Gold collapsing. Bitcoin UP.

[79b79aa8]

to properly answer that you'd need to know what money is.

a better question would be:

Are the digital assets commonly referred to as 'cryptocurrencies': (a) commodities; (b) securities?

is clarity in monetary questions too much to expect of the international monetary fund?

 

[Zarathustra]

As long as it is not generally accepted as payment for debts (contracts, taxes), it is not money. It's a liquid commodity, but the BTC version, limited at 300'000 txs/day is not liquid. BCH and ETH as well.

 

[Zarathustra]

Monetary policy continues to disproportionately favor investment firms and banks. No wonder the Fed begs for more fiscal policy :

BlackRock Profit Rises 19% as Assets Surge to $8.7 Trillion

The investment company’s quarterly profit rose 19% as investors turned to the money-management giant’s funds through November’s election uncertainty, vaccine breakthroughs and a year-end rally.

www.wsj.com

The world is turning Japanese.

 

[lunar]

Shhh


hodl nought

 

[AdrianX]

That whole mess could have been avoided if CSW's ego didn't get the better of him when interviewers asked tough questions. Rather than emotionally attack interviewers he could have calmly explained to them how bitcoin and privacy work.

The result of losing one's temper when asked a stupid question does not educate people, it drives them away thinking they were attacked for no reason.

Being correct or "right" in this case does not undo the PR damage done to the ignorant party or the audience who witnesses ignorance being attacked eg the Peter McCormack interview.

Law can prove you are correct in court, but what is winning worth is it has no benefits (other than a win for an ego) justifying the motives after the fact just proves it was the wrong action.

PS putting a list together called the "Crypto Crime Cartel", is literally doing what CSW was suing for, defamation.
The list to sound impartial could say "The suspected Crypto Crime Cartel" less impactful but also less polerising.

 

[79b79aa8]

interesting. note that the ruling (as i understand it) is mostly on matters of jurisdiction, not on the substance of the defamation claim.

Law can prove you are correct in court, but what is winning worth is it has no benefits (other than a win for an ego)

due process takes time. this is a preliminary step in a full legal strategy, which would hardly be undertaken across courts in no fewer than three jurisdictions if it rested on weak merit. in addition to being enormously expensive, that would expose to serious legal liability and great financial risk.

 

[bitsko]

wen law

 

[Zarathustra]

 

[AdrianX]

this is a preliminary step in a full legal strategy,

Sounds a little like "has electrolytes", I'm not thinking this strategy is being executed all that well. I'm not feeling as confident about it succeeding as CSW was in 2020 "This Year" I can't see it actually benefiting anyone.


I guess I'll just grab some popcorn and see what happens. I personaly would be focused on building and proving people wrong in reality, as aposed to winning barging rights in court.

 

[Bloomie]

I actually hold BSV, not because it has a great future as a currency but because it's pumped by one of the greatest bullshitters in the world. It may well pump to $1,200 and beyond.

 

[bitsko]

craig wright being satoshi is overblown, late, and generally over valued by supporters in my opinion.

lets see if im wrong.

does 'craig wright is satoshi' have the potential to change BTC investment to BSV? I dont think so. Over time less and less.

consider that even if craig wright is satoshi; he is still completely craig wright

 

[Zarathustra]

craig wright being satoshi is overblown, late, and generally over valued by supporters in my opinion.

lets see if im wrong.

does 'craig wright is satoshi' have the potential to change BTC investment to BSV? I dont think so. Over time less and less.

consider that even if craig wright is satoshi; he is still completely craig wright

Yes, but then the whole world would know that the inventor of Bitcoin says BTC is not Bitcoin, and that will have a huge or decisive market influence on BTC and BSV. Right now, 99% of market participants believe that Craig Wright is a con man. If he proves otherwise in court, it will have a huge impact on investors' decisions.

 

[79b79aa8]

. . . or one could make a long-term bet on the tech that works.

speaking of which, has the council of BCH developers signaled intent on scaling plans? or is the idea still to track self-generating demand?

meanwhile BCHA devs still making north of a grand per day, more if they've been converting to BTC and riding the bubble.

 

[bitsko]

Yes, but then the whole world would know that the inventor of Bitcoin says BTC is not Bitcoin, and that will have a huge or decisive market influence on BTC and BSV. Right now, 99% of market participants believe that Craig Wright is a con man. If he proves otherwise in court, it will have a huge impact on investors' decisions.

why would that change the investors decisions at this point in 2021?

did the most recent investors seek out a micropayments system and settle on a digital gold meme distributed through trusted third parties?

no, they sought out a digital gold meme distributed through trusted third parties first and foremost, micropayments being an afterthought at best; something that might be cool as an added bonus.

Post automatically merged: Jan 16, 2021

that's to say I believe the majority of capital in BTC; if it was fully aware of BSV and its goals, would not switch just because craig wright had some good ideas over a decade ago.

Post automatically merged: Jan 16, 2021

I really like Craig Wright I find him an incredibly fascinating genius and consider him a teacher.

Today, if he proved he was satoshi nakamoto irrefutably i'd value add BSV about $800/token.

By the time it happens if it does, end of 2021, into 2022, craig as satoshi worth about $350 extra per token imo.

 

[Zarathustra]

why would that change the investors decisions at this point in 2021?

did the most recent investors seek out a micropayments system and settle on a digital gold meme distributed through trusted third parties?

no, they sought out a digital gold meme distributed through trusted third parties first and foremost, micropayments being an afterthought at best; something that might be cool as an added bonus.

Post automatically merged: Jan 16, 2021

that's to say I believe the majority of capital in BTC; if it was fully aware of BSV and its goals, would not switch just because craig wright had some good ideas over a decade ago.

Investors are followers. As soon as it is known who is Satoshi, they will follow and listen to Satoshi. Nobody will listen to Adam Back, Roger Ver or Vitalik Buterin anymore.

 

[bitsko]

Im not so sure Zarathustra, its an easy narrative to disown satoshi and those investors have their bags which influences their thinking.

Post automatically merged: Jan 16, 2021

at this point, its really fucked up, and sad to say; segwit is the original bitcoin

 

[79b79aa8]

i tend to agree with @bitsko except for this: that a digital gold asset put in custody by third parties and capped at 7 tps could easily see its price drop drastically with little to stop the hemorrhage. current price is based on perception, not fundamentals. we know this full well, as we worked years ago to build up that perception, only to watch in dismay how the underlying tech was intentionally hobbled while the supporting narrative was adjusted down by newcomers.

tether might be dismantled, the bears might come out, investors-cum-followers might panic, and suddenly owning a password could be worth a lot less money.

meanwhile BSV stands or falls on real world adoption. the solving of the satoshi mystery will come and go -- or not. from an investor standpoint what matters most now is not so much the clarification of what may have happened 12 years ago, but evaluating whether nChain/TAAL are correct in that the adoption driver is not point of sale but rather big data/micropayments.

 

[AdrianX]

Investors are followers.

FT;FU Speculators looking to preserve wealth are followers. They are saving at best and hoping the asset goes up in value.

Investors are actually investing putting capital to work to create income they have capital at risk to earn a return.

Investing (doing) is proactive vs Saving (aka HODL) is passive.

Post automatically merged: Jan 16, 2021

whether nChain/TAAL are correct in that the adoption driver is not point of sale but rather big data/micropayments.

I'm not convinced they are correct either, you need a multi-pronged approach, there is no silver bullet. I do know there is no room for fundamentalism which includes trusting implicitly in Law.

The most valuable trait in nature that spurs evolution is adaptability. Bitcoin is like gravity, sunlight and DNA etc, those fundamentals are like the protocol, they remain constant for life to evolve.

Picking bitcoin is like picking the best set of rules to allow life to evolve, very easy to see after the fact, not so easy at the beginning.

 

[Zarathustra]

Is Calvin Ayre an investor or a speculator? Perhaps both, but he follows Craig Wright.

Since the BSV protocol is orders of magnitude better than that of BCH and BTC, I would not rule out that this fact alone will sooner or later collect the investors and the swarm. A mainstream announcement: "*** Breaking! The inventor of Bitcoin, Satoshi Nakamoto is alive and well, and he is working on the Bitcoin SV project!" *** would be the immediate starting signal for one of the greatest 3-day reallocations of value of all time.

 

[xhiggy]

craig wright being satoshi is overblown, late, and generally over valued by supporters in my opinion.

lets see if im wrong.

does 'craig wright is satoshi' have the potential to change BTC investment to BSV? I dont think so. Over time less and less.

consider that even if craig wright is satoshi; he is still completely craig wright

Many people invest in BTC because it's called Bitcoin. All the culture, mythos, speculation about digital currency = Bitcoin for 99.9% of people. So, if BTC can't call itself Bitcoin, then that's a big hit for it, and a big win for BSV.