Reddit User Account Overview

/u/



https://www.reddit.com/r/CointestOfficial/comments/10qi5p5/coin_inquiries_decentraland_protocol_conarguments/

Welcome to the r/CryptoCurrency [Cointest](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy). For this thread, the category is Coin Inquiries and the topic is Decentraland Con-Arguments. It will end three months from when it was submitted. Here are the [rules and guidelines](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy#wiki_rules). **SUGGESTIONS:** * **Use the** [**Cointest Archive**](https://old.reddit.com/r/CointestOfficial/wiki/cointest_archive) for some of the following suggestions. * **Preempt counter-points** in opposing threads (pro or con) to help make your arguments more complete. * **Read through these Decentraland search listings sorted by** [**relevance**](https://old.reddit.com/r/CryptoCurrency/search?q=Decentraland&restrict_sr=on&include_over_18=on&sort=relevance&t=all) **or** [**top**](https://old.reddit.com/r/CryptoCurrency/search/?q=Decentraland&include_over_18=on&restrict_sr=on&t=all&sort=top)**.** Find posts with numerous upvotes and sort the comments by controversial first. You might find some supportive or critical material worth borrowing. * **1st place doesn't take all,** so don't be discouraged! Both 2nd and 3rd places give you two more chances to win moons. Submit your con-arguments below. Good luck and have fun.

posted by /u/CointestMod in /r/CointestOfficial on January 31, 2023 21:33:22

https://www.reddit.com/r/CointestOfficial/comments/10qi5km/coin_inquiries_decentraland_protocol_proarguments/

Welcome to the r/CryptoCurrency [Cointest](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy). For this thread, the category is Coin Inquiries and the topic is Decentraland Pro-Arguments. It will end three months from when it was submitted. Here are the [rules and guidelines](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy#wiki_rules). **SUGGESTIONS:** * **Use the** [**Cointest Archive**](https://old.reddit.com/r/CointestOfficial/wiki/cointest_archive) for some of the following suggestions. * **Preempt counter-points** in opposing threads (pro or con) to help make your arguments more complete. * **Read through these Decentraland search listings sorted by** [**relevance**](https://old.reddit.com/r/CryptoCurrency/search?q=Decentraland&restrict_sr=on&include_over_18=on&sort=relevance&t=all) **or** [**top**](https://old.reddit.com/r/CryptoCurrency/search/?q=Decentraland&include_over_18=on&restrict_sr=on&t=all&sort=top)**.** Find posts with numerous upvotes and sort the comments by controversial first. You might find some supportive or critical material worth borrowing. * **1st place doesn't take all,** so don't be discouraged! Both 2nd and 3rd places give you two more chances to win moons. Submit your pro-arguments below. Good luck and have fun.

posted by /u/CointestMod in /r/CointestOfficial on January 31, 2023 21:33:11

https://www.reddit.com/r/CointestOfficial/comments/10qi5ce/coin_inquiries_numeraire_protocol_conarguments/

Welcome to the r/CryptoCurrency [Cointest](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy). For this thread, the category is Coin Inquiries and the topic is Numeraire Con-Arguments. It will end three months from when it was submitted. Here are the [rules and guidelines](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy#wiki_rules). **SUGGESTIONS:** * **Use the** [**Cointest Archive**](https://old.reddit.com/r/CointestOfficial/wiki/cointest_archive) for some of the following suggestions. * **Preempt counter-points** in opposing threads (pro or con) to help make your arguments more complete. * **Read through these Numeraire search listings sorted by** [**relevance**](https://old.reddit.com/r/CryptoCurrency/search?q=Numeraire&restrict_sr=on&include_over_18=on&sort=relevance&t=all) **or** [**top**](https://old.reddit.com/r/CryptoCurrency/search/?q=Numeraire&include_over_18=on&restrict_sr=on&t=all&sort=top)**.** Find posts with numerous upvotes and sort the comments by controversial first. You might find some supportive or critical material worth borrowing. * **1st place doesn't take all,** so don't be discouraged! Both 2nd and 3rd places give you two more chances to win moons. Submit your con-arguments below. Good luck and have fun.

posted by /u/CointestMod in /r/CointestOfficial on January 31, 2023 21:32:52

https://www.reddit.com/r/CointestOfficial/comments/10qi56m/coin_inquiries_numeraire_protocol_proarguments/

Welcome to the r/CryptoCurrency [Cointest](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy). For this thread, the category is Coin Inquiries and the topic is Numeraire Pro-Arguments. It will end three months from when it was submitted. Here are the [rules and guidelines](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy#wiki_rules). **SUGGESTIONS:** * **Use the** [**Cointest Archive**](https://old.reddit.com/r/CointestOfficial/wiki/cointest_archive) for some of the following suggestions. * **Preempt counter-points** in opposing threads (pro or con) to help make your arguments more complete. * **Read through these Numeraire search listings sorted by** [**relevance**](https://old.reddit.com/r/CryptoCurrency/search?q=Numeraire&restrict_sr=on&include_over_18=on&sort=relevance&t=all) **or** [**top**](https://old.reddit.com/r/CryptoCurrency/search/?q=Numeraire&include_over_18=on&restrict_sr=on&t=all&sort=top)**.** Find posts with numerous upvotes and sort the comments by controversial first. You might find some supportive or critical material worth borrowing. * **1st place doesn't take all,** so don't be discouraged! Both 2nd and 3rd places give you two more chances to win moons. Submit your pro-arguments below. Good luck and have fun.

posted by /u/CointestMod in /r/CointestOfficial on January 31, 2023 21:32:40

https://www.reddit.com/r/CointestOfficial/comments/10qi51o/coin_inquiries_ocean_protocol_proarguments/

Welcome to the r/CryptoCurrency [Cointest](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy). For this thread, the category is Coin Inquiries and the topic is Ocean Protocol Pro-Arguments. It will end three months from when it was submitted. Here are the [rules and guidelines](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy#wiki_rules). **SUGGESTIONS:** * **Use the** [**Cointest Archive**](https://old.reddit.com/r/CointestOfficial/wiki/cointest_archive) for some of the following suggestions. * **Preempt counter-points** in opposing threads (pro or con) to help make your arguments more complete. * **Read through these Ocean Protocol search listings sorted by** [**relevance**](https://old.reddit.com/r/CryptoCurrency/search?q="Ocean+Protocol"&restrict_sr=on&include_over_18=on&sort=relevance&t=all) **or** [**top**](https://old.reddit.com/r/CryptoCurrency/search/?q=Ocean+Protocol&include_over_18=on&restrict_sr=on&t=all&sort=top)**.** Find posts with numerous upvotes and sort the comments by controversial first. You might find some supportive or critical material worth borrowing. * **1st place doesn't take all,** so don't be discouraged! Both 2nd and 3rd places give you two more chances to win moons. Submit your pro-arguments below. Good luck and have fun.

posted by /u/CointestMod in /r/CointestOfficial on January 31, 2023 21:32:29

https://www.reddit.com/r/CointestOfficial/comments/10qi4qh/coin_inquiries_ocean_protocol_conarguments/

Welcome to the r/CryptoCurrency [Cointest](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy). For this thread, the category is Coin Inquiries and the topic is Ocean Protocol Con-Arguments. It will end three months from when it was submitted. Here are the [rules and guidelines](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy#wiki_rules). **SUGGESTIONS:** * **Use the** [**Cointest Archive**](https://old.reddit.com/r/CointestOfficial/wiki/cointest_archive) for some of the following suggestions. * **Preempt counter-points** in opposing threads (pro or con) to help make your arguments more complete. * **Read through these Ocean Protocol search listings sorted by** [**relevance**](https://old.reddit.com/r/CryptoCurrency/search?q="Ocean+Protocol"&restrict_sr=on&include_over_18=on&sort=relevance&t=all) **or** [**top**](https://old.reddit.com/r/CryptoCurrency/search/?q=Ocean+Protocol&include_over_18=on&restrict_sr=on&t=all&sort=top)**.** Find posts with numerous upvotes and sort the comments by controversial first. You might find some supportive or critical material worth borrowing. * **1st place doesn't take all,** so don't be discouraged! Both 2nd and 3rd places give you two more chances to win moons. Submit your con-arguments below. Good luck and have fun.

posted by /u/CointestMod in /r/CointestOfficial on January 31, 2023 21:32:04

https://www.reddit.com/r/CointestOfficial/comments/10qi48p/coin_inquiries_wrapped_bitcoin_wbtc_conarguments/

Welcome to the r/CryptoCurrency [Cointest](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy). For this thread, the category is Coin Inquiries and the topic is WBTC Con-Arguments. It will end three months from when it was submitted. Here are the [rules and guidelines](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy#wiki_rules). **SUGGESTIONS:** * **Use the** [**Cointest Archive**](https://old.reddit.com/r/CointestOfficial/wiki/cointest_archive) for some of the following suggestions. * **Preempt counter-points** in opposing threads (pro or con) to help make your arguments more complete. * **Read through these WBTC search listings sorted by** [**relevance**](https://old.reddit.com/r/CryptoCurrency/search?q=WBTC&restrict_sr=on&include_over_18=on&sort=relevance&t=all) **or** [**top**](https://old.reddit.com/r/CryptoCurrency/search/?q=WBTC&include_over_18=on&restrict_sr=on&t=all&sort=top)**.** Find posts with numerous upvotes and sort the comments by controversial first. You might find some supportive or critical material worth borrowing. * **1st place doesn't take all,** so don't be discouraged! Both 2nd and 3rd places give you two more chances to win moons. Submit your con-arguments below. Good luck and have fun.

posted by /u/CointestMod in /r/CointestOfficial on January 31, 2023 21:31:23

https://www.reddit.com/r/CointestOfficial/comments/10qi46n/coin_inquiries_osmosis_proarguments_february_2023/

Welcome to the r/CryptoCurrency [Cointest](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy). For this thread, the category is Coin Inquiries and the topic is Osmosis Pro-Arguments. It will end three months from when it was submitted. Here are the [rules and guidelines](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy#wiki_rules). **SUGGESTIONS:** * **Use the** [**Cointest Archive**](https://old.reddit.com/r/CointestOfficial/wiki/cointest_archive) for some of the following suggestions. * **Preempt counter-points** in opposing threads (pro or con) to help make your arguments more complete. * **Read through these Osmosis search listings sorted by** [**relevance**](https://old.reddit.com/r/CryptoCurrency/search?q=Osmosis&restrict_sr=on&include_over_18=on&sort=relevance&t=all) **or** [**top**](https://old.reddit.com/r/CryptoCurrency/search/?q=Osmosis&include_over_18=on&restrict_sr=on&t=all&sort=top)**.** Find posts with numerous upvotes and sort the comments by controversial first. You might find some supportive or critical material worth borrowing. * **1st place doesn't take all,** so don't be discouraged! Both 2nd and 3rd places give you two more chances to win moons. Submit your pro-arguments below. Good luck and have fun.

posted by /u/CointestMod in /r/CointestOfficial on January 31, 2023 21:31:18

https://www.reddit.com/r/CointestOfficial/comments/10qi43i/coin_inquiries_osmosis_conarguments_february_2023/

Welcome to the r/CryptoCurrency [Cointest](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy). For this thread, the category is Coin Inquiries and the topic is Osmosis Con-Arguments. It will end three months from when it was submitted. Here are the [rules and guidelines](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy#wiki_rules). **SUGGESTIONS:** * **Use the** [**Cointest Archive**](https://old.reddit.com/r/CointestOfficial/wiki/cointest_archive) for some of the following suggestions. * **Preempt counter-points** in opposing threads (pro or con) to help make your arguments more complete. * **Read through these Osmosis search listings sorted by** [**relevance**](https://old.reddit.com/r/CryptoCurrency/search?q=Osmosis&restrict_sr=on&include_over_18=on&sort=relevance&t=all) **or** [**top**](https://old.reddit.com/r/CryptoCurrency/search/?q=Osmosis&include_over_18=on&restrict_sr=on&t=all&sort=top)**.** Find posts with numerous upvotes and sort the comments by controversial first. You might find some supportive or critical material worth borrowing. * **1st place doesn't take all,** so don't be discouraged! Both 2nd and 3rd places give you two more chances to win moons. Submit your con-arguments below. Good luck and have fun.

posted by /u/CointestMod in /r/CointestOfficial on January 31, 2023 21:31:11

https://www.reddit.com/r/CointestOfficial/comments/10e005e/cointest_updates_top_coins_winners/

Greetings r/CryptoCurrency and r/CointestOfficial! We interrupt your bear market blues to announce that the October 2022 Top Coins round has ended and its threads are locked. For January 2023, a [new Top Coins round](https://old.reddit.com/r/CointestOfficial/search?q=flair%3ATOP%2BCOINS&restrict_sr=on&sort=new&t=all) has begun. All open topics you can participate in are listed at the end of this post. *As a reminder: the [**r\/CryptoCurrency Cointest**](https://old.reddit.com/r/CointestOfficial/comments/uwt5jh/start_here/) is an official, ongoing competition for crowdsourcing the best arguments in support of or against selected crypto topics by awarding [Moon prizes](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy#wiki_moon_prizes) to the winning contestants. The end goal is to provide r\/CC readers with a balanced source of quality information for their cryptocurrency research.* ###Selected Winners The Top Coins round started on October 1^st and ended on December 31^st 2022. A total of **11,000 moons** will be distributed to the selected winners after they complete a one month vetting stage. | Topic | 1st | 2nd | 3rd | | :-: | :-: | :-: | :-: | :-: | :-: | :-: | |Bitcoin Cons|[noxtrifle](https://np.reddit.com/r/CointestOfficial/comments/xsvuu9/top_coins_bitcoin_conarguments_october_2022/j175wyk/)|[Stompya](https://np.reddit.com/r/CointestOfficial/comments/xsvuu9/top_coins_bitcoin_conarguments_october_2022/j1uxr29/)|[CreepToeCurrentSea](https://np.reddit.com/r/CointestOfficial/comments/xsvuu9/top_coins_bitcoin_conarguments_october_2022/j0z0r1v/)| | Bitcoin Pros|[noxtrifle](https://np.reddit.com/r/CointestOfficial/comments/xsvuvr/top_coins_bitcoin_proarguments_october_2022/j0y3j3s/)|[Nostalg33k](https://np.reddit.com/r/CointestOfficial/comments/xsvuvr/top_coins_bitcoin_proarguments_october_2022/j18u2ul/)|[CreepToeCurrentSea](https://np.reddit.com/r/CointestOfficial/comments/xsvuvr/top_coins_bitcoin_proarguments_october_2022/j0uj2rj/)| | Cardano Cons|[noxtrifle](https://np.reddit.com/r/CointestOfficial/comments/xsvv29/top_coins_cardano_conarguments_october_2022/j28xhz1/)|[CreepToeCurrentSea](https://np.reddit.com/r/CointestOfficial/comments/xsvv29/top_coins_cardano_conarguments_october_2022/j1kr2op/)|-| | Cardano Pros|[noxtrifle](https://np.reddit.com/r/CointestOfficial/comments/xsvuzt/top_coins_cardano_proarguments_october_2022/j27dpgg/)|[CreepToeCurrentSea](https://np.reddit.com/r/CointestOfficial/comments/xsvuzt/top_coins_cardano_proarguments_october_2022/j1dy301/)| - | Cosmos Cons|[Shippior](https://np.reddit.com/r/CointestOfficial/comments/xsvv3y/top_coins_cosmos_conarguments_october_2022/j2d5ias/)|[gnarley_quinn](https://www.reddit.com/r/CointestOfficial/comments/xsvv3y/top_coins_cosmos_conarguments_october_2022/j0i7225/)|-| | Cosmos Pros|[Shippior](https://np.reddit.com/r/CointestOfficial/comments/xsvv5q/top_coins_cosmos_proarguments_october_2022/j2cy34e/)|[CreepToeCurrentSea](https://np.reddit.com/r/CointestOfficial/comments/xsvv5q/top_coins_cosmos_proarguments_october_2022/j1pv7f8/)|-| | Ethereum Cons|[noxtrifle](https://www.reddit.com/r/CointestOfficial/comments/xsvvph/top_coins_ethereum_conarguments_october_2022/j1hfp34/)|-| - | Ethereum Pros|[noxtrifle](https://www.reddit.com/r/CointestOfficial/comments/xsvvtk/top_coins_ethereum_proarguments_october_2022/j1h50zp/)|[ExchangeEnough7821](https://www.reddit.com/r/CointestOfficial/comments/xsvvtk/top_coins_ethereum_proarguments_october_2022/izlxwxp/)|-| | Polkadot Pros|[noxtrifle](https://np.reddit.com/r/CointestOfficial/comments/xsvvx5/top_coins_polkadot_proarguments_october_2022/j2dq9y6/)|-| - | Polkadot Cons|[noxtrifle](https://np.reddit.com/r/CointestOfficial/comments/xsvvzw/top_coins_polkadot_conarguments_october_2022/j2dwohs/)|-| - | **Best Analysis award goes to /u/noxtrifle for Bitcoin Con-Arguments. You can find the entry [here](https://np.reddit.com/r/CointestOfficial/comments/xsvuu9/top_coins_bitcoin_conarguments_october_2022/j175wyk/).** ###Bounties - Win moons for fact-checking and reporting violations As stated before, the arguments selected above will go through a [vetting stage](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy#wiki_bounties) lasting until the next mid-month update. This escrow period is for fact-checking and making sure the contestants did not violate any rules such as plagiarizing content or using sock puppets. Anyone who reviews the above arguments and finds one which violates a rule can submit a report in the [Bounties Megathread](https://www.reddit.com/r/CointestOfficial/comments/rot2hb/bounty_reports_megathread/). If the report is verified, the user who submitted the report will win a portion or the entire moon prize allocated for the argument in question. The vetting stage for [the prior General Concepts round](https://old.reddit.com/r/CointestOfficial/comments/xfw9ty/title_cointest_updates_general_concepts_winners/) has ended. No bounty reports were submitted so original winners results will stay the same and awards will be paid out promptly. ###Round Ending Soon The Coin Inquiries round will be ending on January 31. Below is a list of the topics: * [Algorand Pro](https://old.reddit.com/r/CointestOfficial/comments/yj8gdq/coin_inquiries_algorand_proarguments_november_2022/) * [Algorand Con](https://old.reddit.com/r/CointestOfficial/comments/yj8gge/coin_inquiries_algorand_conarguments_november_2022/) * [Chainlink Pro](https://old.reddit.com/r/CointestOfficial/comments/yj8gkn/coin_inquiries_chainlink_proarguments_november/) * [Chainlink Con](https://old.reddit.com/r/CointestOfficial/comments/yj8gmk/coin_inquiries_chainlink_conarguments_november/) * [Chiliz Pro](https://old.reddit.com/r/CointestOfficial/comments/yj8guv/coin_inquiries_chiliz_proarguments_november_2022/) * [Chiliz Con](https://old.reddit.com/r/CointestOfficial/comments/yj8h0j/coin_inquiries_chiliz_conarguments_november_2022/) * [Maker Pro](https://old.reddit.com/r/CointestOfficial/comments/yj8h2v/coin_inquiries_maker_proarguments_november_2022/) * [Maker Con](https://old.reddit.com/r/CointestOfficial/comments/yj8h3n/coin_inquiries_maker_conarguments_november_2022/) * [Quant Pro](https://old.reddit.com/r/CointestOfficial/comments/yj8h75/coin_inquiries_quant_proarguments_november_2022/) * [Quant Con](https://old.reddit.com/r/CointestOfficial/comments/yj8h9d/coin_inquiries_quant_conarguments_november_2022/) ###Latest Round The new Top Coins round has been live since January 1. Below is a list of the topics: * [Bitcoin Pro](https://old.reddit.com/r/CointestOfficial/comments/100p7vq/top_coins_bitcoin_proarguments_january_2023/) * [Bitcoin Con](https://old.reddit.com/r/CointestOfficial/comments/100p7u8/top_coins_bitcoin_conarguments_january_2023/) * [Binance USD (BUSD) Pro](https://old.reddit.com/r/CointestOfficial/comments/xsvuzt/top_coins_cardano_proarguments_october_2022/) * [Binance USD (BUSD) Con](https://old.reddit.com/r/CointestOfficial/comments/xsvv29/top_coins_cardano_conarguments_october_2022/) * [Dogecoin Pro](https://old.reddit.com/r/CointestOfficial/comments/10dzk27/top_coins_dogecoin_proarguments_january_2023/) * [Dogecoin Con](https://old.reddit.com/r/CointestOfficial/comments/10dzje7/top_coins_dogecoin_conarguments_january_2023/) * [Ethereum Pro](https://old.reddit.com/r/CointestOfficial/comments/100p71b/top_coins_ethereum_proarguments_january_2023/) * [Ethereum Con](https://old.reddit.com/r/CointestOfficial/comments/100p793/top_coins_ethereum_conarguments_january_2023/) * [Polygon Pro](https://old.reddit.com/r/CointestOfficial/comments/10dzkm8/top_coins_polygon_proarguments_january_2023/) * [Polygon Con](https://old.reddit.com/r/CointestOfficial/comments/10dzl8w/top_coins_polygon_conarguments_january_2023/) --- ###Reminders - [The registry](https://old.reddit.com/r/CointestOfficial/wiki/cointest_registry) collects all topics open for participation in one place. **See the column for General Concepts to find topics ending soon.** - [The archive](https://old.reddit.com/r/CointestOfficial/wiki/cointest_archive) lists out all current and closed topics. Users can find prior threads on a topic to help refine their arguments (or to help with DYOR). - [The policy section](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy) outlines Cointest rules and guidelines among other aspects of the project. Thank you for your attention.

posted by /u/CointestMod in /r/CointestOfficial on January 16, 2023 21:16:29

https://www.reddit.com/r/CointestOfficial/comments/10dzski/top_coins_binance_usd_busd_proarguments_january/

Welcome to the r/CryptoCurrency [Cointest](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy). For this thread, the category is Top Coins and the topic is BUSD Pro-Arguments. It will end three months from when it was submitted. Here are the [rules and guidelines](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy#wiki_rules). **SUGGESTIONS:** * **Preempt counter-points** in opposing threads (pro or con) to help make your arguments more complete. * **Read through these search listings sorted by** [**relevance**](https://old.reddit.com/r/CryptoCurrency/search?q=BUSD&restrict_sr=on&include_over_18=on&sort=&t=all) **or** [**top**](https://old.reddit.com/r/CryptoCurrency/search/?q=BUSD&include_over_18=on&restrict_sr=on&t=all&sort=top)**.** Find posts with a large number of upvotes and sort the comments by controversial first. You might find some supportive or critical comments worth borrowing. * **[Find](https://en.wikipedia.org/w/index.php?search=Binance&title=Special:Search&profile=advanced&fulltext=1&ns0=1) the BUSD Wikipedia page and read though the references.** The references section can be a great starting point for researching your argument. * **1st place doesn't take all,** so don't be discouraged! Both 2nd and 3rd places give you two more chances to win moons. Submit your pro-arguments below. Good luck and have fun.

posted by /u/CointestMod in /r/CointestOfficial on January 16, 2023 21:07:04

https://www.reddit.com/r/CointestOfficial/comments/10dzs16/top_coins_binance_usd_busd_conarguments_january/

Welcome to the r/CryptoCurrency [Cointest](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy). For this thread, the category is Top Coins and the topic is BUSD Con-Arguments. It will end three months from when it was submitted. Here are the [rules and guidelines](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy#wiki_rules). **SUGGESTIONS:** * **Preempt counter-points** in opposing threads (pro or con) to help make your arguments more complete. * **Read through these search listings sorted by** [**relevance**](https://old.reddit.com/r/CryptoCurrency/search?q=BUSD&restrict_sr=on&include_over_18=on&sort=&t=all) **or** [**top**](https://old.reddit.com/r/CryptoCurrency/search/?q=BUSD&include_over_18=on&restrict_sr=on&t=all&sort=top)**.** Find posts with a large number of upvotes and sort the comments by controversial first. You might find some supportive or critical comments worth borrowing. * **[Find](https://en.wikipedia.org/w/index.php?search=Binance&title=Special:Search&profile=advanced&fulltext=1&ns0=1) the BUSD Wikipedia page and read though the references.** The references section can be a great starting point for researching your argument. * **1st place doesn't take all,** so don't be discouraged! Both 2nd and 3rd places give you two more chances to win moons. Submit your con-arguments below. Good luck and have fun.

posted by /u/CointestMod in /r/CointestOfficial on January 16, 2023 21:06:22

https://www.reddit.com/r/CointestOfficial/comments/10dzl8w/top_coins_polygon_conarguments_january_2023/

Welcome to the r/CryptoCurrency [Cointest](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy). For this thread, the category is Top Coins and the topic is Polygon Con-Arguments. It will end three months from when it was submitted. Here are the [rules and guidelines](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy#wiki_rules). **SUGGESTIONS:** * **Use the** [**Cointest Archive**](https://old.reddit.com/r/CointestOfficial/wiki/cointest_archive) for some of the following suggestions. * **Read through prior threads** about Polygon to help refine your arguments. * **Preempt counter-points** in opposing threads (pro or con) to help make your arguments more complete. * **Read through these search listings sorted by** [**relevance**](https://old.reddit.com/r/CryptoCurrency/search?q=Polygon&restrict_sr=on&include_over_18=on&sort=&t=all) **or** [**top**](https://old.reddit.com/r/CryptoCurrency/search/?q=Polygon&include_over_18=on&restrict_sr=on&t=all&sort=top)**.** Find posts with a large number of upvotes and sort the comments by controversial first. You might find some supportive or critical comments worth borrowing. * **[Find](https://en.wikipedia.org/w/index.php?search=Polygon+%28blockchain%29&title=Special:Search&profile=advanced&fulltext=1&ns0=1) the Polygon Wikipedia page and read though the references.** The references section can be a great starting point for researching your argument. * **1st place doesn't take all,** so don't be discouraged! Both 2nd and 3rd places give you two more chances to win moons. Submit your con-arguments below. Good luck and have fun.

posted by /u/CointestMod in /r/CointestOfficial on January 16, 2023 20:58:14

https://www.reddit.com/r/CointestOfficial/comments/10dzkm8/top_coins_polygon_proarguments_january_2023/

Welcome to the r/CryptoCurrency [Cointest](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy). For this thread, the category is Top Coins and the topic is Polygon Pro-Arguments. It will end three months from when it was submitted. Here are the [rules and guidelines](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy#wiki_rules). **SUGGESTIONS:** * **Use the** [**Cointest Archive**](https://old.reddit.com/r/CointestOfficial/wiki/cointest_archive) for some of the following suggestions. * **Read through prior threads** about Polygon to help refine your arguments. * **Preempt counter-points** in opposing threads (pro or con) to help make your arguments more complete. * **Read through these search listings sorted by** [**relevance**](https://old.reddit.com/r/CryptoCurrency/search?q=Polygon&restrict_sr=on&include_over_18=on&sort=&t=all) **or** [**top**](https://old.reddit.com/r/CryptoCurrency/search/?q=Polygon&include_over_18=on&restrict_sr=on&t=all&sort=top)**.** Find posts with a large number of upvotes and sort the comments by controversial first. You might find some supportive or critical comments worth borrowing. * **[Find](https://en.wikipedia.org/w/index.php?search=Polygon+%28blockchain%29&title=Special:Search&profile=advanced&fulltext=1&ns0=1) the Polygon Wikipedia page and read though the references.** The references section can be a great starting point for researching your argument. * **1st place doesn't take all,** so don't be discouraged! Both 2nd and 3rd places give you two more chances to win moons. Submit your pro-arguments below. Good luck and have fun.

posted by /u/CointestMod in /r/CointestOfficial on January 16, 2023 20:57:27

https://www.reddit.com/r/CointestOfficial/comments/10dzk27/top_coins_dogecoin_proarguments_january_2023/

Welcome to the r/CryptoCurrency [Cointest](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy). For this thread, the category is Top Coins and the topic is Dogecoin **Pro-Arguments**. It will end three months from when it was submitted. Here are the [rules and guidelines](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy#wiki_rules). **SUGGESTIONS:** * **Use the** [**Cointest Archive**](https://old.reddit.com/r/CointestOfficial/wiki/cointest_archive) for some of the following suggestions. * **Preempt counter-points** in opposing threads (pro or con) to help make your arguments more complete. * **Read through these Dogecoin search listings sorted by** [**relevance**](https://old.reddit.com/r/CryptoCurrency/search?q=Dogecoin&restrict_sr=on&include_over_18=on&sort=relevance&t=all) **or** [**top**](https://old.reddit.com/r/CryptoCurrency/search/?q=Dogecoin&include_over_18=on&restrict_sr=on&t=all&sort=top)**.** Find posts with numerous upvotes and sort the comments by controversial first. You might find some supportive or critical material worth borrowing. * **[Find](https://en.wikipedia.org/w/index.php?search=Dogecoin&title=Special%3ASearch&confile=default&fulltext=1&ns0=1) the Dogecoin Wikipedia page and read through the references.** The references section can be a great starting point for researching your argument. * **1st place doesn't take all,** so don't be discouraged! Both 2nd and 3rd places give you two more chances to win moons. Submit your pro-arguments below. Good luck and have fun.

posted by /u/CointestMod in /r/CointestOfficial on January 16, 2023 20:56:46

https://www.reddit.com/r/CointestOfficial/comments/10dzje7/top_coins_dogecoin_conarguments_january_2023/

Welcome to the r/CryptoCurrency [Cointest](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy). For this thread, the category is Top Coins and the topic is Dogecoin **Con-Arguments**. It will end three months from when it was submitted. Here are the [rules and guidelines](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy#wiki_rules). **SUGGESTIONS:** * **Use the** [**Cointest Archive**](https://old.reddit.com/r/CointestOfficial/wiki/cointest_archive) for some of the following suggestions. * **Preempt counter-points** in opposing threads (pro or con) to help make your arguments more complete. * **Read through these Dogecoin search listings sorted by** [**relevance**](https://old.reddit.com/r/CryptoCurrency/search?q=Dogecoin&restrict_sr=on&include_over_18=on&sort=relevance&t=all) **or** [**top**](https://old.reddit.com/r/CryptoCurrency/search/?q=Dogecoin&include_over_18=on&restrict_sr=on&t=all&sort=top)**.** Find posts with numerous upvotes and sort the comments by controversial first. You might find some supportive or critical material worth borrowing. * **[Find](https://en.wikipedia.org/w/index.php?search=Dogecoin&title=Special%3ASearch&confile=default&fulltext=1&ns0=1) the Dogecoin Wikipedia page and read through the references.** The references section can be a great starting point for researching your argument. * **1st place doesn't take all,** so don't be discouraged! Both 2nd and 3rd places give you two more chances to win moons. Submit your con-arguments below. Good luck and have fun.

posted by /u/CointestMod in /r/CointestOfficial on January 16, 2023 20:55:58

https://www.reddit.com/r/CointestOfficial/comments/100p8uv/coin_inquiries_polygon_proarguments_january_2023/

Welcome to the r/CryptoCurrency [Cointest](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy). For this thread, the category is Top Coins and the topic is Polygon Pro-Arguments. It will end three months from when it was submitted. Here are the [rules and guidelines](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy#wiki_rules). **SUGGESTIONS:** * **Use the** [**Cointest Archive**](https://old.reddit.com/r/CointestOfficial/wiki/cointest_archive) for some of the following suggestions. * **Read through prior threads** about Polygon to help refine your arguments. * **Preempt counter-points** in opposing threads (pro or con) to help make your arguments more complete. * **Read through these search listings sorted by** [**relevance**](https://old.reddit.com/r/CryptoCurrency/search?q=Polygon&restrict_sr=on&include_over_18=on&sort=&t=all) **or** [**top**](https://old.reddit.com/r/CryptoCurrency/search/?q=Polygon&include_over_18=on&restrict_sr=on&t=all&sort=top)**.** Find posts with a large number of upvotes and sort the comments by controversial first. You might find some supportive or critical comments worth borrowing. * **[Find](https://en.wikipedia.org/w/index.php?search=Polygon+%28blockchain%29&title=Special:Search&profile=advanced&fulltext=1&ns0=1) the Polygon Wikipedia page and read though the references.** The references section can be a great starting point for researching your argument. * **1st place doesn't take all,** so don't be discouraged! Both 2nd and 3rd places give you two more chances to win moons. Submit your pro-arguments below. Good luck and have fun.

posted by /u/CointestMod in /r/CointestOfficial on January 1, 2023 13:04:45

https://www.reddit.com/r/CointestOfficial/comments/100p8ii/coin_inquiries_dogecoin_proarguments_january_2023/

Welcome to the r/CryptoCurrency [Cointest](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy). For this thread, the category is Top Coins and the topic is Dogecoin **Pro-Arguments**. It will end three months from when it was submitted. Here are the [rules and guidelines](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy#wiki_rules). **SUGGESTIONS:** * **Use the** [**Cointest Archive**](https://old.reddit.com/r/CointestOfficial/wiki/cointest_archive) for some of the following suggestions. * **Preempt counter-points** in opposing threads (pro or con) to help make your arguments more complete. * **Read through these Dogecoin search listings sorted by** [**relevance**](https://old.reddit.com/r/CryptoCurrency/search?q=Dogecoin&restrict_sr=on&include_over_18=on&sort=relevance&t=all) **or** [**top**](https://old.reddit.com/r/CryptoCurrency/search/?q=Dogecoin&include_over_18=on&restrict_sr=on&t=all&sort=top)**.** Find posts with numerous upvotes and sort the comments by controversial first. You might find some supportive or critical material worth borrowing. * **[Find](https://en.wikipedia.org/w/index.php?search=Dogecoin&title=Special%3ASearch&confile=default&fulltext=1&ns0=1) the Dogecoin Wikipedia page and read through the references.** The references section can be a great starting point for researching your argument. * **1st place doesn't take all,** so don't be discouraged! Both 2nd and 3rd places give you two more chances to win moons. Submit your pro-arguments below. Good luck and have fun.

posted by /u/CointestMod in /r/CointestOfficial on January 1, 2023 13:04:17

https://www.reddit.com/r/CointestOfficial/comments/100p8ez/coin_inquiries_dogecoin_conarguments_january_2023/

Welcome to the r/CryptoCurrency [Cointest](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy). For this thread, the category is Top Coins and the topic is Dogecoin **Con-Arguments**. It will end three months from when it was submitted. Here are the [rules and guidelines](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy#wiki_rules). **SUGGESTIONS:** * **Use the** [**Cointest Archive**](https://old.reddit.com/r/CointestOfficial/wiki/cointest_archive) for some of the following suggestions. * **Preempt counter-points** in opposing threads (pro or con) to help make your arguments more complete. * **Read through these Dogecoin search listings sorted by** [**relevance**](https://old.reddit.com/r/CryptoCurrency/search?q=Dogecoin&restrict_sr=on&include_over_18=on&sort=relevance&t=all) **or** [**top**](https://old.reddit.com/r/CryptoCurrency/search/?q=Dogecoin&include_over_18=on&restrict_sr=on&t=all&sort=top)**.** Find posts with numerous upvotes and sort the comments by controversial first. You might find some supportive or critical material worth borrowing. * **[Find](https://en.wikipedia.org/w/index.php?search=Dogecoin&title=Special%3ASearch&confile=default&fulltext=1&ns0=1) the Dogecoin Wikipedia page and read through the references.** The references section can be a great starting point for researching your argument. * **1st place doesn't take all,** so don't be discouraged! Both 2nd and 3rd places give you two more chances to win moons. Submit your con-arguments below. Good luck and have fun.

posted by /u/CointestMod in /r/CointestOfficial on January 1, 2023 13:04:10

https://www.reddit.com/r/CointestOfficial/comments/100p7vq/top_coins_bitcoin_proarguments_january_2023/

Welcome to the r/CryptoCurrency [Cointest](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy). For this thread, the category is Top Coins and the topic is Bitcoin Pro-Arguments. It will end three months from when it was submitted. Here are the [rules and guidelines](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy#wiki_rules). **SUGGESTIONS:** * **Use the** [**Cointest Archive**](https://old.reddit.com/r/CointestOfficial/wiki/cointest_archive) for some of the following suggestions. * **Preempt counter-points** in opposing threads (pro or con) to help make your arguments more complete. * **Read through these Bitcoin search listings sorted by** [**relevance**](https://old.reddit.com/r/CryptoCurrency/search?q=Bitcoin&restrict_sr=on&include_over_18=on&sort=relevance&t=all) **or** [**top**](https://old.reddit.com/r/CryptoCurrency/search/?q=Bitcoin&include_over_18=on&restrict_sr=on&t=all&sort=top)**.** Find posts with numerous upvotes and sort the comments by controversial first. You might find some supportive or critical material worth borrowing. * **[Find](https://en.wikipedia.org/w/index.php?search=Bitcoin&title=Special%3ASearch&profile=default&fulltext=1&ns0=1) the Bitcoin Wikipedia page and read through the references.** The references section can be a great starting point for researching your argument. * **1st place doesn't take all,** so don't be discouraged! Both 2nd and 3rd places give you two more chances to win moons. Submit your pro-arguments below. Good luck and have fun.

posted by /u/CointestMod in /r/CointestOfficial on January 1, 2023 13:03:28

https://www.reddit.com/r/CointestOfficial/comments/100p7u8/top_coins_bitcoin_conarguments_january_2023/

Welcome to the r/CryptoCurrency [Cointest](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy). For this thread, the category is Top Coins and the topic is Bitcoin Con-Arguments. It will end three months from when it was submitted. Here are the [rules and guidelines](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy#wiki_rules). **SUGGESTIONS:** * **Use the** [**Cointest Archive**](https://old.reddit.com/r/CointestOfficial/wiki/cointest_archive) for some of the following suggestions. * **Preempt counter-points** in opposing threads (con or con) to help make your arguments more complete. * **Read through these Bitcoin search listings sorted by** [**relevance**](https://old.reddit.com/r/CryptoCurrency/search?q=Bitcoin&restrict_sr=on&include_over_18=on&sort=relevance&t=all) **or** [**top**](https://old.reddit.com/r/CryptoCurrency/search/?q=Bitcoin&include_over_18=on&restrict_sr=on&t=all&sort=top)**.** Find posts with numerous upvotes and sort the comments by controversial first. You might find some supportive or critical material worth borrowing. * **[Find](https://en.wikipedia.org/w/index.php?search=Bitcoin&title=Special%3ASearch&confile=default&fulltext=1&ns0=1) the Bitcoin Wikipedia page and read through the references.** The references section can be a great starting point for researching your argument. * **1st place doesn't take all,** so don't be discouraged! Both 2nd and 3rd places give you two more chances to win moons. Submit your con-arguments below. Good luck and have fun.

posted by /u/CointestMod in /r/CointestOfficial on January 1, 2023 13:03:25

https://www.reddit.com/r/CointestOfficial/comments/100p793/top_coins_ethereum_conarguments_january_2023/

Welcome to the r/CryptoCurrency [Cointest](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy). For this thread, the category is Top Coins and the topic is Ethereum Con-Arguments. It will end three months from when it was submitted. Here are the [rules and guidelines](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy#wiki_rules). **SUGGESTIONS:** * **Use the** [**Cointest Archive**](https://old.reddit.com/r/CointestOfficial/wiki/cointest_archive) for some of the following suggestions. * **Preempt counter-points** in opposing threads (con or con) to help make your arguments more complete. * **Read through these Ethereum search listings sorted by** [**relevance**](https://old.reddit.com/r/CryptoCurrency/search?q=Ethereum&restrict_sr=on&include_over_18=on&sort=relevance&t=all) **or** [**top**](https://old.reddit.com/r/CryptoCurrency/search/?q=Ethereum&include_over_18=on&restrict_sr=on&t=all&sort=top)**.** Find posts with numerous upvotes and sort the comments by controversial first. You might find some supportive or critical material worth borrowing. * **[Find](https://en.wikipedia.org/w/index.php?search=Ethereum&title=Special%3ASearch&confile=default&fulltext=1&ns0=1) the Ethereum Wikipedia page and read through the references.** The references section can be a great starting point for researching your argument. * **1st place doesn't take all,** so don't be discouraged! Both 2nd and 3rd places give you two more chances to win moons. Submit your con-arguments below. Good luck and have fun.

posted by /u/CointestMod in /r/CointestOfficial on January 1, 2023 13:02:41

https://www.reddit.com/r/CointestOfficial/comments/100p71b/top_coins_ethereum_proarguments_january_2023/

Welcome to the r/CryptoCurrency [Cointest](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy). For this thread, the category is Top Coins and the topic is Ethereum Pro-Arguments. It will end three months from when it was submitted. Here are the [rules and guidelines](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy#wiki_rules). **SUGGESTIONS:** * **Use the** [**Cointest Archive**](https://old.reddit.com/r/CointestOfficial/wiki/cointest_archive) for some of the following suggestions. * **Preempt counter-points** in opposing threads (pro or con) to help make your arguments more complete. * **Read through these Ethereum search listings sorted by** [**relevance**](https://old.reddit.com/r/CryptoCurrency/search?q=Ethereum&restrict_sr=on&include_over_18=on&sort=relevance&t=all) **or** [**top**](https://old.reddit.com/r/CryptoCurrency/search/?q=Ethereum&include_over_18=on&restrict_sr=on&t=all&sort=top)**.** Find posts with numerous upvotes and sort the comments by controversial first. You might find some supportive or critical material worth borrowing. * **[Find](https://en.wikipedia.org/w/index.php?search=Ethereum&title=Special%3ASearch&profile=default&fulltext=1&ns0=1) the Ethereum Wikipedia page and read through the references.** The references section can be a great starting point for researching your argument. * **1st place doesn't take all,** so don't be discouraged! Both 2nd and 3rd places give you two more chances to win moons. Submit your pro-arguments below. Good luck and have fun.

posted by /u/CointestMod in /r/CointestOfficial on January 1, 2023 13:02:25

https://www.reddit.com/r/CointestOfficial/comments/zni69n/cointest_updates_general_concepts_winners/

Greetings r/CryptoCurrency and r/CointestOfficial! The September 2022 General Concepts round has ended and its topic-threads are locked. For December 2022, a [new General Concepts round](https://old.reddit.com/r/CointestOfficial/search?q=flair%3AGENERAL%2BCONCEPTS&restrict_sr=on&sort=new&t=all) has begun. All open topics you can participate in are listed at the end of the post. *As a reminder: the [**r\/CryptoCurrency Cointest**](https://old.reddit.com/r/CointestOfficial/comments/uwt5jh/start_here/) is an official, ongoing competition to crowdsource the best arguments in support of or against selected crypto topics. [**Moon prizes**](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy#wiki_moon_prizes) are awarded to the winning contestants. The end goal is to provide r\/CC readers with a balanced source of quality information for their cryptocurrency research.* --- ###Selected Winners This General Concepts round started on September 1^st and ended on November 30^th 2022. **11,000 moons** will be divided among the winners after they complete a one month vetting stage. | Topic | 1st | 2nd | 3rd | | :-: | :-: | :-: | :-: | :-: | :-: | :-: | | Decentralization Cons|[Shippior](https://old.reddit.com/r/CointestOfficial/comments/x5muim/general_concepts_decentralization_conarguments/ixydp3l/)|[excalilbug](https://old.reddit.com/r/CointestOfficial/comments/x5muim/general_concepts_decentralization_conarguments/iyd1m0d/)|[CreepToeCurrentSea](https://old.reddit.com/r/CointestOfficial/comments/x5muim/general_concepts_decentralization_conarguments/iqv6skw/)| | Decentralization Pros|[ CreepToeCurrentSea](https://old.reddit.com/r/CointestOfficial/comments/x5muho/general_concepts_decentralization_proarguments/iqm33ry/)|[excalilbug ](https://old.reddit.com/r/CointestOfficial/comments/x5muho/general_concepts_decentralization_proarguments/iyd3fqj/)|-| | GameFi Cons|[CreepToeCurrentSea](https://old.reddit.com/r/CointestOfficial/comments/x5mun5/general_concepts_gamefi_conarguments_september/iv57r1d/)|[strudelpower](https://old.reddit.com/r/CointestOfficial/comments/x5mun5/general_concepts_gamefi_conarguments_september/iwu1bhq/)|-| | GameFi Pros|[Nostalg33k](https://old.reddit.com/r/CointestOfficial/comments/x5mumj/general_concepts_gamefi_proarguments_september/ixr6a7v/)|[CreepToeCurrentSea](https://old.reddit.com/r/CointestOfficial/comments/x5mumj/general_concepts_gamefi_proarguments_september/irmbxcg/)| [strudelpower](https://old.reddit.com/r/CointestOfficial/comments/x5mumj/general_concepts_gamefi_proarguments_september/iwtzogv/) | Liquid Staking Cons|[Shippior](https://old.reddit.com/r/CointestOfficial/comments/x5mum6/general_concepts_liquid_staking_conarguments/iy9njmu/)|[strudelpower](https://old.reddit.com/r/CointestOfficial/comments/x5mum6/general_concepts_liquid_staking_conarguments/ixpxmki/)|[Maleficent_Plankton](https://old.reddit.com/r/CointestOfficial/comments/x5mum6/general_concepts_liquid_staking_conarguments/iy7ecy8/)| | Liquid Staking Pros|[Shippior](https://old.reddit.com/r/CointestOfficial/comments/x5mulj/general_concepts_liquid_staking_proarguments/iy9mg7g/)|[Maleficent_Plankton](https://old.reddit.com/r/CointestOfficial/comments/x5mulj/general_concepts_liquid_staking_proarguments/iy7bw3m/)|[strudelpower](https://old.reddit.com/r/CointestOfficial/comments/x5mulj/general_concepts_liquid_staking_proarguments/ixpvwir/)| | Privacy Cons|[noxtrifle](https://old.reddit.com/r/CointestOfficial/comments/x5muk0/general_concepts_privacy_conarguments_september/ix7newa/)|[CreepToeCurrentSea](https://old.reddit.com/r/CointestOfficial/comments/x5muk0/general_concepts_privacy_conarguments_september/iyciqz3/)| [strudelpower](https://old.reddit.com/r/CointestOfficial/comments/x5muk0/general_concepts_privacy_conarguments_september/ixps3om/) | Privacy Pros|[noxtrifle](https://old.reddit.com/r/CointestOfficial/comments/x5muj9/general_concepts_privacy_proarguments_september/iwpd0hm/)|[CreepToeCurrentSea](https://old.reddit.com/r/CointestOfficial/comments/x5muj9/general_concepts_privacy_proarguments_september/iyc7dmp/)| [strudelpower](https://old.reddit.com/r/CointestOfficial/comments/x5muj9/general_concepts_privacy_proarguments_september/ixptb7o/) | Scarcity (Tokenomics) Cons|[Maleficent_Plankton](https://old.reddit.com/r/CointestOfficial/comments/x5muky/general_concepts_scarcity_tokenomics_conarguments/ixwafgj/)|[Shippior](https://old.reddit.com/r/CointestOfficial/comments/x5muky/general_concepts_scarcity_tokenomics_conarguments/iy9uq0b/)| [strudelpower](https://old.reddit.com/r/CointestOfficial/comments/x5muky/general_concepts_scarcity_tokenomics_conarguments/iy0ic2l/) | | Scarcity (Tokenomics) Pros|[noxtrifle](https://old.reddit.com/r/CointestOfficial/comments/x5mukj/general_concepts_scarcity_tokenomics_proarguments/ixu09t8/)|[strudelpower](https://old.reddit.com/r/CointestOfficial/comments/x5mukj/general_concepts_scarcity_tokenomics_proarguments/iy0eris/)|[cryotosensei](https://old.reddit.com/r/CointestOfficial/comments/x5mukj/general_concepts_scarcity_tokenomics_proarguments/ix2e3og/)| Best Analysis award goes to u/Maleficent_Plankton for Scarcity (Tokenomics) Con-Arguments. You can find the entry [here](https://old.reddit.com/r/CointestOfficial/comments/x5muky/general_concepts_scarcity_tokenomics_conarguments/ixwafgj/). Congrats!~ --- ###Bounties - Win moons for fact-checking and reporting violations As stated before, the arguments selected above go through a one month [vetting stage](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy#wiki_bounties). This escrow period is for fact-checking and making sure the contestants did not violate any rules such as plagiarizing content or using sock puppet accounts. Anyone who reviews the above arguments and finds one which violates a rule can submit a report in the [Bounties Megathread](https://www.reddit.com/r/CointestOfficial/comments/rot2hb/bounty_reports_megathread/). If the report is verified, the user who submitted the report will win moons. **The vetting stage for [the prior Coin Inquiries round](https://old.reddit.com/r/CryptoCurrency/comments/yxwwmm/rcc_cointest_coin_inquiries_winners_general/) has ended. No bounty reports were submitted so winner results will stay the same.** ###Round Ending Soon The Top Coins round will be ending in two weeks. Below is a list of the topics: * [Bitcoin Pro](https://old.reddit.com/r/CointestOfficial/comments/xsvuvr/top_coins_bitcoin_proarguments_october_2022/) * [Bitcoin Con](https://old.reddit.com/r/CointestOfficial/comments/xsvuu9/top_coins_bitcoin_conarguments_october_2022/) * [Cardano Pro](https://old.reddit.com/r/CointestOfficial/comments/xsvuzt/top_coins_cardano_proarguments_october_2022/) * [Cardano Con](https://old.reddit.com/r/CointestOfficial/comments/xsvv29/top_coins_cardano_conarguments_october_2022/) * [Cosmos Pro](https://old.reddit.com/r/CointestOfficial/comments/xsvv5q/top_coins_cosmos_proarguments_october_2022/) * [Cosmos Con](https://old.reddit.com/r/CointestOfficial/comments/xsvv3y/top_coins_cosmos_conarguments_october_2022/) * [Ethereum Pro](https://old.reddit.com/r/CointestOfficial/comments/xsvvtk/top_coins_ethereum_proarguments_october_2022/) * [Ethereum Con](https://old.reddit.com/r/CointestOfficial/comments/xsvvph/top_coins_ethereum_conarguments_october_2022/) * [Polkadot Pro](https://old.reddit.com/r/CointestOfficial/comments/xsvvx5/top_coins_polkadot_proarguments_october_2022/) * [Polkadot Con](https://old.reddit.com/r/CointestOfficial/comments/xsvvzw/top_coins_polkadot_conarguments_october_2022/) ###Latest Round The current General Concepts round has been live since the start of the month. Below is a list of the topics: * [CEX Pro](https://old.reddit.com/r/CointestOfficial/comments/z9o0rc/general_concepts_cex_proarguments_december_2022/) * [CEX Con](https://old.reddit.com/r/CointestOfficial/comments/z9o0fy/general_concepts_cex_conarguments_december_2022/) * [DEX Pro](https://old.reddit.com/r/CointestOfficial/comments/z9o08y/general_concepts_dex_proarguments_december_2022/) * [DEX Con](https://old.reddit.com/r/CointestOfficial/comments/z9nzxm/general_concepts_dex_conarguments_december_2022/) * [Government Regulation Pro](https://old.reddit.com/r/CointestOfficial/comments/z9o13c/general_concepts_government_regulation/) * [Government Regulation Con](https://old.reddit.com/r/CointestOfficial/comments/z9o0y0/general_concepts_government_regulation/) * [Proof of Reserves Pro](https://old.reddit.com/r/CointestOfficial/comments/z9o1cr/general_concepts_proof_of_reserves_proarguments/) * [Proof of Reserves Con](https://old.reddit.com/r/CointestOfficial/comments/z9o18d/general_concepts_proof_of_reserves_conarguments/) * [Web3 Pro](https://old.reddit.com/r/CointestOfficial/comments/z9o1s3/general_concepts_web3_proarguments_december_2022/) * [Web3 Con](https://old.reddit.com/r/CointestOfficial/comments/z9o1nt/general_concepts_web3_conarguments_december_2022/) --- ###Reminders - [The registry](https://old.reddit.com/r/CointestOfficial/wiki/cointest_registry) collects all topics open for participation in one place. **See the column for General Concepts to find topics ending soon.** - [The archive](https://old.reddit.com/r/CointestOfficial/wiki/cointest_archive) lists out all current and closed topics. Users can find prior threads on a topic to help refine their arguments (or to help with DYOR). - [The policy section](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy) outlines Cointest rules and guidelines among other aspects of the project. Thank you for your attention.

posted by /u/CointestMod in /r/CointestOfficial on December 16, 2022 11:06:29

https://www.reddit.com/r/CointestOfficial/comments/z9o1s3/general_concepts_web3_proarguments_december_2022/

Welcome to the r/CryptoCurrency [Cointest](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy). For this thread, the category is General Concepts and the topic is Web3 Pro-Arguments. It will end three months from when it was submitted. Here are the [rules and guidelines](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy#wiki_rules). **SUGGESTIONS:** * **Use the** [**Cointest Archive**](https://old.reddit.com/r/CointestOfficial/wiki/cointest_archive) for some of the following suggestions. * **Read through prior threads** about Web3 to help refine your arguments. * **Preempt counter-points** in opposing threads (pro or con) to help make your arguments more complete. * **Read through these Web3 search listings sorted by** [**relevance**](https://old.reddit.com/r/CryptoCurrency/search?q=Web3&restrict_sr=on&include_over_18=on&sort=relevance&t=all) **or** [**top**](https://old.reddit.com/r/CryptoCurrency/search/?q=Web3&include_over_18=on&restrict_sr=on&t=all&sort=top)**.** Find posts with a large number of upvotes and sort the comments by controversial first. You might find some supportive or critical comments worth borrowing. * **[Find](https://en.wikipedia.org/w/index.php?search=Web3&title=Special:Search&profile=advanced&fulltext=1&ns0=1) the Web3 Wikipedia page and read though the references.** The references section can be a great starting point for researching your argument. * **1st place doesn't take all,** so don't be discouraged! Both 2nd and 3rd places give you two more chances to win moons. Submit your pro-arguments below. Good luck and have fun.

posted by /u/CointestMod in /r/CointestOfficial on December 1, 2022 08:35:29

https://www.reddit.com/r/CointestOfficial/comments/z9o1nt/general_concepts_web3_conarguments_december_2022/

Welcome to the r/CryptoCurrency [Cointest](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy). For this thread, the category is General Concepts and the topic is Web3 Con-Arguments. It will end three months from when it was submitted. Here are the [rules and guidelines](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy#wiki_rules). **SUGGESTIONS:** * **Use the** [**Cointest Archive**](https://old.reddit.com/r/CointestOfficial/wiki/cointest_archive) for some of the following suggestions. * **Read through prior threads** about Web3 to help refine your arguments. * **Preempt counter-points** in opposing threads (pro or con) to help make your arguments more complete. * **Read through these Web3 search listings sorted by** [**relevance**](https://old.reddit.com/r/CryptoCurrency/search?q=Web3&restrict_sr=on&include_over_18=on&sort=relevance&t=all) **or** [**top**](https://old.reddit.com/r/CryptoCurrency/search/?q=Web3&include_over_18=on&restrict_sr=on&t=all&sort=top)**.** Find posts with a large number of upvotes and sort the comments by controversial first. You might find some supportive or critical comments worth borrowing. * **[Find](https://en.wikipedia.org/w/index.php?search=Web3&title=Special:Search&profile=advanced&fulltext=1&ns0=1) the Web3 Wikipedia page and read though the references.** The references section can be a great starting point for researching your argument. * **1st place doesn't take all,** so don't be discouraged! Both 2nd and 3rd places give you two more chances to win moons. Submit your con-arguments below. Good luck and have fun.

posted by /u/CointestMod in /r/CointestOfficial on December 1, 2022 08:35:21

https://www.reddit.com/r/CointestOfficial/comments/z9o13c/general_concepts_government_regulation/

Welcome to the r/CryptoCurrency [Cointest](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy). For this thread, the category is General Concepts and the topic is Government Regulation Pro-Arguments. It will end three months from when it was submitted. Here are the [rules and guidelines](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy#wiki_rules). **SUGGESTIONS:** * **Use the** [**Cointest Archive**](https://old.reddit.com/r/CointestOfficial/wiki/cointest_archive) for some of the following suggestions. * **Read through prior threads** about Government Regulation to help refine your arguments. * **Preempt counter-points** in opposing threads (pro or con) to help make your arguments more complete. * **Read through these Government Regulation search listings sorted by** [**relevance**](https://old.reddit.com/r/CryptoCurrency/search?q=regulation&restrict_sr=on&include_over_18=on&sort=relevance&t=all) **or** [**top**](https://old.reddit.com/r/CryptoCurrency/search/?q=regulation&include_over_18=on&restrict_sr=on&t=all&sort=top)**.** Find posts with a large number of upvotes and sort the comments by controversial first. You might find some supportive or critical comments worth borrowing. * **1st place doesn't take all,** so don't be discouraged! Both 2nd and 3rd places give you two more chances to win moons. Submit your pro-arguments below. Good luck and have fun.

posted by /u/CointestMod in /r/CointestOfficial on December 1, 2022 08:34:40

https://www.reddit.com/r/CointestOfficial/comments/z9o0y0/general_concepts_government_regulation/

Welcome to the r/CryptoCurrency [Cointest](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy). For this thread, the category is General Concepts and the topic is Government Regulation Con-Arguments. It will end three months from when it was submitted. Here are the [rules and guidelines](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy#wiki_rules). **SUGGESTIONS:** * **Use the** [**Cointest Archive**](https://old.reddit.com/r/CointestOfficial/wiki/cointest_archive) for some of the following suggestions. * **Read through prior threads** about Government Regulation to help refine your arguments. * **Preempt counter-points** in opposing threads (pro or con) to help make your arguments more complete. * **Read through these Government Regulation search listings sorted by** [**relevance**](https://old.reddit.com/r/CryptoCurrency/search?q=regulation&restrict_sr=on&include_over_18=on&sort=relevance&t=all) **or** [**top**](https://old.reddit.com/r/CryptoCurrency/search/?q=regulation&include_over_18=on&restrict_sr=on&t=all&sort=top)**.** Find posts with a large number of upvotes and sort the comments by controversial first. You might find some supportive or critical comments worth borrowing. * **1st place doesn't take all,** so don't be discouraged! Both 2nd and 3rd places give you two more chances to win moons. Submit your con-arguments below. Good luck and have fun.

posted by /u/CointestMod in /r/CointestOfficial on December 1, 2022 08:34:30

https://www.reddit.com/r/CointestOfficial/comments/z9o0rc/general_concepts_cex_proarguments_december_2022/

Welcome to the r/CryptoCurrency [Cointest](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy). For this thread, the category is General Concepts and the topic is CEX Pro-Arguments. It will end three months from when it was submitted. Here are the [rules and guidelines](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy#wiki_rules). **SUGGESTIONS:** * **Use the** [**Cointest Archive**](https://old.reddit.com/r/CointestOfficial/wiki/cointest_archive) for some of the following suggestions. * **Read through prior threads** about CEX to help refine your arguments. * **Preempt counter-points** in opposing threads (pro or con) to help make your arguments more complete. * **Read through these CEX search listings sorted by** [**relevance**](https://old.reddit.com/r/CryptoCurrency/search?q=CEX&restrict_sr=on&include_over_18=on&sort=relevance&t=all) **or** [**top**](https://old.reddit.com/r/CryptoCurrency/search/?q=CEX&include_over_18=on&restrict_sr=on&t=all&sort=top)**.** Find posts with a large number of upvotes and sort the comments by controversial first. You might find some supportive or critical comments worth borrowing. * **[Find](https://en.wikipedia.org/w/index.php?search=cryptocurrency+exchange&title=Special:Search&profile=advanced&fulltext=1&ns0=1) the CEX Wikipedia page and read though the references.** The references section can be a great starting point for researching your argument. * **1st place doesn't take all,** so don't be discouraged! Both 2nd and 3rd places give you two more chances to win moons. Submit your pro-arguments below. Good luck and have fun.

posted by /u/CointestMod in /r/CointestOfficial on December 1, 2022 08:34:16

https://www.reddit.com/r/CointestOfficial/comments/z9o0fy/general_concepts_cex_conarguments_december_2022/

Welcome to the r/CryptoCurrency [Cointest](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy). For this thread, the category is General Concepts and the topic is CEX Con-Arguments. It will end three months from when it was submitted. Here are the [rules and guidelines](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy#wiki_rules). **SUGGESTIONS:** * **Use the** [**Cointest Archive**](https://old.reddit.com/r/CointestOfficial/wiki/cointest_archive) for some of the following suggestions. * **Read through prior threads** about CEX to help refine your arguments. * **Preempt counter-points** in opposing threads (pro or con) to help make your arguments more complete. * **Read through these CEX search listings sorted by** [**relevance**](https://old.reddit.com/r/CryptoCurrency/search?q=CEX&restrict_sr=on&include_over_18=on&sort=relevance&t=all) **or** [**top**](https://old.reddit.com/r/CryptoCurrency/search/?q=CEX&include_over_18=on&restrict_sr=on&t=all&sort=top)**.** Find posts with a large number of upvotes and sort the comments by controversial first. You might find some supportive or critical comments worth borrowing. * **[Find](https://en.wikipedia.org/w/index.php?search=cryptocurrency+exchange&title=Special:Search&profile=advanced&fulltext=1&ns0=1) the CEX Wikipedia page and read though the references.** The references section can be a great starting point for researching your argument. * **1st place doesn't take all,** so don't be discouraged! Both 2nd and 3rd places give you two more chances to win moons. Submit your con-arguments below. Good luck and have fun.

posted by /u/CointestMod in /r/CointestOfficial on December 1, 2022 08:33:52

https://www.reddit.com/r/CointestOfficial/comments/z9o08y/general_concepts_dex_proarguments_december_2022/

Welcome to the r/CryptoCurrency [Cointest](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy). For this thread, the category is General Concepts and the topic is DEX Pro-Arguments. It will end three months from when it was submitted. Here are the [rules and guidelines](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy#wiki_rules). **SUGGESTIONS:** * **Use the** [**Cointest Archive**](https://old.reddit.com/r/CointestOfficial/wiki/cointest_archive) for some of the following suggestions. * **Read through prior threads** about DEX to help refine your arguments. * **Preempt counter-points** in opposing threads (pro or con) to help make your arguments more complete. * **Read through these DEX search listings sorted by** [**relevance**](https://old.reddit.com/r/CryptoCurrency/search?q=DEX&restrict_sr=on&include_over_18=on&sort=relevance&t=all) **or** [**top**](https://old.reddit.com/r/CryptoCurrency/search/?q=DEX&include_over_18=on&restrict_sr=on&t=all&sort=top)**.** Find posts with a large number of upvotes and sort the comments by controversial first. You might find some supportive or critical comments worth borrowing. * **[Find](https://en.wikipedia.org/w/index.php?search=Decentralized+exchange&title=Special:Search&profile=advanced&fulltext=1&ns0=1) the DEX Wikipedia page and read though the references.** The references section can be a great starting point for researching your argument. * **1st place doesn't take all,** so don't be discouraged! Both 2nd and 3rd places give you two more chances to win moons. Submit your pro-arguments below. Good luck and have fun.

posted by /u/CointestMod in /r/CointestOfficial on December 1, 2022 08:33:38

https://www.reddit.com/r/CointestOfficial/comments/z9nzxm/general_concepts_dex_conarguments_december_2022/

Welcome to the r/CryptoCurrency [Cointest](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy). For this thread, the category is General Concepts and the topic is DEX Con-Arguments. It will end three months from when it was submitted. Here are the [rules and guidelines](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy#wiki_rules). **SUGGESTIONS:** * **Use the** [**Cointest Archive**](https://old.reddit.com/r/CointestOfficial/wiki/cointest_archive) for some of the following suggestions. * **Read through prior threads** about DEX to help refine your arguments. * **Preempt counter-points** in opposing threads (pro or con) to help make your arguments more complete. * **Read through these DEX search listings sorted by** [**relevance**](https://old.reddit.com/r/CryptoCurrency/search?q=DEX&restrict_sr=on&include_over_18=on&sort=relevance&t=all) **or** [**top**](https://old.reddit.com/r/CryptoCurrency/search/?q=DEX&include_over_18=on&restrict_sr=on&t=all&sort=top)**.** Find posts with a large number of upvotes and sort the comments by controversial first. You might find some supportive or critical comments worth borrowing. * **[Find](https://en.wikipedia.org/w/index.php?search=Decentralized+exchange&title=Special:Search&profile=advanced&fulltext=1&ns0=1) the DEX Wikipedia page and read though the references.** The references section can be a great starting point for researching your argument. * **1st place doesn't take all,** so don't be discouraged! Both 2nd and 3rd places give you two more chances to win moons. Submit your con-arguments below. Good luck and have fun.

posted by /u/CointestMod in /r/CointestOfficial on December 1, 2022 08:33:14

https://www.reddit.com/r/CointestOfficial/comments/z66oqj/general_concepts_topics_discussion_november_27/

Welcome to the General Concepts General Discussion thread. The purpose of this thread is to solicit ideas for new topics to include in the upcoming General Concepts round. Please read the rules before participating. \*\*\* \  \###Rules: ​ \* All \[sub rules\]([https://www.reddit.com/r/CryptoCurrency/about/rules/](https://www.reddit.com/r/CryptoCurrency/about/rules/)) apply in this thread. The prior exemption for karma and age requirements is no longer in effect. \* No topics about high or low market cap coins. Those topics are to be reserved for the Top Coins and Coin Inquiries rounds. \* Meta discussions will be removed and referred to the \[Meta Discussion\]([https://old.reddit.com/r/CointestOfficial/comments/roroqa/meta\_discussion\_megathread/?)](https://old.reddit.com/r/CointestOfficial/comments/roroqa/meta_discussion_megathread/?)) thread. \* Comments will be sorted by newest first. \*\*\* \  ​ \###Resources: ​ \* \[Cointest Registery\]([https://old.reddit.com/r/CointestOfficial/wiki/cointest\_registry#wiki\_cointest\_registry](https://old.reddit.com/r/CointestOfficial/wiki/cointest_registry#wiki_cointest_registry)) - Use this wiki page to see the full list of topics in the current General Concepts round. ​ \* \[General Concepts Flair Filter\]([https://old.reddit.com/r/CointestOfficial/search?q=title%3A%22General+Concepts%22&restrict\_sr=on&sort=new&t=all](https://old.reddit.com/r/CointestOfficial/search?q=title%3A%22General+Concepts%22&restrict_sr=on&sort=new&t=all)) - Use this search listing to find past topics registered in the General Concepts category. ​ \*\*\* \  ​ Thank you in advance for your participation.

posted by /u/CointestMod in /r/CointestOfficial on November 27, 2022 12:15:09

https://www.reddit.com/r/CointestOfficial/comments/yxwjij/cointest_updates_coin_inquiries_winners/

Greetings r/CryptoCurrency and r/CointestOfficial! We interrupt your bear market blues to announce that the August 2022 Coin Inquiries round has ended and its topic-threads are locked. For November 2022, a [new Coin Inquiries round](https://old.reddit.com/r/CointestOfficial/search?q=flair%3ACOIN%2BINQUIRIES+NOVEMBER+2022&restrict_sr=on&sort=new&t=all) has begun. Open topics you can participate in are listed at the end of the post. *As a reminder: the [**r\/CryptoCurrency Cointest**](https://old.reddit.com/r/CointestOfficial/comments/uwt5jh/start_here/) is an official, ongoing competition for crowdsourcing the best arguments in support of or against selected crypto topics by awarding [Moon prizes](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy#wiki_moon_prizes) to the winning contestants. The end goal is to provide r\/CC readers with a balanced source of quality information for their cryptocurrency research.* --- ###Selected Winners This Coin Inquiries round started on August 1^st and ended on October 31^st 2022. A maximum of **11,000 moons** will be distributed to the selected winners after they complete a one month vetting stage. | Topic | 1st | 2nd | 3rd | | :-: | :-: | :-: | :-: | :-: | :-: | :-: | | Aave Cons|[CreepToeCurrentSea](https://old.reddit.com/r/CointestOfficial/comments/wdgrdd/coin_inquiries_aave_conarguments_august_2022/it1zmkn/)|[strudelpower](https://old.reddit.com/r/CointestOfficial/comments/wdgrdd/coin_inquiries_aave_conarguments_august_2022/iu6kxeh/)|[Far-Scholar9028](https://old.reddit.com/r/CointestOfficial/comments/wdgrdd/coin_inquiries_aave_conarguments_august_2022/iu8v62t/)| | Aave Pros|[ CreepToeCurrentSea](https://old.reddit.com/r/CointestOfficial/comments/wdgrrd/coin_inquiries_aave_proarguments_august_2022/isxlndz/)|[strudelpower ](https://old.reddit.com/r/CointestOfficial/comments/wdgrrd/coin_inquiries_aave_proarguments_august_2022/itkfl3g/)|[ cryotosensei](https://old.reddit.com/r/CointestOfficial/comments/wdgrrd/coin_inquiries_aave_proarguments_august_2022/inynpaq/)| | Dogecoin Cons|[CreepToeCurrentSea](https://old.reddit.com/r/CointestOfficial/comments/wdgs5x/coin_inquiries_dogecoin_conarguments_august_2022/itug569/)|[Ornery_Maintenance_8](https://old.reddit.com/r/CointestOfficial/comments/wdgs5x/coin_inquiries_dogecoin_conarguments_august_2022/ikrp099/)| [Far-Scholar9028](https://old.reddit.com/r/CointestOfficial/comments/wdgs5x/coin_inquiries_dogecoin_conarguments_august_2022/iucuthy/) | Dogecoin Pros|[CreepToeCurrentSea](https://old.reddit.com/r/CointestOfficial/comments/wdgsfy/coin_inquiries_dogecoin_proarguments_august_2022/itpt3ol/)|[Far-Scholar9028](https://old.reddit.com/r/CointestOfficial/comments/wdgsfy/coin_inquiries_dogecoin_proarguments_august_2022/iuctie1/)| [Laughingboy14](https://old.reddit.com/r/CointestOfficial/comments/wdgsfy/coin_inquiries_dogecoin_proarguments_august_2022/ik3s0er/) | Moons Cons|[Blendzi0r](https://old.reddit.com/r/CointestOfficial/comments/wdgsuz/coin_inquiries_moons_conarguments_august_2022/imk4l8u/)|[Nostalg33k](https://old.reddit.com/r/CointestOfficial/comments/wdgsuz/coin_inquiries_moons_conarguments_august_2022/itz6bis/)|[Laughingboy14](https://old.reddit.com/r/CointestOfficial/comments/wdgsuz/coin_inquiries_moons_conarguments_august_2022/ik3qu2k/)| | Moons Pros|[Blendzi0r](https://old.reddit.com/r/CointestOfficial/comments/wdgt3n/coin_inquiries_moons_proarguments_august_2022/imjylnd/)|[Nostalg33k](https://old.reddit.com/r/CointestOfficial/comments/wdgt3n/coin_inquiries_moons_proarguments_august_2022/itz6i8v/)|[cryotosensei](https://old.reddit.com/r/CointestOfficial/comments/wdgt3n/coin_inquiries_moons_proarguments_august_2022/in6a701/)| | Terra (Luna 2.0) Cons|[Shippior](https://old.reddit.com/r/CointestOfficial/comments/wdgtyd/coin_inquiries_terra_luna_20_conarguments_august/iueyaih/)|[excalilbug](https://old.reddit.com/r/CointestOfficial/comments/wdgtyd/coin_inquiries_terra_luna_20_conarguments_august/iujj6ju/)| [Far-Scholar9028](https://old.reddit.com/r/CointestOfficial/comments/wdgtyd/coin_inquiries_terra_luna_20_conarguments_august/iuh9y79/) | Terra (Luna 2.0) Pros|[excalilbug](https://old.reddit.com/r/CointestOfficial/comments/wdgu4t/coin_inquiries_terra_luna_20_proarguments_august/iujoklu/)|[FrogsAreBest123](https://old.reddit.com/r/CointestOfficial/comments/wdgu4t/coin_inquiries_terra_luna_20_proarguments_august/iuj983e/)| [Far-Scholar9028](https://old.reddit.com/r/CointestOfficial/comments/wdgu4t/coin_inquiries_terra_luna_20_proarguments_august/iuh93wa/) | Nervos Network (CKB) Cons|[Shippior](https://old.reddit.com/r/CointestOfficial/comments/wdgtov/coin_inquiries_nervos_network_ckb_conarguments/iuezq1p/)|[Far-Scholar9028](https://old.reddit.com/r/CointestOfficial/comments/wdgtov/coin_inquiries_nervos_network_ckb_conarguments/iudl27i/)| [Ornery_Maintenance_8](https://old.reddit.com/r/CointestOfficial/comments/wdgtov/coin_inquiries_nervos_network_ckb_conarguments/ikrppn4/) | | Nervos Network (CKB) Pros|[CreepToeCurrentSea](https://old.reddit.com/r/CointestOfficial/comments/wdgtrr/coin_inquiries_nervos_network_ckb_proarguments/itzwpt1/)|[excalilbug](https://old.reddit.com/r/CointestOfficial/comments/wdgtrr/coin_inquiries_nervos_network_ckb_proarguments/iuk0ha8/)|[Far-Scholar9028](https://old.reddit.com/r/CointestOfficial/comments/wdgtrr/coin_inquiries_nervos_network_ckb_proarguments/iud3x7k/)| Best Analysis award goes to /u/Blendzi0r for Moons Pro-Arguments. You can find the entry [here](https://old.reddit.com/r/CointestOfficial/comments/wdgt3n/coin_inquiries_moons_proarguments_august_2022/imjylnd/). Congrats! --- ###Bounties - Win moons for fact-checking and reporting violations As stated before, the arguments selected above will go through a [vetting stage](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy#wiki_bounties) lasting until the next mid-month update. This escrow period is for fact-checking and making sure the contestants did not violate any rules such as plagiarizing content or using sock puppets. Anyone who reviews the above arguments and finds one which violates a rule can submit a report in the [Bounties Megathread](https://www.reddit.com/r/CointestOfficial/comments/rot2hb/bounty_reports_megathread/). If the report is verified, the user who submitted the report will win a portion or the entire moon prize allocated for the argument in question. **The vetting stage for [the prior General Concepts round](https://old.reddit.com/r/CointestOfficial/comments/xfw9ty/title_cointest_updates_general_concepts_winners/) has ended.** No bounty reports were submitted so winner results will stay the same and awards will be paid out by the end of the month. ###Round Ending Soon The General Concepts round will be ending in two weeks. Below is a list of the topics: * [Decentralization Pro](https://old.reddit.com/r/CointestOfficial/comments/x5muho/general_concepts_decentralization_proarguments/) * [Decentralization Con](https://old.reddit.com/r/CointestOfficial/comments/x5muim/general_concepts_decentralization_conarguments/) * [GameFi Pro](https://old.reddit.com/r/CointestOfficial/comments/x5mumj/general_concepts_gamefi_proarguments_september/) * [GameFi Con](https://old.reddit.com/r/CointestOfficial/comments/x5mun5/general_concepts_gamefi_conarguments_september/) * [Liquid Staking Pro](https://old.reddit.com/r/CointestOfficial/comments/x5mulj/general_concepts_liquid_staking_proarguments/) * [Liquid Staking Con](https://old.reddit.com/r/CointestOfficial/comments/x5mum6/general_concepts_liquid_staking_conarguments/) * [Privacy Pro](https://old.reddit.com/r/CointestOfficial/comments/x5muj9/general_concepts_privacy_proarguments_september/) * [Privacy Con](https://old.reddit.com/r/CointestOfficial/comments/x5muk0/general_concepts_privacy_conarguments_september/) * [Scarcity Pro](https://old.reddit.com/r/CointestOfficial/comments/x5mukj/general_concepts_scarcity_tokenomics_proarguments/) * [Scarcity Con](https://old.reddit.com/r/CointestOfficial/comments/x5muky/general_concepts_scarcity_tokenomics_conarguments/) ###Latest Round The new Coin Inquiries round has been live since the start of the month. Below is a list of the topics: * [Algorand Pro](https://old.reddit.com/r/CointestOfficial/comments/yj8gdq/coin_inquiries_algorand_proarguments_november_2022/) * [Algorand Con](https://old.reddit.com/r/CointestOfficial/comments/yj8gge/coin_inquiries_algorand_conarguments_november_2022/) * [Chainlink Pro](https://old.reddit.com/r/CointestOfficial/comments/yj8gkn/coin_inquiries_chainlink_proarguments_november/) * [Chainlink Con](https://old.reddit.com/r/CointestOfficial/comments/yj8gmk/coin_inquiries_chainlink_conarguments_november/) * [Chiliz Pro](https://old.reddit.com/r/CointestOfficial/comments/yj8guv/coin_inquiries_chiliz_proarguments_november_2022/) * [Chiliz Con](https://old.reddit.com/r/CointestOfficial/comments/yj8h0j/coin_inquiries_chiliz_conarguments_november_2022/) * [Maker Pro](https://old.reddit.com/r/CointestOfficial/comments/yj8h2v/coin_inquiries_maker_proarguments_november_2022/) * [Maker Con](https://old.reddit.com/r/CointestOfficial/comments/yj8h3n/coin_inquiries_maker_conarguments_november_2022/) * [Quant Pro](https://old.reddit.com/r/CointestOfficial/comments/yj8h75/coin_inquiries_quant_proarguments_november_2022/) * [Quant Con](https://old.reddit.com/r/CointestOfficial/comments/yj8h9d/coin_inquiries_quant_conarguments_november_2022/) --- ###Reminders - [The registry](https://old.reddit.com/r/CointestOfficial/wiki/cointest_registry) collects all topics open for participation in one place. **See the column for General Concepts to find topics ending soon.** - [The archive](https://old.reddit.com/r/CointestOfficial/wiki/cointest_archive) lists out all current and closed topics. Users can find prior threads on a topic to help refine their arguments (or to help with DYOR). - [The policy section](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy) outlines Cointest rules and guidelines among other aspects of the project. Thank you for your attention.

posted by /u/CointestMod in /r/CointestOfficial on November 17, 2022 12:47:02

https://www.reddit.com/r/CointestOfficial/comments/yq0vr4/top_coins_polkadot_conarguments_november_2022/

Welcome to the r/CryptoCurrency [Cointest](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy). For this thread, the category is General Concepts and the topic is Polkadot Con-Arguments. It will end three months from when it was submitted. Here are the [rules and guidelines](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy#wiki_rules). **SUGGESTIONS:** * **Use the** [**Cointest Archive**](https://old.reddit.com/r/CointestOfficial/wiki/cointest_archive) for some of the following suggestions. * **Preempt counter-points** in opposing threads (pro or con) to help make your arguments more complete. * **Read through these Polkadot search listings sorted by** [**relevance**](https://old.reddit.com/r/CryptoCurrency/search?q=Polkadot&restrict_sr=on&include_over_18=on&sort=relevance&t=all) **or** [**top**](https://old.reddit.com/r/CryptoCurrency/search/?q=Polkadot&include_over_18=on&restrict_sr=on&t=all&sort=top)**.** Find posts with numerous upvotes and sort the comments by controversial first. You might find some supportive or critical material worth borrowing. * **[Find](https://en.wikipedia.org/w/index.php?search=Polkadot&title=Special%3ASearch&profile=default&fulltext=1&ns0=1) the Polkadot Wikipedia page and read through the references.** The references section can be a great starting point for researching your argument. * **1st place doesn't take all,** so don't be discouraged! Both 2nd and 3rd places give you two more chances to win moons. Submit your pro-arguments below. Good luck and have fun.

posted by /u/CointestMod in /r/CointestOfficial on November 8, 2022 17:38:11

https://www.reddit.com/r/CointestOfficial/comments/yq0vn9/top_coins_polkadot_proarguments_november_2022/

Welcome to the r/CryptoCurrency [Cointest](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy). For this thread, the category is General Concepts and the topic is Polkadot Pro-Arguments. It will end three months from when it was submitted. Here are the [rules and guidelines](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy#wiki_rules). **SUGGESTIONS:** * **Use the** [**Cointest Archive**](https://old.reddit.com/r/CointestOfficial/wiki/cointest_archive) for some of the following suggestions. * **Preempt counter-points** in opposing threads (pro or con) to help make your arguments more complete. * **Read through these Polkadot search listings sorted by** [**relevance**](https://old.reddit.com/r/CryptoCurrency/search?q=Polkadot&restrict_sr=on&include_over_18=on&sort=relevance&t=all) **or** [**top**](https://old.reddit.com/r/CryptoCurrency/search/?q=Polkadot&include_over_18=on&restrict_sr=on&t=all&sort=top)**.** Find posts with numerous upvotes and sort the comments by controversial first. You might find some supportive or critical material worth borrowing. * **[Find](https://en.wikipedia.org/w/index.php?search=Polkadot&title=Special%3ASearch&profile=default&fulltext=1&ns0=1) the Polkadot Wikipedia page and read through the references.** The references section can be a great starting point for researching your argument. * **1st place doesn't take all,** so don't be discouraged! Both 2nd and 3rd places give you two more chances to win moons. Submit your pro-arguments below. Good luck and have fun.

posted by /u/CointestMod in /r/CointestOfficial on November 8, 2022 17:38:06

https://www.reddit.com/r/CointestOfficial/comments/yq0vkh/top_coins_ethereum_conarguments_november_2022/

Welcome to the r/CryptoCurrency [Cointest](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy). For this thread, the category is General Concepts and the topic is Ethereum Con-Arguments. It will end three months from when it was submitted. Here are the [rules and guidelines](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy#wiki_rules). **SUGGESTIONS:** * **Use the** [**Cointest Archive**](https://old.reddit.com/r/CointestOfficial/wiki/cointest_archive) for some of the following suggestions. * **Preempt counter-points** in opposing threads (pro or con) to help make your arguments more complete. * **Read through these Ethereum search listings sorted by** [**relevance**](https://old.reddit.com/r/CryptoCurrency/search?q=Ethereum&restrict_sr=on&include_over_18=on&sort=relevance&t=all) **or** [**top**](https://old.reddit.com/r/CryptoCurrency/search/?q=Ethereum&include_over_18=on&restrict_sr=on&t=all&sort=top)**.** Find posts with numerous upvotes and sort the comments by controversial first. You might find some supportive or critical material worth borrowing. * **[Find](https://en.wikipedia.org/w/index.php?search=Ethereum&title=Special%3ASearch&profile=default&fulltext=1&ns0=1) the Ethereum Wikipedia page and read through the references.** The references section can be a great starting point for researching your argument. * **1st place doesn't take all,** so don't be discouraged! Both 2nd and 3rd places give you two more chances to win moons. Submit your pro-arguments below. Good luck and have fun.

posted by /u/CointestMod in /r/CointestOfficial on November 8, 2022 17:37:59

https://www.reddit.com/r/CointestOfficial/comments/yq0vhj/top_coins_ethereum_proarguments_november_2022/

Welcome to the r/CryptoCurrency [Cointest](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy). For this thread, the category is General Concepts and the topic is Ethereum Pro-Arguments. It will end three months from when it was submitted. Here are the [rules and guidelines](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy#wiki_rules). **SUGGESTIONS:** * **Use the** [**Cointest Archive**](https://old.reddit.com/r/CointestOfficial/wiki/cointest_archive) for some of the following suggestions. * **Preempt counter-points** in opposing threads (pro or con) to help make your arguments more complete. * **Read through these Ethereum search listings sorted by** [**relevance**](https://old.reddit.com/r/CryptoCurrency/search?q=Ethereum&restrict_sr=on&include_over_18=on&sort=relevance&t=all) **or** [**top**](https://old.reddit.com/r/CryptoCurrency/search/?q=Ethereum&include_over_18=on&restrict_sr=on&t=all&sort=top)**.** Find posts with numerous upvotes and sort the comments by controversial first. You might find some supportive or critical material worth borrowing. * **[Find](https://en.wikipedia.org/w/index.php?search=Ethereum&title=Special%3ASearch&profile=default&fulltext=1&ns0=1) the Ethereum Wikipedia page and read through the references.** The references section can be a great starting point for researching your argument. * **1st place doesn't take all,** so don't be discouraged! Both 2nd and 3rd places give you two more chances to win moons. Submit your pro-arguments below. Good luck and have fun.

posted by /u/CointestMod in /r/CointestOfficial on November 8, 2022 17:37:53

https://www.reddit.com/r/CointestOfficial/comments/yq0veq/top_coins_cosmos_conarguments_november_2022/

Welcome to the r/CryptoCurrency [Cointest](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy). For this thread, the category is General Concepts and the topic is Cosmos Con-Arguments. It will end three months from when it was submitted. Here are the [rules and guidelines](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy#wiki_rules). **SUGGESTIONS:** * **Use the** [**Cointest Archive**](https://old.reddit.com/r/CointestOfficial/wiki/cointest_archive) for some of the following suggestions. * **Preempt counter-points** in opposing threads (pro or con) to help make your arguments more complete. * **Read through these Cosmos search listings sorted by** [**relevance**](https://old.reddit.com/r/CryptoCurrency/search?q=Cosmos&restrict_sr=on&include_over_18=on&sort=relevance&t=all) **or** [**top**](https://old.reddit.com/r/CryptoCurrency/search/?q=Cosmos&include_over_18=on&restrict_sr=on&t=all&sort=top)**.** Find posts with numerous upvotes and sort the comments by controversial first. You might find some supportive or critical material worth borrowing. * **[Find](https://en.wikipedia.org/w/index.php?search=Cosmos&title=Special%3ASearch&profile=default&fulltext=1&ns0=1) the Cosmos Wikipedia page and read through the references.** The references section can be a great starting point for researching your argument. * **1st place doesn't take all,** so don't be discouraged! Both 2nd and 3rd places give you two more chances to win moons. Submit your pro-arguments below. Good luck and have fun.

posted by /u/CointestMod in /r/CointestOfficial on November 8, 2022 17:37:47

https://www.reddit.com/r/CointestOfficial/comments/yq0vbq/top_coins_cosmos_proarguments_november_2022/

Welcome to the r/CryptoCurrency [Cointest](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy). For this thread, the category is General Concepts and the topic is Cosmos Pro-Arguments. It will end three months from when it was submitted. Here are the [rules and guidelines](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy#wiki_rules). **SUGGESTIONS:** * **Use the** [**Cointest Archive**](https://old.reddit.com/r/CointestOfficial/wiki/cointest_archive) for some of the following suggestions. * **Preempt counter-points** in opposing threads (pro or con) to help make your arguments more complete. * **Read through these Cosmos search listings sorted by** [**relevance**](https://old.reddit.com/r/CryptoCurrency/search?q=Cosmos&restrict_sr=on&include_over_18=on&sort=relevance&t=all) **or** [**top**](https://old.reddit.com/r/CryptoCurrency/search/?q=Cosmos&include_over_18=on&restrict_sr=on&t=all&sort=top)**.** Find posts with numerous upvotes and sort the comments by controversial first. You might find some supportive or critical material worth borrowing. * **[Find](https://en.wikipedia.org/w/index.php?search=Cosmos&title=Special%3ASearch&profile=default&fulltext=1&ns0=1) the Cosmos Wikipedia page and read through the references.** The references section can be a great starting point for researching your argument. * **1st place doesn't take all,** so don't be discouraged! Both 2nd and 3rd places give you two more chances to win moons. Submit your pro-arguments below. Good luck and have fun.

posted by /u/CointestMod in /r/CointestOfficial on November 8, 2022 17:37:41

https://www.reddit.com/r/CointestOfficial/comments/yq0v8l/top_coins_cardano_conarguments_november_2022/

Welcome to the r/CryptoCurrency [Cointest](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy). For this thread, the category is General Concepts and the topic is Cardano Con-Arguments. It will end three months from when it was submitted. Here are the [rules and guidelines](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy#wiki_rules). **SUGGESTIONS:** * **Use the** [**Cointest Archive**](https://old.reddit.com/r/CointestOfficial/wiki/cointest_archive) for some of the following suggestions. * **Preempt counter-points** in opposing threads (pro or con) to help make your arguments more complete. * **Read through these Cardano search listings sorted by** [**relevance**](https://old.reddit.com/r/CryptoCurrency/search?q=Cardano&restrict_sr=on&include_over_18=on&sort=relevance&t=all) **or** [**top**](https://old.reddit.com/r/CryptoCurrency/search/?q=Cardano&include_over_18=on&restrict_sr=on&t=all&sort=top)**.** Find posts with numerous upvotes and sort the comments by controversial first. You might find some supportive or critical material worth borrowing. * **[Find](https://en.wikipedia.org/w/index.php?search=Cardano&title=Special%3ASearch&profile=default&fulltext=1&ns0=1) the Cardano Wikipedia page and read through the references.** The references section can be a great starting point for researching your argument. * **1st place doesn't take all,** so don't be discouraged! Both 2nd and 3rd places give you two more chances to win moons. Submit your pro-arguments below. Good luck and have fun.

posted by /u/CointestMod in /r/CointestOfficial on November 8, 2022 17:37:35

https://www.reddit.com/r/CointestOfficial/comments/yq0v2l/top_coins_bitcoin_conarguments_november_2022/

Welcome to the r/CryptoCurrency [Cointest](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy). For this thread, the category is General Concepts and the topic is Bitcoin Con-Arguments. It will end three months from when it was submitted. Here are the [rules and guidelines](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy#wiki_rules). **SUGGESTIONS:** * **Use the** [**Cointest Archive**](https://old.reddit.com/r/CointestOfficial/wiki/cointest_archive) for some of the following suggestions. * **Preempt counter-points** in opposing threads (pro or con) to help make your arguments more complete. * **Read through these Bitcoin search listings sorted by** [**relevance**](https://old.reddit.com/r/CryptoCurrency/search?q=Bitcoin&restrict_sr=on&include_over_18=on&sort=relevance&t=all) **or** [**top**](https://old.reddit.com/r/CryptoCurrency/search/?q=Bitcoin&include_over_18=on&restrict_sr=on&t=all&sort=top)**.** Find posts with numerous upvotes and sort the comments by controversial first. You might find some supportive or critical material worth borrowing. * **[Find](https://en.wikipedia.org/w/index.php?search=Bitcoin&title=Special%3ASearch&profile=default&fulltext=1&ns0=1) the Bitcoin Wikipedia page and read through the references.** The references section can be a great starting point for researching your argument. * **1st place doesn't take all,** so don't be discouraged! Both 2nd and 3rd places give you two more chances to win moons. Submit your pro-arguments below. Good luck and have fun.

posted by /u/CointestMod in /r/CointestOfficial on November 8, 2022 17:37:24

https://www.reddit.com/r/CointestOfficial/comments/yq0uzg/top_coins_bitcoin_proarguments_november_2022/

Welcome to the r/CryptoCurrency [Cointest](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy). For this thread, the category is General Concepts and the topic is Bitcoin Pro-Arguments. It will end three months from when it was submitted. Here are the [rules and guidelines](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy#wiki_rules). **SUGGESTIONS:** * **Use the** [**Cointest Archive**](https://old.reddit.com/r/CointestOfficial/wiki/cointest_archive) for some of the following suggestions. * **Preempt counter-points** in opposing threads (pro or con) to help make your arguments more complete. * **Read through these Bitcoin search listings sorted by** [**relevance**](https://old.reddit.com/r/CryptoCurrency/search?q=Bitcoin&restrict_sr=on&include_over_18=on&sort=relevance&t=all) **or** [**top**](https://old.reddit.com/r/CryptoCurrency/search/?q=Bitcoin&include_over_18=on&restrict_sr=on&t=all&sort=top)**.** Find posts with numerous upvotes and sort the comments by controversial first. You might find some supportive or critical material worth borrowing. * **[Find](https://en.wikipedia.org/w/index.php?search=Bitcoin&title=Special%3ASearch&profile=default&fulltext=1&ns0=1) the Bitcoin Wikipedia page and read through the references.** The references section can be a great starting point for researching your argument. * **1st place doesn't take all,** so don't be discouraged! Both 2nd and 3rd places give you two more chances to win moons. Submit your pro-arguments below. Good luck and have fun.

posted by /u/CointestMod in /r/CointestOfficial on November 8, 2022 17:37:18

https://www.reddit.com/r/CointestOfficial/comments/yq0q7p/top_coins_polkadot_conarguments_november_2022/

Welcome to the r/CryptoCurrency [Cointest](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy). For this thread, the category is General Concepts and the topic is Polkadot Con-Arguments. It will end three months from when it was submitted. Here are the [rules and guidelines](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy#wiki_rules). **SUGGESTIONS:** * **Use the** [**Cointest Archive**](https://old.reddit.com/r/CointestOfficial/wiki/cointest_archive) for some of the following suggestions. * **Preempt counter-points** in opposing threads (pro or con) to help make your arguments more complete. * **Read through these Polkadot search listings sorted by** [**relevance**](https://old.reddit.com/r/CryptoCurrency/search?q=Polkadot&restrict_sr=on&include_over_18=on&sort=relevance&t=all) **or** [**top**](https://old.reddit.com/r/CryptoCurrency/search/?q=Polkadot&include_over_18=on&restrict_sr=on&t=all&sort=top)**.** Find posts with numerous upvotes and sort the comments by controversial first. You might find some supportive or critical material worth borrowing. * **[Find](https://en.wikipedia.org/w/index.php?search=Polkadot&title=Special%3ASearch&profile=default&fulltext=1&ns0=1) the Polkadot Wikipedia page and read through the references.** The references section can be a great starting point for researching your argument. * **1st place doesn't take all,** so don't be discouraged! Both 2nd and 3rd places give you two more chances to win moons. Submit your pro-arguments below. Good luck and have fun.

posted by /u/CointestMod in /r/CointestOfficial on November 8, 2022 17:31:55

https://www.reddit.com/r/CointestOfficial/comments/yq0q4g/top_coins_polkadot_proarguments_november_2022/

Welcome to the r/CryptoCurrency [Cointest](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy). For this thread, the category is General Concepts and the topic is Polkadot Pro-Arguments. It will end three months from when it was submitted. Here are the [rules and guidelines](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy#wiki_rules). **SUGGESTIONS:** * **Use the** [**Cointest Archive**](https://old.reddit.com/r/CointestOfficial/wiki/cointest_archive) for some of the following suggestions. * **Preempt counter-points** in opposing threads (pro or con) to help make your arguments more complete. * **Read through these Polkadot search listings sorted by** [**relevance**](https://old.reddit.com/r/CryptoCurrency/search?q=Polkadot&restrict_sr=on&include_over_18=on&sort=relevance&t=all) **or** [**top**](https://old.reddit.com/r/CryptoCurrency/search/?q=Polkadot&include_over_18=on&restrict_sr=on&t=all&sort=top)**.** Find posts with numerous upvotes and sort the comments by controversial first. You might find some supportive or critical material worth borrowing. * **[Find](https://en.wikipedia.org/w/index.php?search=Polkadot&title=Special%3ASearch&profile=default&fulltext=1&ns0=1) the Polkadot Wikipedia page and read through the references.** The references section can be a great starting point for researching your argument. * **1st place doesn't take all,** so don't be discouraged! Both 2nd and 3rd places give you two more chances to win moons. Submit your pro-arguments below. Good luck and have fun.

posted by /u/CointestMod in /r/CointestOfficial on November 8, 2022 17:31:50

https://www.reddit.com/r/CointestOfficial/comments/yq0q0s/top_coins_ethereum_conarguments_november_2022/

Welcome to the r/CryptoCurrency [Cointest](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy). For this thread, the category is General Concepts and the topic is Ethereum Con-Arguments. It will end three months from when it was submitted. Here are the [rules and guidelines](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy#wiki_rules). **SUGGESTIONS:** * **Use the** [**Cointest Archive**](https://old.reddit.com/r/CointestOfficial/wiki/cointest_archive) for some of the following suggestions. * **Preempt counter-points** in opposing threads (pro or con) to help make your arguments more complete. * **Read through these Ethereum search listings sorted by** [**relevance**](https://old.reddit.com/r/CryptoCurrency/search?q=Ethereum&restrict_sr=on&include_over_18=on&sort=relevance&t=all) **or** [**top**](https://old.reddit.com/r/CryptoCurrency/search/?q=Ethereum&include_over_18=on&restrict_sr=on&t=all&sort=top)**.** Find posts with numerous upvotes and sort the comments by controversial first. You might find some supportive or critical material worth borrowing. * **[Find](https://en.wikipedia.org/w/index.php?search=Ethereum&title=Special%3ASearch&profile=default&fulltext=1&ns0=1) the Ethereum Wikipedia page and read through the references.** The references section can be a great starting point for researching your argument. * **1st place doesn't take all,** so don't be discouraged! Both 2nd and 3rd places give you two more chances to win moons. Submit your pro-arguments below. Good luck and have fun.

posted by /u/CointestMod in /r/CointestOfficial on November 8, 2022 17:31:44

https://www.reddit.com/r/CointestOfficial/comments/yq0pwf/top_coins_ethereum_proarguments_november_2022/

Welcome to the r/CryptoCurrency [Cointest](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy). For this thread, the category is General Concepts and the topic is Ethereum Pro-Arguments. It will end three months from when it was submitted. Here are the [rules and guidelines](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy#wiki_rules). **SUGGESTIONS:** * **Use the** [**Cointest Archive**](https://old.reddit.com/r/CointestOfficial/wiki/cointest_archive) for some of the following suggestions. * **Preempt counter-points** in opposing threads (pro or con) to help make your arguments more complete. * **Read through these Ethereum search listings sorted by** [**relevance**](https://old.reddit.com/r/CryptoCurrency/search?q=Ethereum&restrict_sr=on&include_over_18=on&sort=relevance&t=all) **or** [**top**](https://old.reddit.com/r/CryptoCurrency/search/?q=Ethereum&include_over_18=on&restrict_sr=on&t=all&sort=top)**.** Find posts with numerous upvotes and sort the comments by controversial first. You might find some supportive or critical material worth borrowing. * **[Find](https://en.wikipedia.org/w/index.php?search=Ethereum&title=Special%3ASearch&profile=default&fulltext=1&ns0=1) the Ethereum Wikipedia page and read through the references.** The references section can be a great starting point for researching your argument. * **1st place doesn't take all,** so don't be discouraged! Both 2nd and 3rd places give you two more chances to win moons. Submit your pro-arguments below. Good luck and have fun.

posted by /u/CointestMod in /r/CointestOfficial on November 8, 2022 17:31:38

https://www.reddit.com/r/CointestOfficial/comments/yq0psw/top_coins_cosmos_conarguments_november_2022/

Welcome to the r/CryptoCurrency [Cointest](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy). For this thread, the category is General Concepts and the topic is Cosmos Con-Arguments. It will end three months from when it was submitted. Here are the [rules and guidelines](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy#wiki_rules). **SUGGESTIONS:** * **Use the** [**Cointest Archive**](https://old.reddit.com/r/CointestOfficial/wiki/cointest_archive) for some of the following suggestions. * **Preempt counter-points** in opposing threads (pro or con) to help make your arguments more complete. * **Read through these Cosmos search listings sorted by** [**relevance**](https://old.reddit.com/r/CryptoCurrency/search?q=Cosmos&restrict_sr=on&include_over_18=on&sort=relevance&t=all) **or** [**top**](https://old.reddit.com/r/CryptoCurrency/search/?q=Cosmos&include_over_18=on&restrict_sr=on&t=all&sort=top)**.** Find posts with numerous upvotes and sort the comments by controversial first. You might find some supportive or critical material worth borrowing. * **[Find](https://en.wikipedia.org/w/index.php?search=Cosmos&title=Special%3ASearch&profile=default&fulltext=1&ns0=1) the Cosmos Wikipedia page and read through the references.** The references section can be a great starting point for researching your argument. * **1st place doesn't take all,** so don't be discouraged! Both 2nd and 3rd places give you two more chances to win moons. Submit your pro-arguments below. Good luck and have fun.

posted by /u/CointestMod in /r/CointestOfficial on November 8, 2022 17:31:32

https://www.reddit.com/r/CointestOfficial/comments/yq0pq1/top_coins_cosmos_proarguments_november_2022/

Welcome to the r/CryptoCurrency [Cointest](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy). For this thread, the category is General Concepts and the topic is Cosmos Pro-Arguments. It will end three months from when it was submitted. Here are the [rules and guidelines](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy#wiki_rules). **SUGGESTIONS:** * **Use the** [**Cointest Archive**](https://old.reddit.com/r/CointestOfficial/wiki/cointest_archive) for some of the following suggestions. * **Preempt counter-points** in opposing threads (pro or con) to help make your arguments more complete. * **Read through these Cosmos search listings sorted by** [**relevance**](https://old.reddit.com/r/CryptoCurrency/search?q=Cosmos&restrict_sr=on&include_over_18=on&sort=relevance&t=all) **or** [**top**](https://old.reddit.com/r/CryptoCurrency/search/?q=Cosmos&include_over_18=on&restrict_sr=on&t=all&sort=top)**.** Find posts with numerous upvotes and sort the comments by controversial first. You might find some supportive or critical material worth borrowing. * **[Find](https://en.wikipedia.org/w/index.php?search=Cosmos&title=Special%3ASearch&profile=default&fulltext=1&ns0=1) the Cosmos Wikipedia page and read through the references.** The references section can be a great starting point for researching your argument. * **1st place doesn't take all,** so don't be discouraged! Both 2nd and 3rd places give you two more chances to win moons. Submit your pro-arguments below. Good luck and have fun.

posted by /u/CointestMod in /r/CointestOfficial on November 8, 2022 17:31:26

https://www.reddit.com/r/CointestOfficial/comments/yq0pmt/top_coins_cardano_conarguments_november_2022/

Welcome to the r/CryptoCurrency [Cointest](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy). For this thread, the category is General Concepts and the topic is Cardano Con-Arguments. It will end three months from when it was submitted. Here are the [rules and guidelines](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy#wiki_rules). **SUGGESTIONS:** * **Use the** [**Cointest Archive**](https://old.reddit.com/r/CointestOfficial/wiki/cointest_archive) for some of the following suggestions. * **Preempt counter-points** in opposing threads (pro or con) to help make your arguments more complete. * **Read through these Cardano search listings sorted by** [**relevance**](https://old.reddit.com/r/CryptoCurrency/search?q=Cardano&restrict_sr=on&include_over_18=on&sort=relevance&t=all) **or** [**top**](https://old.reddit.com/r/CryptoCurrency/search/?q=Cardano&include_over_18=on&restrict_sr=on&t=all&sort=top)**.** Find posts with numerous upvotes and sort the comments by controversial first. You might find some supportive or critical material worth borrowing. * **[Find](https://en.wikipedia.org/w/index.php?search=Cardano&title=Special%3ASearch&profile=default&fulltext=1&ns0=1) the Cardano Wikipedia page and read through the references.** The references section can be a great starting point for researching your argument. * **1st place doesn't take all,** so don't be discouraged! Both 2nd and 3rd places give you two more chances to win moons. Submit your pro-arguments below. Good luck and have fun.

posted by /u/CointestMod in /r/CointestOfficial on November 8, 2022 17:31:20

https://www.reddit.com/r/CointestOfficial/comments/yq0phu/top_coins_cardano_conarguments_november_2022/

Welcome to the r/CryptoCurrency [Cointest](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy). For this thread, the category is General Concepts and the topic is Cardano Con-Arguments. It will end three months from when it was submitted. Here are the [rules and guidelines](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy#wiki_rules). **SUGGESTIONS:** * **Use the** [**Cointest Archive**](https://old.reddit.com/r/CointestOfficial/wiki/cointest_archive) for some of the following suggestions. * **Preempt counter-points** in opposing threads (pro or con) to help make your arguments more complete. * **Read through these Cardano search listings sorted by** [**relevance**](https://old.reddit.com/r/CryptoCurrency/search?q=Cardano&restrict_sr=on&include_over_18=on&sort=relevance&t=all) **or** [**top**](https://old.reddit.com/r/CryptoCurrency/search/?q=Cardano&include_over_18=on&restrict_sr=on&t=all&sort=top)**.** Find posts with numerous upvotes and sort the comments by controversial first. You might find some supportive or critical material worth borrowing. * **[Find](https://en.wikipedia.org/w/index.php?search=Cardano&title=Special%3ASearch&profile=default&fulltext=1&ns0=1) the Cardano Wikipedia page and read through the references.** The references section can be a great starting point for researching your argument. * **1st place doesn't take all,** so don't be discouraged! Both 2nd and 3rd places give you two more chances to win moons. Submit your pro-arguments below. Good luck and have fun.

posted by /u/CointestMod in /r/CointestOfficial on November 8, 2022 17:31:13

https://www.reddit.com/r/CointestOfficial/comments/yq0peq/top_coins_cardano_proarguments_november_2022/

Welcome to the r/CryptoCurrency [Cointest](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy). For this thread, the category is General Concepts and the topic is Cardano Pro-Arguments. It will end three months from when it was submitted. Here are the [rules and guidelines](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy#wiki_rules). **SUGGESTIONS:** * **Use the** [**Cointest Archive**](https://old.reddit.com/r/CointestOfficial/wiki/cointest_archive) for some of the following suggestions. * **Preempt counter-points** in opposing threads (pro or con) to help make your arguments more complete. * **Read through these Cardano search listings sorted by** [**relevance**](https://old.reddit.com/r/CryptoCurrency/search?q=Cardano&restrict_sr=on&include_over_18=on&sort=relevance&t=all) **or** [**top**](https://old.reddit.com/r/CryptoCurrency/search/?q=Cardano&include_over_18=on&restrict_sr=on&t=all&sort=top)**.** Find posts with numerous upvotes and sort the comments by controversial first. You might find some supportive or critical material worth borrowing. * **[Find](https://en.wikipedia.org/w/index.php?search=Cardano&title=Special%3ASearch&profile=default&fulltext=1&ns0=1) the Cardano Wikipedia page and read through the references.** The references section can be a great starting point for researching your argument. * **1st place doesn't take all,** so don't be discouraged! Both 2nd and 3rd places give you two more chances to win moons. Submit your pro-arguments below. Good luck and have fun.

posted by /u/CointestMod in /r/CointestOfficial on November 8, 2022 17:31:07

https://www.reddit.com/r/CointestOfficial/comments/yq0pbd/top_coins_bitcoin_conarguments_november_2022/

Welcome to the r/CryptoCurrency [Cointest](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy). For this thread, the category is General Concepts and the topic is Bitcoin Con-Arguments. It will end three months from when it was submitted. Here are the [rules and guidelines](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy#wiki_rules). **SUGGESTIONS:** * **Use the** [**Cointest Archive**](https://old.reddit.com/r/CointestOfficial/wiki/cointest_archive) for some of the following suggestions. * **Preempt counter-points** in opposing threads (pro or con) to help make your arguments more complete. * **Read through these Bitcoin search listings sorted by** [**relevance**](https://old.reddit.com/r/CryptoCurrency/search?q=Bitcoin&restrict_sr=on&include_over_18=on&sort=relevance&t=all) **or** [**top**](https://old.reddit.com/r/CryptoCurrency/search/?q=Bitcoin&include_over_18=on&restrict_sr=on&t=all&sort=top)**.** Find posts with numerous upvotes and sort the comments by controversial first. You might find some supportive or critical material worth borrowing. * **[Find](https://en.wikipedia.org/w/index.php?search=Bitcoin&title=Special%3ASearch&profile=default&fulltext=1&ns0=1) the Bitcoin Wikipedia page and read through the references.** The references section can be a great starting point for researching your argument. * **1st place doesn't take all,** so don't be discouraged! Both 2nd and 3rd places give you two more chances to win moons. Submit your pro-arguments below. Good luck and have fun.

posted by /u/CointestMod in /r/CointestOfficial on November 8, 2022 17:31:01

https://www.reddit.com/r/CointestOfficial/comments/yq0p88/top_coins_bitcoin_proarguments_november_2022/

Welcome to the r/CryptoCurrency [Cointest](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy). For this thread, the category is General Concepts and the topic is Bitcoin Pro-Arguments. It will end three months from when it was submitted. Here are the [rules and guidelines](https://old.reddit.com/r/CointestOfficial/wiki/cointest_policy#wiki_rules). **SUGGESTIONS:** * **Use the** [**Cointest Archive**](https://old.reddit.com/r/CointestOfficial/wiki/cointest_archive) for some of the following suggestions. * **Preempt counter-points** in opposing threads (pro or con) to help make your arguments more complete. * **Read through these Bitcoin search listings sorted by** [**relevance**](https://old.reddit.com/r/CryptoCurrency/search?q=Bitcoin&restrict_sr=on&include_over_18=on&sort=relevance&t=all) **or** [**top**](https://old.reddit.com/r/CryptoCurrency/search/?q=Bitcoin&include_over_18=on&restrict_sr=on&t=all&sort=top)**.** Find posts with numerous upvotes and sort the comments by controversial first. You might find some supportive or critical material worth borrowing. * **[Find](https://en.wikipedia.org/w/index.php?search=Bitcoin&title=Special%3ASearch&profile=default&fulltext=1&ns0=1) the Bitcoin Wikipedia page and read through the references.** The references section can be a great starting point for researching your argument. * **1st place doesn't take all,** so don't be discouraged! Both 2nd and 3rd places give you two more chances to win moons. Submit your pro-arguments below. Good luck and have fun.

posted by /u/CointestMod in /r/CointestOfficial on November 8, 2022 17:30:55
Top
/r/CryptoCurrency/comments/10wdckv/reddit_user_discovers_7zip_file_possibly_linked/j7menmj/

#Bitcoin Con-Arguments Below is an argument written by Nostalg33k which won 2nd place in the Bitcoin Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > # Bitcoin: A nice idea with the worst implementation possible. > > Having a worldwide permission-less system of financial settlement may seem like a good idea at first glance. "Let's bank the unbanked" and other nice sentences skewed crypto enthusiasts towards Bitcoin but in the end, Bitcoin is already failing and should nothing be done to change some of its internal and external factors, Bitcoin's outlook could change from positive to very negative. Here is my perspective on the future of Bitcoin. > > # Early investors makes the profit > > A permission-less payment system to escape the greediness of the banks... only to be left in the hands of speculators. Right now, Bitcoin is an investment more than a payment system. After all, if you were paid in Bitcoin in 2021, you could have lost more than 2/3 of the value you transferred to your client. > > This is why Bitcoin is problematic as a Permission-less settlement system: You always need to go back to banks and to fiat because fiat is more stable than Bitcoin. > > This situation leads to early investors getting profits and people using Bitcoin as supposed (A payment system) are left licking their wounds. > > # The price of permission less. > > An ethical question arise when discussing a permission less settlement system. Should we have one ? From terrorism to rogue states, our world is still very unstable. Bitcoin is only creating more instability. Allowing countries such as Iran to escape US led sanctions. After all Bitcoin first use case was to fuel the financial ecosystem of a dark web drug market. > > ​ > > # No framework for adoption > > In a lot of countries, being paid in Bitcoin is problematic. From different taxation rules for revenue in Bitcoin to straight up considering all Crypto holdings to be speculative and considering they should be under a flat tax of 30%. This lack of framework may have been a reason for Bitcoin rising to this point but it is now slowing development. > > ​ > > # Conclusion: Bitcoin is both a threat to global stability and under threat because of the lack of oversight. > > Having a permission less settlement system seems like a good thing... between reasonable financial actors. Right now this anarco libertariano capitalist idea may have already gone too far. Allowing cartels and other criminals to be funded through Bitcoin is a bad idea. People using Bitcoin in Venezuela could be seen as a good thing BUT the theory is supposed to be that financial suffering leads to revolution. > > More over the lack of comprehensive rules worldwide when looking at Cryptocurrencies is now slowing adoption. Adoption which could lead to a congested network. > > In the end we may simply be looking at Bitcoin failing its first mission. Becoming slowly a reserve fund for traditional banking and countries instead of offering an alternative to traditional banking. > > This failure shows that Bitcoin has not resolved the problems it set out to resolve and that the experiment should be seen as a failure for everyone except those of us treating Crypto as an investment. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpuiar/top_coins_bitcoin_conarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10vmhhb/daily_general_discussion_february_7_2023_gmt0/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 16:15:25
/r/CryptoCurrency/comments/10wdckv/reddit_user_discovers_7zip_file_possibly_linked/j7memqv/

#Bitcoin Pro-Arguments Below is an argument written by Nostalg33k which won 1st place in the Bitcoin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Writing a Pro argument for Bitcoin in 2022 seems complicated because everything has been said... or did it? > > Edit: I have a small bag of Bitcoin currently valued around 600 bucks. I am also invested in crypto around 2000 bucks which are always moving when Bitcoin is moving. Financial disclosure should be mandatory in these arguments =) > > # Bitcoin is the king of POW: Why it matters and why we need a strong Bitcoin > > So as the title suggests it, the recent news from Ethereum switching from POW to POS makes Bitcoin the sole serious POW cryptocurrency. In this write up, we are going to discuss the three main strength of Bitcoin, security, decentralization, and incentive for green energy production. In this write up we are not going to talk about speculation or the financial side of Bitcoin. Bitcoin is a highly liquid asset and has become nearly universally known as an investment. Many arguments have been made in favor of Bitcoin as an investment and if you want to read one, just go to past cointests. > > ​ > > Of course, the main feature of Bitcoin is the Permissionless aspect. This won't be tackled at all as I think it deserves its own topic. > > ​ > > # 1) Bitcoin: High security > > This topic has also been talked to death: Bitcoin is ultra secure thanks to its Blockchain and the way it is verified through proof of work. To explain this let me quote IBM: > > ​ > > >Public blockchain networks typically allow anyone to join and for participants to remain anonymous. A public blockchain uses internet-connected computers to validate transactions and achieve consensus. Bitcoin is probably the most well-known example of a public blockchain, and it achieves consensus through "bitcoin mining." Computers on the bitcoin network, or “miners,” try to solve a complex cryptographic problem to create proof of work and thereby validate the transaction. Outside of public keys, there are few identity and access controls in this type of network. > > > >[IBM on Blockchain security](https://www.ibm.com/topics/blockchain-security) > > ​ > > Mining is measured in Hashrate. Here is the explanation of Hashrate: > > >Hash rate, sometimes referred to as hashrate, is a measure of the computing power on a cryptocurrency network that serves as a key security indicator. It measures the total computational power used by a “proof-of-work” (POW) cryptocurrency network to process transactions in a blockchain. > > > >[USNEWS explains hashrate](https://money.usnews.com/investing/term/hash-rate#:~:text=Hash%20rate%2C%20sometimes%20referred%20to,process%20transactions%20in%20a%20blockchain) > > ​ > > So if the hashrate measures the security of the network, one may asks themselves: "Did the security of Bitcoin slowed when the price fell ?" > > [The hashrate is at an ATH and growing making Bitcoin more and more secure as it continues to build over time](https://ycharts.com/indicators/bitcoin_network_hash_rate#:~:text=Basic%20Info,101.2%25%20from%20one%20year%20ago) > > ​ > > So Bitcoin has never been as secure as it is today which makes it ultra valuable as a way to settle financial transactions. Yes holding Bitcoin for a long time is risky but using it as a medium to settle international transaction may currently be the securest and one of the best way to do so. > > While Bitcoin is safe... what if a big part fails ? > > ​ > > # 2) Bitcoin mining: Too big to fail. > > ​ > > So this write up could be seen as a POW write up, which it is to an extent. But Bitcoin offers its history and shows that it can survive the disparition of a big part of the network. > > Decentralization allows for parts of the network to disappear and for the rest to take the mantle of securing the network. Yes, mining pools may grow too large for their own sake BUT in the end (nothing even matters) Bitcoin is heavily decentralized. It is so decentralized that, when China (which had a big part of Bitcoin mining) banned mining, Bitcoin just went through like nothing happened. Yes the hashrate fell a bit, the value too, but if we look back, it was nothing extraordinary. > > ​ > > So if Bitcoin is highly secure and if it can survive part of the hashrate going bye bye, what makes it so good? What is the difference with any POW Cryptocurrency right now? > > ​ > > # 3) Bitcoin: propping up the green energy sector. > > ​ > > POW uses energy. One of the biggest concern about POW is the energy. While Ethereum was using GPUs and was asic resistant. Bitcoin mining is built differently. A long time ago, under oath, people discussed the environmental impact of Bitcoin Mining and I made a post explaining what was said: > > ​ > > >The Energy Fud Was Killed > > The most important thing that happened: The narrative that Bitcoin is too energy intensive was totally reversed. > > Experts of the sector explained that, Wind Farms and Solar Farms, have a variable load. This variable load means that sometimes they lose money because they produce too much and there is not enough demand. Bitcoin mining provides a variable base load for these projects. What it means is that, mining can be turned on and off depending on demand. It was revealed that most of these wind and solar farms would simply not exist without Bitcoin Farming as baseline customers. > > There are still miners that are using coal plants and fossil fuel but the leaders of the industry are developing in tandem with the green energy sector. > > >[My post](https://www.reddit.com/r/CryptoCurrency/comments/s99phv/yesterday_one_of_the_most_bullish_events_ever/) > > ​ > > # Conclusion: Bitcoin is the flagship of POW and it is a feature not a bug. > > Bitcoin, thanks to its value and tokenomics is seen as a good investment, this is also why miners commit huge amount of ressources to take the hashrate to new heights. These miners help the US grid to become more and more resilient. The future of Crypto and of green energy relies a lot on Bitcoin. Bitcoin has proven time and time again that it can shoulder these changes. Bitcoin is a good piece of technology and I hope people continue to invest in it because it is doing a lot of good for our future ! ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpui9i/top_coins_bitcoin_proarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 16:15:15
/r/CryptoCurrency/comments/10wdckv/reddit_user_discovers_7zip_file_possibly_linked/j7melws/

Bitcoin {{pros}} & {{cons}} and related info are in the collapsed comments below. Pros and cons will change for every new post.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 16:15:07
/r/CryptoCurrency/comments/10wdckv/reddit_user_discovers_7zip_file_possibly_linked/j7mely9/

* Relevant Cointest topics: [Bitcoin Cash](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_bitcoin_cash), [Litecoin](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_litecoin), [Lightning Network](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_lightning_network), [Proof of Work](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_proof-of-work) * Official and related subreddits: r/Bitcoin, r/BitcoinMarkets, r/BitcoinMining, r/BTC, r/BitcoinCash. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/10wdckv/reddit_user_discovers_7zip_file_possibly_linked/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 16:15:07
/r/CryptoMarkets/comments/10wcs5v/the_evolution_of_bitcoin_privacy_how_tracking/j7mcgxx/

#Privacy Con-Arguments Below is an argument written by Nostalg33k which won 2nd place in the Privacy Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > # Monero: A problematic currency. > > \- A very short argument against privacy and tax evasion. > > Monero is an incredible concept that can lead to massive problems for the economy and for taxation. We currently live in a world with regulation and taxation in order to curb the power of the very rich. > > The meme is very old "I lost my wallet in a boat accident". How do you do sales tax with Monero, how do you do income tax with Monero, how do you manage to redistribute wealth with Monero. > > While this scenario may be a libertarian utopian fever dream, for most of people it would mean less services, less rights and less ability to move upward. > > Monero is a dangerous project because of the privacy behind it. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/sifdy7/coin_inquiries_monero_conarguments_february_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Privacy) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10vmhhb/daily_general_discussion_february_7_2023_gmt0/).

Commented by /u/CointestMod in /r/CryptoMarkets on February 7, 2023 16:01:39
/r/CryptoMarkets/comments/10wcs5v/the_evolution_of_bitcoin_privacy_how_tracking/j7mcg6j/

#Privacy Pro-Arguments Below is an argument written by Ornery_Maintenance_8 which won 2nd place in the Privacy Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Monero is private by default and leaves it up to you, what you want to reveal and to whom. > > If we think about privacy the first thing that comes to mind is often: Why would I need privacy ? I am not doing anything wrong. > > But this is a major misconception of privacy. To say it with the words of Eric Hughes: > > *"Privacy is necessary for an open society in the electronic age. Privacy is not secrecy. A private matter is something one doesn't want the whole world to know, but a secret matter is something one doesn't want anybody to know. Privacy is the power to selectively reveal oneself to the world."* > > or Edward Snowden: > > *"Privacy is the right to a free mind"* > > *"Without privacy, you can't have anything for yourself. Saying you don't care about privacy because you have nothing to hide is like saying you don't care about free speech because you have nothing to say."* > > Privacy is a fundamental human right and a lack of it automatically results in a loss of personal freedom. If you cant act privately you cant act free ! > > Just imagine your whole family, your friends, your boss, your neighbor, your landlord, the government and the scammer around the corner would always be able to stay informed about everything you do ... It opens yourself up for any kind of control, suppression and fraud. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/sifdv9/coin_inquiries_monero_proarguments_february_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Privacy) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoMarkets on February 7, 2023 16:01:30
/r/CryptoMarkets/comments/10wcs5v/the_evolution_of_bitcoin_privacy_how_tracking/j7mcfej/

* Relevant Cointest topics: [Monero](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_monero), [DEX](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_dex), [Regulation](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_regulation), [Basic Attention Token](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_basic_attention_token). * Related subreddits: r/Privacy, r/Brave_Browser, r/DEX, r/PrivacyTools, r/Tor, r/I2P, r/Onions, r/Tails, r/Monero, r/DashPay. * Sort comments as controversial first by [clicking here](/r/CryptoMarkets/comments/10wcs5v/the_evolution_of_bitcoin_privacy_how_tracking/j7mcbz3/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoMarkets on February 7, 2023 16:01:22
/r/CryptoMarkets/comments/10wcs5v/the_evolution_of_bitcoin_privacy_how_tracking/j7mcfd7/

Privacy {{pros}} & {{cons}} from the [Cointest](https://www.reddit.com/r/CointestOfficial/wiki/cointest_policy) along with other related info are in the collapsed comments below. Pros and cons will change for every new post. Submit an argument in the [Cointest](https://www.reddit.com/r/CointestOfficial/wiki/cointest_policy) and potentially win [Moons](https://coinmarketcap.com/currencies/moon/). **Moon prizes by award for the General Concepts category are: **1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 1000.** --- To submit a pro-argument about privacy, [click here](https://www.reddit.com/r/CointestOfficial/comments/t5mmym/general_concepts_privacy_proarguments_march_2022/). | To submit a con-argument about privacy, [click here](https://www.reddit.com/r/CointestOfficial/comments/t5mmzb/general_concepts_privacy_conarguments_march_2022/).

Commented by /u/CointestMod in /r/CryptoMarkets on February 7, 2023 16:01:22
/r/CryptoMarkets/comments/10wcs5v/the_evolution_of_bitcoin_privacy_how_tracking/j7mcfbg/

#Monero Con-Arguments Below is an argument written by Nostalg33k which won 2nd place in the Monero Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > # Monero: A problematic currency. > > \- A very short argument against privacy and tax evasion. > > Monero is an incredible concept that can lead to massive problems for the economy and for taxation. We currently live in a world with regulation and taxation in order to curb the power of the very rich. > > The meme is very old "I lost my wallet in a boat accident". How do you do sales tax with Monero, how do you do income tax with Monero, how do you manage to redistribute wealth with Monero. > > While this scenario may be a libertarian utopian fever dream, for most of people it would mean less services, less rights and less ability to move upward. > > Monero is a dangerous project because of the privacy behind it. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/sifdy7/coin_inquiries_monero_conarguments_february_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Monero) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10vmhhb/daily_general_discussion_february_7_2023_gmt0/).

Commented by /u/CointestMod in /r/CryptoMarkets on February 7, 2023 16:01:21
/r/CryptoMarkets/comments/10wcs5v/the_evolution_of_bitcoin_privacy_how_tracking/j7mceir/

#Monero Pro-Arguments Below is an argument written by roberthonker which won 3rd place in the Monero Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > **Taken from /u\/awhodothey's submission from last round** > > Assume no consumers ever care about privacy. Assume everyone is totally fine with all of their finances and purchase records being 100% visible on the blockchain to anyone who EVER pays or receives crypto from them once. Or assume crypto never catches on enough for casual consumers to realize they don't want every company to know every detail of their life... Monero will still succeed. Monero's real world market adoption will still continue to grow. > > Assume Monero was banned by every country in the world. Monero is the only coin who's market cap would be projected to increase even if it was completely banned, because Monero is the preferred coin of the black market, and black market activities are, by definition, already banned by law. > > The market cap of the black market is the market cap of every commercial activity that governments physically cannot stop. Monero's usage, market cap and price are increasing as the black market very slowly adopts Monero- despite the fact that most exchanges have already delisted XMR. Monero is the only multi-billion dollar coin that is known to have no chance at being listed on some of the biggest exchanges. So why is it worth so much still? Because unlike every other crypto, Monero is actually used as an exchange currency in the real world. > > The global black market is currently estimated to be over $10 trillion/year- larger than the economy of every country in Europe. If the global black market were a country it would be the second or third largest economy in the world. > > https://www.forbes.com/sites/benzingainsights/2011/11/07/rise-of-the-shadow-economy-second-largest-economy-in-the-world/?sh=4198b6cf4a0e > > The anonymity of Monero is comparable to the anonymity of cash, but Monero is much cheaper and faster than cash transfers. Further, because Monero does not need to be physically transfered or stored, it is much safer and greatly reduces the risk of violence and theft to black market participants. > > But what if every single centralized exchange removed Monero? It's too late. All the necessary pieces are already on the board. Atomic swaps with bitcoin are live, and wallets are rushing to integrate decentralized, trustless BTC to XMR exchange. Secret Network already has a tokenized version of Monero (sXMR) on the testnet of Secret Swap (a private, decentralized exchange that anyone can use without KYC). Every major crypto will be convertible to Monero. And options like "localMonero" already exist for anyone who wants to convert cash or refillable debit cards directly to Monero. > > Monero is the leading privacy coin, and the only trustless privacy coin with a network effect and proven track record of real world use. It is privacy by default, and users have no risk of forgetting to enable privacy. The Monero network is highly decentralized and open source and does not require users to trust its creators. The community is active and passionately unified around the core objectives of creating a real decentralized currency that is private. The IRS's bounty for anyone who can crack Monero is a testament to years of proven success. > > Monero is *the* crypto currency of the black market. Monero has no competition in that market, and it leaves no room for another coin to prove itself. Worst case scenario, Monero is outlawed and rejected by all law abiding citizens of the world. Monero would eventually replace blackmarket currencies and make some black market practices, like money laundering and off shore banking, entirely unnecessary. > > There is no need for slow, extremely expensive off shore banking practices that carry privacy risks (like the Panama papers that leaked account holder's names) and security risks (like the government reforms that have lead to account confiscations). Monero is cheaper, faster, easier, safer, and more private. It makes off shore banking completely obsolete. > > The market cap of gold is about $11 trillion. Low end estimate of the offshore banking market cap is $20 trillion. At $222, the current market cap of Monero is about $4 billion. When Monero's market cap reaches 1% of the low estimate of the illegal global offshore banking market, that will make each Monero worth more than $11,000. > > https://www.forbes.com/sites/frederickallen/2012/07/23/super-rich-hide-21-trillion-offshore-study-says/?sh=191f47fa6ba6 > > Monero will inevitably become a major currency of the future. Probably nothing can stop that, so you may as well think about your privacy and choose to use it to protect your perfectly legal transactions too. Fortunately, Monero is designed to be a currency, not a store of value with a fixed supply that discourages spending. > > Black market adoption will put buy pressure on XMR, and that demand will slowly drive the price up. Monero may not be the fastest growing investment opportunity, but that's what makes it a better currency. I can't name an investment that would be lower risk, or name a better crypto currency. ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/ovmttk/rcc_cointest_coin_inquiries_monero_proarguments/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Monero) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoMarkets on February 7, 2023 16:01:13
/r/CryptoMarkets/comments/10wcs5v/the_evolution_of_bitcoin_privacy_how_tracking/j7mcdrj/

* Relevant Cointest topics: [Privacy](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_privacy), [Basic Attention Token](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_basic_attention_token), [Proof of Work](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_proof-of-work), [Regulation](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_regulation). * Relevant subreddits: r/Monero, r/MoneroMining, r/XMRtrader, r/DashPay, r/Zec, r/Pivx, r/Privacy, r/Tor, r/I2P, r/Onions, r/Tails, r/SelfHosted. * Sort comments as controversial first by [clicking here](/r/CryptoMarkets/comments/10wcs5v/the_evolution_of_bitcoin_privacy_how_tracking/j7mcbz3/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoMarkets on February 7, 2023 16:01:05
/r/CryptoMarkets/comments/10wcs5v/the_evolution_of_bitcoin_privacy_how_tracking/j7mcdqb/

Monero {{pros}} & {{cons}} and related info are in the collapsed comments below. Pros and cons will change for every new post. Submit a pro/con argument in the [Cointest](https://www.reddit.com/r/CointestOfficial/wiki/cointest_policy) and potentially win [Moons](https://coinmarketcap.com/currencies/moon/). Moon prizes by award for the Coin Inquiries category are: **1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 1000.**** --- To submit an XMR pro-argument, [click here](https://www.reddit.com/r/CointestOfficial/comments/sifdv9/coin_inquiries_monero_proarguments_february_2022/). | To submit an XMR con-argument, [click here](https://www.reddit.com/r/CointestOfficial/comments/sifdy7/coin_inquiries_monero_conarguments_february_2022/).

Commented by /u/CointestMod in /r/CryptoMarkets on February 7, 2023 16:01:04
/r/CryptoMarkets/comments/10wcs5v/the_evolution_of_bitcoin_privacy_how_tracking/j7mccuo/

#Bitcoin Pro-Arguments Below is an argument written by Maleficent_Plankton which won 2nd place in the Bitcoin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > ##**Main PROs** > > Bitcoin is currently the most popular cryptocurrency and marketcap leader. Among all the cryptocurrencies, it's the one your grandma would most likely have heard of. This is mainly due to its first-mover advantage coupled with the network effect. And since cryptocurrency value is largely based on a Keynesian Beauty Contest, it's likely to remain the most popular for years to come. > > **First-Mover Advantage**: This gave Bitcoin a huge head start over its competitors despite that it's technologically behind. If Bitcoin, Bitcoin Cash, and Litecoin were all released simultaneously, Bitcoin would lose to its competitors because its competitors have much more efficient designs with higher throughput. There are many newer networks that have 10-100x Bitcoin's throughput and have 100x cheaper fees. But the reality is that Bitcoin's first-mover advantage gave it such a huge head start that the others can't catch up. > > **The Network Effect**: This means that people will flock to whichever product has the largest user base. Whenever people first invest in cryptocurrency, they notice Bitcoin first because it's the largest and most popular. For half a decade, its name was almost synonymous with cryptocurrency. The network effect creates a positive feedback loop and makes Bitcoin's lead grow even more. Its block subsidy is also the highest, which attracts miners, thus increasing its security. > > **Anti-censorship**: Bitcoin provides partial financial 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. For example, many Russians, Iranian, and North Koreans are getting around sanctions by using Bitcoin and mixers. Legal sex workers and marijuana industries are sometimes blocked from using traditional financial services due to social stigma. Bitcoin provides those workers a way to transfer funds that censorship. > > **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. > > **Cannot be counterfeited**: Cash can be counterfeited, but you can't fake transactions or UTXOs. > > **Considered a commodity**: Bitcoin is the only cryptocurrency that both the SEC and CFTC have openly stated is likely a commodity, so it has a low chance of being subjected to future securities regulations. > > ##**The Bitcoin Narratives and the Knowledge Gap** > > There are so many Bitcoin Maxis who will ignore logic and keep spreading Pro-Bitcoin Narratives of questionable 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. Those who aren't technical will believe them without digging deeper. (Sadly, I may have spread a couple of these myself not that long ago.) Thus, Bitcoin tends to cult-ivate a community of block-headed maximalists who are willing to shill and meme Bitcoin all day long. > > **Here's a list of popular but questionable Bitcoin Narratives.** Regardless of whether these are accurate, they will keep spreading and contributing to Bitcoin's popularity and network effect. > > * **Maximum Supply cap guarantees scarcity and that price will keep increasing**: Bitcoin has a supply cap of 2.1 Million Bitcoins, so it's deflationary and will keep going up in price. > * **Reality**: Bitcoin is actually inflationary, albeit disinflationary, until 2140. Scarcity is questionable because it can always fork, and there are competing blockchains. There is no guarantee that price will keep going up. The maximum supply cap is also a double-edged sword since mining rewards aren't guaranteed, and Bitcoin's security will likely decline greatly decades from now. > * **Bitcoin is an Inflation Hedge** > * **Reality**: When inflation rose in 2022, Bitcoin plunged in price, proving that it's not a good inflation hedge. Instead, it tends to go up and down with the stock market, but with higher volatility. > * **Bitcoin is a great Store of Value (i.e. Digital gold)** > * **Reality**: Bitcoin's price is too volatile to make it a good Store of Value. > * **All altcoins are shitcoins**: Altcoins will never beat Bitcoin and always fail. Bitcoin has survived multiple hard forks, bug fixes, country-wide bans, and 80-90% value crashes ... unlike most altcoins. > * **Reality**: Altcoins fall harder during bear markets, but they also rise more during bull markets. The better ones also have better protocol designs than Bitcoin. Eventually, one of them could even dethrone Bitcoin. > * **UTXO batch transactions**: Bitcoin can natively batch UTXO transactions to increase to effective throughput beyond TPS. > * **Reality**: While it's true that batch transactions increase effective transfers, they only do so by a maximum of 70%, increasing effective throughput from 3 transfers/s to 5 transfers/s. There is a 40% savings in storage space, and 75% savings in fees [[Source](https://blog.coinbase.com/reflections-on-bitcoin-transaction-batching-b13dad12a12)]. Also note that account-based smart contracts can save similar amounts of storage and fees, so this isn't unique to Bitcoin. > * **The Lightning Network can scale Bitcoin to the global population**: The Lightning Network can greatly scale Bitcoin and enable fast peer-to-peer transactions. > * **But**: It can't scale well past 1% of the global population since users are expected to open and close channel regularly. And if 10% of the global population uses the Lightning Network, they can only open and close channels once every 8 years on average due to congestion on Layer 1. The only way to get around this is if everyone only interacts on centralized exchanges without touching the network itself. > * **Decentralization**: Bitcoin is the most decentralized cryptocurrency because it has the highest Nakamoto Coefficient when measured by individual miners. > * **Reality**: The top 3 mining pools own 60% of the network hash rate, and the true coefficient is just 3. > * **Fair launch**: Bitcoin had a fair launch. First the first couple of years, anyone had to work for their Bitcoins. There was no ICO. > * **But**: There were only ~100 miners the first several years, and that they mined out the vast majority of all Bitcoins and got a huge advantage over everyone else. > > If these are flawed arguments, why am I even listing them as Pros? **To show that even if these narratives are questionable, there are so many of them, and they will keep spreading.** For each person who realizes their flaws, two more newbies who don't bother with research will gobble them up. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpui9i/top_coins_bitcoin_proarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoMarkets on February 7, 2023 16:00:55
/r/CryptoMarkets/comments/10wcs5v/the_evolution_of_bitcoin_privacy_how_tracking/j7mcc1j/

Bitcoin [pros](/r/CryptoMarkets/comments/10wcs5v/the_evolution_of_bitcoin_privacy_how_tracking/j7mccuo/) & [cons](/r/CryptoMarkets/comments/10wcs5v/the_evolution_of_bitcoin_privacy_how_tracking/j7mcdot/) and related info are in the collapsed comments below. Pros and cons will change for every new post.

Commented by /u/CointestMod in /r/CryptoMarkets on February 7, 2023 16:00:47
/r/CryptoMarkets/comments/10wcs5v/the_evolution_of_bitcoin_privacy_how_tracking/j7mcc2n/

* Relevant Cointest topics: [Bitcoin Cash](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_bitcoin_cash), [Litecoin](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_litecoin), [Lightning Network](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_lightning_network), [Proof of Work](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_proof-of-work) * Official and related subreddits: r/Bitcoin, r/BitcoinMarkets, r/BitcoinMining, r/BTC, r/BitcoinCash. * Sort comments as controversial first by [clicking here](/r/CryptoMarkets/comments/10wcs5v/the_evolution_of_bitcoin_privacy_how_tracking/j7mcbz3/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoMarkets on February 7, 2023 16:00:47
/r/CryptoMarkets/comments/10wcs5v/the_evolution_of_bitcoin_privacy_how_tracking/j7mcbz3/

Pro & con info are in the collapsed comments below for the following topics: {{top_level_links}}

Commented by /u/CointestMod in /r/CryptoMarkets on February 7, 2023 16:00:46
/r/CryptoCurrency/comments/10w9ap6/bitcoin_is_having_an_exactly_symmetrical_price/j7mcauf/

#Bitcoin Pro-Arguments Below is an argument written by Far-Scholar9028 which won 3rd place in the Bitcoin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Understanding the benefits and drawbacks of the bitcoin blockchain is essential if you're considering investing in bitcoin. Let's start off with the positives of BTC. > > **21 Million Fixed Supply** > > Bitcoin cannot be printed by governments at will, unlike fiat money like the US dollar. There are only a total of 21 million bitcoins in existence. An estimated 3.7 million bitcoins have been lost, which means they will never be found without the private key. Citizens all over the world are using bitcoin as an inflation hedge due to the continued money creation by central banks around the world. > > **Decentralization** > > The ability to conduct financial transactions without a third-party intermediary watching over the transaction is referred to as decentralization. The nodes, or individual computers that make up the Bitcoin network, are numerous. Decentralization is crucial because it precludes an attack on a single point of failure, making it nearly impossible for any government or organization to bring down the BTC network. > > **25/7/365** > > Bitcoin doesn't have afternoon or weekend closing times like conventional financial markets do. Bitcoin can be traded 365 days a year, around the clock. Furthermore, sending bitcoin is quicker than making a bank transfer. The Bitcoin network is accessible to everyone. It is an open peer-to-peer network that everyone can utilize, regardless of where they reside or how much money they have. > > **Self Custody** > > Self-custody is vital for cryptocurrencies like bitcoin. You don't have to rely on a single corporation, a bank, or legal documents to acquire full ownership of your possessions. In nations around the world with weak property rights, this has a huge impact and gives people more power and control over their finances. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpui9i/top_coins_bitcoin_proarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 16:00:34
/r/CryptoCurrency/comments/10w9ap6/bitcoin_is_having_an_exactly_symmetrical_price/j7mca2i/

* Relevant Cointest topics: [Bitcoin Cash](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_bitcoin_cash), [Litecoin](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_litecoin), [Lightning Network](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_lightning_network), [Proof of Work](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_proof-of-work) * Official and related subreddits: r/Bitcoin, r/BitcoinMarkets, r/BitcoinMining, r/BTC, r/BitcoinCash. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/10w9ap6/bitcoin_is_having_an_exactly_symmetrical_price/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 16:00:26
/r/CryptoCurrency/comments/10w9ap6/bitcoin_is_having_an_exactly_symmetrical_price/j7mca1m/

Bitcoin {{pros}} & {{cons}} and related info are in the collapsed comments below. Pros and cons will change for every new post.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 16:00:26
/r/CryptoCurrency/comments/10wcs4p/eventually_at_most_only_21_million_coins_for_68/j7mc9y1/

#Bitcoin Con-Arguments Below is an argument written by Nostalg33k which won 2nd place in the Bitcoin Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > # Bitcoin: A nice idea with the worst implementation possible. > > Having a worldwide permission-less system of financial settlement may seem like a good idea at first glance. "Let's bank the unbanked" and other nice sentences skewed crypto enthusiasts towards Bitcoin but in the end, Bitcoin is already failing and should nothing be done to change some of its internal and external factors, Bitcoin's outlook could change from positive to very negative. Here is my perspective on the future of Bitcoin. > > # Early investors makes the profit > > A permission-less payment system to escape the greediness of the banks... only to be left in the hands of speculators. Right now, Bitcoin is an investment more than a payment system. After all, if you were paid in Bitcoin in 2021, you could have lost more than 2/3 of the value you transferred to your client. > > This is why Bitcoin is problematic as a Permission-less settlement system: You always need to go back to banks and to fiat because fiat is more stable than Bitcoin. > > This situation leads to early investors getting profits and people using Bitcoin as supposed (A payment system) are left licking their wounds. > > # The price of permission less. > > An ethical question arise when discussing a permission less settlement system. Should we have one ? From terrorism to rogue states, our world is still very unstable. Bitcoin is only creating more instability. Allowing countries such as Iran to escape US led sanctions. After all Bitcoin first use case was to fuel the financial ecosystem of a dark web drug market. > > ​ > > # No framework for adoption > > In a lot of countries, being paid in Bitcoin is problematic. From different taxation rules for revenue in Bitcoin to straight up considering all Crypto holdings to be speculative and considering they should be under a flat tax of 30%. This lack of framework may have been a reason for Bitcoin rising to this point but it is now slowing development. > > ​ > > # Conclusion: Bitcoin is both a threat to global stability and under threat because of the lack of oversight. > > Having a permission less settlement system seems like a good thing... between reasonable financial actors. Right now this anarco libertariano capitalist idea may have already gone too far. Allowing cartels and other criminals to be funded through Bitcoin is a bad idea. People using Bitcoin in Venezuela could be seen as a good thing BUT the theory is supposed to be that financial suffering leads to revolution. > > More over the lack of comprehensive rules worldwide when looking at Cryptocurrencies is now slowing adoption. Adoption which could lead to a congested network. > > In the end we may simply be looking at Bitcoin failing its first mission. Becoming slowly a reserve fund for traditional banking and countries instead of offering an alternative to traditional banking. > > This failure shows that Bitcoin has not resolved the problems it set out to resolve and that the experiment should be seen as a failure for everyone except those of us treating Crypto as an investment. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpuiar/top_coins_bitcoin_conarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10vmhhb/daily_general_discussion_february_7_2023_gmt0/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 16:00:25
/r/CryptoCurrency/comments/10wcs4p/eventually_at_most_only_21_million_coins_for_68/j7mc93b/

#Bitcoin Pro-Arguments Below is an argument written by Nostalg33k which won 1st place in the Bitcoin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Writing a Pro argument for Bitcoin in 2022 seems complicated because everything has been said... or did it? > > Edit: I have a small bag of Bitcoin currently valued around 600 bucks. I am also invested in crypto around 2000 bucks which are always moving when Bitcoin is moving. Financial disclosure should be mandatory in these arguments =) > > # Bitcoin is the king of POW: Why it matters and why we need a strong Bitcoin > > So as the title suggests it, the recent news from Ethereum switching from POW to POS makes Bitcoin the sole serious POW cryptocurrency. In this write up, we are going to discuss the three main strength of Bitcoin, security, decentralization, and incentive for green energy production. In this write up we are not going to talk about speculation or the financial side of Bitcoin. Bitcoin is a highly liquid asset and has become nearly universally known as an investment. Many arguments have been made in favor of Bitcoin as an investment and if you want to read one, just go to past cointests. > > ​ > > Of course, the main feature of Bitcoin is the Permissionless aspect. This won't be tackled at all as I think it deserves its own topic. > > ​ > > # 1) Bitcoin: High security > > This topic has also been talked to death: Bitcoin is ultra secure thanks to its Blockchain and the way it is verified through proof of work. To explain this let me quote IBM: > > ​ > > >Public blockchain networks typically allow anyone to join and for participants to remain anonymous. A public blockchain uses internet-connected computers to validate transactions and achieve consensus. Bitcoin is probably the most well-known example of a public blockchain, and it achieves consensus through "bitcoin mining." Computers on the bitcoin network, or “miners,” try to solve a complex cryptographic problem to create proof of work and thereby validate the transaction. Outside of public keys, there are few identity and access controls in this type of network. > > > >[IBM on Blockchain security](https://www.ibm.com/topics/blockchain-security) > > ​ > > Mining is measured in Hashrate. Here is the explanation of Hashrate: > > >Hash rate, sometimes referred to as hashrate, is a measure of the computing power on a cryptocurrency network that serves as a key security indicator. It measures the total computational power used by a “proof-of-work” (POW) cryptocurrency network to process transactions in a blockchain. > > > >[USNEWS explains hashrate](https://money.usnews.com/investing/term/hash-rate#:~:text=Hash%20rate%2C%20sometimes%20referred%20to,process%20transactions%20in%20a%20blockchain) > > ​ > > So if the hashrate measures the security of the network, one may asks themselves: "Did the security of Bitcoin slowed when the price fell ?" > > [The hashrate is at an ATH and growing making Bitcoin more and more secure as it continues to build over time](https://ycharts.com/indicators/bitcoin_network_hash_rate#:~:text=Basic%20Info,101.2%25%20from%20one%20year%20ago) > > ​ > > So Bitcoin has never been as secure as it is today which makes it ultra valuable as a way to settle financial transactions. Yes holding Bitcoin for a long time is risky but using it as a medium to settle international transaction may currently be the securest and one of the best way to do so. > > While Bitcoin is safe... what if a big part fails ? > > ​ > > # 2) Bitcoin mining: Too big to fail. > > ​ > > So this write up could be seen as a POW write up, which it is to an extent. But Bitcoin offers its history and shows that it can survive the disparition of a big part of the network. > > Decentralization allows for parts of the network to disappear and for the rest to take the mantle of securing the network. Yes, mining pools may grow too large for their own sake BUT in the end (nothing even matters) Bitcoin is heavily decentralized. It is so decentralized that, when China (which had a big part of Bitcoin mining) banned mining, Bitcoin just went through like nothing happened. Yes the hashrate fell a bit, the value too, but if we look back, it was nothing extraordinary. > > ​ > > So if Bitcoin is highly secure and if it can survive part of the hashrate going bye bye, what makes it so good? What is the difference with any POW Cryptocurrency right now? > > ​ > > # 3) Bitcoin: propping up the green energy sector. > > ​ > > POW uses energy. One of the biggest concern about POW is the energy. While Ethereum was using GPUs and was asic resistant. Bitcoin mining is built differently. A long time ago, under oath, people discussed the environmental impact of Bitcoin Mining and I made a post explaining what was said: > > ​ > > >The Energy Fud Was Killed > > The most important thing that happened: The narrative that Bitcoin is too energy intensive was totally reversed. > > Experts of the sector explained that, Wind Farms and Solar Farms, have a variable load. This variable load means that sometimes they lose money because they produce too much and there is not enough demand. Bitcoin mining provides a variable base load for these projects. What it means is that, mining can be turned on and off depending on demand. It was revealed that most of these wind and solar farms would simply not exist without Bitcoin Farming as baseline customers. > > There are still miners that are using coal plants and fossil fuel but the leaders of the industry are developing in tandem with the green energy sector. > > >[My post](https://www.reddit.com/r/CryptoCurrency/comments/s99phv/yesterday_one_of_the_most_bullish_events_ever/) > > ​ > > # Conclusion: Bitcoin is the flagship of POW and it is a feature not a bug. > > Bitcoin, thanks to its value and tokenomics is seen as a good investment, this is also why miners commit huge amount of ressources to take the hashrate to new heights. These miners help the US grid to become more and more resilient. The future of Crypto and of green energy relies a lot on Bitcoin. Bitcoin has proven time and time again that it can shoulder these changes. Bitcoin is a good piece of technology and I hope people continue to invest in it because it is doing a lot of good for our future ! ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpui9i/top_coins_bitcoin_proarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 16:00:16
/r/CryptoCurrency/comments/10wcs4p/eventually_at_most_only_21_million_coins_for_68/j7mc855/

* Relevant Cointest topics: [Bitcoin Cash](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_bitcoin_cash), [Litecoin](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_litecoin), [Lightning Network](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_lightning_network), [Proof of Work](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_proof-of-work) * Official and related subreddits: r/Bitcoin, r/BitcoinMarkets, r/BitcoinMining, r/BTC, r/BitcoinCash. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/10wcs4p/eventually_at_most_only_21_million_coins_for_68/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 16:00:06
/r/CryptoCurrency/comments/10wcs4p/eventually_at_most_only_21_million_coins_for_68/j7mc82q/

Bitcoin {{pros}} & {{cons}} and related info are in the collapsed comments below. Pros and cons will change for every new post.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 16:00:05
/r/CryptoCurrency/comments/10wbvf2/new_sub_banner_and_moon_burns/j7m9xif/

#Moon Con-Arguments Below is an argument written by Nostalg33k which won 2nd place in the Moon Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > # Moons: The worst idea ever ! > > Moons are the community points of the cryptocurrency subreddit and are also governance tokens. In this short demonstration, we will discuss why Moons may be the best idea reddit ever had. After a short explanation of what moons are we will discuss how they fail on different levels: Governance, Distribution and Use-case. > > Moons are tokens existing on Arbitrum Nova. They are distributed to people contributing to r/cc. > > Instead of being rewarded through a process limiting competition: for example everyone who has more than 1000 monthly Karma and submit to a cointest has an allocation equal to any other members, moons are rewarded depending on the popularity of your contributions. > > Moons can be exchanged and sold. They can also be used to weight in on decisions made to change their distribution or to change the rules of the sub. > > # Governance: The biggest failure of Moons > > > If one thing should be remembered about Moons, it is their function as governance Tokens. This fails on multiple accounts: > \-Moderators have a lot of power and can skew the votes, which puts the power in a few hands > \-If people sell their moons then Governance moons are lost (Governance moons are different from Moons since your account has only Governance power for the Moons which were acquired through distribution) which punish people who sell. > \-Self-Governing through tokens is a bad idea since people have a lot on the line to stop others from the sub and from earning moons. > > These points are great but they are supported by an even worse system of distribution ! > > # Distribution: Moons for a few > > Clearly the way moons are distributed is awful. Giving moons for the most popular content creates an incentive to strive for echo chambers. The moderator allocation creates an incentive for moderators and skews governance towards them. Also a lot of governance has made it very difficult to earn moons for a lot of people creating concentration of wealth ! > > # Use-cases: The worst way to use moons > > Moons are not just governance tokens but they also have usecases ! This is bad as more and more initiative will take place people will have opportunities to use their moons and lose their governance weight. The way moons are currently designed they can be moved really fast thanks to Arbitrum Nova and for very cheap. This will allow staking, gaming and many other ways for moons to fail as governance tokens ! > > > # Conclusion: Moons are currently failing > > Moons are clearly failing on multiple account, without even discussing how the most voting weight on governance polls is now held by moderators we can see that there are contradiction in their design. A way to repair this contradiction would be to split governance moons and token moons. Right now we are heading to a bad place where usecase and governance will collide. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/wdgsuz/coin_inquiries_moons_conarguments_august_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Moons) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10vmhhb/daily_general_discussion_february_7_2023_gmt0/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 15:45:41
/r/CryptoCurrency/comments/10wbvf2/new_sub_banner_and_moon_burns/j7m9wo6/

#Moon Pro-Arguments Below is an argument written by Blendzi0r which won 1st place in the Moon Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > *First published on: 14.10.2021* > > *Last edited on: 30.10.2022* > > # What are Moons? > > Moons were [launched by Reddit admins in May 2020](https://np.reddit.com/r/CryptoCurrency/comments/gj96lb/introducing_rcryptocurrency_moons/) on Ethereum under the [Community Points](https://www.reddit.com/community-points/) project. Users earn them by contributing (commenting, posting, taking part in contests, etc.) to r/CryptoCurrency (r/cc) subreddit. Moons represent "a unit of ownership" in the subreddit. More information on them can be found here: [https://www.reddit.com/r/CryptoCurrency/wiki/moons\_wiki](https://www.reddit.com/r/CryptoCurrency/wiki/moons_wiki) > > # What are their pros? > > **THEY CAN BE "EARNED"** > > Moons are unique. They can't be mined and you don't have to buy them in order to own some. All you need is a [reddit account](https://www.reddit.com/register/) and an opened [vault](https://www.reddit.com/community-points/). If your comments or posts are upvoted by other redditors, you will receive Moons when they are distributed. Distributions take place every 4 weeks. You might also be tipped Moons by other users directly and receive them immediately. There are also various competitions where redditors can win Moons (e.g. [Trivia](https://www.youtube.com/watch?v=fV6AMUYz-RY), [Cointest](https://www.reddit.com/r/CointestOfficial/), etc.) > > **THEY GIVE REDDITORS POWER** > > The main purpose of Moons is to use them for **voting in Governance Polls**. These polls are held on r/cc regularly and users vote on proposals submitted by other users or moderators (mods). The more Moons someone has, the greater his/her voting power is. Governance Polls allow Moon holders to push r/cc sub in the direction they believe is best. > > It's worth noting that only Moons that were **earned** can be used for voting. Bought Moons don’t increase user’s voting power. > > **THEY ENGAGE USERS** > > Moons incentivize r/cc subscribers to be active and produce quality content. r/cc is constantly in top 50 subreddits when it comes to [comments per day](https://subredditstats.com). Moons also attract new users – r/cc **is currently the most popular subreddit about crypto** with more than 5.6 million members. This gives Moons exposure to a large public. Other projects usually have to start from the bottom and work their way up before they attract a big number of holders and supporters. > > Moons also incentivize moderators as they receive 10% of the total distribution. Thanks to that, despite the huge number of members, the sub is kept clean. At least most of the time ;-) > > **FIRST MOVER ADVANTAGE** > > The popularity of Moons gives them the first mover advantage ([although they aren't the first Community Points project](https://www.reddit.com/r/ethtrader/comments/kl6ldu\/donuts_faq/)). Even if Reddit launches more Community Points on other subreddits, **Moons have already established their name** (and speaking of names – it’s hard for a better one in the world of cryptocurrencies). > > **REDDIT’S BRANDING AND PROFESSIONAL DEVELOPMENT** > > Moons are developed by a team of professionals hired by Reddit. This makes the project credible and eliminates the risk of a rug pull that is ever-present in the case of many other low market cap projects. > > What’s more, Moons' smart contracts and mobile apps have been also [reviewed and audited by Trail of Bits](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki), an independent security firm. > > Despite being Reddit’s product, Moons are independent of Reddit and once earned neither the admins nor the subreddit moderators can take them away from [users](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki). > > **MANY MOONS ARE ALREADY LOST FOREVER** > > Moons that weren’t claimed in time are lost/burned. Moons that were supposed to be delivered to people who didn’t open their vaults are also burned. It is estimated that **more than 50 million Moons are lost.** The number of lost Moons is significant since the number of circulating tokens is only 100 million and the inflation rate goes down by 2.5% with every distribution. > > [35% users who earned karma still didn’t have their vaults set up during the 18th distribution](https://np.reddit.com/r/CryptoCurrency/comments/q3cbfe/comment/hfqztnl/?utm_source=share&utm_medium=web2x&context=3). > > **MOONS ARE ON ETH MAINNET** > > On August 9, 2022, [Moons were moved to mainnet](https://np.https://www.reddit.com/r/CryptoCurrency/comments/wk75p2/pack_your_moons_were_moving_to_mainnet/), to Arbitrum Nova. Before that, Moons were on a testnet (test blockchain) and as the name suggests - they were being tested. And since they are no longer being tested, it means that Moons are now much more reliable, much more secure. What's more, **Moons can now be listed on exchanges** and they are already tradeable on gate.io and MEXC. > > More exchanges are sure to follow, [Kraken has published a crypto guide for Moons](https://www.kraken.com/en-us/learn/what-is-reddit-moon/). This might be significant because there are hundreds of coins with higher market cap but Kraken still decided to publish a guide for Moons instead of those coins. > > **MOONS HAVE A LOT OF POTENTIAL AND POSSIBLE USE-CASES** > > Being a currency of the most popular crypto sub, Moons can find a lot of new use-cases and with their low market cap they have a lot of room for growth. Moons are currently placed outside of top 1,000 coins according to Coingecko which suggests they might be strongly undervalued considering their credibility and exposure. > > Recently, r/cc has started charging Moons for AMAs. Everyone who wants an official AMA on the subreddit has to burn a certain number of tokens. r/cc has probably the biggest auditorium in the whole world of crypto, therefore "ticketing" AMAs is sure to attract many parties which, in consequence, will burn a lot of Moons. > > Moons might be finally accepted by [cyphermarket](https://www.cyphermarket.com/) and people will be able to [buy crypto-related products there directly with Moons](https://np.reddit.com/r/CryptoCurrency/comments/p9zbhg/announcing_rcryptocurrency_merchandise_and_a/). In future, Moons might be used as means of payment in other crypto-related online shops or other businesses. > > Recently, [Reddit auctioned some NFTs](https://nft.reddit.com/#live-auction). One of them was sold for 175 ETH. This might suggest that r/cc will have their own NFTs in the future, too. And if so, they will probably be sold for Moons. > > Admins have also stated that they’re “[working hard to figure out how to grow them even further](https://np.reddit.com/r/CryptoCurrency/comments/opibci/were_launching_a_scaling_network_for_moons/)”. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/wdgt3n/coin_inquiries_moons_proarguments_august_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Moons) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 15:45:32
/r/CryptoCurrency/comments/10wbvf2/new_sub_banner_and_moon_burns/j7m9vv3/

* Relevant links: r/CryptoCurrencyMoons, [Moons Wiki](https://www.reddit.com/r/CryptoCurrency/wiki/moons_wiki). * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/10wbvf2/new_sub_banner_and_moon_burns/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 15:45:24
/r/CryptoCurrency/comments/10wbvf2/new_sub_banner_and_moon_burns/j7m9vss/

Moon {{pros}} & {{cons}} and related info are in the collapsed comments below. Pros and cons will change for every new post. Submit a pro/con argument in the [Cointest](https://www.reddit.com/r/CointestOfficial/wiki/cointest_policy) and potentially win [Moons](https://coinmarketcap.com/currencies/moon/). Moon prizes by award for the Coin Inquiries category are: **1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 1000.**** --- To submit an Moons pro-argument, [click here](https://www.reddit.com/r/CointestOfficial/comments/sifdzh/coin_inquiries_moons_proarguments_february_2022/). | To submit an Moons con-argument, [click here](https://www.reddit.com/r/CointestOfficial/comments/sife2c/coin_inquiries_moons_conarguments_february_2022/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 15:45:23
/r/CryptoCurrency/comments/10wciw0/algorand_foundation_decides_on_india_partnership/j7m9vmg/

#Algorand Con-Arguments Below is an argument written by mic_droo which won 1st place in the Algorand Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Disclaimer: I do hold some ALGO and think it’s a good coin. At the same time, I think it is a bit overhyped, especially in this community, and people pretend there is absolutely nothing negative about it while it of course has negative sides to it as well, like any coin. Here are a few of them: > > * ALGO somewhat has a leadership cult. Its founder, Silvio Micali – and don’t get me wrong, that guy seems to be very, very good at what he is doing – is hailed as a god in the community. While he fortunately is not as present and outspoken about everything as other leaders like Vitalik Buterin, Gavin Wood or especially Charles Hoskinson, the ALGO community worships him just as much and likes to say stuff like “I am sure we will succeed because we have Silvio”. Similar to other top-heavy coins this is somewhat problematic, as ALGO would probably lose a lot of support if he decides to retire or if something happens to him > > * There are [very few DApps]( https://developer.algorand.org/ecosystem-projects/?tags=dapps) on Algorand. This is a bit weird, as younger and much smaller chains have a lot more going on in this area. I also rarely hear anyone talk about any of them (except back when the biggest one, Tinyman, was hacked) > > * Algorand uses the [Algorand virtual machine (AVM)](https://developer.algorand.org/docs/get-details/dapps/avm/) to run nodes on the blockchain. This makes it much harder to develop for it, and harder for DApps from other chains to be adapted to ALGO – which might explain why there isn’t a lot going on there. > > * ALGO often underdelivers on promises. For example, in late 2020 Micali promised that TPS will soon grow from [1,000 to 46,000](https://www.algorand.com/resources/algorand-announcements/algorand-2021-performance). From what I can tell from different sources (e.g. [here](https://www.gemini.com/cryptopedia/what-is-algorand-cryptocurrency-blockchain)) it’s still around 1,000, almost 1 1/2 years later. > > * the tokenomics are famously bad, with a ton of coins [going to the devs and early backers](https://algorand.foundation/governance/algo-dynamics) (they used to have another problem, accelerated vesting, that has however been [mitigated]( https://algorand.foundation/news/accelerated-vesting-complete) a few months ago) ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/sifdb5/coin_inquiries_algorand_conarguments_february_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Algorand) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10vmhhb/daily_general_discussion_february_7_2023_gmt0/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 15:45:21
/r/CryptoCurrency/comments/10wciw0/algorand_foundation_decides_on_india_partnership/j7m9usa/

#Algorand Pro-Arguments Below is an argument written by Isulet which won 3rd place in the Algorand Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Algorand > > Algorand is a decentralized blockchain network that is very popular due to its low fees and fast transactions. However, there is more to Algo than meets the eye. There are many positives about Algo which could make it one of the top cryptocurrencies. Let’s take a look. > > Accelerated Vesting > > Generally when accelerated vesting is mentioned, it is as a con. People see it as bias towards early backers/node runners, price suppression, and unequal distribution. However, I would argue that it instead created a healthy price and environment for the creation of an internet currency. Volatility is a word often heard with cryptocurrency and this program was put in place as a way to minimize that threat. Supply was just too big for the state of adoption at the time. The supply was planned to be released over five years as follows: Year 1 (2020) 3% (for a total of 17%, as relay nodes had already received 14% of their total share at this point) Year 2 (2021), 8% (for a total of 25%) Year 3 (2022), 25% (for a total of 50%) Year 4 (2023), 35% (for a total of 85%) Year 5 (2024), 40% (for a total of 125%). The extra 25% was a reward for those running the relay nodes/early backers. This release could be “accelerated” (hence accelerated vesting) based on the price of Algo when it reached all time highs over a 30 day average. While this did keep the price down, it created healthy movement of the price and kept it predictable, making it much more usable as an internet currency with organic price growth rather than something with wild fluctuations. It also incentivized the running of the blockchain through the relay nodes (We will get into this next). Regardless of a person’s opinion on accelerated vesting, it is a bit moot at the moment because accelerated vesting is finished. Algorand Foundation announced on October 5th that the supply had been distributed through the accelerated vesting program and the remainder of the locked supply of the original 10 billion minted would be released through governance. So the argument about price suppression and all that is not really relevant anymore though the early ending of the program. > > Relay Nodes > > I mentioned the relay nodes earlier as they help run the Algorand blockchain and were incentivized to do so. They are under contract to continue until 2024. They serve as network hubs and communicate with other nodes/other types of nodes (participation nodes). The relay nodes decongest the system and help keep it fast and efficient. A problem often mentioned with the relay nodes is with perceived centralization. Algorand Foundation picked companies, universities, and other early backers to run the relay nodes and keeps a list of them. This is seen as centralized by many and therefore they think it goes against the image algorand portrays. This is basically a misconception because the blockchain is run by the participation nodes, which then relay their decisions through the relay nodes. The participation nodes are indeed decentralized and permissionless, thus staying true to the image Algo wishes to portray. > > PPOS > > PPOS, or Pure Proof of Stake is what algorand operates on, as opposed to POW which is what bitcoin and some other cryptos operate on. POW has a huge downside of not being environmentally due to the massive amounts of energy needed to solve the complex problems that secure the network. Miners working for a POW blockchain could also manipulate the system should there be enough of them (51% attack). Algo operating under a PPOS system randomly selects an algo holder which validates the blocks/transactions and it is easily verifiable. By randomly distributing the tasks in a secret manner and having verifiability, the network is secured. (If you’re interested check out https://people.csail.mit.edu\/nickolai/papers/gilad-algorand-eprint.pdf > For more information about the “Byzantine Agreement”. They go into detail here and it is pretty cool.) > > Staking Rewards > > Currently, Algo offers staking rewards. This is different from other cryptos because there is no need to lock up your algo. Holding algo lets you automatically stake it. This is very attractive for beginners due to its ease of use. Holders love it as well because they accumulate more algo. Traders like it because of the lack of lock up and so can still stake while also trading when necessary. While this will end and governance rewards will take its place, it is a very appealing program for the time being. > > Governance > > As mentioned, governance will replace staking rewards. Governance is a great part of algo where you commit a certain amount of your algo for a quarter (3 months) and if you hold the amount you commit and vote on all proposals you are rewarded with a high apy%. This program encourages holding, allows for community participation, helps with decentralization, and rewards holders of algo. > > Speed and Fees > > I won’t spend much time here as these are the two points most holders know already. Algo blockchain has better scalability than other major blockchains like ethereum and can process a lot more transactions per second. THerefore it is much faster and that speed is very appealing to users. Fees are also very low with Algo, in stark contrast to high gas fees from Ethereum. > > Use Cases > > The stability of Algo allows it to be used as a digital currency very easily. But beyond using algo as a digital currency, countries could easily use it to create their own Central Bank Digital Currencies (CBDC) such as like the Marshal Islands is doing with Algo and China with the Digital Yuan. Algorand is well suited for this due to measures put in to decrease inflation and low transaction fees. FINTECH and DEFI are also popular use cases for Algo with tokens like Opulous benign released on Algorand for decentralized finance for musicians and artists. Algo is also getting in on the NFT craze and other trends in crypto. > > Developer Team > > Algorand was created by Silvio Micali and his team of professors, CEOs, and other high minded individuals. Silvio himself is a professor at MIT and highly notable in his field. This vetted and well acknowledged team lends support to Algo because it can be trusted due to those who created it and it is seen as a high quality product. ‘ > > Conclusion. > > Algorand is more than just a fast and low cost crypto. It is everything crypto investors want; it is decentralized, it is stable, organic, and affordable, it operates in a way that helps to prevent attacks and cheating, it rewards users and allows for community participation, and it has many use cases. It is a solid crypto and investment and should be considered by anyone in the crypto sphere. ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/ovmttc/rcc_cointest_coin_inquiries_algorand_proarguments/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Algorand) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 15:45:13
/r/CryptoCurrency/comments/10wciw0/algorand_foundation_decides_on_india_partnership/j7m9txg/

Algorand {{pros}} & {{cons}} and related info are in the collapsed comments below. Pros and cons will change for every new post. Submit a pro/con argument in the [Cointest](https://www.reddit.com/r/CointestOfficial/wiki/cointest_policy) and potentially win [Moons](https://coinmarketcap.com/currencies/moon/). Moon prizes by award for the Coin Inquiries category are: **1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 1000.** --- To submit an Algorand pro-argument, [click here](https://www.reddit.com/r/CointestOfficial/comments/sifd8p/coin_inquiries_algorand_proarguments_february_2022/). | To submit an Algorand con-argument, [click here](https://www.reddit.com/r/CointestOfficial/comments/sifdb5/coin_inquiries_algorand_conarguments_february_2022/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 15:45:04
/r/CryptoCurrency/comments/10wciw0/algorand_foundation_decides_on_india_partnership/j7m9tyi/

* 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), [Proof of Stake](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_proof-of-stake). * Relevant subreddits: r/Algorand, r/AlgorandOfficial, r/Ethereum, r/Cardano, r/ProofOfStake. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/10wciw0/algorand_foundation_decides_on_india_partnership/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 15:45:04
/r/CryptoCurrency/comments/10wbqsg/bitcoin_briefly_tops_233k_as_fed_chair_powell/j7m57jl/

#CBDC Con-Arguments Below is an argument written by noxtrifle which won 1st place in the CBDC Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > CBDCs are not much different from cryptocurrencies, and are digital, governmentally-issued tokens that are pegged to the value of the specific currency. Think of them like USDT or USDC, but highly regulated and centralized. This is why CBDCs have several flaws, including: > > * **Possible ban of cryptocurrencies** > * As a country implements its own CBDC, it is possible that they will simultaneously ban cryptocurrencies as an alternative means of payment, meaning that residents may be locked into using the CBDC, and nothing else. > * **Lack of privacy** > * CBDCs are fully trackable (and controllable) by the country's government, which raises concerns for users' privacy and financial autonomy. If a more authoritarian government was involved, the chances exist that the government uses citizens' personal data for malicious purposes. Even the notion that their transactions are directly trackable by the government may deter many from using CBDCs at all, diminishing their practicality if not all will use it. > * The UK's [House of Lords](https://www.omfif.org/2022/01/uk-parliament-reluctant-to-embrace-retail-cbdc/) and [US Senators](https://www.cruz.senate.gov/newsroom/press-releases/sen-cruz-introduces-legislation-prohibiting-unilateral-fed-control-of-a-us-digital-currency) Chuck Grassley, Ted Cruz, and Mike Braun also see privacy as a major concern for CBDCs, even though both countries do not have any definite, immediate plans to launch a CBDC. > * This could also give birth to a system where governments can restrict individuals' or companies' access to the monetary system for any dissent against the government, and combining CBDCs with something like China's social credit system would worsen the already-severe privacy issues in certain countries. > * **Centralisation** > * As opposed to cryptocurrencies, which in most cases are decentralized, CBDCs in their current form are fully controlled by the government or central bank. > * Without decentralization, CBDCs bring back into question many of the problems that cryptocurrencies seek to solve: including double-spending, hackers, and malicious actors. > * Data breaches are also a severe issue: unlike in the cryptocurrency space where a hacker can only gain access to one's funds, with CBDCs they can steal numerous other sensitive details including one's bank details, address, and identity as they will all likely be linked to one's CBDC account. > * **Monetary Policy Concerns** > * While CBDCs will allow governments to collect taxes and track expenditure with ease, they are also a dangerous tool in times of economic concern. > * Take the present day, for instance. Instead of raising the cash rate to decrease expenditure, governments could easily diminish citizens' accounts by a certain amount or vice versa, likely leading to rapid deflation or inflation. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/v2jl0x/general_concepts_cbdc_conarguments_june_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_CBDC) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10vmhhb/daily_general_discussion_february_7_2023_gmt0/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 15:15:41
/r/CryptoCurrency/comments/10wbqsg/bitcoin_briefly_tops_233k_as_fed_chair_powell/j7m56p8/

#CBDC Pro-Arguments Below is an argument written by cryotosensei which won 2nd place in the CBDC Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > The typical retail investor may assume that Central Bank Digital Currencies (CBDCs) are a high-brow concept that is still in the conceptualisation stage and will only take effect in the future. However, according to Atlantic Council, ten countries have fully launched CBDCs, the most prominent of which has to be the digital yuan, also known as e-CNY, that was launched in China and continues to make superb inroads into consumers’ payment habits. The IMF also noted in a speech in February 2022 that about 100 countries are currently exploring CBDCs in one way or another. Hence, CBDCs may well become as ubiquitous as fiat currency. Just what are the advantages of CBDCs? > > 1. CBDCs are backed by the central bank, so they are recognized as legal tender and can be used as a payment app. Besides the peace of mind afforded to citizens, CBDCs come in handy during periods of economic downturns because central banks can deploy them quickly to give out stimulus checks to the lowest-income groups who need government handouts the most. > 2. CBDCs are distributed through commercial banks. This alleviates the problem of too much disruption to the financial system. > 3. CBDCs help unbanked populations get access to money and be included in their nation’s financial systems. Take for instance Jamaica, in which 17% of the population are unbanked. Since mobile phone use in Jamaica is pervasive, the authorities’ launch of a CBDC called Jam-Dex will help unbanked Jamaicans get paid electronically since they can access it via a banking app on their phones. The same can be said of the Bahamas, which launched the Sand Dollar in October 2020 to reach out to its unbanked population. > 4. CBDCs provide cost savings. One reason why Jamaica piloted its Jam-Dex program in the first place was the substantial cost (more than $7 million) incurred in replacing dollar notes of all kinds. Removing all transaction costs problems associated with cash will thus save government agencies and business enterprises money. > 5. CBDCs bolster resilience to the domestic payments market. In China, AliPay and TenPay/WeChat Pay dominate the mobile payments market. Should the private enterprises governing these mobile payments suffer a huge hit to their vitality, the repercussions on the mobile payments system could be far-reaching (and aggravated if there are no safety nets in place). The incorporation of the e-CNY was aimed to act as a backup to AliPay and TenPay/WeChat Pay. > 6. CBDCs facilitate cross-border remittances at a low cost. Cambodia launched its CBDC, Bakong, in October 2020. Since many Cambodians work overseas in Malaysia, the National Bank of Cambodia collaborated with Malaysian commercial bank, Malayan Banking so that Cambodian migrant workers in Malaysia could send money to their loved ones without hassle. > 7. CBDCs act as a safeguard against the illicit use of money. The Bahamas did not have a robust Anti-Money Laundering/Combating Financing of Terrorism framework and was flagged out to undergo extra monitoring under the Financial Action Task Force list in 2018. Following its introduction of the Sand Dollar, the Bahamas was taken off the list in December 2020. > 8. CBDCs is a safer option compared to stablecoins, which are largely unregulated and pose risks to the financial system. The recent collapse of the algorithmic stablecoin, UST underscores this point. > 9. CBDCs ensure monetary sovereignty. Particularly, the United States would be concerned if global citizens start adopting a stablecoin or a foreign CBDC en masse, thus leading to the possibility that the U.S. dollar might not remain the world’s favored payment mechanism. This explains why President Joe Biden signed an executive order in March 2022 that focused on the exploration of a U.S. CBDC. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/v2jkzj/general_concepts_cbdc_proarguments_june_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_CBDC) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 15:15:32
/r/CryptoCurrency/comments/10wbqsg/bitcoin_briefly_tops_233k_as_fed_chair_powell/j7m55wk/

* Relevant Cointest topics: [Ripple](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_ripple), [Stellar](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_stellar), [Tether](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_tether), [Regulation](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_regulation). * Relevant subreddits: r/FederalReserve, r/Ripple, r/Stellar. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/10wbqsg/bitcoin_briefly_tops_233k_as_fed_chair_powell/j7m545b/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 15:15:24
/r/CryptoCurrency/comments/10wbqsg/bitcoin_briefly_tops_233k_as_fed_chair_powell/j7m55v9/

CBDC {{pros}} & {{cons}} and related info are in the collapsed comments below. Pros and cons will change for every new post. Submit a pro/con argument in the [Cointest](https://www.reddit.com/r/CointestOfficial/wiki/cointest_policy) and potentially win [Moons](https://coinmarketcap.com/currencies/moon/). Moon prizes by award for the General Concepts category are: **1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 1000.** --- To submit an CBDC pro-argument, [click here](https://www.reddit.com/r/CointestOfficial/comments/t5mmqi/general_concepts_cbdc_proarguments_march_2022/). | To submit an CBDC con-argument, [click here](https://www.reddit.com/r/CointestOfficial/comments/t5mmr7/general_concepts_cbdc_conarguments_march_2022/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 15:15:23
/r/CryptoCurrency/comments/10wbqsg/bitcoin_briefly_tops_233k_as_fed_chair_powell/j7m550a/

#Bitcoin Pro-Arguments Below is an argument written by Nostalg33k which won 1st place in the Bitcoin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Writing a Pro argument for Bitcoin in 2022 seems complicated because everything has been said... or did it? > > Edit: I have a small bag of Bitcoin currently valued around 600 bucks. I am also invested in crypto around 2000 bucks which are always moving when Bitcoin is moving. Financial disclosure should be mandatory in these arguments =) > > # Bitcoin is the king of POW: Why it matters and why we need a strong Bitcoin > > So as the title suggests it, the recent news from Ethereum switching from POW to POS makes Bitcoin the sole serious POW cryptocurrency. In this write up, we are going to discuss the three main strength of Bitcoin, security, decentralization, and incentive for green energy production. In this write up we are not going to talk about speculation or the financial side of Bitcoin. Bitcoin is a highly liquid asset and has become nearly universally known as an investment. Many arguments have been made in favor of Bitcoin as an investment and if you want to read one, just go to past cointests. > > ​ > > Of course, the main feature of Bitcoin is the Permissionless aspect. This won't be tackled at all as I think it deserves its own topic. > > ​ > > # 1) Bitcoin: High security > > This topic has also been talked to death: Bitcoin is ultra secure thanks to its Blockchain and the way it is verified through proof of work. To explain this let me quote IBM: > > ​ > > >Public blockchain networks typically allow anyone to join and for participants to remain anonymous. A public blockchain uses internet-connected computers to validate transactions and achieve consensus. Bitcoin is probably the most well-known example of a public blockchain, and it achieves consensus through "bitcoin mining." Computers on the bitcoin network, or “miners,” try to solve a complex cryptographic problem to create proof of work and thereby validate the transaction. Outside of public keys, there are few identity and access controls in this type of network. > > > >[IBM on Blockchain security](https://www.ibm.com/topics/blockchain-security) > > ​ > > Mining is measured in Hashrate. Here is the explanation of Hashrate: > > >Hash rate, sometimes referred to as hashrate, is a measure of the computing power on a cryptocurrency network that serves as a key security indicator. It measures the total computational power used by a “proof-of-work” (POW) cryptocurrency network to process transactions in a blockchain. > > > >[USNEWS explains hashrate](https://money.usnews.com/investing/term/hash-rate#:~:text=Hash%20rate%2C%20sometimes%20referred%20to,process%20transactions%20in%20a%20blockchain) > > ​ > > So if the hashrate measures the security of the network, one may asks themselves: "Did the security of Bitcoin slowed when the price fell ?" > > [The hashrate is at an ATH and growing making Bitcoin more and more secure as it continues to build over time](https://ycharts.com/indicators/bitcoin_network_hash_rate#:~:text=Basic%20Info,101.2%25%20from%20one%20year%20ago) > > ​ > > So Bitcoin has never been as secure as it is today which makes it ultra valuable as a way to settle financial transactions. Yes holding Bitcoin for a long time is risky but using it as a medium to settle international transaction may currently be the securest and one of the best way to do so. > > While Bitcoin is safe... what if a big part fails ? > > ​ > > # 2) Bitcoin mining: Too big to fail. > > ​ > > So this write up could be seen as a POW write up, which it is to an extent. But Bitcoin offers its history and shows that it can survive the disparition of a big part of the network. > > Decentralization allows for parts of the network to disappear and for the rest to take the mantle of securing the network. Yes, mining pools may grow too large for their own sake BUT in the end (nothing even matters) Bitcoin is heavily decentralized. It is so decentralized that, when China (which had a big part of Bitcoin mining) banned mining, Bitcoin just went through like nothing happened. Yes the hashrate fell a bit, the value too, but if we look back, it was nothing extraordinary. > > ​ > > So if Bitcoin is highly secure and if it can survive part of the hashrate going bye bye, what makes it so good? What is the difference with any POW Cryptocurrency right now? > > ​ > > # 3) Bitcoin: propping up the green energy sector. > > ​ > > POW uses energy. One of the biggest concern about POW is the energy. While Ethereum was using GPUs and was asic resistant. Bitcoin mining is built differently. A long time ago, under oath, people discussed the environmental impact of Bitcoin Mining and I made a post explaining what was said: > > ​ > > >The Energy Fud Was Killed > > The most important thing that happened: The narrative that Bitcoin is too energy intensive was totally reversed. > > Experts of the sector explained that, Wind Farms and Solar Farms, have a variable load. This variable load means that sometimes they lose money because they produce too much and there is not enough demand. Bitcoin mining provides a variable base load for these projects. What it means is that, mining can be turned on and off depending on demand. It was revealed that most of these wind and solar farms would simply not exist without Bitcoin Farming as baseline customers. > > There are still miners that are using coal plants and fossil fuel but the leaders of the industry are developing in tandem with the green energy sector. > > >[My post](https://www.reddit.com/r/CryptoCurrency/comments/s99phv/yesterday_one_of_the_most_bullish_events_ever/) > > ​ > > # Conclusion: Bitcoin is the flagship of POW and it is a feature not a bug. > > Bitcoin, thanks to its value and tokenomics is seen as a good investment, this is also why miners commit huge amount of ressources to take the hashrate to new heights. These miners help the US grid to become more and more resilient. The future of Crypto and of green energy relies a lot on Bitcoin. Bitcoin has proven time and time again that it can shoulder these changes. Bitcoin is a good piece of technology and I hope people continue to invest in it because it is doing a lot of good for our future ! ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpui9i/top_coins_bitcoin_proarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 15:15:14
/r/CryptoCurrency/comments/10wbqsg/bitcoin_briefly_tops_233k_as_fed_chair_powell/j7m548t/

* Relevant Cointest topics: [Bitcoin Cash](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_bitcoin_cash), [Litecoin](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_litecoin), [Lightning Network](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_lightning_network), [Proof of Work](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_proof-of-work) * Official and related subreddits: r/Bitcoin, r/BitcoinMarkets, r/BitcoinMining, r/BTC, r/BitcoinCash. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/10wbqsg/bitcoin_briefly_tops_233k_as_fed_chair_powell/j7m545b/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 15:15:06
/r/CryptoCurrency/comments/10wbqsg/bitcoin_briefly_tops_233k_as_fed_chair_powell/j7m547o/

Bitcoin [pros](/r/CryptoCurrency/comments/10wbqsg/bitcoin_briefly_tops_233k_as_fed_chair_powell/j7m550a/) & [cons](/r/CryptoCurrency/comments/10wbqsg/bitcoin_briefly_tops_233k_as_fed_chair_powell/j7m55tn/) and related info are in the collapsed comments below. Pros and cons will change for every new post.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 15:15:06
/r/CryptoCurrency/comments/10wbqsg/bitcoin_briefly_tops_233k_as_fed_chair_powell/j7m545b/

Pro & con info are in the collapsed comments below for the following topics: {{top_level_links}}

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 15:15:05
/r/CryptoCurrency/comments/10wadn2/cryptopunk_bored_ape_sell_for_over_1m_each_as_nft/j7ly51z/

#NFT Con-Arguments Below is an argument written by Maleficent_Plankton which won 1st place in the NFT Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > ####**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? [Click here](/r/CointestOfficial/comments/v2jl6x/general_concepts_nft_conarguments_june_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_NFT) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10vmhhb/daily_general_discussion_february_7_2023_gmt0/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 14:30:27
/r/CryptoCurrency/comments/10wadn2/cryptopunk_bored_ape_sell_for_over_1m_each_as_nft/j7ly495/

#NFT Pro-Arguments Below is an argument written by Nostalg33k which won 1st place in the NFT Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > # NFT, the tech that will change the world. > > ​ > > Welcome to this small presentation that will try to explain how NFT is a world changing technology. First of all, I won't discuss the application for the art world because I can't fathom writing an argument trying to defend absurdities and JPEG worth millions. If you want to read my take on this trend, read my con-argument (if I write one). > > ​ > > NFT technology promises to be game changing for multiple reasons. We are going to tackle three main aspects of NFT. The first will be IP and property related. The second will be about exchangeable virtual assets. And the last will be about virtual ID, and administrative documents. > > ​ > > # NFTs and property: the future of property management. > > This argument is an attempt to show how the use-cases of NFTs can improve the world. I don't know if a company is doing what I suggest and I don't have the ability to sell this idea or whatever so you can grab it and develop it. This is clearly what will happen and everyone should be preparing for it: The great migration of property management. > > ​ > > Nowadays, to find who owns which property you need to search for it on a database, often parts of these databases are not online and you need to go to the Town hall or Town archives to find outdated data about someone who died and then search for eventual kids. Lost property through time and administrative black holes are a pain to manage and are often stopping project or not allowing people to get paid when they get expropriated because of some public works. > > Blockchain through the use of NFT can solve this problem. When each property is linked to a token which is turn can be link to biometric data or some kind of secure access, then, property can be moved, traced, and people can offer money for the property without accessing the identity of the owner. This database, through the use of blockchain, would be far more secure than any database we have right now. > > In France, some properties are lost because people can reach the person who is supposed to inherit the property. With a smart system associated to a blockchain, upon the death of anyone, their account would send a smart contract to the owner of the blockchain (the government) which would apply the will of the deceased. The NFTs would then be sent to the next of kin or to the persons supposed to get them. > > Of course, some property would still end up managed by the state if the person doesn't connect to their online space or doesn't connect to any public services. This system is not a question of If but a question of when. This is what NFTs put on the table for classic properties. > > ​ > > For Intellectual properties, right now there are multiple companies which are renewing the intellectual properties for their client in multiple countries. This system is antiquated and blockchain technology promises to crush these companies as soon as blockchain adoption will hit the sector (It is starting to see the light of day through companies and start up). The renewing of the IPs would simply become a smart contract and the payment would be fees in a stablecoin. This would allow a simplification of the whole industry and through the emergence of a global standard, to know which companies can use which IP. > > ​ > > Nfts will also change the entertainment industry through virtual assets. Let's dig in how it can be an opportunity for both consumers and companies. > > # Imagine League of Legend with a secondary market, Renting skins, Selling skins, Exchanging Skins and other cosmetics. > > Nft games tend to be predatory but they don't need to. We need to start to see NFTs as an opportunity to have control on our virtual assets. These assets don't need to be scarce to have value and a secondary market is not a net loss for a company. Let's dig in. This whole part will take League of Legend as an example. You can apply the same thoughts to games with a similar monetization. > > Right now Riot games sells their new skins and then the hype fades and another line of skin is sold. Most skins have fixed prices and unless a temporary promo, they don't tend to change their price point. With a secondary market, Riot could capitalize on the hype cycle by monetizing the perceived value of old skins while collecting data on good pricing for their promos. > > By allowing people to Rent and sell or exchange skins from one another, with a proportional or flat fee paid to riot for maintaining the blockchain and for their profit margins, people would be able to buy the skins they want from people who don't use them anymore. The fact that all transactions are done in a money which is not exchangeable in fiat means that this system would be a closed system. This new service would just mean more use for riot points which could in turn translate to more profits. > > This is a good application of NFTs and we can even imagine a successful implementation while using real crypto-currencies or fiat. > > NFTs allows these properties to be secured and exchanged by smart contracts and, through a good security, to never be lost. > > ​ > > # The biggest change: Data management in governing authorities. > > Lastly, NFTs promise to revolutionize the way countries are managing their data. Just like the management of properties, governmental databases are often old, incomplete and not numerized. The opportunity for NFT technology is enormous. Anyone through their biometrics or other secure way could access all the data collected about them by the state and get a copy of any document any time. The government, when needed, could also find data points about people in a dynamic way. You need data about people aged 50 or more who were born in a state and worked in a specific sector => easy peasy. > > ​ > > The NFT aspect of the tool would be that all the documents would appear in your data wallet and that you could control through smart contracts who gets them. For example, you need an ID to rent some place, just connect to your wallet and send a copy to your landlord. This copy would be a token which would disappear when the landlord would confirm your identity to complete your file or after some time. > > ​ > > The uses and practicality are infinite. > > ​ > > # Conclusion: Nfts are not JPEG, they are a disruptive technology and promise to allow users to simplify their daily lives. > > Through this small argument, I have presented how NFTs are promising to change our world for the better. Each use-case is of course flawed and could be used in malicious ways by governments, YET they all provide utility and would be game changing if applied to their sectors. > > NFT application is not a question. The only question is WHEN. Selling JPEG may have been profitable in the short run but companies managing NFTS at the scale of a government or at the scale of the international regulation of intellectual properties will grow to be multi billion companies. > > Disruption is on the way and a better world is on the way. All thanks to these three letters. > > N F T s > > # ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/v2jl5l/general_concepts_nft_proarguments_june_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_NFT) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 14:30:19
/r/CryptoCurrency/comments/10wadn2/cryptopunk_bored_ape_sell_for_over_1m_each_as_nft/j7ly3bg/

* 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/10wadn2/cryptopunk_bored_ape_sell_for_over_1m_each_as_nft/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 14:30:09
/r/CryptoCurrency/comments/10wadn2/cryptopunk_bored_ape_sell_for_over_1m_each_as_nft/j7ly36x/

NFT {{pros}} & {{cons}} and related info are in the collapsed comments below. Pros and cons will change for every new post. Submit a pro/con argument in the [Cointest](https://www.reddit.com/r/CointestOfficial/wiki/cointest_policy) and potentially win [Moons](https://coinmarketcap.com/currencies/moon/). Moon prizes by award for the General Concepts category are: **1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 1000.** --- To submit an NFT pro-argument, [click here](https://www.reddit.com/r/CointestOfficial/comments/t5mmx5/general_concepts_nft_proarguments_march_2022/). | To submit an NFT con-argument, [click here](https://www.reddit.com/r/CointestOfficial/comments/t5mmxu/general_concepts_nft_conarguments_march_2022/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 14:30:07
/r/CryptoCurrency/comments/10wa5sq/the_future_is_now_why_rcryptocurrency_moons_are/j7lvsxo/

#Moon Con-Arguments Below is an argument written by Laughingboy14 which won 3rd place in the Moon Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Moons are currently hyper-inflationary, with millions more Moons being issued each month. Although they are also dis-inflationary (the rate of inflation decreases by 2.5% each month), this is hardly enough to have a material impact on the rate of inflation. The constant inflation makes Moons a terrible long-term hold, where the owner's ownership % is eroded monthly. > > Reddit as a platform does not want to be investigated by the SEC. Thus far, we have seen Reddit consistently move away from the idea of Moons as a monetary asset/security, and towards the idea of it being purely a governance token. This does not bode well for major CEX listings, which often require working with the token creator for listings. Without a major CEX listing, it is unlikely that sufficient trading liquidity will ever be achieved and so price action will not take off. > > To top it all off, Moons currently have very little in terms of use case. Currently, Moons can be used to purchase Reddit coins, special memberships and can vote in r/cc governance polls. None of these are sufficient use cases to drive exogenous demands for Moons. Sure, some of these use cases marginally increase reasons to hold onto Moons or for r/cc members to spend them, but they are definitely not sufficient to cause members to go out and purchase extra Moons. Especially when one considers that the governance use case is reduced by the idea that you can only ever have the voting power of the Moons that you earned - by buying extra Moons you can never have voting power in excess of earned Moons. Thus, any purchases of Moons are merely speculation on future use cases and future value, which is not a fundamentally sound investment. Combine this with the previous point about Reddit not wanting Moons to be considered a security, it is unlikely that Reddit will provide any truly useful use cases for Moons. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/wdgsuz/coin_inquiries_moons_conarguments_august_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Moons) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10vmhhb/daily_general_discussion_february_7_2023_gmt0/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 14:15:22
/r/CryptoCurrency/comments/10wa5sq/the_future_is_now_why_rcryptocurrency_moons_are/j7lvs2a/

#Moon Pro-Arguments Below is an argument written by Blendzi0r which won 1st place in the Moon Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > *First published on: 14.10.2021* > > *Last edited on: 30.10.2022* > > # What are Moons? > > Moons were [launched by Reddit admins in May 2020](https://np.reddit.com/r/CryptoCurrency/comments/gj96lb/introducing_rcryptocurrency_moons/) on Ethereum under the [Community Points](https://www.reddit.com/community-points/) project. Users earn them by contributing (commenting, posting, taking part in contests, etc.) to r/CryptoCurrency (r/cc) subreddit. Moons represent "a unit of ownership" in the subreddit. More information on them can be found here: [https://www.reddit.com/r/CryptoCurrency/wiki/moons\_wiki](https://www.reddit.com/r/CryptoCurrency/wiki/moons_wiki) > > # What are their pros? > > **THEY CAN BE "EARNED"** > > Moons are unique. They can't be mined and you don't have to buy them in order to own some. All you need is a [reddit account](https://www.reddit.com/register/) and an opened [vault](https://www.reddit.com/community-points/). If your comments or posts are upvoted by other redditors, you will receive Moons when they are distributed. Distributions take place every 4 weeks. You might also be tipped Moons by other users directly and receive them immediately. There are also various competitions where redditors can win Moons (e.g. [Trivia](https://www.youtube.com/watch?v=fV6AMUYz-RY), [Cointest](https://www.reddit.com/r/CointestOfficial/), etc.) > > **THEY GIVE REDDITORS POWER** > > The main purpose of Moons is to use them for **voting in Governance Polls**. These polls are held on r/cc regularly and users vote on proposals submitted by other users or moderators (mods). The more Moons someone has, the greater his/her voting power is. Governance Polls allow Moon holders to push r/cc sub in the direction they believe is best. > > It's worth noting that only Moons that were **earned** can be used for voting. Bought Moons don’t increase user’s voting power. > > **THEY ENGAGE USERS** > > Moons incentivize r/cc subscribers to be active and produce quality content. r/cc is constantly in top 50 subreddits when it comes to [comments per day](https://subredditstats.com). Moons also attract new users – r/cc **is currently the most popular subreddit about crypto** with more than 5.6 million members. This gives Moons exposure to a large public. Other projects usually have to start from the bottom and work their way up before they attract a big number of holders and supporters. > > Moons also incentivize moderators as they receive 10% of the total distribution. Thanks to that, despite the huge number of members, the sub is kept clean. At least most of the time ;-) > > **FIRST MOVER ADVANTAGE** > > The popularity of Moons gives them the first mover advantage ([although they aren't the first Community Points project](https://www.reddit.com/r/ethtrader/comments/kl6ldu\/donuts_faq/)). Even if Reddit launches more Community Points on other subreddits, **Moons have already established their name** (and speaking of names – it’s hard for a better one in the world of cryptocurrencies). > > **REDDIT’S BRANDING AND PROFESSIONAL DEVELOPMENT** > > Moons are developed by a team of professionals hired by Reddit. This makes the project credible and eliminates the risk of a rug pull that is ever-present in the case of many other low market cap projects. > > What’s more, Moons' smart contracts and mobile apps have been also [reviewed and audited by Trail of Bits](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki), an independent security firm. > > Despite being Reddit’s product, Moons are independent of Reddit and once earned neither the admins nor the subreddit moderators can take them away from [users](https://np.reddit.com/r/CryptoCurrency/wiki/moons_wiki). > > **MANY MOONS ARE ALREADY LOST FOREVER** > > Moons that weren’t claimed in time are lost/burned. Moons that were supposed to be delivered to people who didn’t open their vaults are also burned. It is estimated that **more than 50 million Moons are lost.** The number of lost Moons is significant since the number of circulating tokens is only 100 million and the inflation rate goes down by 2.5% with every distribution. > > [35% users who earned karma still didn’t have their vaults set up during the 18th distribution](https://np.reddit.com/r/CryptoCurrency/comments/q3cbfe/comment/hfqztnl/?utm_source=share&utm_medium=web2x&context=3). > > **MOONS ARE ON ETH MAINNET** > > On August 9, 2022, [Moons were moved to mainnet](https://np.https://www.reddit.com/r/CryptoCurrency/comments/wk75p2/pack_your_moons_were_moving_to_mainnet/), to Arbitrum Nova. Before that, Moons were on a testnet (test blockchain) and as the name suggests - they were being tested. And since they are no longer being tested, it means that Moons are now much more reliable, much more secure. What's more, **Moons can now be listed on exchanges** and they are already tradeable on gate.io and MEXC. > > More exchanges are sure to follow, [Kraken has published a crypto guide for Moons](https://www.kraken.com/en-us/learn/what-is-reddit-moon/). This might be significant because there are hundreds of coins with higher market cap but Kraken still decided to publish a guide for Moons instead of those coins. > > **MOONS HAVE A LOT OF POTENTIAL AND POSSIBLE USE-CASES** > > Being a currency of the most popular crypto sub, Moons can find a lot of new use-cases and with their low market cap they have a lot of room for growth. Moons are currently placed outside of top 1,000 coins according to Coingecko which suggests they might be strongly undervalued considering their credibility and exposure. > > Recently, r/cc has started charging Moons for AMAs. Everyone who wants an official AMA on the subreddit has to burn a certain number of tokens. r/cc has probably the biggest auditorium in the whole world of crypto, therefore "ticketing" AMAs is sure to attract many parties which, in consequence, will burn a lot of Moons. > > Moons might be finally accepted by [cyphermarket](https://www.cyphermarket.com/) and people will be able to [buy crypto-related products there directly with Moons](https://np.reddit.com/r/CryptoCurrency/comments/p9zbhg/announcing_rcryptocurrency_merchandise_and_a/). In future, Moons might be used as means of payment in other crypto-related online shops or other businesses. > > Recently, [Reddit auctioned some NFTs](https://nft.reddit.com/#live-auction). One of them was sold for 175 ETH. This might suggest that r/cc will have their own NFTs in the future, too. And if so, they will probably be sold for Moons. > > Admins have also stated that they’re “[working hard to figure out how to grow them even further](https://np.reddit.com/r/CryptoCurrency/comments/opibci/were_launching_a_scaling_network_for_moons/)”. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/wdgt3n/coin_inquiries_moons_proarguments_august_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Moons) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 14:15:13
/r/CryptoCurrency/comments/10wa5sq/the_future_is_now_why_rcryptocurrency_moons_are/j7lvraw/

* Relevant links: r/CryptoCurrencyMoons, [Moons Wiki](https://www.reddit.com/r/CryptoCurrency/wiki/moons_wiki). * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/10wa5sq/the_future_is_now_why_rcryptocurrency_moons_are/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 14:15:05
/r/CryptoCurrency/comments/10wa5sq/the_future_is_now_why_rcryptocurrency_moons_are/j7lvr9l/

Moon [pros](/r/CryptoCurrency/comments/10wa5sq/the_future_is_now_why_rcryptocurrency_moons_are/j7lvs2a/) & [cons](/r/CryptoCurrency/comments/10wa5sq/the_future_is_now_why_rcryptocurrency_moons_are/j7lvsxo/) and related info are in the collapsed comments below. Pros and cons will change for every new post. Submit a pro/con argument in the [Cointest](https://www.reddit.com/r/CointestOfficial/wiki/cointest_policy) and potentially win [Moons](https://coinmarketcap.com/currencies/moon/). Moon prizes by award for the Coin Inquiries category are: **1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 1000.**** --- To submit an Moons pro-argument, [click here](https://www.reddit.com/r/CointestOfficial/comments/sifdzh/coin_inquiries_moons_proarguments_february_2022/). | To submit an Moons con-argument, [click here](https://www.reddit.com/r/CointestOfficial/comments/sife2c/coin_inquiries_moons_conarguments_february_2022/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 14:15:04
/r/CryptoMarkets/comments/10w9e7m/what_is_the_best_signal_to_use_in_tradeview_to/j7lrf41/

#Ethereum Con-Arguments Below is an argument written by Maleficent_Plankton which won 1st place in the Ethereum Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Ethereum has drastically changed in the past year now that it has rebranded itself as **Consensus/Settlement layer** for other Layer 2 Execution/Rollup networks. It is no longer trying to be a monolithic blockchain by itself. Because of this shift in design, many of its former CONs are no longer major issues. And many of the CONs that still exist often have a beneficial sides. > > I discuss the CONs of Ethereum and their impact on its users here: > > ## CONs > > **Gas Fees** (major): > > The biggest complaint for Ethereum is its network gas fees. Every transaction needs gas to pay for storage and processing power, and gas prices vary based on demand. Gas price is very volatile and often changes 2-5x in magnitude within the same day. ERC20 transfers are used for a large percentage of cryptocurrencies, and it's the reason much of DeFi is extremely expensive. If I wanted to send ERC20 tokens between exchanges, it's often cheaper to trade for XRP, ALGO, or some other microtransaction coin, transfer it using their other coin's native network, and then trade back into the original token. Basically: use a coin on a different network to avoid fees. > > Typical transaction fees for Ethereum were [between $2-10 over the past year](https://etherscan.io/chart/avg-txfee-usd), but they have shot up to $50+ several times in 2021. > > And that's just for basic transactions. Anyone who has tried to use more complex smart contracts like moving MATIC from Polygon mainnet back to ETH L1 mainnet during a time of high gas fees mid-year in 2021 saw $100-$200 gas fees. Transferring ERC-20 tokens (often $20-50) is also more gas expensive because it can't be done through native transfers like on the Cardano network. It's impractical to use swaps like Uniswap for small transactions due to these fees. > > In particular, One/Many-to-many batch transactions are extremely gas-expensive using Ethereum's account-based model compared to Bitcoin's and Cardano's UXTO-based model. [This batch transaction on Ethereum](https://etherscan.io/tx/0x0fe2542079644e107cbf13690eb9c2c65963ccb79089ff96bfaf8dced2331c92) cost over $5000 while [a similar eUXTO transaction on Cardano](https://adapools.org/transactions/e586c6340ee9e60a6c64f447feffe5f89bdabc7741666ecaa681081957938f56) only cost $0.50 in fees. > > On the other hand, these fees provide Ethereum long-term economic sustainability and resilience against DDoS and spam attacks. > > **Competition from other Smart Contract networks** (moderate): > > Ethereum has enjoyed its lead as the smart contract blockchain due to first-mover advantage. But there are now many efficient smart contract competitors like Algorand, Solana, and Cardano. Ethereum is now facing much competition. Who wants to pay $20 gas fees on Ethereum when you can get similar transactions for under $0.01 with Algo and Solana or $0.30 transactions with Cardano? > > Fortunately, the amount of competition is limited because Ethereum is positioning itself as a Settlement layer whereas these other networks are monolithic networks. All monolithic networks will eventually run into scaling issues due to long-term storage and bandwidth limits. It will really depend on how successful Ethereum's Layer 2 rollup solutions will be. > > **Future uncertainty about Layer 2 solutions** (major): > > Ethereum's long-term success is dependent on the success of its Layer 2 solutions. > > These Layer 2 solutions are still extremely early. Even after a year, L2 has a very fragmented adoption. The majority of centralized exchanges currently do not support Layer 2 rollup networks. A few have started to support Polygon, which is more of a Layer 2 side-chain that saves state every 256 blocks than a Layer 2 rollup. Very few CEXs allow for direct fiat on/off-ramping on L2 networks, which puts those networks out of reach of most users. > > Many of these Layer 2 networks (Arbitrum, Optimism, Loopring, ZKSync, etc), are not interoperable with each other. You can store your tokens on any specific L2 network, but they're stuck there. If you want to move your tokens back to Layer 1 or to another L2 network, you have to pay very expensive smart contract gas fees ($50-300). Eventually, there will be bridges between these networks, but we could be years away from widespread adoption. > > Fragmented liquidity is another huge issue. Each of these L2 networks has its own liquidity pool for each token it supports. You can store your token on the the L2 network, but you won't be able to trade or swap much if there are no liquidity pools for that token. Eventually, there will be Dynamic Automated Market Makers (dAMMs) that can share liquidity between networks, but they are complex and introduce their own weaknesses. > > Both Optimistic and ZK Rollups are handled off-chain and require a separate network nodes or smart contracts as infrastructure to validate transactions or generate ZK Proofs. They are very centralized in how they operate, so there's always the risk that their network operators could cheat their customers. By now, the community seems to agree that ZK rollups are the future rollup solution to decentralized L2 networks. There is only 1 notable instance of Plasma (Ethereum to Polygon network conversion), and no one uses it anymore since the Ethereum-Polygon bridge is easier to use. The biggest competitor to ZK rollups are Optimistic rollups, and those take too long to settle back to Layer 1 (1 week) and are still too expensive to use (20-50% of the cost of L1 Ethereum gas fees for transfers). > > **ZK Rollups** require special infrastructure to generate ZK Proofs. These are very computationally-expensive, potentially [thousands of times](https://vitalik.ca/general/2021/01/05/rollup.html) more expensive that just doing the computation directly. To reduce the cost, they are done completely-centralized by specialized servers. Thus the cost of a ZK Rollup is cheap at about [$0.10 to $.30](https://l2fees.info/). But even at $0.10 per transfer and $0.50 per swap, these are still at least 10x more expensive than costs on Algorand and Solana. Users will have to decide whether the extra cost and hassle of using an L2 platform is worth the extra security of settling on the more-decentralized and secure Ethereum L1 network. > > **Ethereum Proof-of-Stake merge is arriving later than competitors** (moderate): > > The ETH PoS Beacon chain has been released, it's a completely separate blockchain from ETH and won't merge with the main blockchain [until later this year](https://decrypt.co/78690/ethereum-2-staking-tops-21-billion-merge-horizon), giving its competitors plenty of time to provide FUD. We still don't know how successful the merge will be. Currently, stakes are locked, preventing investors from selling. We don't know what will happen to the price once staking unlocks. > > **MEV and Dark Forest attacks** (minor): > > [MEV](https://np.reddit.com/r/MPlankton/comments/rs4wp2/the_dark_forest_of_cryptocurrency/) is actually a pretty big issue for networks with high gas arbitrage and mempools like Ethereum, but most casual users will never notice hostile arbitrage. When you broadcast your transaction to the network, there are armies of bots and automated miners that analyze your transaction to see if they can perform arbitrage strategies on your transaction such as front-running, sandwiching, excluding transactions, stealing/replaying transactions, and other pure-profit plays. "Dark Forest" attacks have reveled that bots are constantly monitoring the network, and they can front-run you unless you have your own private army of miners. > > **Final Word** > > Overall, I still think the PROs outweigh the CONs for Ethereum in the long-run due to its first-mover advantage and the long-term sustainability of the Ethereum network. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2luf/top_10_ethereum_conarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10vmhhb/daily_general_discussion_february_7_2023_gmt0/).

Commented by /u/CointestMod in /r/CryptoMarkets on February 7, 2023 13:46:43
/r/CryptoMarkets/comments/10w9e7m/what_is_the_best_signal_to_use_in_tradeview_to/j7lreaw/

#Ethereum Pro-Arguments Below is an argument written by Maleficent_Plankton which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > # Background > > Ethereum is a **multi-layer smart contract ecosystem** that is currently migrating from Proof of Work to Proof of Stake: > > * Layer 1 - Consensus/Settlement layer > * Layer 2 - Execution/Rollup layer > > ## PROs > > **First-mover advantage** (major): > > Like Bitcoin, Ethereum enjoys a first-mover advantage. Being around longer than all other smart contract networks gives Ethereum a massive advantage in adoption, which leads to greater decentralization, security, liquidity pools, and app development. Because of the first-mover advantage, Ethereum easily trounces its competitors in security and popularity, and those competitors have little chance of catching up even though their virtual machines are more efficient than EVM. > > **Resilient to spam and Denial-of-Service attacks** (moderate): > > Due to high gas fees on the Ethereum network, it is extremely resistant to DDoS attacks and spam attacks. Ethereum is battle-tested and hasn't sufferred a major DDoS attack since 2016. > > Some of its competitors are still dealing with DDoS attacks. Every time the Solana network goes down from DDoS attacks, which have happened at least 6 times in the past year, there are huge complaints from the crypto community. You need a large amount of memory and bandwidth to keep up with fast networks like Solana. Similarly, Polygon suffered an unintentional DDoS attack from [Sunflower Farmers game](https://www.coindesk.com/tech/2022/01/06/polygon-under-accidental-attack-from-swarm-of-sunflower-farmers/) in Jan 6. For several days, bots ground the network to a halt. > > **Proof of Stake resistant to 51% attacks** (minor): > > * 51% attack (for PoS and PoW) can only revert or censor transactions. [It cannot be used to steal accounts.](https://thedefiant.io/vitalik-eth-cross-chain-bridges-security/). Every transaction has to result in a consistent state. > * With the exception of client bugs that can have unexpected and widespread effects, deterministic PoS networks are very resistant to reorg attacks since they can be immediately detected when a double-spend happens. Bad nodes will be immediately slashed and that double-spend will never go through. > > **Long-term scalability as a settlement layer** (major): > > Ethereum has long-term scalability through Layer 2 rollups. It can offload all its data bloat and computations off-chain. > > Many monolithic blockchains are fine for now, but they eventually all suffer from massive data bloat on their blockchains unless they also offload to Layer 2 solutions. When this happens, they will be playing catch-up with Ethereum. > > **Economic sustainability** (major): > > * Ethereum PoS is one of the ONLY networks that's expected to be deflationary due to its extremely-high fees. Ethereum PoW's amount of inflation is [now offset 35%](https://watchtheburn.com/) in Jun 2022 by the amount burned per transaction from EIP-1559. After the merge, the issuance is expected to drop 80%, making Ethereum PoS the first popular blockchain that will have **supply deflation** and become a positive-sum investment. > * In contrast, many other blockchains have enjoyed lower transaction fees by subsidizing network costs through charging investors with inflation. > * **Polygon PoS** distributes $400M in inflationary rewards annually but only collects $18M in fees. > * **Solana** collects only $40M in fees but gives away 100x that much ($4B) in rewards [[Source](https://polynya.medium.com/why-rollups-data-shards-are-the-only-sustainable-solution-for-high-scalability-c9aabd6fbb48)]. > * **Cardano** rewards stakers from a diminishing rewards pool that is on schedule to drop 90% in 5 years. > * **Bitcoin** pays miners with block subsidies (set to diminish by 99% in 30 years) that are 50-100x bigger than its transaction fees. When their subsidies disappear, unless they have major governance changes, these networks are either going to see much higher fees, or their security is going to decrease drastically. > * **Avalanche** has 10% inflation, and the [burn rate](https://burnedavax.com/) is 100x smaller than the issuance rate. > * **Algorand** pays from a staking reward pool [that disappears in 2030](https://algorand.foundation/governance/algo-dynamics). Its low transaction fees don't cover the cost of paying for validators and relay nodes. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/tuwvz5/top_coins_ethereum_proarguments_april_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoMarkets on February 7, 2023 13:46:34
/r/CryptoMarkets/comments/10w9e7m/what_is_the_best_signal_to_use_in_tradeview_to/j7lrdjj/

* Relevant Cointest topics: [Cardano](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_cardano), [Algorand](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_algorand), [Solana](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_solana), [Polkadot](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_polkadot), [Cosmos](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_cosmos), [Proof of Stake](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_proof-of-stake). * Official and related subreddits: r/Ethereum, r/EthTrader, r/EthStaker, r/Cardano, r/Algorand, r/Solana, r/CosmosNetwork, r/Polkadot, r/Tezos. * Sort comments as controversial first by [clicking here](/r/CryptoMarkets/comments/10w9e7m/what_is_the_best_signal_to_use_in_tradeview_to/j7lrbsl/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoMarkets on February 7, 2023 13:46:26
/r/CryptoMarkets/comments/10w9e7m/what_is_the_best_signal_to_use_in_tradeview_to/j7lrdik/

Ethereum {{pros}} & {{cons}} and related info are in the collapsed comments below. Pros and cons will change for every new post. Submit a pro/con argument in the [Cointest](https://www.reddit.com/r/CointestOfficial/wiki/cointest_policy) and potentially win [Moons](https://coinmarketcap.com/currencies/moon/). Moon prizes by award for the Top Coins category are: **1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 1000.** --- To submit an ETH pro-argument, [click here](https://old.reddit.com/r/CointestOfficial/comments/tuwvz5/top_coins_ethereum_proarguments_april_2022/). | To submit an ETH con-argument, [click here](https://old.reddit.com/r/CointestOfficial/comments/tuww2u/top_coins_ethereum_conarguments_april_2022/).

Commented by /u/CointestMod in /r/CryptoMarkets on February 7, 2023 13:46:25
/r/CryptoMarkets/comments/10w9e7m/what_is_the_best_signal_to_use_in_tradeview_to/j7lrcow/

#Bitcoin Pro-Arguments Below is an argument written by Nostalg33k which won 1st place in the Bitcoin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Writing a Pro argument for Bitcoin in 2022 seems complicated because everything has been said... or did it? > > Edit: I have a small bag of Bitcoin currently valued around 600 bucks. I am also invested in crypto around 2000 bucks which are always moving when Bitcoin is moving. Financial disclosure should be mandatory in these arguments =) > > # Bitcoin is the king of POW: Why it matters and why we need a strong Bitcoin > > So as the title suggests it, the recent news from Ethereum switching from POW to POS makes Bitcoin the sole serious POW cryptocurrency. In this write up, we are going to discuss the three main strength of Bitcoin, security, decentralization, and incentive for green energy production. In this write up we are not going to talk about speculation or the financial side of Bitcoin. Bitcoin is a highly liquid asset and has become nearly universally known as an investment. Many arguments have been made in favor of Bitcoin as an investment and if you want to read one, just go to past cointests. > > ​ > > Of course, the main feature of Bitcoin is the Permissionless aspect. This won't be tackled at all as I think it deserves its own topic. > > ​ > > # 1) Bitcoin: High security > > This topic has also been talked to death: Bitcoin is ultra secure thanks to its Blockchain and the way it is verified through proof of work. To explain this let me quote IBM: > > ​ > > >Public blockchain networks typically allow anyone to join and for participants to remain anonymous. A public blockchain uses internet-connected computers to validate transactions and achieve consensus. Bitcoin is probably the most well-known example of a public blockchain, and it achieves consensus through "bitcoin mining." Computers on the bitcoin network, or “miners,” try to solve a complex cryptographic problem to create proof of work and thereby validate the transaction. Outside of public keys, there are few identity and access controls in this type of network. > > > >[IBM on Blockchain security](https://www.ibm.com/topics/blockchain-security) > > ​ > > Mining is measured in Hashrate. Here is the explanation of Hashrate: > > >Hash rate, sometimes referred to as hashrate, is a measure of the computing power on a cryptocurrency network that serves as a key security indicator. It measures the total computational power used by a “proof-of-work” (POW) cryptocurrency network to process transactions in a blockchain. > > > >[USNEWS explains hashrate](https://money.usnews.com/investing/term/hash-rate#:~:text=Hash%20rate%2C%20sometimes%20referred%20to,process%20transactions%20in%20a%20blockchain) > > ​ > > So if the hashrate measures the security of the network, one may asks themselves: "Did the security of Bitcoin slowed when the price fell ?" > > [The hashrate is at an ATH and growing making Bitcoin more and more secure as it continues to build over time](https://ycharts.com/indicators/bitcoin_network_hash_rate#:~:text=Basic%20Info,101.2%25%20from%20one%20year%20ago) > > ​ > > So Bitcoin has never been as secure as it is today which makes it ultra valuable as a way to settle financial transactions. Yes holding Bitcoin for a long time is risky but using it as a medium to settle international transaction may currently be the securest and one of the best way to do so. > > While Bitcoin is safe... what if a big part fails ? > > ​ > > # 2) Bitcoin mining: Too big to fail. > > ​ > > So this write up could be seen as a POW write up, which it is to an extent. But Bitcoin offers its history and shows that it can survive the disparition of a big part of the network. > > Decentralization allows for parts of the network to disappear and for the rest to take the mantle of securing the network. Yes, mining pools may grow too large for their own sake BUT in the end (nothing even matters) Bitcoin is heavily decentralized. It is so decentralized that, when China (which had a big part of Bitcoin mining) banned mining, Bitcoin just went through like nothing happened. Yes the hashrate fell a bit, the value too, but if we look back, it was nothing extraordinary. > > ​ > > So if Bitcoin is highly secure and if it can survive part of the hashrate going bye bye, what makes it so good? What is the difference with any POW Cryptocurrency right now? > > ​ > > # 3) Bitcoin: propping up the green energy sector. > > ​ > > POW uses energy. One of the biggest concern about POW is the energy. While Ethereum was using GPUs and was asic resistant. Bitcoin mining is built differently. A long time ago, under oath, people discussed the environmental impact of Bitcoin Mining and I made a post explaining what was said: > > ​ > > >The Energy Fud Was Killed > > The most important thing that happened: The narrative that Bitcoin is too energy intensive was totally reversed. > > Experts of the sector explained that, Wind Farms and Solar Farms, have a variable load. This variable load means that sometimes they lose money because they produce too much and there is not enough demand. Bitcoin mining provides a variable base load for these projects. What it means is that, mining can be turned on and off depending on demand. It was revealed that most of these wind and solar farms would simply not exist without Bitcoin Farming as baseline customers. > > There are still miners that are using coal plants and fossil fuel but the leaders of the industry are developing in tandem with the green energy sector. > > >[My post](https://www.reddit.com/r/CryptoCurrency/comments/s99phv/yesterday_one_of_the_most_bullish_events_ever/) > > ​ > > # Conclusion: Bitcoin is the flagship of POW and it is a feature not a bug. > > Bitcoin, thanks to its value and tokenomics is seen as a good investment, this is also why miners commit huge amount of ressources to take the hashrate to new heights. These miners help the US grid to become more and more resilient. The future of Crypto and of green energy relies a lot on Bitcoin. Bitcoin has proven time and time again that it can shoulder these changes. Bitcoin is a good piece of technology and I hope people continue to invest in it because it is doing a lot of good for our future ! ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpui9i/top_coins_bitcoin_proarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoMarkets on February 7, 2023 13:46:16
/r/CryptoMarkets/comments/10w9e7m/what_is_the_best_signal_to_use_in_tradeview_to/j7lrbwo/

* Relevant Cointest topics: [Bitcoin Cash](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_bitcoin_cash), [Litecoin](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_litecoin), [Lightning Network](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_lightning_network), [Proof of Work](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_proof-of-work) * Official and related subreddits: r/Bitcoin, r/BitcoinMarkets, r/BitcoinMining, r/BTC, r/BitcoinCash. * Sort comments as controversial first by [clicking here](/r/CryptoMarkets/comments/10w9e7m/what_is_the_best_signal_to_use_in_tradeview_to/j7lrbsl/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoMarkets on February 7, 2023 13:46:08
/r/CryptoMarkets/comments/10w9e7m/what_is_the_best_signal_to_use_in_tradeview_to/j7lrbsl/

Pro & con info are in the collapsed comments below for the following topics: {{top_level_links}}

Commented by /u/CointestMod in /r/CryptoMarkets on February 7, 2023 13:46:07
/r/CryptoMarkets/comments/10w9e7m/what_is_the_best_signal_to_use_in_tradeview_to/j7lrbvq/

Bitcoin {{pros}} & {{cons}} and related info are in the collapsed comments below. Pros and cons will change for every new post.

Commented by /u/CointestMod in /r/CryptoMarkets on February 7, 2023 13:46:07
/r/CryptoCurrency/comments/10w9jrs/grayscale_continues_to_challenge_sec_for_spot/j7lrazf/

#Regulation Con-Arguments Below is an argument written by noxtrifle which won 1st place in the Regulation Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Government regulation generally refers to the degree of control that government have over something, and in this case, cryptocurrencies. Various countries around the world have mixed regulatory perspectives on cryptocurrencies, and as such have restricted whether its citizens can trade, purchase, or mine cryptocurrencies. However, this restriction of cryptocurrency adoption is not beneficial for investors and companies for several reasons: > > * **Price** > * One of the most obvious arguments against government regulation is that it will inevitably cause crypto prices to decrease, as seen when China announced (several times) its cryptocurrency bans. > * **Sacrifice of Purpose** > * The widespread implementation of government regulations [naturally bring them into the industry](https://amt-lab.org/blog/2022/3/risks-and-regulations-the-good-the-bad-and-the-ugly-of-crypto-space), which goes against the fundamental nature of cryptocurrencies as a means of transacting pseudonymously without regulatory oversight. > * If this purpose is sacrificed in pursuit of a safer space, there may very well be no space left to make safer; as most investors would pull out of cryptocurrencies because there will remain no purpose to stay invested. > * **Banking Restrictions** > * In the worst case scenario where regulation deems cryptocurrencies illegal, third-party providers may be hesitant to provide services such as bank accounts or exchanges if the government is refusing to recognize cryptocurrencies as legal tender. Without these services, investors are unable to easily withdraw or deposit their funds. > * **Reduction in Product Offerings** > * Continuing the worst-case scenario, in a world where tech companies, banks and startups are looking for ways to utilize blockchain technologies, government regulation will force them to alter their products and services in order to continue operating within jurisdictions that have banned cryptocurrency adoption. > * By narrowing down the array of investment options, the flexibility of blockchain technology will be reduced significantly. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/v2jl9o/general_concepts_government_regulation/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_government_regulation) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10vmhhb/daily_general_discussion_february_7_2023_gmt0/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 13:45:58
/r/CryptoCurrency/comments/10w9jrs/grayscale_continues_to_challenge_sec_for_spot/j7lra7a/

#Regulation Pro-Arguments Below is an argument written by Far-Scholar9028 which won 2nd place in the Regulation Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Government Regulation is needed to > > > **Protect retail investors** > > Crypto, at this stage, is full of scams, manipulation, and insider trading. These are a few things that government regulation may help protect the retail investors from. As we know the implosion of Terra, 3ac, Celcius, retail is always hit hardest. > > **Prevent money laundering, tax evasion, sanction evasion** > > Regulation is necessary because criminals use the anonymity of cryptocurrency trading to launder their stolen money. There is concern that cryptocurrencies are being used as a conduit for money from illicit operations or to fund terrorism and evade sanctions. > > **Convince Institutions of cryptos legitimacy** > > Institutional investors, who are subject to stringent compliance and risk management requirements, would gain confidence from regulation. For instance, an institution can become the target of a criminal investigation if it is discovered that it transacted in bitcoin assets that were later linked to unlawful activity. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/v2jl88/general_concepts_government_regulation/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_government_regulation) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 13:45:49
/r/CryptoCurrency/comments/10w9jrs/grayscale_continues_to_challenge_sec_for_spot/j7lr9fa/

* Relevant Cointest topics: [Inflation](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_inflation), [ETF](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_etf). * Relevant subreddits: r/OSHA, r/ModeratePolitics. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/10w9jrs/grayscale_continues_to_challenge_sec_for_spot/j7lr61i/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 13:45:41
/r/CryptoCurrency/comments/10w9jrs/grayscale_continues_to_challenge_sec_for_spot/j7lr9e0/

Government regulation {{pros}} & {{cons}} and related info are in the collapsed comments below. Pros and cons will change for every new post. Submit a pro/con argument in the [Cointest](https://www.reddit.com/r/CointestOfficial/wiki/cointest_policy) and potentially win [Moons](https://coinmarketcap.com/currencies/moon/). Moon prizes by award for the General Concepts category are: **1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 1000.** --- To submit a pro-argument about regulation, [click here](https://www.reddit.com/r/CointestOfficial/comments/t5mn3b/general_concepts_government_regulation/). | To submit a con-argument about regulation, [click here](https://www.reddit.com/r/CointestOfficial/comments/t5mn40/general_concepts_government_regulation/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 13:45:41
/r/CryptoCurrency/comments/10w9jrs/grayscale_continues_to_challenge_sec_for_spot/j7lr9cc/

#ETF Con-Arguments Below is an argument written by Maleficent_Plankton which won 1st place in the ETF Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > This is topic is a bit vague because it doesn't specify whether we're discussing ETFs in general, or crypto ETFs. So I'm dividing my response in 2 parts. > > --------------- > > **ETFs in General**: > > ETFs are bundled funds of many invidual stocks that can be traded as if they were a single stock. There are many different types of ETFs, and they can be active (e.g ARKK, MOON) or passive (e.g. VTI, SPY, VOO). Index ETFs follow index markets and are a simple way for basic investors to buy the equivalent of a bucket of large numbers of stocks without having the complexity of managing each one separately. > > Cons: > > * ETFs have much lower returns than crypto, historically-speaking > * ETFs have management fees that typically range from 0% to 0.5%. Some actively-managed ETFs can go up to 1-2% management fees. > * You cannot directly purchase crypto using ETFs > * ETFs are a boring investments that are no longer technologically innovative. It doesn't make for an exciting conversation. > > --------------- > > **Crypto ETFs** > > There are 3 main categories of crypto ETFs and derivatives: > > * ETFs that invest in DLT/blockchain or mining companies > * Crypto future ETFs > * Crypto trusts, which aren't ETFs but behave similarly > > Cons: > > * There is currently no direct investment in crypto in the US. (Canada has 4 crypto ETFs). Instead, you can buy ETFs in blockchain or mining companies, crypto future ETFs, and crypto trusts. > * Cipherpunks might not like that ETFs are centralized securities controlled by traditional financial organizations > * For Crypto future ETFs still don't exist yet, and we're still [waiting for SEC approval](https://www.coindesk.com/markets/2021/08/05/invesco-files-with-sec-for-bitcoin-strategy-etf/). > * Many of the ETFs that invest in DLT/Blockchain technology companies have a small market cap. The biggest 4 are: BLOK (1.2 B), BLCN (290 M), LEGR (120 M), BITQ (77 M). > * Most of these ETFs that invest in companies have doubled in price in 2-3 years, which is nowhere near the 1000% plus gains from crypto. > * Bitcoin and Ethereum Trusts (Grayscale Ethereum Trust, Grayscale Bitcoin Trust) are Trusts based in Canada, so US investors would need to buy them on over the counter markets. They're an indirect investment in the sense that you're holding a trust, that holds cryptocoins. There are inefficiencies and rebalancing, so you pay a premium for the coins. There's also a high management fee of 2%. > * If you don't want the hassle securing your own coins, why would you want to use an inefficient Grayscale trust with 2% fees and a premium when you can buy crypto on other traditional centralized institutions like PayPal and Robinhood for 1/4 of the fees of Coinbase (non-Pro)? > * You don't get staking or voting rights. > * Most smaller altcoins will never be supported in the future. If you're really interested in a single cryptocoin, an ETF is not the way to invest in that specific coin. > * It's almost certain that no privacy coins will ever be supported > > **Crypto Indexes**: > > * There are also crypto indexes (e.g. Crypto20, DeFi Pulse Index), which are DeFi derivatives similar to stock ETFs > * None of these are as efficient as holding onto their underlying assets due to administration and network fees from periodic rebalancing ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pfoqsv/rcc_cointest_general_concepts_etf_conarguments/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_ETF) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10vmhhb/daily_general_discussion_february_7_2023_gmt0/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 13:45:40
/r/CryptoCurrency/comments/10w9jrs/grayscale_continues_to_challenge_sec_for_spot/j7lr8gh/

#ETF Pro-Arguments Below is an argument written by DaddySkates which won 3rd place in the ETF Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > **ETF and ETF in crypto are essentially the same principle just a different environment. But what does that mean?** > > ​ > > * ETF in crypto means the same as ETF in finances so you are investing into a crypto projects or mining projects but at the same time it allows you far greater spread of funds and diversity in investing. > > ​ > > * This means that ETF is eligible for tax exempt and that on it's own is a massive benefit for investors in countries that are heavily tax regulated such as US. > > ​ > > * Additionally, ETFs enable great diversification even to investors who have little to no knowledge about cryptocurrencies and it's projects. And for beginners, having less issues with taxes is a god sent. > > ​ > > * That makes ETF very simple to buy and deal with and include it into peoples saving plans or retirement plans without too much hassle and well established taxation rules. > > ​ > > * Since ETFs are being managed by industry and investment companies, these can give investors greater security and reduce risks in investment to crypto markets. In addition, beginners are prone to getting scammed in crypto so ETFs can be a very good way of dipping their toes into the industry without many of the risks that come with it. ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pfoq7s/rcc_cointest_general_concepts_etf_proarguments/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_ETF) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 13:45:31
/r/CryptoCurrency/comments/10w9jrs/grayscale_continues_to_challenge_sec_for_spot/j7lr7po/

* Relevant Cointest topics: [Regulation](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_regulation). * Related subreddits: r/Investing, r/SecurityAnalysis, r/Finance, r/Stocks, r/SuperStonk. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/10w9jrs/grayscale_continues_to_challenge_sec_for_spot/j7lr61i/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 13:45:23
/r/CryptoCurrency/comments/10w9jrs/grayscale_continues_to_challenge_sec_for_spot/j7lr7og/

ETF {{pros}} & {{cons}} and related info are in the collapsed comments below. Pros and cons will change for every new post.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 13:45:22
/r/CryptoCurrency/comments/10w9jrs/grayscale_continues_to_challenge_sec_for_spot/j7lr6ug/

#Bitcoin Pro-Arguments Below is an argument written by Far-Scholar9028 which won 3rd place in the Bitcoin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Understanding the benefits and drawbacks of the bitcoin blockchain is essential if you're considering investing in bitcoin. Let's start off with the positives of BTC. > > **21 Million Fixed Supply** > > Bitcoin cannot be printed by governments at will, unlike fiat money like the US dollar. There are only a total of 21 million bitcoins in existence. An estimated 3.7 million bitcoins have been lost, which means they will never be found without the private key. Citizens all over the world are using bitcoin as an inflation hedge due to the continued money creation by central banks around the world. > > **Decentralization** > > The ability to conduct financial transactions without a third-party intermediary watching over the transaction is referred to as decentralization. The nodes, or individual computers that make up the Bitcoin network, are numerous. Decentralization is crucial because it precludes an attack on a single point of failure, making it nearly impossible for any government or organization to bring down the BTC network. > > **25/7/365** > > Bitcoin doesn't have afternoon or weekend closing times like conventional financial markets do. Bitcoin can be traded 365 days a year, around the clock. Furthermore, sending bitcoin is quicker than making a bank transfer. The Bitcoin network is accessible to everyone. It is an open peer-to-peer network that everyone can utilize, regardless of where they reside or how much money they have. > > **Self Custody** > > Self-custody is vital for cryptocurrencies like bitcoin. You don't have to rely on a single corporation, a bank, or legal documents to acquire full ownership of your possessions. In nations around the world with weak property rights, this has a huge impact and gives people more power and control over their finances. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpui9i/top_coins_bitcoin_proarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 13:45:13
/r/CryptoCurrency/comments/10w9jrs/grayscale_continues_to_challenge_sec_for_spot/j7lr63o/

Bitcoin [pros](/r/CryptoCurrency/comments/10w9jrs/grayscale_continues_to_challenge_sec_for_spot/j7lr6ug/) & [cons](/r/CryptoCurrency/comments/10w9jrs/grayscale_continues_to_challenge_sec_for_spot/j7lr7mq/) and related info are in the collapsed comments below. Pros and cons will change for every new post.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 13:45:05
/r/CryptoCurrency/comments/10w9jrs/grayscale_continues_to_challenge_sec_for_spot/j7lr64r/

* Relevant Cointest topics: [Bitcoin Cash](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_bitcoin_cash), [Litecoin](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_litecoin), [Lightning Network](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_lightning_network), [Proof of Work](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_proof-of-work) * Official and related subreddits: r/Bitcoin, r/BitcoinMarkets, r/BitcoinMining, r/BTC, r/BitcoinCash. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/10w9jrs/grayscale_continues_to_challenge_sec_for_spot/j7lr61i/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 13:45:05
/r/CryptoCurrency/comments/10w9jrs/grayscale_continues_to_challenge_sec_for_spot/j7lr61i/

Pro & con info are in the collapsed comments below for the following topics: {{top_level_links}}

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 13:45:04
/r/CryptoCurrency/comments/10w86q1/reddit_adds_4_million_newly_minted_polygonbased/j7lmoez/

#Polygon Con-Arguments Below is an argument written by MalletSwinging which won 2nd place in the Polygon Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Polygon is a layer 2 scaling solution for Ethereum that grossly reduces gas prices. It does so, however, at some costs which I believe will not make it a good long term play. > > The first issue with MATIC is ease of use. There is one CEX (gate.io) that allows MATIC withdrawals onto the Polygon network. I actually think binance.com might allow this too, but as an American I can only use binance.us which does NOT allow Polygon withdrawals. Gate.io is not a user friendly exchange which means that anyone using it is likely experienced in crypto. > > New users or first time Metamask users will need to learn to navigate the Plasma bridge which can be both daunting and expensive if you make mistakes. For this reason adoption will stagnate. > > The second issue with MATIC is centralization. According to this article ([https://gettotext.com/polygon-centralized-the-largest-wallets-hold-the-majority-of-the-matic-supply/](https://gettotext.com/polygon-centralized-the-largest-wallets-hold-the-majority-of-the-matic-supply/)) the top 10 addresses hold over 75% of the total supply. That is truly shocking. Is it worth giving up the decentralized aspect of crypto for some gas savings on a poorly designed layer 1 network with bad scalability (Ethereum)? I argue that it is not. > > The final argument against MATIC is more of an argument against its parent chain, Ethereum. Ethereum is currently the most integrated solution in terms of quantity of dapps and DAOs but that is not guaranteed to last forever. In fact, many other networks currently available put most of Ethereum's features to shame. This is simply because Ethereum is a second gen blockchain and newer chains have had ample time and opportunity to address Ethereum's shortcomings. However, Polygon is a scaling solution for Ethereum only and if Ethereum loses market share (which it will regardless of its status as the most adopted smart contract-enabled layer one blockchain) Polygon's usefulness and value will decline. There are too many good alternatives for an expensive and slow chain like Ethereum to maintain its dominance. > > Disclosure: I hold quite a bit of MATIC. Not enough to put me in the top 10, but close (ok not close but I hold a non-zero amount.) I also hold a decent amount of Ethereum which probably makes zero sense to someone reading this argument. I am short term bullish on the usefulness of both networks but I believe they will be replaced long term by more efficient and less expensive networks. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/qk4yk4/coin_inquiries_round_polygon_conarguments_november/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Polygon) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10vmhhb/daily_general_discussion_february_7_2023_gmt0/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 13:16:03
/r/CryptoCurrency/comments/10w86q1/reddit_adds_4_million_newly_minted_polygonbased/j7lmniy/

#Polygon Pro-Arguments Below is an argument written by Maleficent_Plankton which won 1st place in the Polygon Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > **Background - Polygon is many-sided**. There's the main Polygon PoS network that acts as a sidechain to Ethereum, and then there are so many side projects, many of which deal with Layer 2: > > - MATIC: The main Polygon token, which is present on multiple networks > - Polygon PoS: The main Ethereum side-chain network that most are familiar with. It saves checkpoint state on the Ethereum network every [256 blocks (5 minutes)](https://research.binance.com/en/projects/matic-network). > - Polygon [Hermez](https://docs.hermez.io/#start-here-for-hermez-10-documentation): ZK-rollup Ethereum Layer 2 > - Polygon [Zero](https://blog.polygon.technology/introducing-plonky2/): A fast ZK-stark/ZK-snark hybrid solution built on the Plonky2 protocol. It proofs are theoretically [100x faster than current ZK proof calculations](https://blog.polygon.technology/zkverse-polygons-zero-knowledge-strategy-explained/). > - Polygon [Miden](https://blog.polygon.technology/polygon-announces-polygon-miden-a-stark-based-ethereum-compatible-rollup/): Stark-based ZK-rollup Ethereum layer 2 > - Polygon [Nightfall](https://blog.polygon.technology/zk-proofs-protocol-polygon-nightfall-launches-on-testnet-to-provide-low-cost-private-ethereum-transaction/): Enterprise version of Polygon that uses "ZK-Optimistic Rollups" (ZK proof for privacy and optimistic-rollup for scalability) > - Polygon Avail: Standalone network or side-chain solution > - Polygon Plasma Bridge: A legacy bridge that shouldn't be used anymore. > > This post will mainly focus on the Polygon PoS network. > > ------------------ > > **PROs** > > **Much faster and cheaper to use than Layer 1 Ethereum** > > The main benefit of using the Polygon PoS network is that it's an Ethereum side chain that provides faster and cheapers transactions for Ethereum tokens. It can process 1K-10K TPS with a [2-second average block time](https://polygonscan.com/chart/blocktime), which also has deterministic finality. The base fee is only 30 Gwei, and the total transaction fees hovers between [$0.1 to $0.5 USD](https://polygonscan.com/chart/transactionfee) (~4M transactions, ~30k total MATIC fees per day). > > This is also much cheaper than [optimistic rollups](https://l2fees.info/). > > **Largest Layer 2 network adoption** > > Among all the Layer 2 Ethereum solutions, Polygon PoS is completely ahead of every other competitor in terms total locked value with a [$4.8B USD market cap](https://defillama.com/chain/Polygon) (Jan 2021), compared to [$5.4 USD **Combined** Total Locked Value (TLV)](https://l2beat.com/) for the next 10 largest Layer 2 rollup solutions. Note that this does not include the $12B market cap of the MATIC token since that's a coin/token on multiple networks. DeFi support for Polygon is massive. > > One of the main issues with Layer 2 is that most are currently walled gardens with lackluster CEX/CeFi support for on/offramps. After all, the main benefit of lower fees on Layer 2 is lost if you can't on/offramp directly. Polygon is also ahead of competition here with support from Crypto_dot_com, Nexo, Binance (international), and Kucoin. Celsius Network will also have support mid-February. > > Polygon PoS is the only other large network besides Ethereum currently [https://support.opensea.io/hc/en-us/articles/4404027708051-Which-blockchains-does-OpenSea-support-](supported on OpenSea). > > **Weak competition** > > There are so many Ethereum Layer 2 competitors, but nearly all of them are rollups. Polygon PoS works differently in that it's a separate network where the state of the network is stored on Ethereum every 256 blocks. Thus, it doesn't directly compete with them. > > In addition, it also doesn't compete directly with Ethereum killers (ALGO, SOL, ETH, ADA, EGLD, etc.) in that it's designed as a side chain specifically for Ethereum. It shares popularity and as Ethereum grows. > > **Shares Ethereum developer tools** > > Polygon and Ethereum share similar EVM development tools (including Solidity and Vyper), so it's easy for Ethereum's large number of devs to develop for Polygon. > > Many Layer 2 rollups have yet to roll out EVM support while Polygon PoS is already battle-tested. > > **Abundance of research** > > For better or worse, Polygon is working on multiple Layer 2 solutions and constantly researching different protocols. Polygon Zero in particular provides [extremely-fast ZK proofs](https://blog.polygon.technology/zkverse-polygons-zero-knowledge-strategy-explained/), and its technology might become the future leader for ZK rollups. > > ------------------ > > Disclaimer: I currently do not own any MATIC. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/qk4yjj/coin_inquiries_round_polygon_proarguments_november/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Polygon) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 13:15:53
/r/CryptoCurrency/comments/10w86q1/reddit_adds_4_million_newly_minted_polygonbased/j7lmmqn/

Polygon {{pros}} & {{cons}} and related info are in the collapsed comments below. Pros and cons will change for every new post.Submit an argument in the [Cointest](https://www.reddit.com/r/CointestOfficial/wiki/cointest_policy) and potentially win [Moons](https://coinmarketcap.com/currencies/moon/). **Moon prizes by award for the Coin Inquiries category are: **1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 1000.** --- To submit an MATIC pro-argument, [click here](https://www.reddit.com/r/CointestOfficial/comments/sife7l/coin_inquiries_polygon_proarguments_february_2022/). | To submit an MATIC con-argument, [click here](https://www.reddit.com/r/CointestOfficial/comments/sifeam/coin_inquiries_polygon_conarguments_february_2022/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 13:15:44
/r/CryptoCurrency/comments/10w86q1/reddit_adds_4_million_newly_minted_polygonbased/j7lmms2/

* Relevant Cointest topics: [Loopring](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_loopring), [Ethereum](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_ethereum). * Official or related subreddits: r/0xPolygon, r/Loopringorg, r/Arbitrum, r/MakerDAO, r/Ethereum. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/10w86q1/reddit_adds_4_million_newly_minted_polygonbased/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 13:15:44
/r/CryptoCurrency/comments/10w8fhw/crypto_mom_hester_peirce_sec_disappoints_when_it/j7lmmmf/

#Regulation Con-Arguments Below is an argument written by Far-Scholar9028 which won 2nd place in the Regulation Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Government Regulation > > > **The opposite of what crypto stands for** > > Crypto deprives the banks and companies of their authority and gives people the freedom to manage their finances independently. Regulation runs counter to this notion. > > **Negatively affect prices** > > Prices would probably decrease instantly in the short term as a result of tougher control, in part because so many people are afraid of it. In the world of cryptocurrencies, regulation itself has taken on a certain specter. > > **Kills Innovation** > > The adaptable fundraising models are the reason the sector is flourishing. Companies that use cryptocurrencies have been able to raise money fast without being constrained by onerous security regulations. Additionally, small-scale investors have had access to projects that they otherwise would not have had. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/v2jl9o/general_concepts_government_regulation/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_government_regulation) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10vmhhb/daily_general_discussion_february_7_2023_gmt0/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 13:15:43
/r/CryptoCurrency/comments/10w8fhw/crypto_mom_hester_peirce_sec_disappoints_when_it/j7lmlsu/

#Regulation Pro-Arguments Below is an argument written by noxtrifle which won 1st place in the Regulation Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Government regulation generally refers to the degree of control that government have over something, and in this case, cryptocurrencies. Various countries around the world have mixed regulatory perspectives on cryptocurrencies, and as such have restricted whether its citizens can trade, purchase, or mine cryptocurrencies. However, regulation is beneficial for a number of reasons: > > * **Safer market for investors** > * Described as the "Wild West" by SEC Chairman Gary Gensler, the cryptocurrency space, due to a lack of regulation which makes it a trivial task to create a project, is full of thousands of fraudulent tokens and pyramid schemes (case in point: BitConnect, while it still existed) and burgeoning projects that never come to fruition. > * [Last year alone](https://blog.chainalysis.com/reports/2022-crypto-crime-report-introduction/), over $7 billion was swindled out of cryptocurrency investors, a figure which is $2.8 billion larger than that of 2020. > * With the added regulation that may require new tokens to dox the founders and file ICOs or launches similarly to the way IPOs are documented in the stock market, another level of accountability is created that makes it near-impossible for a rugpull or Ponzi scheme to occur. > * **Increased investor confidence** > * Currently, a significant barrier to mainstream cryptocurrency is the lack of regulation in the space — without concrete legislation in place to ensure safety, most companies, and by extension, people, will be unwilling to adopt cryptocurrencies. > * In a situation where their funds in the bank are backed by the government but their cryptocurrency is not, it currently makes no sense for companies to choose cryptocurrencies over traditional banking systems. > * **Encourages innovation** > * If each country implements crypto regulation that servers to boost it as an alternative financial method rather than stifle it, several regulatory barriers can be broken (case in point: the long-awaited Grayscale Bitcoin ETF) ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/v2jl88/general_concepts_government_regulation/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_government_regulation) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 13:15:34
/r/CryptoCurrency/comments/10w8fhw/crypto_mom_hester_peirce_sec_disappoints_when_it/j7lml45/

* Relevant Cointest topics: [Inflation](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_inflation), [ETF](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_etf). * Relevant subreddits: r/OSHA, r/ModeratePolitics. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/10w8fhw/crypto_mom_hester_peirce_sec_disappoints_when_it/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 13:15:26
/r/CryptoCurrency/comments/10w8fhw/crypto_mom_hester_peirce_sec_disappoints_when_it/j7lml2h/

Government regulation {{pros}} & {{cons}} and related info are in the collapsed comments below. Pros and cons will change for every new post. Submit a pro/con argument in the [Cointest](https://www.reddit.com/r/CointestOfficial/wiki/cointest_policy) and potentially win [Moons](https://coinmarketcap.com/currencies/moon/). Moon prizes by award for the General Concepts category are: **1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 1000.** --- To submit a pro-argument about regulation, [click here](https://www.reddit.com/r/CointestOfficial/comments/t5mn3b/general_concepts_government_regulation/). | To submit a con-argument about regulation, [click here](https://www.reddit.com/r/CointestOfficial/comments/t5mn40/general_concepts_government_regulation/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 13:15:25
/r/CryptoCurrency/comments/10w8jvi/bitcoin_rises_to_233k_as_powell_repeats/j7lmk4a/

#Bitcoin Pro-Arguments Below is an argument written by Maleficent_Plankton which won 2nd place in the Bitcoin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > ##**Main PROs** > > Bitcoin is currently the most popular cryptocurrency and marketcap leader. Among all the cryptocurrencies, it's the one your grandma would most likely have heard of. This is mainly due to its first-mover advantage coupled with the network effect. And since cryptocurrency value is largely based on a Keynesian Beauty Contest, it's likely to remain the most popular for years to come. > > **First-Mover Advantage**: This gave Bitcoin a huge head start over its competitors despite that it's technologically behind. If Bitcoin, Bitcoin Cash, and Litecoin were all released simultaneously, Bitcoin would lose to its competitors because its competitors have much more efficient designs with higher throughput. There are many newer networks that have 10-100x Bitcoin's throughput and have 100x cheaper fees. But the reality is that Bitcoin's first-mover advantage gave it such a huge head start that the others can't catch up. > > **The Network Effect**: This means that people will flock to whichever product has the largest user base. Whenever people first invest in cryptocurrency, they notice Bitcoin first because it's the largest and most popular. For half a decade, its name was almost synonymous with cryptocurrency. The network effect creates a positive feedback loop and makes Bitcoin's lead grow even more. Its block subsidy is also the highest, which attracts miners, thus increasing its security. > > **Anti-censorship**: Bitcoin provides partial financial 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. For example, many Russians, Iranian, and North Koreans are getting around sanctions by using Bitcoin and mixers. Legal sex workers and marijuana industries are sometimes blocked from using traditional financial services due to social stigma. Bitcoin provides those workers a way to transfer funds that censorship. > > **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. > > **Cannot be counterfeited**: Cash can be counterfeited, but you can't fake transactions or UTXOs. > > **Considered a commodity**: Bitcoin is the only cryptocurrency that both the SEC and CFTC have openly stated is likely a commodity, so it has a low chance of being subjected to future securities regulations. > > ##**The Bitcoin Narratives and the Knowledge Gap** > > There are so many Bitcoin Maxis who will ignore logic and keep spreading Pro-Bitcoin Narratives of questionable 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. Those who aren't technical will believe them without digging deeper. (Sadly, I may have spread a couple of these myself not that long ago.) Thus, Bitcoin tends to cult-ivate a community of block-headed maximalists who are willing to shill and meme Bitcoin all day long. > > **Here's a list of popular but questionable Bitcoin Narratives.** Regardless of whether these are accurate, they will keep spreading and contributing to Bitcoin's popularity and network effect. > > * **Maximum Supply cap guarantees scarcity and that price will keep increasing**: Bitcoin has a supply cap of 2.1 Million Bitcoins, so it's deflationary and will keep going up in price. > * **Reality**: Bitcoin is actually inflationary, albeit disinflationary, until 2140. Scarcity is questionable because it can always fork, and there are competing blockchains. There is no guarantee that price will keep going up. The maximum supply cap is also a double-edged sword since mining rewards aren't guaranteed, and Bitcoin's security will likely decline greatly decades from now. > * **Bitcoin is an Inflation Hedge** > * **Reality**: When inflation rose in 2022, Bitcoin plunged in price, proving that it's not a good inflation hedge. Instead, it tends to go up and down with the stock market, but with higher volatility. > * **Bitcoin is a great Store of Value (i.e. Digital gold)** > * **Reality**: Bitcoin's price is too volatile to make it a good Store of Value. > * **All altcoins are shitcoins**: Altcoins will never beat Bitcoin and always fail. Bitcoin has survived multiple hard forks, bug fixes, country-wide bans, and 80-90% value crashes ... unlike most altcoins. > * **Reality**: Altcoins fall harder during bear markets, but they also rise more during bull markets. The better ones also have better protocol designs than Bitcoin. Eventually, one of them could even dethrone Bitcoin. > * **UTXO batch transactions**: Bitcoin can natively batch UTXO transactions to increase to effective throughput beyond TPS. > * **Reality**: While it's true that batch transactions increase effective transfers, they only do so by a maximum of 70%, increasing effective throughput from 3 transfers/s to 5 transfers/s. There is a 40% savings in storage space, and 75% savings in fees [[Source](https://blog.coinbase.com/reflections-on-bitcoin-transaction-batching-b13dad12a12)]. Also note that account-based smart contracts can save similar amounts of storage and fees, so this isn't unique to Bitcoin. > * **The Lightning Network can scale Bitcoin to the global population**: The Lightning Network can greatly scale Bitcoin and enable fast peer-to-peer transactions. > * **But**: It can't scale well past 1% of the global population since users are expected to open and close channel regularly. And if 10% of the global population uses the Lightning Network, they can only open and close channels once every 8 years on average due to congestion on Layer 1. The only way to get around this is if everyone only interacts on centralized exchanges without touching the network itself. > * **Decentralization**: Bitcoin is the most decentralized cryptocurrency because it has the highest Nakamoto Coefficient when measured by individual miners. > * **Reality**: The top 3 mining pools own 60% of the network hash rate, and the true coefficient is just 3. > * **Fair launch**: Bitcoin had a fair launch. First the first couple of years, anyone had to work for their Bitcoins. There was no ICO. > * **But**: There were only ~100 miners the first several years, and that they mined out the vast majority of all Bitcoins and got a huge advantage over everyone else. > > If these are flawed arguments, why am I even listing them as Pros? **To show that even if these narratives are questionable, there are so many of them, and they will keep spreading.** For each person who realizes their flaws, two more newbies who don't bother with research will gobble them up. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpui9i/top_coins_bitcoin_proarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 13:15:15
/r/CryptoCurrency/comments/10w8jvi/bitcoin_rises_to_233k_as_powell_repeats/j7lmj6t/

* Relevant Cointest topics: [Bitcoin Cash](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_bitcoin_cash), [Litecoin](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_litecoin), [Lightning Network](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_lightning_network), [Proof of Work](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_proof-of-work) * Official and related subreddits: r/Bitcoin, r/BitcoinMarkets, r/BitcoinMining, r/BTC, r/BitcoinCash. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/10w8jvi/bitcoin_rises_to_233k_as_powell_repeats/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 13:15:06
/r/CryptoCurrency/comments/10w8jvi/bitcoin_rises_to_233k_as_powell_repeats/j7lmj5l/

Bitcoin {{pros}} & {{cons}} and related info are in the collapsed comments below. Pros and cons will change for every new post.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 13:15:05
/r/CryptoCurrency/comments/10w7nba/live_jerome_powell_speaks_on_inflation_the_us/j7li2bb/

#Inflation Con-Arguments Below is an argument written by TheTrueBlueTJ which won 2nd place in the Inflation Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > # Intro > > Inflation is a big deal for traditional currencies as well as cryptocurrencies. This comment will just deal with the topic of inflation, not with deflation as well. Here is my con argument against inflation. > > # Arguments > > - In my previous [pro-comment](https://www.reddit.com/r/CointestOfficial/comments/t5mmvx/comment/i9bpzyu\/?utm_source=share&utm_medium=web2x&context=3), I said that inflation makes it so that people are encouraged to spend and therefore kick off a cycle where their wages should be increasing as well, since companies are going to generally make more money than they did before. So they would be growing, essentially. However, in reality, [salaries do not increase proportionally with inflation](https://www.forbes.com/sites/johnbremen/2022/04/07/why-salary-increases-do-not-keep-pace-with-inflation/). The link between salaries and profits for the company are not always linked so closely. The article argues that wages are sticky. It does make sense that wages do not go up and down all the time, especially for existing contracts. I would argue that many workers do not actively ask for a raise or have a scheduled raise each year. Therefore I think that inflation fails in this regard, due to the complexity of society and the working culture. Inflation doesn't "equalize" through wage increases. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/t5mmwi/general_concepts_monetary_inflation_conarguments/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_monetary_inflation) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10vmhhb/daily_general_discussion_february_7_2023_gmt0/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 12:46:01
/r/CryptoCurrency/comments/10w7nba/live_jerome_powell_speaks_on_inflation_the_us/j7li1j9/

#Inflation Pro-Arguments Below is an argument written by a deleted user which won 3rd place in the Inflation Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > [deleted] ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pfpmep/rcc_cointest_general_concepts_inflation/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_monetary_inflation) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 12:45:52
/r/CryptoCurrency/comments/10w7nba/live_jerome_powell_speaks_on_inflation_the_us/j7li0rv/

* Relevant Cointest topics: [CDBC](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_cbdc), [Regulation](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_regulation). * Related subreddits: r/Inflation, r/Economics, r/Economy, r/AskEconomics, r/EconomicHistory, r/Austrian_Economics. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/10w7nba/live_jerome_powell_speaks_on_inflation_the_us/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 12:45:45
/r/CryptoCurrency/comments/10w7nba/live_jerome_powell_speaks_on_inflation_the_us/j7li0qf/

Inflation {{pros}} & {{cons}} and related info are in the collapsed comments below. Pros and cons will change for every new post. Submit a pro/con argument in the [Cointest](https://www.reddit.com/r/CointestOfficial/wiki/cointest_policy) and potentially win [Moons](https://coinmarketcap.com/currencies/moon/). Moon prizes by award for the General Concepts category are: **1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 1000.** --- To submit a pro-argument about inflation, [click here](https://www.reddit.com/r/CointestOfficial/comments/t5mmvx/general_concepts_monetary_inflation_proarguments/). | To submit a con-argument about inflation, [click here](https://www.reddit.com/r/CointestOfficial/comments/t5mmwi/general_concepts_monetary_inflation_conarguments/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 12:45:44
/r/CryptoCurrency/comments/10w7ng0/sec_warns_that_retirement_accounts_crypto_stakes/j7li0mo/

#Regulation Con-Arguments Below is an argument written by Far-Scholar9028 which won 2nd place in the Regulation Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Government Regulation > > > **The opposite of what crypto stands for** > > Crypto deprives the banks and companies of their authority and gives people the freedom to manage their finances independently. Regulation runs counter to this notion. > > **Negatively affect prices** > > Prices would probably decrease instantly in the short term as a result of tougher control, in part because so many people are afraid of it. In the world of cryptocurrencies, regulation itself has taken on a certain specter. > > **Kills Innovation** > > The adaptable fundraising models are the reason the sector is flourishing. Companies that use cryptocurrencies have been able to raise money fast without being constrained by onerous security regulations. Additionally, small-scale investors have had access to projects that they otherwise would not have had. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/v2jl9o/general_concepts_government_regulation/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_government_regulation) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10vmhhb/daily_general_discussion_february_7_2023_gmt0/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 12:45:43
/r/CryptoCurrency/comments/10w7ng0/sec_warns_that_retirement_accounts_crypto_stakes/j7lhzti/

#Regulation Pro-Arguments Below is an argument written by Laughingboy14 which won 3rd place in the Regulation Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Crypto is currently a lawless wild west. In the last year alone, we have seen Luna's spectacular collapse, multiple bankruptcies, and countless scams. This, among other reasons, is a product of a lack of regulation. If anyone can create a project, the project can be entitled anything and promise the world, it leaves the potential for scams and nefarious entities. This ultimately is a hindrance to adoption. The non-crypto-enthusiast sees these scams and lack of regulation and is put off crypto. > > Note, government regulation does not need to be stifling. Government regulation can be, in the right hands, a needed guiding hand to aid the crypto market. It will provide reassurances to the masses, reduce the number of bad actors in the space, and reduce the chances of you losing your hard earned crypto. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/v2jl88/general_concepts_government_regulation/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_government_regulation) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 12:45:34
/r/CryptoCurrency/comments/10w7ng0/sec_warns_that_retirement_accounts_crypto_stakes/j7lhz1a/

* Relevant Cointest topics: [Inflation](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_inflation), [ETF](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_etf). * Relevant subreddits: r/OSHA, r/ModeratePolitics. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/10w7ng0/sec_warns_that_retirement_accounts_crypto_stakes/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 12:45:26
/r/CryptoCurrency/comments/10w7ng0/sec_warns_that_retirement_accounts_crypto_stakes/j7lhywt/

Government regulation {{pros}} & {{cons}} and related info are in the collapsed comments below. Pros and cons will change for every new post. Submit a pro/con argument in the [Cointest](https://www.reddit.com/r/CointestOfficial/wiki/cointest_policy) and potentially win [Moons](https://coinmarketcap.com/currencies/moon/). Moon prizes by award for the General Concepts category are: **1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 1000.** --- To submit a pro-argument about regulation, [click here](https://www.reddit.com/r/CointestOfficial/comments/t5mn3b/general_concepts_government_regulation/). | To submit a con-argument about regulation, [click here](https://www.reddit.com/r/CointestOfficial/comments/t5mn40/general_concepts_government_regulation/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 12:45:25
/r/CryptoCurrency/comments/10w7yco/revolutionizing_publishing_fiu_student_publishes/j7lhysx/

#Litecoin Con-Arguments Below is an argument written by metnavman which won 1st place in the Litecoin Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > *Full Disclosure* > > *I sold my position in LTC this year during the last run-up to the ~$300s. Prior to that, I'd held a triple-digit position in LTC since ~2013. I did make money from this coin. That is only because of my time in the market, and not any particular strength of the coin in question. Truth be told, I'd have made more money being in other positions, so it is irrelevant. Perhaps I'll regret it one day. Perhaps not.* > > *I have been banned from various LTC-related subreddits for my opinions, prior to ever making this post.* > >   > > * The technology behind LTC is old. It is tried and tested, but it is old. While that's not inherently a bad thing for many applications, it's not a quality I would consider "strong" in a space where new technologies have vastly out-paced the capabilities of this coin. > > * LTC has the similar advantage that BTC has of being an early mover. As one of the first few coins in existence, it's been capable of catapulting itself into some pretty big places. Problem is, the coin hasn't really *done* anything with that. Mind you, I'm not saying that it hasn't had development, or that it hasn't seen improvements come along. I'm saying that it seems to have more or less reached the limits of it's capabilities as a PoW coin, from a technical standpoint and an investment standpoint. Specifically as a less-valuable version of BTC, and more recently, left in the dirt by DOGE. It unclear whether or not it will recover. It did [have this](https://news.bitcoin.com/grayscale-adds-174000-ltc-to-its-litecoin-holdings-price-of-the-altcoin-unresponsive/) and [this](https://www.theverge.com/2021/3/30/22357246/paypal-buy-with-bitcoin-litecoin-ethereum-crypto-checkout) happen recently, but so far, from a price increase/positive outlook standpoint, it's kinda [felt like this.](https://imgflip.com/i/5b3zj1) > > * [There are better coins for speed](https://www.stellar.org/?locale=en). [There are better coins for transaction fees](https://medium.com/nanocurrency/cryptocurrency-fee-comparison-which-crypto-has-the-lowest-fees-4e9118590e1f). [There are better coins to make money trading on](https://coinmarketcap.com/historical/), depending on [your level of risk](https://www.analyticsinsight.net/top-10-highest-growing-cryptocurrencies-in-2021/). There are better coins for storing value, namely the one worth the most. The only time that statement would change is if you were *already invested in LTC from years back*. Tl;Dr - **There are better coins**. The problem with this conversation is that it stops being about the technology behind the coin, and that makes it difficult to speak to the Pros and Cons without talking to the other aspects, which is discouraged within the guidelines of this case study. We drift into less technical merits and more psychological aspects/money-driven reasons: people who stand to lose money in their investment/not see the coin grow further and do not want that to happen. > >   > > ==*The rest of this will lean in the opposite direction of the guidelines set forth for this argument. Past this point, you're entirely in the realm of my opinion/experience as a crypto holder/trader since the early 2010s. Do your own research.*== > >   > > * Litecoin gives off that MySpace feel these days. It gives off that "my grandma still has an AOL account" vibe. If you frequent the large melting pot subs for crypto, you'll find LTC is largely dismissed or bemoaned as that "red-headed stepchild of BTC". It's boring. It doesn't do much. That said, what it **does** do, it's pretty good at. Not great, but good *enough*. For some institutions and use-cases, that's perfectly fine. > > * You will consistently hear people who are in favor of LTC tell you that the age is a "feature" and that institutional money wants "stability" in their investments. While I disagree with those arguments, institutional money should be meaningless when trying to create a truly decentralized currency that anyone can use for anything, I understand where those folks are coming from. They're in this game to make money, which is what most everyone is in this game for, and likely what folks reading these arguments are looking for. > > * At the time of this writing, LTC has slipped to #15 for total market cap. I mention that because it once held the #3 spot [(#2 lost and never regained to ETH shortly after ETH arrived on-scene)](https://www.youtube.com/watch?v=1BCadb6SPNQ). It's slowly decayed from those top positions as time has gone on. That's not *inherently* a problem, as many coins far lower on the list have great use-cases and bear markets always shuffle things up. However, it creates a very serious problem: negative perception. > > * Remember what I said earlier: psychological. People don't like betting on the loser. People like to see their choices succeed, and again, at the end of the day, the vast majority of people in this space are lookin' to make some scratch. LTC is a hard sell for that. This past 2021 run, [you had a brief 7-day window](https://ycharts.com/indicators/litecoin_price) to potentially cash out your position around $350-$380. 11 days above $300. A nice 10x if you'd been betting on LTC [since it was ~$20-$30 back in 2017 or Dec 2018-Jan 2019](https://cointelegraph.com/ltc-price-index), but nothing like the gains that many other projects have seen since then (and only if you sold and didn't "hodl"). The markets have since taken a **massive** hit in late May 2021, and LTC dropped even lower ($184 as of 26 May, but crypto be like that). > > * If you google LTC, you'll see a bunch of predictions about how the coin is "bound for 10k" and it's "always a solid investment". It's actually a meme on some of the LTC-specific subreddits that LTC is always "2 weeks away" from that next big break. In my humble opinion, that break has come and gone. Those of us who put money into the coin at $3 have seen 100x on our returns. The coin has been in the media since 2017, and is one of the few coins that has been shown in major news outlets alongside BTC and ETH. This isn't **new** news though. These developments have done nothing to catapult the coin to some mythical new height that it's "destined" to reach. In stock-lingo, one could consider these developments to already be *priced in*. > > * [There's good things to say about the coin](https://beincrypto.com/litecoin-completes-mimblewimble-code-ltc-scaling-privacy/), but this isn't that sort of movie. I personally don't think those good things out-weigh the bad, and the entire thing comes full-circle to the crux of these arguments: LTC's technology is not on par with what the modern crypto-space has to offer, and LTC is not going to make money in significant amounts for the new investor compared to other projects in the space. I'd challenge someone interested in becoming a new investor in LTC to ask other holders when they entered. Good money says the vast majority are still holding from the 2017-2018 hype, just hoping for a chance to either get back to green, or maybe see some new gains. Sure, there's whales and "old money", but they're the ones with the vested interest in keeping LTC afloat. No one wants to see their nest egg dry up, and like I said, there *are* uses for the coin... I guess... [Go read the "Pro" argument section.](https://old.reddit.com/r/CryptoCurrency/comments/n5ugij/pro_contest_litecoin_proarguments/) > > * Just reading the linked articles, you can see incorrect/outdated information, price inconsistencies, hell, even the authors don't understand what "code complete" means for MWEB. Some of them [think it's already online for current use](https://anycoindirect.eu\/en/blog/mimblewimble-litecoin-s-vision-on-privacy)(it's not, as of 26 May). Cryptocurrency is volatile as HECK! > >   > > **I could be 100% wrong. LTC could go to 1k this year. It could go to 10k in '24-'25. It might not. At this point though, what makes it any more likely to "moon" than other projects within the space? What does LTC offer that other coins don't already do and do better, aside from "already got an old, wrinkly leg in the door?"** *Take that as you will.* ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/ovmtst/rcc_cointest_coin_inquiries_litecoin_conarguments/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Litecoin) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10vmhhb/daily_general_discussion_february_7_2023_gmt0/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 12:45:23
/r/CryptoCurrency/comments/10w7yco/revolutionizing_publishing_fiu_student_publishes/j7lhxut/

#Litecoin Pro-Arguments Below is an argument written by FrogsDoBeCool which won 2nd place in the Litecoin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > # Litecoin - A Cryptocurrency With Currency in Mind > > Disclosure: I have never owned Litecoin, I do not personally believe it is a profitable investment compared to other cryptos, but is a safe crypto to bet on. I have made a Cointest on this topic previously, which has been copied pasted here. This submission is supposed to be readable for any one person just starting in crypto, but does delve into more technicals later on. > > ​ > > # The Start of Litecoin > > * **Charlie Lee,** the [founder](https://en.wikipedia.org/wiki/Charlie_Lee_(computer_scientist)#cite_note-Williams-Grut_2018-1) and developer of Litecoin. Lee begun his life at Ivory coast, his family being Chinese immigrants at the time. During his teens, he moved to the United States where he finished [Highschool](https://www.cusd20.com/o/lhs) and [College.](https://en.wikipedia.org/wiki/Massachusetts_Institute_of_Technology) His major being in Computer Science, and eventually his master's being in Computer science as well. > * After College, Charlie had begun working [on getting hired](https://www.linkedin.com/in/chocobo/), from 2000 to 2007 he worked at a couple of small technology companies, but in September of 2007 he was able to be hired at Google! He has helped build several key features of Chrome until 2013. > * In 2011, Charlie learned of bitcoin via the [silk road](https://www.investopedia.com/terms/s/silk-road.asp), due to his already skeptical nature of the government he instantly was fond of bitcoin, he began mining bitcoin in 2011 but soon realized the faults bitcoin had, and began building what is now called Litecoin. > * **Litecoin's Foundations** > * Litecoin was built in C++ and officially was a fork of Bitcoin. All Operating systems allow for Litecoin to be used and developed on except some minor operating systems, and a couple of major ones like - chrome os, mac os. > * Litecoin works similar in bitcoin in that every 4\~ years the reward for mining is [halved](https://stormgain.com/blog/litecoin-ltc-halving#:~:text=more%20acceptable%20values.-,When%20is%20the%20next%20Litecoin%20halving%3F,will%20drop%20to%206.25%20LTC). The next being in 2023. > * Litecoin was built to act as cash, since every transaction cost (currently) around [$0.02.](https://bitinfocharts.com/litecoin/) Litecoin has a block time of 2.5 minutes, meaning every 2.5 minutes a transaction block is verified, leaving quicker transactions and less bloat in the network. The only time 2.5 minutes per block was overextended was in [2012](https://bitinfocharts.com/comparison/litecoin-confirmationtime.html#3y) when Litecoin during Litecoin's early release. > * Litecoin has about 50 transactions per second, about ten times better than bitcoin. > * The richest litecoin wallet owns about 6.5% of all litecoin's. From what I could find (not a lot) this may be an exchange's cold wallet. They dca into litecoin a lot, but buy at pretty bad times, nearly doubling its LTC held just days before the may crash. > * [Open Source](https://github.com/litecoin-project/litecoin) > * Litecoin is fully decentralized in the fact any one person could submit code into the network and as long as a majority of miners agree to that fork it will be implimented. This is similar to bitcoin. > * Litecoin made its own satoshi esque vocabulary, a photon. > * The Hashing Algorithm > * Since Litecoin works on Proof of Work, it needed to find a solution to ASICS, a crypto mining specific cpu. Litecoin solves this with [scrypt](https://www.mycryptopedia.com/litecoin-scrypt-algorithm-explained/#:~:text=Scrypt%20is%20a%20hash%20function,Litecoin%20and%20Bitcoin%20protocols%20respectively). What's funny is apparently since Dogecoin is a fork of Litecoin anyone can mine both Litecoin and Dogecoin simultaneously on the same network. > * There was no pre-mine on Litecoin. The first people who mined got the most. The supply of Litecoin is about 84 million at maximum. > * The price of Litecoin just barely went over its [2017](https://coinmarketcap.com/currencies/litecoin/) peak, which to many sounds bad, although 80-90% of all cryptocurrencies failed during the 2018 bear run, so litecoin has still beat the majority of the market. > > # What Litecoin is Now > > * **Litecoin was the first major cryptocurrency to implement the lightning network.** > * The Lightning network > * The lightning network is a layer two solution to build scalability, security, and speed upon bitcoin, but in this case, [Litecoin.](https://en.wikipedia.org/wiki/Lightning_Network#:~:text=On%20May%2010%2C%202017%2C%20Christian,a%20fraction%20of%20a%20second) > * Taken from my "Lightning network pro july - aug 2021"... "The lightning network to work basically sets up a channel that connects the network from the sender and receiver. The lightning networks uses multi-signature transactions to confirm a lightning channel. Time locks are also used, which is a way to stop transactions from instantly being executed. Time locks are most commonly used when there’s a lot of demand for bitcoin transactions, and not enough blocks being confirmed." > * TLDR: Lightning network will may litecoin even faster, secure, and decentralized than ever. > * **Mimble Wimble** > * Mimble Wimble is the update to Litecoin, it is THE update to litecoin to include complete privacy, comparable to Zcash and Monero, but with scalability and [security](https://coinmarketcap.com/alexandria/article/what-is-mimblewimble). Mimble wimble was first thought of in 2016, but took 4 years to begin testing on the litecoin test-net. > * mimble wimble hides the amount of litecoin sent, the address, and even the ip of the user sending the litecoin, thanks to [Dandelion.](https://medium.com/beam-mw/about-dandelion-and-mimblewimble-e083597e0355) > * To explain further, Litecoin Mimble wimble has no addresses. transactions and private keys are verified no longer by signing, but "Proof of ownership is instead achieved through methods similar to CoinJoin and Confidential Transactions. Input and output owners form a multi-signature to sign off on each block, eliminating the need for addresses," [source](https://medium.com/interdax/litecoins-mimblewimble-extension-block-proposal-209337b38b11) > * **OmniLite** > * OmniLite for the litecoin network adds support for smart contracts, easily created crypto currencies, and nfts. Meaning as of September, Litecoin while using Omnilite, [supports smart contracts and nfts.](https://litecoin-foundation.org/omnilite-launches-for-the-litecoin-network/) > * Omnilite was mainly developed by a worker and programmer of the litecoin foundation, Loshan T. > > # Conclusion > > * Litecoin's past and trajectory as one of the most popular cryptocurrencies continues with the development that the litecoin foundation puts into Litecoin to this day. > * The ability to include smart contracts, cheap transactions, scalability, and security helps solve the [cryptocurrency trilemma](https://www.gemini.com/cryptopedia/blockchain-trilemma-decentralization-scalability-definition#:~:text=The%20blockchain%20trilemma%20refers%20to,decentralization%2C%20security%2C%20and%20scalability), the first cryptocurrency to perfect the trilemma will become one of the most invested, used, and popular, Litecoin is close. ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/ovmtt5/rcc_cointest_coin_inquiries_litecoin_proarguments/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Litecoin) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 12:45:14
/r/CryptoCurrency/comments/10w7yco/revolutionizing_publishing_fiu_student_publishes/j7lhx2m/

* Relevant Cointest topics: [Bitcoin](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_bitcoin), [Proof of Work](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_proof-of-work). * Relevant subreddits: r/Litecoin, r/LitecoinMarkets, r/LitecoinMining, r/GPUmining, r/Bitcoin. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/10w7yco/revolutionizing_publishing_fiu_student_publishes/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 12:45:05
/r/CryptoCurrency/comments/10w7yco/revolutionizing_publishing_fiu_student_publishes/j7lhx1j/

Litecoin {{pros}} & {{cons}} and related info are in the collapsed comments below. Pros and cons will change for every new post.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 12:45:05
/r/CryptoCurrency/comments/10w75cc/you_can_now_earn_sushi_by_staking_moons_and/j7lfpev/

#Proof-of-Stake Con-Arguments Below is an argument written by excalilbug which won 3rd place in the Proof-of-Stake Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > [Proof of Stake](https://en.wikipedia.org/wiki/Proof_of_stake) (PoS) is currently the most popular mechanism that secures the blockchain > > But not always the most popular means the best > > The biggest problem of Proof of Stake is that you can't mine coins, you have to buy them. This gives upper hand to the rich. Rich people can buy more coins. And more coins means more power > > But that's not all. As the name suggests - you can stake your coin. And usually when you stake your coins you get more coins. So rich people, who buy a lot of coins, get even more coins. It's perpetuum mobile for the rich > > And the problem with most (all?) PoS coins is that they weren't "born" naturally like Bitcoin. True, Satoshi mined massive number of bitcoins but those bitcoins don't multiply themselves. If he wanted to have more bitcoins, he would have to compete against other miners. But creators of PoS coins leave many coins for themselves and then those coins multiply themselves by doing nothing > > Not to mention that in order to become a validator in the most popular PoS blockchains you have to be rich ([ETH = around $100k](https://ethereum.org/en/staking/)) or super rich ([BNB = around $4 million](https://docs.binance.org/faq/bsc/val.html)!!!) ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/t5mn11/general_concepts_proof_of_stake_conarguments/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Proof_of_Stake) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10vmhhb/daily_general_discussion_february_7_2023_gmt0/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 12:31:01
/r/CryptoCurrency/comments/10w75cc/you_can_now_earn_sushi_by_staking_moons_and/j7lfojg/

#Proof-of-Stake Pro-Arguments Below is an argument written by Shippior which won 1st place in the Proof-of-Stake Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Proof of Stake (PoS) is a method for securing the network by using the computers of the entities that hold coins or tokens of the network. A protocol selects a random node, a validator, to produce a block. This selection is based on the number of coins a validator holds. This number of coins can be increased by delegators, people that do not run their own node, by voting for a certain delegator with their own coins (staking). It is important they pick a delegator that they trust and that is reliable as both validator and delegator are at risk of slashing, losing a portion of their coins if they show misbehaviour by for example trying to double spend or if they do not produce blocks that have been assigned to them. In return both validators and delegators receive a small fee for securing the network by staking their coins. Notable networks that use PoS are Cardano, Polkadot and Cosmos. > > Using this method reduces the energy cost of the system to provide security by a lot compared to the competing Proof of Work (PoW) system. PoS does not require special computer parts to run efficiently and can therefore also be run more energy efficiently. The most obvious attack on the network, a 51% attack, is just as unlikely for PoS. It requires an entity to own 51% of all the available coins. If an entity owns that amount of coins it will only hurt itself if the coin loses its value due to an attack. > Another attack that is possible on PoS is a long range attack. This means an entity that is outside of the network, and therefore can not be punished, takes a block that has been produced a long time ago and starts adding its own blocks to try and create the longest chain. These attacks can be blocked by introducing checkpoints into the blockchain. A checkpoint is a block that, once it has been checked by a set of validators, is finalized. If the network detects a chain in which the finalized block is not present it will be disposed. This foils a long range attack as there is only a limited space in which the attack can take place (between 2 checkpoints) reducing the possibility that the chain produced by the attacker is picked up. > > Compared to PoW a PoS is also more scalable. Most of the smart contract networks have therefore opted to use PoS as the finality of a block is only a few seconds, resulting in a low transaction fee and thereby making it attractive to run a lot of smart contract transactions. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/t5mn0d/general_concepts_proof_of_stake_proarguments/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Proof_of_Stake) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 12:30:52
/r/CryptoCurrency/comments/10w75cc/you_can_now_earn_sushi_by_staking_moons_and/j7lfnry/

Proof-of-Stake {{pros}} & {{cons}} and related info are in the collapsed comments below. Pros and cons will change for every new post.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 12:30:44
/r/CryptoCurrency/comments/10w75cc/you_can_now_earn_sushi_by_staking_moons_and/j7lfnt1/

* Relevant Cointest topics: [Proof of Stake](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_proof-of-stake), [Cardano](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_cardano), [Ethereum](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_ethereum). * Relevant subreddits: r/Bitcoin, r/EthStaker, r/Cardano, r/ProofOfStake. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/10w75cc/you_can_now_earn_sushi_by_staking_moons_and/j7lfm3t/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 12:30:44
/r/CryptoCurrency/comments/10w75cc/you_can_now_earn_sushi_by_staking_moons_and/j7lfnq9/

#Moon Con-Arguments Below is an argument written by Laughingboy14 which won 3rd place in the Moon Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Moons are currently hyper-inflationary, with millions more Moons being issued each month. Although they are also dis-inflationary (the rate of inflation decreases by 2.5% each month), this is hardly enough to have a material impact on the rate of inflation. The constant inflation makes Moons a terrible long-term hold, where the owner's ownership % is eroded monthly. > > Reddit as a platform does not want to be investigated by the SEC. Thus far, we have seen Reddit consistently move away from the idea of Moons as a monetary asset/security, and towards the idea of it being purely a governance token. This does not bode well for major CEX listings, which often require working with the token creator for listings. Without a major CEX listing, it is unlikely that sufficient trading liquidity will ever be achieved and so price action will not take off. > > To top it all off, Moons currently have very little in terms of use case. Currently, Moons can be used to purchase Reddit coins, special memberships and can vote in r/cc governance polls. None of these are sufficient use cases to drive exogenous demands for Moons. Sure, some of these use cases marginally increase reasons to hold onto Moons or for r/cc members to spend them, but they are definitely not sufficient to cause members to go out and purchase extra Moons. Especially when one considers that the governance use case is reduced by the idea that you can only ever have the voting power of the Moons that you earned - by buying extra Moons you can never have voting power in excess of earned Moons. Thus, any purchases of Moons are merely speculation on future use cases and future value, which is not a fundamentally sound investment. Combine this with the previous point about Reddit not wanting Moons to be considered a security, it is unlikely that Reddit will provide any truly useful use cases for Moons. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/wdgsuz/coin_inquiries_moons_conarguments_august_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Moons) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10vmhhb/daily_general_discussion_february_7_2023_gmt0/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 12:30:43
/r/CryptoCurrency/comments/10w75cc/you_can_now_earn_sushi_by_staking_moons_and/j7lfmyc/

#Moon Pro-Arguments Below is an argument written by Nostalg33k which won 2nd place in the Moon Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > # Moons: The best idea ever ! > > Moons are the community points of the cryptocurrency subreddit and are also governance tokens. In this short demonstration, we will discuss why Moons may be the best idea reddit ever had. After a short explanation of what moons are we will discuss how they work on different levels: Governance, Distribution and Use-case. > > ​ > > Moons are tokens existing on Arbitrum Nova. They are distributed to people contributing to r/cc. > > Instead of being rewarded through a process limiting competition: for example everyone who has more than 1000 monthly Karma and submit to a cointest has an allocation equal to any other members, moons are rewarded depending on the popularity of your contributions. > > Moons can be exchanged and sold. They can also be used to weight in on decisions made to change their distribution or to change the rules of the sub. > > ​ > > # Governance: The biggest success of Moons > > > If one thing should be remembered about Moons, it is their function as governance Tokens. This succeeds on multiple accounts: > > \-Moderators have a lot of power and can skew the votes, which puts the power in dependable hands > > \-If people sell their moons then Governance moons are lost (Governance moons are different from Moons since your account has only Governance power for the Moons which were acquired through distribution) which helps people to hodl ! > > \-Self-Governing through tokens is a good idea since people have a lot on the line for the success of the Sub ! > > These points are great but they are supported by an even better system of distribution ! > > # Distribution: Moons for everyone > > Clearly the way moons are distributed is brillant. Giving moons for the best content creates an incentive to strive for the best content possible. The moderator allocation creates an incentive for moderators and allow the to have a real voice in governance. Also a lot of governance has made it very difficult to game the system creating distribution of wealth ! > > # Use-case: The best way to use Moons > > Moons are not just governance tokens but they also have usecases ! This is cool as more and more initiative will take place people will have opportunities to use their moons. The way moons are currently designed they can be moved really fast thanks to Arbitrum Nova and for very cheap. This will allow staking, gaming and many other opportunities ! > > # Conclusion: Moons are currently failing > > > Moons are clearly succeeding on multiple account, without even discussing how governance being skewed towards moderators can help a sub to thrive we can see that there is brillance in their design. A way to continue on this road would be to continue to develop cool uses for moons on reddit. Right now we are heading to a good place where usecase and governance will strive. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/wdgt3n/coin_inquiries_moons_proarguments_august_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Moons) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 12:30:35
/r/CryptoCurrency/comments/10w75cc/you_can_now_earn_sushi_by_staking_moons_and/j7lfm6m/

* Relevant links: r/CryptoCurrencyMoons, [Moons Wiki](https://www.reddit.com/r/CryptoCurrency/wiki/moons_wiki). * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/10w75cc/you_can_now_earn_sushi_by_staking_moons_and/j7lfm3t/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 12:30:27
/r/CryptoCurrency/comments/10w75cc/you_can_now_earn_sushi_by_staking_moons_and/j7lfm5l/

Moon {{pros}} & {{cons}} and related info are in the collapsed comments below. Pros and cons will change for every new post. Submit a pro/con argument in the [Cointest](https://www.reddit.com/r/CointestOfficial/wiki/cointest_policy) and potentially win [Moons](https://coinmarketcap.com/currencies/moon/). Moon prizes by award for the Coin Inquiries category are: **1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 1000.**** --- To submit an Moons pro-argument, [click here](https://www.reddit.com/r/CointestOfficial/comments/sifdzh/coin_inquiries_moons_proarguments_february_2022/). | To submit an Moons con-argument, [click here](https://www.reddit.com/r/CointestOfficial/comments/sife2c/coin_inquiries_moons_conarguments_february_2022/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 12:30:27
/r/CryptoCurrency/comments/10w75cc/you_can_now_earn_sushi_by_staking_moons_and/j7lfm3t/

Pro & con info are in the collapsed comments below for the following topics: {{top_level_links}}

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 12:30:26
/r/CryptoCurrency/comments/10w7lp5/nearly_done_we_are_69_through_our_way_for_the/j7lflzg/

#Bitcoin Con-Arguments Below is an argument written by Nostalg33k which won 2nd place in the Bitcoin Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > # Bitcoin: A nice idea with the worst implementation possible. > > Having a worldwide permission-less system of financial settlement may seem like a good idea at first glance. "Let's bank the unbanked" and other nice sentences skewed crypto enthusiasts towards Bitcoin but in the end, Bitcoin is already failing and should nothing be done to change some of its internal and external factors, Bitcoin's outlook could change from positive to very negative. Here is my perspective on the future of Bitcoin. > > # Early investors makes the profit > > A permission-less payment system to escape the greediness of the banks... only to be left in the hands of speculators. Right now, Bitcoin is an investment more than a payment system. After all, if you were paid in Bitcoin in 2021, you could have lost more than 2/3 of the value you transferred to your client. > > This is why Bitcoin is problematic as a Permission-less settlement system: You always need to go back to banks and to fiat because fiat is more stable than Bitcoin. > > This situation leads to early investors getting profits and people using Bitcoin as supposed (A payment system) are left licking their wounds. > > # The price of permission less. > > An ethical question arise when discussing a permission less settlement system. Should we have one ? From terrorism to rogue states, our world is still very unstable. Bitcoin is only creating more instability. Allowing countries such as Iran to escape US led sanctions. After all Bitcoin first use case was to fuel the financial ecosystem of a dark web drug market. > > ​ > > # No framework for adoption > > In a lot of countries, being paid in Bitcoin is problematic. From different taxation rules for revenue in Bitcoin to straight up considering all Crypto holdings to be speculative and considering they should be under a flat tax of 30%. This lack of framework may have been a reason for Bitcoin rising to this point but it is now slowing development. > > ​ > > # Conclusion: Bitcoin is both a threat to global stability and under threat because of the lack of oversight. > > Having a permission less settlement system seems like a good thing... between reasonable financial actors. Right now this anarco libertariano capitalist idea may have already gone too far. Allowing cartels and other criminals to be funded through Bitcoin is a bad idea. People using Bitcoin in Venezuela could be seen as a good thing BUT the theory is supposed to be that financial suffering leads to revolution. > > More over the lack of comprehensive rules worldwide when looking at Cryptocurrencies is now slowing adoption. Adoption which could lead to a congested network. > > In the end we may simply be looking at Bitcoin failing its first mission. Becoming slowly a reserve fund for traditional banking and countries instead of offering an alternative to traditional banking. > > This failure shows that Bitcoin has not resolved the problems it set out to resolve and that the experiment should be seen as a failure for everyone except those of us treating Crypto as an investment. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpuiar/top_coins_bitcoin_conarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10vmhhb/daily_general_discussion_february_7_2023_gmt0/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 12:30:25
/r/CryptoCurrency/comments/10w7lp5/nearly_done_we_are_69_through_our_way_for_the/j7lfl5c/

#Bitcoin Pro-Arguments Below is an argument written by Nostalg33k which won 1st place in the Bitcoin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Writing a Pro argument for Bitcoin in 2022 seems complicated because everything has been said... or did it? > > Edit: I have a small bag of Bitcoin currently valued around 600 bucks. I am also invested in crypto around 2000 bucks which are always moving when Bitcoin is moving. Financial disclosure should be mandatory in these arguments =) > > # Bitcoin is the king of POW: Why it matters and why we need a strong Bitcoin > > So as the title suggests it, the recent news from Ethereum switching from POW to POS makes Bitcoin the sole serious POW cryptocurrency. In this write up, we are going to discuss the three main strength of Bitcoin, security, decentralization, and incentive for green energy production. In this write up we are not going to talk about speculation or the financial side of Bitcoin. Bitcoin is a highly liquid asset and has become nearly universally known as an investment. Many arguments have been made in favor of Bitcoin as an investment and if you want to read one, just go to past cointests. > > ​ > > Of course, the main feature of Bitcoin is the Permissionless aspect. This won't be tackled at all as I think it deserves its own topic. > > ​ > > # 1) Bitcoin: High security > > This topic has also been talked to death: Bitcoin is ultra secure thanks to its Blockchain and the way it is verified through proof of work. To explain this let me quote IBM: > > ​ > > >Public blockchain networks typically allow anyone to join and for participants to remain anonymous. A public blockchain uses internet-connected computers to validate transactions and achieve consensus. Bitcoin is probably the most well-known example of a public blockchain, and it achieves consensus through "bitcoin mining." Computers on the bitcoin network, or “miners,” try to solve a complex cryptographic problem to create proof of work and thereby validate the transaction. Outside of public keys, there are few identity and access controls in this type of network. > > > >[IBM on Blockchain security](https://www.ibm.com/topics/blockchain-security) > > ​ > > Mining is measured in Hashrate. Here is the explanation of Hashrate: > > >Hash rate, sometimes referred to as hashrate, is a measure of the computing power on a cryptocurrency network that serves as a key security indicator. It measures the total computational power used by a “proof-of-work” (POW) cryptocurrency network to process transactions in a blockchain. > > > >[USNEWS explains hashrate](https://money.usnews.com/investing/term/hash-rate#:~:text=Hash%20rate%2C%20sometimes%20referred%20to,process%20transactions%20in%20a%20blockchain) > > ​ > > So if the hashrate measures the security of the network, one may asks themselves: "Did the security of Bitcoin slowed when the price fell ?" > > [The hashrate is at an ATH and growing making Bitcoin more and more secure as it continues to build over time](https://ycharts.com/indicators/bitcoin_network_hash_rate#:~:text=Basic%20Info,101.2%25%20from%20one%20year%20ago) > > ​ > > So Bitcoin has never been as secure as it is today which makes it ultra valuable as a way to settle financial transactions. Yes holding Bitcoin for a long time is risky but using it as a medium to settle international transaction may currently be the securest and one of the best way to do so. > > While Bitcoin is safe... what if a big part fails ? > > ​ > > # 2) Bitcoin mining: Too big to fail. > > ​ > > So this write up could be seen as a POW write up, which it is to an extent. But Bitcoin offers its history and shows that it can survive the disparition of a big part of the network. > > Decentralization allows for parts of the network to disappear and for the rest to take the mantle of securing the network. Yes, mining pools may grow too large for their own sake BUT in the end (nothing even matters) Bitcoin is heavily decentralized. It is so decentralized that, when China (which had a big part of Bitcoin mining) banned mining, Bitcoin just went through like nothing happened. Yes the hashrate fell a bit, the value too, but if we look back, it was nothing extraordinary. > > ​ > > So if Bitcoin is highly secure and if it can survive part of the hashrate going bye bye, what makes it so good? What is the difference with any POW Cryptocurrency right now? > > ​ > > # 3) Bitcoin: propping up the green energy sector. > > ​ > > POW uses energy. One of the biggest concern about POW is the energy. While Ethereum was using GPUs and was asic resistant. Bitcoin mining is built differently. A long time ago, under oath, people discussed the environmental impact of Bitcoin Mining and I made a post explaining what was said: > > ​ > > >The Energy Fud Was Killed > > The most important thing that happened: The narrative that Bitcoin is too energy intensive was totally reversed. > > Experts of the sector explained that, Wind Farms and Solar Farms, have a variable load. This variable load means that sometimes they lose money because they produce too much and there is not enough demand. Bitcoin mining provides a variable base load for these projects. What it means is that, mining can be turned on and off depending on demand. It was revealed that most of these wind and solar farms would simply not exist without Bitcoin Farming as baseline customers. > > There are still miners that are using coal plants and fossil fuel but the leaders of the industry are developing in tandem with the green energy sector. > > >[My post](https://www.reddit.com/r/CryptoCurrency/comments/s99phv/yesterday_one_of_the_most_bullish_events_ever/) > > ​ > > # Conclusion: Bitcoin is the flagship of POW and it is a feature not a bug. > > Bitcoin, thanks to its value and tokenomics is seen as a good investment, this is also why miners commit huge amount of ressources to take the hashrate to new heights. These miners help the US grid to become more and more resilient. The future of Crypto and of green energy relies a lot on Bitcoin. Bitcoin has proven time and time again that it can shoulder these changes. Bitcoin is a good piece of technology and I hope people continue to invest in it because it is doing a lot of good for our future ! ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpui9i/top_coins_bitcoin_proarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 12:30:16
/r/CryptoCurrency/comments/10w7lp5/nearly_done_we_are_69_through_our_way_for_the/j7lfk7k/

* Relevant Cointest topics: [Bitcoin Cash](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_bitcoin_cash), [Litecoin](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_litecoin), [Lightning Network](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_lightning_network), [Proof of Work](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_proof-of-work) * Official and related subreddits: r/Bitcoin, r/BitcoinMarkets, r/BitcoinMining, r/BTC, r/BitcoinCash. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/10w7lp5/nearly_done_we_are_69_through_our_way_for_the/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 12:30:06
/r/CryptoCurrency/comments/10w7lp5/nearly_done_we_are_69_through_our_way_for_the/j7lfk56/

Bitcoin {{pros}} & {{cons}} and related info are in the collapsed comments below. Pros and cons will change for every new post.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 12:30:05
/r/CryptoMarkets/comments/10w704b/9_ways_to_use_bitcoin_more_privately/j7ldfa1/

#Bitcoin Con-Arguments Below is an argument written by Nostalg33k which won 2nd place in the Bitcoin Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > # Bitcoin: A nice idea with the worst implementation possible. > > Having a worldwide permission-less system of financial settlement may seem like a good idea at first glance. "Let's bank the unbanked" and other nice sentences skewed crypto enthusiasts towards Bitcoin but in the end, Bitcoin is already failing and should nothing be done to change some of its internal and external factors, Bitcoin's outlook could change from positive to very negative. Here is my perspective on the future of Bitcoin. > > # Early investors makes the profit > > A permission-less payment system to escape the greediness of the banks... only to be left in the hands of speculators. Right now, Bitcoin is an investment more than a payment system. After all, if you were paid in Bitcoin in 2021, you could have lost more than 2/3 of the value you transferred to your client. > > This is why Bitcoin is problematic as a Permission-less settlement system: You always need to go back to banks and to fiat because fiat is more stable than Bitcoin. > > This situation leads to early investors getting profits and people using Bitcoin as supposed (A payment system) are left licking their wounds. > > # The price of permission less. > > An ethical question arise when discussing a permission less settlement system. Should we have one ? From terrorism to rogue states, our world is still very unstable. Bitcoin is only creating more instability. Allowing countries such as Iran to escape US led sanctions. After all Bitcoin first use case was to fuel the financial ecosystem of a dark web drug market. > > ​ > > # No framework for adoption > > In a lot of countries, being paid in Bitcoin is problematic. From different taxation rules for revenue in Bitcoin to straight up considering all Crypto holdings to be speculative and considering they should be under a flat tax of 30%. This lack of framework may have been a reason for Bitcoin rising to this point but it is now slowing development. > > ​ > > # Conclusion: Bitcoin is both a threat to global stability and under threat because of the lack of oversight. > > Having a permission less settlement system seems like a good thing... between reasonable financial actors. Right now this anarco libertariano capitalist idea may have already gone too far. Allowing cartels and other criminals to be funded through Bitcoin is a bad idea. People using Bitcoin in Venezuela could be seen as a good thing BUT the theory is supposed to be that financial suffering leads to revolution. > > More over the lack of comprehensive rules worldwide when looking at Cryptocurrencies is now slowing adoption. Adoption which could lead to a congested network. > > In the end we may simply be looking at Bitcoin failing its first mission. Becoming slowly a reserve fund for traditional banking and countries instead of offering an alternative to traditional banking. > > This failure shows that Bitcoin has not resolved the problems it set out to resolve and that the experiment should be seen as a failure for everyone except those of us treating Crypto as an investment. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpuiar/top_coins_bitcoin_conarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10vmhhb/daily_general_discussion_february_7_2023_gmt0/).

Commented by /u/CointestMod in /r/CryptoMarkets on February 7, 2023 12:16:27
/r/CryptoMarkets/comments/10w704b/9_ways_to_use_bitcoin_more_privately/j7ldehx/

#Bitcoin Pro-Arguments Below is an argument written by Far-Scholar9028 which won 3rd place in the Bitcoin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Understanding the benefits and drawbacks of the bitcoin blockchain is essential if you're considering investing in bitcoin. Let's start off with the positives of BTC. > > **21 Million Fixed Supply** > > Bitcoin cannot be printed by governments at will, unlike fiat money like the US dollar. There are only a total of 21 million bitcoins in existence. An estimated 3.7 million bitcoins have been lost, which means they will never be found without the private key. Citizens all over the world are using bitcoin as an inflation hedge due to the continued money creation by central banks around the world. > > **Decentralization** > > The ability to conduct financial transactions without a third-party intermediary watching over the transaction is referred to as decentralization. The nodes, or individual computers that make up the Bitcoin network, are numerous. Decentralization is crucial because it precludes an attack on a single point of failure, making it nearly impossible for any government or organization to bring down the BTC network. > > **25/7/365** > > Bitcoin doesn't have afternoon or weekend closing times like conventional financial markets do. Bitcoin can be traded 365 days a year, around the clock. Furthermore, sending bitcoin is quicker than making a bank transfer. The Bitcoin network is accessible to everyone. It is an open peer-to-peer network that everyone can utilize, regardless of where they reside or how much money they have. > > **Self Custody** > > Self-custody is vital for cryptocurrencies like bitcoin. You don't have to rely on a single corporation, a bank, or legal documents to acquire full ownership of your possessions. In nations around the world with weak property rights, this has a huge impact and gives people more power and control over their finances. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpui9i/top_coins_bitcoin_proarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoMarkets on February 7, 2023 12:16:18
/r/CryptoMarkets/comments/10w704b/9_ways_to_use_bitcoin_more_privately/j7lddpb/

* Relevant Cointest topics: [Bitcoin Cash](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_bitcoin_cash), [Litecoin](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_litecoin), [Lightning Network](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_lightning_network), [Proof of Work](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_proof-of-work) * Official and related subreddits: r/Bitcoin, r/BitcoinMarkets, r/BitcoinMining, r/BTC, r/BitcoinCash. * Sort comments as controversial first by [clicking here](/r/CryptoMarkets/comments/10w704b/9_ways_to_use_bitcoin_more_privately/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoMarkets on February 7, 2023 12:16:10
/r/CryptoMarkets/comments/10w704b/9_ways_to_use_bitcoin_more_privately/j7lddnu/

Bitcoin {{pros}} & {{cons}} and related info are in the collapsed comments below. Pros and cons will change for every new post.

Commented by /u/CointestMod in /r/CryptoMarkets on February 7, 2023 12:16:09
/r/CryptoCurrency/comments/10w73a1/crypto_mining_firms_hut_8_and_us_bitcoin_plan/j7ldcog/

#Proof-of-Work Con-Arguments Below is an argument written by roberthonker which won 3rd place in the Proof-of-Work Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > **Taken from u\/FrogsDoBeCool's submission from the last round** > > # Proof of work, proof of its negatives > > Disclaimer: I own a few coins that use the proof of work algorithm, the most common being Bitcoin, and Ethereum. When we talk about proof of work, I generalize bitcoin with proof of work too, that’s not the entire proof of work market, just the largest. > > The proof of work algorithm was a solution at the time that digital currencies could not solve, minting. Digital assets without regulation may be infinitely minted. Bitcoin included a reference for hash cash in its whitepaper, citing a major influence in its proof of work algorithm. Hash cash solved the issue of a trapdoor (minting coins at an arbitrary level). “A disadvantage of known solution cost-functions is that the challenger can cheaply create tokens of arbitrary value”[hash cash whitepaper.](https://whitepaper.io/document/0/bitcoin-whitepaper) Hash cash is not the first whitepaper about Proof of work but has a major influence on how bitcoin has developed. > > The issue of proof of work is that these whitepapers tend to ignore the reality, by tethering energy usage needed to mint these coins we cause many negative effects. The energy usage of proof of work causes a negative effect on the climate, causes the development of specific ASICS to ruin decentralization, and finally, because of that the security of proof of work is questionable. > > A cliche in the mainstream media is that proof of work has a major negative effect on the climate, due to its high energy usage. It’s impossible to know the exact figure of energy used by bitcoin’s proof of work algorithm, the best estimate mathematicians use is the hash rate of bitcoin, although, with that in mind, the rough estimate of energy used is way too much for an up incoming technology. The value of bitcoin sits at nearly 900 billion, an unlikely comparison, google, sits at double that. Google is a necessity for every person using the internet, from Google itself, to google sheets, Chromebooks, and more. And bitcoin, most of the energy used from proof of work, theoretically is a necessity for every person using digital payments. bitcoin consumes 110 terawatts, Google uses 12\~ terawatt-hours of energy a year. Two technologies, one being used by most people on the internet in practice (four billion), uses 10 times less energy than bitcoin, a technology used by a much smaller population (three hundred million). > > So far then, bitcoin is a technology that is more theoretically used than actually used, and uses 10 times more energy than Google, one of the largest technology companies with products a majority of people use. What if bitcoin became as large as google then? If four billion people used bitcoin, (and to keep the transaction cost stable) the energy usage would be nearly 1500 terawatts of power. The entire united states uses 4000 terawatts a year. A counterargument people often say to refute these statistics is that bitcoin does not ruin the environment if it uses green energy… so how were those solar panels made? How were those wind turbines made? Mining ores, using machinery that uses oil, natural gas. blowing up the earth with tnt. Proof of work has environmental and efficiency issues that will not be ignored, or claimed as fud. Bitcoin and the proof of work algorithm uses 10 times more energy than google, would be detrimental if used globally, and cannot be solved with a bandaid of “we have solar panels”. > > Proof of work algorithms universally has an issue when being developed, centralized mining devices, ASIC’S. To be honest, the majority of modern proof of work algorithms have solved centralized mining devices, but bitcoin, being the largest proof of work algorithm, stays silent about this issue. An rtx 3060 ti makes about 1.6e-7 bitcoin a year, 1.6 with 7 0’s in front of it. An Antminer ASIC makes about 0.26 bitcoin a year. It is impossible to simply just mine bitcoin as a computer user. Why is this bad? Centralization, when specific hardware is needed to mine bitcoin most people will never mine a satoshi of it, leaving a smaller majority to take all the profits. Proof of work in this instance has failed to keep itself decentralized due to the large minority of bitcoin miners. > > Security, proof of work has been a savior to security many argue. Although China has been a wake-up call as of recently. Hypothetically there could be an institution that wants to take down bitcoin, what does it need? A shit ton of mining rigs now, but back when bitcoin was first released, the power required would have been minuscule to take down the whole network. Bitcoin actually had a 51% attack in 2014 from Ghash, a bitcoin pool that had been very popular in the community. When a 51% attack occurs a trap door could occur causing double-spending. “it would have had the ability to indirectly take money from other users, for instance by buying something and then rewriting history so that the purchase never happened.” [source.](https://www.theguardian.com/technology/2014/jun/16/bitcoin-currency-destroyed-51-attack-ghash-io) > > Overall the issues with proof of work have developed and molded a new type of method, proof of stake. Proof of work was developed to solve the issue of minting infinite arbitrary digital money, but by tying energy to minting we have seen environmental issues arise, the centralization of mining rigs, and the security flaws of proof of work. Proof of work has solved one issue, and caused many more. ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pfolat/rcc_cointest_general_concepts_pow_conarguments/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Proof_of_Work) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10vmhhb/daily_general_discussion_february_7_2023_gmt0/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 12:15:59
/r/CryptoCurrency/comments/10w73a1/crypto_mining_firms_hut_8_and_us_bitcoin_plan/j7ldbw7/

#Proof-of-Work Pro-Arguments Below is an argument written by pashtun92 which won 1st place in the Proof-of-Work Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Satoshi Nakamoto's created the Bitcoin protocol and used a consensus mechanism to validate transactions called proof-of-work. Since then, other consensus mechanism's have risen, such as proof-of-stake, which are claimed to be more efficient. However, the trade-off's made in this case are never properly discussed, which is something I will dive more deeply in this pro proof-of-work post. > > ​ > > The first argument I wish to present, is related to network effects. In proof-of-work, taking bitcoin as example, millions of miners are essentially solving a 'puzzle' and nodes are determining whether these puzzles are 'fitting'. Someone could easily 'copy' (=fork) the bitcoin network and run the exact same code, however, since the miners would still be running on the original network, the 'copy cat' network would have no miner's validating the network. It would thus be susceptiable to 51% attacks. Fork's of bitcoin have only 1% or less of the haspower of bitcoin¹. So eventhough you can copy the bitcoin protocol, because of proof of work, you cannot copy it's network effect. > > ​ > > Proof-of-work is simple and there is no need to punish bad miners. Since electricity is spent on blocks, if you present blocks that aren't valid or aren't included in the longest chain, you lose money as a miner. This is your punishment. In proof-of-stake, you are commiting your own coins to validate a network, therefore, blockchains have to come up with alternative ways to 'punish' bad actors (=slashing)². The blockchain has to be sure that you aren't voting on all possible chains at once (which can't be done with proof-of-work, since it takes real-world-resources for each one). Therefore, proof-of-stake is a much more complex system that will take away staker's coins if they misbehave. > > ​ > > If proof-of-work manages to achieve a strong network effects, as is the case with bitcoin, then it is much more secure than proof-of-stake. There are theoretical attack vectors which do not exist in proof-of-work. For example, one is called the long-range attack. The idea is once you have exited the network as a validator, you can go back in time, effectively. So you exit the network and can go back a month in time and produce as many historical blocks as you want. You could then write a different history for the chain, which conflicts with the current history, however, since you have already exited, you can't be slashed. This is a long-range attack³. Solutions have been implemented for this, which depend on "checkpoints". These checkpionts depend on "trusting" others to be online long enough to guarantee that they are on the right chain, which they can then tell you. This is referred as "weak subjectivity". Thus, the solution depends on "trusting" others, which defeats the idea of cryptocurrencies. > > ​ > > Last, I would argue that proof-of-work is a fair system. In proof-of-stake, the more coins you have, the more voting power you have and those with the most coins are also the ones earning the most staking rewards. The gap between the rich and poor thus becomes larger. In proof-of-work, your ability to become a miner is based on your ability to put forth capital and to find low-cost electricity. This is fair to everyone and in a way, newer people actually have a small advantage when entering the system since newer miners will have technical advantages. > > ​ > > References > > 1. [https://bitinfocharts.com/comparison/hashrate-btc-bch-bsv.html#3y](https://bitinfocharts.com/comparison/hashrate-btc-bch-bsv.html#3y) > 2. [https://novuminsights.com/post/slashing-penalties-the-long-term-evolution-of-proof-of-stake-pos/](https://novuminsights.com/post/slashing-penalties-the-long-term-evolution-of-proof-of-stake-pos/) > 3. [https://dlt-repo.net/long-range-attack-in-proof-of-stake-pos-blockchains/](https://dlt-repo.net/long-range-attack-in-proof-of-stake-pos-blockchains/) ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/r6vrgi/general_concepts_round_pow_proarguments_december/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Proof_of_Work) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 12:15:50
/r/CryptoCurrency/comments/10w73a1/crypto_mining_firms_hut_8_and_us_bitcoin_plan/j7ldb36/

Proof-of-Work {{pros}} & {{cons}} from the [Cointest](https://www.reddit.com/r/CointestOfficial/wiki/cointest_policy) along with other related info are in the collapsed comments below. Pros and cons will change for every new post. Submit an argument in the [Cointest](https://www.reddit.com/r/CointestOfficial/wiki/cointest_policy) and potentially win [Moons](https://coinmarketcap.com/currencies/moon/). **Current Moon prizes by award for the General Concepts category are: 1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 1000.** --- To submit a PoW pro-argument, [click here](https://www.reddit.com/r/CointestOfficial/comments/r6vrgi/general_concepts_round_pow_proarguments_december/). | To submit a PoW con-argument, [click here](https://www.reddit.com/r/CointestOfficial/comments/r6vtbn/general_concepts_round_pow_conarguments_december/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 12:15:42
/r/CryptoCurrency/comments/10w73a1/crypto_mining_firms_hut_8_and_us_bitcoin_plan/j7ldb42/

* Relevant Cointest topics: [Proof of Stake](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_proof-of-stake), [Bitcoin](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_bitcoin), [Ethereum](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_ethereum), [Monero](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_monero). * Relevant subreddits: r/CryptoMining, r/GPUMining, r/BitcoinMining, r/EthereumMining, r/MoneroMining. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/10w73a1/crypto_mining_firms_hut_8_and_us_bitcoin_plan/j7ld9d2/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 12:15:42
/r/CryptoCurrency/comments/10w73a1/crypto_mining_firms_hut_8_and_us_bitcoin_plan/j7ldb1q/

#Bitcoin Con-Arguments Below is an argument written by Nostalg33k which won 2nd place in the Bitcoin Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > # Bitcoin: A nice idea with the worst implementation possible. > > Having a worldwide permission-less system of financial settlement may seem like a good idea at first glance. "Let's bank the unbanked" and other nice sentences skewed crypto enthusiasts towards Bitcoin but in the end, Bitcoin is already failing and should nothing be done to change some of its internal and external factors, Bitcoin's outlook could change from positive to very negative. Here is my perspective on the future of Bitcoin. > > # Early investors makes the profit > > A permission-less payment system to escape the greediness of the banks... only to be left in the hands of speculators. Right now, Bitcoin is an investment more than a payment system. After all, if you were paid in Bitcoin in 2021, you could have lost more than 2/3 of the value you transferred to your client. > > This is why Bitcoin is problematic as a Permission-less settlement system: You always need to go back to banks and to fiat because fiat is more stable than Bitcoin. > > This situation leads to early investors getting profits and people using Bitcoin as supposed (A payment system) are left licking their wounds. > > # The price of permission less. > > An ethical question arise when discussing a permission less settlement system. Should we have one ? From terrorism to rogue states, our world is still very unstable. Bitcoin is only creating more instability. Allowing countries such as Iran to escape US led sanctions. After all Bitcoin first use case was to fuel the financial ecosystem of a dark web drug market. > > ​ > > # No framework for adoption > > In a lot of countries, being paid in Bitcoin is problematic. From different taxation rules for revenue in Bitcoin to straight up considering all Crypto holdings to be speculative and considering they should be under a flat tax of 30%. This lack of framework may have been a reason for Bitcoin rising to this point but it is now slowing development. > > ​ > > # Conclusion: Bitcoin is both a threat to global stability and under threat because of the lack of oversight. > > Having a permission less settlement system seems like a good thing... between reasonable financial actors. Right now this anarco libertariano capitalist idea may have already gone too far. Allowing cartels and other criminals to be funded through Bitcoin is a bad idea. People using Bitcoin in Venezuela could be seen as a good thing BUT the theory is supposed to be that financial suffering leads to revolution. > > More over the lack of comprehensive rules worldwide when looking at Cryptocurrencies is now slowing adoption. Adoption which could lead to a congested network. > > In the end we may simply be looking at Bitcoin failing its first mission. Becoming slowly a reserve fund for traditional banking and countries instead of offering an alternative to traditional banking. > > This failure shows that Bitcoin has not resolved the problems it set out to resolve and that the experiment should be seen as a failure for everyone except those of us treating Crypto as an investment. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpuiar/top_coins_bitcoin_conarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10vmhhb/daily_general_discussion_february_7_2023_gmt0/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 12:15:41
/r/CryptoCurrency/comments/10w73a1/crypto_mining_firms_hut_8_and_us_bitcoin_plan/j7lda70/

#Bitcoin Pro-Arguments Below is an argument written by Far-Scholar9028 which won 3rd place in the Bitcoin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Understanding the benefits and drawbacks of the bitcoin blockchain is essential if you're considering investing in bitcoin. Let's start off with the positives of BTC. > > **21 Million Fixed Supply** > > Bitcoin cannot be printed by governments at will, unlike fiat money like the US dollar. There are only a total of 21 million bitcoins in existence. An estimated 3.7 million bitcoins have been lost, which means they will never be found without the private key. Citizens all over the world are using bitcoin as an inflation hedge due to the continued money creation by central banks around the world. > > **Decentralization** > > The ability to conduct financial transactions without a third-party intermediary watching over the transaction is referred to as decentralization. The nodes, or individual computers that make up the Bitcoin network, are numerous. Decentralization is crucial because it precludes an attack on a single point of failure, making it nearly impossible for any government or organization to bring down the BTC network. > > **25/7/365** > > Bitcoin doesn't have afternoon or weekend closing times like conventional financial markets do. Bitcoin can be traded 365 days a year, around the clock. Furthermore, sending bitcoin is quicker than making a bank transfer. The Bitcoin network is accessible to everyone. It is an open peer-to-peer network that everyone can utilize, regardless of where they reside or how much money they have. > > **Self Custody** > > Self-custody is vital for cryptocurrencies like bitcoin. You don't have to rely on a single corporation, a bank, or legal documents to acquire full ownership of your possessions. In nations around the world with weak property rights, this has a huge impact and gives people more power and control over their finances. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpui9i/top_coins_bitcoin_proarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 12:15:32
/r/CryptoCurrency/comments/10w73a1/crypto_mining_firms_hut_8_and_us_bitcoin_plan/j7ld9g7/

* Relevant Cointest topics: [Bitcoin Cash](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_bitcoin_cash), [Litecoin](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_litecoin), [Lightning Network](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_lightning_network), [Proof of Work](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_proof-of-work) * Official and related subreddits: r/Bitcoin, r/BitcoinMarkets, r/BitcoinMining, r/BTC, r/BitcoinCash. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/10w73a1/crypto_mining_firms_hut_8_and_us_bitcoin_plan/j7ld9d2/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 12:15:24
/r/CryptoCurrency/comments/10w73a1/crypto_mining_firms_hut_8_and_us_bitcoin_plan/j7ld9f2/

Bitcoin {{pros}} & {{cons}} and related info are in the collapsed comments below. Pros and cons will change for every new post.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 12:15:24
/r/CryptoCurrency/comments/10w73a1/crypto_mining_firms_hut_8_and_us_bitcoin_plan/j7ld9d2/

Pro & con info are in the collapsed comments below for the following topics: {{top_level_links}}

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 12:15:23
/r/CryptoCurrency/comments/10w77q1/binance_to_distribute_5m_worth_of_bnb_to/j7ld98c/

#Binance Coin Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Binance Coin Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > First published on: [24.09.2021](https://www.reddit.com/r/CryptoCurrency/comments/og2b3t/comment/he59nit/?utm_source=share&utm_medium=web2x&context=3) > > Last edited on: 07.10.2021 > > # Intro > > Binance Coin (BNB) was launched in July 2017 and it was initially an ERC-20 token on Ethereum. In April 2019, it moved to its own blockchain called Binance Chain. Today, it operates on two blockchains, the other one being Binance Smart Chain. The coin is issued, developed and maintained by the biggest cryptocurrency exchange – Binance. > > # Cons > > **BNB is centralized** > > The biggest downside of BNB is that it goes against the core principle of cryptocurrency – it’s not decentralized. BNB network is secured by **only 21 nodes/validators** when for example ETH has around 9 000 nodes/validators. > > But that’s not all. In order to become a validator, one must own 10 000 BNB coins. Since April 2021, the price of BNB fluctuates mostly between $300-$400. That means a validator-to-be has to invest more than $3 million. Validators also need cutting-edge hardware and very good internet connection but this shouldn’t pose a problem for someone who has more than $3 million dollars. > > Also worth pointing out is the fact that **more than 80% of BNB is either owned or custodied by Binance** and top 100 wallets hold more than 70% of BNB (compare to around 40% for ETH or 16% for BTC). > > ​ > > **The future of BNB depends on Binance** > > BNB is not only centralized but it also depends heavily on the success of Binance. If Binance was to become less popular, BNB will most probably be also affected. Lately, Binance is having regulatory problems in several countries, most notably in the US, the UK, Japan and Thailand. > > Binance is also under constant threat of being a victim of hackers. In May 2018, it was hacked and 7 000 Bitcoins were stolen. Any Binance security breach is sure to affect the price and future of BNB. > > ​ > > **Regulatory scrutiny and ongoing investigations against Binance** > > Regulators in many countries decided to warn against trading on Binance, banned it from certain activities (e.g. derivatives) or even banned it completely. Some of the banks have blocked their customers from making payments to and from Binance. > > In May 2021, the Justice Department and Internal Revenue Service informed that Binance Holdings is **under investigation for money-laundering and tax evasion**. > > It is also probed by the Commodity Futures Trading Commission (CFTC) over concerns that its employees exploited access to data on millions of transactions (market manipulation and insider trading). > > ​ > > **Binance Smart Chain – blockchain of copycats and scammers?** > > BSC is a copy of Ethereum and as such it’s also full of projects that copy ETH projects. BSC’s Pancakeswap copied ETH's Uniswap, Alpaca Finance copied Yearn Finance, yieldwatch copied Zapper and so on. And then there are copies of those copies. **BSC doesn’t offer too many original and innovative projects.** > > BSC is also very popular among “developers” (read: scammers) whose only intention is to get rich quick. It’s hard to keep up with how many BSC projects got “hacked” (read: rug pulled) and the chain is only one year old. > > This slowly makes more and more people skeptical about BSC. > > ​ > > **Rules can change at any time** > > Binance can change their policy at any time. Take for example the discount users get when paying for transactions with BNB. According to the whitepaper, the discount was to be halved every year but in 2019 Binance decided it wants to keep the discount at 25% and resigned from further halvings. This is of course positive for users but **nothing stops Binance from making less positive changes** in the future. > > (I also found information that Binance has changed the rule regarding quarterly burns in their whitepaper v2 but I couldn’t verify it as whitepaper v2 is nowhere to be found.) > > ​ > > **Ethereum 2.0 and other competitors** > > Successful upgrade of the Ethereum network might make BSC less attractive. When Ethereum has competitive transaction fees, the main advantage of BSC will be gone. If most developers work on Ethereum now, despite ridiculously high fees, **BNB may suffer a serious hit** when those fees are finally lowered. > > And there are more rivals on the horizon. Recently, Cardano successfully launched their smart contracts. Solana is becoming popular. There is also Polkadot, Avalanche, Algorand, Terra… The competition is growing and a centralized project like BNB might not survive in a decentralized world of cryptocurrencies. > > \_\_\_\_\_\_\_\_\_\_\_\_\_\_ > > **^(Sources:)** > > [^(https://www.binance.com/en/support/faq/115000583311)](https://www.binance.com/en/support/faq/115000583311) > > [^(https://www.binance.com/en/bnb#COIN-BURN)](https://www.binance.com/en/bnb#COIN-BURN) > > [^(https://www.binance.com/en/bnb#BNB-RIGHT)](https://www.binance.com/en/bnb#BNB-RIGHT) > > [^(https://www.binance.com/en/support/announcement/2af5831727164545b8a2c665fae8bc04)](https://www.binance.com/en/support/announcement/2af5831727164545b8a2c665fae8bc04) > > [^(https://finance.yahoo.com/news/binance-coin-bnb-why-interesting-110049570.html)](https://finance.yahoo.com/news/binance-coin-bnb-why-interesting-110049570.html) > > [^(https://www.investopedia.com/terms/b/binance-coin-bnb.asp)](https://www.investopedia.com/terms/b/binance-coin-bnb.asp) > > [^(https://trading-education.com/pros-and-cons-of-investing-in-binance-coin)](https://trading-education.com/pros-and-cons-of-investing-in-binance-coin) > > [^(https://guarda.com/academy/blockchain/what-is-binance-smart-chain/?utm\\source=Reddit&utm\_medium=Social&utm\_campaign=CryptoCurrency-BSC-article)](https://guarda.com/academy/blockchain/what-is-binance-smart-chain/?utm\source=Reddit&utm_medium=Social&utm_campaign=CryptoCurrency-BSC-article) > > [^(https://www.finextra.com/blogposting/20815/binance-and-regulatory-scrutiny-changing-times-for-the-crypto-market)](https://www.finextra.com/blogposting/20815/binance-and-regulatory-scrutiny-changing-times-for-the-crypto-market) ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/tuwu8i/top_coins_binance_coin_conarguments_april_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin=) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10vmhhb/daily_general_discussion_february_7_2023_gmt0/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 12:15:22
/r/CryptoCurrency/comments/10w77q1/binance_to_distribute_5m_worth_of_bnb_to/j7ld8dh/

#Binance Coin Pro-Arguments Below is an argument written by dexe678 which won 2nd place in the Binance Coin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > My pro arguments for BNB are that, first of all, it's a must-have in your portfolio if you're using Binance: > > \- BNB vault : where you can stake your BNB for a small APY (0.35% currently), but once a new launchpool starts, you'll start accumulating new token available there. The APY is, since I joined Binance, pretty nice, I would say around 5-10%. With the launchpool, you'll receive those new tokens, and as every crypto, they can boom or get doomed :) . > > \- Launchpad : basically, let you buy new token before they get listed on Binance at a discount price. Last one was Stepn (GMT token), where you could buy the token for around $0.01. When GMT token was listed, price was around 0.15 so if you sold at that time, you already did a 1500% profit. Now sitting at 0.72, +7200%. You need to hold a high amount of BNB to benefit the more of this program, as only a portion of your BNB can be used to purchase those tokens in the launchpad program. So the more BNB you hold, the more return you'll make with this. > > \-Binance Card : Binance offers a Visa card, with cashback up to 8% on every purchase you make with the card. Once again, the more BNB you hold, the more cashback you can get, eg. if you hold 1 BNB, you'll be eligible for 2% cashback, 10 BNB offers 3%. To get 8%, you'll have to hold 600 BNB. The cashback you'll get will be paid in BNB, which you can hold to try to get an higher level of cashback, and have more to participate to the next launchpad/launchpool, or just swap/convert it to your preferred crypto. > > Binance pay : it lets you pay for good and services with your BNB, eg. pay for an hotel or even send money to a friend. > > \-Fees: if you have some BNB in your SPOT account, you can pay for every fees when you make an order with BNB, and save 25% on fees. > > \-dust convert : it let you convert any dust amount of crypto you might have after trading or withdrawing to your preferred wallet to BNB. Fees apply obviously, but at least you can do something with those 2 cents of xxx tokens instead of leaving them on your spot account. Since you pay your trading fees with BNB, those few cents cumulated can maybe be used to pay for the fees of your next order. > > > Now those are pretty cool, but what if you're not using Binance? > > Well, since its launch in 2017, BNB has been on the rise. In about 5 years, it is around 1,000,000% up. The real rise happened last year during the bull market, when on January 1st 2021, its price was sitting around $38 and went up to $686.31 in 2021 may (info from coingecko). Now we know how the market was last year, with a pretty good start of the year, a fall in may-august, then an uptrend until November, and a fall again. Even with all those events, BNB had performed very well, and managed to climb to the 3rd spot of cryptocurrencies by market cap (stable coin excluded). It has been pretty stable and is holding his seat pretty well since then unlike some other top 10 crypto. > > Last be not least, BNB can be used on DEX, Pancake swap being the preferred option there, where you can use your BNB and swap them for any token available there. Swap fees, transfer fees will be paid in BNB as BNB is the native token of the BNB chain. Fees are pretty low though. BNB is supported on a variety of wallet like Ledger, Trezor, Metamask or Trust wallet. With the last one, you have also the possibility to stake your BNB directly from the wallet. > > Thank you for coming to my Ted talk about BNB. Now, I'm gonna copy and send this to Binance and expect them to reward me generously :) ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2lxc/top_10_binance_coin_proarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin=) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 12:15:13
/r/CryptoCurrency/comments/10w77q1/binance_to_distribute_5m_worth_of_bnb_to/j7ld7mb/

* 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), [Proof of Stake](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_proof-of-stake) * Relevant subreddits: r/Algorand, r/AlgorandOfficial, r/Ethereum, r/Cardano, r/ProofOfStake. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/10w77q1/binance_to_distribute_5m_worth_of_bnb_to/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 12:15:05
/r/CryptoCurrency/comments/10w77q1/binance_to_distribute_5m_worth_of_bnb_to/j7ld7li/

Binance Coin {{pros}} & {{cons}} and related info are in the collapsed comments below. Pros and cons will change for every new post. Submit a pro/con argument in the [Cointest](https://www.reddit.com/r/CointestOfficial/wiki/cointest_policy) and potentially win [Moons](https://coinmarketcap.com/currencies/moon/). Moon prizes by award for the Top Coins category are: **1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 1000.** --- To submit a Binance Coin pro-argument, [click here](https://old.reddit.com/r/CointestOfficial/comments/tuwtz9/top_coins_binance_coin_proarguments_april_2022/). | To submit a Binance Coin con-argument, [click here](https://old.reddit.com/r/CointestOfficial/comments/tuwu8i/top_coins_binance_coin_conarguments_april_2022/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 12:15:04
/r/CryptoCurrency/comments/10w6mh0/cryptex_finances_new_index_token_to_track_top_10/j7lb0hi/

#NFT Con-Arguments Below is an argument written by noxtrifle which won 2nd place in the NFT Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > NFTs are also known as non-fungible tokens, which at a high level are smart contracts integrated with multimedia, all of which exist on the blockchain. Although they have numerous uses in the real world, NFTs are denounced by most people who are familiar with them. There are several reasons behind such sentiments: > > * **Environmental Impact** > * NFTs are primarily used on the Ethereum blockchain, so one can take that as an example when discussing their environmental impact. > * Each transaction under the current PoW system consumes 48KwH of energy, or the same energy usage as the average US household would use in [1.5 days](https://nftexplained.info/how-much-energy-does-an-nft-use/). > * There is also the [positive feedback loop](https://www.theverge.com/2021/3/15/22328203/nft-cryptoart-ethereum-blockchain-climate-change) that we can consider: as more NFTs are used (for example on Ethereum), the price of the token will increase — causing more miners to start mining Ethereum and push up emissions even more while reducing gas prices and transaction times. This could make the network (and NFTs) more popular, continuing the cycle. > * When considering that most NFT transactions are of the 'visual collectible' kind (case in point: BAYC and Reddit Avatars), this magnitude of energy usage is unnecessary and will not contribute to the redemption of NFTs in the public eye. > * **Intellectual Property Concerns** > * NFTs raise several concerns relating to copyrights and the true owners of art. > * [An example of this](https://www.gtlaw.com.au\/knowledge/ip-commercialisation-virtual-world-part-1-non-fungible-tokens-nfts) is when Miramax filed a case against Quentin Tarantino for the publication of the Pulp Fiction script as an NFT, and the true owner of the intellectual property was unclear. > * There is also the classic 'Ctrl C Ctrl V' argument, in which NFTs' copyrights can easily be infringed upon by making a free copy of the image. > * **Regulatory Concerns** > * NFTs in most major countries are unregulated and unclassified as to whether they are a security or a digital asset, which brings into question the same concerns surrounding cryptocurrencies. > * The unregulated nature of NFTs is also a barrier for law-conscious people who intend to enter the NFT market. > * **Security** > * Like anything on the blockchain, NFTs can (and will) be hacked, especially if they are of value. Attackers can target the NFT's distributors or the owners themselves, causing costly losses that in most cases are not recoverable. > * **Money Laundering** > * One could create an NFT, buy it from themselves with dirty money, and realize the profit as completely legitimate. For example, if a person made $500,000 through illegal means, they could create any type of NFT from another account and buy it with their own $500,000. > * As such, when it’s time to pay taxes, they can deny any association with the first account and [pretend that they found a buyer for their NFT.](https://complyadvantage.com/insights/nft-money-laundering-what-you-need-to-know/) > * This is largely fuelled by the fact that most NFT exchanges do not require one to verify your identity, and that one can make an infinite number of cryptocurrency wallets — enabling the potential for a similarly infinite number of cases of money laundering. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/v2jl6x/general_concepts_nft_conarguments_june_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_NFT) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10vmhhb/daily_general_discussion_february_7_2023_gmt0/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 12:00:48
/r/CryptoCurrency/comments/10w6mh0/cryptex_finances_new_index_token_to_track_top_10/j7lazov/

#NFT Pro-Arguments Below is an argument written by Blendzi0r which won 3rd place in the NFT Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > 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? [Click here](/r/CointestOfficial/comments/v2jl5l/general_concepts_nft_proarguments_june_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_NFT) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 12:00:39
/r/CryptoCurrency/comments/10w6mh0/cryptex_finances_new_index_token_to_track_top_10/j7layyy/

* 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/10w6mh0/cryptex_finances_new_index_token_to_track_top_10/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 12:00:31
/r/CryptoCurrency/comments/10w6mh0/cryptex_finances_new_index_token_to_track_top_10/j7layx4/

NFT {{pros}} & {{cons}} and related info are in the collapsed comments below. Pros and cons will change for every new post. Submit a pro/con argument in the [Cointest](https://www.reddit.com/r/CointestOfficial/wiki/cointest_policy) and potentially win [Moons](https://coinmarketcap.com/currencies/moon/). Moon prizes by award for the General Concepts category are: **1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 1000.** --- To submit an NFT pro-argument, [click here](https://www.reddit.com/r/CointestOfficial/comments/t5mmx5/general_concepts_nft_proarguments_march_2022/). | To submit an NFT con-argument, [click here](https://www.reddit.com/r/CointestOfficial/comments/t5mmxu/general_concepts_nft_conarguments_march_2022/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 12:00:31
/r/CryptoCurrency/comments/10w3xjw/south_korean_officials_traveled_to_serbia_to/j7layt7/

#Terra Con-Arguments Below is an argument written by excalilbug which won 2nd place in the Terra Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > I wonder if there is any point to list Luna 2.0 cons > > I think people who are going to invest their money into it don't read anything anyway > > But here it goes anyway... > > **Luna 2.0 is a ponzi scheme** > > Terra Luna 2.0 is of course a "child" of original Terra Luna (now called Classic). Terra Luna died in a tragic crash early this year and Terra Luna 2.0 is supposed to carry on its legacy. But its legacy is simply a ponzi scheme > > The biggest ponzi scheme in history was that of Bernie Madoff. He lost/stole around 65 BILLION dollars from people. In 2022 Terrra Luna founder, Do Kwon, was on the wat to beat this record but decided 40 billion will be enough > > For comparison - Bitconnect market cap was "just" 3 billion when it crashed > > **Most projects abandoned Luna because of Do Kwon who is a fraud and should be put in jail** > > Of course after the crash most projects left Luna and they are not coming back to Luna 2.0 > > Because how can anyone with a at least quarter of a brain trust another blockchain made by Do Kwon? This guy is being searched for by the Korean police and there are many lawsuits against him. Lots of people lost their life savings because of him and many (some of them legit, believing that Luna is legit too!) projects based on Luna failed > > Whats more (and what's terrible!) - he is also responsible for people taking their own lives... > > **Most people also don't trust Do Kwon anymore** > > Since the launch on 27 May 2022, this new Luna has gone down from 20+ dollars to 2 dollars which pretty much confirms that people dont believe in this blockchain anymore and only the last LUNATICS are left on board > > What's more (and what's terrible!) - when this new coin was distributed, if someone had their coins on exchanges, other protocols or wrapped on the day of snapshot, they would not receive new coins lol > > **Do Kwon is still pulling the strings and Luna 2.0 has less to offer than first Luna** > > Thats not all. When Do Kwon posted his "Terra Ecosystem Revival Plan" he ignored all good propositions and said that his idea is final. Very OK thing to do when you claim your coin is a governance coin lol (sorry for the lols, I know you want those entries to be more technical and more serious but how do you expect people to be serious about Luna 2 xD) > > New Luna doesnt have its UST. And its no secret that the success of Luna was based on UST. People believed that crazy yields are legit and that the "the more UST is used the more Luna is worth" is somekind of flawless perpetuum mobile... > > So... if you want to put your money into Luna 2.0 you have to be a true lunatic... ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/wdgtyd/coin_inquiries_terra_luna_20_conarguments_august/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive##wiki_terra.28luna.29) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10vmhhb/daily_general_discussion_february_7_2023_gmt0/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 12:00:30
/r/CryptoCurrency/comments/10w3xjw/south_korean_officials_traveled_to_serbia_to/j7laxy3/

#Terra Pro-Arguments Below is an argument written by Far-Scholar9028 which won 3rd place in the Terra Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > The fall of Terra, a formerly billion-dollar ecosystem of digital assets, in May 2022 may have been the greatest token crash in the history of cryptocurrency. The largest algorithmic stablecoin in the world, UST, and its companion token LUNA, which was meant to keep UST's price stable, fell to almost nothing in value within a week. Proposal 1623 would decide the fate of Do Kwon's Terraform Labs company on May 25th, 2022. The community's plan to reconstruct Terra Network was put to the vote by Terra Luna owners, and it received a strong 65.5% "yes" vote. Old LUNA was to be renamed as Luna Classic (LUNC), and the new LUNA 2.0 coin was to be airdropped to LUNC holders after the LUNA token's value plummeted from $120 to roughly $0.00023. > > **Luna2.0 Pros** > > **No mint and burn mechanism in Luna2.0** > > As the downfall of LUNA was the manipulation of the mint and burn algorithm that was in place, LUNA2.0 has made that redundant via proposal 29. In order to safeguard Anchor from attacks, proposal 29 proposed freezing its earn and borrow features. However, until a governance vote unlocks it or forks it, users would still be able to withdraw their money. > > **Fair Airdrop Distribution** > > To ensure a fair distribution, the pre attack snapshot was taken on May 7. So here is the breakdown of how Luna2.0 was airdropped to the holders. > > Luna 1.0 holders (30%) > > * Wallets with less than $10k were subject to six month cliff then two year vesting period > > * Wallets with less than $1M were subject to one year cliff, then two year vesting period > > * Wallets with more than $1M were subject to one year cliff, then four year vesting period > > * Post attack Luna1.0 holders got 10% distribution subject to six month cliff and 2 year vesting period > > * Pre attack UST holders get 10% distribution subject to six month cliff and 2 year vesting period > > * Post attach UST holders get 15% distribution subject to six month cliff and 2 year vesting period ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/wdgu4t/coin_inquiries_terra_luna_20_proarguments_august/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive##wiki_terra.28luna.29) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 12:00:21
/r/CryptoCurrency/comments/10w3xjw/south_korean_officials_traveled_to_serbia_to/j7lawz9/

* Relevant Cointest topics: [Tether](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_tether), [Dai](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_dai). * Relevant subreddits: r/TeraLuna, r/DeFi, r/Tether, r/MakerDAO, r/Ripple. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/10w3xjw/south_korean_officials_traveled_to_serbia_to/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 12:00:11
/r/CryptoCurrency/comments/10w3xjw/south_korean_officials_traveled_to_serbia_to/j7laww1/

Terra(LUNA) {{pros}} & {{cons}} and related info are in the collapsed comments below. Pros and cons will change for every new post.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 12:00:10
/r/CryptoCurrency/comments/10w6ayh/be_part_of_the_largest_collaborative_nft_creation/j7l8mdl/

#NFT Con-Arguments Below is an argument written by noxtrifle which won 2nd place in the NFT Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > NFTs are also known as non-fungible tokens, which at a high level are smart contracts integrated with multimedia, all of which exist on the blockchain. Although they have numerous uses in the real world, NFTs are denounced by most people who are familiar with them. There are several reasons behind such sentiments: > > * **Environmental Impact** > * NFTs are primarily used on the Ethereum blockchain, so one can take that as an example when discussing their environmental impact. > * Each transaction under the current PoW system consumes 48KwH of energy, or the same energy usage as the average US household would use in [1.5 days](https://nftexplained.info/how-much-energy-does-an-nft-use/). > * There is also the [positive feedback loop](https://www.theverge.com/2021/3/15/22328203/nft-cryptoart-ethereum-blockchain-climate-change) that we can consider: as more NFTs are used (for example on Ethereum), the price of the token will increase — causing more miners to start mining Ethereum and push up emissions even more while reducing gas prices and transaction times. This could make the network (and NFTs) more popular, continuing the cycle. > * When considering that most NFT transactions are of the 'visual collectible' kind (case in point: BAYC and Reddit Avatars), this magnitude of energy usage is unnecessary and will not contribute to the redemption of NFTs in the public eye. > * **Intellectual Property Concerns** > * NFTs raise several concerns relating to copyrights and the true owners of art. > * [An example of this](https://www.gtlaw.com.au\/knowledge/ip-commercialisation-virtual-world-part-1-non-fungible-tokens-nfts) is when Miramax filed a case against Quentin Tarantino for the publication of the Pulp Fiction script as an NFT, and the true owner of the intellectual property was unclear. > * There is also the classic 'Ctrl C Ctrl V' argument, in which NFTs' copyrights can easily be infringed upon by making a free copy of the image. > * **Regulatory Concerns** > * NFTs in most major countries are unregulated and unclassified as to whether they are a security or a digital asset, which brings into question the same concerns surrounding cryptocurrencies. > * The unregulated nature of NFTs is also a barrier for law-conscious people who intend to enter the NFT market. > * **Security** > * Like anything on the blockchain, NFTs can (and will) be hacked, especially if they are of value. Attackers can target the NFT's distributors or the owners themselves, causing costly losses that in most cases are not recoverable. > * **Money Laundering** > * One could create an NFT, buy it from themselves with dirty money, and realize the profit as completely legitimate. For example, if a person made $500,000 through illegal means, they could create any type of NFT from another account and buy it with their own $500,000. > * As such, when it’s time to pay taxes, they can deny any association with the first account and [pretend that they found a buyer for their NFT.](https://complyadvantage.com/insights/nft-money-laundering-what-you-need-to-know/) > * This is largely fuelled by the fact that most NFT exchanges do not require one to verify your identity, and that one can make an infinite number of cryptocurrency wallets — enabling the potential for a similarly infinite number of cases of money laundering. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/v2jl6x/general_concepts_nft_conarguments_june_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_NFT) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10vmhhb/daily_general_discussion_february_7_2023_gmt0/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 11:45:22
/r/CryptoCurrency/comments/10w6ayh/be_part_of_the_largest_collaborative_nft_creation/j7l8ll8/

#NFT Pro-Arguments Below is an argument written by Blendzi0r which won 3rd place in the NFT Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > 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? [Click here](/r/CointestOfficial/comments/v2jl5l/general_concepts_nft_proarguments_june_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_NFT) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 11:45:14
/r/CryptoCurrency/comments/10w6ayh/be_part_of_the_largest_collaborative_nft_creation/j7l8kqg/

* 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/10w6ayh/be_part_of_the_largest_collaborative_nft_creation/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 11:45:05
/r/CryptoCurrency/comments/10w6ayh/be_part_of_the_largest_collaborative_nft_creation/j7l8kp5/

NFT {{pros}} & {{cons}} and related info are in the collapsed comments below. Pros and cons will change for every new post. Submit a pro/con argument in the [Cointest](https://www.reddit.com/r/CointestOfficial/wiki/cointest_policy) and potentially win [Moons](https://coinmarketcap.com/currencies/moon/). Moon prizes by award for the General Concepts category are: **1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 1000.** --- To submit an NFT pro-argument, [click here](https://www.reddit.com/r/CointestOfficial/comments/t5mmx5/general_concepts_nft_proarguments_march_2022/). | To submit an NFT con-argument, [click here](https://www.reddit.com/r/CointestOfficial/comments/t5mmxu/general_concepts_nft_conarguments_march_2022/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 11:45:04
/r/CryptoCurrency/comments/10w5sg5/id_verification_on_coinbase/j7l6fg3/

#USDC Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the USDC Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > First published on: [30.09.2021](https://www.reddit.com/r/CryptoCurrency/comments/og2nfy/comment/hewkfxw/?utm_source=share&utm_medium=web2x&context=3) > > Last edited on: *no edits yet* > > # Intro > > USD Coin (USDC) is a digital dollar – a stablecoin pegged to US dollar. Stablecoins are a type of cryptocurrency with a value fixed to other assets (usually assets outside of the cryptocurrency space, e.g. fiat currencies, precious metals, etc.). Their main purposes are: 1) help investors escape the volatility of the cryptocurrency market and 2) allow investors to buy cryptocurrencies on exchanges that do not offer fiat deposits. USDC is currently the second largest stablecoin. \[1\], \[2\], \[3\] > > # Cons > > **It’s centralized** > > Decentralization is one of the core principles of crypto industry. USDC is centralized. Centre (nomen omen), the consortium that is responsible for USDC, can freeze anyone’s USDC assets whenever they want to. In 2020, they blacklisted an address and froze $100,000 in USDC in response to a request from law enforcement \[4\]. In this case, the freezing of assets was the right thing to do but nothing stops Centre from freezing assets in more controversial circumstances. > > ​ > > **It has fewer trading pairs and blockchains than tether** > > USDC announced in June 2021 that it wants to expand to 10 more blockchains in the near future \[5\]. But as of now, it’s present on 5 blockchains (Ethereum, Algorand, Solana, Stellar and Tron) whereas USDT, its main competitor, is available on 8 blockchains. \[6\] > > USDC is even more pale in comparison to USDT when it comes to the number of available trading pairs. There are barely any coins that aren’t paired with USDT, when USDC usually allows to buy only the most popular coins. > > ​ > > **Is it really that transparent?** > > Circle claimed in the past that all USD Coins are backed 1:1 against US dollar (cash). This is not the case anymore. And while people praise USDC for being more transparent than Tether and having better, more reliable reserve composition, just until recently Tether was completely nontransparent and lied about its reserves, so it’s hard to look bad when compared to Tether. > > Circle isn’t in fact that transparent. For example, they don’t disclose too much information about funds referred to as “approved investments”. **We don’t know how risky those investments are.** USDC has licenses in most of the states in the US. Some of those states have absolutely no restrictions and if Circle operates under the license from one of those states, it can invest in anything it wants. \[7\] > > Also, if you compare USDC’s breakdowns to e.g. breakdowns of banks or other financial institutions, it’s clear that **there’s room for much more transparency**. Take a look at e.g. JP Morgan’s breakdown: [https://am.jpmorgan.com/us/en/asset-management/adv/products/jpmorgan-prime-money-market-fund-morgan-4812a2702#/portfolio](https://am.jpmorgan.com/us/en/asset-management/adv/products/jpmorgan-prime-money-market-fund-morgan-4812a2702#/portfolio) > > This breakdown includes a lot of more details. You can check the issuer, market value, CUSIP number, effective maturity and so on **for each asset**. This kind of information is absent in USDC’s breakdowns. > > ​ > > **There are more transparent stablecoins and stablecoins that are fully backed by cash** > > There are other stablecoins which are transparent and release independent, monthly audit reports about their backing. But what is more important – **there are stablecoins that are fully backed by cash**. Gemini USD (GUSD) or TrueUSD (TUSD) are two examples. \[8\] > > Also, Tether is often criticized for being a very small company with very few employees and yet managing billions in assets. However, **Center had only one employee** since December 2020 to March 2021 – its CEO. Currently, it hires 6 people. \[9\] > > ​ > > **Regulatory risk** > > Recently, regulatory activities have been accelerating. Gary Gensler, the head of the Security and Exchanges Commission (SEC) has asked for more authority to regulate cryptocurrency with the focus on stablecoins. > > Moreover, Fed Chairman Jerome Powell has said that a U.S. **central bank digital currency could eliminate the need for stablecoins like USDC**. And since USDC is a centralized stablecoin, a regulatory crackdown and a US CBDC could drive out USDC. > > **\_\_\_\_\_\_\_\_\_\_** > > **^(Sources:)** > > ^(\[1\]) [^(https://f.hubspotusercontent30.net/hubfs/9304636/PDF/centre-whitepaper.pdf)](https://f.hubspotusercontent30.net/hubfs/9304636/PDF/centre-whitepaper.pdf) > > ^(\[2\]) [^(https://en.wikipedia.org/wiki/USD\\Coin)](https://en.wikipedia.org/wiki/USD\Coin) > > ^(\[3\]) [^(https://en.wikipedia.org/wiki/Stablecoin)](https://en.wikipedia.org/wiki/Stablecoin) > > ^(\[4\]) [^(https://www.coindesk.com/markets/2020/07/08/circle-confirms-freezing-100k-in-usdc-at-law-enforcements-request/)](https://www.coindesk.com/markets/2020/07/08/circle-confirms-freezing-100k-in-usdc-at-law-enforcements-request/) > > ^(\[5\]) [^(https://www.centre.io/blog/announcing-usdc-on-ten-new-blockchain-platforms)](https://www.centre.io/blog/announcing-usdc-on-ten-new-blockchain-platforms) > > ^(\[6\]) [^(https://www.circle.com/en/multichain-usdc)](https://www.circle.com/en/multichain-usdc) > > ^(\[7\] htps://assets.ctfassets.net/jg6lo9a2ukvr/3U43d7lUPmunUNLa0f9xui/24e439e3040c92179245485ebd1b5ba1/Gemini\\Dollar\_Examination\_Report\_08-31-21.pdf) > > ^(\[8\]) [^(https://www.coindesk.com/markets/2021/07/06/circle-isnt-winning-the-stablecoin-transparency-race/)](https://www.coindesk.com/markets/2021/07/06/circle-isnt-winning-the-stablecoin-transparency-race/) > > ^(\[9\]) [^(https://www.coindesk.com/business/2021/08/30/centre-consortium-hires-six-employees-including-former-circle-robinhood-executives/)](https://www.coindesk.com/business/2021/08/30/centre-consortium-hires-six-employees-including-former-circle-robinhood-executives/) ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2moj/top_10_usd_coin_conarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_USD_Coin) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10vmhhb/daily_general_discussion_february_7_2023_gmt0/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 11:31:00
/r/CryptoCurrency/comments/10w5sg5/id_verification_on_coinbase/j7l6eng/

#USDC Pro-Arguments Below is an argument written by I-play-too-much-PUBG which won 3rd place in the USDC Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > USDC is the best stablecoin and here is why. > > > > > > > 1. USDC is transparent. Nothing is hidden in USDC due to its publicly verifiable attestations. This means it is much harder for criminal activity such as money laundering to occur. > > > > > 2. USDC is safe. USDC is backed by (debatably) the strongest economy in the world unlike some other stablecoins such as BUSD or DAI. USDC is only truly comparable to other US dollar backed coins such as USDT. > > > > > With that argument someone might say that USDT is also backed by the US dollar. With that, I follow with another argument. > > > > > 3. Due to the transparency and security of USDC, there is little to no “fairy money” or creation of cryptocurrency without being backed by anything. This is the strongest reason why USDC is superior to USDT. > > > > > > > 4. Although USDC is backed by the US dollar (centralized) it actually supports defi. USDC is an ERC-20 based token therefore it can be used by any dApp built on the ethereum network. > > > > > > In conclusion, USDT is currently used more and has a higher market cap than USDC, but USDC has stronger infrastructure and is more likely to be used largely in the future due to it being in support of defi. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mln/top_10_usd_coin_proarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_USD_Coin) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 11:30:52
/r/CryptoCurrency/comments/10w5sg5/id_verification_on_coinbase/j7l6dyf/

* Relevant Cointest topics: [USD Coin](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_usd_coin), [XRP](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_ripple), [Stellar](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_stellar), [CBDC](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_cbdc). * Relevant subreddits: r/Coinbase, r/Binance, r/Tether. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/10w5sg5/id_verification_on_coinbase/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 11:30:44
/r/CryptoCurrency/comments/10w5sg5/id_verification_on_coinbase/j7l6dx5/

USDC {{pros}} & {{cons}} and related info are in the collapsed comments below. Pros and cons will change for every new post.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 11:30:43
/r/CryptoCurrency/comments/10w5t1q/former_coinbase_manager_pleads_guilty_to_insider/j7l6dtj/

#USDC Con-Arguments Below is an argument written by madpanda94 which won 3rd place in the USDC Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > My analysis comes from a post from 1 month ago written by me [https://www.reddit.com/r/CryptoCurrency/comments/pkita5/knowyourcrypto\_8\_september\_8\_2021\_usd\_coin\_usdc/](https://www.reddit.com/r/CryptoCurrency/comments/pkita5/knowyourcrypto_8_september_8_2021_usd_coin_usdc/) > > # What is it? > > USD Coin is a stable coin, which is a cryptocurrency that has the same value as a classic currency, in this case the US dollar. It is a similar project, in several ways, to other stable coins. It is also the stable coin managed directly by the Coinbase and Coinbase PRO exchanges, one of the most important exchanges in the world. USD Coin, as it should be more than clear from the name, is pegged to the dollar. What does this mean? It means that the value of a USDC token will always be equal to the value of one dollar. We will always be able to convert (we will see the special cases later) a token of this type into dollars. As we can then see on the main markets that change it, the price can fluctuate very slightly with respect to that of the dollar, generally in the order of thousandths of a percentage. These are very small variations that are mostly dependent on the small inefficiencies that can be created on the market. Perhaps one of the best qualities of USDC is that it is controlled by a consortium, in which partecipate several players in the cryptocurrency industry. It was in fact founded by Circle, and today also hosts the popular Coinbase exchange, and the mining company Bitmain, which is one of the largest investors in Circle. An internal project? No. A project that today has behind it the most serious groups circulating in the world of cryptocurrencies. > > > # How does it work? > > Like all stable coins, USD Coin also has as its main use to act as a counter value on high-frequency exchanges, obviously being tokenized. Therefore, its first use is to act as a counterparty in the negotiations that take place within the main exchanges. Coinbase aims to use it as a means of payment, offering free wallets and above all the possibility for everyone to exchange a crypto with a stable value expressed in dollars without the delays and costs that are instead connected to classic banking. USD Coin is a ERC-20 token, which is a token that is compatible with the Ethereum blockchain. A choice of this type has proved to be a winning one over time because the Ethereum network today offers reliability and allows this stable token, USDC, to be used in many decentralized finance projects. USDC is not mined, that means it is not created by solving very complicated algorithmic calculations. In fact this product is issued on demand. Anyone who buys USDC from Coinbase will have new ones delivered and never released. The doubt in this case is that Coinbase, as well as the other agents involved in the project, can issue more money than they will actually be able to convert one day. This problem can be overcome, provided that the exchange actually has US dollars or equivalent in cash. > > > # Where to store it? > > The best hot wallets for USD Coin are Coinbase Wallet, TrustWallet and Atomic Wallet. If you want more security, a cold storage like Ledger or Trezor is the right choice. > > > # Pros&Cons > > \*DISCLAIMER\* These lists are subjective, it depends from person to person > > **Pros** > > > 1. Solid backers > > 2. Useful > > 3. Future projects > > **Cons** > > 4. High competition ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz48y3/rcc_cointest_top_10_usd_coin_conarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_USD_Coin) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10vmhhb/daily_general_discussion_february_7_2023_gmt0/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 11:30:42
/r/CryptoCurrency/comments/10w5t1q/former_coinbase_manager_pleads_guilty_to_insider/j7l6d2d/

#USDC Pro-Arguments Below is an argument written by Blendzi0r which won 1st place in the USDC Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > First published on: [30.09.2021](https://www.reddit.com/r/CryptoCurrency/comments/og2jo1/comment/hewg10a/?utm_source=share&utm_medium=web2x&context=3) > > Last edited on: 31.03.2021 > > # Intro > > USD Coin (USDC) is a digital dollar – a stablecoin pegged to US dollar. Stablecoins are a type of cryptocurrency with a value fixed to other assets (usually assets outside of the cryptocurrency space, e.g. fiat currencies, precious metals, etc.). Their main purposes are: 1) help investors escape the volatility of the cryptocurrency market and 2) allow investors to buy cryptocurrencies on exchanges that do not offer fiat deposits. USDC is currently the second largest stablecoin. ^(\[1\], \[2\], \[3\]) > > # Pros > > **It’s backed mostly by cash and cash equivalents** > > It must be admitted that Tether has improved its reserves a lot since their first report and their latest breakdown looks much better as USDT is now backed by cash and cash equivalents in around 85%, but USDC is still ahead as its **reserves are backed by cash and cash equivalents in 92%**. There are also many more questions in regards to the credibility of Tether’s reports. ^(\[4\], \[5\]) And USDC may soon leave Tether far behind as Circle, the company that issues and backs USDC, stated that it wants the reserves to consist only of cash, cash equivalents and U.S. Treasury bonds in the near future. ^(\[6\]) > > What the stablecoin reserves consist of is extremely important for liquidity. If a lot of people decided to cash out at the same time and there was no liquidity it could end in a disaster for the whole market. > > ​ > > **It’s partnered with Coinbase, Visa and others** > > Circle has partnered with Coinbase and together they founded a consortium named Centre that governs USDC. Circle has also partnered with banking institutions, including Signature Bank and Visa. The companies that invested in Circle include **Goldman Sachs**, Digital Currency Group (**Grayscale** Investments), **Fidelity** and **FTX**. > > It is also worth mentioning that Circle wants to follow in the footsteps of their partners (Coinbase) and also become a publicly traded company, which would add even more credibility to USDC. ^(\[7\]) > > ​ > > **It’s transparent** > > USDC is transparent in terms of its financial operations. It follows the US laws closely. It is also **audited by Grant Thornton, LLP every month** and monthly reports can be found on the [Centre Consortium’s website](https://www.centre.io/usdc-transparency). The reports, of course, include information on USDC reserves. > > ​ > > **It’s growing rapidly** > > At the beginning of the year, USDT had a 5 times bigger market cap than USDC ($20B vs. $4B). In March2021, this difference is much smaller and USDC has almsot 2/3 of the USDT's amrket cap. One can argue that this difference is still significant but be aware that **between April 2021 and April 2022 market cap of USDC grew by 400% while Tether’s market cap grew by 100%.** > > Also, while USDT’s daily volume decreased, USDC’s volume is on a rise. > > ​ > > **Coinsmart replaces Tether with USDC** > > On September 15, 2021, Coinsmart, Canadian cryptocurrency exchange, delisted USDT and adopted USDC instead ^(\[8\]). As regulators take a closer look at stablecoins, this trend might continue and **more entities might drop Tether in favor of a more transparent stablecoins.** > > ​ > > **USDC is centralized. But is it so bad in the case of a stablecoin?** > > Those who criticize USDC and other centralized stablecoins often give the example of DAI which in their opinion is decentralized. There is no question about USDC being dependent on Centre, but it must be said that DAI, on the other hand, is heavily dependent on USDC - more than half of DAI is generated by USDC collateral and collateralizetion against Centre’s stablecoin is more than 25%. ^(\[10\]) > > Decentralization is essential for cryptocurrency. But so is replacing fiat. So, is decentralization that important in the case of a stablecoin anyway? > > \_\_\_\_\_\_\_\_\_\_\_ > > **^(Sources:)** > > ^(\[1\]) [^(https://f.hubspotusercontent30.net/hubfs/9304636/PDF/centre-whitepaper.pdf)](https://f.hubspotusercontent30.net/hubfs/9304636/PDF/centre-whitepaper.pdf) > > ^(\[2\]) [^(https://en.wikipedia.org/wiki/USD\\Coin)](https://en.wikipedia.org/wiki/USD\Coin) > > ^(\[3\]) [^(https://en.wikipedia.org/wiki/Stablecoin)](https://en.wikipedia.org/wiki/Stablecoin) > > ^(\[4\]) [^(https://www.centre.io/hubfs/pdfs/attestation/2021%20Circle%20Examination%20Report%20August%202021%20Final.pdf?hsLang=en)](https://www.centre.io/hubfs/pdfs/attestation/2021%20Circle%20Examination%20Report%20August%202021%20Final.pdf?hsLang=en) > > ^(\[5\]) [^(https://tether.to/wp-content/uploads/2021/08/tether\\assuranceconsolidated\_reserves\_report\_2021-06-30.pdf)](https://tether.to/wp-content/uploads/2021/08/tether\assuranceconsolidated_reserves_report_2021-06-30.pdf) > > ^(\[6\]) [^(https://www.cnbc.com/2021/08/23/crypto-usdc-stablecoin-to-change-reserves-composition.html)](https://www.cnbc.com/2021/08/23/crypto-usdc-stablecoin-to-change-reserves-composition.html) > > ^(\[7\]) [^(https://fortune.com/2021/05/28/crypto-startup-circle-fidelity-ftx-stablecoin-usdc-coinbase-funding-spac/)](https://fortune.com/2021/05/28/crypto-startup-circle-fidelity-ftx-stablecoin-usdc-coinbase-funding-spac/) > > ^(\[8\]) [^(https://nitter.net/CoinSmart/status/1433472681626722309)](https://twitter.com/CoinSmart/status/1433472681626722309) > > ^(\[9\]) [^(https://www.coinsmart.com/blog/what-is-usdc/)](https://www.coinsmart.com/blog/what-is-usdc/) > > ^(\[10\]) [^(https://daistats.com/#/)](https://daistats.com/#/) ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mln/top_10_usd_coin_proarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_USD_Coin) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 11:30:34
/r/CryptoCurrency/comments/10w5t1q/former_coinbase_manager_pleads_guilty_to_insider/j7l6caf/

* Relevant Cointest topics: [USD Coin](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_usd_coin), [XRP](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_ripple), [Stellar](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_stellar), [CBDC](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_cbdc). * Relevant subreddits: r/Coinbase, r/Binance, r/Tether. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/10w5t1q/former_coinbase_manager_pleads_guilty_to_insider/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 11:30:25
/r/CryptoCurrency/comments/10w5t1q/former_coinbase_manager_pleads_guilty_to_insider/j7l6c9l/

USDC {{pros}} & {{cons}} and related info are in the collapsed comments below. Pros and cons will change for every new post.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 11:30:25
/r/CryptoCurrency/comments/10w63uu/wazirx_calls_binance_allegations_false_and/j7l6c4g/

#Binance Coin Con-Arguments Below is an argument written by cryotosensei which won 2nd place in the Binance Coin Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > > > 1. BNB has attracted some negative press. In June 2022, the SEC announced its intention to investigate whether Binance sold it as an unregistered security during the initial coin offering in 2017. Depending on how the investigation evolves, the price movement of BNB could be impacted negatively. > 2. BNB is the native token of Binance and is designed for use in the Binance ecosystem. However, in June 2021, Binance Markets Limited - a legal entity affiliated with Binance - was forbidden by the Financial Conduct Authority, the UK’s financial regulator to conduct regulated activities in the U.K. Similarly, in September 2021, Binance fell out of flavour with the Monetary Authority of Singapore (MAS) as it prohibited Binance from providing payment services and soliciting business from Singapore residents. Likewise, Binance is not allowed to do business in Japan. While Binance plans to relaunch its operations in the U.K. in the near future, it is still facing regulatory woes in other countries. If BNB is not globally adopted, it may face limitations in terms of how high its price can soar. > 3. BNB runs on the Binance Smart Chain (BSC), which is susceptible to rug pulls. In 2021, 73,000 BNB was drained from Meerkat Finance, a yield farming protocol. That same year, TurtleDex absconded with 9,000 BNB shortly after its launch. In 2022, the TopGoal project team cheated their investors of more than 2,660 BNB. Rug pulls happen so frequently on the BSC chain that the attitude of “use at your own risk” has come to be associated with BNB. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/tuwu8i/top_coins_binance_coin_conarguments_april_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin=) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10vmhhb/daily_general_discussion_february_7_2023_gmt0/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 11:30:24
/r/CryptoCurrency/comments/10w63uu/wazirx_calls_binance_allegations_false_and/j7l6bbk/

#Binance Coin Pro-Arguments Below is an argument written by Blendzi0r which won 1st place in the Binance Coin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > First published on: [24.09.2021](https://www.reddit.com/r/CryptoCurrency/comments/og29w6/comment/he4x6yb/?utm_source=share&utm_medium=web2x&context=3) > > Last edited on: 15.06.2022 > > # Intro > > Binance Coin (BNB) was launched in July 2017 and it was initially an ERC-20 token on Ethereum. In April 2019, it moved to its own blockchain called Binance Chain. Today, it operates on two blockchains, the other one being Binance Smart Chain. The coin is issued, developed and maintained by the biggest cryptocurrency exchange – Binance. > > # Pros > > **IT IS BACKED BY BINANCE** > > Binance Coin is maintained by Binance, a cryptocurrency giant. Binance is currently the biggest cryptocurrency exchange in the world. Its transaction volume is [roughly 6 times higher](https://www.statista.com/statistics/864738/leading-cryptocurrency-exchanges-traders/) on average than that of Coinbase. Binance makes sure that BNB finds more and more utility within their ecosystem. > > Backing of such a massive company should give investors a lot of confidence even though Binance is lately under an intensified regulatory scrutiny. But the company declares that it is doing its best to comply with all the regulations. They're working on a stricter KYC and they’re also expanding the legal and compliance teams by hiring many experts in the field. > > The co-operation between Binance and regulators was demonstrated when the exchange [limited its services for people from Russia](https://www.binance.com/en/support/announcement/4887e569afdf4b1e89e024371d3a49b9). > > **IT GIVES YOU DISCOUNTS ON BINANCE** > > One of the reasons why Binance is so popular is the fact that their [transaction fees are among the lowest](https://www.binance.com/en/support/faq/115000583311). Users pay just 0.1% for most popular types of trades, whereas on e.g. Coinbase (Pro) it’s 5 times more – [0.5%](https://help.coinbase.com/en/pro/trading-and-funding/trading-rules-and-fees/fees). One of the benefits of BNB is making those fees even lower – by as much as 25%. **Using BNB to pay for transaction fees can save you up to 1/4 of your money** on transactions. It’s a big incentive to hold some BNB. > > **IT IS DEFLATIONARY** > > In 2021, Binance implemented two important changes to BNB burning mechanism. > > First, [Bruno Upgrade v1.1.5](https://www.binance.org/en/blog/binance-smart-chain-bruno-upgrade-v1-1-5/) took place on 30 November. It introduced real-time burning mechanism. It is similar to [ETH London Upgrade](https://medium.com/@eric.conner/fixing-the-ethereum-fee-market-eip-1559-9109f1c1814b) \- some of the gas fee collected by validators is burned. As of 15 June 2022, [more than 90 000 BNB were burned](https://twitter.com/BurnBNB). > > Furthermore, on 23 December 2021, Binance announced and implemented **BNB** **Auto-Burn** protocol. It replaces quarterly burns which were based on the profits Binance made (they committed 20% of their profit to buy back BNB and then burn it. There were [17 quarterly burns](https://www.binance.com/en/blog/ecosystem/17th-bnb-burn-%7C-quarterly-highlights-and-insights-from-cz-421499824684902908)). Now, the process is automated, which makes it more transparent and predictable. The core idea has not been changed, however, the process will stop when the number of BNB coins in circulation is lower than 100 million. > > **MANY TRADING PAIRS, STAKING, FARMING AND OTHER USES** > > As an official coin of Binance, BNB also offers a **multitude of trading pairs**. All transactions made with BNB are lightning **fast and secure** since it’s based on one of the most secure blockchains – Ethereum. > > There are also many options of **staking** BNB on Binance for a very good APY or participating in **Launchpools** (farming new tokens) and **Launchpads** (Initial Exchange Offerings (IEO) - buying new tokens). > > BNB is **accepted by some service providers**, e.g. HTC, trip.io, travala.com, BitTorrent or PureVPN. > > Last but not least, BNB can be used to convert “leftovers”. Very often when you sell a coin, a very small amount of it is left in your wallet. On Binance, you can **convert small amounts of coins** (called “dust”) into BNB. > > **TWO BLOCKCHAINS THAT WORK SIMULTANEOUSLY** > > BNB operates on two chains, the above mentioned **Binance Chain** and **Binance Smart Chain** (BSC) which was launched in September 2020. While Binance Chain is responsible for transactions made on Binance DEX, BSC was designed specifically for smart contracts, DeFi and dApps. It quickly became **one of the biggest blockchains**. It is compatible with Ethereum allowing other projects to transfer easily from ETH to BSC and escape high gas fees on ETH. > > This dual blockchain approach combined with the **Proof of Staked Authority** consensus algorithm (a mix of share proof and authority proof) makes it much more scalable than Ethereum and enables faster and cheaper transactions. While Ethereum runs around 9 000 nodes/validators (before the software bug back in the end of August 2021), BSC needs only 21 validators. > > It is also worth pointing out that Binance allocated $100 million for projects that launch on BSC. > > **DECENTRALIZATION AT ALL COST?** > > The main argument against BNB is that it is centralized. And it’s impossible to deny the fact that BNB indeed is centralized compared to Ethereum and many other projects. But every stick has two ends. This is what Changpeng Zhao, Binance CEO, has to say about (de)centralization: > > [Many people think of decentralization as absolute; you are either decentralized or not. I think that in reality, there is a gradient scale from centralization to decentralized. Often, a better question is: how decentralized should we (exchanges, societies) be, now and in the future? If decentralization simply increases freedom but decreases security and ease-of-use, there is a point where it becomes a net negative, and may not be worth it.](https://www.binance.com/en/blog/from-cz/cz-on-centralization-vs-decentralization-301982828007075840) > > If decentralization is also about freedom of choice, then maybe being able to choose a centralized blockchain(s) should be accepted. > > \_\_\_\_\_\_\_\_\_\_\_\_\_\_ > > **^(Additional sources:)** > > [^(https://www.binance.com/en/bnb#COIN-BURN)](https://www.binance.com/en/bnb#COIN-BURN) > > [^(https://www.binance.com/en/bnb#BNB-RIGHT)](https://www.binance.com/en/bnb#BNB-RIGHT) > > [^(https://www.binance.com/en/support/announcement/2af5831727164545b8a2c665fae8bc04)](https://www.binance.com/en/support/announcement/2af5831727164545b8a2c665fae8bc04) > > [^(https://finance.yahoo.com/news/binance-coin-bnb-why-interesting-110049570.html)](https://finance.yahoo.com/news/binance-coin-bnb-why-interesting-110049570.html) > > [^(https://www.investopedia.com/terms/b/binance-coin-bnb.asp)](https://www.investopedia.com/terms/b/binance-coin-bnb.asp) > > [^(https://trading-education.com/pros-and-cons-of-investing-in-binance-coin)](https://trading-education.com/pros-and-cons-of-investing-in-binance-coin) > > [^(https://guarda.com/academy/blockchain/what-is-binance-smart-chain/?utm\\source=Reddit&utm\_medium=Social&utm\_campaign=CryptoCurrency-BSC-article)](https://guarda.com/academy/blockchain/what-is-binance-smart-chain/?utm\source=Reddit&utm_medium=Social&utm_campaign=CryptoCurrency-BSC-article) > > [^(https://www.finextra.com/blogposting/20815/binance-and-regulatory-scrutiny-changing-times-for-the-crypto-market)](https://www.finextra.com/blogposting/20815/binance-and-regulatory-scrutiny-changing-times-for-the-crypto-market) ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/tuwtz9/top_coins_binance_coin_proarguments_april_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin=) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 11:30:15
/r/CryptoCurrency/comments/10w63uu/wazirx_calls_binance_allegations_false_and/j7l6ae2/

Binance Coin {{pros}} & {{cons}} and related info are in the collapsed comments below. Pros and cons will change for every new post. Submit a pro/con argument in the [Cointest](https://www.reddit.com/r/CointestOfficial/wiki/cointest_policy) and potentially win [Moons](https://coinmarketcap.com/currencies/moon/). Moon prizes by award for the Top Coins category are: **1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 1000.** --- To submit a Binance Coin pro-argument, [click here](https://old.reddit.com/r/CointestOfficial/comments/tuwtz9/top_coins_binance_coin_proarguments_april_2022/). | To submit a Binance Coin con-argument, [click here](https://old.reddit.com/r/CointestOfficial/comments/tuwu8i/top_coins_binance_coin_conarguments_april_2022/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 11:30:05
/r/CryptoCurrency/comments/10w63uu/wazirx_calls_binance_allegations_false_and/j7l6af7/

* 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), [Proof of Stake](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_proof-of-stake) * Relevant subreddits: r/Algorand, r/AlgorandOfficial, r/Ethereum, r/Cardano, r/ProofOfStake. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/10w63uu/wazirx_calls_binance_allegations_false_and/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 11:30:05
/r/CryptoCurrency/comments/10w5oo0/cardanos_ethereum_sidechain_is_officially/j7l43a3/

#Ethereum Con-Arguments Below is an argument written by Maleficent_Plankton which won 1st place in the Ethereum Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Ethereum has drastically changed in the past year now that it has rebranded itself as **Consensus/Settlement layer** for other Layer 2 Execution/Rollup networks. It is no longer trying to be a monolithic blockchain by itself. Because of this shift in design, many of its former CONs are no longer major issues. And many of the CONs that still exist often have a beneficial sides. > > I discuss the CONs of Ethereum and their impact on its users here: > > ## CONs > > **Gas Fees** (major): > > The biggest complaint for Ethereum is its network gas fees. Every transaction needs gas to pay for storage and processing power, and gas prices vary based on demand. Gas price is very volatile and often changes 2-5x in magnitude within the same day. ERC20 transfers are used for a large percentage of cryptocurrencies, and it's the reason much of DeFi is extremely expensive. If I wanted to send ERC20 tokens between exchanges, it's often cheaper to trade for XRP, ALGO, or some other microtransaction coin, transfer it using their other coin's native network, and then trade back into the original token. Basically: use a coin on a different network to avoid fees. > > Typical transaction fees for Ethereum were [between $2-10 over the past year](https://etherscan.io/chart/avg-txfee-usd), but they have shot up to $50+ several times in 2021. > > And that's just for basic transactions. Anyone who has tried to use more complex smart contracts like moving MATIC from Polygon mainnet back to ETH L1 mainnet during a time of high gas fees mid-year in 2021 saw $100-$200 gas fees. Transferring ERC-20 tokens (often $20-50) is also more gas expensive because it can't be done through native transfers like on the Cardano network. It's impractical to use swaps like Uniswap for small transactions due to these fees. > > In particular, One/Many-to-many batch transactions are extremely gas-expensive using Ethereum's account-based model compared to Bitcoin's and Cardano's UXTO-based model. [This batch transaction on Ethereum](https://etherscan.io/tx/0x0fe2542079644e107cbf13690eb9c2c65963ccb79089ff96bfaf8dced2331c92) cost over $5000 while [a similar eUXTO transaction on Cardano](https://adapools.org/transactions/e586c6340ee9e60a6c64f447feffe5f89bdabc7741666ecaa681081957938f56) only cost $0.50 in fees. > > On the other hand, these fees provide Ethereum long-term economic sustainability and resilience against DDoS and spam attacks. > > **Competition from other Smart Contract networks** (moderate): > > Ethereum has enjoyed its lead as the smart contract blockchain due to first-mover advantage. But there are now many efficient smart contract competitors like Algorand, Solana, and Cardano. Ethereum is now facing much competition. Who wants to pay $20 gas fees on Ethereum when you can get similar transactions for under $0.01 with Algo and Solana or $0.30 transactions with Cardano? > > Fortunately, the amount of competition is limited because Ethereum is positioning itself as a Settlement layer whereas these other networks are monolithic networks. All monolithic networks will eventually run into scaling issues due to long-term storage and bandwidth limits. It will really depend on how successful Ethereum's Layer 2 rollup solutions will be. > > **Future uncertainty about Layer 2 solutions** (major): > > Ethereum's long-term success is dependent on the success of its Layer 2 solutions. > > These Layer 2 solutions are still extremely early. Even after a year, L2 has a very fragmented adoption. The majority of centralized exchanges currently do not support Layer 2 rollup networks. A few have started to support Polygon, which is more of a Layer 2 side-chain that saves state every 256 blocks than a Layer 2 rollup. Very few CEXs allow for direct fiat on/off-ramping on L2 networks, which puts those networks out of reach of most users. > > Many of these Layer 2 networks (Arbitrum, Optimism, Loopring, ZKSync, etc), are not interoperable with each other. You can store your tokens on any specific L2 network, but they're stuck there. If you want to move your tokens back to Layer 1 or to another L2 network, you have to pay very expensive smart contract gas fees ($50-300). Eventually, there will be bridges between these networks, but we could be years away from widespread adoption. > > Fragmented liquidity is another huge issue. Each of these L2 networks has its own liquidity pool for each token it supports. You can store your token on the the L2 network, but you won't be able to trade or swap much if there are no liquidity pools for that token. Eventually, there will be Dynamic Automated Market Makers (dAMMs) that can share liquidity between networks, but they are complex and introduce their own weaknesses. > > Both Optimistic and ZK Rollups are handled off-chain and require a separate network nodes or smart contracts as infrastructure to validate transactions or generate ZK Proofs. They are very centralized in how they operate, so there's always the risk that their network operators could cheat their customers. By now, the community seems to agree that ZK rollups are the future rollup solution to decentralized L2 networks. There is only 1 notable instance of Plasma (Ethereum to Polygon network conversion), and no one uses it anymore since the Ethereum-Polygon bridge is easier to use. The biggest competitor to ZK rollups are Optimistic rollups, and those take too long to settle back to Layer 1 (1 week) and are still too expensive to use (20-50% of the cost of L1 Ethereum gas fees for transfers). > > **ZK Rollups** require special infrastructure to generate ZK Proofs. These are very computationally-expensive, potentially [thousands of times](https://vitalik.ca/general/2021/01/05/rollup.html) more expensive that just doing the computation directly. To reduce the cost, they are done completely-centralized by specialized servers. Thus the cost of a ZK Rollup is cheap at about [$0.10 to $.30](https://l2fees.info/). But even at $0.10 per transfer and $0.50 per swap, these are still at least 10x more expensive than costs on Algorand and Solana. Users will have to decide whether the extra cost and hassle of using an L2 platform is worth the extra security of settling on the more-decentralized and secure Ethereum L1 network. > > **Ethereum Proof-of-Stake merge is arriving later than competitors** (moderate): > > The ETH PoS Beacon chain has been released, it's a completely separate blockchain from ETH and won't merge with the main blockchain [until later this year](https://decrypt.co/78690/ethereum-2-staking-tops-21-billion-merge-horizon), giving its competitors plenty of time to provide FUD. We still don't know how successful the merge will be. Currently, stakes are locked, preventing investors from selling. We don't know what will happen to the price once staking unlocks. > > **MEV and Dark Forest attacks** (minor): > > [MEV](https://np.reddit.com/r/MPlankton/comments/rs4wp2/the_dark_forest_of_cryptocurrency/) is actually a pretty big issue for networks with high gas arbitrage and mempools like Ethereum, but most casual users will never notice hostile arbitrage. When you broadcast your transaction to the network, there are armies of bots and automated miners that analyze your transaction to see if they can perform arbitrage strategies on your transaction such as front-running, sandwiching, excluding transactions, stealing/replaying transactions, and other pure-profit plays. "Dark Forest" attacks have reveled that bots are constantly monitoring the network, and they can front-run you unless you have your own private army of miners. > > **Final Word** > > Overall, I still think the PROs outweigh the CONs for Ethereum in the long-run due to its first-mover advantage and the long-term sustainability of the Ethereum network. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2luf/top_10_ethereum_conarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10vmhhb/daily_general_discussion_february_7_2023_gmt0/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 11:15:40
/r/CryptoCurrency/comments/10w5oo0/cardanos_ethereum_sidechain_is_officially/j7l42jg/

#Ethereum Pro-Arguments Below is an argument written by Maleficent_Plankton which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > # Background > > Ethereum is a **multi-layer smart contract ecosystem** that is currently migrating from Proof of Work to Proof of Stake: > > * Layer 1 - Consensus/Settlement layer > * Layer 2 - Execution/Rollup layer > > ## PROs > > **First-mover advantage** (major): > > Like Bitcoin, Ethereum enjoys a first-mover advantage. Being around longer than all other smart contract networks gives Ethereum a massive advantage in adoption, which leads to greater decentralization, security, liquidity pools, and app development. Because of the first-mover advantage, Ethereum easily trounces its competitors in security and popularity, and those competitors have little chance of catching up even though their virtual machines are more efficient than EVM. > > **Resilient to spam and Denial-of-Service attacks** (moderate): > > Due to high gas fees on the Ethereum network, it is extremely resistant to DDoS attacks and spam attacks. Ethereum is battle-tested and hasn't sufferred a major DDoS attack since 2016. > > Some of its competitors are still dealing with DDoS attacks. Every time the Solana network goes down from DDoS attacks, which have happened at least 6 times in the past year, there are huge complaints from the crypto community. You need a large amount of memory and bandwidth to keep up with fast networks like Solana. Similarly, Polygon suffered an unintentional DDoS attack from [Sunflower Farmers game](https://www.coindesk.com/tech/2022/01/06/polygon-under-accidental-attack-from-swarm-of-sunflower-farmers/) in Jan 6. For several days, bots ground the network to a halt. > > **Proof of Stake resistant to 51% attacks** (minor): > > * 51% attack (for PoS and PoW) can only revert or censor transactions. [It cannot be used to steal accounts.](https://thedefiant.io/vitalik-eth-cross-chain-bridges-security/). Every transaction has to result in a consistent state. > * With the exception of client bugs that can have unexpected and widespread effects, deterministic PoS networks are very resistant to reorg attacks since they can be immediately detected when a double-spend happens. Bad nodes will be immediately slashed and that double-spend will never go through. > > **Long-term scalability as a settlement layer** (major): > > Ethereum has long-term scalability through Layer 2 rollups. It can offload all its data bloat and computations off-chain. > > Many monolithic blockchains are fine for now, but they eventually all suffer from massive data bloat on their blockchains unless they also offload to Layer 2 solutions. When this happens, they will be playing catch-up with Ethereum. > > **Economic sustainability** (major): > > * Ethereum PoS is one of the ONLY networks that's expected to be deflationary due to its extremely-high fees. Ethereum PoW's amount of inflation is [now offset 35%](https://watchtheburn.com/) in Jun 2022 by the amount burned per transaction from EIP-1559. After the merge, the issuance is expected to drop 80%, making Ethereum PoS the first popular blockchain that will have **supply deflation** and become a positive-sum investment. > * In contrast, many other blockchains have enjoyed lower transaction fees by subsidizing network costs through charging investors with inflation. > * **Polygon PoS** distributes $400M in inflationary rewards annually but only collects $18M in fees. > * **Solana** collects only $40M in fees but gives away 100x that much ($4B) in rewards [[Source](https://polynya.medium.com/why-rollups-data-shards-are-the-only-sustainable-solution-for-high-scalability-c9aabd6fbb48)]. > * **Cardano** rewards stakers from a diminishing rewards pool that is on schedule to drop 90% in 5 years. > * **Bitcoin** pays miners with block subsidies (set to diminish by 99% in 30 years) that are 50-100x bigger than its transaction fees. When their subsidies disappear, unless they have major governance changes, these networks are either going to see much higher fees, or their security is going to decrease drastically. > * **Avalanche** has 10% inflation, and the [burn rate](https://burnedavax.com/) is 100x smaller than the issuance rate. > * **Algorand** pays from a staking reward pool [that disappears in 2030](https://algorand.foundation/governance/algo-dynamics). Its low transaction fees don't cover the cost of paying for validators and relay nodes. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/tuwvz5/top_coins_ethereum_proarguments_april_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 11:15:31
/r/CryptoCurrency/comments/10w5oo0/cardanos_ethereum_sidechain_is_officially/j7l41sd/

* Relevant Cointest topics: [Cardano](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_cardano), [Algorand](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_algorand), [Solana](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_solana), [Polkadot](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_polkadot), [Cosmos](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_cosmos), [Proof of Stake](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_proof-of-stake). * Official and related subreddits: r/Ethereum, r/EthTrader, r/EthStaker, r/Cardano, r/Algorand, r/Solana, r/CosmosNetwork, r/Polkadot, r/Tezos. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/10w5oo0/cardanos_ethereum_sidechain_is_officially/j7l4045/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 11:15:23
/r/CryptoCurrency/comments/10w5oo0/cardanos_ethereum_sidechain_is_officially/j7l41re/

Ethereum {{pros}} & {{cons}} and related info are in the collapsed comments below. Pros and cons will change for every new post. Submit a pro/con argument in the [Cointest](https://www.reddit.com/r/CointestOfficial/wiki/cointest_policy) and potentially win [Moons](https://coinmarketcap.com/currencies/moon/). Moon prizes by award for the Top Coins category are: **1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 1000.** --- To submit an ETH pro-argument, [click here](https://old.reddit.com/r/CointestOfficial/comments/tuwvz5/top_coins_ethereum_proarguments_april_2022/). | To submit an ETH con-argument, [click here](https://old.reddit.com/r/CointestOfficial/comments/tuww2u/top_coins_ethereum_conarguments_april_2022/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 11:15:22
/r/CryptoCurrency/comments/10w5oo0/cardanos_ethereum_sidechain_is_officially/j7l41pm/

#Cardano Con-Arguments Below is an argument written by cryotosensei which won 2nd place in the Cardano Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > > > 1. Cardano suffers from a poor image, in that people regard it as slow. It now comprises smart contract capabilities - but not before the several Hard Fork Combinator (HFC) events took place. Just this week, it was announced that the Vasil hard fork that was expected to be rolled out in June has been postponed to the last week of July 2022. While it’s commendable that the developers wish to ensure full synchronisation across the entire Cardano ecosystem, Cardano is no ETH after all. So, most investors who are used to the speed and nimbleness of other blockchains are hardly likely to stay around and wait for ADA to realise its potential. > 2. Cardano is built for DApps, but its decentralised apps ecosystem can hardly be considered to be thriving. DefiLlama reports that there are only 11 DeFi protocols running on the ADA network with a combined total volume locked of approximately $103.68 million (https://defillama.com/chain/Cardano?currency=USD) > 3. Another factor that hampers Cardano’s development is that developers need to learn Haskell before they can program smart contracts on Cardano. Should they wish to create DApps, they will need to build up on their knowledge of Haskell and learn to code in Plutus. These programming languages are considered to be more advanced than Plython and Solidity, so it is harder for Cardano developer teams to find tech personnel with the relevant experience and expertise. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/tuwvvo/top_coins_cardano_conarguments_april_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Cardano_(blockchain_platform\)) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10vmhhb/daily_general_discussion_february_7_2023_gmt0/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 11:15:22
/r/CryptoCurrency/comments/10w5oo0/cardanos_ethereum_sidechain_is_officially/j7l40xl/

#Cardano Pro-Arguments Below is an argument written by cryotosensei which won 2nd place in the Cardano Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > > 1. A self-sufficient blockchain, Cardano provides in-chain support for NFTs and decentralised token exchanges through Pavia and SundaeSwap respectively. SundaeSwap also offers an automated liquidity provision protocol. Another exciting project is Liqwid Finance, which makes available decentralized lending and borrowing money markets on the Cardano blockchain. > 2. Cardano is making its impact felt in several African countries. For instance, Cardano plans to overhaul Ethiopia's educational system by employing digital signatures and keeping educational records of five million of its citizens entirely on its blockchain so that job applicants can send a single link to their prospective employers. This will hence ensure authenticity as their credentials cannot be falsified on the blockchain. > 3. Besides allowing people to manage their identities. Cardano aims to have its smart contracts play a vital role in automating compliance procedures and tightening regulation processes in the developing world. > 4. Cardano sees widespread adoption as its 24-hours transaction volume surpassed even that of Ethereum at one point in January 2022. What’s more, it was able to do so with wallet-friendly fees of US 38 cents per transaction then. > 5. Developers are currently hard (no pun intended) at work on Vasil, a hard fork that is expected to upgrade the Cardano network and improve its scaling capabilities. It is scheduled for a late June release on the testnet. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/tuwvst/top_coins_cardano_proarguments_april_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Cardano_(blockchain_platform\)) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 11:15:13
/r/CryptoCurrency/comments/10w5oo0/cardanos_ethereum_sidechain_is_officially/j7l406f/

Cardano {{pros}} & {{cons}} and related info are in the collapsed comments below. Pros and cons will change for every new post. Submit a pro/con argument in the [Cointest](https://www.reddit.com/r/CointestOfficial/wiki/cointest_policy) and potentially win [Moons](https://coinmarketcap.com/currencies/moon/). Moon prizes by award for the Top Coins category are: **1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 1000.** --- To submit an ADA pro-argument, [click here](https://old.reddit.com/r/CointestOfficial/comments/tuwvst/top_coins_cardano_proarguments_april_2022/). | To submit an ADA con-argument, [click here](https://old.reddit.com/r/CointestOfficial/comments/tuwvvo/top_coins_cardano_conarguments_april_2022/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 11:15:05
/r/CryptoCurrency/comments/10w5oo0/cardanos_ethereum_sidechain_is_officially/j7l407e/

* Relevant Cointest topics: [Ethereum](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_ethereum), [Cosmos](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_cosmos), [Algorand](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_algorand), [Polkadot](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_polkadot), [Proof of Stake](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_proof-of-stake) * Official and related subreddits: r/Cardano, r/Ethereum, r/CosmosNetwork, r/Polkadot, r/Algorand. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/10w5oo0/cardanos_ethereum_sidechain_is_officially/j7l4045/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 11:15:05
/r/CryptoCurrency/comments/10w5oo0/cardanos_ethereum_sidechain_is_officially/j7l4045/

Pro & con info are in the collapsed comments below for the following topics: {{top_level_links}}

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 11:15:04
/r/CryptoCurrency/comments/10w4tlm/ethereum_liquid_staking_trend_continues_to_swell/j7kzlab/

#Proof-of-Stake Con-Arguments Below is an argument written by Shippior which won 2nd place in the Proof-of-Stake Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Expanding upon my [previous entry](https://www.reddit.com/r/CryptoCurrency/comments/og0n0a/comment/hab39f3/?utm_source=share&utm_medium=web2x&context=3) about the ways to maliciously make use of the dPoS mechanics there have lately been several examples in which these mechanics have actually led to an undesirable outcome. > > The first example of this is the Juno network. The Juno community proposed a [governance proposal](https://www.mintscan.io/juno/proposals/16) to claw back the airdropped funds of a whale that had "gamed" the airdrop as it was called. More backstory is available in this [Twitter thread](https://twitter.com/TheJunonaut/status/1501957393977995267). The proposal was open for 5 days and the first movers were actually voting in favor of this proposal. Then the whale started to use its fund to try to swing the vote, offering to send a small amount of Juno to people in the community for interacting with the wale in the hopes of gaining their trust enough for them to vote "No" for the proposal to try and swing the vote. In the end the result was "Yes" but it was nowhere near the clear majority that was present in the first few days. > > The second example of this was the [Cosmos proposal #69] (https://www.mintscan.io/cosmos/proposals/69). Altough this proposal was very controversial to begin with and had only a small chance of passing their was an obvious attempt at buying votes. [Jae Kwon] (https://twitter.com/jaekwon) one of the original developers of Cosmos that has since left the chain has said that those who vote "No" or " No with veto" will receive a larger part of the airdrop of his new chain [Gnoland](https://twitter.com/jaekwon/status/1527696562305961984). This has almost certainly swayed people to vote "No" and thereby influenced the voting. > > These two examples show that even with fully available information people will take short term gain over long term gain and thereby can by manipulated to vote against their own interests by entities that want to abuse the system. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/t5mn11/general_concepts_proof_of_stake_conarguments/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Proof_of_Stake) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10vmhhb/daily_general_discussion_february_7_2023_gmt0/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 10:45:40
/r/CryptoCurrency/comments/10w4tlm/ethereum_liquid_staking_trend_continues_to_swell/j7kzkiu/

#Proof-of-Stake Pro-Arguments Below is an argument written by FrogsDoBeCool which won 2nd place in the Proof-of-Stake Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > disclaimer: I thought we removed reusing arguments but maybe we readded them, I keep seeing information that we can reuse them, if we can't, that's fine, we should just update the wiki and rules and stuff. > > ​ > > also I still have no idea how to copy the format down when I copy and paste old posts, I've tried a lot and none of it works > > ​ > > [https://www.reddit.com/r/CryptoCurrency/comments/og0nj3/comment/h6imkxe/?utm\_source=share&utm\_medium=web2x&context=3](https://www.reddit.com/r/CryptoCurrency/comments/og0nj3/comment/h6imkxe/?utm_source=share&utm_medium=web2x&context=3) ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/t5mn0d/general_concepts_proof_of_stake_proarguments/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Proof_of_Stake) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 10:45:32
/r/CryptoCurrency/comments/10w4tlm/ethereum_liquid_staking_trend_continues_to_swell/j7kzjq0/

#Ethereum Con-Arguments Below is an argument written by Maleficent_Plankton which won 1st place in the Ethereum Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Ethereum has drastically changed in the past year now that it has rebranded itself as **Consensus/Settlement layer** for other Layer 2 Execution/Rollup networks. It is no longer trying to be a monolithic blockchain by itself. Because of this shift in design, many of its former CONs are no longer major issues. And many of the CONs that still exist often have a beneficial sides. > > I discuss the CONs of Ethereum and their impact on its users here: > > ## CONs > > **Gas Fees** (major): > > The biggest complaint for Ethereum is its network gas fees. Every transaction needs gas to pay for storage and processing power, and gas prices vary based on demand. Gas price is very volatile and often changes 2-5x in magnitude within the same day. ERC20 transfers are used for a large percentage of cryptocurrencies, and it's the reason much of DeFi is extremely expensive. If I wanted to send ERC20 tokens between exchanges, it's often cheaper to trade for XRP, ALGO, or some other microtransaction coin, transfer it using their other coin's native network, and then trade back into the original token. Basically: use a coin on a different network to avoid fees. > > Typical transaction fees for Ethereum were [between $2-10 over the past year](https://etherscan.io/chart/avg-txfee-usd), but they have shot up to $50+ several times in 2021. > > And that's just for basic transactions. Anyone who has tried to use more complex smart contracts like moving MATIC from Polygon mainnet back to ETH L1 mainnet during a time of high gas fees mid-year in 2021 saw $100-$200 gas fees. Transferring ERC-20 tokens (often $20-50) is also more gas expensive because it can't be done through native transfers like on the Cardano network. It's impractical to use swaps like Uniswap for small transactions due to these fees. > > In particular, One/Many-to-many batch transactions are extremely gas-expensive using Ethereum's account-based model compared to Bitcoin's and Cardano's UXTO-based model. [This batch transaction on Ethereum](https://etherscan.io/tx/0x0fe2542079644e107cbf13690eb9c2c65963ccb79089ff96bfaf8dced2331c92) cost over $5000 while [a similar eUXTO transaction on Cardano](https://adapools.org/transactions/e586c6340ee9e60a6c64f447feffe5f89bdabc7741666ecaa681081957938f56) only cost $0.50 in fees. > > On the other hand, these fees provide Ethereum long-term economic sustainability and resilience against DDoS and spam attacks. > > **Competition from other Smart Contract networks** (moderate): > > Ethereum has enjoyed its lead as the smart contract blockchain due to first-mover advantage. But there are now many efficient smart contract competitors like Algorand, Solana, and Cardano. Ethereum is now facing much competition. Who wants to pay $20 gas fees on Ethereum when you can get similar transactions for under $0.01 with Algo and Solana or $0.30 transactions with Cardano? > > Fortunately, the amount of competition is limited because Ethereum is positioning itself as a Settlement layer whereas these other networks are monolithic networks. All monolithic networks will eventually run into scaling issues due to long-term storage and bandwidth limits. It will really depend on how successful Ethereum's Layer 2 rollup solutions will be. > > **Future uncertainty about Layer 2 solutions** (major): > > Ethereum's long-term success is dependent on the success of its Layer 2 solutions. > > These Layer 2 solutions are still extremely early. Even after a year, L2 has a very fragmented adoption. The majority of centralized exchanges currently do not support Layer 2 rollup networks. A few have started to support Polygon, which is more of a Layer 2 side-chain that saves state every 256 blocks than a Layer 2 rollup. Very few CEXs allow for direct fiat on/off-ramping on L2 networks, which puts those networks out of reach of most users. > > Many of these Layer 2 networks (Arbitrum, Optimism, Loopring, ZKSync, etc), are not interoperable with each other. You can store your tokens on any specific L2 network, but they're stuck there. If you want to move your tokens back to Layer 1 or to another L2 network, you have to pay very expensive smart contract gas fees ($50-300). Eventually, there will be bridges between these networks, but we could be years away from widespread adoption. > > Fragmented liquidity is another huge issue. Each of these L2 networks has its own liquidity pool for each token it supports. You can store your token on the the L2 network, but you won't be able to trade or swap much if there are no liquidity pools for that token. Eventually, there will be Dynamic Automated Market Makers (dAMMs) that can share liquidity between networks, but they are complex and introduce their own weaknesses. > > Both Optimistic and ZK Rollups are handled off-chain and require a separate network nodes or smart contracts as infrastructure to validate transactions or generate ZK Proofs. They are very centralized in how they operate, so there's always the risk that their network operators could cheat their customers. By now, the community seems to agree that ZK rollups are the future rollup solution to decentralized L2 networks. There is only 1 notable instance of Plasma (Ethereum to Polygon network conversion), and no one uses it anymore since the Ethereum-Polygon bridge is easier to use. The biggest competitor to ZK rollups are Optimistic rollups, and those take too long to settle back to Layer 1 (1 week) and are still too expensive to use (20-50% of the cost of L1 Ethereum gas fees for transfers). > > **ZK Rollups** require special infrastructure to generate ZK Proofs. These are very computationally-expensive, potentially [thousands of times](https://vitalik.ca/general/2021/01/05/rollup.html) more expensive that just doing the computation directly. To reduce the cost, they are done completely-centralized by specialized servers. Thus the cost of a ZK Rollup is cheap at about [$0.10 to $.30](https://l2fees.info/). But even at $0.10 per transfer and $0.50 per swap, these are still at least 10x more expensive than costs on Algorand and Solana. Users will have to decide whether the extra cost and hassle of using an L2 platform is worth the extra security of settling on the more-decentralized and secure Ethereum L1 network. > > **Ethereum Proof-of-Stake merge is arriving later than competitors** (moderate): > > The ETH PoS Beacon chain has been released, it's a completely separate blockchain from ETH and won't merge with the main blockchain [until later this year](https://decrypt.co/78690/ethereum-2-staking-tops-21-billion-merge-horizon), giving its competitors plenty of time to provide FUD. We still don't know how successful the merge will be. Currently, stakes are locked, preventing investors from selling. We don't know what will happen to the price once staking unlocks. > > **MEV and Dark Forest attacks** (minor): > > [MEV](https://np.reddit.com/r/MPlankton/comments/rs4wp2/the_dark_forest_of_cryptocurrency/) is actually a pretty big issue for networks with high gas arbitrage and mempools like Ethereum, but most casual users will never notice hostile arbitrage. When you broadcast your transaction to the network, there are armies of bots and automated miners that analyze your transaction to see if they can perform arbitrage strategies on your transaction such as front-running, sandwiching, excluding transactions, stealing/replaying transactions, and other pure-profit plays. "Dark Forest" attacks have reveled that bots are constantly monitoring the network, and they can front-run you unless you have your own private army of miners. > > **Final Word** > > Overall, I still think the PROs outweigh the CONs for Ethereum in the long-run due to its first-mover advantage and the long-term sustainability of the Ethereum network. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2luf/top_10_ethereum_conarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10vmhhb/daily_general_discussion_february_7_2023_gmt0/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 10:45:23
/r/CryptoCurrency/comments/10w4tlm/ethereum_liquid_staking_trend_continues_to_swell/j7kzjs8/

* Relevant Cointest topics: [Proof of Stake](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_proof-of-stake), [Cardano](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_cardano), [Ethereum](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_ethereum). * Relevant subreddits: r/Bitcoin, r/EthStaker, r/Cardano, r/ProofOfStake. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/10w4tlm/ethereum_liquid_staking_trend_continues_to_swell/j7kzi38/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 10:45:23
/r/CryptoCurrency/comments/10w4tlm/ethereum_liquid_staking_trend_continues_to_swell/j7kzjre/

Proof-of-Stake [pros](/r/CryptoCurrency/comments/10w4tlm/ethereum_liquid_staking_trend_continues_to_swell/j7kzkiu/) & [cons](/r/CryptoCurrency/comments/10w4tlm/ethereum_liquid_staking_trend_continues_to_swell/j7kzlab/) and related info are in the collapsed comments below. Pros and cons will change for every new post.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 10:45:23
/r/CryptoCurrency/comments/10w4tlm/ethereum_liquid_staking_trend_continues_to_swell/j7kziyi/

#Ethereum Pro-Arguments Below is an argument written by Maleficent_Plankton which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > # Background > > Ethereum is a **multi-layer smart contract ecosystem** that is currently migrating from Proof of Work to Proof of Stake: > > * Layer 1 - Consensus/Settlement layer > * Layer 2 - Execution/Rollup layer > > ## PROs > > **First-mover advantage** (major): > > Like Bitcoin, Ethereum enjoys a first-mover advantage. Being around longer than all other smart contract networks gives Ethereum a massive advantage in adoption, which leads to greater decentralization, security, liquidity pools, and app development. Because of the first-mover advantage, Ethereum easily trounces its competitors in security and popularity, and those competitors have little chance of catching up even though their virtual machines are more efficient than EVM. > > **Resilient to spam and Denial-of-Service attacks** (moderate): > > Due to high gas fees on the Ethereum network, it is extremely resistant to DDoS attacks and spam attacks. Ethereum is battle-tested and hasn't sufferred a major DDoS attack since 2016. > > Some of its competitors are still dealing with DDoS attacks. Every time the Solana network goes down from DDoS attacks, which have happened at least 6 times in the past year, there are huge complaints from the crypto community. You need a large amount of memory and bandwidth to keep up with fast networks like Solana. Similarly, Polygon suffered an unintentional DDoS attack from [Sunflower Farmers game](https://www.coindesk.com/tech/2022/01/06/polygon-under-accidental-attack-from-swarm-of-sunflower-farmers/) in Jan 6. For several days, bots ground the network to a halt. > > **Proof of Stake resistant to 51% attacks** (minor): > > * 51% attack (for PoS and PoW) can only revert or censor transactions. [It cannot be used to steal accounts.](https://thedefiant.io/vitalik-eth-cross-chain-bridges-security/). Every transaction has to result in a consistent state. > * With the exception of client bugs that can have unexpected and widespread effects, deterministic PoS networks are very resistant to reorg attacks since they can be immediately detected when a double-spend happens. Bad nodes will be immediately slashed and that double-spend will never go through. > > **Long-term scalability as a settlement layer** (major): > > Ethereum has long-term scalability through Layer 2 rollups. It can offload all its data bloat and computations off-chain. > > Many monolithic blockchains are fine for now, but they eventually all suffer from massive data bloat on their blockchains unless they also offload to Layer 2 solutions. When this happens, they will be playing catch-up with Ethereum. > > **Economic sustainability** (major): > > * Ethereum PoS is one of the ONLY networks that's expected to be deflationary due to its extremely-high fees. Ethereum PoW's amount of inflation is [now offset 35%](https://watchtheburn.com/) in Jun 2022 by the amount burned per transaction from EIP-1559. After the merge, the issuance is expected to drop 80%, making Ethereum PoS the first popular blockchain that will have **supply deflation** and become a positive-sum investment. > * In contrast, many other blockchains have enjoyed lower transaction fees by subsidizing network costs through charging investors with inflation. > * **Polygon PoS** distributes $400M in inflationary rewards annually but only collects $18M in fees. > * **Solana** collects only $40M in fees but gives away 100x that much ($4B) in rewards [[Source](https://polynya.medium.com/why-rollups-data-shards-are-the-only-sustainable-solution-for-high-scalability-c9aabd6fbb48)]. > * **Cardano** rewards stakers from a diminishing rewards pool that is on schedule to drop 90% in 5 years. > * **Bitcoin** pays miners with block subsidies (set to diminish by 99% in 30 years) that are 50-100x bigger than its transaction fees. When their subsidies disappear, unless they have major governance changes, these networks are either going to see much higher fees, or their security is going to decrease drastically. > * **Avalanche** has 10% inflation, and the [burn rate](https://burnedavax.com/) is 100x smaller than the issuance rate. > * **Algorand** pays from a staking reward pool [that disappears in 2030](https://algorand.foundation/governance/algo-dynamics). Its low transaction fees don't cover the cost of paying for validators and relay nodes. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/tuwvz5/top_coins_ethereum_proarguments_april_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 10:45:14
/r/CryptoCurrency/comments/10w4tlm/ethereum_liquid_staking_trend_continues_to_swell/j7kzi6n/

* Relevant Cointest topics: [Cardano](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_cardano), [Algorand](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_algorand), [Solana](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_solana), [Polkadot](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_polkadot), [Cosmos](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_cosmos), [Proof of Stake](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_proof-of-stake). * Official and related subreddits: r/Ethereum, r/EthTrader, r/EthStaker, r/Cardano, r/Algorand, r/Solana, r/CosmosNetwork, r/Polkadot, r/Tezos. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/10w4tlm/ethereum_liquid_staking_trend_continues_to_swell/j7kzi38/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 10:45:06
/r/CryptoCurrency/comments/10w4tlm/ethereum_liquid_staking_trend_continues_to_swell/j7kzi5q/

Ethereum {{pros}} & {{cons}} and related info are in the collapsed comments below. Pros and cons will change for every new post. Submit a pro/con argument in the [Cointest](https://www.reddit.com/r/CointestOfficial/wiki/cointest_policy) and potentially win [Moons](https://coinmarketcap.com/currencies/moon/). Moon prizes by award for the Top Coins category are: **1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 1000.** --- To submit an ETH pro-argument, [click here](https://old.reddit.com/r/CointestOfficial/comments/tuwvz5/top_coins_ethereum_proarguments_april_2022/). | To submit an ETH con-argument, [click here](https://old.reddit.com/r/CointestOfficial/comments/tuww2u/top_coins_ethereum_conarguments_april_2022/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 10:45:05
/r/CryptoCurrency/comments/10w4tlm/ethereum_liquid_staking_trend_continues_to_swell/j7kzi38/

Pro & con info are in the collapsed comments below for the following topics: {{top_level_links}}

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 10:45:04
/r/CryptoCurrency/comments/10w4bc7/wazirx_calls_binance_allegations_false_and/j7kxngj/

#Binance Coin Con-Arguments Below is an argument written by Tritador which won 3rd place in the Binance Coin Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > If I were a big cryptocurrency company that wanted to make money off of cryptocurrency inventors, the first thing I would do is create my own crypto. Then, I would give investors all kinds of incentives to accumulate and use it. Then, I would use the money they paid me to buy myself lots and lots of real crypto. > > Enter Binance and its beloved Binance Coin (BNB). > > Somewhere along the line, the world forgot that the coolest aspect of cryptocurrency is that the currency is decentralized. Not just digital, but actually decentralized. If all the crypto-universe cared about was digital money, we have that already. We swipe plastic cards to buy things, and signals get sent on the internet to move electrons around between bank computers. > > A centralized coin created and maintained by a cryptocurrency exchange is hardly any different than any other company letting you buy, use and trade digital points, be it Reddit, Roblox, or even your latest Amazon gift card you deposited in your Amazon account. > > BNB is a travesty simply due to what it is. Any utility or value the coin has stems entirely from the uses Binance creates for it, which means the value of the coin can easily be driven by factors other than actual investor interest and prices in order books. > > Instead of buying intermediate "crypto" created by an exchange, why not use that exchange to buy real crypto? ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2lzs/top_10_binance_coin_conarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin=) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10vmhhb/daily_general_discussion_february_7_2023_gmt0/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 10:32:25
/r/CryptoCurrency/comments/10w4bc7/wazirx_calls_binance_allegations_false_and/j7kxmoo/

#Binance Coin Pro-Arguments Below is an argument written by SoonMoonn which won 3rd place in the Binance Coin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > (Using my Arguments from the previous round) > > **BNB (Binance Coin)** > > BNB also known as Binance Coin, is a crypto that powers the Binance Chain. Similar to ETH for the Ethereum Chain. It is currently ranked 3rd by market cap. > > Pros- > > **Binance** > > Binance is the largest cryptocurrency exchange by a far mile. According to coinmarketcap.com (as of 28/12/2021) Binance has 5x more volume than Coinbase (2nd on the list). > > The success of BNB is relative to the success of Binance as shown by BNB being the largest crypto apart from BTC and ETH. Just like how Binance is the biggest crypto exchange. > > **Benefits of BNB to Binance Users** > > • ⁠Discount on Trading fees > > • ⁠Turn dust (small amounts of crypto) to BNB > > • ⁠Buy Gift cards on Binance > > **Binance Smart Chain** > > Binance Smart chain is one of the largest crypto chains. > > It has low fees compared to its competitor Ethereum. Which is why a lot of people prefer to use the chain. > > BNB is needed for gas fees. > > Binance Smart Chain is also home to many memecoins / new coins. > > You can buy pegged Bitcoin / Ethereum on BSC and can hodl / exchange it without wasting money on gas fees. > > **Conclusion: BNB has proved itself of being a worthy crypto, being in the top 5 for most of this year. It’s backed by the biggest crypto exchange and provides many use-cases to it’s users.** > > **BNB is also needed for Binance Smart Chain, many users prefer that due to the low gas fees and variety of options.** ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2lxc/top_10_binance_coin_proarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin=) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 10:32:16
/r/CryptoCurrency/comments/10w4bc7/wazirx_calls_binance_allegations_false_and/j7kxm01/

* 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), [Proof of Stake](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_proof-of-stake) * Relevant subreddits: r/Algorand, r/AlgorandOfficial, r/Ethereum, r/Cardano, r/ProofOfStake. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/10w4bc7/wazirx_calls_binance_allegations_false_and/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 10:32:08
/r/CryptoCurrency/comments/10w4bc7/wazirx_calls_binance_allegations_false_and/j7kxlz6/

Binance Coin [pros](/r/CryptoCurrency/comments/10w4bc7/wazirx_calls_binance_allegations_false_and/j7kxmoo/) & [cons](/r/CryptoCurrency/comments/10w4bc7/wazirx_calls_binance_allegations_false_and/j7kxngj/) and related info are in the collapsed comments below. Pros and cons will change for every new post. Submit a pro/con argument in the [Cointest](https://www.reddit.com/r/CointestOfficial/wiki/cointest_policy) and potentially win [Moons](https://coinmarketcap.com/currencies/moon/). Moon prizes by award for the Top Coins category are: **1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 1000.** --- To submit a Binance Coin pro-argument, [click here](https://old.reddit.com/r/CointestOfficial/comments/tuwtz9/top_coins_binance_coin_proarguments_april_2022/). | To submit a Binance Coin con-argument, [click here](https://old.reddit.com/r/CointestOfficial/comments/tuwu8i/top_coins_binance_coin_conarguments_april_2022/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 10:32:07
/r/CryptoCurrency/comments/10w4gc2/as_a_newbie_this_is_your_comprehensive_guide_to/j7kxlvy/

#Bitcoin Con-Arguments Below is an argument written by Nostalg33k which won 2nd place in the Bitcoin Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > # Bitcoin: A nice idea with the worst implementation possible. > > Having a worldwide permission-less system of financial settlement may seem like a good idea at first glance. "Let's bank the unbanked" and other nice sentences skewed crypto enthusiasts towards Bitcoin but in the end, Bitcoin is already failing and should nothing be done to change some of its internal and external factors, Bitcoin's outlook could change from positive to very negative. Here is my perspective on the future of Bitcoin. > > # Early investors makes the profit > > A permission-less payment system to escape the greediness of the banks... only to be left in the hands of speculators. Right now, Bitcoin is an investment more than a payment system. After all, if you were paid in Bitcoin in 2021, you could have lost more than 2/3 of the value you transferred to your client. > > This is why Bitcoin is problematic as a Permission-less settlement system: You always need to go back to banks and to fiat because fiat is more stable than Bitcoin. > > This situation leads to early investors getting profits and people using Bitcoin as supposed (A payment system) are left licking their wounds. > > # The price of permission less. > > An ethical question arise when discussing a permission less settlement system. Should we have one ? From terrorism to rogue states, our world is still very unstable. Bitcoin is only creating more instability. Allowing countries such as Iran to escape US led sanctions. After all Bitcoin first use case was to fuel the financial ecosystem of a dark web drug market. > > ​ > > # No framework for adoption > > In a lot of countries, being paid in Bitcoin is problematic. From different taxation rules for revenue in Bitcoin to straight up considering all Crypto holdings to be speculative and considering they should be under a flat tax of 30%. This lack of framework may have been a reason for Bitcoin rising to this point but it is now slowing development. > > ​ > > # Conclusion: Bitcoin is both a threat to global stability and under threat because of the lack of oversight. > > Having a permission less settlement system seems like a good thing... between reasonable financial actors. Right now this anarco libertariano capitalist idea may have already gone too far. Allowing cartels and other criminals to be funded through Bitcoin is a bad idea. People using Bitcoin in Venezuela could be seen as a good thing BUT the theory is supposed to be that financial suffering leads to revolution. > > More over the lack of comprehensive rules worldwide when looking at Cryptocurrencies is now slowing adoption. Adoption which could lead to a congested network. > > In the end we may simply be looking at Bitcoin failing its first mission. Becoming slowly a reserve fund for traditional banking and countries instead of offering an alternative to traditional banking. > > This failure shows that Bitcoin has not resolved the problems it set out to resolve and that the experiment should be seen as a failure for everyone except those of us treating Crypto as an investment. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpuiar/top_coins_bitcoin_conarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10vmhhb/daily_general_discussion_february_7_2023_gmt0/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 10:32:06
/r/CryptoCurrency/comments/10w4gc2/as_a_newbie_this_is_your_comprehensive_guide_to/j7kxl3n/

#Bitcoin Pro-Arguments Below is an argument written by Maleficent_Plankton which won 2nd place in the Bitcoin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > ##**Main PROs** > > Bitcoin is currently the most popular cryptocurrency and marketcap leader. Among all the cryptocurrencies, it's the one your grandma would most likely have heard of. This is mainly due to its first-mover advantage coupled with the network effect. And since cryptocurrency value is largely based on a Keynesian Beauty Contest, it's likely to remain the most popular for years to come. > > **First-Mover Advantage**: This gave Bitcoin a huge head start over its competitors despite that it's technologically behind. If Bitcoin, Bitcoin Cash, and Litecoin were all released simultaneously, Bitcoin would lose to its competitors because its competitors have much more efficient designs with higher throughput. There are many newer networks that have 10-100x Bitcoin's throughput and have 100x cheaper fees. But the reality is that Bitcoin's first-mover advantage gave it such a huge head start that the others can't catch up. > > **The Network Effect**: This means that people will flock to whichever product has the largest user base. Whenever people first invest in cryptocurrency, they notice Bitcoin first because it's the largest and most popular. For half a decade, its name was almost synonymous with cryptocurrency. The network effect creates a positive feedback loop and makes Bitcoin's lead grow even more. Its block subsidy is also the highest, which attracts miners, thus increasing its security. > > **Anti-censorship**: Bitcoin provides partial financial 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. For example, many Russians, Iranian, and North Koreans are getting around sanctions by using Bitcoin and mixers. Legal sex workers and marijuana industries are sometimes blocked from using traditional financial services due to social stigma. Bitcoin provides those workers a way to transfer funds that censorship. > > **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. > > **Cannot be counterfeited**: Cash can be counterfeited, but you can't fake transactions or UTXOs. > > **Considered a commodity**: Bitcoin is the only cryptocurrency that both the SEC and CFTC have openly stated is likely a commodity, so it has a low chance of being subjected to future securities regulations. > > ##**The Bitcoin Narratives and the Knowledge Gap** > > There are so many Bitcoin Maxis who will ignore logic and keep spreading Pro-Bitcoin Narratives of questionable 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. Those who aren't technical will believe them without digging deeper. (Sadly, I may have spread a couple of these myself not that long ago.) Thus, Bitcoin tends to cult-ivate a community of block-headed maximalists who are willing to shill and meme Bitcoin all day long. > > **Here's a list of popular but questionable Bitcoin Narratives.** Regardless of whether these are accurate, they will keep spreading and contributing to Bitcoin's popularity and network effect. > > * **Maximum Supply cap guarantees scarcity and that price will keep increasing**: Bitcoin has a supply cap of 2.1 Million Bitcoins, so it's deflationary and will keep going up in price. > * **Reality**: Bitcoin is actually inflationary, albeit disinflationary, until 2140. Scarcity is questionable because it can always fork, and there are competing blockchains. There is no guarantee that price will keep going up. The maximum supply cap is also a double-edged sword since mining rewards aren't guaranteed, and Bitcoin's security will likely decline greatly decades from now. > * **Bitcoin is an Inflation Hedge** > * **Reality**: When inflation rose in 2022, Bitcoin plunged in price, proving that it's not a good inflation hedge. Instead, it tends to go up and down with the stock market, but with higher volatility. > * **Bitcoin is a great Store of Value (i.e. Digital gold)** > * **Reality**: Bitcoin's price is too volatile to make it a good Store of Value. > * **All altcoins are shitcoins**: Altcoins will never beat Bitcoin and always fail. Bitcoin has survived multiple hard forks, bug fixes, country-wide bans, and 80-90% value crashes ... unlike most altcoins. > * **Reality**: Altcoins fall harder during bear markets, but they also rise more during bull markets. The better ones also have better protocol designs than Bitcoin. Eventually, one of them could even dethrone Bitcoin. > * **UTXO batch transactions**: Bitcoin can natively batch UTXO transactions to increase to effective throughput beyond TPS. > * **Reality**: While it's true that batch transactions increase effective transfers, they only do so by a maximum of 70%, increasing effective throughput from 3 transfers/s to 5 transfers/s. There is a 40% savings in storage space, and 75% savings in fees [[Source](https://blog.coinbase.com/reflections-on-bitcoin-transaction-batching-b13dad12a12)]. Also note that account-based smart contracts can save similar amounts of storage and fees, so this isn't unique to Bitcoin. > * **The Lightning Network can scale Bitcoin to the global population**: The Lightning Network can greatly scale Bitcoin and enable fast peer-to-peer transactions. > * **But**: It can't scale well past 1% of the global population since users are expected to open and close channel regularly. And if 10% of the global population uses the Lightning Network, they can only open and close channels once every 8 years on average due to congestion on Layer 1. The only way to get around this is if everyone only interacts on centralized exchanges without touching the network itself. > * **Decentralization**: Bitcoin is the most decentralized cryptocurrency because it has the highest Nakamoto Coefficient when measured by individual miners. > * **Reality**: The top 3 mining pools own 60% of the network hash rate, and the true coefficient is just 3. > * **Fair launch**: Bitcoin had a fair launch. First the first couple of years, anyone had to work for their Bitcoins. There was no ICO. > * **But**: There were only ~100 miners the first several years, and that they mined out the vast majority of all Bitcoins and got a huge advantage over everyone else. > > If these are flawed arguments, why am I even listing them as Pros? **To show that even if these narratives are questionable, there are so many of them, and they will keep spreading.** For each person who realizes their flaws, two more newbies who don't bother with research will gobble them up. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpui9i/top_coins_bitcoin_proarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 10:31:58
/r/CryptoCurrency/comments/10w4gc2/as_a_newbie_this_is_your_comprehensive_guide_to/j7kxkdq/

* Relevant Cointest topics: [Bitcoin Cash](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_bitcoin_cash), [Litecoin](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_litecoin), [Lightning Network](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_lightning_network), [Proof of Work](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_proof-of-work) * Official and related subreddits: r/Bitcoin, r/BitcoinMarkets, r/BitcoinMining, r/BTC, r/BitcoinCash. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/10w4gc2/as_a_newbie_this_is_your_comprehensive_guide_to/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 10:31:49
/r/CryptoCurrency/comments/10w4gc2/as_a_newbie_this_is_your_comprehensive_guide_to/j7kxkc9/

Bitcoin {{pros}} & {{cons}} and related info are in the collapsed comments below. Pros and cons will change for every new post.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 10:31:49
/r/CryptoCurrency/comments/10w4i8n/ethereum_testnet_successfully_processes_firstever/j7kxjss/

#Proof-of-Stake Con-Arguments Below is an argument written by Shippior which won 2nd place in the Proof-of-Stake Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Expanding upon my [previous entry](https://www.reddit.com/r/CryptoCurrency/comments/og0n0a/comment/hab39f3/?utm_source=share&utm_medium=web2x&context=3) about the ways to maliciously make use of the dPoS mechanics there have lately been several examples in which these mechanics have actually led to an undesirable outcome. > > The first example of this is the Juno network. The Juno community proposed a [governance proposal](https://www.mintscan.io/juno/proposals/16) to claw back the airdropped funds of a whale that had "gamed" the airdrop as it was called. More backstory is available in this [Twitter thread](https://twitter.com/TheJunonaut/status/1501957393977995267). The proposal was open for 5 days and the first movers were actually voting in favor of this proposal. Then the whale started to use its fund to try to swing the vote, offering to send a small amount of Juno to people in the community for interacting with the wale in the hopes of gaining their trust enough for them to vote "No" for the proposal to try and swing the vote. In the end the result was "Yes" but it was nowhere near the clear majority that was present in the first few days. > > The second example of this was the [Cosmos proposal #69] (https://www.mintscan.io/cosmos/proposals/69). Altough this proposal was very controversial to begin with and had only a small chance of passing their was an obvious attempt at buying votes. [Jae Kwon] (https://twitter.com/jaekwon) one of the original developers of Cosmos that has since left the chain has said that those who vote "No" or " No with veto" will receive a larger part of the airdrop of his new chain [Gnoland](https://twitter.com/jaekwon/status/1527696562305961984). This has almost certainly swayed people to vote "No" and thereby influenced the voting. > > These two examples show that even with fully available information people will take short term gain over long term gain and thereby can by manipulated to vote against their own interests by entities that want to abuse the system. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/t5mn11/general_concepts_proof_of_stake_conarguments/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Proof_of_Stake) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10vmhhb/daily_general_discussion_february_7_2023_gmt0/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 10:31:43
/r/CryptoCurrency/comments/10w4i8n/ethereum_testnet_successfully_processes_firstever/j7kxj38/

#Proof-of-Stake Pro-Arguments Below is an argument written by FrogsDoBeCool which won 2nd place in the Proof-of-Stake Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > disclaimer: I thought we removed reusing arguments but maybe we readded them, I keep seeing information that we can reuse them, if we can't, that's fine, we should just update the wiki and rules and stuff. > > ​ > > also I still have no idea how to copy the format down when I copy and paste old posts, I've tried a lot and none of it works > > ​ > > [https://www.reddit.com/r/CryptoCurrency/comments/og0nj3/comment/h6imkxe/?utm\_source=share&utm\_medium=web2x&context=3](https://www.reddit.com/r/CryptoCurrency/comments/og0nj3/comment/h6imkxe/?utm_source=share&utm_medium=web2x&context=3) ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/t5mn0d/general_concepts_proof_of_stake_proarguments/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Proof_of_Stake) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 10:31:34
/r/CryptoCurrency/comments/10w4i8n/ethereum_testnet_successfully_processes_firstever/j7kxied/

* Relevant Cointest topics: [Proof of Stake](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_proof-of-stake), [Cardano](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_cardano), [Ethereum](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_ethereum). * Relevant subreddits: r/Bitcoin, r/EthStaker, r/Cardano, r/ProofOfStake. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/10w4i8n/ethereum_testnet_successfully_processes_firstever/j7kxgrp/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 10:31:26
/r/CryptoCurrency/comments/10w4i8n/ethereum_testnet_successfully_processes_firstever/j7kxidd/

Proof-of-Stake [pros](/r/CryptoCurrency/comments/10w4i8n/ethereum_testnet_successfully_processes_firstever/j7kxj38/) & [cons](/r/CryptoCurrency/comments/10w4i8n/ethereum_testnet_successfully_processes_firstever/j7kxjss/) and related info are in the collapsed comments below. Pros and cons will change for every new post.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 10:31:25
/r/CryptoCurrency/comments/10w4i8n/ethereum_testnet_successfully_processes_firstever/j7kxibs/

#Ethereum Con-Arguments Below is an argument written by Maleficent_Plankton which won 1st place in the Ethereum Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Ethereum has drastically changed in the past year now that it has rebranded itself as **Consensus/Settlement layer** for other Layer 2 Execution/Rollup networks. It is no longer trying to be a monolithic blockchain by itself. Because of this shift in design, many of its former CONs are no longer major issues. And many of the CONs that still exist often have a beneficial sides. > > I discuss the CONs of Ethereum and their impact on its users here: > > ## CONs > > **Gas Fees** (major): > > The biggest complaint for Ethereum is its network gas fees. Every transaction needs gas to pay for storage and processing power, and gas prices vary based on demand. Gas price is very volatile and often changes 2-5x in magnitude within the same day. ERC20 transfers are used for a large percentage of cryptocurrencies, and it's the reason much of DeFi is extremely expensive. If I wanted to send ERC20 tokens between exchanges, it's often cheaper to trade for XRP, ALGO, or some other microtransaction coin, transfer it using their other coin's native network, and then trade back into the original token. Basically: use a coin on a different network to avoid fees. > > Typical transaction fees for Ethereum were [between $2-10 over the past year](https://etherscan.io/chart/avg-txfee-usd), but they have shot up to $50+ several times in 2021. > > And that's just for basic transactions. Anyone who has tried to use more complex smart contracts like moving MATIC from Polygon mainnet back to ETH L1 mainnet during a time of high gas fees mid-year in 2021 saw $100-$200 gas fees. Transferring ERC-20 tokens (often $20-50) is also more gas expensive because it can't be done through native transfers like on the Cardano network. It's impractical to use swaps like Uniswap for small transactions due to these fees. > > In particular, One/Many-to-many batch transactions are extremely gas-expensive using Ethereum's account-based model compared to Bitcoin's and Cardano's UXTO-based model. [This batch transaction on Ethereum](https://etherscan.io/tx/0x0fe2542079644e107cbf13690eb9c2c65963ccb79089ff96bfaf8dced2331c92) cost over $5000 while [a similar eUXTO transaction on Cardano](https://adapools.org/transactions/e586c6340ee9e60a6c64f447feffe5f89bdabc7741666ecaa681081957938f56) only cost $0.50 in fees. > > On the other hand, these fees provide Ethereum long-term economic sustainability and resilience against DDoS and spam attacks. > > **Competition from other Smart Contract networks** (moderate): > > Ethereum has enjoyed its lead as the smart contract blockchain due to first-mover advantage. But there are now many efficient smart contract competitors like Algorand, Solana, and Cardano. Ethereum is now facing much competition. Who wants to pay $20 gas fees on Ethereum when you can get similar transactions for under $0.01 with Algo and Solana or $0.30 transactions with Cardano? > > Fortunately, the amount of competition is limited because Ethereum is positioning itself as a Settlement layer whereas these other networks are monolithic networks. All monolithic networks will eventually run into scaling issues due to long-term storage and bandwidth limits. It will really depend on how successful Ethereum's Layer 2 rollup solutions will be. > > **Future uncertainty about Layer 2 solutions** (major): > > Ethereum's long-term success is dependent on the success of its Layer 2 solutions. > > These Layer 2 solutions are still extremely early. Even after a year, L2 has a very fragmented adoption. The majority of centralized exchanges currently do not support Layer 2 rollup networks. A few have started to support Polygon, which is more of a Layer 2 side-chain that saves state every 256 blocks than a Layer 2 rollup. Very few CEXs allow for direct fiat on/off-ramping on L2 networks, which puts those networks out of reach of most users. > > Many of these Layer 2 networks (Arbitrum, Optimism, Loopring, ZKSync, etc), are not interoperable with each other. You can store your tokens on any specific L2 network, but they're stuck there. If you want to move your tokens back to Layer 1 or to another L2 network, you have to pay very expensive smart contract gas fees ($50-300). Eventually, there will be bridges between these networks, but we could be years away from widespread adoption. > > Fragmented liquidity is another huge issue. Each of these L2 networks has its own liquidity pool for each token it supports. You can store your token on the the L2 network, but you won't be able to trade or swap much if there are no liquidity pools for that token. Eventually, there will be Dynamic Automated Market Makers (dAMMs) that can share liquidity between networks, but they are complex and introduce their own weaknesses. > > Both Optimistic and ZK Rollups are handled off-chain and require a separate network nodes or smart contracts as infrastructure to validate transactions or generate ZK Proofs. They are very centralized in how they operate, so there's always the risk that their network operators could cheat their customers. By now, the community seems to agree that ZK rollups are the future rollup solution to decentralized L2 networks. There is only 1 notable instance of Plasma (Ethereum to Polygon network conversion), and no one uses it anymore since the Ethereum-Polygon bridge is easier to use. The biggest competitor to ZK rollups are Optimistic rollups, and those take too long to settle back to Layer 1 (1 week) and are still too expensive to use (20-50% of the cost of L1 Ethereum gas fees for transfers). > > **ZK Rollups** require special infrastructure to generate ZK Proofs. These are very computationally-expensive, potentially [thousands of times](https://vitalik.ca/general/2021/01/05/rollup.html) more expensive that just doing the computation directly. To reduce the cost, they are done completely-centralized by specialized servers. Thus the cost of a ZK Rollup is cheap at about [$0.10 to $.30](https://l2fees.info/). But even at $0.10 per transfer and $0.50 per swap, these are still at least 10x more expensive than costs on Algorand and Solana. Users will have to decide whether the extra cost and hassle of using an L2 platform is worth the extra security of settling on the more-decentralized and secure Ethereum L1 network. > > **Ethereum Proof-of-Stake merge is arriving later than competitors** (moderate): > > The ETH PoS Beacon chain has been released, it's a completely separate blockchain from ETH and won't merge with the main blockchain [until later this year](https://decrypt.co/78690/ethereum-2-staking-tops-21-billion-merge-horizon), giving its competitors plenty of time to provide FUD. We still don't know how successful the merge will be. Currently, stakes are locked, preventing investors from selling. We don't know what will happen to the price once staking unlocks. > > **MEV and Dark Forest attacks** (minor): > > [MEV](https://np.reddit.com/r/MPlankton/comments/rs4wp2/the_dark_forest_of_cryptocurrency/) is actually a pretty big issue for networks with high gas arbitrage and mempools like Ethereum, but most casual users will never notice hostile arbitrage. When you broadcast your transaction to the network, there are armies of bots and automated miners that analyze your transaction to see if they can perform arbitrage strategies on your transaction such as front-running, sandwiching, excluding transactions, stealing/replaying transactions, and other pure-profit plays. "Dark Forest" attacks have reveled that bots are constantly monitoring the network, and they can front-run you unless you have your own private army of miners. > > **Final Word** > > Overall, I still think the PROs outweigh the CONs for Ethereum in the long-run due to its first-mover advantage and the long-term sustainability of the Ethereum network. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2luf/top_10_ethereum_conarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10vmhhb/daily_general_discussion_february_7_2023_gmt0/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 10:31:25
/r/CryptoCurrency/comments/10w4i8n/ethereum_testnet_successfully_processes_firstever/j7kxhih/

#Ethereum Pro-Arguments Below is an argument written by Maleficent_Plankton which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > # Background > > Ethereum is a **multi-layer smart contract ecosystem** that is currently migrating from Proof of Work to Proof of Stake: > > * Layer 1 - Consensus/Settlement layer > * Layer 2 - Execution/Rollup layer > > ## PROs > > **First-mover advantage** (major): > > Like Bitcoin, Ethereum enjoys a first-mover advantage. Being around longer than all other smart contract networks gives Ethereum a massive advantage in adoption, which leads to greater decentralization, security, liquidity pools, and app development. Because of the first-mover advantage, Ethereum easily trounces its competitors in security and popularity, and those competitors have little chance of catching up even though their virtual machines are more efficient than EVM. > > **Resilient to spam and Denial-of-Service attacks** (moderate): > > Due to high gas fees on the Ethereum network, it is extremely resistant to DDoS attacks and spam attacks. Ethereum is battle-tested and hasn't sufferred a major DDoS attack since 2016. > > Some of its competitors are still dealing with DDoS attacks. Every time the Solana network goes down from DDoS attacks, which have happened at least 6 times in the past year, there are huge complaints from the crypto community. You need a large amount of memory and bandwidth to keep up with fast networks like Solana. Similarly, Polygon suffered an unintentional DDoS attack from [Sunflower Farmers game](https://www.coindesk.com/tech/2022/01/06/polygon-under-accidental-attack-from-swarm-of-sunflower-farmers/) in Jan 6. For several days, bots ground the network to a halt. > > **Proof of Stake resistant to 51% attacks** (minor): > > * 51% attack (for PoS and PoW) can only revert or censor transactions. [It cannot be used to steal accounts.](https://thedefiant.io/vitalik-eth-cross-chain-bridges-security/). Every transaction has to result in a consistent state. > * With the exception of client bugs that can have unexpected and widespread effects, deterministic PoS networks are very resistant to reorg attacks since they can be immediately detected when a double-spend happens. Bad nodes will be immediately slashed and that double-spend will never go through. > > **Long-term scalability as a settlement layer** (major): > > Ethereum has long-term scalability through Layer 2 rollups. It can offload all its data bloat and computations off-chain. > > Many monolithic blockchains are fine for now, but they eventually all suffer from massive data bloat on their blockchains unless they also offload to Layer 2 solutions. When this happens, they will be playing catch-up with Ethereum. > > **Economic sustainability** (major): > > * Ethereum PoS is one of the ONLY networks that's expected to be deflationary due to its extremely-high fees. Ethereum PoW's amount of inflation is [now offset 35%](https://watchtheburn.com/) in Jun 2022 by the amount burned per transaction from EIP-1559. After the merge, the issuance is expected to drop 80%, making Ethereum PoS the first popular blockchain that will have **supply deflation** and become a positive-sum investment. > * In contrast, many other blockchains have enjoyed lower transaction fees by subsidizing network costs through charging investors with inflation. > * **Polygon PoS** distributes $400M in inflationary rewards annually but only collects $18M in fees. > * **Solana** collects only $40M in fees but gives away 100x that much ($4B) in rewards [[Source](https://polynya.medium.com/why-rollups-data-shards-are-the-only-sustainable-solution-for-high-scalability-c9aabd6fbb48)]. > * **Cardano** rewards stakers from a diminishing rewards pool that is on schedule to drop 90% in 5 years. > * **Bitcoin** pays miners with block subsidies (set to diminish by 99% in 30 years) that are 50-100x bigger than its transaction fees. When their subsidies disappear, unless they have major governance changes, these networks are either going to see much higher fees, or their security is going to decrease drastically. > * **Avalanche** has 10% inflation, and the [burn rate](https://burnedavax.com/) is 100x smaller than the issuance rate. > * **Algorand** pays from a staking reward pool [that disappears in 2030](https://algorand.foundation/governance/algo-dynamics). Its low transaction fees don't cover the cost of paying for validators and relay nodes. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/tuwvz5/top_coins_ethereum_proarguments_april_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 10:31:16
/r/CryptoCurrency/comments/10w4i8n/ethereum_testnet_successfully_processes_firstever/j7kxgvf/

* Relevant Cointest topics: [Cardano](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_cardano), [Algorand](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_algorand), [Solana](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_solana), [Polkadot](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_polkadot), [Cosmos](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_cosmos), [Proof of Stake](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_proof-of-stake). * Official and related subreddits: r/Ethereum, r/EthTrader, r/EthStaker, r/Cardano, r/Algorand, r/Solana, r/CosmosNetwork, r/Polkadot, r/Tezos. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/10w4i8n/ethereum_testnet_successfully_processes_firstever/j7kxgrp/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 10:31:08
/r/CryptoCurrency/comments/10w4i8n/ethereum_testnet_successfully_processes_firstever/j7kxgrp/

Pro & con info are in the collapsed comments below for the following topics: {{top_level_links}}

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 10:31:07
/r/CryptoCurrency/comments/10w4i8n/ethereum_testnet_successfully_processes_firstever/j7kxgu1/

Ethereum {{pros}} & {{cons}} and related info are in the collapsed comments below. Pros and cons will change for every new post. Submit a pro/con argument in the [Cointest](https://www.reddit.com/r/CointestOfficial/wiki/cointest_policy) and potentially win [Moons](https://coinmarketcap.com/currencies/moon/). Moon prizes by award for the Top Coins category are: **1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 1000.** --- To submit an ETH pro-argument, [click here](https://old.reddit.com/r/CointestOfficial/comments/tuwvz5/top_coins_ethereum_proarguments_april_2022/). | To submit an ETH con-argument, [click here](https://old.reddit.com/r/CointestOfficial/comments/tuww2u/top_coins_ethereum_conarguments_april_2022/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 10:31:07
/r/CryptoCurrency/comments/10w4jvh/ethereum_liquid_staking_trend_continues_to_swell/j7kxg78/

#Proof-of-Stake Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Proof-of-Stake Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > [With proof-of-stake (POS), cryptocurrency owners validate block transactions based on the number of coins a validator stakes.](https://www.investopedia.com/terms/p/proof-stake-pos.asp) And one of the biggest problems with PoS cryptocurrencies is how validators got their coins: > > **DISTRIBUTION PROBLEM** > > In the case of (legit) proof of work coins, everyone can mine coins and there are no coins in existence before the mining process starts. > > Proof of Stake cryptocurrencies, on the other hand, usually have pools of free coins for founders and other associates and early investors get their coins on very advantageous terms. They then can stake them and earn even more coins for doing virtually nothing. Proof of stake benefits early investors and rich holders more than Proof of Work. > > **51% ATTACKS** > > [What is a 51% attack](https://www.investopedia.com/terms/1/51-attack.asp)? It's an attack on a blockchain by a group of people who hold more than 50% of coins (so, of course, it doesn't have to be exactly 51%). The attackers are then able to repeat the same transaction twice or more ([double-spending](https://www.investopedia.com/terms/d/doublespending.asp)) which has disastrous consequences for the network and makes users/investors lose all their trust. > > Why am I mentioning this when 51% attacks are also possible on PoW cryptocurrencies? Because performing such an attack against Proof of Stake cryptocurrencies means it's game over for the project - you cannot . Whereas in the case of Proof of Work there's always a chance for other miners to increase their hash power and defend the network. > > **RISK OF LOSING YOUR COINS** > > In order to prevent 51% attacks and other malicious acts, PoS cryptocurrencies have different defense mechanisms. For example, Ethereum requires you to lock 32 ETH (around $64k at the time of writing) to set up a validator node. If any node performs a harmful act, the penalty is losing all 32 ETH. But here's the problem: you might lose all your ETH even when your node is badly configured or disconnects from the network for some reason. Meaning - you might lose your coins even if you dindu nuffin. > > **HARD FORKS** > > [Hard forks](https://www.investopedia.com/terms/h/hard-fork.asp) are easier to perform on Proof of Stake cryptocurrencies because when the blockhain is split into two, it costs you nothing to keep both coins. In Proof of Work, however, if you want to keep mining both coins, you need to divide or increase your hash power. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/t5mn11/general_concepts_proof_of_stake_conarguments/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Proof_of_Stake) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10vmhhb/daily_general_discussion_february_7_2023_gmt0/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 10:31:01
/r/CryptoCurrency/comments/10w4jvh/ethereum_liquid_staking_trend_continues_to_swell/j7kxfic/

#Proof-of-Stake Pro-Arguments Below is an argument written by roberthonker which won 3rd place in the Proof-of-Stake Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > **Proof Of Stake** > > **PROS:** > > **Energy Consumption** > > - Proof of stake by design is a protocol that requires block proposers to expend less energy than with alternatives like proof of work. With how important of an issue Climate Change has become, there is no doubt that more energy efficient protocols will be better received by the growing number of people who are worried about the future of our planet. I know many people who are put off from Proof of Work coins because they feel guilty for contributing to our climate crisis. > > **Reduced Inflation** > > - Since Proof of Stake requires less energy to operate, this means that less coins are needed to incentivize block proposers. This can reduce the overall inflation rate of a crypto currency greatly, which has a positive impact on price. Many crypto enthusiasts turn to crypto for an alternative to fiat currencies which are being devalued by inflation, so a lower inflation rate is a welcome change for many. > > **Accountability** > > - In a Proof of work blockchain, miners cannot be punished if they act against the best interests of the blockchain. A miner could attempt to attack the network, and then simply start mining again 10 minutes later. In a Proof of Stake system, block proposers can be directly punished for misbehaving. Since block proposers have stake locked in the network, they can be slashed (their coins are burned) which gives them a real reason not to attack the network. ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pfojuo/rcc_cointest_general_concepts_pos_proarguments/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Proof_of_Stake) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 10:30:52
/r/CryptoCurrency/comments/10w4jvh/ethereum_liquid_staking_trend_continues_to_swell/j7kxesb/

* Relevant Cointest topics: [Proof of Stake](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_proof-of-stake), [Cardano](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_cardano), [Ethereum](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_ethereum). * Relevant subreddits: r/Bitcoin, r/EthStaker, r/Cardano, r/ProofOfStake. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/10w4jvh/ethereum_liquid_staking_trend_continues_to_swell/j7kxd4o/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 10:30:44
/r/CryptoCurrency/comments/10w4jvh/ethereum_liquid_staking_trend_continues_to_swell/j7kxepl/

#Ethereum Con-Arguments Below is an argument written by Maleficent_Plankton which won 1st place in the Ethereum Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Ethereum has drastically changed in the past year now that it has rebranded itself as **Consensus/Settlement layer** for other Layer 2 Execution/Rollup networks. It is no longer trying to be a monolithic blockchain by itself. Because of this shift in design, many of its former CONs are no longer major issues. And many of the CONs that still exist often have a beneficial sides. > > I discuss the CONs of Ethereum and their impact on its users here: > > ## CONs > > **Gas Fees** (major): > > The biggest complaint for Ethereum is its network gas fees. Every transaction needs gas to pay for storage and processing power, and gas prices vary based on demand. Gas price is very volatile and often changes 2-5x in magnitude within the same day. ERC20 transfers are used for a large percentage of cryptocurrencies, and it's the reason much of DeFi is extremely expensive. If I wanted to send ERC20 tokens between exchanges, it's often cheaper to trade for XRP, ALGO, or some other microtransaction coin, transfer it using their other coin's native network, and then trade back into the original token. Basically: use a coin on a different network to avoid fees. > > Typical transaction fees for Ethereum were [between $2-10 over the past year](https://etherscan.io/chart/avg-txfee-usd), but they have shot up to $50+ several times in 2021. > > And that's just for basic transactions. Anyone who has tried to use more complex smart contracts like moving MATIC from Polygon mainnet back to ETH L1 mainnet during a time of high gas fees mid-year in 2021 saw $100-$200 gas fees. Transferring ERC-20 tokens (often $20-50) is also more gas expensive because it can't be done through native transfers like on the Cardano network. It's impractical to use swaps like Uniswap for small transactions due to these fees. > > In particular, One/Many-to-many batch transactions are extremely gas-expensive using Ethereum's account-based model compared to Bitcoin's and Cardano's UXTO-based model. [This batch transaction on Ethereum](https://etherscan.io/tx/0x0fe2542079644e107cbf13690eb9c2c65963ccb79089ff96bfaf8dced2331c92) cost over $5000 while [a similar eUXTO transaction on Cardano](https://adapools.org/transactions/e586c6340ee9e60a6c64f447feffe5f89bdabc7741666ecaa681081957938f56) only cost $0.50 in fees. > > On the other hand, these fees provide Ethereum long-term economic sustainability and resilience against DDoS and spam attacks. > > **Competition from other Smart Contract networks** (moderate): > > Ethereum has enjoyed its lead as the smart contract blockchain due to first-mover advantage. But there are now many efficient smart contract competitors like Algorand, Solana, and Cardano. Ethereum is now facing much competition. Who wants to pay $20 gas fees on Ethereum when you can get similar transactions for under $0.01 with Algo and Solana or $0.30 transactions with Cardano? > > Fortunately, the amount of competition is limited because Ethereum is positioning itself as a Settlement layer whereas these other networks are monolithic networks. All monolithic networks will eventually run into scaling issues due to long-term storage and bandwidth limits. It will really depend on how successful Ethereum's Layer 2 rollup solutions will be. > > **Future uncertainty about Layer 2 solutions** (major): > > Ethereum's long-term success is dependent on the success of its Layer 2 solutions. > > These Layer 2 solutions are still extremely early. Even after a year, L2 has a very fragmented adoption. The majority of centralized exchanges currently do not support Layer 2 rollup networks. A few have started to support Polygon, which is more of a Layer 2 side-chain that saves state every 256 blocks than a Layer 2 rollup. Very few CEXs allow for direct fiat on/off-ramping on L2 networks, which puts those networks out of reach of most users. > > Many of these Layer 2 networks (Arbitrum, Optimism, Loopring, ZKSync, etc), are not interoperable with each other. You can store your tokens on any specific L2 network, but they're stuck there. If you want to move your tokens back to Layer 1 or to another L2 network, you have to pay very expensive smart contract gas fees ($50-300). Eventually, there will be bridges between these networks, but we could be years away from widespread adoption. > > Fragmented liquidity is another huge issue. Each of these L2 networks has its own liquidity pool for each token it supports. You can store your token on the the L2 network, but you won't be able to trade or swap much if there are no liquidity pools for that token. Eventually, there will be Dynamic Automated Market Makers (dAMMs) that can share liquidity between networks, but they are complex and introduce their own weaknesses. > > Both Optimistic and ZK Rollups are handled off-chain and require a separate network nodes or smart contracts as infrastructure to validate transactions or generate ZK Proofs. They are very centralized in how they operate, so there's always the risk that their network operators could cheat their customers. By now, the community seems to agree that ZK rollups are the future rollup solution to decentralized L2 networks. There is only 1 notable instance of Plasma (Ethereum to Polygon network conversion), and no one uses it anymore since the Ethereum-Polygon bridge is easier to use. The biggest competitor to ZK rollups are Optimistic rollups, and those take too long to settle back to Layer 1 (1 week) and are still too expensive to use (20-50% of the cost of L1 Ethereum gas fees for transfers). > > **ZK Rollups** require special infrastructure to generate ZK Proofs. These are very computationally-expensive, potentially [thousands of times](https://vitalik.ca/general/2021/01/05/rollup.html) more expensive that just doing the computation directly. To reduce the cost, they are done completely-centralized by specialized servers. Thus the cost of a ZK Rollup is cheap at about [$0.10 to $.30](https://l2fees.info/). But even at $0.10 per transfer and $0.50 per swap, these are still at least 10x more expensive than costs on Algorand and Solana. Users will have to decide whether the extra cost and hassle of using an L2 platform is worth the extra security of settling on the more-decentralized and secure Ethereum L1 network. > > **Ethereum Proof-of-Stake merge is arriving later than competitors** (moderate): > > The ETH PoS Beacon chain has been released, it's a completely separate blockchain from ETH and won't merge with the main blockchain [until later this year](https://decrypt.co/78690/ethereum-2-staking-tops-21-billion-merge-horizon), giving its competitors plenty of time to provide FUD. We still don't know how successful the merge will be. Currently, stakes are locked, preventing investors from selling. We don't know what will happen to the price once staking unlocks. > > **MEV and Dark Forest attacks** (minor): > > [MEV](https://np.reddit.com/r/MPlankton/comments/rs4wp2/the_dark_forest_of_cryptocurrency/) is actually a pretty big issue for networks with high gas arbitrage and mempools like Ethereum, but most casual users will never notice hostile arbitrage. When you broadcast your transaction to the network, there are armies of bots and automated miners that analyze your transaction to see if they can perform arbitrage strategies on your transaction such as front-running, sandwiching, excluding transactions, stealing/replaying transactions, and other pure-profit plays. "Dark Forest" attacks have reveled that bots are constantly monitoring the network, and they can front-run you unless you have your own private army of miners. > > **Final Word** > > Overall, I still think the PROs outweigh the CONs for Ethereum in the long-run due to its first-mover advantage and the long-term sustainability of the Ethereum network. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2luf/top_10_ethereum_conarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10vmhhb/daily_general_discussion_february_7_2023_gmt0/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 10:30:43
/r/CryptoCurrency/comments/10w4jvh/ethereum_liquid_staking_trend_continues_to_swell/j7kxer8/

Proof-of-Stake {{pros}} & {{cons}} and related info are in the collapsed comments below. Pros and cons will change for every new post.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 10:30:43
/r/CryptoCurrency/comments/10w4jvh/ethereum_liquid_staking_trend_continues_to_swell/j7kxdyt/

#Ethereum Pro-Arguments Below is an argument written by Maleficent_Plankton which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > # Background > > Ethereum is a **multi-layer smart contract ecosystem** that is currently migrating from Proof of Work to Proof of Stake: > > * Layer 1 - Consensus/Settlement layer > * Layer 2 - Execution/Rollup layer > > ## PROs > > **First-mover advantage** (major): > > Like Bitcoin, Ethereum enjoys a first-mover advantage. Being around longer than all other smart contract networks gives Ethereum a massive advantage in adoption, which leads to greater decentralization, security, liquidity pools, and app development. Because of the first-mover advantage, Ethereum easily trounces its competitors in security and popularity, and those competitors have little chance of catching up even though their virtual machines are more efficient than EVM. > > **Resilient to spam and Denial-of-Service attacks** (moderate): > > Due to high gas fees on the Ethereum network, it is extremely resistant to DDoS attacks and spam attacks. Ethereum is battle-tested and hasn't sufferred a major DDoS attack since 2016. > > Some of its competitors are still dealing with DDoS attacks. Every time the Solana network goes down from DDoS attacks, which have happened at least 6 times in the past year, there are huge complaints from the crypto community. You need a large amount of memory and bandwidth to keep up with fast networks like Solana. Similarly, Polygon suffered an unintentional DDoS attack from [Sunflower Farmers game](https://www.coindesk.com/tech/2022/01/06/polygon-under-accidental-attack-from-swarm-of-sunflower-farmers/) in Jan 6. For several days, bots ground the network to a halt. > > **Proof of Stake resistant to 51% attacks** (minor): > > * 51% attack (for PoS and PoW) can only revert or censor transactions. [It cannot be used to steal accounts.](https://thedefiant.io/vitalik-eth-cross-chain-bridges-security/). Every transaction has to result in a consistent state. > * With the exception of client bugs that can have unexpected and widespread effects, deterministic PoS networks are very resistant to reorg attacks since they can be immediately detected when a double-spend happens. Bad nodes will be immediately slashed and that double-spend will never go through. > > **Long-term scalability as a settlement layer** (major): > > Ethereum has long-term scalability through Layer 2 rollups. It can offload all its data bloat and computations off-chain. > > Many monolithic blockchains are fine for now, but they eventually all suffer from massive data bloat on their blockchains unless they also offload to Layer 2 solutions. When this happens, they will be playing catch-up with Ethereum. > > **Economic sustainability** (major): > > * Ethereum PoS is one of the ONLY networks that's expected to be deflationary due to its extremely-high fees. Ethereum PoW's amount of inflation is [now offset 35%](https://watchtheburn.com/) in Jun 2022 by the amount burned per transaction from EIP-1559. After the merge, the issuance is expected to drop 80%, making Ethereum PoS the first popular blockchain that will have **supply deflation** and become a positive-sum investment. > * In contrast, many other blockchains have enjoyed lower transaction fees by subsidizing network costs through charging investors with inflation. > * **Polygon PoS** distributes $400M in inflationary rewards annually but only collects $18M in fees. > * **Solana** collects only $40M in fees but gives away 100x that much ($4B) in rewards [[Source](https://polynya.medium.com/why-rollups-data-shards-are-the-only-sustainable-solution-for-high-scalability-c9aabd6fbb48)]. > * **Cardano** rewards stakers from a diminishing rewards pool that is on schedule to drop 90% in 5 years. > * **Bitcoin** pays miners with block subsidies (set to diminish by 99% in 30 years) that are 50-100x bigger than its transaction fees. When their subsidies disappear, unless they have major governance changes, these networks are either going to see much higher fees, or their security is going to decrease drastically. > * **Avalanche** has 10% inflation, and the [burn rate](https://burnedavax.com/) is 100x smaller than the issuance rate. > * **Algorand** pays from a staking reward pool [that disappears in 2030](https://algorand.foundation/governance/algo-dynamics). Its low transaction fees don't cover the cost of paying for validators and relay nodes. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/tuwvz5/top_coins_ethereum_proarguments_april_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 10:30:34
/r/CryptoCurrency/comments/10w4jvh/ethereum_liquid_staking_trend_continues_to_swell/j7kxd6o/

Ethereum {{pros}} & {{cons}} and related info are in the collapsed comments below. Pros and cons will change for every new post. Submit a pro/con argument in the [Cointest](https://www.reddit.com/r/CointestOfficial/wiki/cointest_policy) and potentially win [Moons](https://coinmarketcap.com/currencies/moon/). Moon prizes by award for the Top Coins category are: **1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 1000.** --- To submit an ETH pro-argument, [click here](https://old.reddit.com/r/CointestOfficial/comments/tuwvz5/top_coins_ethereum_proarguments_april_2022/). | To submit an ETH con-argument, [click here](https://old.reddit.com/r/CointestOfficial/comments/tuww2u/top_coins_ethereum_conarguments_april_2022/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 10:30:26
/r/CryptoCurrency/comments/10w4jvh/ethereum_liquid_staking_trend_continues_to_swell/j7kxd80/

* Relevant Cointest topics: [Cardano](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_cardano), [Algorand](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_algorand), [Solana](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_solana), [Polkadot](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_polkadot), [Cosmos](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_cosmos), [Proof of Stake](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_proof-of-stake). * Official and related subreddits: r/Ethereum, r/EthTrader, r/EthStaker, r/Cardano, r/Algorand, r/Solana, r/CosmosNetwork, r/Polkadot, r/Tezos. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/10w4jvh/ethereum_liquid_staking_trend_continues_to_swell/j7kxd4o/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 10:30:26
/r/CryptoCurrency/comments/10w4jvh/ethereum_liquid_staking_trend_continues_to_swell/j7kxd4o/

Pro & con info are in the collapsed comments below for the following topics: {{top_level_links}}

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 10:30:25
/r/CryptoCurrency/comments/10w4lgm/bernstein_ethereum_activity_has_picked_up_with/j7kxd1j/

#Ethereum Con-Arguments Below is an argument written by Maleficent_Plankton which won 1st place in the Ethereum Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Ethereum has drastically changed in the past year now that it has rebranded itself as **Consensus/Settlement layer** for other Layer 2 Execution/Rollup networks. It is no longer trying to be a monolithic blockchain by itself. Because of this shift in design, many of its former CONs are no longer major issues. And many of the CONs that still exist often have a beneficial sides. > > I discuss the CONs of Ethereum and their impact on its users here: > > ## CONs > > **Gas Fees** (major): > > The biggest complaint for Ethereum is its network gas fees. Every transaction needs gas to pay for storage and processing power, and gas prices vary based on demand. Gas price is very volatile and often changes 2-5x in magnitude within the same day. ERC20 transfers are used for a large percentage of cryptocurrencies, and it's the reason much of DeFi is extremely expensive. If I wanted to send ERC20 tokens between exchanges, it's often cheaper to trade for XRP, ALGO, or some other microtransaction coin, transfer it using their other coin's native network, and then trade back into the original token. Basically: use a coin on a different network to avoid fees. > > Typical transaction fees for Ethereum were [between $2-10 over the past year](https://etherscan.io/chart/avg-txfee-usd), but they have shot up to $50+ several times in 2021. > > And that's just for basic transactions. Anyone who has tried to use more complex smart contracts like moving MATIC from Polygon mainnet back to ETH L1 mainnet during a time of high gas fees mid-year in 2021 saw $100-$200 gas fees. Transferring ERC-20 tokens (often $20-50) is also more gas expensive because it can't be done through native transfers like on the Cardano network. It's impractical to use swaps like Uniswap for small transactions due to these fees. > > In particular, One/Many-to-many batch transactions are extremely gas-expensive using Ethereum's account-based model compared to Bitcoin's and Cardano's UXTO-based model. [This batch transaction on Ethereum](https://etherscan.io/tx/0x0fe2542079644e107cbf13690eb9c2c65963ccb79089ff96bfaf8dced2331c92) cost over $5000 while [a similar eUXTO transaction on Cardano](https://adapools.org/transactions/e586c6340ee9e60a6c64f447feffe5f89bdabc7741666ecaa681081957938f56) only cost $0.50 in fees. > > On the other hand, these fees provide Ethereum long-term economic sustainability and resilience against DDoS and spam attacks. > > **Competition from other Smart Contract networks** (moderate): > > Ethereum has enjoyed its lead as the smart contract blockchain due to first-mover advantage. But there are now many efficient smart contract competitors like Algorand, Solana, and Cardano. Ethereum is now facing much competition. Who wants to pay $20 gas fees on Ethereum when you can get similar transactions for under $0.01 with Algo and Solana or $0.30 transactions with Cardano? > > Fortunately, the amount of competition is limited because Ethereum is positioning itself as a Settlement layer whereas these other networks are monolithic networks. All monolithic networks will eventually run into scaling issues due to long-term storage and bandwidth limits. It will really depend on how successful Ethereum's Layer 2 rollup solutions will be. > > **Future uncertainty about Layer 2 solutions** (major): > > Ethereum's long-term success is dependent on the success of its Layer 2 solutions. > > These Layer 2 solutions are still extremely early. Even after a year, L2 has a very fragmented adoption. The majority of centralized exchanges currently do not support Layer 2 rollup networks. A few have started to support Polygon, which is more of a Layer 2 side-chain that saves state every 256 blocks than a Layer 2 rollup. Very few CEXs allow for direct fiat on/off-ramping on L2 networks, which puts those networks out of reach of most users. > > Many of these Layer 2 networks (Arbitrum, Optimism, Loopring, ZKSync, etc), are not interoperable with each other. You can store your tokens on any specific L2 network, but they're stuck there. If you want to move your tokens back to Layer 1 or to another L2 network, you have to pay very expensive smart contract gas fees ($50-300). Eventually, there will be bridges between these networks, but we could be years away from widespread adoption. > > Fragmented liquidity is another huge issue. Each of these L2 networks has its own liquidity pool for each token it supports. You can store your token on the the L2 network, but you won't be able to trade or swap much if there are no liquidity pools for that token. Eventually, there will be Dynamic Automated Market Makers (dAMMs) that can share liquidity between networks, but they are complex and introduce their own weaknesses. > > Both Optimistic and ZK Rollups are handled off-chain and require a separate network nodes or smart contracts as infrastructure to validate transactions or generate ZK Proofs. They are very centralized in how they operate, so there's always the risk that their network operators could cheat their customers. By now, the community seems to agree that ZK rollups are the future rollup solution to decentralized L2 networks. There is only 1 notable instance of Plasma (Ethereum to Polygon network conversion), and no one uses it anymore since the Ethereum-Polygon bridge is easier to use. The biggest competitor to ZK rollups are Optimistic rollups, and those take too long to settle back to Layer 1 (1 week) and are still too expensive to use (20-50% of the cost of L1 Ethereum gas fees for transfers). > > **ZK Rollups** require special infrastructure to generate ZK Proofs. These are very computationally-expensive, potentially [thousands of times](https://vitalik.ca/general/2021/01/05/rollup.html) more expensive that just doing the computation directly. To reduce the cost, they are done completely-centralized by specialized servers. Thus the cost of a ZK Rollup is cheap at about [$0.10 to $.30](https://l2fees.info/). But even at $0.10 per transfer and $0.50 per swap, these are still at least 10x more expensive than costs on Algorand and Solana. Users will have to decide whether the extra cost and hassle of using an L2 platform is worth the extra security of settling on the more-decentralized and secure Ethereum L1 network. > > **Ethereum Proof-of-Stake merge is arriving later than competitors** (moderate): > > The ETH PoS Beacon chain has been released, it's a completely separate blockchain from ETH and won't merge with the main blockchain [until later this year](https://decrypt.co/78690/ethereum-2-staking-tops-21-billion-merge-horizon), giving its competitors plenty of time to provide FUD. We still don't know how successful the merge will be. Currently, stakes are locked, preventing investors from selling. We don't know what will happen to the price once staking unlocks. > > **MEV and Dark Forest attacks** (minor): > > [MEV](https://np.reddit.com/r/MPlankton/comments/rs4wp2/the_dark_forest_of_cryptocurrency/) is actually a pretty big issue for networks with high gas arbitrage and mempools like Ethereum, but most casual users will never notice hostile arbitrage. When you broadcast your transaction to the network, there are armies of bots and automated miners that analyze your transaction to see if they can perform arbitrage strategies on your transaction such as front-running, sandwiching, excluding transactions, stealing/replaying transactions, and other pure-profit plays. "Dark Forest" attacks have reveled that bots are constantly monitoring the network, and they can front-run you unless you have your own private army of miners. > > **Final Word** > > Overall, I still think the PROs outweigh the CONs for Ethereum in the long-run due to its first-mover advantage and the long-term sustainability of the Ethereum network. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2luf/top_10_ethereum_conarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10vmhhb/daily_general_discussion_february_7_2023_gmt0/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 10:30:24
/r/CryptoCurrency/comments/10w4lgm/bernstein_ethereum_activity_has_picked_up_with/j7kxca9/

#Ethereum Pro-Arguments Below is an argument written by Maleficent_Plankton which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > # Background > > Ethereum is a **multi-layer smart contract ecosystem** that is currently migrating from Proof of Work to Proof of Stake: > > * Layer 1 - Consensus/Settlement layer > * Layer 2 - Execution/Rollup layer > > ## PROs > > **First-mover advantage** (major): > > Like Bitcoin, Ethereum enjoys a first-mover advantage. Being around longer than all other smart contract networks gives Ethereum a massive advantage in adoption, which leads to greater decentralization, security, liquidity pools, and app development. Because of the first-mover advantage, Ethereum easily trounces its competitors in security and popularity, and those competitors have little chance of catching up even though their virtual machines are more efficient than EVM. > > **Resilient to spam and Denial-of-Service attacks** (moderate): > > Due to high gas fees on the Ethereum network, it is extremely resistant to DDoS attacks and spam attacks. Ethereum is battle-tested and hasn't sufferred a major DDoS attack since 2016. > > Some of its competitors are still dealing with DDoS attacks. Every time the Solana network goes down from DDoS attacks, which have happened at least 6 times in the past year, there are huge complaints from the crypto community. You need a large amount of memory and bandwidth to keep up with fast networks like Solana. Similarly, Polygon suffered an unintentional DDoS attack from [Sunflower Farmers game](https://www.coindesk.com/tech/2022/01/06/polygon-under-accidental-attack-from-swarm-of-sunflower-farmers/) in Jan 6. For several days, bots ground the network to a halt. > > **Proof of Stake resistant to 51% attacks** (minor): > > * 51% attack (for PoS and PoW) can only revert or censor transactions. [It cannot be used to steal accounts.](https://thedefiant.io/vitalik-eth-cross-chain-bridges-security/). Every transaction has to result in a consistent state. > * With the exception of client bugs that can have unexpected and widespread effects, deterministic PoS networks are very resistant to reorg attacks since they can be immediately detected when a double-spend happens. Bad nodes will be immediately slashed and that double-spend will never go through. > > **Long-term scalability as a settlement layer** (major): > > Ethereum has long-term scalability through Layer 2 rollups. It can offload all its data bloat and computations off-chain. > > Many monolithic blockchains are fine for now, but they eventually all suffer from massive data bloat on their blockchains unless they also offload to Layer 2 solutions. When this happens, they will be playing catch-up with Ethereum. > > **Economic sustainability** (major): > > * Ethereum PoS is one of the ONLY networks that's expected to be deflationary due to its extremely-high fees. Ethereum PoW's amount of inflation is [now offset 35%](https://watchtheburn.com/) in Jun 2022 by the amount burned per transaction from EIP-1559. After the merge, the issuance is expected to drop 80%, making Ethereum PoS the first popular blockchain that will have **supply deflation** and become a positive-sum investment. > * In contrast, many other blockchains have enjoyed lower transaction fees by subsidizing network costs through charging investors with inflation. > * **Polygon PoS** distributes $400M in inflationary rewards annually but only collects $18M in fees. > * **Solana** collects only $40M in fees but gives away 100x that much ($4B) in rewards [[Source](https://polynya.medium.com/why-rollups-data-shards-are-the-only-sustainable-solution-for-high-scalability-c9aabd6fbb48)]. > * **Cardano** rewards stakers from a diminishing rewards pool that is on schedule to drop 90% in 5 years. > * **Bitcoin** pays miners with block subsidies (set to diminish by 99% in 30 years) that are 50-100x bigger than its transaction fees. When their subsidies disappear, unless they have major governance changes, these networks are either going to see much higher fees, or their security is going to decrease drastically. > * **Avalanche** has 10% inflation, and the [burn rate](https://burnedavax.com/) is 100x smaller than the issuance rate. > * **Algorand** pays from a staking reward pool [that disappears in 2030](https://algorand.foundation/governance/algo-dynamics). Its low transaction fees don't cover the cost of paying for validators and relay nodes. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/tuwvz5/top_coins_ethereum_proarguments_april_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 10:30:15
/r/CryptoCurrency/comments/10w4lgm/bernstein_ethereum_activity_has_picked_up_with/j7kxbes/

* Relevant Cointest topics: [Cardano](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_cardano), [Algorand](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_algorand), [Solana](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_solana), [Polkadot](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_polkadot), [Cosmos](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_cosmos), [Proof of Stake](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_proof-of-stake). * Official and related subreddits: r/Ethereum, r/EthTrader, r/EthStaker, r/Cardano, r/Algorand, r/Solana, r/CosmosNetwork, r/Polkadot, r/Tezos. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/10w4lgm/bernstein_ethereum_activity_has_picked_up_with/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 10:30:05
/r/CryptoCurrency/comments/10w4lgm/bernstein_ethereum_activity_has_picked_up_with/j7kxbbw/

Ethereum {{pros}} & {{cons}} and related info are in the collapsed comments below. Pros and cons will change for every new post. Submit a pro/con argument in the [Cointest](https://www.reddit.com/r/CointestOfficial/wiki/cointest_policy) and potentially win [Moons](https://coinmarketcap.com/currencies/moon/). Moon prizes by award for the Top Coins category are: **1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 1000.** --- To submit an ETH pro-argument, [click here](https://old.reddit.com/r/CointestOfficial/comments/tuwvz5/top_coins_ethereum_proarguments_april_2022/). | To submit an ETH con-argument, [click here](https://old.reddit.com/r/CointestOfficial/comments/tuww2u/top_coins_ethereum_conarguments_april_2022/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 10:30:04
/r/CryptoCurrency/comments/10w3xqa/2023_jimmy_kimmel_talks_to_2003_jimmy_kimmel/j7kv9nv/

#Bitcoin Con-Arguments Below is an argument written by Far-Scholar9028 which won 3rd place in the Bitcoin Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Understanding the benefits and drawbacks of the bitcoin blockchain is essential if you're considering investing in bitcoin. In the previous thread, we named a few pros of BTC, now let's move on to the cons of BTC. > > **Volatility** > > Bitcoin is a traders dream due to volatility, however that is also one of its biggest issues. Bitcoin will never be used as a currency due to price fluctuations. If a car was first purchased for 2 BTC and returned a week later, for instance, should 2 BTC be returned despite the fact that the valuation has increased, or should the new amount (calculated in accordance with current valuation) be sent? > > **Security** > > Bitcoin Network Security: There might be undiscovered weaknesses in the Bitcoin system. Due to the fact that this system is still relatively new, if Bitcoins were to become extensively used and a fault was discovered, it might greatly increase the wealth of the exploiter at the risk of destroying the Bitcoin economy. > > Wallet Security: Wallets are primed to be lost, hacked and stolen. Bitcoins are virtually lost if a hard drive crashes, a virus corrupts data, the wallet file is corrupted, and the seed phrase is not backed up. Nothing could be done to get it back. These coins will remain abandoned in the system forever. Investors and users could become bankrupt as a result in a matter of seconds with no chance of recovery. > > **Proof-of-Work** > > The PoW is a mechanism for assisting a group of strangers who are also self-interested, equal, and there are no subordinates in the network, according to the Satoshi Nakamoto Institute. PoW requires a lot of energy. It's expensive and demands a lot of processing power. It is susceptible to the infamous 51% assault, which means that if hostile miners control 51% of the network, they might seize dominance and render decentralization useless. > > Edit: Sources: > > https://paxful.com/university/bitcoin-volatility/ > > https://www.mandiant.com/resources/blog/cryptocurrency-blockchain-networks-facing-new-security-paradigms > > https://nakamotoinstitute.org/mempool/the-proof-of-work-concept/#selection-139.6-139.409 ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpuiar/top_coins_bitcoin_conarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10vmhhb/daily_general_discussion_february_7_2023_gmt0/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 10:16:00
/r/CryptoCurrency/comments/10w3xqa/2023_jimmy_kimmel_talks_to_2003_jimmy_kimmel/j7kv8wa/

#Bitcoin Pro-Arguments Below is an argument written by Nostalg33k which won 1st place in the Bitcoin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Writing a Pro argument for Bitcoin in 2022 seems complicated because everything has been said... or did it? > > Edit: I have a small bag of Bitcoin currently valued around 600 bucks. I am also invested in crypto around 2000 bucks which are always moving when Bitcoin is moving. Financial disclosure should be mandatory in these arguments =) > > # Bitcoin is the king of POW: Why it matters and why we need a strong Bitcoin > > So as the title suggests it, the recent news from Ethereum switching from POW to POS makes Bitcoin the sole serious POW cryptocurrency. In this write up, we are going to discuss the three main strength of Bitcoin, security, decentralization, and incentive for green energy production. In this write up we are not going to talk about speculation or the financial side of Bitcoin. Bitcoin is a highly liquid asset and has become nearly universally known as an investment. Many arguments have been made in favor of Bitcoin as an investment and if you want to read one, just go to past cointests. > > ​ > > Of course, the main feature of Bitcoin is the Permissionless aspect. This won't be tackled at all as I think it deserves its own topic. > > ​ > > # 1) Bitcoin: High security > > This topic has also been talked to death: Bitcoin is ultra secure thanks to its Blockchain and the way it is verified through proof of work. To explain this let me quote IBM: > > ​ > > >Public blockchain networks typically allow anyone to join and for participants to remain anonymous. A public blockchain uses internet-connected computers to validate transactions and achieve consensus. Bitcoin is probably the most well-known example of a public blockchain, and it achieves consensus through "bitcoin mining." Computers on the bitcoin network, or “miners,” try to solve a complex cryptographic problem to create proof of work and thereby validate the transaction. Outside of public keys, there are few identity and access controls in this type of network. > > > >[IBM on Blockchain security](https://www.ibm.com/topics/blockchain-security) > > ​ > > Mining is measured in Hashrate. Here is the explanation of Hashrate: > > >Hash rate, sometimes referred to as hashrate, is a measure of the computing power on a cryptocurrency network that serves as a key security indicator. It measures the total computational power used by a “proof-of-work” (POW) cryptocurrency network to process transactions in a blockchain. > > > >[USNEWS explains hashrate](https://money.usnews.com/investing/term/hash-rate#:~:text=Hash%20rate%2C%20sometimes%20referred%20to,process%20transactions%20in%20a%20blockchain) > > ​ > > So if the hashrate measures the security of the network, one may asks themselves: "Did the security of Bitcoin slowed when the price fell ?" > > [The hashrate is at an ATH and growing making Bitcoin more and more secure as it continues to build over time](https://ycharts.com/indicators/bitcoin_network_hash_rate#:~:text=Basic%20Info,101.2%25%20from%20one%20year%20ago) > > ​ > > So Bitcoin has never been as secure as it is today which makes it ultra valuable as a way to settle financial transactions. Yes holding Bitcoin for a long time is risky but using it as a medium to settle international transaction may currently be the securest and one of the best way to do so. > > While Bitcoin is safe... what if a big part fails ? > > ​ > > # 2) Bitcoin mining: Too big to fail. > > ​ > > So this write up could be seen as a POW write up, which it is to an extent. But Bitcoin offers its history and shows that it can survive the disparition of a big part of the network. > > Decentralization allows for parts of the network to disappear and for the rest to take the mantle of securing the network. Yes, mining pools may grow too large for their own sake BUT in the end (nothing even matters) Bitcoin is heavily decentralized. It is so decentralized that, when China (which had a big part of Bitcoin mining) banned mining, Bitcoin just went through like nothing happened. Yes the hashrate fell a bit, the value too, but if we look back, it was nothing extraordinary. > > ​ > > So if Bitcoin is highly secure and if it can survive part of the hashrate going bye bye, what makes it so good? What is the difference with any POW Cryptocurrency right now? > > ​ > > # 3) Bitcoin: propping up the green energy sector. > > ​ > > POW uses energy. One of the biggest concern about POW is the energy. While Ethereum was using GPUs and was asic resistant. Bitcoin mining is built differently. A long time ago, under oath, people discussed the environmental impact of Bitcoin Mining and I made a post explaining what was said: > > ​ > > >The Energy Fud Was Killed > > The most important thing that happened: The narrative that Bitcoin is too energy intensive was totally reversed. > > Experts of the sector explained that, Wind Farms and Solar Farms, have a variable load. This variable load means that sometimes they lose money because they produce too much and there is not enough demand. Bitcoin mining provides a variable base load for these projects. What it means is that, mining can be turned on and off depending on demand. It was revealed that most of these wind and solar farms would simply not exist without Bitcoin Farming as baseline customers. > > There are still miners that are using coal plants and fossil fuel but the leaders of the industry are developing in tandem with the green energy sector. > > >[My post](https://www.reddit.com/r/CryptoCurrency/comments/s99phv/yesterday_one_of_the_most_bullish_events_ever/) > > ​ > > # Conclusion: Bitcoin is the flagship of POW and it is a feature not a bug. > > Bitcoin, thanks to its value and tokenomics is seen as a good investment, this is also why miners commit huge amount of ressources to take the hashrate to new heights. These miners help the US grid to become more and more resilient. The future of Crypto and of green energy relies a lot on Bitcoin. Bitcoin has proven time and time again that it can shoulder these changes. Bitcoin is a good piece of technology and I hope people continue to invest in it because it is doing a lot of good for our future ! ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpui9i/top_coins_bitcoin_proarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 10:15:51
/r/CryptoCurrency/comments/10w3xqa/2023_jimmy_kimmel_talks_to_2003_jimmy_kimmel/j7kv85j/

Bitcoin {{pros}} & {{cons}} and related info are in the collapsed comments below. Pros and cons will change for every new post.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 10:15:42
/r/CryptoCurrency/comments/10w3xqa/2023_jimmy_kimmel_talks_to_2003_jimmy_kimmel/j7kv86u/

* Relevant Cointest topics: [Bitcoin Cash](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_bitcoin_cash), [Litecoin](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_litecoin), [Lightning Network](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_lightning_network), [Proof of Work](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_proof-of-work) * Official and related subreddits: r/Bitcoin, r/BitcoinMarkets, r/BitcoinMining, r/BTC, r/BitcoinCash. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/10w3xqa/2023_jimmy_kimmel_talks_to_2003_jimmy_kimmel/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 10:15:42
/r/CryptoCurrency/comments/10w42vx/analyst_benjamin_cowen_reveals_worstcase_scenario/j7kv75x/

#Bitcoin Pro-Arguments Below is an argument written by Far-Scholar9028 which won 3rd place in the Bitcoin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Understanding the benefits and drawbacks of the bitcoin blockchain is essential if you're considering investing in bitcoin. Let's start off with the positives of BTC. > > **21 Million Fixed Supply** > > Bitcoin cannot be printed by governments at will, unlike fiat money like the US dollar. There are only a total of 21 million bitcoins in existence. An estimated 3.7 million bitcoins have been lost, which means they will never be found without the private key. Citizens all over the world are using bitcoin as an inflation hedge due to the continued money creation by central banks around the world. > > **Decentralization** > > The ability to conduct financial transactions without a third-party intermediary watching over the transaction is referred to as decentralization. The nodes, or individual computers that make up the Bitcoin network, are numerous. Decentralization is crucial because it precludes an attack on a single point of failure, making it nearly impossible for any government or organization to bring down the BTC network. > > **25/7/365** > > Bitcoin doesn't have afternoon or weekend closing times like conventional financial markets do. Bitcoin can be traded 365 days a year, around the clock. Furthermore, sending bitcoin is quicker than making a bank transfer. The Bitcoin network is accessible to everyone. It is an open peer-to-peer network that everyone can utilize, regardless of where they reside or how much money they have. > > **Self Custody** > > Self-custody is vital for cryptocurrencies like bitcoin. You don't have to rely on a single corporation, a bank, or legal documents to acquire full ownership of your possessions. In nations around the world with weak property rights, this has a huge impact and gives people more power and control over their finances. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpui9i/top_coins_bitcoin_proarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 10:15:32
/r/CryptoCurrency/comments/10w42vx/analyst_benjamin_cowen_reveals_worstcase_scenario/j7kv6h2/

Bitcoin {{pros}} & {{cons}} and related info are in the collapsed comments below. Pros and cons will change for every new post.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 10:15:23
/r/CryptoCurrency/comments/10w42vx/analyst_benjamin_cowen_reveals_worstcase_scenario/j7kv6hp/

* Relevant Cointest topics: [Bitcoin Cash](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_bitcoin_cash), [Litecoin](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_litecoin), [Lightning Network](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_lightning_network), [Proof of Work](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_proof-of-work) * Official and related subreddits: r/Bitcoin, r/BitcoinMarkets, r/BitcoinMining, r/BTC, r/BitcoinCash. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/10w42vx/analyst_benjamin_cowen_reveals_worstcase_scenario/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 10:15:23
/r/CryptoCurrency/comments/10w45fs/double_jumptokyo_inc_to_produce_official_nft/j7kv6dz/

#NFT Con-Arguments Below is an argument written by Maleficent_Plankton which won 1st place in the NFT Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > ####**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? [Click here](/r/CointestOfficial/comments/v2jl6x/general_concepts_nft_conarguments_june_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_NFT) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10vmhhb/daily_general_discussion_february_7_2023_gmt0/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 10:15:22
/r/CryptoCurrency/comments/10w45fs/double_jumptokyo_inc_to_produce_official_nft/j7kv5ol/

#NFT Pro-Arguments Below is an argument written by Blendzi0r which won 3rd place in the NFT Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > 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? [Click here](/r/CointestOfficial/comments/v2jl5l/general_concepts_nft_proarguments_june_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_NFT) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 10:15:13
/r/CryptoCurrency/comments/10w45fs/double_jumptokyo_inc_to_produce_official_nft/j7kv4yh/

* 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/10w45fs/double_jumptokyo_inc_to_produce_official_nft/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 10:15:05
/r/CryptoCurrency/comments/10w45fs/double_jumptokyo_inc_to_produce_official_nft/j7kv4x8/

NFT {{pros}} & {{cons}} and related info are in the collapsed comments below. Pros and cons will change for every new post. Submit a pro/con argument in the [Cointest](https://www.reddit.com/r/CointestOfficial/wiki/cointest_policy) and potentially win [Moons](https://coinmarketcap.com/currencies/moon/). Moon prizes by award for the General Concepts category are: **1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 1000.** --- To submit an NFT pro-argument, [click here](https://www.reddit.com/r/CointestOfficial/comments/t5mmx5/general_concepts_nft_proarguments_march_2022/). | To submit an NFT con-argument, [click here](https://www.reddit.com/r/CointestOfficial/comments/t5mmxu/general_concepts_nft_conarguments_march_2022/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 10:15:04
/r/CryptoCurrency/comments/10w3qcx/tether_to_burn_2_billion_usdt_due_to_chain_swap/j7kt5eo/

#Tether Con-Arguments Below is an argument written by Far-Scholar9028 which won 3rd place in the Tether Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > **Tether Cons** > > **Dodgy Reserves** > > Initially, Tether asserted that each USDT was backed by a dollar in its reserves. But the truth is more nuanced, Tether is supported by a variety of: > > * Other Investments (Including Digital Tokens): 8.36% > > * Secured Loans(None To Affiliated Entities): 6.77% > > * Corporate Bonds, Funds & Precious Metals: 5.25% > > * Cash & Cash Equivalents & Other Short-Term Deposits & Commercial Paper: 79.62% > > Of the 79% cash and cash equivalents, only 10.25% is held in cash. Also to be emphasized is the lack of an independent audit of the specific breakdown of Tether's reserves. > > **Regulatory Issues** > > The Paradise Papers dump in 2017 revealed that Bitfinex and Tether are both controlled by the same individuals. The Bitfinex trading platform's owners, who also manage the tether virtual currency, have participated in a cover-up to conceal the apparent loss of $850 million dollars, according to the investigation conducted by the New York state Attorney General. Later, Tether's attorney acknowledged that only 74% of the Tether is backed. Tether is forbidden from conducting business in New York under the terms of the settlement agreement. Despite paying a $18 million punishment, Bitfinex and Tether did not confess any wrongdoing. > > **Competitors** > > * USDC: Circle and Coinbase launched USDC in 2018, and it is tied 1:1 to the US dollar. Issuers are also required to back all tokens with fiat reserves and provide monthly proof of reserves in order to guarantee that USDC maintains a continual one-to-one backing. > > * BUSD: BUSD is a stablecoin backed by USD that is 1:1 secure, compliant, and supported by Binance. It was created by Paxos and has NYDFS approval. To preserve the stability and security of the stablecoin, Paxos hires an auditing company to examine its BUSD and US Dollar supply each month. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpuif9/top_coins_tether_conarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10vmhhb/daily_general_discussion_february_7_2023_gmt0/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 10:01:01
/r/CryptoCurrency/comments/10w3qcx/tether_to_burn_2_billion_usdt_due_to_chain_swap/j7kt4qf/

#Tether Pro-Arguments Below is an argument written by CreepToeCurrentSea which won 1st place in the Tether Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > [USDT](https://tether.to/en/transparency/) is a stablecoin (stable-value cryptocurrency) issued by Tether, a Hong Kong-based company. The token is pegged to the USD by keeping reserves of commercial paper, fiduciary deposits, cash, reserve repo notes, and treasury bills equal to the number of USDT in circulation. Initially named as Realcoin, a second-layer cryptocurrency token built on top of Bitcoin's blockchain using the Omni platform, it was later renamed USTether and, finally, USDT. In addition to Bitcoin, USDT was later updated to work on the Ethereum, EOS, Tron, Algorand, and OMG blockchains. > > # PROs > > **USDT is well established** > > It has built a long history of resilience, reliability and trust because it has been around for a [while](https://www.wsj.com/articles/BL-MBB-23780) (around 8 years in the cryptocurrency market). This had helped to convince clients that the stablecoin is [legitimate](https://www.certik.com/projects/tether?utm_source=CMC&utm_campaign=AuditByCertiKLink). > > As of this year, USDT currently is in the top ten cryptocurrencies by [market cap](https://www.coingecko.com/en/coins/tether) with a 24-hour trading volume of around 45 billion dollars and a total number of addresses of up to 4.5 million. In its last known [audit](https://www.fairyproof.com/doc/111.pdf) in 2021 it has been considered to have *"No vulnerabilities with critical, high, medium or low-severity."* > > **Wide acceptance** > > Tether has multiple gateways for customers (retail, exchanges, and companies) because it is built on several leading [blockchains](https://tether.to/en/supported-protocols), including Algorand, Avalanche, Bitcoin Cash's Simple Ledger Protocol (SLP), Ethereum, EOS, Liquid Network, Omni, Polygon, Tezos, Tron, Solana, and Statemine. These transport protocols are made up of open source software that interfaces with blockchains to allow for the issuance and redemption of Tether tokens. > > Furthermore, it has been available on major exchanges such as Bitfinex, Binance, Coinbase, Kraken and [more](https://www.coingecko.com/en/coins/tether#markets), Offering a plethora of pairs for users to choose from or that of which is available in their region although as of lately some exchanges have been switching to Circle's USDC over growing concerns of legal issues related with Tether. > > **Buffer against volatility** > > One of the primary functions of stablecoins is to act as a [hedge](https://www.researchgate.net/publication/341245986_Are_stablecoins_truly_diversifiers_hedges_or_safe_havens_against_traditional_cryptocurrencies_as_their_name_suggests) when crypto markets are in a downturn. Because the aforementioned market is extremely volatile, traders and investors want some sort of buffer against this without having to directly trade their crypto for fiat as to also avoid larger fees as well. Supported by its large market capitalization, USDT should be less volatile and thus safer. > > **Announcement of a full audit** > > Tether's CTO Paolo Ardoino recently stated in an [interview](https://www.euromoney.com/article/2a8dpi4tnxahuu98a251c/fintech/cryptocurrencies-tether-is-open-to-providing-more-information) with Euromoney that the company is preparing for a full audit with an accounting firm called MHA Cayman (which also handles Tether's [quarterly assurance opinions/reports](https://assets.ctfassets.net/vyse88cgwfbl/1np5dpcwuHrWJ4AgUgI3Vn/e0dac722de3cea07766e05c52773748b/Tether_Assurance_Consolidated_Reserves_Report_2022-03-31__3_.pdf)). According to the CTO in the interview, MHA Cayman is one of the "*top 12*" accounting firms, and most top accounting firms deny requests for full audits due to the associated reputational risks. In the future, hopefully, this will provide more security and transparency to its users against the number of allegations and investigations it is currently facing. > > **Despite everything, USDT is still here** > > From the past legal troubles it has faced, the ones it's facing right now, the vast amount of criticisms from different facets off the internet and the several crypto winters it endured. USDT is still alive and kicking. Will it still be the top stablecoin in the next 5 years? Unlikely, but I am for certain it was a major part for the growth and expansion of crypto's fetal years. Moving forward it's up to them, the people behind Tether, if they will finally redeem themselves against all the allegations, criticisms, troubles, and not just do another settlement. > > ^(Sources:) > > [^(https://tether.to/en/faqs/)](https://tether.to/en/faqs/) > > [^(https://tether.to/en/supported-protocols)](https://tether.to/en/supported-protocols) > > [^(https://tether.to/en/transparency/)](https://tether.to/en/transparency/) > > [^(https://tether.to/en/transparency/#reports)](https://tether.to/en/transparency/#reports) > > [^(https://en.wikipedia.org/wiki/Tether\_(cryptocurrency))](https://en.wikipedia.org/wiki/Tether_(cryptocurrency)) > > [^(https://assets.ctfassets.net/vyse88cgwfbl/5UWgHMvz071t2Cq5yTw5vi/c9798ea8db99311bf90ebe0810938b01/TetherWhitePaper.pdf)](https://assets.ctfassets.net/vyse88cgwfbl/5UWgHMvz071t2Cq5yTw5vi/c9798ea8db99311bf90ebe0810938b01/TetherWhitePaper.pdf) > > [^(https://www.wsj.com/articles/BL-MBB-23780)](https://www.wsj.com/articles/BL-MBB-23780) > > [^(https://www.certik.com/projects/tether?utm\_source=CMC&utm\_campaign=AuditByCertiKLink)](https://www.certik.com/projects/tether?utm_source=CMC&utm_campaign=AuditByCertiKLink) > > [^(https://www.coingecko.com/en/coins/tether)](https://www.coingecko.com/en/coins/tether) > > [^(https://www.fairyproof.com/doc/111.pdf)](https://www.fairyproof.com/doc/111.pdf) > > [^(https://www.coingecko.com/en/coins/tether#markets)](https://www.coingecko.com/en/coins/tether#markets) > > [^(https://www.researchgate.net/publication/341245986\_Are\_stablecoins\_truly\_diversifiers\_hedges\_or\_safe\_havens\_against\_traditional\_cryptocurrencies\_as\_their\_name\_suggests)](https://www.researchgate.net/publication/341245986_Are_stablecoins_truly_diversifiers_hedges_or_safe_havens_against_traditional_cryptocurrencies_as_their_name_suggests) > > [^(https://www.researchgate.net/publication/339263534\_What\_is\_Stablecoin\_A\_Survey\_on\_Price\_Stabilization\_Mechanisms\_for\_Decentralized\_Payment\_Systems)](https://www.researchgate.net/publication/339263534_What_is_Stablecoin_A_Survey_on_Price_Stabilization_Mechanisms_for_Decentralized_Payment_Systems) > > [^(https://www.researchgate.net/publication/332458820\_Is\_Cryptocurrency\_a\_Hedge\_or\_a\_Safe\_Haven\_for\_International\_Indices\_A\_Comprehensive\_and\_Dynamic\_Perspective)](https://www.researchgate.net/publication/332458820_Is_Cryptocurrency_a_Hedge_or_a_Safe_Haven_for_International_Indices_A_Comprehensive_and_Dynamic_Perspective) > > [^(https://www.euromoney.com/article/2a8dpi4tnxahuu98a251c/fintech/cryptocurrencies-tether-is-open-to-providing-more-information)](https://www.euromoney.com/article/2a8dpi4tnxahuu98a251c/fintech/cryptocurrencies-tether-is-open-to-providing-more-information) > > [^(https://assets.ctfassets.net/vyse88cgwfbl/1np5dpcwuHrWJ4AgUgI3Vn/e0dac722de3cea07766e05c52773748b/Tether\_Assurance\_Consolidated\_Reserves\_Report\_2022-03-31\_\_3\_.pdf)](https://assets.ctfassets.net/vyse88cgwfbl/1np5dpcwuHrWJ4AgUgI3Vn/e0dac722de3cea07766e05c52773748b/Tether_Assurance_Consolidated_Reserves_Report_2022-03-31__3_.pdf) ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpuiec/top_coins_tether_proarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 10:00:52
/r/CryptoCurrency/comments/10w3qcx/tether_to_burn_2_billion_usdt_due_to_chain_swap/j7kt414/

* Relevant Cointest topics: [USD Coin](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_usd_coin), [XRP](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_ripple), [Stellar](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_stellar), [CBDC](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_cbdc). * Relevant subreddits: r/Tether, r/Coinbase, r/XRP, r/Stellar. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/10w3qcx/tether_to_burn_2_billion_usdt_due_to_chain_swap/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 10:00:44
/r/CryptoCurrency/comments/10w3qcx/tether_to_burn_2_billion_usdt_due_to_chain_swap/j7kt3zy/

Tether {{pros}} & {{cons}} and related info are in the collapsed comments below. Pros and cons will change for every new post.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 10:00:43
/r/CryptoCurrency/comments/10w3s25/former_coinbase_manager_pleads_guilty_to_insider/j7kt3wj/

#USDC Con-Arguments Below is an argument written by madpanda94 which won 3rd place in the USDC Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > My analysis comes from a post from 1 month ago written by me [https://www.reddit.com/r/CryptoCurrency/comments/pkita5/knowyourcrypto\_8\_september\_8\_2021\_usd\_coin\_usdc/](https://www.reddit.com/r/CryptoCurrency/comments/pkita5/knowyourcrypto_8_september_8_2021_usd_coin_usdc/) > > # What is it? > > USD Coin is a stable coin, which is a cryptocurrency that has the same value as a classic currency, in this case the US dollar. It is a similar project, in several ways, to other stable coins. It is also the stable coin managed directly by the Coinbase and Coinbase PRO exchanges, one of the most important exchanges in the world. USD Coin, as it should be more than clear from the name, is pegged to the dollar. What does this mean? It means that the value of a USDC token will always be equal to the value of one dollar. We will always be able to convert (we will see the special cases later) a token of this type into dollars. As we can then see on the main markets that change it, the price can fluctuate very slightly with respect to that of the dollar, generally in the order of thousandths of a percentage. These are very small variations that are mostly dependent on the small inefficiencies that can be created on the market. Perhaps one of the best qualities of USDC is that it is controlled by a consortium, in which partecipate several players in the cryptocurrency industry. It was in fact founded by Circle, and today also hosts the popular Coinbase exchange, and the mining company Bitmain, which is one of the largest investors in Circle. An internal project? No. A project that today has behind it the most serious groups circulating in the world of cryptocurrencies. > > > # How does it work? > > Like all stable coins, USD Coin also has as its main use to act as a counter value on high-frequency exchanges, obviously being tokenized. Therefore, its first use is to act as a counterparty in the negotiations that take place within the main exchanges. Coinbase aims to use it as a means of payment, offering free wallets and above all the possibility for everyone to exchange a crypto with a stable value expressed in dollars without the delays and costs that are instead connected to classic banking. USD Coin is a ERC-20 token, which is a token that is compatible with the Ethereum blockchain. A choice of this type has proved to be a winning one over time because the Ethereum network today offers reliability and allows this stable token, USDC, to be used in many decentralized finance projects. USDC is not mined, that means it is not created by solving very complicated algorithmic calculations. In fact this product is issued on demand. Anyone who buys USDC from Coinbase will have new ones delivered and never released. The doubt in this case is that Coinbase, as well as the other agents involved in the project, can issue more money than they will actually be able to convert one day. This problem can be overcome, provided that the exchange actually has US dollars or equivalent in cash. > > > # Where to store it? > > The best hot wallets for USD Coin are Coinbase Wallet, TrustWallet and Atomic Wallet. If you want more security, a cold storage like Ledger or Trezor is the right choice. > > > # Pros&Cons > > \*DISCLAIMER\* These lists are subjective, it depends from person to person > > **Pros** > > > 1. Solid backers > > 2. Useful > > 3. Future projects > > **Cons** > > 4. High competition ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pz48y3/rcc_cointest_top_10_usd_coin_conarguments_october/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_USD_Coin) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10vmhhb/daily_general_discussion_february_7_2023_gmt0/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 10:00:42
/r/CryptoCurrency/comments/10w3s25/former_coinbase_manager_pleads_guilty_to_insider/j7kt35j/

#USDC Pro-Arguments Below is an argument written by I-play-too-much-PUBG which won 3rd place in the USDC Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > USDC is the best stablecoin and here is why. > > > > > > > 1. USDC is transparent. Nothing is hidden in USDC due to its publicly verifiable attestations. This means it is much harder for criminal activity such as money laundering to occur. > > > > > 2. USDC is safe. USDC is backed by (debatably) the strongest economy in the world unlike some other stablecoins such as BUSD or DAI. USDC is only truly comparable to other US dollar backed coins such as USDT. > > > > > With that argument someone might say that USDT is also backed by the US dollar. With that, I follow with another argument. > > > > > 3. Due to the transparency and security of USDC, there is little to no “fairy money” or creation of cryptocurrency without being backed by anything. This is the strongest reason why USDC is superior to USDT. > > > > > > > 4. Although USDC is backed by the US dollar (centralized) it actually supports defi. USDC is an ERC-20 based token therefore it can be used by any dApp built on the ethereum network. > > > > > > In conclusion, USDT is currently used more and has a higher market cap than USDC, but USDC has stronger infrastructure and is more likely to be used largely in the future due to it being in support of defi. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mln/top_10_usd_coin_proarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_USD_Coin) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 10:00:33
/r/CryptoCurrency/comments/10w3s25/former_coinbase_manager_pleads_guilty_to_insider/j7kt2gl/

USDC {{pros}} & {{cons}} and related info are in the collapsed comments below. Pros and cons will change for every new post.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 10:00:25
/r/CryptoCurrency/comments/10w3s25/former_coinbase_manager_pleads_guilty_to_insider/j7kt2hq/

* Relevant Cointest topics: [USD Coin](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_usd_coin), [XRP](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_ripple), [Stellar](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_stellar), [CBDC](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_cbdc). * Relevant subreddits: r/Coinbase, r/Binance, r/Tether. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/10w3s25/former_coinbase_manager_pleads_guilty_to_insider/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 10:00:25
/r/CryptoCurrency/comments/10w3w2a/ark_invest_details_massive_1480000_bitcoin_price/j7kt2e0/

#Bitcoin Con-Arguments Below is an argument written by Nostalg33k which won 2nd place in the Bitcoin Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > # Bitcoin: A nice idea with the worst implementation possible. > > Having a worldwide permission-less system of financial settlement may seem like a good idea at first glance. "Let's bank the unbanked" and other nice sentences skewed crypto enthusiasts towards Bitcoin but in the end, Bitcoin is already failing and should nothing be done to change some of its internal and external factors, Bitcoin's outlook could change from positive to very negative. Here is my perspective on the future of Bitcoin. > > # Early investors makes the profit > > A permission-less payment system to escape the greediness of the banks... only to be left in the hands of speculators. Right now, Bitcoin is an investment more than a payment system. After all, if you were paid in Bitcoin in 2021, you could have lost more than 2/3 of the value you transferred to your client. > > This is why Bitcoin is problematic as a Permission-less settlement system: You always need to go back to banks and to fiat because fiat is more stable than Bitcoin. > > This situation leads to early investors getting profits and people using Bitcoin as supposed (A payment system) are left licking their wounds. > > # The price of permission less. > > An ethical question arise when discussing a permission less settlement system. Should we have one ? From terrorism to rogue states, our world is still very unstable. Bitcoin is only creating more instability. Allowing countries such as Iran to escape US led sanctions. After all Bitcoin first use case was to fuel the financial ecosystem of a dark web drug market. > > ​ > > # No framework for adoption > > In a lot of countries, being paid in Bitcoin is problematic. From different taxation rules for revenue in Bitcoin to straight up considering all Crypto holdings to be speculative and considering they should be under a flat tax of 30%. This lack of framework may have been a reason for Bitcoin rising to this point but it is now slowing development. > > ​ > > # Conclusion: Bitcoin is both a threat to global stability and under threat because of the lack of oversight. > > Having a permission less settlement system seems like a good thing... between reasonable financial actors. Right now this anarco libertariano capitalist idea may have already gone too far. Allowing cartels and other criminals to be funded through Bitcoin is a bad idea. People using Bitcoin in Venezuela could be seen as a good thing BUT the theory is supposed to be that financial suffering leads to revolution. > > More over the lack of comprehensive rules worldwide when looking at Cryptocurrencies is now slowing adoption. Adoption which could lead to a congested network. > > In the end we may simply be looking at Bitcoin failing its first mission. Becoming slowly a reserve fund for traditional banking and countries instead of offering an alternative to traditional banking. > > This failure shows that Bitcoin has not resolved the problems it set out to resolve and that the experiment should be seen as a failure for everyone except those of us treating Crypto as an investment. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpuiar/top_coins_bitcoin_conarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10vmhhb/daily_general_discussion_february_7_2023_gmt0/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 10:00:24
/r/CryptoCurrency/comments/10w3w2a/ark_invest_details_massive_1480000_bitcoin_price/j7kt1n0/

#Bitcoin Pro-Arguments Below is an argument written by Nostalg33k which won 1st place in the Bitcoin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Writing a Pro argument for Bitcoin in 2022 seems complicated because everything has been said... or did it? > > Edit: I have a small bag of Bitcoin currently valued around 600 bucks. I am also invested in crypto around 2000 bucks which are always moving when Bitcoin is moving. Financial disclosure should be mandatory in these arguments =) > > # Bitcoin is the king of POW: Why it matters and why we need a strong Bitcoin > > So as the title suggests it, the recent news from Ethereum switching from POW to POS makes Bitcoin the sole serious POW cryptocurrency. In this write up, we are going to discuss the three main strength of Bitcoin, security, decentralization, and incentive for green energy production. In this write up we are not going to talk about speculation or the financial side of Bitcoin. Bitcoin is a highly liquid asset and has become nearly universally known as an investment. Many arguments have been made in favor of Bitcoin as an investment and if you want to read one, just go to past cointests. > > ​ > > Of course, the main feature of Bitcoin is the Permissionless aspect. This won't be tackled at all as I think it deserves its own topic. > > ​ > > # 1) Bitcoin: High security > > This topic has also been talked to death: Bitcoin is ultra secure thanks to its Blockchain and the way it is verified through proof of work. To explain this let me quote IBM: > > ​ > > >Public blockchain networks typically allow anyone to join and for participants to remain anonymous. A public blockchain uses internet-connected computers to validate transactions and achieve consensus. Bitcoin is probably the most well-known example of a public blockchain, and it achieves consensus through "bitcoin mining." Computers on the bitcoin network, or “miners,” try to solve a complex cryptographic problem to create proof of work and thereby validate the transaction. Outside of public keys, there are few identity and access controls in this type of network. > > > >[IBM on Blockchain security](https://www.ibm.com/topics/blockchain-security) > > ​ > > Mining is measured in Hashrate. Here is the explanation of Hashrate: > > >Hash rate, sometimes referred to as hashrate, is a measure of the computing power on a cryptocurrency network that serves as a key security indicator. It measures the total computational power used by a “proof-of-work” (POW) cryptocurrency network to process transactions in a blockchain. > > > >[USNEWS explains hashrate](https://money.usnews.com/investing/term/hash-rate#:~:text=Hash%20rate%2C%20sometimes%20referred%20to,process%20transactions%20in%20a%20blockchain) > > ​ > > So if the hashrate measures the security of the network, one may asks themselves: "Did the security of Bitcoin slowed when the price fell ?" > > [The hashrate is at an ATH and growing making Bitcoin more and more secure as it continues to build over time](https://ycharts.com/indicators/bitcoin_network_hash_rate#:~:text=Basic%20Info,101.2%25%20from%20one%20year%20ago) > > ​ > > So Bitcoin has never been as secure as it is today which makes it ultra valuable as a way to settle financial transactions. Yes holding Bitcoin for a long time is risky but using it as a medium to settle international transaction may currently be the securest and one of the best way to do so. > > While Bitcoin is safe... what if a big part fails ? > > ​ > > # 2) Bitcoin mining: Too big to fail. > > ​ > > So this write up could be seen as a POW write up, which it is to an extent. But Bitcoin offers its history and shows that it can survive the disparition of a big part of the network. > > Decentralization allows for parts of the network to disappear and for the rest to take the mantle of securing the network. Yes, mining pools may grow too large for their own sake BUT in the end (nothing even matters) Bitcoin is heavily decentralized. It is so decentralized that, when China (which had a big part of Bitcoin mining) banned mining, Bitcoin just went through like nothing happened. Yes the hashrate fell a bit, the value too, but if we look back, it was nothing extraordinary. > > ​ > > So if Bitcoin is highly secure and if it can survive part of the hashrate going bye bye, what makes it so good? What is the difference with any POW Cryptocurrency right now? > > ​ > > # 3) Bitcoin: propping up the green energy sector. > > ​ > > POW uses energy. One of the biggest concern about POW is the energy. While Ethereum was using GPUs and was asic resistant. Bitcoin mining is built differently. A long time ago, under oath, people discussed the environmental impact of Bitcoin Mining and I made a post explaining what was said: > > ​ > > >The Energy Fud Was Killed > > The most important thing that happened: The narrative that Bitcoin is too energy intensive was totally reversed. > > Experts of the sector explained that, Wind Farms and Solar Farms, have a variable load. This variable load means that sometimes they lose money because they produce too much and there is not enough demand. Bitcoin mining provides a variable base load for these projects. What it means is that, mining can be turned on and off depending on demand. It was revealed that most of these wind and solar farms would simply not exist without Bitcoin Farming as baseline customers. > > There are still miners that are using coal plants and fossil fuel but the leaders of the industry are developing in tandem with the green energy sector. > > >[My post](https://www.reddit.com/r/CryptoCurrency/comments/s99phv/yesterday_one_of_the_most_bullish_events_ever/) > > ​ > > # Conclusion: Bitcoin is the flagship of POW and it is a feature not a bug. > > Bitcoin, thanks to its value and tokenomics is seen as a good investment, this is also why miners commit huge amount of ressources to take the hashrate to new heights. These miners help the US grid to become more and more resilient. The future of Crypto and of green energy relies a lot on Bitcoin. Bitcoin has proven time and time again that it can shoulder these changes. Bitcoin is a good piece of technology and I hope people continue to invest in it because it is doing a lot of good for our future ! ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpui9i/top_coins_bitcoin_proarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 10:00:15
/r/CryptoCurrency/comments/10w3w2a/ark_invest_details_massive_1480000_bitcoin_price/j7kt0rf/

Bitcoin {{pros}} & {{cons}} and related info are in the collapsed comments below. Pros and cons will change for every new post.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 10:00:05
/r/CryptoCurrency/comments/10w3w2a/ark_invest_details_massive_1480000_bitcoin_price/j7kt0so/

* Relevant Cointest topics: [Bitcoin Cash](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_bitcoin_cash), [Litecoin](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_litecoin), [Lightning Network](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_lightning_network), [Proof of Work](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_proof-of-work) * Official and related subreddits: r/Bitcoin, r/BitcoinMarkets, r/BitcoinMining, r/BTC, r/BitcoinCash. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/10w3w2a/ark_invest_details_massive_1480000_bitcoin_price/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 10:00:05
/r/CryptoMarkets/comments/10w39sd/usdm_the_fiatbacked_tokenized_dollar_on_cardano/j7kr1oq/

#Cardano Con-Arguments Below is an argument written by cryotosensei which won 2nd place in the Cardano Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > > > 1. Cardano suffers from a poor image, in that people regard it as slow. It now comprises smart contract capabilities - but not before the several Hard Fork Combinator (HFC) events took place. Just this week, it was announced that the Vasil hard fork that was expected to be rolled out in June has been postponed to the last week of July 2022. While it’s commendable that the developers wish to ensure full synchronisation across the entire Cardano ecosystem, Cardano is no ETH after all. So, most investors who are used to the speed and nimbleness of other blockchains are hardly likely to stay around and wait for ADA to realise its potential. > 2. Cardano is built for DApps, but its decentralised apps ecosystem can hardly be considered to be thriving. DefiLlama reports that there are only 11 DeFi protocols running on the ADA network with a combined total volume locked of approximately $103.68 million (https://defillama.com/chain/Cardano?currency=USD) > 3. Another factor that hampers Cardano’s development is that developers need to learn Haskell before they can program smart contracts on Cardano. Should they wish to create DApps, they will need to build up on their knowledge of Haskell and learn to code in Plutus. These programming languages are considered to be more advanced than Plython and Solidity, so it is harder for Cardano developer teams to find tech personnel with the relevant experience and expertise. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/tuwvvo/top_coins_cardano_conarguments_april_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Cardano_(blockchain_platform\)) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10vmhhb/daily_general_discussion_february_7_2023_gmt0/).

Commented by /u/CointestMod in /r/CryptoMarkets on February 7, 2023 09:45:43
/r/CryptoMarkets/comments/10w39sd/usdm_the_fiatbacked_tokenized_dollar_on_cardano/j7kr0z1/

#Cardano Pro-Arguments Below is an argument written by Maleficent_Plankton which won 1st place in the Cardano Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > ##Cardano Pros > > It has been almost a year since the Alonzo (smart contract) release, which revealed that it's difficult to build a DEX for eUXTO transactions instead of account transactions. Even after the release of SundaeSwap and MinSwap, we've seen issues for DEX development related to slow smart contract transaction speeds. Cardano is currently releasing a much-needed Vasil update to help with smart contracts by increasing throughput and reducing transaction fees. **Overall, Cardano's design is much better than Bitcoin's, but that isn't saying much since nearly every new crypto network is much better than Bitcoin in terms of efficiency and scalability.** > > ###General > > * Despite being a Nakamoto-consensus network, Cardano uses a Proof of Stake protocol (Ouroboros) that uses much less energy than Proof of Work crypto networks. > * Cardano Transactions fees are currently about $0.15 - 0.50 USD as of [Jun 2022](https://messari.io/asset/cardano/chart/txn-fee-avg), and it's been around this range for a year now. They are cheaper than BTC transaction fees of [$1-4 USD](https://bitinfocharts.com/comparison/bitcoin-transactionfees.html#1y) and much cheaper than basic Ethereum transaction fees of $2-15 USD (depending on whether it's native Ethereum or ERC-20). > > ###Security > > * Cardano's Ouroboros is a bit different than most Proof of Stake blockchains in that it uses Nakamoto consensus instead of Byzantine Fault Tolerance (BFT), so it's more similar to Bitcoin than the Ethereum PoS beacon chain in that aspect. As of Feb 2021, the Minimum Attack Vector (MAV) for Cardano currently requires collusion between 29 different staking pools. In terms of this metric, that's way more secure than Bitcoin, which requires collusion between 5-7 mining pools. (Of course, that's assuming these pools are not secretly run by the same entities.). For all practical purposes, both of these networks have high security and are unlikely to be successfully attacked. > > ###Staking > > * Its Yoroi hot wallet is super easy to use and has DPoS staking built-in. I find its design much more intuitive to use than Metamask for Ethereum. Staking is [non-custodial](https://staking.staked.us/cardano-staking), so stakers don't have to worry about handing over their coins to a centralized platform like with ETH 2.0. They can also add and remove their coins within a couple of days without a long minimum withdrawal period. Governance is also directly given to stakers instead of pools, leading to higher decentralization. > * US Chair of the SEC, Gary Gensler, said [in Sept 2021](https://www.washingtonpost.com/washington-post-live/2021/09/21/transcript-path-forward-cryptocurrency-with-gary-gensler/) that he may go after staking platforms. This could limit centralized ETH 2.0 staking but not decentralized DPoS systems like Cardano's staking. > * There is no punishing slashing on staking, so it's safer for risk-adverse stakers. Instead, bad nodes receive reduced rewards (the downside is that there are more bad staking pools). Also, staking reward decreases when the pool size increases, so there is an incentive to join smaller pools, leading to more decentralization despite the DPoS model. > > ###Smart Contracts > > * The Smart Contract in Alonzo (Plutus) [is deterministic](https://iohk.io/en/blog/posts/2021/09/06/no-surprises-transaction-validation-on-cardano/) in the sense that its fees are known ahead of time unlike in Ethereum. > * Plutus smart contract can also be simulated ahead of time, giving better estimates than Solidity. You'll know whether it'll succeed or fail before making the transaction. It is also easier to check for security flaws. > * Cardano supports [native tokens](https://developers.cardano.org/docs/native-tokens/) without the need for smart contracts. This avoids the high $20+ gas fees when transferring or swapping ERC-20 token. > * Swaps generally take anywhere between 30 seconds to a couple of minutes, which is lot faster than most Ethereum swaps, which can take an hour. (People still complain about congestion though.) > * Cardano's eUXTO model is resistant against MEV like front-running and sandwich attacks. > > ###Can do Batch Transactions > > * Cardano uses eUXTO transactions, so it's easy to batch [Multi-to-multi transfers](https://adapools.org/transactions/e586c6340ee9e60a6c64f447feffe5f89bdabc7741666ecaa681081957938f56) and [bundled transactions](https://adapools.org/transactions/8391e6df99d8c08a316f88461a7858ecd3173a69f916a03a47fa10420f5bedbd) with dozens of inputs and outputs. The fee for each of these was under one USD. In comparison, [here's a transaction](https://etherscan.io/tx/0x0fe2542079644e107cbf13690eb9c2c65963ccb79089ff96bfaf8dced2331c92) on the Ethereum blockchain with similar numbers of inputs and outputs that's currently $5500 in USD in fees (though it was a whopping $23k at the time of transaction). ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/tuwvst/top_coins_cardano_proarguments_april_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Cardano_(blockchain_platform\)) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoMarkets on February 7, 2023 09:45:34
/r/CryptoMarkets/comments/10w39sd/usdm_the_fiatbacked_tokenized_dollar_on_cardano/j7kr0as/

Cardano {{pros}} & {{cons}} and related info are in the collapsed comments below. Pros and cons will change for every new post. Submit a pro/con argument in the [Cointest](https://www.reddit.com/r/CointestOfficial/wiki/cointest_policy) and potentially win [Moons](https://coinmarketcap.com/currencies/moon/). Moon prizes by award for the Top Coins category are: **1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 1000.** --- To submit an ADA pro-argument, [click here](https://old.reddit.com/r/CointestOfficial/comments/tuwvst/top_coins_cardano_proarguments_april_2022/). | To submit an ADA con-argument, [click here](https://old.reddit.com/r/CointestOfficial/comments/tuwvvo/top_coins_cardano_conarguments_april_2022/).

Commented by /u/CointestMod in /r/CryptoMarkets on February 7, 2023 09:45:26
/r/CryptoMarkets/comments/10w39sd/usdm_the_fiatbacked_tokenized_dollar_on_cardano/j7kr0bm/

* Relevant Cointest topics: [Ethereum](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_ethereum), [Cosmos](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_cosmos), [Algorand](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_algorand), [Polkadot](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_polkadot), [Proof of Stake](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_proof-of-stake) * Official and related subreddits: r/Cardano, r/Ethereum, r/CosmosNetwork, r/Polkadot, r/Algorand. * Sort comments as controversial first by [clicking here](/r/CryptoMarkets/comments/10w39sd/usdm_the_fiatbacked_tokenized_dollar_on_cardano/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoMarkets on February 7, 2023 09:45:26
/r/CryptoCurrency/comments/10w38vk/usdm_the_fiatbacked_tokenized_dollar_on_cardano/j7kqzzu/

#Cardano Con-Arguments Below is an argument written by cryotosensei which won 2nd place in the Cardano Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > > > 1. Cardano suffers from a poor image, in that people regard it as slow. It now comprises smart contract capabilities - but not before the several Hard Fork Combinator (HFC) events took place. Just this week, it was announced that the Vasil hard fork that was expected to be rolled out in June has been postponed to the last week of July 2022. While it’s commendable that the developers wish to ensure full synchronisation across the entire Cardano ecosystem, Cardano is no ETH after all. So, most investors who are used to the speed and nimbleness of other blockchains are hardly likely to stay around and wait for ADA to realise its potential. > 2. Cardano is built for DApps, but its decentralised apps ecosystem can hardly be considered to be thriving. DefiLlama reports that there are only 11 DeFi protocols running on the ADA network with a combined total volume locked of approximately $103.68 million (https://defillama.com/chain/Cardano?currency=USD) > 3. Another factor that hampers Cardano’s development is that developers need to learn Haskell before they can program smart contracts on Cardano. Should they wish to create DApps, they will need to build up on their knowledge of Haskell and learn to code in Plutus. These programming languages are considered to be more advanced than Plython and Solidity, so it is harder for Cardano developer teams to find tech personnel with the relevant experience and expertise. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/tuwvvo/top_coins_cardano_conarguments_april_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Cardano_(blockchain_platform\)) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10vmhhb/daily_general_discussion_february_7_2023_gmt0/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 09:45:22
/r/CryptoCurrency/comments/10w38vk/usdm_the_fiatbacked_tokenized_dollar_on_cardano/j7kqz93/

#Cardano Pro-Arguments Below is an argument written by DMugre which won 3rd place in the Cardano Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > The overall pro-argument about Cardano relies on Ethereum's delay to provide a definitive scaling solution to mitigate it's prohibitive barrier-to-entry gas prices and network congestion. > > Cardano has shown to provide a robust and easy to adapt L1 with a green PoS consensus, and since the release of it's Smart Contract capabilities we've seen more and more DApps being developed, forming the barebones of any DeFi ecosystem. Upon review of these DApps, their perceived quality is on par if not more polished that something we'd see on other largely available L1 solutions, all while still in beta states. > > Of course, not everything is fun & games, the network has a serious congestion problem going on, and triying to use it might end up feeling clunky at times, which might lead some people to believe it really offers nothing when compared to Ethereum, until you factor in that Cardano's smart contract feature was released **barely 7 months ago**, versus ETH's *8 years* of advantage. > One could make the case that if Cardano is able to match/approach ETH's throughput while maintaining small fees in so little time when compared to the OG smart contract network, It no doubt has a bright future ahead. It has beat it already when it means to reaching functional PoS consensus, something ETH has failed to achieve while professing it's about to happen for at least 5 years already. > > The soil is fertile and well kept, providing a strong foundation for future smart contract implementation, increased throughput through Hydra scaling, sharding, subnets, and it's scalability doesn't rely on soft/hard forking either, it can all be achieved from the L1 itself without introducing L2's which all in all might still become a thing in the future, taking the network to a new paradigm of blazing fast, uncostly transactions. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/tuwvst/top_coins_cardano_proarguments_april_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Cardano_(blockchain_platform\)) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 09:45:13
/r/CryptoCurrency/comments/10w38vk/usdm_the_fiatbacked_tokenized_dollar_on_cardano/j7kqykz/

* Relevant Cointest topics: [Ethereum](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_ethereum), [Cosmos](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_cosmos), [Algorand](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_algorand), [Polkadot](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_polkadot), [Proof of Stake](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_proof-of-stake) * Official and related subreddits: r/Cardano, r/Ethereum, r/CosmosNetwork, r/Polkadot, r/Algorand. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/10w38vk/usdm_the_fiatbacked_tokenized_dollar_on_cardano/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 09:45:05
/r/CryptoCurrency/comments/10w38vk/usdm_the_fiatbacked_tokenized_dollar_on_cardano/j7kqyk6/

Cardano {{pros}} & {{cons}} and related info are in the collapsed comments below. Pros and cons will change for every new post. Submit a pro/con argument in the [Cointest](https://www.reddit.com/r/CointestOfficial/wiki/cointest_policy) and potentially win [Moons](https://coinmarketcap.com/currencies/moon/). Moon prizes by award for the Top Coins category are: **1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 1000.** --- To submit an ADA pro-argument, [click here](https://old.reddit.com/r/CointestOfficial/comments/tuwvst/top_coins_cardano_proarguments_april_2022/). | To submit an ADA con-argument, [click here](https://old.reddit.com/r/CointestOfficial/comments/tuwvvo/top_coins_cardano_conarguments_april_2022/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 09:45:05
/r/CryptoCurrency/comments/10w2zr8/biden_administration_acknowledges_it_can_force/j7koymy/

#Bitcoin Pro-Arguments Below is an argument written by Maleficent_Plankton which won 2nd place in the Bitcoin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > ##**Main PROs** > > Bitcoin is currently the most popular cryptocurrency and marketcap leader. Among all the cryptocurrencies, it's the one your grandma would most likely have heard of. This is mainly due to its first-mover advantage coupled with the network effect. And since cryptocurrency value is largely based on a Keynesian Beauty Contest, it's likely to remain the most popular for years to come. > > **First-Mover Advantage**: This gave Bitcoin a huge head start over its competitors despite that it's technologically behind. If Bitcoin, Bitcoin Cash, and Litecoin were all released simultaneously, Bitcoin would lose to its competitors because its competitors have much more efficient designs with higher throughput. There are many newer networks that have 10-100x Bitcoin's throughput and have 100x cheaper fees. But the reality is that Bitcoin's first-mover advantage gave it such a huge head start that the others can't catch up. > > **The Network Effect**: This means that people will flock to whichever product has the largest user base. Whenever people first invest in cryptocurrency, they notice Bitcoin first because it's the largest and most popular. For half a decade, its name was almost synonymous with cryptocurrency. The network effect creates a positive feedback loop and makes Bitcoin's lead grow even more. Its block subsidy is also the highest, which attracts miners, thus increasing its security. > > **Anti-censorship**: Bitcoin provides partial financial 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. For example, many Russians, Iranian, and North Koreans are getting around sanctions by using Bitcoin and mixers. Legal sex workers and marijuana industries are sometimes blocked from using traditional financial services due to social stigma. Bitcoin provides those workers a way to transfer funds that censorship. > > **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. > > **Cannot be counterfeited**: Cash can be counterfeited, but you can't fake transactions or UTXOs. > > **Considered a commodity**: Bitcoin is the only cryptocurrency that both the SEC and CFTC have openly stated is likely a commodity, so it has a low chance of being subjected to future securities regulations. > > ##**The Bitcoin Narratives and the Knowledge Gap** > > There are so many Bitcoin Maxis who will ignore logic and keep spreading Pro-Bitcoin Narratives of questionable 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. Those who aren't technical will believe them without digging deeper. (Sadly, I may have spread a couple of these myself not that long ago.) Thus, Bitcoin tends to cult-ivate a community of block-headed maximalists who are willing to shill and meme Bitcoin all day long. > > **Here's a list of popular but questionable Bitcoin Narratives.** Regardless of whether these are accurate, they will keep spreading and contributing to Bitcoin's popularity and network effect. > > * **Maximum Supply cap guarantees scarcity and that price will keep increasing**: Bitcoin has a supply cap of 2.1 Million Bitcoins, so it's deflationary and will keep going up in price. > * **Reality**: Bitcoin is actually inflationary, albeit disinflationary, until 2140. Scarcity is questionable because it can always fork, and there are competing blockchains. There is no guarantee that price will keep going up. The maximum supply cap is also a double-edged sword since mining rewards aren't guaranteed, and Bitcoin's security will likely decline greatly decades from now. > * **Bitcoin is an Inflation Hedge** > * **Reality**: When inflation rose in 2022, Bitcoin plunged in price, proving that it's not a good inflation hedge. Instead, it tends to go up and down with the stock market, but with higher volatility. > * **Bitcoin is a great Store of Value (i.e. Digital gold)** > * **Reality**: Bitcoin's price is too volatile to make it a good Store of Value. > * **All altcoins are shitcoins**: Altcoins will never beat Bitcoin and always fail. Bitcoin has survived multiple hard forks, bug fixes, country-wide bans, and 80-90% value crashes ... unlike most altcoins. > * **Reality**: Altcoins fall harder during bear markets, but they also rise more during bull markets. The better ones also have better protocol designs than Bitcoin. Eventually, one of them could even dethrone Bitcoin. > * **UTXO batch transactions**: Bitcoin can natively batch UTXO transactions to increase to effective throughput beyond TPS. > * **Reality**: While it's true that batch transactions increase effective transfers, they only do so by a maximum of 70%, increasing effective throughput from 3 transfers/s to 5 transfers/s. There is a 40% savings in storage space, and 75% savings in fees [[Source](https://blog.coinbase.com/reflections-on-bitcoin-transaction-batching-b13dad12a12)]. Also note that account-based smart contracts can save similar amounts of storage and fees, so this isn't unique to Bitcoin. > * **The Lightning Network can scale Bitcoin to the global population**: The Lightning Network can greatly scale Bitcoin and enable fast peer-to-peer transactions. > * **But**: It can't scale well past 1% of the global population since users are expected to open and close channel regularly. And if 10% of the global population uses the Lightning Network, they can only open and close channels once every 8 years on average due to congestion on Layer 1. The only way to get around this is if everyone only interacts on centralized exchanges without touching the network itself. > * **Decentralization**: Bitcoin is the most decentralized cryptocurrency because it has the highest Nakamoto Coefficient when measured by individual miners. > * **Reality**: The top 3 mining pools own 60% of the network hash rate, and the true coefficient is just 3. > * **Fair launch**: Bitcoin had a fair launch. First the first couple of years, anyone had to work for their Bitcoins. There was no ICO. > * **But**: There were only ~100 miners the first several years, and that they mined out the vast majority of all Bitcoins and got a huge advantage over everyone else. > > If these are flawed arguments, why am I even listing them as Pros? **To show that even if these narratives are questionable, there are so many of them, and they will keep spreading.** For each person who realizes their flaws, two more newbies who don't bother with research will gobble them up. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpui9i/top_coins_bitcoin_proarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 09:30:17
/r/CryptoCurrency/comments/10w2zr8/biden_administration_acknowledges_it_can_force/j7koxuw/

* Relevant Cointest topics: [Bitcoin Cash](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_bitcoin_cash), [Litecoin](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_litecoin), [Lightning Network](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_lightning_network), [Proof of Work](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_proof-of-work) * Official and related subreddits: r/Bitcoin, r/BitcoinMarkets, r/BitcoinMining, r/BTC, r/BitcoinCash. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/10w2zr8/biden_administration_acknowledges_it_can_force/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 09:30:07
/r/CryptoCurrency/comments/10w2zr8/biden_administration_acknowledges_it_can_force/j7koxsd/

Bitcoin [pros](/r/CryptoCurrency/comments/10w2zr8/biden_administration_acknowledges_it_can_force/j7koymy/) & [cons](/r/CryptoCurrency/comments/10w2zr8/biden_administration_acknowledges_it_can_force/j7kozen/) and related info are in the collapsed comments below. Pros and cons will change for every new post.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 09:30:06
/r/CryptoCurrency/comments/10w2p5c/ethereum_upgrade_could_make_it_harder_to_lose_all/j7kmz3w/

#Ethereum Con-Arguments Below is an argument written by Maleficent_Plankton which won 1st place in the Ethereum Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Ethereum has drastically changed in the past year now that it has rebranded itself as **Consensus/Settlement layer** for other Layer 2 Execution/Rollup networks. It is no longer trying to be a monolithic blockchain by itself. Because of this shift in design, many of its former CONs are no longer major issues. And many of the CONs that still exist often have a beneficial sides. > > I discuss the CONs of Ethereum and their impact on its users here: > > ## CONs > > **Gas Fees** (major): > > The biggest complaint for Ethereum is its network gas fees. Every transaction needs gas to pay for storage and processing power, and gas prices vary based on demand. Gas price is very volatile and often changes 2-5x in magnitude within the same day. ERC20 transfers are used for a large percentage of cryptocurrencies, and it's the reason much of DeFi is extremely expensive. If I wanted to send ERC20 tokens between exchanges, it's often cheaper to trade for XRP, ALGO, or some other microtransaction coin, transfer it using their other coin's native network, and then trade back into the original token. Basically: use a coin on a different network to avoid fees. > > Typical transaction fees for Ethereum were [between $2-10 over the past year](https://etherscan.io/chart/avg-txfee-usd), but they have shot up to $50+ several times in 2021. > > And that's just for basic transactions. Anyone who has tried to use more complex smart contracts like moving MATIC from Polygon mainnet back to ETH L1 mainnet during a time of high gas fees mid-year in 2021 saw $100-$200 gas fees. Transferring ERC-20 tokens (often $20-50) is also more gas expensive because it can't be done through native transfers like on the Cardano network. It's impractical to use swaps like Uniswap for small transactions due to these fees. > > In particular, One/Many-to-many batch transactions are extremely gas-expensive using Ethereum's account-based model compared to Bitcoin's and Cardano's UXTO-based model. [This batch transaction on Ethereum](https://etherscan.io/tx/0x0fe2542079644e107cbf13690eb9c2c65963ccb79089ff96bfaf8dced2331c92) cost over $5000 while [a similar eUXTO transaction on Cardano](https://adapools.org/transactions/e586c6340ee9e60a6c64f447feffe5f89bdabc7741666ecaa681081957938f56) only cost $0.50 in fees. > > On the other hand, these fees provide Ethereum long-term economic sustainability and resilience against DDoS and spam attacks. > > **Competition from other Smart Contract networks** (moderate): > > Ethereum has enjoyed its lead as the smart contract blockchain due to first-mover advantage. But there are now many efficient smart contract competitors like Algorand, Solana, and Cardano. Ethereum is now facing much competition. Who wants to pay $20 gas fees on Ethereum when you can get similar transactions for under $0.01 with Algo and Solana or $0.30 transactions with Cardano? > > Fortunately, the amount of competition is limited because Ethereum is positioning itself as a Settlement layer whereas these other networks are monolithic networks. All monolithic networks will eventually run into scaling issues due to long-term storage and bandwidth limits. It will really depend on how successful Ethereum's Layer 2 rollup solutions will be. > > **Future uncertainty about Layer 2 solutions** (major): > > Ethereum's long-term success is dependent on the success of its Layer 2 solutions. > > These Layer 2 solutions are still extremely early. Even after a year, L2 has a very fragmented adoption. The majority of centralized exchanges currently do not support Layer 2 rollup networks. A few have started to support Polygon, which is more of a Layer 2 side-chain that saves state every 256 blocks than a Layer 2 rollup. Very few CEXs allow for direct fiat on/off-ramping on L2 networks, which puts those networks out of reach of most users. > > Many of these Layer 2 networks (Arbitrum, Optimism, Loopring, ZKSync, etc), are not interoperable with each other. You can store your tokens on any specific L2 network, but they're stuck there. If you want to move your tokens back to Layer 1 or to another L2 network, you have to pay very expensive smart contract gas fees ($50-300). Eventually, there will be bridges between these networks, but we could be years away from widespread adoption. > > Fragmented liquidity is another huge issue. Each of these L2 networks has its own liquidity pool for each token it supports. You can store your token on the the L2 network, but you won't be able to trade or swap much if there are no liquidity pools for that token. Eventually, there will be Dynamic Automated Market Makers (dAMMs) that can share liquidity between networks, but they are complex and introduce their own weaknesses. > > Both Optimistic and ZK Rollups are handled off-chain and require a separate network nodes or smart contracts as infrastructure to validate transactions or generate ZK Proofs. They are very centralized in how they operate, so there's always the risk that their network operators could cheat their customers. By now, the community seems to agree that ZK rollups are the future rollup solution to decentralized L2 networks. There is only 1 notable instance of Plasma (Ethereum to Polygon network conversion), and no one uses it anymore since the Ethereum-Polygon bridge is easier to use. The biggest competitor to ZK rollups are Optimistic rollups, and those take too long to settle back to Layer 1 (1 week) and are still too expensive to use (20-50% of the cost of L1 Ethereum gas fees for transfers). > > **ZK Rollups** require special infrastructure to generate ZK Proofs. These are very computationally-expensive, potentially [thousands of times](https://vitalik.ca/general/2021/01/05/rollup.html) more expensive that just doing the computation directly. To reduce the cost, they are done completely-centralized by specialized servers. Thus the cost of a ZK Rollup is cheap at about [$0.10 to $.30](https://l2fees.info/). But even at $0.10 per transfer and $0.50 per swap, these are still at least 10x more expensive than costs on Algorand and Solana. Users will have to decide whether the extra cost and hassle of using an L2 platform is worth the extra security of settling on the more-decentralized and secure Ethereum L1 network. > > **Ethereum Proof-of-Stake merge is arriving later than competitors** (moderate): > > The ETH PoS Beacon chain has been released, it's a completely separate blockchain from ETH and won't merge with the main blockchain [until later this year](https://decrypt.co/78690/ethereum-2-staking-tops-21-billion-merge-horizon), giving its competitors plenty of time to provide FUD. We still don't know how successful the merge will be. Currently, stakes are locked, preventing investors from selling. We don't know what will happen to the price once staking unlocks. > > **MEV and Dark Forest attacks** (minor): > > [MEV](https://np.reddit.com/r/MPlankton/comments/rs4wp2/the_dark_forest_of_cryptocurrency/) is actually a pretty big issue for networks with high gas arbitrage and mempools like Ethereum, but most casual users will never notice hostile arbitrage. When you broadcast your transaction to the network, there are armies of bots and automated miners that analyze your transaction to see if they can perform arbitrage strategies on your transaction such as front-running, sandwiching, excluding transactions, stealing/replaying transactions, and other pure-profit plays. "Dark Forest" attacks have reveled that bots are constantly monitoring the network, and they can front-run you unless you have your own private army of miners. > > **Final Word** > > Overall, I still think the PROs outweigh the CONs for Ethereum in the long-run due to its first-mover advantage and the long-term sustainability of the Ethereum network. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2luf/top_10_ethereum_conarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10vmhhb/daily_general_discussion_february_7_2023_gmt0/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 09:15:23
/r/CryptoCurrency/comments/10w2p5c/ethereum_upgrade_could_make_it_harder_to_lose_all/j7kmyfj/

#Ethereum Pro-Arguments Below is an argument written by Maleficent_Plankton which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > # Background > > Ethereum is a **multi-layer smart contract ecosystem** that is currently migrating from Proof of Work to Proof of Stake: > > * Layer 1 - Consensus/Settlement layer > * Layer 2 - Execution/Rollup layer > > ## PROs > > **First-mover advantage** (major): > > Like Bitcoin, Ethereum enjoys a first-mover advantage. Being around longer than all other smart contract networks gives Ethereum a massive advantage in adoption, which leads to greater decentralization, security, liquidity pools, and app development. Because of the first-mover advantage, Ethereum easily trounces its competitors in security and popularity, and those competitors have little chance of catching up even though their virtual machines are more efficient than EVM. > > **Resilient to spam and Denial-of-Service attacks** (moderate): > > Due to high gas fees on the Ethereum network, it is extremely resistant to DDoS attacks and spam attacks. Ethereum is battle-tested and hasn't sufferred a major DDoS attack since 2016. > > Some of its competitors are still dealing with DDoS attacks. Every time the Solana network goes down from DDoS attacks, which have happened at least 6 times in the past year, there are huge complaints from the crypto community. You need a large amount of memory and bandwidth to keep up with fast networks like Solana. Similarly, Polygon suffered an unintentional DDoS attack from [Sunflower Farmers game](https://www.coindesk.com/tech/2022/01/06/polygon-under-accidental-attack-from-swarm-of-sunflower-farmers/) in Jan 6. For several days, bots ground the network to a halt. > > **Proof of Stake resistant to 51% attacks** (minor): > > * 51% attack (for PoS and PoW) can only revert or censor transactions. [It cannot be used to steal accounts.](https://thedefiant.io/vitalik-eth-cross-chain-bridges-security/). Every transaction has to result in a consistent state. > * With the exception of client bugs that can have unexpected and widespread effects, deterministic PoS networks are very resistant to reorg attacks since they can be immediately detected when a double-spend happens. Bad nodes will be immediately slashed and that double-spend will never go through. > > **Long-term scalability as a settlement layer** (major): > > Ethereum has long-term scalability through Layer 2 rollups. It can offload all its data bloat and computations off-chain. > > Many monolithic blockchains are fine for now, but they eventually all suffer from massive data bloat on their blockchains unless they also offload to Layer 2 solutions. When this happens, they will be playing catch-up with Ethereum. > > **Economic sustainability** (major): > > * Ethereum PoS is one of the ONLY networks that's expected to be deflationary due to its extremely-high fees. Ethereum PoW's amount of inflation is [now offset 35%](https://watchtheburn.com/) in Jun 2022 by the amount burned per transaction from EIP-1559. After the merge, the issuance is expected to drop 80%, making Ethereum PoS the first popular blockchain that will have **supply deflation** and become a positive-sum investment. > * In contrast, many other blockchains have enjoyed lower transaction fees by subsidizing network costs through charging investors with inflation. > * **Polygon PoS** distributes $400M in inflationary rewards annually but only collects $18M in fees. > * **Solana** collects only $40M in fees but gives away 100x that much ($4B) in rewards [[Source](https://polynya.medium.com/why-rollups-data-shards-are-the-only-sustainable-solution-for-high-scalability-c9aabd6fbb48)]. > * **Cardano** rewards stakers from a diminishing rewards pool that is on schedule to drop 90% in 5 years. > * **Bitcoin** pays miners with block subsidies (set to diminish by 99% in 30 years) that are 50-100x bigger than its transaction fees. When their subsidies disappear, unless they have major governance changes, these networks are either going to see much higher fees, or their security is going to decrease drastically. > * **Avalanche** has 10% inflation, and the [burn rate](https://burnedavax.com/) is 100x smaller than the issuance rate. > * **Algorand** pays from a staking reward pool [that disappears in 2030](https://algorand.foundation/governance/algo-dynamics). Its low transaction fees don't cover the cost of paying for validators and relay nodes. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/tuwvz5/top_coins_ethereum_proarguments_april_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 09:15:14
/r/CryptoCurrency/comments/10w2p5c/ethereum_upgrade_could_make_it_harder_to_lose_all/j7kmxqm/

* Relevant Cointest topics: [Cardano](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_cardano), [Algorand](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_algorand), [Solana](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_solana), [Polkadot](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_polkadot), [Cosmos](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_cosmos), [Proof of Stake](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_proof-of-stake). * Official and related subreddits: r/Ethereum, r/EthTrader, r/EthStaker, r/Cardano, r/Algorand, r/Solana, r/CosmosNetwork, r/Polkadot, r/Tezos. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/10w2p5c/ethereum_upgrade_could_make_it_harder_to_lose_all/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 09:15:05
/r/CryptoCurrency/comments/10w2p5c/ethereum_upgrade_could_make_it_harder_to_lose_all/j7kmxp9/

Ethereum {{pros}} & {{cons}} and related info are in the collapsed comments below. Pros and cons will change for every new post. Submit a pro/con argument in the [Cointest](https://www.reddit.com/r/CointestOfficial/wiki/cointest_policy) and potentially win [Moons](https://coinmarketcap.com/currencies/moon/). Moon prizes by award for the Top Coins category are: **1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 1000.** --- To submit an ETH pro-argument, [click here](https://old.reddit.com/r/CointestOfficial/comments/tuwvz5/top_coins_ethereum_proarguments_april_2022/). | To submit an ETH con-argument, [click here](https://old.reddit.com/r/CointestOfficial/comments/tuww2u/top_coins_ethereum_conarguments_april_2022/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 09:15:05
/r/CryptoCurrency/comments/10w2if8/algorand_foundation_announces_broadreaching/j7kl27x/

#Algorand Con-Arguments Below is an argument written by mic_droo which won 1st place in the Algorand Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Disclaimer: I do hold some ALGO and think it’s a good coin. At the same time, I think it is a bit overhyped, especially in this community, and people pretend there is absolutely nothing negative about it while it of course has negative sides to it as well, like any coin. Here are a few of them: > > * ALGO somewhat has a leadership cult. Its founder, Silvio Micali – and don’t get me wrong, that guy seems to be very, very good at what he is doing – is hailed as a god in the community. While he fortunately is not as present and outspoken about everything as other leaders like Vitalik Buterin, Gavin Wood or especially Charles Hoskinson, the ALGO community worships him just as much and likes to say stuff like “I am sure we will succeed because we have Silvio”. Similar to other top-heavy coins this is somewhat problematic, as ALGO would probably lose a lot of support if he decides to retire or if something happens to him > > * There are [very few DApps]( https://developer.algorand.org/ecosystem-projects/?tags=dapps) on Algorand. This is a bit weird, as younger and much smaller chains have a lot more going on in this area. I also rarely hear anyone talk about any of them (except back when the biggest one, Tinyman, was hacked) > > * Algorand uses the [Algorand virtual machine (AVM)](https://developer.algorand.org/docs/get-details/dapps/avm/) to run nodes on the blockchain. This makes it much harder to develop for it, and harder for DApps from other chains to be adapted to ALGO – which might explain why there isn’t a lot going on there. > > * ALGO often underdelivers on promises. For example, in late 2020 Micali promised that TPS will soon grow from [1,000 to 46,000](https://www.algorand.com/resources/algorand-announcements/algorand-2021-performance). From what I can tell from different sources (e.g. [here](https://www.gemini.com/cryptopedia/what-is-algorand-cryptocurrency-blockchain)) it’s still around 1,000, almost 1 1/2 years later. > > * the tokenomics are famously bad, with a ton of coins [going to the devs and early backers](https://algorand.foundation/governance/algo-dynamics) (they used to have another problem, accelerated vesting, that has however been [mitigated]( https://algorand.foundation/news/accelerated-vesting-complete) a few months ago) ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/sifdb5/coin_inquiries_algorand_conarguments_february_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Algorand) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10vmhhb/daily_general_discussion_february_7_2023_gmt0/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 09:00:24
/r/CryptoCurrency/comments/10w2if8/algorand_foundation_announces_broadreaching/j7kl1l9/

#Algorand Pro-Arguments Below is an argument written by Zarkorix which won 2nd place in the Algorand Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Disclaimer: ALGO is ~15% of my portfolio. > > ## Solving the Blockchain Trilemma > > Algorand is a solution to the "blockchain trilemma" - the ability of a network to be simultaneously scalable, secure and decentralised. ALGO's TPS is 1k/s, with a 4s finality, 0.001 ALGO transaction fee and it offers L1 smart contracts - however the network will be upgraded in Q3-Q4 2021 to 45k/s TPS and 2.5s finality, ranking it toward the top for speed and scalability [(Source)](https://www.algorand.com/120720-Algorand%202021%20Performance.pdf) > > Decentralisation is achieved by the pure PoS (PPoS) consensus mechanism, which employs **algo**rithmic **rand**omness. Unlike delegated PoS (e.g. XTZ, ADA), PPoS does not employ pooled validators, thus minimizing the drive toward centralisation over time that dPOS suffers from. ALGO node running is permissionless - anybody with >1 ALGO can run a node and theoretically participate in consensus. Moreover, the hardware requirements are extremely low - an ALGO node can be run on a low energy, $50 Raspberry Pi. > > A key feature of PPoS is the use of a randomised, weighted lottery that selects validators - known as VRF. This prevents any malicious actor(s) from attacking the network since the identities of the currently selected validators (who must be corrupted in order to carry out an attack) are not known until the block is already finalised. At 1-4k validators, PPoS is paradoxically superior to ETH 2.0's 150,000 nodes - because ETH's beacon chains are long-lived. By contrast, ALGO's random selections vary on both a *round* and *subround* basis - that is, block proposers, voters, vote certifiers all vary, across all steps of certifying a block. Unlike ETH 2.0, which makes a single node the 'king-of-the-hill' for a given round (and thus employs slashing to discourage this node from misbehaving), if a node misbehaves in ALGO, it is simply voted against by all other certifiers - no slashing required. > > Governance (launching 1/10/21) will further decentralise the network by placing decisions concerning the network, tokenomics and which projects receive developer grants (see below) into the hands of ALGO holders. > > **Main Conclusion:** ALGO is fast, scalable, secure while remaining decentralised. > > ## Carbon Negative > > Algorand's pure proof-of-stake (PPoS) consensus mechanism is extremely lightweight, consuming \~0.000008 kWh/tx (vs. 0.5479 kWh/tx in ADA - that's \~70,000x less energy, and 116250000x less energy than BTC) - with 4,000 active validators. Minting an NFT requires only 0.0000004 kg of CO2 [(Source).](https://www.algorand.com/resources/blog/sustainable-blockchain-calculating-the-carbon-footprint) This energy usage is 100%+ offset via carbon credits - locked up by an on-chain sustainability oracle, via smart contract, that analyses the energy used by each node. A partnership with ClimateTrade (amongst others) channels this funding into reforestation, peat-management and wind-energy projects at a global level [(Source)](https://www.algorand.com/resources/algorand-announcements/carbon_negative_announcement). > > **Main Conclusion:** ALGO is eco-friendly, and the world's first carbon *negative* blockchain network. > > ## Staking Rewards > > ALGO currently offers a seamless staking experience, with an APY of \~5.75% - you simply hold ALGO in a custodial wallet to participate (i.e. you do not need to select a validator and there is no lock-up period). In other words, your ALGO remains liquid at all times. This, however, will be gradually phased out and replaced by Governance, which will increase APY to 7%-30% (depending on the number of participants) but which will require you to vote in every proposal. > > ## Developer Friendly & Ecosystem > > Algorand is extremely accessible to developers [(Source 1)](https://developer.algorand.org/tutorials/) [(Source 2)](https://developer.algorand.org/docs/reference/sdks/): it supports development in Python, C++, GO, Java, Javascript and RUST - removing the need for developers to retrain or learn obscure or new languages (e.g. Haskell). ALGO's smart contract language, TEAL, is incredibly intuitive and can be accessed via Python (PyTEAL). As shown in Source 1, Algorand offers comprehensive and detailed documentation and tutorials (for free) to all prospective developers. > > More importantly, \~$200-250m is available to support developers and 50+ grants have already been issued [(Source)](https://algorand.foundation/developers/developer-incentive-awards-program). In total, \~600-650 companies are currently developing on ALGO and intend to deploy DApps/ALGO-based services [(Source)](https://www.algorand.com/ecosystem/). > > **Main Conclusion:** ALGO has the ability to instantly attract developers, and is poised for an explosion in its ecosystem. > > ## Academic Rigor > > Algorand was founded by the Turing-award-winning, MIT professor Silvio Micali - and is backed by an excellent team with solid peer-reviewed academic prowess and publication record [(Source 1)](https://www.algorand.com/technology/research-innovation/research-papers) [(Source 2)](https://scholar.google.com/scholar?hl=en&as_sdt=0%2C5&q=silvio+micali&btnG=). Silvio Micali conceived of and pioneered zero-knowledge proofs (among many other protocols) - a key, integral part of ETH 2.0 and the future of cryptography/cryptocurrencies. Such a respectable and trustworthy team boosts ALGO's chances of mass adoption, especially in the financial/institutional sectors. > > **Main Conclusion:** ALGO's ability to form partnerships is bolstered by the prestige of its team. > > ## Real World Use > > A key feature of Algorand is that it is *forkless* \- it is mathematically impossible for ALGO to fork [(Source)](https://www.sciencedirect.com/science/article/pii/S030439751930091X). This is extremely important for real-world usage + transactions. Businesses accepting ALGO (unlike 99% of other cryptos) will not only experience rapid finality but can trust that the transaction is not on a forked, branch of the blockchain that can be lost. This also applies to NFTs. Thus far, ALGO has seen major adoption, recently including: > > * 70M South Americans (potentially 200M soon) using ALGO to issue + store COVID-19 passports [(Source)](https://www.algorand.com/resources/ecosystem-announcements/vitalpass-vaccine-tracing-latam/) > * BNext adopting ALGO for its $100b/year Spain<->Latin American remittance service [(Source)](https://www.algorand.com/resources/ecosystem-announcements/bnext-announces-next-generation-remittance-service/) > * MAPay adopting ALGO to power $800m/year in healthcare payments for Bermuda [(Source)](https://www.algorand.com/resources/ecosystem-announcements/mapay-to-implement-blockchain-based-solutions-on-algorand) > * SIAE, one of the largest and oldest digital rights managements companies in the world, launched 4.5m NFTs onto ALGO - representing the work of 10,000 artists and which will involve $100m/year in royalties [(Source)](https://www.algorand.com/ecosystem/use-cases/siae). > * ALGO was recently featured in a World Economic Forum (WEF) report on cryptocurrency - listed as a recommended "VIP" blockchain that solves issues with BTC/ETH and proof-of-stake [(Source)](http://www3.weforum.org/docs/WEF_Getting_Started_Cryptocurrency_2021.pdf). This document will be seen by institutions, banks and economists worldwide. > > The list goes on and on [Here.](https://www.algorand.com/ecosystem/use-cases) > > **Main Conclusion:** ALGO is already being deployed for large-scale and institutional solutions - despite only launching \~2y ago. ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/ovmttc/rcc_cointest_coin_inquiries_algorand_proarguments/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Algorand) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 09:00:15
/r/CryptoCurrency/comments/10w2if8/algorand_foundation_announces_broadreaching/j7kl0sy/

Algorand {{pros}} & {{cons}} and related info are in the collapsed comments below. Pros and cons will change for every new post. Submit a pro/con argument in the [Cointest](https://www.reddit.com/r/CointestOfficial/wiki/cointest_policy) and potentially win [Moons](https://coinmarketcap.com/currencies/moon/). Moon prizes by award for the Coin Inquiries category are: **1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 1000.** --- To submit an Algorand pro-argument, [click here](https://www.reddit.com/r/CointestOfficial/comments/sifd8p/coin_inquiries_algorand_proarguments_february_2022/). | To submit an Algorand con-argument, [click here](https://www.reddit.com/r/CointestOfficial/comments/sifdb5/coin_inquiries_algorand_conarguments_february_2022/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 09:00:05
/r/CryptoCurrency/comments/10w2if8/algorand_foundation_announces_broadreaching/j7kl0ts/

* 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), [Proof of Stake](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_proof-of-stake). * Relevant subreddits: r/Algorand, r/AlgorandOfficial, r/Ethereum, r/Cardano, r/ProofOfStake. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/10w2if8/algorand_foundation_announces_broadreaching/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 09:00:05
/r/CryptoCurrency/comments/10w1vgk/cryptocurrencies_have_been_mainstream_for_some/j7kj8yn/

#Ethereum Con-Arguments Below is an argument written by Maleficent_Plankton which won 1st place in the Ethereum Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Ethereum has drastically changed in the past year now that it has rebranded itself as **Consensus/Settlement layer** for other Layer 2 Execution/Rollup networks. It is no longer trying to be a monolithic blockchain by itself. Because of this shift in design, many of its former CONs are no longer major issues. And many of the CONs that still exist often have a beneficial sides. > > I discuss the CONs of Ethereum and their impact on its users here: > > ## CONs > > **Gas Fees** (major): > > The biggest complaint for Ethereum is its network gas fees. Every transaction needs gas to pay for storage and processing power, and gas prices vary based on demand. Gas price is very volatile and often changes 2-5x in magnitude within the same day. ERC20 transfers are used for a large percentage of cryptocurrencies, and it's the reason much of DeFi is extremely expensive. If I wanted to send ERC20 tokens between exchanges, it's often cheaper to trade for XRP, ALGO, or some other microtransaction coin, transfer it using their other coin's native network, and then trade back into the original token. Basically: use a coin on a different network to avoid fees. > > Typical transaction fees for Ethereum were [between $2-10 over the past year](https://etherscan.io/chart/avg-txfee-usd), but they have shot up to $50+ several times in 2021. > > And that's just for basic transactions. Anyone who has tried to use more complex smart contracts like moving MATIC from Polygon mainnet back to ETH L1 mainnet during a time of high gas fees mid-year in 2021 saw $100-$200 gas fees. Transferring ERC-20 tokens (often $20-50) is also more gas expensive because it can't be done through native transfers like on the Cardano network. It's impractical to use swaps like Uniswap for small transactions due to these fees. > > In particular, One/Many-to-many batch transactions are extremely gas-expensive using Ethereum's account-based model compared to Bitcoin's and Cardano's UXTO-based model. [This batch transaction on Ethereum](https://etherscan.io/tx/0x0fe2542079644e107cbf13690eb9c2c65963ccb79089ff96bfaf8dced2331c92) cost over $5000 while [a similar eUXTO transaction on Cardano](https://adapools.org/transactions/e586c6340ee9e60a6c64f447feffe5f89bdabc7741666ecaa681081957938f56) only cost $0.50 in fees. > > On the other hand, these fees provide Ethereum long-term economic sustainability and resilience against DDoS and spam attacks. > > **Competition from other Smart Contract networks** (moderate): > > Ethereum has enjoyed its lead as the smart contract blockchain due to first-mover advantage. But there are now many efficient smart contract competitors like Algorand, Solana, and Cardano. Ethereum is now facing much competition. Who wants to pay $20 gas fees on Ethereum when you can get similar transactions for under $0.01 with Algo and Solana or $0.30 transactions with Cardano? > > Fortunately, the amount of competition is limited because Ethereum is positioning itself as a Settlement layer whereas these other networks are monolithic networks. All monolithic networks will eventually run into scaling issues due to long-term storage and bandwidth limits. It will really depend on how successful Ethereum's Layer 2 rollup solutions will be. > > **Future uncertainty about Layer 2 solutions** (major): > > Ethereum's long-term success is dependent on the success of its Layer 2 solutions. > > These Layer 2 solutions are still extremely early. Even after a year, L2 has a very fragmented adoption. The majority of centralized exchanges currently do not support Layer 2 rollup networks. A few have started to support Polygon, which is more of a Layer 2 side-chain that saves state every 256 blocks than a Layer 2 rollup. Very few CEXs allow for direct fiat on/off-ramping on L2 networks, which puts those networks out of reach of most users. > > Many of these Layer 2 networks (Arbitrum, Optimism, Loopring, ZKSync, etc), are not interoperable with each other. You can store your tokens on any specific L2 network, but they're stuck there. If you want to move your tokens back to Layer 1 or to another L2 network, you have to pay very expensive smart contract gas fees ($50-300). Eventually, there will be bridges between these networks, but we could be years away from widespread adoption. > > Fragmented liquidity is another huge issue. Each of these L2 networks has its own liquidity pool for each token it supports. You can store your token on the the L2 network, but you won't be able to trade or swap much if there are no liquidity pools for that token. Eventually, there will be Dynamic Automated Market Makers (dAMMs) that can share liquidity between networks, but they are complex and introduce their own weaknesses. > > Both Optimistic and ZK Rollups are handled off-chain and require a separate network nodes or smart contracts as infrastructure to validate transactions or generate ZK Proofs. They are very centralized in how they operate, so there's always the risk that their network operators could cheat their customers. By now, the community seems to agree that ZK rollups are the future rollup solution to decentralized L2 networks. There is only 1 notable instance of Plasma (Ethereum to Polygon network conversion), and no one uses it anymore since the Ethereum-Polygon bridge is easier to use. The biggest competitor to ZK rollups are Optimistic rollups, and those take too long to settle back to Layer 1 (1 week) and are still too expensive to use (20-50% of the cost of L1 Ethereum gas fees for transfers). > > **ZK Rollups** require special infrastructure to generate ZK Proofs. These are very computationally-expensive, potentially [thousands of times](https://vitalik.ca/general/2021/01/05/rollup.html) more expensive that just doing the computation directly. To reduce the cost, they are done completely-centralized by specialized servers. Thus the cost of a ZK Rollup is cheap at about [$0.10 to $.30](https://l2fees.info/). But even at $0.10 per transfer and $0.50 per swap, these are still at least 10x more expensive than costs on Algorand and Solana. Users will have to decide whether the extra cost and hassle of using an L2 platform is worth the extra security of settling on the more-decentralized and secure Ethereum L1 network. > > **Ethereum Proof-of-Stake merge is arriving later than competitors** (moderate): > > The ETH PoS Beacon chain has been released, it's a completely separate blockchain from ETH and won't merge with the main blockchain [until later this year](https://decrypt.co/78690/ethereum-2-staking-tops-21-billion-merge-horizon), giving its competitors plenty of time to provide FUD. We still don't know how successful the merge will be. Currently, stakes are locked, preventing investors from selling. We don't know what will happen to the price once staking unlocks. > > **MEV and Dark Forest attacks** (minor): > > [MEV](https://np.reddit.com/r/MPlankton/comments/rs4wp2/the_dark_forest_of_cryptocurrency/) is actually a pretty big issue for networks with high gas arbitrage and mempools like Ethereum, but most casual users will never notice hostile arbitrage. When you broadcast your transaction to the network, there are armies of bots and automated miners that analyze your transaction to see if they can perform arbitrage strategies on your transaction such as front-running, sandwiching, excluding transactions, stealing/replaying transactions, and other pure-profit plays. "Dark Forest" attacks have reveled that bots are constantly monitoring the network, and they can front-run you unless you have your own private army of miners. > > **Final Word** > > Overall, I still think the PROs outweigh the CONs for Ethereum in the long-run due to its first-mover advantage and the long-term sustainability of the Ethereum network. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2luf/top_10_ethereum_conarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10vmhhb/daily_general_discussion_february_7_2023_gmt0/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 08:45:41
/r/CryptoCurrency/comments/10w1vgk/cryptocurrencies_have_been_mainstream_for_some/j7kj8c2/

#Ethereum Pro-Arguments Below is an argument written by Maleficent_Plankton which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > # Background > > Ethereum is a **multi-layer smart contract ecosystem** that is currently migrating from Proof of Work to Proof of Stake: > > * Layer 1 - Consensus/Settlement layer > * Layer 2 - Execution/Rollup layer > > ## PROs > > **First-mover advantage** (major): > > Like Bitcoin, Ethereum enjoys a first-mover advantage. Being around longer than all other smart contract networks gives Ethereum a massive advantage in adoption, which leads to greater decentralization, security, liquidity pools, and app development. Because of the first-mover advantage, Ethereum easily trounces its competitors in security and popularity, and those competitors have little chance of catching up even though their virtual machines are more efficient than EVM. > > **Resilient to spam and Denial-of-Service attacks** (moderate): > > Due to high gas fees on the Ethereum network, it is extremely resistant to DDoS attacks and spam attacks. Ethereum is battle-tested and hasn't sufferred a major DDoS attack since 2016. > > Some of its competitors are still dealing with DDoS attacks. Every time the Solana network goes down from DDoS attacks, which have happened at least 6 times in the past year, there are huge complaints from the crypto community. You need a large amount of memory and bandwidth to keep up with fast networks like Solana. Similarly, Polygon suffered an unintentional DDoS attack from [Sunflower Farmers game](https://www.coindesk.com/tech/2022/01/06/polygon-under-accidental-attack-from-swarm-of-sunflower-farmers/) in Jan 6. For several days, bots ground the network to a halt. > > **Proof of Stake resistant to 51% attacks** (minor): > > * 51% attack (for PoS and PoW) can only revert or censor transactions. [It cannot be used to steal accounts.](https://thedefiant.io/vitalik-eth-cross-chain-bridges-security/). Every transaction has to result in a consistent state. > * With the exception of client bugs that can have unexpected and widespread effects, deterministic PoS networks are very resistant to reorg attacks since they can be immediately detected when a double-spend happens. Bad nodes will be immediately slashed and that double-spend will never go through. > > **Long-term scalability as a settlement layer** (major): > > Ethereum has long-term scalability through Layer 2 rollups. It can offload all its data bloat and computations off-chain. > > Many monolithic blockchains are fine for now, but they eventually all suffer from massive data bloat on their blockchains unless they also offload to Layer 2 solutions. When this happens, they will be playing catch-up with Ethereum. > > **Economic sustainability** (major): > > * Ethereum PoS is one of the ONLY networks that's expected to be deflationary due to its extremely-high fees. Ethereum PoW's amount of inflation is [now offset 35%](https://watchtheburn.com/) in Jun 2022 by the amount burned per transaction from EIP-1559. After the merge, the issuance is expected to drop 80%, making Ethereum PoS the first popular blockchain that will have **supply deflation** and become a positive-sum investment. > * In contrast, many other blockchains have enjoyed lower transaction fees by subsidizing network costs through charging investors with inflation. > * **Polygon PoS** distributes $400M in inflationary rewards annually but only collects $18M in fees. > * **Solana** collects only $40M in fees but gives away 100x that much ($4B) in rewards [[Source](https://polynya.medium.com/why-rollups-data-shards-are-the-only-sustainable-solution-for-high-scalability-c9aabd6fbb48)]. > * **Cardano** rewards stakers from a diminishing rewards pool that is on schedule to drop 90% in 5 years. > * **Bitcoin** pays miners with block subsidies (set to diminish by 99% in 30 years) that are 50-100x bigger than its transaction fees. When their subsidies disappear, unless they have major governance changes, these networks are either going to see much higher fees, or their security is going to decrease drastically. > * **Avalanche** has 10% inflation, and the [burn rate](https://burnedavax.com/) is 100x smaller than the issuance rate. > * **Algorand** pays from a staking reward pool [that disappears in 2030](https://algorand.foundation/governance/algo-dynamics). Its low transaction fees don't cover the cost of paying for validators and relay nodes. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/tuwvz5/top_coins_ethereum_proarguments_april_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 08:45:32
/r/CryptoCurrency/comments/10w1vgk/cryptocurrencies_have_been_mainstream_for_some/j7kj7qx/

Ethereum {{pros}} & {{cons}} and related info are in the collapsed comments below. Pros and cons will change for every new post. Submit a pro/con argument in the [Cointest](https://www.reddit.com/r/CointestOfficial/wiki/cointest_policy) and potentially win [Moons](https://coinmarketcap.com/currencies/moon/). Moon prizes by award for the Top Coins category are: **1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 1000.** --- To submit an ETH pro-argument, [click here](https://old.reddit.com/r/CointestOfficial/comments/tuwvz5/top_coins_ethereum_proarguments_april_2022/). | To submit an ETH con-argument, [click here](https://old.reddit.com/r/CointestOfficial/comments/tuww2u/top_coins_ethereum_conarguments_april_2022/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 08:45:24
/r/CryptoCurrency/comments/10w1vgk/cryptocurrencies_have_been_mainstream_for_some/j7kj7rq/

* Relevant Cointest topics: [Cardano](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_cardano), [Algorand](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_algorand), [Solana](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_solana), [Polkadot](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_polkadot), [Cosmos](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_cosmos), [Proof of Stake](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_proof-of-stake). * Official and related subreddits: r/Ethereum, r/EthTrader, r/EthStaker, r/Cardano, r/Algorand, r/Solana, r/CosmosNetwork, r/Polkadot, r/Tezos. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/10w1vgk/cryptocurrencies_have_been_mainstream_for_some/j7kj6fc/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 08:45:24
/r/CryptoCurrency/comments/10w1vgk/cryptocurrencies_have_been_mainstream_for_some/j7kj7pr/

#Bitcoin Con-Arguments Below is an argument written by Nostalg33k which won 2nd place in the Bitcoin Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > # Bitcoin: A nice idea with the worst implementation possible. > > Having a worldwide permission-less system of financial settlement may seem like a good idea at first glance. "Let's bank the unbanked" and other nice sentences skewed crypto enthusiasts towards Bitcoin but in the end, Bitcoin is already failing and should nothing be done to change some of its internal and external factors, Bitcoin's outlook could change from positive to very negative. Here is my perspective on the future of Bitcoin. > > # Early investors makes the profit > > A permission-less payment system to escape the greediness of the banks... only to be left in the hands of speculators. Right now, Bitcoin is an investment more than a payment system. After all, if you were paid in Bitcoin in 2021, you could have lost more than 2/3 of the value you transferred to your client. > > This is why Bitcoin is problematic as a Permission-less settlement system: You always need to go back to banks and to fiat because fiat is more stable than Bitcoin. > > This situation leads to early investors getting profits and people using Bitcoin as supposed (A payment system) are left licking their wounds. > > # The price of permission less. > > An ethical question arise when discussing a permission less settlement system. Should we have one ? From terrorism to rogue states, our world is still very unstable. Bitcoin is only creating more instability. Allowing countries such as Iran to escape US led sanctions. After all Bitcoin first use case was to fuel the financial ecosystem of a dark web drug market. > > &#x200B; > > # No framework for adoption > > In a lot of countries, being paid in Bitcoin is problematic. From different taxation rules for revenue in Bitcoin to straight up considering all Crypto holdings to be speculative and considering they should be under a flat tax of 30%. This lack of framework may have been a reason for Bitcoin rising to this point but it is now slowing development. > > &#x200B; > > # Conclusion: Bitcoin is both a threat to global stability and under threat because of the lack of oversight. > > Having a permission less settlement system seems like a good thing... between reasonable financial actors. Right now this anarco libertariano capitalist idea may have already gone too far. Allowing cartels and other criminals to be funded through Bitcoin is a bad idea. People using Bitcoin in Venezuela could be seen as a good thing BUT the theory is supposed to be that financial suffering leads to revolution. > > More over the lack of comprehensive rules worldwide when looking at Cryptocurrencies is now slowing adoption. Adoption which could lead to a congested network. > > In the end we may simply be looking at Bitcoin failing its first mission. Becoming slowly a reserve fund for traditional banking and countries instead of offering an alternative to traditional banking. > > This failure shows that Bitcoin has not resolved the problems it set out to resolve and that the experiment should be seen as a failure for everyone except those of us treating Crypto as an investment. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpuiar/top_coins_bitcoin_conarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10vmhhb/daily_general_discussion_february_7_2023_gmt0/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 08:45:24
/r/CryptoCurrency/comments/10w1vgk/cryptocurrencies_have_been_mainstream_for_some/j7kj73i/

#Bitcoin Pro-Arguments Below is an argument written by Nostalg33k which won 1st place in the Bitcoin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Writing a Pro argument for Bitcoin in 2022 seems complicated because everything has been said... or did it? > > Edit: I have a small bag of Bitcoin currently valued around 600 bucks. I am also invested in crypto around 2000 bucks which are always moving when Bitcoin is moving. Financial disclosure should be mandatory in these arguments =) > > # Bitcoin is the king of POW: Why it matters and why we need a strong Bitcoin > > So as the title suggests it, the recent news from Ethereum switching from POW to POS makes Bitcoin the sole serious POW cryptocurrency. In this write up, we are going to discuss the three main strength of Bitcoin, security, decentralization, and incentive for green energy production. In this write up we are not going to talk about speculation or the financial side of Bitcoin. Bitcoin is a highly liquid asset and has become nearly universally known as an investment. Many arguments have been made in favor of Bitcoin as an investment and if you want to read one, just go to past cointests. > > &#x200B; > > Of course, the main feature of Bitcoin is the Permissionless aspect. This won't be tackled at all as I think it deserves its own topic. > > &#x200B; > > # 1) Bitcoin: High security > > This topic has also been talked to death: Bitcoin is ultra secure thanks to its Blockchain and the way it is verified through proof of work. To explain this let me quote IBM: > > &#x200B; > > >Public blockchain networks typically allow anyone to join and for participants to remain anonymous. A public blockchain uses internet-connected computers to validate transactions and achieve consensus. Bitcoin is probably the most well-known example of a public blockchain, and it achieves consensus through "bitcoin mining." Computers on the bitcoin network, or “miners,” try to solve a complex cryptographic problem to create proof of work and thereby validate the transaction. Outside of public keys, there are few identity and access controls in this type of network. > > > >[IBM on Blockchain security](https://www.ibm.com/topics/blockchain-security) > > &#x200B; > > Mining is measured in Hashrate. Here is the explanation of Hashrate: > > >Hash rate, sometimes referred to as hashrate, is a measure of the computing power on a cryptocurrency network that serves as a key security indicator. It measures the total computational power used by a “proof-of-work” (POW) cryptocurrency network to process transactions in a blockchain. > > > >[USNEWS explains hashrate](https://money.usnews.com/investing/term/hash-rate#:~:text=Hash%20rate%2C%20sometimes%20referred%20to,process%20transactions%20in%20a%20blockchain) > > &#x200B; > > So if the hashrate measures the security of the network, one may asks themselves: "Did the security of Bitcoin slowed when the price fell ?" > > [The hashrate is at an ATH and growing making Bitcoin more and more secure as it continues to build over time](https://ycharts.com/indicators/bitcoin_network_hash_rate#:~:text=Basic%20Info,101.2%25%20from%20one%20year%20ago) > > &#x200B; > > So Bitcoin has never been as secure as it is today which makes it ultra valuable as a way to settle financial transactions. Yes holding Bitcoin for a long time is risky but using it as a medium to settle international transaction may currently be the securest and one of the best way to do so. > > While Bitcoin is safe... what if a big part fails ? > > &#x200B; > > # 2) Bitcoin mining: Too big to fail. > > &#x200B; > > So this write up could be seen as a POW write up, which it is to an extent. But Bitcoin offers its history and shows that it can survive the disparition of a big part of the network. > > Decentralization allows for parts of the network to disappear and for the rest to take the mantle of securing the network. Yes, mining pools may grow too large for their own sake BUT in the end (nothing even matters) Bitcoin is heavily decentralized. It is so decentralized that, when China (which had a big part of Bitcoin mining) banned mining, Bitcoin just went through like nothing happened. Yes the hashrate fell a bit, the value too, but if we look back, it was nothing extraordinary. > > &#x200B; > > So if Bitcoin is highly secure and if it can survive part of the hashrate going bye bye, what makes it so good? What is the difference with any POW Cryptocurrency right now? > > &#x200B; > > # 3) Bitcoin: propping up the green energy sector. > > &#x200B; > > POW uses energy. One of the biggest concern about POW is the energy. While Ethereum was using GPUs and was asic resistant. Bitcoin mining is built differently. A long time ago, under oath, people discussed the environmental impact of Bitcoin Mining and I made a post explaining what was said: > > &#x200B; > > >The Energy Fud Was Killed > > The most important thing that happened: The narrative that Bitcoin is too energy intensive was totally reversed. > > Experts of the sector explained that, Wind Farms and Solar Farms, have a variable load. This variable load means that sometimes they lose money because they produce too much and there is not enough demand. Bitcoin mining provides a variable base load for these projects. What it means is that, mining can be turned on and off depending on demand. It was revealed that most of these wind and solar farms would simply not exist without Bitcoin Farming as baseline customers. > > There are still miners that are using coal plants and fossil fuel but the leaders of the industry are developing in tandem with the green energy sector. > > >[My post](https://www.reddit.com/r/CryptoCurrency/comments/s99phv/yesterday_one_of_the_most_bullish_events_ever/) > > &#x200B; > > # Conclusion: Bitcoin is the flagship of POW and it is a feature not a bug. > > Bitcoin, thanks to its value and tokenomics is seen as a good investment, this is also why miners commit huge amount of ressources to take the hashrate to new heights. These miners help the US grid to become more and more resilient. The future of Crypto and of green energy relies a lot on Bitcoin. Bitcoin has proven time and time again that it can shoulder these changes. Bitcoin is a good piece of technology and I hope people continue to invest in it because it is doing a lot of good for our future ! ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpui9i/top_coins_bitcoin_proarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 08:45:15
/r/CryptoCurrency/comments/10w1vgk/cryptocurrencies_have_been_mainstream_for_some/j7kj6he/

* Relevant Cointest topics: [Bitcoin Cash](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_bitcoin_cash), [Litecoin](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_litecoin), [Lightning Network](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_lightning_network), [Proof of Work](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_proof-of-work) * Official and related subreddits: r/Bitcoin, r/BitcoinMarkets, r/BitcoinMining, r/BTC, r/BitcoinCash. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/10w1vgk/cryptocurrencies_have_been_mainstream_for_some/j7kj6fc/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 08:45:07
/r/CryptoCurrency/comments/10w1vgk/cryptocurrencies_have_been_mainstream_for_some/j7kj6gt/

Bitcoin {{pros}} & {{cons}} and related info are in the collapsed comments below. Pros and cons will change for every new post.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 08:45:07
/r/CryptoCurrency/comments/10w1vgk/cryptocurrencies_have_been_mainstream_for_some/j7kj6fc/

Pro & con info are in the collapsed comments below for the following topics: {{top_level_links}}

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 08:45:06
/r/CryptoMarkets/comments/10w1qoi/new_dubai_regulations_require_crypto_firms_to/j7khjkn/

#Regulation Con-Arguments Below is an argument written by noxtrifle which won 1st place in the Regulation Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Government regulation generally refers to the degree of control that government have over something, and in this case, cryptocurrencies. Various countries around the world have mixed regulatory perspectives on cryptocurrencies, and as such have restricted whether its citizens can trade, purchase, or mine cryptocurrencies. However, this restriction of cryptocurrency adoption is not beneficial for investors and companies for several reasons: > > * **Price** > * One of the most obvious arguments against government regulation is that it will inevitably cause crypto prices to decrease, as seen when China announced (several times) its cryptocurrency bans. > * **Sacrifice of Purpose** > * The widespread implementation of government regulations [naturally bring them into the industry](https://amt-lab.org/blog/2022/3/risks-and-regulations-the-good-the-bad-and-the-ugly-of-crypto-space), which goes against the fundamental nature of cryptocurrencies as a means of transacting pseudonymously without regulatory oversight. > * If this purpose is sacrificed in pursuit of a safer space, there may very well be no space left to make safer; as most investors would pull out of cryptocurrencies because there will remain no purpose to stay invested. > * **Banking Restrictions** > * In the worst case scenario where regulation deems cryptocurrencies illegal, third-party providers may be hesitant to provide services such as bank accounts or exchanges if the government is refusing to recognize cryptocurrencies as legal tender. Without these services, investors are unable to easily withdraw or deposit their funds. > * **Reduction in Product Offerings** > * Continuing the worst-case scenario, in a world where tech companies, banks and startups are looking for ways to utilize blockchain technologies, government regulation will force them to alter their products and services in order to continue operating within jurisdictions that have banned cryptocurrency adoption. > * By narrowing down the array of investment options, the flexibility of blockchain technology will be reduced significantly. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/v2jl9o/general_concepts_government_regulation/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_government_regulation) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10vmhhb/daily_general_discussion_february_7_2023_gmt0/).

Commented by /u/CointestMod in /r/CryptoMarkets on February 7, 2023 08:31:18
/r/CryptoMarkets/comments/10w1qoi/new_dubai_regulations_require_crypto_firms_to/j7khiye/

#Regulation Pro-Arguments Below is an argument written by Laughingboy14 which won 3rd place in the Regulation Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Crypto is currently a lawless wild west. In the last year alone, we have seen Luna's spectacular collapse, multiple bankruptcies, and countless scams. This, among other reasons, is a product of a lack of regulation. If anyone can create a project, the project can be entitled anything and promise the world, it leaves the potential for scams and nefarious entities. This ultimately is a hindrance to adoption. The non-crypto-enthusiast sees these scams and lack of regulation and is put off crypto. > > Note, government regulation does not need to be stifling. Government regulation can be, in the right hands, a needed guiding hand to aid the crypto market. It will provide reassurances to the masses, reduce the number of bad actors in the space, and reduce the chances of you losing your hard earned crypto. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/v2jl88/general_concepts_government_regulation/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_government_regulation) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoMarkets on February 7, 2023 08:31:09
/r/CryptoMarkets/comments/10w1qoi/new_dubai_regulations_require_crypto_firms_to/j7khiex/

* Relevant Cointest topics: [Inflation](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_inflation), [ETF](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_etf). * Relevant subreddits: r/OSHA, r/ModeratePolitics. * Sort comments as controversial first by [clicking here](/r/CryptoMarkets/comments/10w1qoi/new_dubai_regulations_require_crypto_firms_to/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoMarkets on February 7, 2023 08:31:01
/r/CryptoMarkets/comments/10w1qoi/new_dubai_regulations_require_crypto_firms_to/j7khide/

Government regulation [pros](/r/CryptoMarkets/comments/10w1qoi/new_dubai_regulations_require_crypto_firms_to/j7khiye/) & [cons](/r/CryptoMarkets/comments/10w1qoi/new_dubai_regulations_require_crypto_firms_to/j7khjkn/) and related info are in the collapsed comments below. Pros and cons will change for every new post. Submit a pro/con argument in the [Cointest](https://www.reddit.com/r/CointestOfficial/wiki/cointest_policy) and potentially win [Moons](https://coinmarketcap.com/currencies/moon/). Moon prizes by award for the General Concepts category are: **1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 1000.** --- To submit a pro-argument about regulation, [click here](https://www.reddit.com/r/CointestOfficial/comments/t5mn3b/general_concepts_government_regulation/). | To submit a con-argument about regulation, [click here](https://www.reddit.com/r/CointestOfficial/comments/t5mn40/general_concepts_government_regulation/).

Commented by /u/CointestMod in /r/CryptoMarkets on February 7, 2023 08:31:01
/r/CryptoMarkets/comments/10w1syx/yes_i_have_received_two_eth_rewards_payments/j7khibg/

#Ethereum Con-Arguments Below is an argument written by Maleficent_Plankton which won 1st place in the Ethereum Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Ethereum has drastically changed in the past year now that it has rebranded itself as **Consensus/Settlement layer** for other Layer 2 Execution/Rollup networks. It is no longer trying to be a monolithic blockchain by itself. Because of this shift in design, many of its former CONs are no longer major issues. And many of the CONs that still exist often have a beneficial sides. > > I discuss the CONs of Ethereum and their impact on its users here: > > ## CONs > > **Gas Fees** (major): > > The biggest complaint for Ethereum is its network gas fees. Every transaction needs gas to pay for storage and processing power, and gas prices vary based on demand. Gas price is very volatile and often changes 2-5x in magnitude within the same day. ERC20 transfers are used for a large percentage of cryptocurrencies, and it's the reason much of DeFi is extremely expensive. If I wanted to send ERC20 tokens between exchanges, it's often cheaper to trade for XRP, ALGO, or some other microtransaction coin, transfer it using their other coin's native network, and then trade back into the original token. Basically: use a coin on a different network to avoid fees. > > Typical transaction fees for Ethereum were [between $2-10 over the past year](https://etherscan.io/chart/avg-txfee-usd), but they have shot up to $50+ several times in 2021. > > And that's just for basic transactions. Anyone who has tried to use more complex smart contracts like moving MATIC from Polygon mainnet back to ETH L1 mainnet during a time of high gas fees mid-year in 2021 saw $100-$200 gas fees. Transferring ERC-20 tokens (often $20-50) is also more gas expensive because it can't be done through native transfers like on the Cardano network. It's impractical to use swaps like Uniswap for small transactions due to these fees. > > In particular, One/Many-to-many batch transactions are extremely gas-expensive using Ethereum's account-based model compared to Bitcoin's and Cardano's UXTO-based model. [This batch transaction on Ethereum](https://etherscan.io/tx/0x0fe2542079644e107cbf13690eb9c2c65963ccb79089ff96bfaf8dced2331c92) cost over $5000 while [a similar eUXTO transaction on Cardano](https://adapools.org/transactions/e586c6340ee9e60a6c64f447feffe5f89bdabc7741666ecaa681081957938f56) only cost $0.50 in fees. > > On the other hand, these fees provide Ethereum long-term economic sustainability and resilience against DDoS and spam attacks. > > **Competition from other Smart Contract networks** (moderate): > > Ethereum has enjoyed its lead as the smart contract blockchain due to first-mover advantage. But there are now many efficient smart contract competitors like Algorand, Solana, and Cardano. Ethereum is now facing much competition. Who wants to pay $20 gas fees on Ethereum when you can get similar transactions for under $0.01 with Algo and Solana or $0.30 transactions with Cardano? > > Fortunately, the amount of competition is limited because Ethereum is positioning itself as a Settlement layer whereas these other networks are monolithic networks. All monolithic networks will eventually run into scaling issues due to long-term storage and bandwidth limits. It will really depend on how successful Ethereum's Layer 2 rollup solutions will be. > > **Future uncertainty about Layer 2 solutions** (major): > > Ethereum's long-term success is dependent on the success of its Layer 2 solutions. > > These Layer 2 solutions are still extremely early. Even after a year, L2 has a very fragmented adoption. The majority of centralized exchanges currently do not support Layer 2 rollup networks. A few have started to support Polygon, which is more of a Layer 2 side-chain that saves state every 256 blocks than a Layer 2 rollup. Very few CEXs allow for direct fiat on/off-ramping on L2 networks, which puts those networks out of reach of most users. > > Many of these Layer 2 networks (Arbitrum, Optimism, Loopring, ZKSync, etc), are not interoperable with each other. You can store your tokens on any specific L2 network, but they're stuck there. If you want to move your tokens back to Layer 1 or to another L2 network, you have to pay very expensive smart contract gas fees ($50-300). Eventually, there will be bridges between these networks, but we could be years away from widespread adoption. > > Fragmented liquidity is another huge issue. Each of these L2 networks has its own liquidity pool for each token it supports. You can store your token on the the L2 network, but you won't be able to trade or swap much if there are no liquidity pools for that token. Eventually, there will be Dynamic Automated Market Makers (dAMMs) that can share liquidity between networks, but they are complex and introduce their own weaknesses. > > Both Optimistic and ZK Rollups are handled off-chain and require a separate network nodes or smart contracts as infrastructure to validate transactions or generate ZK Proofs. They are very centralized in how they operate, so there's always the risk that their network operators could cheat their customers. By now, the community seems to agree that ZK rollups are the future rollup solution to decentralized L2 networks. There is only 1 notable instance of Plasma (Ethereum to Polygon network conversion), and no one uses it anymore since the Ethereum-Polygon bridge is easier to use. The biggest competitor to ZK rollups are Optimistic rollups, and those take too long to settle back to Layer 1 (1 week) and are still too expensive to use (20-50% of the cost of L1 Ethereum gas fees for transfers). > > **ZK Rollups** require special infrastructure to generate ZK Proofs. These are very computationally-expensive, potentially [thousands of times](https://vitalik.ca/general/2021/01/05/rollup.html) more expensive that just doing the computation directly. To reduce the cost, they are done completely-centralized by specialized servers. Thus the cost of a ZK Rollup is cheap at about [$0.10 to $.30](https://l2fees.info/). But even at $0.10 per transfer and $0.50 per swap, these are still at least 10x more expensive than costs on Algorand and Solana. Users will have to decide whether the extra cost and hassle of using an L2 platform is worth the extra security of settling on the more-decentralized and secure Ethereum L1 network. > > **Ethereum Proof-of-Stake merge is arriving later than competitors** (moderate): > > The ETH PoS Beacon chain has been released, it's a completely separate blockchain from ETH and won't merge with the main blockchain [until later this year](https://decrypt.co/78690/ethereum-2-staking-tops-21-billion-merge-horizon), giving its competitors plenty of time to provide FUD. We still don't know how successful the merge will be. Currently, stakes are locked, preventing investors from selling. We don't know what will happen to the price once staking unlocks. > > **MEV and Dark Forest attacks** (minor): > > [MEV](https://np.reddit.com/r/MPlankton/comments/rs4wp2/the_dark_forest_of_cryptocurrency/) is actually a pretty big issue for networks with high gas arbitrage and mempools like Ethereum, but most casual users will never notice hostile arbitrage. When you broadcast your transaction to the network, there are armies of bots and automated miners that analyze your transaction to see if they can perform arbitrage strategies on your transaction such as front-running, sandwiching, excluding transactions, stealing/replaying transactions, and other pure-profit plays. "Dark Forest" attacks have reveled that bots are constantly monitoring the network, and they can front-run you unless you have your own private army of miners. > > **Final Word** > > Overall, I still think the PROs outweigh the CONs for Ethereum in the long-run due to its first-mover advantage and the long-term sustainability of the Ethereum network. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2luf/top_10_ethereum_conarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10vmhhb/daily_general_discussion_february_7_2023_gmt0/).

Commented by /u/CointestMod in /r/CryptoMarkets on February 7, 2023 08:31:00
/r/CryptoMarkets/comments/10w1syx/yes_i_have_received_two_eth_rewards_payments/j7khhql/

#Ethereum Pro-Arguments Below is an argument written by Maleficent_Plankton which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > # Background > > Ethereum is a **multi-layer smart contract ecosystem** that is currently migrating from Proof of Work to Proof of Stake: > > * Layer 1 - Consensus/Settlement layer > * Layer 2 - Execution/Rollup layer > > ## PROs > > **First-mover advantage** (major): > > Like Bitcoin, Ethereum enjoys a first-mover advantage. Being around longer than all other smart contract networks gives Ethereum a massive advantage in adoption, which leads to greater decentralization, security, liquidity pools, and app development. Because of the first-mover advantage, Ethereum easily trounces its competitors in security and popularity, and those competitors have little chance of catching up even though their virtual machines are more efficient than EVM. > > **Resilient to spam and Denial-of-Service attacks** (moderate): > > Due to high gas fees on the Ethereum network, it is extremely resistant to DDoS attacks and spam attacks. Ethereum is battle-tested and hasn't sufferred a major DDoS attack since 2016. > > Some of its competitors are still dealing with DDoS attacks. Every time the Solana network goes down from DDoS attacks, which have happened at least 6 times in the past year, there are huge complaints from the crypto community. You need a large amount of memory and bandwidth to keep up with fast networks like Solana. Similarly, Polygon suffered an unintentional DDoS attack from [Sunflower Farmers game](https://www.coindesk.com/tech/2022/01/06/polygon-under-accidental-attack-from-swarm-of-sunflower-farmers/) in Jan 6. For several days, bots ground the network to a halt. > > **Proof of Stake resistant to 51% attacks** (minor): > > * 51% attack (for PoS and PoW) can only revert or censor transactions. [It cannot be used to steal accounts.](https://thedefiant.io/vitalik-eth-cross-chain-bridges-security/). Every transaction has to result in a consistent state. > * With the exception of client bugs that can have unexpected and widespread effects, deterministic PoS networks are very resistant to reorg attacks since they can be immediately detected when a double-spend happens. Bad nodes will be immediately slashed and that double-spend will never go through. > > **Long-term scalability as a settlement layer** (major): > > Ethereum has long-term scalability through Layer 2 rollups. It can offload all its data bloat and computations off-chain. > > Many monolithic blockchains are fine for now, but they eventually all suffer from massive data bloat on their blockchains unless they also offload to Layer 2 solutions. When this happens, they will be playing catch-up with Ethereum. > > **Economic sustainability** (major): > > * Ethereum PoS is one of the ONLY networks that's expected to be deflationary due to its extremely-high fees. Ethereum PoW's amount of inflation is [now offset 35%](https://watchtheburn.com/) in Jun 2022 by the amount burned per transaction from EIP-1559. After the merge, the issuance is expected to drop 80%, making Ethereum PoS the first popular blockchain that will have **supply deflation** and become a positive-sum investment. > * In contrast, many other blockchains have enjoyed lower transaction fees by subsidizing network costs through charging investors with inflation. > * **Polygon PoS** distributes $400M in inflationary rewards annually but only collects $18M in fees. > * **Solana** collects only $40M in fees but gives away 100x that much ($4B) in rewards [[Source](https://polynya.medium.com/why-rollups-data-shards-are-the-only-sustainable-solution-for-high-scalability-c9aabd6fbb48)]. > * **Cardano** rewards stakers from a diminishing rewards pool that is on schedule to drop 90% in 5 years. > * **Bitcoin** pays miners with block subsidies (set to diminish by 99% in 30 years) that are 50-100x bigger than its transaction fees. When their subsidies disappear, unless they have major governance changes, these networks are either going to see much higher fees, or their security is going to decrease drastically. > * **Avalanche** has 10% inflation, and the [burn rate](https://burnedavax.com/) is 100x smaller than the issuance rate. > * **Algorand** pays from a staking reward pool [that disappears in 2030](https://algorand.foundation/governance/algo-dynamics). Its low transaction fees don't cover the cost of paying for validators and relay nodes. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/tuwvz5/top_coins_ethereum_proarguments_april_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoMarkets on February 7, 2023 08:30:51
/r/CryptoMarkets/comments/10w1syx/yes_i_have_received_two_eth_rewards_payments/j7khh6m/

* Relevant Cointest topics: [Cardano](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_cardano), [Algorand](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_algorand), [Solana](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_solana), [Polkadot](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_polkadot), [Cosmos](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_cosmos), [Proof of Stake](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_proof-of-stake). * Official and related subreddits: r/Ethereum, r/EthTrader, r/EthStaker, r/Cardano, r/Algorand, r/Solana, r/CosmosNetwork, r/Polkadot, r/Tezos. * Sort comments as controversial first by [clicking here](/r/CryptoMarkets/comments/10w1syx/yes_i_have_received_two_eth_rewards_payments/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoMarkets on February 7, 2023 08:30:43
/r/CryptoMarkets/comments/10w1syx/yes_i_have_received_two_eth_rewards_payments/j7khh5n/

Ethereum [pros](/r/CryptoMarkets/comments/10w1syx/yes_i_have_received_two_eth_rewards_payments/j7khhql/) & [cons](/r/CryptoMarkets/comments/10w1syx/yes_i_have_received_two_eth_rewards_payments/j7khibg/) and related info are in the collapsed comments below. Pros and cons will change for every new post. Submit a pro/con argument in the [Cointest](https://www.reddit.com/r/CointestOfficial/wiki/cointest_policy) and potentially win [Moons](https://coinmarketcap.com/currencies/moon/). Moon prizes by award for the Top Coins category are: **1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 1000.** --- To submit an ETH pro-argument, [click here](https://old.reddit.com/r/CointestOfficial/comments/tuwvz5/top_coins_ethereum_proarguments_april_2022/). | To submit an ETH con-argument, [click here](https://old.reddit.com/r/CointestOfficial/comments/tuww2u/top_coins_ethereum_conarguments_april_2022/).

Commented by /u/CointestMod in /r/CryptoMarkets on February 7, 2023 08:30:42
/r/CryptoCurrency/comments/10w1nqu/what_are_cbdcs/j7khgvq/

#CBDC Con-Arguments Below is an argument written by crua9 which won 3rd place in the CBDC Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > * It can be used to track people to a high degree > * A corrupt gov employee with access can wipe your account with no records. They can basically make it look like you were drunk buying/donating money. > * There is nothing really stopping the gov from making more out of thin air. > * It is possible that if a corrupt gov was involved, given people can make some money out of thin air and magically put it in given accounts. Since it isn't reported, if the gov wanted that new technology from another country. They can just buy it without it screwing with the economy > * It's possible for the tax system to not be fixed to make it easier, but go after normal people even more because this tracks near everything. > * The gov can pull money out of your account without you knowing or your permission. > * Getting people onboard will be a nightmare. Like getting some stores to have the ability to accept CBDC will cost a lot. > * You need an always online connection so the CBDC can update properly. Like so a trade can happen. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/v2jl0x/general_concepts_cbdc_conarguments_june_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_CBDC) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10vmhhb/daily_general_discussion_february_7_2023_gmt0/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 08:30:38
/r/CryptoCurrency/comments/10w1nqu/what_are_cbdcs/j7khgao/

#CBDC Pro-Arguments Below is an argument written by Nostalg33k which won 1st place in the CBDC Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > # Central Bank Digital Currencies (CBDC), what do they solve, why they are the best ? > > &#x200B; > > A Central Bank Digital Currency is NOT a game changer, most people already use "digital money" through their credit card. So the question everyone should ask is, "What do digital currencies solve?". Actually a loooot of problems. > > &#x200B; > > # 1) Money creation: From banks to Central banks, bring the power back to the state and not the profiteering industry. > > CBDC's if they replace normal currencies would not allow banks to lend money they don't have. This can be seen as a problem until you put inflation into the equation. Everyone is currently lambasting about inflation and money creation from the State BUT the fact is that money creation is done principally by private banks and not by the State. > > &#x200B; > > For one dollar in the banking system, they can lend up to 10 dollars with a fractional reserve. While we could believe in free markets before the ecological crisis we are living through and before the oil industry price gouged the population through the non-exploitation of government leases. Right now, a lot of industries are in need of government planning to switch from cheap energy relying on existing infrastructure to go towards renewables and new infrastructure. This planning require governments to have a better control of the economy. CBDC's can provide this control by controlling the credit industry. > > &#x200B; > > # 2) The extinction of trafic and tax evasion > > Another big aspect of CBDC's is their traceability. Through blockchain, it would be far easier to look for suspect transactions. This would kill the drug industry and allow to properly tax people. By taking control of the money supply and requiring a reason for each transactions, it would be far harder to have illegal activities and to evade the taxation system which provides for our governments, (roads, infrastructure, healthcare,...) > > # 3) Multiple specialized money. > > Governments aiming to plan their economies in a better way would be able to introduce different currencies. For example, welfare could be given in a money that is specialized toward food or rent. While intrusive this would allow certain sectors of the economy to be excluded from the free market. > > # 4) Data collection, Instant transactions and practical. > > CBDCs if they don't replace cash as a whole still provide an important service to our societies and should replace digital transactions currently done with your account balance. If they are backed by a blockchain using DAG or an infrastructure allowing for instant transaction, they can be very practical and allow us to have a better understanding of spending. With implementation of anonymisation of the data, we could give this date to different economist and other planners to understand how we can provide better services and better goods to people. > > &#x200B; > > # 5) A good introduction to Cryptocurrency, wallet management and other aspects of the digital economy. > > CBDCs can be a very good pedagogic tool to help people realize that their currencies can be exist on a blockchain. If the wallet is compatible with Meta-mask and other wallet managers , then it could help people to use crypto related software. They could even be signing smart contracts and swap their coins. > > &#x200B; > > # 6) Technical side, a diversity of possibilities all which their advantages and problems. > > &#x200B; > > On the more technical aspect of CBDCs, there is a large diversity of possibility because each central bank can have their own design. > > An example can be the Bank of England: [The CBDC Project in the UK](https://www.bankofengland.co.uk/research/digital-currencies#:~:text=to%20contact%20us-,What%20is%20central%20bank%20digital%20currency%3F,a%20computer%20or%20similar%20device) > > The Bank of England's CBDC would co-exist with cash. While this page doesn't explain the technical side, one can be surprised that they don't seem to be looking at the blockchain technology as [their paper on New forms of money](https://www.bankofengland.co.uk/paper/2021/new-forms-of-digital-money) shows. > > The world blockchain is only mentioned when discussing the possibility to regulate stablecoins. > > &#x200B; > > One could ask what is the point of this CBDC since wire transfers exist:"What Is a Wire Transfer? > A wire transfer is an electronic transfer of funds via a network that is administered by banks and transfer service agencies around the world. Wire transfers involve a sending and receiving institution and require information from the party initiating the transfer, such as the receiver's name and account number. > Wire transfers don't actually involve the physical exchange of cash but are settled electronically."[Source](https://www.investopedia.com/terms/w/wiretransfer.asp#:~:text=Wire%20transfers%20involve%20a%20sending,cash%20but%20are%20settled%20electronically) > > # Conclusion: > > CBDCs are the best for the current era, we need to be able to plan the economy and to fight turbulences while we resolve the chalenges of the era. The only question, as shown by the UK proposition of a CBDC is: Will the governments be able to leverage the CBDCs. CBDCs are cool if we accept a bit of intrusion in our financial lives. They could provide a way to stop trafics and to do financial planning, to introduce multiple specialized currencies and many other points. > > &#x200B; > > These should be introduced through referendums with a very high threshold for the decision to be made (60 or 70%) because they are societal changes that could radically change our world. > > &#x200B; > > Thank you for reading my post ! ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/v2jkzj/general_concepts_cbdc_proarguments_june_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_CBDC) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 08:30:30
/r/CryptoCurrency/comments/10w1nqu/what_are_cbdcs/j7khfkf/

CBDC {{pros}} & {{cons}} and related info are in the collapsed comments below. Pros and cons will change for every new post. Submit a pro/con argument in the [Cointest](https://www.reddit.com/r/CointestOfficial/wiki/cointest_policy) and potentially win [Moons](https://coinmarketcap.com/currencies/moon/). Moon prizes by award for the General Concepts category are: **1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 1000.** --- To submit an CBDC pro-argument, [click here](https://www.reddit.com/r/CointestOfficial/comments/t5mmqi/general_concepts_cbdc_proarguments_march_2022/). | To submit an CBDC con-argument, [click here](https://www.reddit.com/r/CointestOfficial/comments/t5mmr7/general_concepts_cbdc_conarguments_march_2022/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 08:30:19
/r/CryptoCurrency/comments/10w1nqu/what_are_cbdcs/j7khfmm/

* Relevant Cointest topics: [Ripple](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_ripple), [Stellar](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_stellar), [Tether](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_tether), [Regulation](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_regulation). * Relevant subreddits: r/FederalReserve, r/Ripple, r/Stellar. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/10w1nqu/what_are_cbdcs/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 08:30:19
/r/CryptoCurrency/comments/10w1q14/algorand_foundation_declares_huge_collaborations/j7khfe9/

#Algorand Con-Arguments Below is an argument written by Nostalg33k which won 2nd place in the Algorand Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > # Algo: You can't be a passive investor. > > There is a strong problem with Algo. People with huge portfolios can't be active investors. Governance rewards are diluting the token by minting rewards for those who partake in governance => then people not partaking on governance are losing value. > > If you want to invest in Algo without staking and without partaking on governance, you'll be losing ground. You'd need a hefty amount of growth to compensate. > > While Algo is a good project overall, the fact that it is not friendly as an investment towards people just wishing to mindlessly hodl shows a big problem for the future of the coin. > > For people wishing to invest without thinking too much about it, they should go towards BTC and other coins. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/sifdb5/coin_inquiries_algorand_conarguments_february_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Algorand) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10vmhhb/daily_general_discussion_february_7_2023_gmt0/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 08:30:16
/r/CryptoCurrency/comments/10w1q14/algorand_foundation_declares_huge_collaborations/j7khf20/

#Algorand Pro-Arguments Below is an argument written by Isulet which won 3rd place in the Algorand Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Algorand > > Algorand is a decentralized blockchain network that is very popular due to its low fees and fast transactions. However, there is more to Algo than meets the eye. There are many positives about Algo which could make it one of the top cryptocurrencies. Let’s take a look. > > Accelerated Vesting > > Generally when accelerated vesting is mentioned, it is as a con. People see it as bias towards early backers/node runners, price suppression, and unequal distribution. However, I would argue that it instead created a healthy price and environment for the creation of an internet currency. Volatility is a word often heard with cryptocurrency and this program was put in place as a way to minimize that threat. Supply was just too big for the state of adoption at the time. The supply was planned to be released over five years as follows: Year 1 (2020) 3% (for a total of 17%, as relay nodes had already received 14% of their total share at this point) Year 2 (2021), 8% (for a total of 25%) Year 3 (2022), 25% (for a total of 50%) Year 4 (2023), 35% (for a total of 85%) Year 5 (2024), 40% (for a total of 125%). The extra 25% was a reward for those running the relay nodes/early backers. This release could be “accelerated” (hence accelerated vesting) based on the price of Algo when it reached all time highs over a 30 day average. While this did keep the price down, it created healthy movement of the price and kept it predictable, making it much more usable as an internet currency with organic price growth rather than something with wild fluctuations. It also incentivized the running of the blockchain through the relay nodes (We will get into this next). Regardless of a person’s opinion on accelerated vesting, it is a bit moot at the moment because accelerated vesting is finished. Algorand Foundation announced on October 5th that the supply had been distributed through the accelerated vesting program and the remainder of the locked supply of the original 10 billion minted would be released through governance. So the argument about price suppression and all that is not really relevant anymore though the early ending of the program. > > Relay Nodes > > I mentioned the relay nodes earlier as they help run the Algorand blockchain and were incentivized to do so. They are under contract to continue until 2024. They serve as network hubs and communicate with other nodes/other types of nodes (participation nodes). The relay nodes decongest the system and help keep it fast and efficient. A problem often mentioned with the relay nodes is with perceived centralization. Algorand Foundation picked companies, universities, and other early backers to run the relay nodes and keeps a list of them. This is seen as centralized by many and therefore they think it goes against the image algorand portrays. This is basically a misconception because the blockchain is run by the participation nodes, which then relay their decisions through the relay nodes. The participation nodes are indeed decentralized and permissionless, thus staying true to the image Algo wishes to portray. > > PPOS > > PPOS, or Pure Proof of Stake is what algorand operates on, as opposed to POW which is what bitcoin and some other cryptos operate on. POW has a huge downside of not being environmentally due to the massive amounts of energy needed to solve the complex problems that secure the network. Miners working for a POW blockchain could also manipulate the system should there be enough of them (51% attack). Algo operating under a PPOS system randomly selects an algo holder which validates the blocks/transactions and it is easily verifiable. By randomly distributing the tasks in a secret manner and having verifiability, the network is secured. (If you’re interested check out https://people.csail.mit.edu\/nickolai/papers/gilad-algorand-eprint.pdf > For more information about the “Byzantine Agreement”. They go into detail here and it is pretty cool.) > > Staking Rewards > > Currently, Algo offers staking rewards. This is different from other cryptos because there is no need to lock up your algo. Holding algo lets you automatically stake it. This is very attractive for beginners due to its ease of use. Holders love it as well because they accumulate more algo. Traders like it because of the lack of lock up and so can still stake while also trading when necessary. While this will end and governance rewards will take its place, it is a very appealing program for the time being. > > Governance > > As mentioned, governance will replace staking rewards. Governance is a great part of algo where you commit a certain amount of your algo for a quarter (3 months) and if you hold the amount you commit and vote on all proposals you are rewarded with a high apy%. This program encourages holding, allows for community participation, helps with decentralization, and rewards holders of algo. > > Speed and Fees > > I won’t spend much time here as these are the two points most holders know already. Algo blockchain has better scalability than other major blockchains like ethereum and can process a lot more transactions per second. THerefore it is much faster and that speed is very appealing to users. Fees are also very low with Algo, in stark contrast to high gas fees from Ethereum. > > Use Cases > > The stability of Algo allows it to be used as a digital currency very easily. But beyond using algo as a digital currency, countries could easily use it to create their own Central Bank Digital Currencies (CBDC) such as like the Marshal Islands is doing with Algo and China with the Digital Yuan. Algorand is well suited for this due to measures put in to decrease inflation and low transaction fees. FINTECH and DEFI are also popular use cases for Algo with tokens like Opulous benign released on Algorand for decentralized finance for musicians and artists. Algo is also getting in on the NFT craze and other trends in crypto. > > Developer Team > > Algorand was created by Silvio Micali and his team of professors, CEOs, and other high minded individuals. Silvio himself is a professor at MIT and highly notable in his field. This vetted and well acknowledged team lends support to Algo because it can be trusted due to those who created it and it is seen as a high quality product. ‘ > > Conclusion. > > Algorand is more than just a fast and low cost crypto. It is everything crypto investors want; it is decentralized, it is stable, organic, and affordable, it operates in a way that helps to prevent attacks and cheating, it rewards users and allows for community participation, and it has many use cases. It is a solid crypto and investment and should be considered by anyone in the crypto sphere. ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/ovmttc/rcc_cointest_coin_inquiries_algorand_proarguments/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Algorand) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 08:30:11
/r/CryptoCurrency/comments/10w1q14/algorand_foundation_declares_huge_collaborations/j7khequ/

* 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), [Proof of Stake](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_proof-of-stake). * Relevant subreddits: r/Algorand, r/AlgorandOfficial, r/Ethereum, r/Cardano, r/ProofOfStake. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/10w1q14/algorand_foundation_declares_huge_collaborations/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 08:30:07
/r/CryptoCurrency/comments/10w1q14/algorand_foundation_declares_huge_collaborations/j7kheou/

Algorand [pros](/r/CryptoCurrency/comments/10w1q14/algorand_foundation_declares_huge_collaborations/j7khf20/) & [cons](/r/CryptoCurrency/comments/10w1q14/algorand_foundation_declares_huge_collaborations/j7khfe9/) and related info are in the collapsed comments below. Pros and cons will change for every new post. Submit a pro/con argument in the [Cointest](https://www.reddit.com/r/CointestOfficial/wiki/cointest_policy) and potentially win [Moons](https://coinmarketcap.com/currencies/moon/). Moon prizes by award for the Coin Inquiries category are: **1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 1000.** --- To submit an Algorand pro-argument, [click here](https://www.reddit.com/r/CointestOfficial/comments/sifd8p/coin_inquiries_algorand_proarguments_february_2022/). | To submit an Algorand con-argument, [click here](https://www.reddit.com/r/CointestOfficial/comments/sifdb5/coin_inquiries_algorand_conarguments_february_2022/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 08:30:06
/r/CryptoCurrency/comments/10w1f5k/binance_charity_turkey_earthquake_relief_direct/j7kfqhh/

#Binance Coin Con-Arguments Below is an argument written by Tritador which won 3rd place in the Binance Coin Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > If I were a big cryptocurrency company that wanted to make money off of cryptocurrency inventors, the first thing I would do is create my own crypto. Then, I would give investors all kinds of incentives to accumulate and use it. Then, I would use the money they paid me to buy myself lots and lots of real crypto. > > Enter Binance and its beloved Binance Coin (BNB). > > Somewhere along the line, the world forgot that the coolest aspect of cryptocurrency is that the currency is decentralized. Not just digital, but actually decentralized. If all the crypto-universe cared about was digital money, we have that already. We swipe plastic cards to buy things, and signals get sent on the internet to move electrons around between bank computers. > > A centralized coin created and maintained by a cryptocurrency exchange is hardly any different than any other company letting you buy, use and trade digital points, be it Reddit, Roblox, or even your latest Amazon gift card you deposited in your Amazon account. > > BNB is a travesty simply due to what it is. Any utility or value the coin has stems entirely from the uses Binance creates for it, which means the value of the coin can easily be driven by factors other than actual investor interest and prices in order books. > > Instead of buying intermediate "crypto" created by an exchange, why not use that exchange to buy real crypto? ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2lzs/top_10_binance_coin_conarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin=) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10vmhhb/daily_general_discussion_february_7_2023_gmt0/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 08:15:22
/r/CryptoCurrency/comments/10w1f5k/binance_charity_turkey_earthquake_relief_direct/j7kfpxc/

#Binance Coin Pro-Arguments Below is an argument written by Blendzi0r which won 1st place in the Binance Coin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > First published on: [24.09.2021](https://www.reddit.com/r/CryptoCurrency/comments/og29w6/comment/he4x6yb/?utm_source=share&utm_medium=web2x&context=3) > > Last edited on: 15.06.2022 > > # Intro > > Binance Coin (BNB) was launched in July 2017 and it was initially an ERC-20 token on Ethereum. In April 2019, it moved to its own blockchain called Binance Chain. Today, it operates on two blockchains, the other one being Binance Smart Chain. The coin is issued, developed and maintained by the biggest cryptocurrency exchange – Binance. > > # Pros > > **IT IS BACKED BY BINANCE** > > Binance Coin is maintained by Binance, a cryptocurrency giant. Binance is currently the biggest cryptocurrency exchange in the world. Its transaction volume is [roughly 6 times higher](https://www.statista.com/statistics/864738/leading-cryptocurrency-exchanges-traders/) on average than that of Coinbase. Binance makes sure that BNB finds more and more utility within their ecosystem. > > Backing of such a massive company should give investors a lot of confidence even though Binance is lately under an intensified regulatory scrutiny. But the company declares that it is doing its best to comply with all the regulations. They're working on a stricter KYC and they’re also expanding the legal and compliance teams by hiring many experts in the field. > > The co-operation between Binance and regulators was demonstrated when the exchange [limited its services for people from Russia](https://www.binance.com/en/support/announcement/4887e569afdf4b1e89e024371d3a49b9). > > **IT GIVES YOU DISCOUNTS ON BINANCE** > > One of the reasons why Binance is so popular is the fact that their [transaction fees are among the lowest](https://www.binance.com/en/support/faq/115000583311). Users pay just 0.1% for most popular types of trades, whereas on e.g. Coinbase (Pro) it’s 5 times more – [0.5%](https://help.coinbase.com/en/pro/trading-and-funding/trading-rules-and-fees/fees). One of the benefits of BNB is making those fees even lower – by as much as 25%. **Using BNB to pay for transaction fees can save you up to 1/4 of your money** on transactions. It’s a big incentive to hold some BNB. > > **IT IS DEFLATIONARY** > > In 2021, Binance implemented two important changes to BNB burning mechanism. > > First, [Bruno Upgrade v1.1.5](https://www.binance.org/en/blog/binance-smart-chain-bruno-upgrade-v1-1-5/) took place on 30 November. It introduced real-time burning mechanism. It is similar to [ETH London Upgrade](https://medium.com/@eric.conner/fixing-the-ethereum-fee-market-eip-1559-9109f1c1814b) \- some of the gas fee collected by validators is burned. As of 15 June 2022, [more than 90 000 BNB were burned](https://twitter.com/BurnBNB). > > Furthermore, on 23 December 2021, Binance announced and implemented **BNB** **Auto-Burn** protocol. It replaces quarterly burns which were based on the profits Binance made (they committed 20% of their profit to buy back BNB and then burn it. There were [17 quarterly burns](https://www.binance.com/en/blog/ecosystem/17th-bnb-burn-%7C-quarterly-highlights-and-insights-from-cz-421499824684902908)). Now, the process is automated, which makes it more transparent and predictable. The core idea has not been changed, however, the process will stop when the number of BNB coins in circulation is lower than 100 million. > > **MANY TRADING PAIRS, STAKING, FARMING AND OTHER USES** > > As an official coin of Binance, BNB also offers a **multitude of trading pairs**. All transactions made with BNB are lightning **fast and secure** since it’s based on one of the most secure blockchains – Ethereum. > > There are also many options of **staking** BNB on Binance for a very good APY or participating in **Launchpools** (farming new tokens) and **Launchpads** (Initial Exchange Offerings (IEO) - buying new tokens). > > BNB is **accepted by some service providers**, e.g. HTC, trip.io, travala.com, BitTorrent or PureVPN. > > Last but not least, BNB can be used to convert “leftovers”. Very often when you sell a coin, a very small amount of it is left in your wallet. On Binance, you can **convert small amounts of coins** (called “dust”) into BNB. > > **TWO BLOCKCHAINS THAT WORK SIMULTANEOUSLY** > > BNB operates on two chains, the above mentioned **Binance Chain** and **Binance Smart Chain** (BSC) which was launched in September 2020. While Binance Chain is responsible for transactions made on Binance DEX, BSC was designed specifically for smart contracts, DeFi and dApps. It quickly became **one of the biggest blockchains**. It is compatible with Ethereum allowing other projects to transfer easily from ETH to BSC and escape high gas fees on ETH. > > This dual blockchain approach combined with the **Proof of Staked Authority** consensus algorithm (a mix of share proof and authority proof) makes it much more scalable than Ethereum and enables faster and cheaper transactions. While Ethereum runs around 9 000 nodes/validators (before the software bug back in the end of August 2021), BSC needs only 21 validators. > > It is also worth pointing out that Binance allocated $100 million for projects that launch on BSC. > > **DECENTRALIZATION AT ALL COST?** > > The main argument against BNB is that it is centralized. And it’s impossible to deny the fact that BNB indeed is centralized compared to Ethereum and many other projects. But every stick has two ends. This is what Changpeng Zhao, Binance CEO, has to say about (de)centralization: > > [Many people think of decentralization as absolute; you are either decentralized or not. I think that in reality, there is a gradient scale from centralization to decentralized. Often, a better question is: how decentralized should we (exchanges, societies) be, now and in the future? If decentralization simply increases freedom but decreases security and ease-of-use, there is a point where it becomes a net negative, and may not be worth it.](https://www.binance.com/en/blog/from-cz/cz-on-centralization-vs-decentralization-301982828007075840) > > If decentralization is also about freedom of choice, then maybe being able to choose a centralized blockchain(s) should be accepted. > > \_\_\_\_\_\_\_\_\_\_\_\_\_\_ > > **^(Additional sources:)** > > [^(https://www.binance.com/en/bnb#COIN-BURN)](https://www.binance.com/en/bnb#COIN-BURN) > > [^(https://www.binance.com/en/bnb#BNB-RIGHT)](https://www.binance.com/en/bnb#BNB-RIGHT) > > [^(https://www.binance.com/en/support/announcement/2af5831727164545b8a2c665fae8bc04)](https://www.binance.com/en/support/announcement/2af5831727164545b8a2c665fae8bc04) > > [^(https://finance.yahoo.com/news/binance-coin-bnb-why-interesting-110049570.html)](https://finance.yahoo.com/news/binance-coin-bnb-why-interesting-110049570.html) > > [^(https://www.investopedia.com/terms/b/binance-coin-bnb.asp)](https://www.investopedia.com/terms/b/binance-coin-bnb.asp) > > [^(https://trading-education.com/pros-and-cons-of-investing-in-binance-coin)](https://trading-education.com/pros-and-cons-of-investing-in-binance-coin) > > [^(https://guarda.com/academy/blockchain/what-is-binance-smart-chain/?utm\\source=Reddit&utm\_medium=Social&utm\_campaign=CryptoCurrency-BSC-article)](https://guarda.com/academy/blockchain/what-is-binance-smart-chain/?utm\source=Reddit&utm_medium=Social&utm_campaign=CryptoCurrency-BSC-article) > > [^(https://www.finextra.com/blogposting/20815/binance-and-regulatory-scrutiny-changing-times-for-the-crypto-market)](https://www.finextra.com/blogposting/20815/binance-and-regulatory-scrutiny-changing-times-for-the-crypto-market) ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/tuwtz9/top_coins_binance_coin_proarguments_april_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin=) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 08:15:14
/r/CryptoCurrency/comments/10w1f5k/binance_charity_turkey_earthquake_relief_direct/j7kfp9m/

Binance Coin {{pros}} & {{cons}} and related info are in the collapsed comments below. Pros and cons will change for every new post. Submit a pro/con argument in the [Cointest](https://www.reddit.com/r/CointestOfficial/wiki/cointest_policy) and potentially win [Moons](https://coinmarketcap.com/currencies/moon/). Moon prizes by award for the Top Coins category are: **1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 1000.** --- To submit a Binance Coin pro-argument, [click here](https://old.reddit.com/r/CointestOfficial/comments/tuwtz9/top_coins_binance_coin_proarguments_april_2022/). | To submit a Binance Coin con-argument, [click here](https://old.reddit.com/r/CointestOfficial/comments/tuwu8i/top_coins_binance_coin_conarguments_april_2022/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 08:15:05
/r/CryptoCurrency/comments/10w1f5k/binance_charity_turkey_earthquake_relief_direct/j7kfpaj/

* 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), [Proof of Stake](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_proof-of-stake) * Relevant subreddits: r/Algorand, r/AlgorandOfficial, r/Ethereum, r/Cardano, r/ProofOfStake. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/10w1f5k/binance_charity_turkey_earthquake_relief_direct/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 08:15:05
/r/CryptoMarkets/comments/10w1762/the_crypto_comms_40_bitcoin_litecoin_meet/j7ke8rj/

#Litecoin Con-Arguments Below is an argument written by DaddySkates which won 3rd place in the Litecoin Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > When LTC released, everyone was talking about it. In some time people started the saying about “LTC is the silver to BTC gold”. And frankly it used to be true. > > Nowadays people rarely talk about LTC anymore.. and when they do its in the connection with its founder selling his holdings at absolute ATH which made people run away from LTC not trusting them again. BTC is leader-less for a reason. > Satoshi knew that it will be more successful without a founding father. And its true. > > LTC isnt going to be “killed” by the lack of technology. Its because of the poor decisions that their leader dod without any care for the projects future. ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/ovmtst/rcc_cointest_coin_inquiries_litecoin_conarguments/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Litecoin) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10vmhhb/daily_general_discussion_february_7_2023_gmt0/).

Commented by /u/CointestMod in /r/CryptoMarkets on February 7, 2023 08:01:30
/r/CryptoMarkets/comments/10w1762/the_crypto_comms_40_bitcoin_litecoin_meet/j7ke874/

#Litecoin Pro-Arguments Below is an argument written by metnavman which won 1st place in the Litecoin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > *Full Disclosure* > > *I sold my position in LTC this year during the last run-up to the ~$300s. Prior to that, I'd held a triple-digit position in LTC since ~2013. I did make money from this coin. That is only because of my time in the market, and not any particular strength of the coin in question. Truth be told, I'd have made more money being in other positions, so it is irrelevant. Perhaps I'll regret it one day. Perhaps not.* > > &nbsp; > > * LTC is one of the "OG" coins. [As a fork of the Bitcoin protocol, it's been around almost as long.](https://www.investopedia.com/terms/l/litecoin.asp) It is a very secure coin, and utilizes [Proof of Work](https://www.investopedia.com/terms/p/proof-work.asp) through Scrypt to maintain that security. > > * This "early mover" advantage has allowed LTC to catapult into some very strong positions and use cases. I'd personally put it's [uses on the Paypal platform](https://www.paypal.com/us/smarthelp/article/what-do-i-need-to-know-about-litecoin-faq4401) as one of it's strongest positions in the current financial zeitgeist. [There are certainly lots of others.](https://www.reddit.com/r/litecoin/comments/csfixo/1100_companies_and_stores_accepting_litecoin_as/). > > * LTC is arguably the strongest PoW coin available. It is faster than BTC, cheaper to use, and available for use basically everywhere relevant that BTC is. As far as trading platforms and "on-ramps" for converting fiat currency into cryptocurrency, LTC will get you where you want to go. While it is not worth as much as BTC, it's far more capable for doing what a cryptocurrency is "supposed" to do. Ya know, be a currency that doesn't cost silly amounts of fees to use and take forever to confirm. > > * LTC's development team is currently working on implementing [Mimblewimble](https://www.mycryptopedia.com/mimblewimble-explained/) capabilities to the coin. The quick and dirty for that is adding a "privacy feature" to LTC, as well as potentially solving scalability issues that could crop up one day if usage of the coin were to exponentially increase. Development is ongoing in 2021, and viability/efficacy is not fully determined as of this writing. > > * LTC follows the same [halving](https://stormgain.com/blog/litecoin-ltc-halving) protocol as BTC. This has correlated to price increases for the coin in a similar fashion to BTC after each of these "cycles". It stands to reason that LTC should see another price increase in the 2024-2025 time-frame, coinciding with the next halving [set to occur in Q3 2023](https://litecoinblockhalf.com/). There's math and wrinkly-brain reasons for why it takes some time for the halving process to reflect in the market price. You'd have to go searching; I don't really understand it. There's a shiny graph on that link I put. Have fun. > > &nbsp; > > ==*The rest of this will lean in the opposite direction of the guidelines set forth for this argument. Past this point, you're entirely in the realm of my opinion/experience as a crypto holder/trader since the early 2010s. Do your own research.*== > > &nbsp; > > * I would stress that you proceed to [the LTC "Cons" portion of these arguments](https://old.reddit.com/r/CryptoCurrency/comments/n5vbyk/pro_contest_litecoin_conarguments/) after finishing here and read what I've written there as well. My goal is to remain as unbiased as possible for these write-ups, and I will speak only to the positives of LTC in this thread. I encourage you, the reader, to view both sides and make an educated decision before investing in *any* crypto asset. > > * LTC offers a "tried and trusted" investment platform. If there was a stock to compare LTC to, it's the massive ETF or mutual fund that people put money into year after year and reliably draw a profit from. You will not see the insane fireworks of a DOGE pump, or the rug-pull of a [BITCONNEEEEECT](https://thenextweb.com/news/bitconnect-bitcoin-scam-cryptocurrency) when you put your money into LTC. You will get an investment that "should" make you money in the long run, and potentially set you up for some really solid gains in the future. > > * LTC is not the behemoth that BTC is within the crypto space. The intimidation that comes from the price-tag that BTC sometimes wields ($37K to own one coin at the time of this writing, 60K+ attained) can be a turn-off for the smaller investor still interested in owning a "full coin". While this mindset is considered by veterans within the space to be somewhat naive and counterproductive, it is a psychological aspect that affects many projects within crypto. LTC's ability to allow someone to jump in at a much lower price point and still feel like their investment is "effective" is certainly a strength. > > * LTC has been picked up in the 2021 bull-run by [large institutional entities](https://news.bitcoin.com/grayscale-adds-174000-ltc-to-its-litecoin-holdings-price-of-the-altcoin-unresponsive/), signalling some confidence in it's ability to generate income in some fashion for shareholders/investors. It remains to be seen how this action will play out, as the events are too closely aligned with the large correction in late May 2021 before the coin could pick up steam. [It briefly touched a high-300s price-tag](https://currency.com/litecoin-price-prediction-2021), and many of LTC's supporters believe that it was aiming to go higher before the entire market dropped. > > &nbsp; > > LTC has carved out a solid niche for itself over the years, and a loyal base that wants to see it succeed. As with any investment into a volatile market like crypto, there's a good chance you could lose some money. That said, I would put the chances of it happening with LTC over the long run at a smaller percentage than some of the more risky or "unreliable" projects in the space. If you have patience and are looking for a low-stress coin with some realistic use cases and a good track record for ease-of-use and operability within the crypto-world, LTC may be the coin for you! ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/ovmtt5/rcc_cointest_coin_inquiries_litecoin_proarguments/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Litecoin) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoMarkets on February 7, 2023 08:01:22
/r/CryptoMarkets/comments/10w1762/the_crypto_comms_40_bitcoin_litecoin_meet/j7ke7nf/

Litecoin [pros](/r/CryptoMarkets/comments/10w1762/the_crypto_comms_40_bitcoin_litecoin_meet/j7ke874/) & [cons](/r/CryptoMarkets/comments/10w1762/the_crypto_comms_40_bitcoin_litecoin_meet/j7ke8rj/) and related info are in the collapsed comments below. Pros and cons will change for every new post.

Commented by /u/CointestMod in /r/CryptoMarkets on February 7, 2023 08:01:13
/r/CryptoMarkets/comments/10w1762/the_crypto_comms_40_bitcoin_litecoin_meet/j7ke7o3/

* Relevant Cointest topics: [Bitcoin](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_bitcoin), [Proof of Work](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_proof-of-work). * Relevant subreddits: r/Litecoin, r/LitecoinMarkets, r/LitecoinMining, r/GPUmining, r/Bitcoin. * Sort comments as controversial first by [clicking here](/r/CryptoMarkets/comments/10w1762/the_crypto_comms_40_bitcoin_litecoin_meet/j7ke6jo/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoMarkets on February 7, 2023 08:01:13
/r/CryptoMarkets/comments/10w1762/the_crypto_comms_40_bitcoin_litecoin_meet/j7ke73x/

#Bitcoin Pro-Arguments Below is an argument written by Nostalg33k which won 1st place in the Bitcoin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Writing a Pro argument for Bitcoin in 2022 seems complicated because everything has been said... or did it? > > Edit: I have a small bag of Bitcoin currently valued around 600 bucks. I am also invested in crypto around 2000 bucks which are always moving when Bitcoin is moving. Financial disclosure should be mandatory in these arguments =) > > # Bitcoin is the king of POW: Why it matters and why we need a strong Bitcoin > > So as the title suggests it, the recent news from Ethereum switching from POW to POS makes Bitcoin the sole serious POW cryptocurrency. In this write up, we are going to discuss the three main strength of Bitcoin, security, decentralization, and incentive for green energy production. In this write up we are not going to talk about speculation or the financial side of Bitcoin. Bitcoin is a highly liquid asset and has become nearly universally known as an investment. Many arguments have been made in favor of Bitcoin as an investment and if you want to read one, just go to past cointests. > > &#x200B; > > Of course, the main feature of Bitcoin is the Permissionless aspect. This won't be tackled at all as I think it deserves its own topic. > > &#x200B; > > # 1) Bitcoin: High security > > This topic has also been talked to death: Bitcoin is ultra secure thanks to its Blockchain and the way it is verified through proof of work. To explain this let me quote IBM: > > &#x200B; > > >Public blockchain networks typically allow anyone to join and for participants to remain anonymous. A public blockchain uses internet-connected computers to validate transactions and achieve consensus. Bitcoin is probably the most well-known example of a public blockchain, and it achieves consensus through "bitcoin mining." Computers on the bitcoin network, or “miners,” try to solve a complex cryptographic problem to create proof of work and thereby validate the transaction. Outside of public keys, there are few identity and access controls in this type of network. > > > >[IBM on Blockchain security](https://www.ibm.com/topics/blockchain-security) > > &#x200B; > > Mining is measured in Hashrate. Here is the explanation of Hashrate: > > >Hash rate, sometimes referred to as hashrate, is a measure of the computing power on a cryptocurrency network that serves as a key security indicator. It measures the total computational power used by a “proof-of-work” (POW) cryptocurrency network to process transactions in a blockchain. > > > >[USNEWS explains hashrate](https://money.usnews.com/investing/term/hash-rate#:~:text=Hash%20rate%2C%20sometimes%20referred%20to,process%20transactions%20in%20a%20blockchain) > > &#x200B; > > So if the hashrate measures the security of the network, one may asks themselves: "Did the security of Bitcoin slowed when the price fell ?" > > [The hashrate is at an ATH and growing making Bitcoin more and more secure as it continues to build over time](https://ycharts.com/indicators/bitcoin_network_hash_rate#:~:text=Basic%20Info,101.2%25%20from%20one%20year%20ago) > > &#x200B; > > So Bitcoin has never been as secure as it is today which makes it ultra valuable as a way to settle financial transactions. Yes holding Bitcoin for a long time is risky but using it as a medium to settle international transaction may currently be the securest and one of the best way to do so. > > While Bitcoin is safe... what if a big part fails ? > > &#x200B; > > # 2) Bitcoin mining: Too big to fail. > > &#x200B; > > So this write up could be seen as a POW write up, which it is to an extent. But Bitcoin offers its history and shows that it can survive the disparition of a big part of the network. > > Decentralization allows for parts of the network to disappear and for the rest to take the mantle of securing the network. Yes, mining pools may grow too large for their own sake BUT in the end (nothing even matters) Bitcoin is heavily decentralized. It is so decentralized that, when China (which had a big part of Bitcoin mining) banned mining, Bitcoin just went through like nothing happened. Yes the hashrate fell a bit, the value too, but if we look back, it was nothing extraordinary. > > &#x200B; > > So if Bitcoin is highly secure and if it can survive part of the hashrate going bye bye, what makes it so good? What is the difference with any POW Cryptocurrency right now? > > &#x200B; > > # 3) Bitcoin: propping up the green energy sector. > > &#x200B; > > POW uses energy. One of the biggest concern about POW is the energy. While Ethereum was using GPUs and was asic resistant. Bitcoin mining is built differently. A long time ago, under oath, people discussed the environmental impact of Bitcoin Mining and I made a post explaining what was said: > > &#x200B; > > >The Energy Fud Was Killed > > The most important thing that happened: The narrative that Bitcoin is too energy intensive was totally reversed. > > Experts of the sector explained that, Wind Farms and Solar Farms, have a variable load. This variable load means that sometimes they lose money because they produce too much and there is not enough demand. Bitcoin mining provides a variable base load for these projects. What it means is that, mining can be turned on and off depending on demand. It was revealed that most of these wind and solar farms would simply not exist without Bitcoin Farming as baseline customers. > > There are still miners that are using coal plants and fossil fuel but the leaders of the industry are developing in tandem with the green energy sector. > > >[My post](https://www.reddit.com/r/CryptoCurrency/comments/s99phv/yesterday_one_of_the_most_bullish_events_ever/) > > &#x200B; > > # Conclusion: Bitcoin is the flagship of POW and it is a feature not a bug. > > Bitcoin, thanks to its value and tokenomics is seen as a good investment, this is also why miners commit huge amount of ressources to take the hashrate to new heights. These miners help the US grid to become more and more resilient. The future of Crypto and of green energy relies a lot on Bitcoin. Bitcoin has proven time and time again that it can shoulder these changes. Bitcoin is a good piece of technology and I hope people continue to invest in it because it is doing a lot of good for our future ! ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpui9i/top_coins_bitcoin_proarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoMarkets on February 7, 2023 08:01:04
/r/CryptoMarkets/comments/10w1762/the_crypto_comms_40_bitcoin_litecoin_meet/j7ke6ly/

* Relevant Cointest topics: [Bitcoin Cash](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_bitcoin_cash), [Litecoin](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_litecoin), [Lightning Network](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_lightning_network), [Proof of Work](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_proof-of-work) * Official and related subreddits: r/Bitcoin, r/BitcoinMarkets, r/BitcoinMining, r/BTC, r/BitcoinCash. * Sort comments as controversial first by [clicking here](/r/CryptoMarkets/comments/10w1762/the_crypto_comms_40_bitcoin_litecoin_meet/j7ke6jo/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoMarkets on February 7, 2023 08:00:56
/r/CryptoMarkets/comments/10w1762/the_crypto_comms_40_bitcoin_litecoin_meet/j7ke6l5/

Bitcoin {{pros}} & {{cons}} and related info are in the collapsed comments below. Pros and cons will change for every new post.

Commented by /u/CointestMod in /r/CryptoMarkets on February 7, 2023 08:00:55
/r/CryptoMarkets/comments/10w1762/the_crypto_comms_40_bitcoin_litecoin_meet/j7ke6jo/

Pro & con info are in the collapsed comments below for the following topics: {{top_level_links}}

Commented by /u/CointestMod in /r/CryptoMarkets on February 7, 2023 08:00:55
/r/CryptoCurrency/comments/10w15cb/my_experience_using_allark_with_monero/j7ke5vj/

#Privacy Con-Arguments Below is an argument written by mic_droo which won 1st place in the Privacy Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Monero is a privacy coin – the biggest and most well-known privacy coin, at that. Its main appeal is that, other than most other crypto currencies, it really is private and anonymous and it has a huge community that loves that about it. > > There are, in my opinion, two clusters of arguments that can be made against Monero: those that generally disagree with Monero in general and think it’s dangerous, and those that generally think what Monero is doing is good, but that it doesn’t do a great job at it. > > Let’s start with the first one: the argument could be made that Monero is dangerous. As I’ve laid out in my [Privacy Con-post](https://np.reddit.com/r/CointestOfficial/comments/r6syvm/general_concepts_round_privacy_conarguments/hxqgi5x/) in the last round, complete privacy enables illegal activities – one the one hand if you, for example, kidnap someone, asking for Monero is a great choice. But elites can also engage in corruption more easily using a coin like that. It can also be used (and let’s be honest, that is happening) to avoid paying taxes – which in my opinion is a huge problem as 1) this leads to governments receiving less tax money (**yes**, I think taxes are a necessary and good thing) and 2) to them being more anti-crypto. If we want crypto in general to be more accepted, Monero isn’t doing anyone a favour, some [countries are cracking down on exchanges that offer privacy coins](https://www.techtarget.com/searchsecurity/news/252512394/Monero-and-the-complicated-world-of-privacy-coins) specifically, which might also lead to less and less exchanges offering XMR when crypto gets regulated more. > > Okay, so far so good, but even if you think complete privacy is exclusively good, Monero has a few downsides. Firstly, [it might not be as untraceable as it seems](https://www.wired.com/story/monero-privacy/) – in the past there have been a few problems that might have made you identifiable, especially if you weren’t cautious enough. Even though developers have fixed past loopholes, that doesn’t mean Monero will stay untraceable forever. The IRS [famously isn’t a fan and has a bounty on cracking Monero](https://www.forbes.com/sites/kellyphillipserb/2020/09/14/irs-will-pay-up-to-625000-if-you-can-crack-monero-other-privacy-coins/?sh=3749d97585cc), and it’s naïve to assume it is *impossible* to do so. If people feel to secure now, they might be in trouble once the code is cracked. Secondly, it’s slow – with one transaction [taking about half an hour to be completed](https://www.monero.how/how-long-do-monero-transactions-take), which makes it unusable or at least very annoying for many applications. Thirdly, it’s a proof of work coin which, without going into too much detail (but see my [PoW con post](https://np.reddit.com/r/CointestOfficial/comments/r6vtbn/general_concepts_round_pow_conarguments_december/hyr768o/) is an inefficient system that is awful for the environment. Finally, Monero mining [is pretty centralized](https://bitcoinist.com/does-monero-have-a-serious-centralized-mining-problem/) making it a potential target of a 51% attack. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/sifdy7/coin_inquiries_monero_conarguments_february_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Privacy) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10vmhhb/daily_general_discussion_february_7_2023_gmt0/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 08:00:44
/r/CryptoCurrency/comments/10w15cb/my_experience_using_allark_with_monero/j7ke5bk/

#Privacy Pro-Arguments Below is an argument written by Ornery_Maintenance_8 which won 2nd place in the Privacy Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Monero is private by default and leaves it up to you, what you want to reveal and to whom. > > If we think about privacy the first thing that comes to mind is often: Why would I need privacy ? I am not doing anything wrong. > > But this is a major misconception of privacy. To say it with the words of Eric Hughes: > > *"Privacy is necessary for an open society in the electronic age. Privacy is not secrecy. A private matter is something one doesn't want the whole world to know, but a secret matter is something one doesn't want anybody to know. Privacy is the power to selectively reveal oneself to the world."* > > or Edward Snowden: > > *"Privacy is the right to a free mind"* > > *"Without privacy, you can't have anything for yourself. Saying you don't care about privacy because you have nothing to hide is like saying you don't care about free speech because you have nothing to say."* > > Privacy is a fundamental human right and a lack of it automatically results in a loss of personal freedom. If you cant act privately you cant act free ! > > Just imagine your whole family, your friends, your boss, your neighbor, your landlord, the government and the scammer around the corner would always be able to stay informed about everything you do ... It opens yourself up for any kind of control, suppression and fraud. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/sifdv9/coin_inquiries_monero_proarguments_february_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Privacy) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 08:00:35
/r/CryptoCurrency/comments/10w15cb/my_experience_using_allark_with_monero/j7ke4ry/

Privacy {{pros}} & {{cons}} from the [Cointest](https://www.reddit.com/r/CointestOfficial/wiki/cointest_policy) along with other related info are in the collapsed comments below. Pros and cons will change for every new post. Submit an argument in the [Cointest](https://www.reddit.com/r/CointestOfficial/wiki/cointest_policy) and potentially win [Moons](https://coinmarketcap.com/currencies/moon/). **Moon prizes by award for the General Concepts category are: **1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 1000.** --- To submit a pro-argument about privacy, [click here](https://www.reddit.com/r/CointestOfficial/comments/t5mmym/general_concepts_privacy_proarguments_march_2022/). | To submit a con-argument about privacy, [click here](https://www.reddit.com/r/CointestOfficial/comments/t5mmzb/general_concepts_privacy_conarguments_march_2022/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 08:00:27
/r/CryptoCurrency/comments/10w15cb/my_experience_using_allark_with_monero/j7ke4sn/

* Relevant Cointest topics: [Monero](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_monero), [DEX](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_dex), [Regulation](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_regulation), [Basic Attention Token](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_basic_attention_token). * Related subreddits: r/Privacy, r/Brave_Browser, r/DEX, r/PrivacyTools, r/Tor, r/I2P, r/Onions, r/Tails, r/Monero, r/DashPay. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/10w15cb/my_experience_using_allark_with_monero/j7ke3g4/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 08:00:27
/r/CryptoCurrency/comments/10w15cb/my_experience_using_allark_with_monero/j7ke4qv/

#Monero Con-Arguments Below is an argument written by mic_droo which won 1st place in the Monero Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Monero is a privacy coin – the biggest and most well-known privacy coin, at that. Its main appeal is that, other than most other crypto currencies, it really is private and anonymous and it has a huge community that loves that about it. > > There are, in my opinion, two clusters of arguments that can be made against Monero: those that generally disagree with Monero in general and think it’s dangerous, and those that generally think what Monero is doing is good, but that it doesn’t do a great job at it. > > Let’s start with the first one: the argument could be made that Monero is dangerous. As I’ve laid out in my [Privacy Con-post](https://np.reddit.com/r/CointestOfficial/comments/r6syvm/general_concepts_round_privacy_conarguments/hxqgi5x/) in the last round, complete privacy enables illegal activities – one the one hand if you, for example, kidnap someone, asking for Monero is a great choice. But elites can also engage in corruption more easily using a coin like that. It can also be used (and let’s be honest, that is happening) to avoid paying taxes – which in my opinion is a huge problem as 1) this leads to governments receiving less tax money (**yes**, I think taxes are a necessary and good thing) and 2) to them being more anti-crypto. If we want crypto in general to be more accepted, Monero isn’t doing anyone a favour, some [countries are cracking down on exchanges that offer privacy coins](https://www.techtarget.com/searchsecurity/news/252512394/Monero-and-the-complicated-world-of-privacy-coins) specifically, which might also lead to less and less exchanges offering XMR when crypto gets regulated more. > > Okay, so far so good, but even if you think complete privacy is exclusively good, Monero has a few downsides. Firstly, [it might not be as untraceable as it seems](https://www.wired.com/story/monero-privacy/) – in the past there have been a few problems that might have made you identifiable, especially if you weren’t cautious enough. Even though developers have fixed past loopholes, that doesn’t mean Monero will stay untraceable forever. The IRS [famously isn’t a fan and has a bounty on cracking Monero](https://www.forbes.com/sites/kellyphillipserb/2020/09/14/irs-will-pay-up-to-625000-if-you-can-crack-monero-other-privacy-coins/?sh=3749d97585cc), and it’s naïve to assume it is *impossible* to do so. If people feel to secure now, they might be in trouble once the code is cracked. Secondly, it’s slow – with one transaction [taking about half an hour to be completed](https://www.monero.how/how-long-do-monero-transactions-take), which makes it unusable or at least very annoying for many applications. Thirdly, it’s a proof of work coin which, without going into too much detail (but see my [PoW con post](https://np.reddit.com/r/CointestOfficial/comments/r6vtbn/general_concepts_round_pow_conarguments_december/hyr768o/) is an inefficient system that is awful for the environment. Finally, Monero mining [is pretty centralized](https://bitcoinist.com/does-monero-have-a-serious-centralized-mining-problem/) making it a potential target of a 51% attack. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/sifdy7/coin_inquiries_monero_conarguments_february_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Monero) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10vmhhb/daily_general_discussion_february_7_2023_gmt0/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 08:00:26
/r/CryptoCurrency/comments/10w15cb/my_experience_using_allark_with_monero/j7ke46q/

#Monero Pro-Arguments Below is an argument written by excalilbug which won 1st place in the Monero Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > First entry: https://www.reddit.com/r/CointestOfficial/comments/qk4ybr/comment/hv1o18a/?utm\_source=share&utm\_medium=web2x&context=3 > > The biggest pros of Monero is that it's probably the closest to what cryptocurrencies should be - it's private, open source and decentralized > > It is also one of the oldest coins that are still pretty popular - it was started in 2013/2014 > > But back to its main pros - privacy > > Monero is so good at privacy that IRS is ready to pay people for finding bugs and making it traceable. Privacy becomes even more important when many governments plan to launch their own digital currencies. Official digital currencies will give 0 privacy and governments will be able to see all your transactions and even block your funds whenever they feel like it. It's total control of your finances > > So the pro of Monero is that there will always be a use-case for a privacy coin and it might boom when all other popular coins become regulated and offer less/no privacy > > > > Sources: https://www.quora.com/What-are-the-pros-and-cons-of-Monero, https://en.wikipedia.org/wiki/Monero, > > > > Disclaimer: I have some Monero ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/sifdv9/coin_inquiries_monero_proarguments_february_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Monero) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 08:00:18
/r/CryptoCurrency/comments/10w15cb/my_experience_using_allark_with_monero/j7ke3k7/

* Relevant Cointest topics: [Privacy](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_privacy), [Basic Attention Token](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_basic_attention_token), [Proof of Work](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_proof-of-work), [Regulation](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_regulation). * Relevant subreddits: r/Monero, r/MoneroMining, r/XMRtrader, r/DashPay, r/Zec, r/Pivx, r/Privacy, r/Tor, r/I2P, r/Onions, r/Tails, r/SelfHosted. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/10w15cb/my_experience_using_allark_with_monero/j7ke3g4/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 08:00:08
/r/CryptoCurrency/comments/10w15cb/my_experience_using_allark_with_monero/j7ke3ii/

Monero {{pros}} & {{cons}} and related info are in the collapsed comments below. Pros and cons will change for every new post. Submit a pro/con argument in the [Cointest](https://www.reddit.com/r/CointestOfficial/wiki/cointest_policy) and potentially win [Moons](https://coinmarketcap.com/currencies/moon/). Moon prizes by award for the Coin Inquiries category are: **1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 1000.**** --- To submit an XMR pro-argument, [click here](https://www.reddit.com/r/CointestOfficial/comments/sifdv9/coin_inquiries_monero_proarguments_february_2022/). | To submit an XMR con-argument, [click here](https://www.reddit.com/r/CointestOfficial/comments/sifdy7/coin_inquiries_monero_conarguments_february_2022/).

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 08:00:07
/r/CryptoCurrency/comments/10w15cb/my_experience_using_allark_with_monero/j7ke3g4/

Pro & con info are in the collapsed comments below for the following topics: {{top_level_links}}

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 08:00:06
/r/CryptoMarkets/comments/10w0ghd/ethereum_whales_purchase_51_trillion_shib_to_make/j7kb6aa/

#Shiba Inu Con-Arguments Below is an argument written by shitiforgotmypasswor which won 2nd place in the Shiba Inu Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > - SHIB doesn't really have a use case well defined. There are some people accepting it as a payment, there are some NFT being minted, but all without a clear use besides hodling. > > - The developers are anonymous, nobody know who they are and what they got out of it. > > - ShibaSwap is not well developed, lots of manual processes, rewards are deployed manually, last reward cycle delayed due to a dev having personal issues. The security excuse for it at this day and age is a red flag > > - Roadmap is full of ideas but still lacks a clear vision on what is SHIB going to address and make itself relevant. The ecosystem has 3 coins, with another 2 on the horizon, but again, no real use case for them. Feels like they just throw some words like "governance" but what is it governing? What pairs are to be added to the swap? What else? > > All in all, it comes down to lack of an appealing use case. It's marketed as community experiment, but it feels like a group of people with wishful thinking trying to make the coin value go up. ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/ovmtu2/rcc_cointest_coin_inquiries_shiba_inu\/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Shiba_Inu) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10vmhhb/daily_general_discussion_february_7_2023_gmt0/).

Commented by /u/CointestMod in /r/CryptoMarkets on February 7, 2023 07:31:11
/r/CryptoMarkets/comments/10w0ghd/ethereum_whales_purchase_51_trillion_shib_to_make/j7kb5rt/

#Shiba Inu Pro-Arguments Below is an argument written by Flying_Koeksister which won 1st place in the Shiba Inu Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > # 1. Background features > > ## 1.1. A decent Whitepaper > > A white paper essentially declares a crypto projects goals and may include a few technical details. In general, a white paper should give the reader insight as to what the coin is, how it roughly works and where the developers would like to take the coin to. Not having a whitepaper can raise some red flags. SHIBA has a whitepaper detailing its purpose, reasoning for being an ERC20 token, vision of SHIBA Swop, tokenomics and token allocations. The whitepaper is constantly updated over time to remain relevant with the last update 29/04/2021. ( [Source: Shiba Inu whitepaper](https://woofpaper.org/SHIBAINU_Ecosystem_WOOF_Paper.pdf) ) > > ## 1.2. Based on ERC20 > > The ERC20 is an etherium base and is a proven system with many tokens launched successfully. Payments on this blockchain happens in less than 10 seconds. Furthermore tokens on this platform is Well suited for DApp development and allows SHIBA INU to be stored on any wallet that supports ERC20 ( [source1](https://www.developcoins.com/benefits-of-creating-a-erc20-token) ) ([source2](https://erc20.tech/benefits-erc20)). > > ## 1.3 Audited > > CertiK has audited the Shiba Swap DEX with a 91 security score at the time of writing. The audit request was done 2021/05/27. Initially there were 34 findings from the report. Of these 97% of the findings were resolved, with the remaining findings falling under the minor ([source](https://www.certik.org/projects/shib)). > > # 2. Ideological features > > ## 2.1. Philanthropic Incentives > > The SHIBA Army are very passionate about the dog which the coin is named after. The whitepaper itself encourages everyone to donate a percentage of amazon purchases to the Shiba Inu Rescue Association ([Source: Shiba Inu whitepaper](https://woofpaper.org/SHIBAINU_Ecosystem_WOOF_Paper.pdf)). > > ## 2.2. The incredible growth of meme coins > > Meme coins such as SHIBA INU and DOGE has grown considerably in value and has made investors a lot of money in the process. Shib was up 1 200 000% percent on 14th May, up until this point no other token has experienced such a significant gain in price ([source](https://sashares.co.za/shiba-inu-review/#gs.cdx38k)) > > ## 2.3. Governance ambitions. > > The governance system is expected to be launched later this year. Governance will take place by means of ownership of the BONE token. ([Source: Shiba Inu whitepaper](https://woofpaper.org/SHIBAINU_Ecosystem_WOOF_Paper.pdf)) > > ## 2.4. Encourages the use of Decentralized Exchanges and retail ownership of coins. > > According to the whitepaper, Centralized exchanges are not allowed to receive any returns from Shiba Swop. This encourages and rewards users for keeping their own tokens in their own wallets and staking them to earn rewards. ([Source: Shiba Inu whitepaper](https://woofpaper.org/SHIBAINU_Ecosystem_WOOF_Paper.pdf)) > > # 3. Ecosystem, Utility and rewards > > ## 3.1. An ecosystem that rewards its believers > > SHIBA INU has now formed its own entire ecosystem of coins these are namely : SHIBA INU; LEASH; and BONE. A fourth coin TREAT is expected to be launched soon. These coins can be purchased by via the ShibaSwap DEX and then staked to earn rewards. An overview has been provided below: > > * SHIB (Original Coin) > * Large coin supply > * Stake rewards \[ Earn 3% BONE per block & + 0.3% of all ETH transaction fees\]. > * LEASH (Liquidity provider ) > * Limit supply > * Stake rewards \[0.5% Bone minted per Block \] > * Additional rewards (puppy pool) \[+ 0.3% WBTC & + 0.3% USDC for all swap transactions\]. > * BONE (Governance token) > * Stake Rewards: \[1% Bone minted per block \] > * Additional reward (puppy pool): \[ +0.3% DAI + 0.3% USDT swap returns.\] > * TREAT (coming soon) > > ([Source: Shiba Inu whitepaper](https://woofpaper.org/SHIBAINU_Ecosystem_WOOF_Paper.pdf)) > > ## 3.2. Trading benefits > > SHIBA has a fairly low price, fairly good availability , high trading volume and volatility. This may appeal to traders with a higher appetite for risk. ([source ](https://www.daytrading.com/shiba-inu)) > > ## 3.3. Utility > > SHIBA INU investors have the option to invest, involve in staking and provide liquidity. Despite only being launced in 2020 Shiba is currently accepted as a form of payment by 88 companies ([Source](https://www.fool.com/investing/2021/10/18/3-reasons-the-shiba-inu-bubble-could-burst-any-day/)) The developers are currently aiming to build a Artist Incubator/NFT platform powered which will extend the utility of SHIBA INU. ([Source: Shiba Inu whitepaper](https://woofpaper.org/SHIBAINU_Ecosystem_WOOF_Paper.pdf)) > > ## 3.4. Availability on both Centralized and Decentralized exchanges > > SHIBA INU is available on a growing amount of platforms. These include multiple popular centralized exchanges as well as some decentralized exchanges. > > * Decentralized exchanges: (ShibaSwap and UniSwap) > * Centralized Exchanges (Crypto.com ; Binance; OKEX; Gate.io) > * Wallet apps (Atomic Wallet; KuCoin; Meta Mask) > > ([source 1](https://www.laptopmag.com/how-to/how-to-buy-shiba-coin)) ([source 2](https://www.daytrading.com/shiba-inu)) > > # concluding remarks > > SHIBA INU is a meme coin with plenty of plenty of ambition. Despite being comparatively young, Shiba has experienced significant growth in value, produced a successful DEX and has multiple methods of acquiring (by means of DEX/CEX). > > **Disclosures:** > > I do not own any SHIBA INU; BONE or LEASE nor have I ever owned them. I personally have nothing against SHIBA INU but do prefer utility coins such as ETH.. ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/ovmtu8/rcc_cointest_coin_inquiries_shiba_inu\/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Shiba_Inu) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoMarkets on February 7, 2023 07:31:02
/r/CryptoMarkets/comments/10w0ghd/ethereum_whales_purchase_51_trillion_shib_to_make/j7kb5aw/

* Relevant Cointest topics: [Dogecoin](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_dogecoin), [Safemoon](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_safemoon). * Relevant subreddits: r/Shibainucoin, r/Dogecoin, r/SafeMoon. * Sort comments as controversial first by [clicking here](/r/CryptoMarkets/comments/10w0ghd/ethereum_whales_purchase_51_trillion_shib_to_make/j7kb46k/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoMarkets on February 7, 2023 07:30:54
/r/CryptoMarkets/comments/10w0ghd/ethereum_whales_purchase_51_trillion_shib_to_make/j7kb592/

#Ethereum Con-Arguments Below is an argument written by Maleficent_Plankton which won 1st place in the Ethereum Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Ethereum has drastically changed in the past year now that it has rebranded itself as **Consensus/Settlement layer** for other Layer 2 Execution/Rollup networks. It is no longer trying to be a monolithic blockchain by itself. Because of this shift in design, many of its former CONs are no longer major issues. And many of the CONs that still exist often have a beneficial sides. > > I discuss the CONs of Ethereum and their impact on its users here: > > ## CONs > > **Gas Fees** (major): > > The biggest complaint for Ethereum is its network gas fees. Every transaction needs gas to pay for storage and processing power, and gas prices vary based on demand. Gas price is very volatile and often changes 2-5x in magnitude within the same day. ERC20 transfers are used for a large percentage of cryptocurrencies, and it's the reason much of DeFi is extremely expensive. If I wanted to send ERC20 tokens between exchanges, it's often cheaper to trade for XRP, ALGO, or some other microtransaction coin, transfer it using their other coin's native network, and then trade back into the original token. Basically: use a coin on a different network to avoid fees. > > Typical transaction fees for Ethereum were [between $2-10 over the past year](https://etherscan.io/chart/avg-txfee-usd), but they have shot up to $50+ several times in 2021. > > And that's just for basic transactions. Anyone who has tried to use more complex smart contracts like moving MATIC from Polygon mainnet back to ETH L1 mainnet during a time of high gas fees mid-year in 2021 saw $100-$200 gas fees. Transferring ERC-20 tokens (often $20-50) is also more gas expensive because it can't be done through native transfers like on the Cardano network. It's impractical to use swaps like Uniswap for small transactions due to these fees. > > In particular, One/Many-to-many batch transactions are extremely gas-expensive using Ethereum's account-based model compared to Bitcoin's and Cardano's UXTO-based model. [This batch transaction on Ethereum](https://etherscan.io/tx/0x0fe2542079644e107cbf13690eb9c2c65963ccb79089ff96bfaf8dced2331c92) cost over $5000 while [a similar eUXTO transaction on Cardano](https://adapools.org/transactions/e586c6340ee9e60a6c64f447feffe5f89bdabc7741666ecaa681081957938f56) only cost $0.50 in fees. > > On the other hand, these fees provide Ethereum long-term economic sustainability and resilience against DDoS and spam attacks. > > **Competition from other Smart Contract networks** (moderate): > > Ethereum has enjoyed its lead as the smart contract blockchain due to first-mover advantage. But there are now many efficient smart contract competitors like Algorand, Solana, and Cardano. Ethereum is now facing much competition. Who wants to pay $20 gas fees on Ethereum when you can get similar transactions for under $0.01 with Algo and Solana or $0.30 transactions with Cardano? > > Fortunately, the amount of competition is limited because Ethereum is positioning itself as a Settlement layer whereas these other networks are monolithic networks. All monolithic networks will eventually run into scaling issues due to long-term storage and bandwidth limits. It will really depend on how successful Ethereum's Layer 2 rollup solutions will be. > > **Future uncertainty about Layer 2 solutions** (major): > > Ethereum's long-term success is dependent on the success of its Layer 2 solutions. > > These Layer 2 solutions are still extremely early. Even after a year, L2 has a very fragmented adoption. The majority of centralized exchanges currently do not support Layer 2 rollup networks. A few have started to support Polygon, which is more of a Layer 2 side-chain that saves state every 256 blocks than a Layer 2 rollup. Very few CEXs allow for direct fiat on/off-ramping on L2 networks, which puts those networks out of reach of most users. > > Many of these Layer 2 networks (Arbitrum, Optimism, Loopring, ZKSync, etc), are not interoperable with each other. You can store your tokens on any specific L2 network, but they're stuck there. If you want to move your tokens back to Layer 1 or to another L2 network, you have to pay very expensive smart contract gas fees ($50-300). Eventually, there will be bridges between these networks, but we could be years away from widespread adoption. > > Fragmented liquidity is another huge issue. Each of these L2 networks has its own liquidity pool for each token it supports. You can store your token on the the L2 network, but you won't be able to trade or swap much if there are no liquidity pools for that token. Eventually, there will be Dynamic Automated Market Makers (dAMMs) that can share liquidity between networks, but they are complex and introduce their own weaknesses. > > Both Optimistic and ZK Rollups are handled off-chain and require a separate network nodes or smart contracts as infrastructure to validate transactions or generate ZK Proofs. They are very centralized in how they operate, so there's always the risk that their network operators could cheat their customers. By now, the community seems to agree that ZK rollups are the future rollup solution to decentralized L2 networks. There is only 1 notable instance of Plasma (Ethereum to Polygon network conversion), and no one uses it anymore since the Ethereum-Polygon bridge is easier to use. The biggest competitor to ZK rollups are Optimistic rollups, and those take too long to settle back to Layer 1 (1 week) and are still too expensive to use (20-50% of the cost of L1 Ethereum gas fees for transfers). > > **ZK Rollups** require special infrastructure to generate ZK Proofs. These are very computationally-expensive, potentially [thousands of times](https://vitalik.ca/general/2021/01/05/rollup.html) more expensive that just doing the computation directly. To reduce the cost, they are done completely-centralized by specialized servers. Thus the cost of a ZK Rollup is cheap at about [$0.10 to $.30](https://l2fees.info/). But even at $0.10 per transfer and $0.50 per swap, these are still at least 10x more expensive than costs on Algorand and Solana. Users will have to decide whether the extra cost and hassle of using an L2 platform is worth the extra security of settling on the more-decentralized and secure Ethereum L1 network. > > **Ethereum Proof-of-Stake merge is arriving later than competitors** (moderate): > > The ETH PoS Beacon chain has been released, it's a completely separate blockchain from ETH and won't merge with the main blockchain [until later this year](https://decrypt.co/78690/ethereum-2-staking-tops-21-billion-merge-horizon), giving its competitors plenty of time to provide FUD. We still don't know how successful the merge will be. Currently, stakes are locked, preventing investors from selling. We don't know what will happen to the price once staking unlocks. > > **MEV and Dark Forest attacks** (minor): > > [MEV](https://np.reddit.com/r/MPlankton/comments/rs4wp2/the_dark_forest_of_cryptocurrency/) is actually a pretty big issue for networks with high gas arbitrage and mempools like Ethereum, but most casual users will never notice hostile arbitrage. When you broadcast your transaction to the network, there are armies of bots and automated miners that analyze your transaction to see if they can perform arbitrage strategies on your transaction such as front-running, sandwiching, excluding transactions, stealing/replaying transactions, and other pure-profit plays. "Dark Forest" attacks have reveled that bots are constantly monitoring the network, and they can front-run you unless you have your own private army of miners. > > **Final Word** > > Overall, I still think the PROs outweigh the CONs for Ethereum in the long-run due to its first-mover advantage and the long-term sustainability of the Ethereum network. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2luf/top_10_ethereum_conarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10vmhhb/daily_general_discussion_february_7_2023_gmt0/).

Commented by /u/CointestMod in /r/CryptoMarkets on February 7, 2023 07:30:53
/r/CryptoMarkets/comments/10w0ghd/ethereum_whales_purchase_51_trillion_shib_to_make/j7kb59z/

Shiba Inu {{pros}} & {{cons}} and related info are in the collapsed comments below. Pros and cons will change for every new post.

Commented by /u/CointestMod in /r/CryptoMarkets on February 7, 2023 07:30:53
/r/CryptoMarkets/comments/10w0ghd/ethereum_whales_purchase_51_trillion_shib_to_make/j7kb4q5/

#Ethereum Pro-Arguments Below is an argument written by Maleficent_Plankton which won 1st place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > # Background > > Ethereum is a **multi-layer smart contract ecosystem** that is currently migrating from Proof of Work to Proof of Stake: > > * Layer 1 - Consensus/Settlement layer > * Layer 2 - Execution/Rollup layer > > ## PROs > > **First-mover advantage** (major): > > Like Bitcoin, Ethereum enjoys a first-mover advantage. Being around longer than all other smart contract networks gives Ethereum a massive advantage in adoption, which leads to greater decentralization, security, liquidity pools, and app development. Because of the first-mover advantage, Ethereum easily trounces its competitors in security and popularity, and those competitors have little chance of catching up even though their virtual machines are more efficient than EVM. > > **Resilient to spam and Denial-of-Service attacks** (moderate): > > Due to high gas fees on the Ethereum network, it is extremely resistant to DDoS attacks and spam attacks. Ethereum is battle-tested and hasn't sufferred a major DDoS attack since 2016. > > Some of its competitors are still dealing with DDoS attacks. Every time the Solana network goes down from DDoS attacks, which have happened at least 6 times in the past year, there are huge complaints from the crypto community. You need a large amount of memory and bandwidth to keep up with fast networks like Solana. Similarly, Polygon suffered an unintentional DDoS attack from [Sunflower Farmers game](https://www.coindesk.com/tech/2022/01/06/polygon-under-accidental-attack-from-swarm-of-sunflower-farmers/) in Jan 6. For several days, bots ground the network to a halt. > > **Proof of Stake resistant to 51% attacks** (minor): > > * 51% attack (for PoS and PoW) can only revert or censor transactions. [It cannot be used to steal accounts.](https://thedefiant.io/vitalik-eth-cross-chain-bridges-security/). Every transaction has to result in a consistent state. > * With the exception of client bugs that can have unexpected and widespread effects, deterministic PoS networks are very resistant to reorg attacks since they can be immediately detected when a double-spend happens. Bad nodes will be immediately slashed and that double-spend will never go through. > > **Long-term scalability as a settlement layer** (major): > > Ethereum has long-term scalability through Layer 2 rollups. It can offload all its data bloat and computations off-chain. > > Many monolithic blockchains are fine for now, but they eventually all suffer from massive data bloat on their blockchains unless they also offload to Layer 2 solutions. When this happens, they will be playing catch-up with Ethereum. > > **Economic sustainability** (major): > > * Ethereum PoS is one of the ONLY networks that's expected to be deflationary due to its extremely-high fees. Ethereum PoW's amount of inflation is [now offset 35%](https://watchtheburn.com/) in Jun 2022 by the amount burned per transaction from EIP-1559. After the merge, the issuance is expected to drop 80%, making Ethereum PoS the first popular blockchain that will have **supply deflation** and become a positive-sum investment. > * In contrast, many other blockchains have enjoyed lower transaction fees by subsidizing network costs through charging investors with inflation. > * **Polygon PoS** distributes $400M in inflationary rewards annually but only collects $18M in fees. > * **Solana** collects only $40M in fees but gives away 100x that much ($4B) in rewards [[Source](https://polynya.medium.com/why-rollups-data-shards-are-the-only-sustainable-solution-for-high-scalability-c9aabd6fbb48)]. > * **Cardano** rewards stakers from a diminishing rewards pool that is on schedule to drop 90% in 5 years. > * **Bitcoin** pays miners with block subsidies (set to diminish by 99% in 30 years) that are 50-100x bigger than its transaction fees. When their subsidies disappear, unless they have major governance changes, these networks are either going to see much higher fees, or their security is going to decrease drastically. > * **Avalanche** has 10% inflation, and the [burn rate](https://burnedavax.com/) is 100x smaller than the issuance rate. > * **Algorand** pays from a staking reward pool [that disappears in 2030](https://algorand.foundation/governance/algo-dynamics). Its low transaction fees don't cover the cost of paying for validators and relay nodes. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/tuwvz5/top_coins_ethereum_proarguments_april_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoMarkets on February 7, 2023 07:30:44
/r/CryptoMarkets/comments/10w0ghd/ethereum_whales_purchase_51_trillion_shib_to_make/j7kb48i/

* Relevant Cointest topics: [Cardano](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_cardano), [Algorand](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_algorand), [Solana](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_solana), [Polkadot](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_polkadot), [Cosmos](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_cosmos), [Proof of Stake](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_proof-of-stake). * Official and related subreddits: r/Ethereum, r/EthTrader, r/EthStaker, r/Cardano, r/Algorand, r/Solana, r/CosmosNetwork, r/Polkadot, r/Tezos. * Sort comments as controversial first by [clicking here](/r/CryptoMarkets/comments/10w0ghd/ethereum_whales_purchase_51_trillion_shib_to_make/j7kb46k/?sort=controversial). Doesn't work on mobile.

Commented by /u/CointestMod in /r/CryptoMarkets on February 7, 2023 07:30:36
/r/CryptoMarkets/comments/10w0ghd/ethereum_whales_purchase_51_trillion_shib_to_make/j7kb47u/

Ethereum [pros](/r/CryptoMarkets/comments/10w0ghd/ethereum_whales_purchase_51_trillion_shib_to_make/j7kb4q5/) & [cons](/r/CryptoMarkets/comments/10w0ghd/ethereum_whales_purchase_51_trillion_shib_to_make/j7kb592/) and related info are in the collapsed comments below. Pros and cons will change for every new post. Submit a pro/con argument in the [Cointest](https://www.reddit.com/r/CointestOfficial/wiki/cointest_policy) and potentially win [Moons](https://coinmarketcap.com/currencies/moon/). Moon prizes by award for the Top Coins category are: **1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 1000.** --- To submit an ETH pro-argument, [click here](https://old.reddit.com/r/CointestOfficial/comments/tuwvz5/top_coins_ethereum_proarguments_april_2022/). | To submit an ETH con-argument, [click here](https://old.reddit.com/r/CointestOfficial/comments/tuww2u/top_coins_ethereum_conarguments_april_2022/).

Commented by /u/CointestMod in /r/CryptoMarkets on February 7, 2023 07:30:35
/r/CryptoMarkets/comments/10w0ghd/ethereum_whales_purchase_51_trillion_shib_to_make/j7kb46k/

Pro & con info are in the collapsed comments below for the following topics: {{top_level_links}}

Commented by /u/CointestMod in /r/CryptoMarkets on February 7, 2023 07:30:35
/r/CryptoCurrency/comments/10w0dsc/safe_and_simple_crypto_trading_with_the_first_no/j7kb3de/

#Bitcoin Pro-Arguments Below is an argument written by Maleficent_Plankton which won 2nd place in the Bitcoin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > ##**Main PROs** > > Bitcoin is currently the most popular cryptocurrency and marketcap leader. Among all the cryptocurrencies, it's the one your grandma would most likely have heard of. This is mainly due to its first-mover advantage coupled with the network effect. And since cryptocurrency value is largely based on a Keynesian Beauty Contest, it's likely to remain the most popular for years to come. > > **First-Mover Advantage**: This gave Bitcoin a huge head start over its competitors despite that it's technologically behind. If Bitcoin, Bitcoin Cash, and Litecoin were all released simultaneously, Bitcoin would lose to its competitors because its competitors have much more efficient designs with higher throughput. There are many newer networks that have 10-100x Bitcoin's throughput and have 100x cheaper fees. But the reality is that Bitcoin's first-mover advantage gave it such a huge head start that the others can't catch up. > > **The Network Effect**: This means that people will flock to whichever product has the largest user base. Whenever people first invest in cryptocurrency, they notice Bitcoin first because it's the largest and most popular. For half a decade, its name was almost synonymous with cryptocurrency. The network effect creates a positive feedback loop and makes Bitcoin's lead grow even more. Its block subsidy is also the highest, which attracts miners, thus increasing its security. > > **Anti-censorship**: Bitcoin provides partial financial 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. For example, many Russians, Iranian, and North Koreans are getting around sanctions by using Bitcoin and mixers. Legal sex workers and marijuana industries are sometimes blocked from using traditional financial services due to social stigma. Bitcoin provides those workers a way to transfer funds that censorship. > > **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. > > **Cannot be counterfeited**: Cash can be counterfeited, but you can't fake transactions or UTXOs. > > **Considered a commodity**: Bitcoin is the only cryptocurrency that both the SEC and CFTC have openly stated is likely a commodity, so it has a low chance of being subjected to future securities regulations. > > ##**The Bitcoin Narratives and the Knowledge Gap** > > There are so many Bitcoin Maxis who will ignore logic and keep spreading Pro-Bitcoin Narratives of questionable 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. Those who aren't technical will believe them without digging deeper. (Sadly, I may have spread a couple of these myself not that long ago.) Thus, Bitcoin tends to cult-ivate a community of block-headed maximalists who are willing to shill and meme Bitcoin all day long. > > **Here's a list of popular but questionable Bitcoin Narratives.** Regardless of whether these are accurate, they will keep spreading and contributing to Bitcoin's popularity and network effect. > > * **Maximum Supply cap guarantees scarcity and that price will keep increasing**: Bitcoin has a supply cap of 2.1 Million Bitcoins, so it's deflationary and will keep going up in price. > * **Reality**: Bitcoin is actually inflationary, albeit disinflationary, until 2140. Scarcity is questionable because it can always fork, and there are competing blockchains. There is no guarantee that price will keep going up. The maximum supply cap is also a double-edged sword since mining rewards aren't guaranteed, and Bitcoin's security will likely decline greatly decades from now. > * **Bitcoin is an Inflation Hedge** > * **Reality**: When inflation rose in 2022, Bitcoin plunged in price, proving that it's not a good inflation hedge. Instead, it tends to go up and down with the stock market, but with higher volatility. > * **Bitcoin is a great Store of Value (i.e. Digital gold)** > * **Reality**: Bitcoin's price is too volatile to make it a good Store of Value. > * **All altcoins are shitcoins**: Altcoins will never beat Bitcoin and always fail. Bitcoin has survived multiple hard forks, bug fixes, country-wide bans, and 80-90% value crashes ... unlike most altcoins. > * **Reality**: Altcoins fall harder during bear markets, but they also rise more during bull markets. The better ones also have better protocol designs than Bitcoin. Eventually, one of them could even dethrone Bitcoin. > * **UTXO batch transactions**: Bitcoin can natively batch UTXO transactions to increase to effective throughput beyond TPS. > * **Reality**: While it's true that batch transactions increase effective transfers, they only do so by a maximum of 70%, increasing effective throughput from 3 transfers/s to 5 transfers/s. There is a 40% savings in storage space, and 75% savings in fees [[Source](https://blog.coinbase.com/reflections-on-bitcoin-transaction-batching-b13dad12a12)]. Also note that account-based smart contracts can save similar amounts of storage and fees, so this isn't unique to Bitcoin. > * **The Lightning Network can scale Bitcoin to the global population**: The Lightning Network can greatly scale Bitcoin and enable fast peer-to-peer transactions. > * **But**: It can't scale well past 1% of the global population since users are expected to open and close channel regularly. And if 10% of the global population uses the Lightning Network, they can only open and close channels once every 8 years on average due to congestion on Layer 1. The only way to get around this is if everyone only interacts on centralized exchanges without touching the network itself. > * **Decentralization**: Bitcoin is the most decentralized cryptocurrency because it has the highest Nakamoto Coefficient when measured by individual miners. > * **Reality**: The top 3 mining pools own 60% of the network hash rate, and the true coefficient is just 3. > * **Fair launch**: Bitcoin had a fair launch. First the first couple of years, anyone had to work for their Bitcoins. There was no ICO. > * **But**: There were only ~100 miners the first several years, and that they mined out the vast majority of all Bitcoins and got a huge advantage over everyone else. > > If these are flawed arguments, why am I even listing them as Pros? **To show that even if these narratives are questionable, there are so many of them, and they will keep spreading.** For each person who realizes their flaws, two more newbies who don't bother with research will gobble them up. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpui9i/top_coins_bitcoin_proarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin) to find arguments on this topic in other rounds.

Commented by /u/CointestMod in /r/CryptoCurrency on February 7, 2023 07:30:22