@BaseGeld @adamscochran See discord for explanation
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0xBitcoin Foundation
367 posts
0xBitcoin Foundation
@0xBTCFoundation
0xBitcoin is an ERC-20 token that can only be minted through SHA-256 mining. It is the first and only major mineable asset native to Ethereum. https://t.co/HgS5bO6rAS
Katılım Haziran 2018
50 Takip Edilen621 Takipçiler
@BaseGeld @adamscochran to clarify, is this only using code from the miner or is this using code from the 0xBitcoin token contract itself? A bug was found in the original 0xBitcoin token contract that allowed for new minting to be halted; 0xBTC as it stands is broken.
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An altcoin could theoretically copy #Bitcoin 's post-halving value appreciation, provided these conditions:
1) PoW (un-gameable distribution of new supply issuance)
2) no leadership team (immutability)
3) supply issuance schedule creates increasing scarcity
Thread...
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This account will make sure to keep everyone updated on what the community decides to do going forward. Some ideas floated have been a brand new V2 with fixes or a V2 with a V1 swap (continuing the original distribution curve).
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Where the 0xBitcoin token and the community goes from here is up in the air! It's an exciting time for many in the 0xBTC community, but understandably also a sad moment for many.
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Important Announcement: The 0xBitcoin contract's mining bug has finally been exploited. The contract is unable to mint new 0xBitcoin, and it is no longer possible to mint 0xBTC.
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Bitcoin is, perhaps not fatally, but fundamentally flawed.
0xBitcoin resolves the inherent contradictions of Bitcoin by utilizing secure Ethereum PoS for security. Because of this, 0xBTC can sustainably ensure 21mil cap and retain hard-money properties of BTC in the long run.
Milan@milan_dereede
Took a quick look at Bitcoin's security spend. In short, it's not looking good. "Fees will replace block rewards" is completely not the case so far. What we instead see is diminishing security over time, surprisingly consistently. This makes Bitcoin vulnerable 🧵 (short)
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0xBitcoin Foundation retweetledi
If you are going to let a centralized party manage a bridge - the assets *MUST* be legally separated in FBO accounts otherwise they are subject to bankruptcy.
Biggest market risk here is for sure wBTC.
0xngmi@0xngmi
It feels like most ppl are ignoring the bankruptcy risk for bridged assets. - Assets bridged to smartBCH were rugged by CoinFlex when it went under due to not liquidating roger ver - FTX bridge on solana rugged by liquidators - BTC backing renBTC rugged by liquidators too
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@MIXYARD0 Probably in like a hundred years or something? Maybe a few hundred... I'd have to do the math 🤯
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We've been tweeting and writing about this since (*checks notes*) 2018. medium.com/0xbitcoinfound…
The solution is simple: re-implement important protocols like Bitcoin as native assets on the chains where actual DeFi activity happens, like Ethereum. #0xBitcoin
0xngmi@0xngmi
It feels like most ppl are ignoring the bankruptcy risk for bridged assets. - Assets bridged to smartBCH were rugged by CoinFlex when it went under due to not liquidating roger ver - FTX bridge on solana rugged by liquidators - BTC backing renBTC rugged by liquidators too
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@0xGambarimasu @0xngmi Same problem as all the others. Centralized custodians.
medium.com/0xbitcoinfound…
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It feels like most ppl are ignoring the bankruptcy risk for bridged assets.
- Assets bridged to smartBCH were rugged by CoinFlex when it went under due to not liquidating roger ver
- FTX bridge on solana rugged by liquidators
- BTC backing renBTC rugged by liquidators too
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0xBitcoin Foundation@0xBTCFoundation
We've been tweeting and writing about this since (*checks notes*) 2018. medium.com/0xbitcoinfound… The solution is simple: re-implement important protocols like Bitcoin as native assets on the chains where actual DeFi activity happens, like Ethereum. #0xBitcoin
QME
We get MEXC reps in the 0xBitcoin discord all the time trying to prey on our community for BS like this.
The 0xBitcoin community BS-meter has been honed for years, with 0xBTC being born in the trenches of the scam ICO crazy. Miss us with these PnD games, we have self respect.
Burgerflipper@trmachine888
1. Buy a new microcrap coin on an exchange like @MEXC_Global with 370k volume 2. Tweet about it to your 290k followers 3. Daily volume hits 620k, which means 250 followers had to buy 1k each to pump it. 4. Tell everyone on twitter what a godlike trader you are 5. @zachxbt ?
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A late congratulations to the Ethereum community for another successful milestone in Shapella. Looking forward to future updates to improve scaling and privacy.
0xBitcoin benefits from all Ethereum network upgrades, while maintaining its immutable economics. The ideal hard-money
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0xBitcoin Foundation retweetledi
For the trillionth time. We don't need BTC bridged to Ethereum. This is impossible to do trustlessly. We need the Bitcoin protocol implemented on Ethereum natively.
We need 0xBitcoin.
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"RenVM is able to instantiate a decentralised, permission-less, and trust-less custodian" 🤡🤡🤡🤡🤡🤡🤡🤡🤡
Ren@renprotocol
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0xBitcoin was the first PoW mined ERC20 in the Ethereum network, and its necessity becomes increasingly clear as the Ethereum network becomes further entrenched as the dominant global platform.
We can build the economic system the world needs now without custodians or bridges.
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We encourage the broader crypto community to consider the benefits of adopting a hard-money asset that can be upgraded in utility (through Ethereum improvements) while remaining unalterable as a smart contract.
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This account doesn't generally post about price, because the last thing we want to do is resemble the pump and dump schemes that were rampant when 0xBitcoin was first created in 2018 (and remain rampant today).
But there is a lesson to be learned from recent movements 👇
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