Bitcoins/Litecoins/Virtual Currencies
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Guest, it's time once again for the massively important and exciting FoH Asshat Tournament!
Go here and give us your nominations!Who's been the biggest Asshat in the last year? Give us your worst ones!
Caliane
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Watch The Burn: EIP-1559 Real-Time ETH Burn Visualization for Ethereum
Watch Ethereum burn ETH in real-time, per block, as an ultra-sound money, creating a sense of deflation. Due to the new protocol changes, EIP-1559.
watchtheburn.com
soon.
Rajaah
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Watch The Burn: EIP-1559 Real-Time ETH Burn Visualization for Ethereum
Watch Ethereum burn ETH in real-time, per block, as an ultra-sound money, creating a sense of deflation. Due to the new protocol changes, EIP-1559.
soon.
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This morning I had a bad dream where I was out in some waiting room (possibly an airport) and had my tablet open to BlockFi or Uniswap, not sure. I had a Bitcoin wallet on screen with like $3500 in it. I got called to the counter for something and there was no one around so I left the tablet on my chair (I probably wouldn't do this in real life, especially not at an airport which I think the dream was). When I came back, the Bitcoin wallet was at $0, like someone had very quickly grabbed it and sent all of it to themselves. All the other cryptos were intact, but there was no Bitcoin left. That was a pretty lame dream.
...Weird thing is I still don't even have any Bitcoin, haven't since I sold at 62k-ish. So maybe the dream was a sign that it's worth getting again? Or maybe a sign that it's going to 0? Or, most likely, just a sign that you never leave your laptop or tablet open to a coin wallet in a public place (or let those things out of your sight in a public place, in general).
Side Note: Something similar did happen to me once, where I almost lost a phone at an airport while going through the scanning lanes. It was in its own box and I got distracted. A couple minutes later I realized it wasn't with the rest of my stuff and by then it was gone. Went to the airport security and they were like "we'll take a look" very nonchalantly. I didn't think they were even doing anything and I thought it'd be quicker if they let me look at the cameras. Then within like one minute they went "got him" and revealed they had tracked the guy who picked the phone up all the way to his current location and had guys descend on him there. It was like something out of the show 24. The guy said that he'd yelled around asking if someone lost their phone (camera corroborated this) and no one answered (I was either slightly out of earshot or just didn't notice with all the noise in the airport). They brought him back over to me, this big DMX looking motherfucker, and he handed the phone right over and I shook his hand. Gave him the benefit of the doubt that he wasn't trying to steal it, was mainly just happy to get it back. Though in retrospect I'm not sure why he went over to a McDonalds and got lunch (where they located him) instead of turning it over to airport security.
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Caliane
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it was a visualizer for London fork, and Eth burned in transactions.
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Flobee
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Below is probably the best explanation I've ever heard about the great reset narrative, how it is going to effect the global economy, what the goal is (as has been made publicly available for those that will read it) and how Bitcoin could potentially be the panacea to what would essentially be a permanent surveillance state akin to China for the whole world. Central Bank Digital Currencies are coming to the entire world in the next few years. This will 100% happen as has been made clear by IMF/WEF etc. If you're not open to centrally controlled surveillance currency that will allow censorship based on your behavior/compliance, what are you going to do about it? Is your shitcoin of choice configured to deal with this, or will it just get folded in?
Discussion starts at 9:30
Discussion starts at 9:30
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James
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What makes you think Bitcoin is any different? Every transaction is public, the government has already proven that blockchain analysis is totally viable and that they will steal your keys to take your Bitcoin away. Even the Monero ledger with its ring signatures are vulnerable to blockchain analysis. You have very little faith and/or understanding of how decentralization protects against the most nefarious aspects of government censorship, and you're ignoring the fact that regardless of whether or not $FEDBUX is widely adopted and censorship vulnerable there will always exist ways to transfer digital assets that are permissionless and censorship resistant.
Flobee
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You can't steal my keys out of my brain. I'm less concerned about private transactions (although thats obviously important and ideal) and more concerned about censorship resistance and removing the states ability to print money. Proximity to the money printer is the primary indicator of power. Removing this power from centralized authorities is a massive blow to their control. We can literally defund war as states can't afford it without the money printer.
This is where the technical understanding of "blockchain" doesn't help you. One needs to think more about macro-economics and monetary history. Your interest is clearly in the technology which is fine, but it fails to see the real importance of Bitcoin's innovation. It destroys the current monetary system's power dynamics.
The reason other crypto's can't do this is because they all have an arm to twist. Ethereum just changed its monetary policy (how supply is handled, PoS changes how it will be printed and who has control of transactions allowed in each block) because its founders decided it was a good idea. That's not an issue in and of itself, but its not decentralized, and its not resilient to state attack vectors. I don't care how decentralized certain technical aspects may be if they can't hold up under this kind of pressure. Bitcoin was built specifically to resist this and it does it excellently. In fact the "pet rock" does this almost exclusively and is its main appeal besides solving the double spend + byzantine general problems originally.
Changes can and will be forced onto these chains, you can't attack Bitcoin in this way. That is the key difference. You'll see increasing adoption and support from the mainstream for chains like Ethereum due to this. They will pump the version of crypto they CAN control. The flippening isn't impossible, but you're making a deal with the devil. I'm not in this for USD gains, I'm here for freedom money.
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James
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It's absolutely decentralized because consensus was achieved via hard fork. Changing the monetary policy is not a bad thing if everyone agrees that it's necessary to change, if people thought it would result in worse conditions they wouldn't follow the hard fork. The fact that Bitcoin does not change its monetary policy doesn't mean it's more decentralized or resistant to monetary policy change, literally at any point the Bitcoin community can decide that it is necessary to change the monetary policy e.g. if network security is compromised due to shedding hashrate during periods of high volatility in transaction fees to a degree that the community agrees it's necessary to fix.
Says the guy who is championing a cryptocurrency being mandated by governments while supply is being hoarded by an increasingly smaller set of wallets. Spare me your fucking crypto moral authority.
Flobee
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No fork that the Ethereum Foundation doesn't support will thrive or even likely survive. ETC is a clear example of this. Vitalik and pals are the primary driver of Ethereum development, its primary beneficiaries', and its Achilles heel in regards to regulation. I don't believe it is decentralized, you do you though.
What? Supply distribution is continually increasing for wallets with <1 BTC compared to larger holdings.
I think El Salvador adopting BTC as a legal tender is bullish as hell. The specifics of their adoption laws may not be ideal but I don't make perfect the enemy of good. ES has more to gain from this move than they do to lose.
I don't really care if you agree with me. I'm not going to shit up this thread arguing with you again. We'll both make our bets and the cards will fall as they will.
James
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So if Blockstream doesn't support a change to the Bitcoin protocol, how likely is it to be implemented do you think? You don't have to answer, it was rhetorical because it's the same fucking thing.
Because you're an easily hoodwinked moron, at no point in crypto history has anyone who understands the technology thought "man, if only governments would mandate that businesses accept and use Bitcoin." It's the absolute polar opposite position from hyperbitcoinization, which states that adoption must be from the bottom up.
Flobee
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Blockstream isn't changing the monetary policy. The scope of changes to Bitcoin is completely different than the changes to Ethereum. When Blockstream decides to change the monetary policy I'm very confident the chain will fork and they will lose.
James
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Man, I have to say this NFT shit is making me feel somewhat icky. That Wolfgang one, well I pulled one that's damn near naked so I'm like, well obviously this is going to drive the furries wild so I put it up at a fairly decent buy now price. They're now in a fucking bid war on that shit not realizing they're only making me reconsider the listing for a higher value, but do you think they have boner in hand when placing their bids? Fucking furries man.
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James
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Looks like this is gonna be pretty big, not sure on when it's dropping yet tho.
No one worried about the new amendment in the Senate Infrastrucuture Bill that Biden is backing?
decrypt.co
Biden Deals Blow to Crypto Industry, Backs Plan to Tax Proof-of-Stake - Decrypt
The Biden Administration's endorsement of a controversial amendment could be a major blow to the crypto industry.
decrypt.co
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