1/16) BTC is doomed to lose its dominant position in market capitalization
This will make bitcoin maximalists even more toxic over time
Due to the cognitive dissonance this causes; increasing religiosity & irrationality
An inevitable consequence of both BTC's & humanities code
This will make bitcoin maximalists even more toxic over time
Due to the cognitive dissonance this causes; increasing religiosity & irrationality
An inevitable consequence of both BTC's & humanities code
2/16) The BTC community has a powerful & attractive ideology
That spreads like a virus, infecting people's lives with its dogma
I even agree with many of its principles; the problem lies with the BTC network not living up to these ideals
This mismatch is the cause of toxicity
That spreads like a virus, infecting people's lives with its dogma
I even agree with many of its principles; the problem lies with the BTC network not living up to these ideals
This mismatch is the cause of toxicity
3/16) Bitcoiners claim that BTC is the most secure & decentralized cryptocurrency
This could not be further from the truth, as Core dominates development; centralizing decision making
The more dysfunctional aspects of bitcoin maximalism cover up for this glaring inconsistancy
This could not be further from the truth, as Core dominates development; centralizing decision making
The more dysfunctional aspects of bitcoin maximalism cover up for this glaring inconsistancy
4/16) Even more concerning is that the long-term security model is completely unsustainable
Without any definitive answer for where the security budget will come from in a decade from now
Except for extremely far-fetched scenarios, which is not something we should be relying on
Without any definitive answer for where the security budget will come from in a decade from now
Except for extremely far-fetched scenarios, which is not something we should be relying on
5/16) Bitcoiners also claim that BTC is the best sound money
Yet, without capacity, it can never actually be used as money; it would take 70 years for everyone in the world to do just 1 TX!
Bitcoiners twist themselves into conceptual knots in an attempt to rationalize this fact
Yet, without capacity, it can never actually be used as money; it would take 70 years for everyone in the world to do just 1 TX!
Bitcoiners twist themselves into conceptual knots in an attempt to rationalize this fact
6/16) Completely forgetting why we do not use gold as money today
As gold lacks the transactional convenience of paper money, this is why we ended up replacing gold with promissory notes based on trust
This trust was gradually betrayed as the world abandoned the gold standard
As gold lacks the transactional convenience of paper money, this is why we ended up replacing gold with promissory notes based on trust
This trust was gradually betrayed as the world abandoned the gold standard
7/16) Bitcoin was supposed to be the solution to this problem as it did not require trust & could scale to support the world
However, Core pivoted BTC away from this original vision; completely transforming BTC's purpose
Yet, bitcoiners will tell you that BTC does not change
However, Core pivoted BTC away from this original vision; completely transforming BTC's purpose
Yet, bitcoiners will tell you that BTC does not change
8/16) The hypocrisy is mindboggling, as Satoshi Nakamoto's writing is public for all to see
Even the Bitcoin Whitepaper is abundantly clear about this fact, as it talks about BTC as an inexpensive payment system
It is even in the title: "A Peer-to-Peer Electronic Cash System"
Even the Bitcoin Whitepaper is abundantly clear about this fact, as it talks about BTC as an inexpensive payment system
It is even in the title: "A Peer-to-Peer Electronic Cash System"
9/16) Satoshi even went so far as to state that BTC could support an equivalent capacity to VISA
More than a decade ago! Yet, BTC is still stuck on 7-13 TPS...
The tragedy is that the original design of BTC would have worked!
It is the changes made to BTC that broke its design
More than a decade ago! Yet, BTC is still stuck on 7-13 TPS...
The tragedy is that the original design of BTC would have worked!
It is the changes made to BTC that broke its design
10/16) Bitcoiners will pull out the most abstract & weird arguments to counter what I am saying here
The fact is that if BTC was meant to scale & does not scale; it represents a huge change to its design
As it was this usage that was supposed to also support the security model!
The fact is that if BTC was meant to scale & does not scale; it represents a huge change to its design
As it was this usage that was supposed to also support the security model!
11/16) Without these fees, the only option left will be to increase BTC inflation beyond the 21M limit!
Destroying the SoV narrative that bitcoiners rely on to justify this madness
The worse the situation gets, the more extreme toxic maximalism has to become for those remaining
Destroying the SoV narrative that bitcoiners rely on to justify this madness
The worse the situation gets, the more extreme toxic maximalism has to become for those remaining
12/16) Throw desperation, false hope & cult-like thinking into the mix
You have a potent mixture that can only end in disaster
The best I can do is warn people of this reality, as I feel partially responsible; as a long-time advocate of cryptocurrency
Please think for yourself
You have a potent mixture that can only end in disaster
The best I can do is warn people of this reality, as I feel partially responsible; as a long-time advocate of cryptocurrency
Please think for yourself
13/16) Even though I did everything I could to fight BTC's decline & continue to do so
I do think BTC is too far gone now, with the alternative cryptocurrencies representing the opportunity to salvage the original vision of BTC
That is the gift Satoshi Nakamoto gave to humanity
I do think BTC is too far gone now, with the alternative cryptocurrencies representing the opportunity to salvage the original vision of BTC
That is the gift Satoshi Nakamoto gave to humanity
14/16) Stop squandering that gift, if you truly care about this movement
To support financial freedom, privacy & sound money; abandon BTC for the alternatives
That is the only way we can hope to repay Satoshi for his kindness, selflessness & wisdom
I will always be a bitcoiner
To support financial freedom, privacy & sound money; abandon BTC for the alternatives
That is the only way we can hope to repay Satoshi for his kindness, selflessness & wisdom
I will always be a bitcoiner
15/16) I hold these principles close to my heart, driving me to do what is best for Bitcoin
Even if that means going against BTC
Zen Buddhist monks have a saying; if Budha stands in the way of your enlightenment, cut him down
To me, this means putting principles before symbols
Even if that means going against BTC
Zen Buddhist monks have a saying; if Budha stands in the way of your enlightenment, cut him down
To me, this means putting principles before symbols
16/16) Fortunately, the alternatives have advanced by leaps & bounds
With more utility, security & decentralization
The future is bright outside of the narrow confines of maximalism
You can call me a scammer, liar & clown; I will not give up on the original vision of Bitcoin!
With more utility, security & decentralization
The future is bright outside of the narrow confines of maximalism
You can call me a scammer, liar & clown; I will not give up on the original vision of Bitcoin!
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