#Bitcoin will change the world more than most of us can comprehend or even imagine. For the better. I cover Bitcoin only.
The Netherlands
Joined February 2014
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The Bitcoin Promise retweeted
Is it odd that Blackrock plainly describes bitcoin as money and currency but bitcoin treasury companies feel the need to create narratives about digital capital, digital credit and needing to turn bitcoin into money via fiat instruments?
The Bitcoin Promise retweeted
I appreciate this response. Genuine good-faith engagement has been painfully scarce in response to my articles.
I don't think there's a single technical fix. Better processes, greater transparency around funding and conflicts of interest, and more independent implementations would all help.
But a big part of the remedy has to come from the social layer.
People need to start engaging seriously with well documented criticism instead of reflexively attacking the messenger, questioning motives, and treating scrutiny of influential Bitcoin institutions as an attack on Bitcoin itself.
That's how informal power in Bitcoin imo has become entrenched and unaccountable.
A system's resistance to capture depends on people being willing to scrutinize power, especially when it's exercised by people and institutions they trust.
I appreciate you doing exactly that here.
The Bitcoin Promise retweeted
Must read, of course.
Hodlonaut has done painstaking research into the inner working of Bitcoin Core, including many uncomfortable issues or governance.
In my view, Hodlonaut has been the paramount of journalistic integrity, seeking comment from those he's covering. And, for matters of public record, he's shining a light on issues that bitcoiners might not be aware of.
Read the series for yourself and come to your own conclusions. And, hopefully, some lessons can be learned and taken forward.
CAPTURE Part 4: THE MACHINE
The fourth and final installment is out.
Bitcoin Magazine wasn’t just covering the fight over Bitcoin’s future. Its parent operated an Ordinals trading desk, invested in businesses tied to the ecosystem, and maintained editorial policies that exempted parts of that same business.
Then came an $80,000/month marketing contract, with an option for Nakamoto Inc. to buy BTC Inc at a valuation tied to its earnings, in a window that included the OP_RETURN fight. Nakamoto exercised the option.
Readers were not consistently told about these commercial relationships.
A documented investigation into the commercial interests and media infrastructure surrounding the Bitcoin Core controversy.
citadel21.com/the-machine
The Bitcoin Promise retweeted
I can't ignore the irony.
People who support Spamcoin keep asking us, "If BTC is no longer Bitcoin, why have you not gotten rid of it?"
Fair question.
There is no reason why I should get rid of my BTC today. It could continue to rise in fiat terms for months to come. I'll sell when the right moment arrives. I hold onto BTC for the same reason I keep some cash: it still has utility.
My DCA and mining are carried out on Bitcoin using BLAKE2b.
Let me turn the question around.
If you are completely sure BLAKE2b Bitcoin has no value, why haven't you gotten rid of your holdings?
That's when things become interesting.
Because selling it means closing the door, and somewhere in the back of your mind is that uncomfortable question:
What if they’re right?
Suppose you sell your Bitcoin at a low price today, see us gather it up, and then, years later, find yourself having to buy it back at a price you never expected.
Perhaps the fear of future regret helps explain what we are seeing: while many people ridicule Blake2b hard fork, surprisingly few are willing to put their coins where their mouths are. Liquidity is still not available.
So please, dump it.
Offer us the cheap Bitcoin that you claim you do not want; transfer it from the hands of those who are oriented towards fiat to the people who still believe that Bitcoin was intended to be a monetary revolution and not just another asset taken in by the system it sought to challenge.
You want our BTC.
We want your Bitcoin.
The point is, we are not afraid to tell you which one we're collecting.
#Bitcoin #XBT #BLAKE2b #Decentralization bitcoin:native
The Bitcoin Promise retweeted
To all Bitcoiners and Beyond:
Dear Bitcoiners, shitcoiners and beyond,
If you held BTC before block 961,640, you already own XBT.
No buying, no swapping, no pitch. It's already yours.
Here's what XBT is, and why some of us think it's closer to what Bitcoin was meant to be. 🧵
The Bitcoin Promise retweeted
Funny how my gut feeling works every single time.
I can smell rats a mile away.
When community was collecting donations to buy Dave a Start9 server, I didn't comment at all, because something was off at that point already.
I unfollowed him after his post, asking what it takes, to become an influencer.
I hate attention whores.
Good summary, Matt !
The Bitcoin Promise retweeted
@mattkratter
Ive been following you for 6 years. Listened to every video.
What I respect most is the ethics and character never shifted. Ego didn't grow with the channel or followers. Watch an old video next to a new one and it's the same tone, same principles, same standard.
The Bitcoin Promise retweeted
We could have all benefited by listening to @mattkratter more. Myself included.
Sad state of affairs. Hope the damage is mitigated and we can all learn something from this.
youtu.be/QAzFT0F8fCE?is=bNIl…
The Bitcoin Promise retweeted
“They would have earned a lot more money”. Oh yeah, they were under compensated. I have seen enough and am calling for it right here. Boycott Bailey’s Bitcoin show. Let’s see if we can’t run this clown out of the industry. We need to be self policing as an industry. No money into his pockets.
The Bitcoin Promise retweeted
It sounds retarded but bitcoiners should already start working on new PoW algo and keep everything ready.
As soon as Alphapool starts attacking bitcoin, we will fire them with new PoW algo change.
Always remember that nation states/Zionists/coretards/pedos have money printer and sovereign plebs have nodes.
We will keep changing POW algo until their money printer stops working to PSYOP normies.
IT WILL BE VERY LONG GAME TO SEPARATE THE MONEY AND STATE AND YOU CAN NEVER WIN THIS GAME BY BEING PUSSY LIKE CORETARDS/SPAMMERS/NPC BITCOINERS.
START NORMALIZING POW ALGO CHANGE UNTIL WE SEPARATE THE MONEY AND STATE
LONG LIVE BITCOIN ♥️
The Bitcoin Promise retweeted
Is it possible that the CEO of the company that was just hacked for 600 Bitcoin (Circa $50M) has nothing to say?
No updates?
No personal statements?
No tweets since the 2nd of September?
Seems weird at best, unprofessional for sure.
Hope everything is OK.
The Bitcoin Promise retweeted
Watching the 2018 Samson Mow vs. Roger Ver debate again is a fascinating lesson in what happens when ideology becomes an investment strategy.
Roger was so convinced that BCH represented the “real Bitcoin” that he publicly said he had sold the majority of his BTC for more BCH.
Think about the magnitude of that decision from one of Bitcoin’s earliest whales.
And this is where two things can be true at the same time:
Bitcoin Core can be deeply flawed.
You can believe Bitcoin was pushed away from the original peer-to-peer cash vision.
You can believe bigger blocks deserved a fair shot.
You can even believe BCH is technically better suited for everyday payments.
And STILL recognize that BTC’s NGU thesis has been brutally, undeniably real.
Ideology does not control markets.
Markets do not care who won the debate.
BTC captured the monetary premium, the liquidity, the institutions, the brand, the security budget and the global “digital gold” narrative.
That matters.
Putting everything into one outcome because you believe you are philosophically correct can destroy you financially even if parts of your argument are correct.
Roger may have been right about some of Core’s problems.
That did not make BCH the winning monetary asset.
There’s a gigantic difference between:
“I think this protocol is better.”
and
“I’m betting my entire fortune that the market will eventually agree with me.”
Never confuse conviction with certainty.
I can criticize Core all day long while still believing BTC’s NGU machine is very real.
$1 million BTC.
Then perhaps $10 million.
And in a sufficiently monetized Bitcoin world, even $100 million is not conceptually impossible.
Whether those numbers ever arrive is unknowable.
But the lesson from 2017–2018 is timeless:
You don’t have to worship BTC to respect what the market has chosen.
And you don’t have to hate BCH to recognize what the market rejected.
Two things can be true at once.
The Bitcoin Promise retweeted
Lots of things deter it happening again, actually. The most obvious being the precedent. But also BLAKE2b isn't vulnerable to ASICBoost, is simple enough for a competitive manufacturer market to form, etc. And RDTS closes the threat of approved data storage. Spam filters continue to work for everything else.
Changing the PoW is long overdue based on technical reasons alone. Bitcoin only stuck with it this long because miners were cooperating. I didn't want things to go down this way, but it has provided a huge opportunity to address many long-standing technical problems with it.
The new fork is Spamcoin, not BLAKE2b. BLAKE2b was deployed with consensus, and remains the same Bitcoin as Bitcoin always was. Spamcoin offers nothing - it lacks all the important properties Bitcoin has.
The Bitcoin Promise retweeted
A paradigm shift is needed. What are we fighting for? To preserve Bitcoin SHA-256? I don't think so. Bitcoin SHA-256 is just a tool. Although I must admit it's a tool with massive accumulated network effects. But let's get back to basics. We are fighting for financial sovereignty, separating money from the state, peer-to-peer electronic cash, and freedom to transact. Those are the things we are fighting for.
In case you haven't noticed, Bitcoin SHA-256 as a collective has all but abandoned these goals. Sure, people chant mantras, but they're not backed by serious action. The prevailing talking heads actively try to redefine Bitcoin and rarely mention the real objectives worth fighting for. Just days after BIP-110 failed on the SHA-256 chain, talk of tail emissions and demurrage re-emerged. I predict those items will continually be tested until the original Bitcoin ethos is sufficiently diluted and they can be implemented.
@LukeDashjr is choosing to fight for the underlying principles Bitcoin SHA-256 was built to address. He's doing that via the Blake2b fork after attempting to bring Bitcoin SHA-256 back on track. You and others insulting him by saying he's 'taking his toys and leaving' is a gross mischaracterization and warrants a serious apology. Just because you don't share his vision or recognize the capture doesn't mean his motives are impure or he's taking the easy way out. I would venture to say he's willing to put his money where his mouth is, make a great personal sacrifice, with the vision and mission to preserve Bitcoin's foundational ethos.
Go ahead, resort to name-calling and other forms of insults. Add me to the list of those crazy people who think Bitcoin's founding principles are the real battlefront, not Bitcoin SHA-256. I'm in great company with @loogart, @GrassFedBitcoin, @mattkratter, @cguida6, @Roughnecks110, and countless others.
I've said it before; I'll say it again. It takes a unique individual to sacrifice and move toward the greater good despite personal risk and loss. Satoshi set a pretty selfless example with his work and the untouched Bitcoin he left as a bounty. The risk of failure for Bitcoin Blake2b is very high and very real. The risk of failure for Bitcoin SHA-256 is much higher than you think.
Again, what are you going to do to fight to preserve Bitcoin's founding principles? Or do you already believe the prevailing narrative on SHA-256?
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The Bitcoin Promise retweeted
In Atlas Shrugged, 1% moved to Galts Gulch & the other 99% collapsed.
In bitcoin, 10-20% moved to Blake.
The numbers don't matter, it's the WHO that matters. The most competent and least corrupted moved to Blake.
Have fun staying core.
🤖 Made with AI
The Bitcoin Promise retweeted
This isn’t BCH, BSV...
Blake2b is the first hard fork in Bitcoin history that tightens the rules instead of loosening them.
It fires the centralized miners, kills the CSAM loophole, and restores Bitcoin as money-only.
Pure rejection of abuse.
Blake2b is the real Bitcoin.
The Bitcoin Promise retweeted
Kratter isn’t krass enough, I think legacy Bitcoin has lost its soul, and that many of the smartest, most interesting people with high integrity has shifted their support to the BIP-110 chain.
I believe this new competition in the end will be very good for Bitcoin core, because what else than competition will force its supporters to start cleaning house?