Cryptocurrency: The Four Great Fatal Flaws And Frauds Of Bitcoin, Africa Discovers
grarpamp at gmail.com
Sun Feb 26 11:13:45 PST 2023
As the all but certainty of the next big new all-time-high cycle peak
the debate is growing, and projects are coding... will the next ATH be
All that's needed is a simple coin with magnitude improvements to the
Guide on the Primary Corporation That Funded BTC Dev, Starting 2014
https://i.redd.it/q2650z68hkka1.png Blockstream's Evil Investors
https://www.youtube.com/watch?v=UYHFrf5ci_g Banks Hijacked Bitcoin LN Fail
It's important to understand that the primary corporate entity which
pushed the narrative that won the day, was founded and funded by some
pretty nefarious people. These people were the *seed capital* - that
is, the original monetary inputs which were used to start the company.
Twice now, the masses tried to adopt Bitcoin and couldn't. The
incremental cost to upgrade nodes was vastly overshadowed by extra
fees paid to miners instead. And LN at (appx) $200 per channel is not
an answer. I can't drop my life savings into an LN channel.
Besides which, dynamic blocks are needed just to facilitate onboarding
and prevent a Flood & Loot of LN anyways.
But I do wish to leave with something positive. If BTC merely adopted
dynamic blocks, I would probably support it again. Until then, all
that's happening there, is buying time for govts to push out their
CBDCs, while Bitcoin continues failing to be useful as global money.
What does this mean - "Twice now, the masses tried to adopt Bitcoin and couldn't
It refers to the network congestion and high fees from 2017 and then
again for 6-9 months during the most recent bull market.
2017 is debatable, that might've been more like an attack to
artificially inflate fees. It was a war after all.
But the most recent bull market was very clear. The network simply
couldn't support all of the people that wanted to onboard. I do like
LN, but there is a documented attack vector, which could steal funds
with a saturated main.
100M txns/year isn't enough to onboard or support global usage of LN.
I would very much like to support BTC again, and I used to be
maximal(ish). But the current onboarding/blocksize problem has
basically lost the initiative. Dynamic blocks are a way to
automatically adjust blocksize, to prevent spam, while expanding
capacity as needed.
So you think that these people are trying to sabotage Bitcoin?
Sadly, that's the only conclusion I can make. This despite being
maximal(ish) after the 2017 war. I slowly started realizing that, the
promised blocksize increase on the dev roadmap, would never come, even
though it was clearly needed.
I had to re-evaluate my paradigm, so I started looking for new and
even contradictory info.
I somehow love and hate this post at the same time
Thanks. I think that's a good description of my relationship towards
Bitcoin at this moment.
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