HKCigarLife (@hkcigarlife) • Hey
Hello Fellow Lensers,
Good to see you and clearly.
Community driven NFT creator based around IRL experiences and relationships that enhance value and opp
Publications
- Enjoy the day boys!
https://x.com/HKCigarLife/status/1802179426882621472?t=p2wZjseLtlKkrhR2nM84QA&s=19
- Sometime you got to sit outside and touch grass
- Throw these tomatoes on the fry pan right after the steaks for a wonderful and simple side dish.
- One eye is blind. Old but still cute.
- Makes me feel relaxed
- Hello Friends!
Have a bluetiful day!
- Former Bitmex CEO Arthur Hayes: ETF Success' Might 'Destroy Bitcoin'Arthur Hayes, former CEO of Bitmex and cryptocurrency market analyst, pondered about the success of an upcoming spot bitcoin ETF and its effect on the future of bitcoin. Hayes states that the popularity of these ETF derivatives might concentrate the custody of all the bitcoin in a few hands that won’t move it, forcing miners to capitulate due to a lack of activity in the blockchain.Arthur Hayes Believes ETFs Might Cause the Demise of Bitcoin
Former Bitmex CEO Arthur Hayes believes that the success of an upcoming spot bitcoin ETF might endanger the existence of the Bitcoin network. In his most recent blog post, “Expression,” Hayes presents a hypothetical situation in which bitcoin is all in the hands of a few financial firms, like Blackrock.
If this happens, Hayes anticipates this will destroy bitcoin as a store of value, given that it is different from all of the assets traded in financial markets until now.
Hayes argued:
Bitcoin is the first monetary asset in human history that exists only if it moves. But if there was never another Bitcoin transaction between two entities, miners would be unable to afford the energy it costs to secure the networkThe result of this would be the shutdown of the whole Bitcoin network due to the starvation of miners who will receive fees only from bitcoin transactions after the subsidy ends circa 2140.
Hayes adds that this could happen if users come to value bitcoin as a financial asset more than a store of value, favoring the purchase of derivatives instead of the cryptocurrency. However, if bitcoin suffers this fate, Hayes anticipates the birth of a similar asset to allow people to transact in a non-state-owned financial system.
“Hopefully, the second time around, we will learn not to hand our private keys to the baldies,” he concluded.
What do you think about Hayes’ opinion on the success of a spot bitcoin ETF and its effect on bitcoin? Tell us in the comments section below.
- La Aurora Stravaganza.
The one cigar I would hope for when stuck on a deserted island.
- Look @joonatan.lens arrived im HK
- Dinner for my kids.
- My 3 kg guard dog
- What a cute fish. Matcha art!
- Afternoon snack
- This is the start of a beautiful afternoon!
#hkcigarlife
- Nature is beautiful.
Artichoke in bloom.
- Wanna bite?
- So many exclusives to try!
- Are we clear?
- Delicious Rocky Road with real Marshmallows.
- Figure this one out
- Need to figure something out. . .
- Watermelon season is here!
Enjoy summer!
- Healthy Sunday Greetings!
We got this!
- I like the color
- Need this to stay awake at school.
- Yeah or Nope?
- My pet sloth
- Nature and engineering
- Only available IRL. . . For now. . .
- Korean BBQ
- Who is missing from the table?
- AI helps visualize the taste of Cohiba Black
- With the new BMW V12 engine, this classic Rolls Royce will go from 0-60 mph in under 6 seconds.
- Sometimes you will find this useful.
- Matcha Pudding
- Some things are more impressive IRL.
- Which would you choose?
- 12 yo
- Billionaires smoke cigars
- Jennifer Lopez is a fine babe
- Fine babes love cigars
- How many cigar people we have om Phaver?
- Funny
- Built on @memester-xyz.lens
- Hope everyone in Hong Kong enjoyed FOMOASIA