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Sorry to all Bitcoin holders.
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Sorry to all Bitcoin holders.
francis105d1
posted in
Community
2019-09-10T08:07:12.2530000
The guy just explained what Blockstream is doing and why.
https://youtu.be/q-sMbf2OzOY
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Link does not work.
https://youtu.be/tXBwcedQuQ0
No wonder why my got feelings were off the charts, now I get it.
This person explains it all and why current Bitcoin is acting and why the current narrative.
No financial advice nor you should sell your Bitcoin, take responsibility of your own wallet.
You need to read the book "The Bitcoin Standard", which gives a great background and explaination to help understand the central banker's behaviour.
Look dude, I am not new to crypto, I have been in crypto since 2012 when I put my first dollar. I knew about since 2010 but never bought until 2012. I know what Bitcoin was back in those days, and now is a lot different you can't cover the sun with one finger eventually people will find the truth and compare it to what they thought and choose. My question to you is, Do you ignore the white elephant in the room because you feel threatened by other projects that want to bring back Bitcoin previous to 2015, or is it because you came after Blockstream takeover. Make no mistake Blockstream is the little bit of sand in the engine put by the power to be. Because right now a 10tb HDD cost $150 that could hold at 32mb the blockchain for at least 5 years. 100mbps internet connection cost $50 a month, and 16 gb of ram cost less than $100. The lie of small blocks is that a big fat lie. Do you believe in LN and 1mb blocks, well it is technically possible to run a house node at 32mb no problems no centralization no bullshit.
The Bitcoin Cash once you think about it is possible.
The problem is not small blocks the problem actually is the use as a currency.
If because of high tx fees you force yourself to only hold it for speculation than you defeated the purpose of Bitcoin in the first place. Than you will only move your coins from your wallet to your exchange making the government job to find out how much you have and how much taxes you owned a lot easier for them.
If I want to send $1 worth of Bitcoin I will have to pay $0.05 so for that I would better off just giving the fiat , $0.05 is the lowest price today at 1 satoshi.
But bch can actually do that the hardware is there so why limit the block today, we could run LN on bigger blocks just as well.
To me the Blockstream 1mb block size is nothing more than a current government and its corporations to stop, halt or even kill bitcoin, specially when I go and look to my transactions before 2015 I was paying nothing.
The miners income? leave that for those who are alive in the year 2140, you shouldn't worry for income for miners because until that date they will be getting the rewards and you shouldn't worry for a way ahead problem. From now to 2140 they will get the rewards from mining untill all 21m coins are mined.
What should worry you is people actually using it today, because if no one uses it today you won't have to worry for miners income because it will be already dead is the only thing you use it for is speculation.
The truth is that if the only reason for Bitcoin is to speculate than the project is already dead because whales will manipulate the price to zero and one will buy it back because if you bring the price down to much than you even kill the only purpose there was. Speculation to zero can kill any asset no matter which one, Bitcoin as a currency is a reason to hold to it and it is the only check and balance for whales manipulating the market, you remove the currency factor and whales and human greed will drive the price to zero. Speculation sound like it could bring the price up as well as down but the reality is that you remove the currency factor and the speculation will be to zero because unfortunately Bitcoin is a digital thing it doesn't have any other use in the real world that could replace utility. Speculation and currency are the two utilities that will bring value, remove either one and the project dies a slow death to zero.
But with Segwit, you have bigger blocks
https://mempool.space/
Lightning and Segwit is nice. Lightning, Segwit and Rootstock is nicer :D
About the size of the blocks. Perhaps in the future they will be increased if there is no other way.
I wrote a post in response to this comment. https://www.zapread.com/Post/Detail/4992