on mainnet Ethereum, other data feeds will soon be supported. Meanwhile, Staking 0.2 is planned in 9-12 months and is expected to bring updates and developments to staking, and also allow withdrawals of currently staked LINK. > > Just like traditional staking, this version allows users to secure the network; unlike POS blockchains, Chainlink doesn’t run on a blockchain so stakers secure by raising alerts (if the oracle doesn’t report an update in 3 hours, for example). If the alerts are valid, they can earn LINK, improving the security of the network by penalizing unresponsive nodes. > > Reputation systems for nodes have also been developed, ensuring that nodes maintain their good performance and continue providing correct oracle prices. > > These two systems combined ensure every node performs well and allow users in the ecosystem to earn rewards while securing the network. > > **In conclusion:** > > Chainlink Network and its token will continue its developments in the next years as the demand for oracles increases across the crypto space. Its' progress in its tokenomics with the start of staking while simultaneously ensuring the performance of its nodes will be welcomed by users of the network. And as more and more chains support Chainlink, it won't be long until it'll be found everywhere in DeFi and other sectors. > > TLDR: LINK and its network is used in many sectors of crypto, is secure, scalable, and reliable, while its' tokenomics continue to progress. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Chainlink) to find submissions for other topics.