Seeker User ⛏️ retweeted
The Binance hack doesn’t bother me at all when it comes to owning $ORE on Solana.
$ORE doesn’t need Binance to establish ownership, self-custody, settlement or monetary integrity.
A CEX can provide liquidity and trading access, but it has no authority over who owns $ORE.
That’s the difference between owning money/SoV and holding an exchange IOU
Seeker User ⛏️ retweeted
i've been in crypto since 2017 and worked full-time in it since 2021.
only in the last ~3 months did i begin to understand its origins
xitter.gq/KEMOS4BE/status/211579…
Proof of Work is Dead & Bitcoin Killed it
–––––––––––––––––––––––––––––––––––
00:00 PoW: A Very Expensive Parade
01:55 What Satoshi built
02:47 OG Developer on early Bitcoin (@xer0c)
03:15 Bitcoin’s four connected jobs
04:40 Consensus and who gets paid
06:28 What pool mining taught me
06:54 The security bill
08:10 OG Miner on Bitcoin’s economics (@JerkTerror)
08:27 Pearl’s launch curve
09:42 Bitcoin and AI had a kid
12:45 ORE changed the distribution
14:24 Keep the ledger, change the rules
15:18 A compute service on an existing chain
16:11 Shared Infra > Reinventing the wheel
16:38 What does the extra network buy?
17:01 The strongest objection
17:36 Build a fire escape
19:44 Who can compete with the capital?
21:32 BONAFIDE
22:25 Design the money first
22:59 Back to the truck
23:45 Odometers are not a great way to distribute a world-reserve currency
Seeker User ⛏️ retweeted
“A good defense survives the storm. A great defense gets stronger because of it.”
Lovely article from @pokerchessman utilizing Roman history to paint the picture of why the ORE Reserve is modeled the way it is. Fun read!
Seeker User ⛏️ retweeted
looks like we need a defi-native SoV that incentivizes you to stay onchain
who's building this?
Seeker User ⛏️ retweeted
"Proof of work works against distribution of a currency." — @KEMOS4BE
What went wrong with PoW?
In Kemo's view, the growing advantage of sophisticated miners works against fair distribution.
ORE replaced computational proof of work with virtual mining, opening participation to anyone with a @solana wallet.
Watch "Proof of Work is Dead & Bitcoin Killed It" below.
Seeker User ⛏️ retweeted
How does the ORE Reserve build liquidity?
As protocol revenue flows into the Reserve, funds are deployed across multiple assets and price ranges below the current ORE price.
@HardhatChad explains how these layers of liquidity accumulate over time.
Since this recording on October 1st, the Reserve has grown more than 5x, from $104K to $539K, and added two productive assets, JitoSOL and USDv.
Seeker User ⛏️ retweeted
Imagine that solana:oreoU2P8bN6jkk3jbaiVxYnG1dCXcYxwhwyK9jSybcp mining becomes so big that nations compete for that scarce 3 millions-only tokens.
Now imagine you yourself owning a single solana:oreoU2P8bN6jkk3jbaiVxYnG1dCXcYxwhwyK9jSybcp ⛏️
Seeker User ⛏️ retweeted
A few thoughts: the positives of $ORE being on Solana vastly outweigh any negatives. Native composability is a feature, not a bug. As Solana wins, and it will, ORE will win. And ORE still solves the original problem Bitcoin set out to solve: the debasement of money.
Seeker User ⛏️ retweeted
“Another 1,171 wallets mined ORE for the first time during this period, as more people discover virtual mining”
🔥
A clear trend is forming with ORE mining volume.
ORE enters circulation exclusively through mining, and recent activity suggests growing demand for newly issued ORE.
Over the past 45 days, $56M has been deployed into virtual mining, with the 7-day average more than doubling from $724K to $1.58M per day.
And it's not just volume. Another 1,171 wallets mined ORE for the first time during this period, as more people discover virtual mining.
Fair distribution is taking shape on @solana.
Seeker User ⛏️ retweeted
The ambition of solana:oreoU2P8bN6jkk3jbaiVxYnG1dCXcYxwhwyK9jSybcp is unparalleled.
HHC says #1 or bust.
The miners live and breathe that ideology.
Being the best SoV in the world is the mission.
A $100T opportunity.
Buy ORE. Mine ORE. Covet ORE.
Seeker User ⛏️ retweeted
I’ve been in $ORE for 8 months now and I haven’t seen any bearish post about the project
The @ORE team is so transparent that no one can find any bad actors on their operations and that’s why we love $ORE and strongly believe it’s one of the best token on Solana blockchain with massive love and support from solana team themselves
Seeker User ⛏️ retweeted
a year ago the knock on $ORE was "that's not mining, that's a casino."
bitcoin mining is a lottery too. you burn electricity for a random chance at the block, and the ticket price is your power bill. pools exist because the variance is brutal.
ORE kept the lottery and dropped the power plant. the ticket price goes to stakers and buybacks instead of a utility company.
the "casino" critique was describing the design. that's the part that was ahead of its time.
ORE is early
I like @ORE man, it's cool. Piece on it later today.
While it doesn't have PoW or even own its own consensus, arguments resonate about it being a response to inaccessibility of mining (home miners are not realistic, sad) AND being a cultural foil to Solana (SoV in a land of quick flips).
Seeker User ⛏️ retweeted
Now you can long or short $ORE
And I believe more perp DEX will continue to support @ORE to get more visibility exposure
$ORE perpetuals are first on Phoenix.
@ORE is proof-of-work on Solana. Anyone can mine it, and supply is capped at 3 million tokens.
phoenix.trade/ORE
Seeker User ⛏️ retweeted
It feels like $ORE may have hit that tipping point where an idea has enchanted a critical mass of people, that initial network effects are beginning to form.
It will be interesting to see whether ORE's democratized approach to mining accelerates the flywheel faster than previous SoV attempts.
Seeker User ⛏️ retweeted
Wrote about how @ORE works, whether it can be considered a store of value, and what it's strongest case "for" being a SoV may be.
Seeker User ⛏️ retweeted
Proof of Work is Dead & Bitcoin Killed it
–––––––––––––––––––––––––––––––––––
00:00 PoW: A Very Expensive Parade
01:55 What Satoshi built
02:47 OG Developer on early Bitcoin (@xer0c)
03:15 Bitcoin’s four connected jobs
04:40 Consensus and who gets paid
06:28 What pool mining taught me
06:54 The security bill
08:10 OG Miner on Bitcoin’s economics (@JerkTerror)
08:27 Pearl’s launch curve
09:42 Bitcoin and AI had a kid
12:45 ORE changed the distribution
14:24 Keep the ledger, change the rules
15:18 A compute service on an existing chain
16:11 Shared Infra > Reinventing the wheel
16:38 What does the extra network buy?
17:01 The strongest objection
17:36 Build a fire escape
19:44 Who can compete with the capital?
21:32 BONAFIDE
22:25 Design the money first
22:59 Back to the truck
23:45 Odometers are not a great way to distribute a world-reserve currency