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@Cryptopia13 "@grok @bumlebi @BattleJeff1 @DanyAlos @PeterSchiff @BTC_Rabbithole @grok: I am a bit puzzled: $BTC mining is a game of wealth itself - probably much more than $ETH staking - and its basically just a handful of miners that actually mine $BTC. The rest is only participating in theory and they are simply accruing costs. Sure about your point"
@Cryptopia13 Avatar @Cryptopia13 on X 2025-07-25 10:38:27 UTC XXX followers, XX engagements

"@grok @bumlebi @BattleJeff1 @DanyAlos @PeterSchiff @BTC_Rabbithole X. Does not help against the missing incentives I have laid out. Easy access means easy exit too - without incentives to hold etc. Lets image some of these $BTC treasury companies overdo it with leverage later and they will blow up. They will start a liquidity cascade probably"
@Cryptopia13 Avatar @Cryptopia13 on X 2025-07-25 11:09:21 UTC XXX followers, XX engagements

"@grok @bumlebi @BattleJeff1 @DanyAlos @PeterSchiff @BTC_Rabbithole Yeah - that is great in theory. But basically nobody uses it in such a way or needs it - thats why the mempool is empty or close to empty so much time. For all the rest: paper $BTC real $BTC. The ETF buyer (your point) does not care or even know if it is real or a derivative"
@Cryptopia13 Avatar @Cryptopia13 on X 2025-07-25 11:12:39 UTC XXX followers, XX engagements

"@grok @bumlebi @BattleJeff1 @DanyAlos @PeterSchiff @BTC_Rabbithole unseen of because everybody knows how much the others hold and can see whats going on. Everybody is basically - in absence of incentives to hold - forced to sell as much $BTC as quickly as possible. As a consequence you will have a much smaller asset with a lot less liquidity"
@Cryptopia13 Avatar @Cryptopia13 on X 2025-07-25 11:10:38 UTC XXX followers, XX engagements

"@grok @bumlebi @BattleJeff1 @DanyAlos @PeterSchiff @BTC_Rabbithole Lightning network does not really work and even after many years in basically nobody uses it. El Salvador Really a state that was close to being a failed state without proper currency. Is that all"
@Cryptopia13 Avatar @Cryptopia13 on X 2025-07-25 11:16:18 UTC XXX followers, X engagements

"@bumlebi @BattleJeff1 @DanyAlos @PeterSchiff @BTC_Rabbithole @grok Yeah - great. Asking a specific question where the one asset you want to succeed is superior while not asking more relevant questions like this one: @grok: Is it relevant and if so when and why that $BTC is supposedly more decentralised than $ETH"
@Cryptopia13 Avatar @Cryptopia13 on X 2025-07-25 10:33:54 UTC XXX followers, XX engagements

"@TheDeFinvestor Rocket Pool $RPL and Optimism $OP obviously. Two of the OGs that are highly correlated. Newer ones with not much circ. supply (in a bull market that is very positive - see $Sui) like zksync $zk are also worth a look"
@Cryptopia13 Avatar @Cryptopia13 on X 2025-07-19 11:45:32 UTC XXX followers, XXX engagements

"@grok @bumlebi @BattleJeff1 @DanyAlos @PeterSchiff @BTC_Rabbithole @grok: But a) isnt XX% lower than XXXXX% and arent XX% for top X pools much higher than anything on $ETH. And b) to the switching argument: arent even more free to switch between staking services because the switching costs are much lower than for $BTC"
@Cryptopia13 Avatar @Cryptopia13 on X 2025-07-25 10:47:07 UTC XXX followers, XX engagements

"@grok @bumlebi @BattleJeff1 @DanyAlos @PeterSchiff @BTC_Rabbithole ETF buyers have the exact same incentive (get out as soon and with as much as possible) once the sh. hits the fan. Its just an hypothesis so far that they wont do it. And there is als no precedence because weve never had an ETF for an asset with no real use-case"
@Cryptopia13 Avatar @Cryptopia13 on X 2025-07-25 11:18:01 UTC XXX followers, XX engagements

"@grok @bumlebi @BattleJeff1 @DanyAlos @PeterSchiff @BTC_Rabbithole X. $BTC is not used as money; it is not anchored in the real world (prices not denominated in $BTC but in Fiat etc) and the chain couldnt handle it being used as money. So that is just a theoretical construct. The role of money is taken over by stables right now and later"
@Cryptopia13 Avatar @Cryptopia13 on X 2025-07-25 11:06:45 UTC XXX followers, XX engagements

"@KyleReidhead Yeah - because it enabled another layer of value extraction. Value extraction is and cannot be a sustainable business model as you can clearly see by their numbers. Youll simply run out of idiots at some point in time. By the way I am not saying that the Pump team did"
@Cryptopia13 Avatar @Cryptopia13 on X 2025-07-25 15:02:08 UTC XXX followers, XX engagements

"@KyleReidhead not do an awesome job by seeing this and exploiting this opportunity. I am just saying that the token $pump is just another layer of value extraction and I feel sorry for people falling for it. The pump team has never given back a dime and they did raise capital while"
@Cryptopia13 Avatar @Cryptopia13 on X 2025-07-25 15:03:58 UTC XXX followers, XX engagements

"@grok @bumlebi @BattleJeff1 @DanyAlos @PeterSchiff @BTC_Rabbithole @grok: Are you sure about the last point. If a blockchain is not just useless for anything meaningful (HODL is no use-case because it brings an array of problems with it) it has to be performant too. So there might be trade-offs between functionality and decentralisation"
@Cryptopia13 Avatar @Cryptopia13 on X 2025-07-25 10:57:00 UTC XXX followers, XX engagements

"@grok @bumlebi @BattleJeff1 @DanyAlos @PeterSchiff @BTC_Rabbithole Ordinals is actually an argument for my point of view: It was an attempt to give $BTC utility and meaning"
@Cryptopia13 Avatar @Cryptopia13 on X 2025-07-25 11:19:48 UTC XXX followers, XX engagements

"@grok @bumlebi @BattleJeff1 @DanyAlos @PeterSchiff @BTC_Rabbithole Yeah - however with basically anything that you try to put on top of $BTC: You realise pretty quickly that you are just mimicking sth. that already exists somewhere else and is much better somewhere else because $BTC is so limited. Id argue its the same with Lightning"
@Cryptopia13 Avatar @Cryptopia13 on X 2025-07-25 11:22:22 UTC XXX followers, XX engagements

"@thedefiedge Its not. Once a bunch of these $BTC treasury companies using way too much leverage blow up and start a cascade to levels most seem unimaginable now youd wish that you had saved to a different asset and not one where nobody really has an incentive to hold"
@Cryptopia13 Avatar @Cryptopia13 on X 2025-07-22 09:14:07 UTC XXX followers, XX engagements

"@grok @bumlebi @BattleJeff1 @DanyAlos @PeterSchiff @BTC_Rabbithole $BTC Maxis like Willy Woo have to admit that:"
@Cryptopia13 Avatar @Cryptopia13 on X 2025-07-25 11:05:17 UTC XXX followers, XX engagements

"@KyleReidhead sustainable = you do what you are best at: You extract as much money as possible and the easiest way to do that was this ICO. The only other ICO of this size ($EOS) was the same by the way. Simply value extraction with no intention to even hide it"
@Cryptopia13 Avatar @Cryptopia13 on X 2025-07-25 15:07:49 UTC XXX followers, XX engagements

"@grok @bumlebi @BattleJeff1 @DanyAlos @PeterSchiff @BTC_Rabbithole probably my more useful assets like $ETH or whatever might become big enough (via utility and usage) to play that role"
@Cryptopia13 Avatar @Cryptopia13 on X 2025-07-25 11:07:27 UTC XXX followers, XX engagements

"@cold_xyz Have a look at $Azero back then. It was shilled extensively by people like @CryptoGodJohn and his cabal. The outcome is as expected and its a view into the future of $pump"
@Cryptopia13 Avatar @Cryptopia13 on X 2025-07-25 10:54:43 UTC XXX followers, XX engagements

"@grok @bumlebi @BattleJeff1 @DanyAlos @PeterSchiff @BTC_Rabbithole @grok: Ok I still like to dig a bit deeper. Id argue that without utility beyond HODL or specific properties an asset cannot be a real SoV. Can you access this thread here and take the other side Id like to know why it could be wrong:"
@Cryptopia13 Avatar @Cryptopia13 on X 2025-07-25 11:00:41 UTC XXX followers, XX engagements

"@grok @bumlebi @BattleJeff1 @DanyAlos @PeterSchiff @BTC_Rabbithole Finally something we can agree on"
@Cryptopia13 Avatar @Cryptopia13 on X 2025-07-25 10:58:09 UTC XXX followers, XX engagements

"@Innerdevcrypto $BTC will probably crash as hard as these shit as you call it. Some of these $BTC treasury companies will overdo it with leverage and start a liquidation cascade that will wipe almost everybody out. $BTC has terrible incentives in such a situation. Everybody is forced to"
@Cryptopia13 Avatar @Cryptopia13 on X 2025-07-22 22:55:32 UTC XXX followers, XXX engagements

"@KyleReidhead they already had 700m in USD. There is no rationale reason for doing this: X. You believe your model is sustainable and it remains the money printing machine = no reason at all to share equity/stakes when you dont need to. X. You know its over and your model is NOT"
@Cryptopia13 Avatar @Cryptopia13 on X 2025-07-25 15:06:02 UTC XXX followers, XX engagements

"@grok @bumlebi @BattleJeff1 @DanyAlos @PeterSchiff @BTC_Rabbithole @grok: Can I present counterpoints: I need some tweets for it though: X. Without anything useful for $BTC the 21m are just a theoretical threshold. There can be basically endless paper $BTC because the original has nothing to offer or distinguish it from the paper copy. Even"
@Cryptopia13 Avatar @Cryptopia13 on X 2025-07-25 11:04:47 UTC XXX followers, XX engagements