Gold collapsing. Bitcoin UP.
- Thread starter cypherdoc
- Start date
As someone that is not obese or out of shape and has covid-19, I can attest it is real and needs to be taken seriously. I am probably going to be okay and seem to be getting over it, but it's not fun. Anyone that says they are not spreading it is just plain simple in the head.
bitsko
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- Aug 31, 2015
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The Bit Short: Inside Crypto’s Doomsday Machine
This is the story of a Bitcoin trade — the most financially impactful trade I’ve ever made in my life. It’s also the story of the…
crypto-anonymous-2021.medium.com
Zarathustra
Well-Known Member
- Aug 28, 2015
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Yes, this flu is real and a bit more deadly than the average one, in the short run, and it is also a reality that politicians and voters are too cowardly to pay for these insane measures. They pass the damage on their children and grandchildren in the form of unpayable debts. Peak decadence. The sums are insane and hopeless. In a rainforest commune one would never, ever drive the commune into or to the edge of the abyss in order to prolong the dying process a little more for those who are already close to death. Such cowardice only exists in a hypercollectivist system without real solidarity. They cart people from nursing homes to hospitals and intensive care units and then complain about the chaos that arises from this idiocy. As if it was a win to 'survive' in such a situation. Collective suicide for fear of death.
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bitsko
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ah, the idea that one can legislatively un-name BTC is interesting, but I'm not sure how likely.
Are there prior examples of a product that became widely known under one name being forced to rename, and the resultant cultural change in language use?
do you think this heretofore unexecuted idea holds as much potential as it once did now that the narratives are so publicly divergent?
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it may sound odd; but sprite can be a type of coke
bitsko
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if segwit was a cotton swab with greater popularity and use than BSV( which was the actual Q-Tip); but everyone called all cotton swabs 'QTips', and the vast network of people who sold cotton swabs helped their users find the segwit ones, what would it matter if all the courts in the world made all the exchanges in the world remove 'Bitcoin' from the description of 'BTC'(which was still the cotton swab in this analogy with massive adoption and acceptance)
So, even if the renaming thing is a complete success this entire generation could continue to call segwit 'bitcoin', undeterred by the precise language of token sales operations.
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So, even if the renaming thing is a complete success this entire generation could continue to call segwit 'bitcoin', undeterred by the precise language of token sales operations.
79b79aa8
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- Sep 22, 2015
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i agree. BSV (or BCH or BCHA) will have to beat BTC the old fashioned way: at being a better product, and staying alive long enough to make that count. tough luck BTC abrogated the network effect. at the same time it's difficult to think that digital gold without the underlying tech is sustainable. as recent events have shown, an entire narrative, powerful as it might seem, can suddenly and radically shift. an asset whose value significantly rests on perception built on social media [insert metaphor here].
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bitsko
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- Aug 31, 2015
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If you build a system to economically incentivise all participants to behave rationally even if they are criminals (who, it is said are perhaps the most predictably rational, ignoring morality in favor of only the calculation), then I suppose it could be expected for those criminally minded to reinvent the system to best serve their interest. Particularly if large numbers of them were recruited early on under false pretenses.
And here we are.
2021; I'm calling segwit as too big to fail. More likely the institutions will carry a neutered mimicry of bitcoin to great new heights before they would shift their bags.
The irony given Bitcoin was supposedly meant to be a tracing trap for cypherpunks who kept trying to create anonymous internet money, that they might find succees in the theft and inversion of the meaning of bitcoin.
To shorten it up; it probably doesnt matter anymore who invented it, craig wright, if he did, also played with fire and has consistently been getting burned by it ever since.
scaling of BTC is completely irrelevant as long as the price of the IOU held in a third party database doubles every four years.
And here we are.
2021; I'm calling segwit as too big to fail. More likely the institutions will carry a neutered mimicry of bitcoin to great new heights before they would shift their bags.
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The irony given Bitcoin was supposedly meant to be a tracing trap for cypherpunks who kept trying to create anonymous internet money, that they might find succees in the theft and inversion of the meaning of bitcoin.
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To shorten it up; it probably doesnt matter anymore who invented it, craig wright, if he did, also played with fire and has consistently been getting burned by it ever since.
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scaling of BTC is completely irrelevant as long as the price of the IOU held in a third party database doubles every four years.
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79b79aa8
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- Sep 22, 2015
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true all that. but as that excellent crypto anonymous article you linked upthread lays bare, the USDT-BTC magic cannot go on forever. we'll see who comes out of the rubble with a working plan. doubling every four years by hook or crook is not a plan.
BTW, remember when finex lost at trading with customers's funds, ran out of cash, issued a tradable token that somehow represented a stake in a future rehabilitated company, managed to raise enough cash to pull out of the hole, bought the token back from whoever didn't lose it trading against them, and got away with the whole scheme? that's where they honed their skills. after that they came up with tether.
BTW, remember when finex lost at trading with customers's funds, ran out of cash, issued a tradable token that somehow represented a stake in a future rehabilitated company, managed to raise enough cash to pull out of the hole, bought the token back from whoever didn't lose it trading against them, and got away with the whole scheme? that's where they honed their skills. after that they came up with tether.
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OK, here's the deal. Scaling matters, we have about 5,000,000,000 economically active people who can benefit from sound money.
Sound money practically means they can engage in an honest exchange of labour, goods and services.
Money gets its value from the network effect. Metcalfe's law is a good way to see that, thanks, @Peter R
Investing in Digital Gold and then cashing out is an option, but in the BTC ecosystem it's about as screwed up as the existing financial system, BTC is as susceptible to corruption as Gold prior to 1971 and as manipulated as gold today. Access to teh token needs to be distributed. BTC can't practically be that digital gold. BCH or BSV can because they can be widely distributed and still remain liquid on-chain (aka in reality - not some L2 database). BTC could be that Digital Gold but not with a limit of 350,000 transactions a day.
No layer 2 system can fix that because Bitcoin needs transaction fees pegged to the velocity of money to pay miners.
But for BSV or any other coin to succeed it needs to overcome BTC's network effect, the brand identity is only a small part of it. When 1,000,000,000 adopt XYZ coin and call it Bitcoin the small minority say <100,000,000 who insist Bitcoin is not Bitcoin and BTC is Bitcoin become relevant. (I've seen this in practice try convincing people BSV is Bitcoin.)
To actually win this game you need to outperform BTC's network effect growth, if you damage Bitcoin's reputation you bring down all competitors.
The existing system does not have much going for it either, it underserved about 1,000,000,000 people realistically about 3,000,000,000 if you think young people under the age of 18-19, who are not allowed to use money online or a chequing account because they're not wise enough. So they are in reality not allowed to learn how to handle money in today's economy when they are young and have to wait until university to use money when they can legally be sold an unimaginable amount of debt that they can never default on let alone paid back.
So - grow the network win the name. If the BTC Ponzi goes down, the playing field is not going to be as favourable to Bitcoin given CBDC's and the "Great Reset" which is not a reset but more like a way for the cleptomaniacs to keep what they have taken.
Sound money practically means they can engage in an honest exchange of labour, goods and services.
Money gets its value from the network effect. Metcalfe's law is a good way to see that, thanks, @Peter R
Investing in Digital Gold and then cashing out is an option, but in the BTC ecosystem it's about as screwed up as the existing financial system, BTC is as susceptible to corruption as Gold prior to 1971 and as manipulated as gold today. Access to teh token needs to be distributed. BTC can't practically be that digital gold. BCH or BSV can because they can be widely distributed and still remain liquid on-chain (aka in reality - not some L2 database). BTC could be that Digital Gold but not with a limit of 350,000 transactions a day.
No layer 2 system can fix that because Bitcoin needs transaction fees pegged to the velocity of money to pay miners.
But for BSV or any other coin to succeed it needs to overcome BTC's network effect, the brand identity is only a small part of it. When 1,000,000,000 adopt XYZ coin and call it Bitcoin the small minority say <100,000,000 who insist Bitcoin is not Bitcoin and BTC is Bitcoin become relevant. (I've seen this in practice try convincing people BSV is Bitcoin.)
To actually win this game you need to outperform BTC's network effect growth, if you damage Bitcoin's reputation you bring down all competitors.
The existing system does not have much going for it either, it underserved about 1,000,000,000 people realistically about 3,000,000,000 if you think young people under the age of 18-19, who are not allowed to use money online or a chequing account because they're not wise enough. So they are in reality not allowed to learn how to handle money in today's economy when they are young and have to wait until university to use money when they can legally be sold an unimaginable amount of debt that they can never default on let alone paid back.
So - grow the network win the name. If the BTC Ponzi goes down, the playing field is not going to be as favourable to Bitcoin given CBDC's and the "Great Reset" which is not a reset but more like a way for the cleptomaniacs to keep what they have taken.
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xhiggy
Active Member
- Mar 29, 2016
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I'm not sure about the chance of success through the courts.
The problem I see with that analogy is that Qtips are simple, and Bitcoin is not. There is no such thing as a sophisticated or well informed buyer of Qtips.
If you couldn't market BTC as Bitcoin, I think it would change quite a bit. Everyone knows what a QTip does, there is no need to dig further into how QTips work in order to buy them. I don't need to query information based on the name QTip to be satisfied with my purchase. If PayPal/Square can't call it Bitcoin, and calls another asset Bitcoin that would be significant enough to change how people access the information informing their purchase. Since BTC is reliant on a perversion of information, it might be very effective.
I wouldn't hang my hat on it, but I can fathom why someone who may own the copywrite on Bitcoin would pursue it.
Making the news:
www.wsj.com
Before Suicide, French Programmer Made Bitcoin Bequests to Pro-Trump Groups
The FBI has been briefed on the mysterious transactions as it investigates potential foreign funding of far-right groups in the U.S., according to people familiar with the matter.
www.wsj.com
"a variety of right-wing causes" with all the nonsense in the media. 
"right-wing causes" can be anything right of transsexual men should have the same rights as women and you're right-wing and intolerant if you discriminate against them for using the women washroom.
But for those who think of right wings is akin to the Ku Klux Klan, as opposed to Mike Hearn's The political spectrum paragraph, that's damaging for Bitcoin.
In context, though, it's nothing on the trillions the US military has lost, or the billions in fines the banks have paid for laundering legal funds.
"right-wing causes" can be anything right of transsexual men should have the same rights as women and you're right-wing and intolerant if you discriminate against them for using the women washroom.But for those who think of right wings is akin to the Ku Klux Klan, as opposed to Mike Hearn's The political spectrum paragraph, that's damaging for Bitcoin.
In context, though, it's nothing on the trillions the US military has lost, or the billions in fines the banks have paid for laundering legal funds.
In other news:
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@Bloomie 
https://coingeek.com/craig-wright-is-enforcing-copyright-claim-on-the-bitcoin-whitepaper/
edited, Take your seats grab your popcorn, the show is about to begin.
https://coingeek.com/craig-wright-is-enforcing-copyright-claim-on-the-bitcoin-whitepaper/edited, Take your seats grab your popcorn, the show is about to begin.
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LOLing at cobra shitting himself: https://github.com/bitcoin-core/bitcoincore.org/pull/740
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2 things :
1. I look forward to establishing Cobra's identity; maybe has a *. gov email.
2. I look forward to CSW being perhaps forced to reveal the Satoshi pgp key or other blockchain cryptographic keys.
1. I look forward to establishing Cobra's identity; maybe has a *. gov email.
2. I look forward to CSW being perhaps forced to reveal the Satoshi pgp key or other blockchain cryptographic keys.
Oh, boy that came up rather quickly.
The image of this dog coming to terms with its new reality summed up the imagery for me @2:00
The image of this dog coming to terms with its new reality summed up the imagery for me @2:00
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