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Bitcoin is a Cult

adamcaudill.com

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Re: Bitcoin is a Cult

#221

Post by bitcoinisqueen »

askmike wrote: post #86
shiado wrote: post #44

Earlier quoted context omitted.

If you want to read an interesting story read this. https://old.reddit.com/r/BitcoinMarkets/comments/6rxw7k/info...

Pretty biased story, sounds like it was Blockstream against everyone else (it wasn't). Most people on the mailinglist thought it was dangerous to increase the blocksize, not just people who worked for Blockstream. > Some of the employees of Blockstream also put forth some proposals, but all were so conservative, it would take bitcoin many decades before it could reach a scale of VISA. I hate to bring it to you, but n…

See Terab: Terabyte blocks in Bitcoin Cash.

We will reach visa scale, sooner than you think. Then we will reach global scale at 7M tx/second.

Watch us

Re: Bitcoin is a Cult

#222

Post by bitcoinisqueen »

SlowRobotAhead wrote: post #60
Synaesthesia wrote: post #51

When I first got into bitcoin I thought it could be a wonderful alternative to the current monetary system, I especially hoped it would be more equitably shares. Unfortunately it’s turned out to be as unequally shared as our current wealth is, if not more. Perhaps some kind of coin where everybody in the world is issued the same amount or something.

> Perhaps some kind of coin where everybody in the world is issued the same amount or something. That’s an interesting idea for how a currency would work and I’m half tempted to ask you to explain if everyone had the same where is the value in it... but more tempted to suggest you develope a currency based on human fingers as most of us start with the same number.

80% of people will spend/lose money right away.

The reason people have no money, is because of the power of their habits and their lack of imagination and discipline.

Money is merely s measurement tool that reflects your captured reciprocal altruism (or piracy of course).

Tons of "poor people" regularly blow $100's/month on drugs such as caffeine, tobacco, beer or even illegal drugs and lottery tickets.

Others will extend themselves with shiny clothes and new cars.

It's frankly hilarious and apalling at the same time.

Primary reason: predatory governments who make you spend 12 years in school and teach little to nothing of finance/value creation.

Re: Bitcoin is a Cult

#223

Post by simias »

jhobag wrote: post #204
simias wrote: post #113

Earlier quoted context omitted.

>Even the most critical observer must concede that these distributed networks are novel and interesting. Frankly that's besides the point these days. Lurk in cryptocurrency subreddits for a while and see that hardly anybody talks about the technology anymore, it's all about "memes" and very dubious projections. Things like this for instance: https://i.redditmedia.com/51566F6-xO0zIBDD7HzYRZyEGhDpMqQpAr... (fresh off t…

you're using r/bitcoin as an example? one of the most well known cryptocurrency subs for toxicity and juvenile mods

Doesn't really matter for the community mindset I'm talking about. See /r/btc/, /r/cryptocurrency and dozens more, it's mostly discussions about the price of cryptocurrency, dubious long term projections, memes and very little technical discussion.

Even articles about a potential application of Blockchain technology are generally met from an angle of "what coin is this going to pump?" See for instance: https://www.reddit.com/r/CryptoCurrency/comments/8ti8z9/thek... . Nobody talks about anything besides trading.

Re: Bitcoin is a Cult

#224

Post by askmike »

shiado wrote: post #191
askmike wrote: post #86

Earlier quoted context omitted.

Pretty biased story, sounds like it was Blockstream against everyone else (it wasn't). Most people on the mailinglist thought it was dangerous to increase the blocksize, not just people who worked for Blockstream. > Some of the employees of Blockstream also put forth some proposals, but all were so conservative, it would take bitcoin many decades before it could reach a scale of VISA. I hate to bring it to you, but n…

I definitely agree about Bitcoin and scaling, as anybody who can do napkin math would realize that increases in block size to scale to a level of transactions/second competitive with a credit card network would cause the blockchain to grow at a catastrophically unsustainable rate. Bitcoin Cash imho offers absolutely nothing of value because it runs up against the exact same technical problems. Think of it like slight…

> bitcoin claims to be this decentralized democratic technical project where anybody can contribute

Where is this claimed? The technical project is just another open source project, not very decentralized. The idea of bitcoin is that you (the user) can decide what software you want to run, if you don't agree with rules imposed by a certain software project you not run it or run an older version. This (as well as how the network works) is decentralized. Ofcourse Reddit and other social media channels are not decentralized, and neither is development of the different node implementations.

I don't think there exists a way to collaborate on any technical open source project in a truly decentralized way. I love to be proven wrong, do you know any project that is? So no BDFL (Linus, Guido), no foundation and actual decentralized contribution?

Re: Bitcoin is a Cult

#225

Post by Graham24 »

code_duck wrote: post #187
matthewwiese wrote: post #166

Earlier quoted context omitted.

Hah! That is incredibly endearing. I've also had friends remark (more joking than serious) that if you happen to glance at a clock that reads 11:11 to make a wish because it's lucky. I have obsessive compulsive disorder, so unfortunately these cosmic peccadillos really throw my brain for a loop!

I've seen the 11:11 and 1:11 come up a lot in random people's Facebook posts and memes. Or, driving around, they'll tell you to make a wish.

probably to do with Armistice Day.

Re: Bitcoin is a Cult

#226

Post by woogiewonka »

simias wrote: post #223
jhobag wrote: post #204

Earlier quoted context omitted.

you're using r/bitcoin as an example? one of the most well known cryptocurrency subs for toxicity and juvenile mods

Doesn't really matter for the community mindset I'm talking about. See /r/btc/, /r/cryptocurrency and dozens more, it's mostly discussions about the price of cryptocurrency, dubious long term projections, memes and very little technical discussion. Even articles about a potential application of Blockchain technology are generally met from an angle of "what coin is this going to pump?" See for instance: https://www.re…

I suspect a large number of comments across any crypto sub are from fake accounts - marketing teams, account farms, team members themselves. The level of fraud and scam in crypto now is so high, it's hard to distinguish genuine comments from fake stuff.

Re: Bitcoin is a Cult

#228

Post by mike10010100 »

sgt101 wrote: post #79
jonhendry18 wrote: post #48

Earlier quoted context omitted.

"No crypto in it's current state is liquid enough for any serious moving of money" It's more liquid than real estate, which is widely used for money laundering.

I don't think so. If someone put 5K BTC up for sale on one day the price of the whole market would be disrupted, but similar sales happen in London and New York every day and the market seems unbothered.

> If someone put 5K BTC up for sale on one day the price of the whole market would be disrupted

https://techcrunch.com/2018/01/15/researchers-finds-that-one...

Re: Bitcoin is a Cult

#229

Post by swfsql »

phobosdeimos wrote: post #182
swfsql wrote: post #156

Earlier quoted context omitted.

Venezuela citizens didn't lose any money? are you serious? So you must be happy, since most Venezuelans may be millionaires now! (but let's just forget about the fact that 1M+ from their currency is valued as less than a dollar; and that this value loss have destroyed their lives)

Venezuela is irrelevant to the situation in most of the world, its an outlier. Thats why it is a stupid argument for bitcoin. It would be like preparing for volcanoes in Denmark. Besides they are using USD and foreign banks in Venezuela not crypto currency. The rich in Venezuela haven't lost a cent I am willing to bet. And last but not least: bitcoin doesn't solve a single systemic problem Venezuela has. Its a corrup…

>Venezuela is irrelevant (..)

so are your thoughts about Bitcoin from their (those whose lives were saved because of cryptos) point of view, obviously.

>Besides they are using USD

A few may. But in such violent place, saving cryptos is cheaper than saving in any (physical) cash. Easier to trade as well, since banking is not THAT accessible and illegal USD trading have its safety's costs.

>bitcoin doesn't solve a single systemic problem Venezuela has.

all fiat is a systemic problem. According to Austrian School of Economics. Don't get me wrong, I'm not appealing to authority or anything. This is not meant for you. Someone might read our comments, care to actually know what's going on and look further into it.

Re: Bitcoin is a Cult

#230

Post by odonnellryan »

SlowRobotAhead wrote: post #210
sparkie wrote: post #118

Earlier quoted context omitted.

The shit you read on reddit is full of conspiracy theorist nonsense, and completely detached from Bitcoin development. Development is done and discussed in the open on mailing lists, github etc, and is subject to community review. There's a process outlined in BIP2 for any (non-trivial code) changes to the Bitcoin Core software. Of course, anyone can fork the software and make complaints publicly if there was malicio…

I didn’t read anything on reddit. If you believe bitcoin can’t be crashed by a handful bad actors I fully encourage you to put your 401K in.

Such a stupid argument.
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