Everyone is so trusting of their currency, there’s no yardstick to measure it against until there is. Are you sure you’re on the shore looking at Bitcoin in the boat on the waves or are you in the boat looking at Bitcoin on the shore? It’s Fiat that’s dying. - ThreadSky

bitcoinbro.bsky.social • 28 days ago

Everyone is so trusting of their currency, there’s no yardstick to measure it against until there is. Are you sure you’re on the shore looking at Bitcoin in the boat on the waves or are you in the boat looking at Bitcoin on the shore? It’s Fiat that’s dying.

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davelefcourt.bsky.social•28 days ago

Not of question of trusting any currency. It’s all an illusion including Bitcoin. Bitcoin weakens American hegemony and as an American I enjoy that privilege. The only reason anyone is buying a token is because they believe it is going to make them rich.

bitcoinbro.bsky.social•28 days ago

That’s not true, the reason i choose to keep my value in bitcoin is to shield myself from debasement. Bitcoin rides atop the M2, there’s about to be a big print, you’ll see your value diminish (inflation) when that happens. I will not.

davelefcourt.bsky.social•28 days ago

What happens when quantum computers quickly mine (gamification)the remaining tokens? What happens when the powers behind this game do a secondary offering up to 34 million tokens?

bitcoinbro.bsky.social•28 days ago

That said, there’s a proposal already up for debate in how to re-factor for quant wallet resistance etc. We likely have 30-40 years at the rate things are moving, so we’ll likely move much faster than that to be ready.

bitcoinbro.bsky.social•28 days ago

The concern with Quant isn’t a matter of it mining out the remaining tokens very quickly, that really can’t happen due to the difficulty adjustment, Bitcoin’s protocol adjusts for that. The trouble would be a Quant wallet crack that would allow for holders to be hacked, something impossible today.

davelefcourt.bsky.social•28 days ago

The difficulty adjustment. Copy that. What happens when the powers that be decide to do a secondary offering?

bitcoinbro.bsky.social•28 days ago

Since bitcoin is proof of work, in order to take it over, make the kinds of changes you’re talking about it would take a sustained 51% attack against the mining / node operators. The cost to do that make it pretty much a non-starter, and it would destroy the thing you’re trying to capture.

bitcoinbro.bsky.social•28 days ago

What happened was what was supposed to happen, they hard forked off what’s basically a copy of bitcoin where they made their desired changes and create Bitcoin Cash (BCH) and Bitcoin BSV. You can see where they are today price wise, they’re shitcoins.

bitcoinbro.bsky.social•28 days ago

Well, no one can just change bitcoin, the program, that’s the decentralization you’re up against. It was tried years ago in what (you can google) “the block wars” which would lead you to believe it was about block size, in reality is was about a small group trying to seize control. 1/2

kdm-p2p.bsky.social•27 days ago

Why would they do that when they can just Hijack the whole project?

Remember the switch from "Bitcoin is only for criminals" to "Bitcoin is the best asset in the world"? Do you think they had a revelation? Or was this just the point where they got it under their control?

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