#Bitcoin Promoting understanding of Bitcoin and related ideas. My tweets are my own opinions, or possibly those of a hacker or rogue twitter employee.
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- Likes 268,503
Sometimes I get the feeling that bitcoiners and ethereans are just very different kinds of people
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Like this tweet if you like how Lyn Alden always makes it about the analysis and never about herself.
100% alpha, 0% ego.
We need more bitcoiners like this.
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I challenge @PeterSchiff to a 5k race.
He will carry $5 million in gold (about his bodyweight) and I will carry $5 million in bitcoin (in a Trezor, the plastic one, not the metal one) . Winner acknowledges superior portability and discretion of his chosen store of value.
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Ethereans are excited to tell me exactly how much BTC is in Ethereum. Why were they annoyed when asked how much Eth is in Ethereum?
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You can't create a cryptocurrency with a longer track record than bitcoin (as long as bitcoin continues to exist)
You can't recreate the initial distribution where it had neglible value ("immaculate conception")
You can't hire the top people who choose to work on bitcoin and in bitcoin.
You can't displace bitcoin with something 10% better. It would need to be very significantly better.
It would be very hard to get better hash rate security and code quality.
It would be very hard to get founders that voluntarily give up centralized control and disappear.
It's very hard to get credibility for a fixed or limited supply of a cryptocurrency.
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Problem: banks mistreat people
Solution: innovators build alternatives
Politicians: force the alternatives to become banks
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Bitcoin isn't controlled by a politician - that is one of its key features - leading to its predictable monetary policy. The people of El Salvador now have the option of using bitcoin as savings/currency without the tax difficulties and banking hurdles found in other countries.
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There are plenty of examples where all assets were confiscated from wealthy families and they had to flee the country and they were rich again in the new country in a matter of years.
Education, expertise, motivation, ambition, intelligence, and grit can't be confiscated.
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It's worse.
The Genesis block of ripple has been "lost"
100% premine, absurdly concentrated ownership.
Marketing, development, "partnerships", and intellectual property all controlled by the same insiders.
It's a potemkin village.
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I just published Ballet Wallet — a critical look
link.medium.com/8Puq2jIoG6
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What compelled the Financial Times to run the same article as the Economist, WSJ, Washington Post, and NYT?
It isn't news. It isn't even true.
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You talk about the weather, sports, food, etc. If bitcoin comes up they will probably just change the subject.
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Embarrassing to see MIT publishing Amy Castor who is citing... sigh... Alex De Vries as a source.
Bitcoin's Proof of Work is the innovation that allows decentralization.
Centralized PoS coins and nocoiners making money from lying have nothing honest to contribute here.
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Gold since 2011: down 1%
Bitcoin since 2011: up 1 million %
They are both competing for your limited capital.
You're right, it is unfair to compare them.
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Nocoiners have three problems:
A bizarre trust in centralized authorities
A lack of understanding of bitcoin
A lack of bitcoin
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So he sold 22 btc at around 10k in late 2017. Bitcoin was under 10k for most of 2018-2019, so he did have a chance to re-accumulate a position at favorable prices.
If he bought $3k a month throughout 2018, 2019, and 2020, he would re-accumulate about 15 bitcoins.
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no altcoin-specific hardware wallet
no altcoin equivalent of stratum v2
no altcoin satellites
no altcoin-specific countries
no altcoin focused on decentralization, bug fixes, and resource optimization
bitcoin is different
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No, no one can verify a "fake transaction" in bitcoin.
Fake transactions will be rejected by nodes.
A 51% does not allow fake transactions, confiscations, or inflation.
A mining pool is not the same as a mine (if a pool misbehaves, hashpower quickly diverts to other pools)
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Supposedly only some of Florence was built in stone and some in wood. Every time there was a big fire, the wooden buildings were destroyed and replaced with a mix of stone and wood until the city was all stone.
Every crash bitcoin leaves the weak hands and goes to strong + weak.
It was hard money that financed the building of Florence, while easy money financed the strip malls blanketing the planet today.
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Conversation with someone not in the bitcoin space:
"Gas is getting more expensive, food is getting more expensive, rent is getting more expensive"
Me: "Maybe there is a literal common denominator?"
Him: "I hope the Fed will do something to help"
Me: "Help?"
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If you were watching this, you bought bitcoin at $600 ($100k today)
If you were watching legacy media, you were told it was a bubble/scam/ponzi and dismissed it.
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It doesn't make sense to say that electric cars are saving the environment but electric money is destroying it.
If you look into it more you'll see that bitcoin mining is one of the greenest industries and helps stabilize the grid and reduce carbon emissions.
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Taught some people today about how bitcoin works. I don't think there is anything else I could be doing today that is more important.
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It's only useful for tech bros, and for Venezuelans, Argentinians and Nigerians and for hedge funds, and for corporate treasuries, and for governments, and for central banks, and sovereign wealth funds, and pension funds, and refugees and preppers and political dissidents and...
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Bitcoin was around $800 at the time of this tweet. Still waiting on a small country to do this. It's a winning strategy.
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It's great to see an exchange actively supporting proof of keys. Proof of keys is an opportunity for solvent exchanges to distinguish themselves from insolvent exchanges.
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Was handed a bolt card by @CoinCornerDanny at Bitcoin 2022
Excited to have the Genesis paper version.
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"it’s always up to U to do research"
Indeed. Let me help.
The unit of bitcoin is the satoshi. A satoshi is currently less than a penny. Buying satoshis under a penny is a good idea. It's affectionately called "stacking sats"
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If a bitcoiner told you 10 years ago that bitcoin was going to 12k you would have mocked him and said it would never go that high. And now the bitcoin haters call for 12k.
Billionaires have quit their companies to work on bitcoin full time and people think it's going to zero.
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Fun fact: back in 2010 there was a faucet giving away 5BTC at a time and 5BTC was worth less than 40 cents.
#stacksats
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If they manipulate it down you can buy more bitcoin with your dollars.
If they manipulate it up you can buy more land with your bitcoin.
If you get liquidated then you should not have been trading with 100x leverage. You should be accumulating sats that cannot be taken away.
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Feeling good to be inside #bitcoin2021 and seeing @FrancisSuarez and @RonPaul talk. Extremely long line outside to get in.
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"pyramid-shaped structure"
Bitcoin doesn't have a hierarchy, required payments, or require new people.
What pyramid are you talking about?
Can you share what research you did for this article, if any?
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The nocoiners are getting increasingly unhinged.
This person is threatening violence against people he doesn't know based on technology he doesn't understand.
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We're offering 5,000 free passports (equivalent to $5 billion in our passport program) to highly skilled scientists, engineers, doctors, artists, and philosophers from abroad.
This represents less than 0.1% of our population, so granting them full citizen status, including voting rights, poses no issue.
Despite the small number, their contributions will have a huge impact on our society and the future of our country.
Plus, we will facilitate their relocation by ensuring 0% taxes and tariffs on moving families and assets. This includes commercial value items like equipment, software, and intellectual property.
Stay tuned for more details 🇸🇻
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You can't write 12 words down on a piece of paper?
People used to hold physical stock and bond certificates.
Using a secure password and 2FA with a custodian isn't easier.
I've helped octogenarians set up self custody.
Only motivation is needed.
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It turns out that his strategy of blocking people who exposed the flaws in the model did not make the model more correct.
Bitcoin's rise is not preordained - it is the result of hard work by devs, entrepreneurs, investors, educators, and others.
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As someone who used leftover student loan funds to buy bitcoin, I support canceling my debt and printing more money, which increases the value of my bitcoin.
Speculative attack on the world's reserve currency isn't easy and any help is appreciated.
#CancelStudentDebt
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What's better than reading the Bitcoin Standard on a beautiful day in Miami?
Reading my girlfriend's copy of the Bitcoin Standard (signed by @saifedean) on a beautiful day in Miami.
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2017: Publicly traded companies change their names to include "blockchain"
2020: Publicly traded companies change their balance sheets to bitcoin
Substance > hype
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Friend: Watch anything good lately?
Me: The battle for 10k
Friend: Is that on Netflix?
Me: No, tradingview.
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Is the Economist going to write about Nigerian entrepreneurs using bitcoin?
Does the Economist have a bias against bitcoin and thus pick non-representative users to demonize it?
Bitcoin is for everyone.
coindesk.com/tech/2020/08/13…
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Did the company that makes money selling the worthless token they premined pay you to say this?
They own the trademark, the majority of the tokens, and control consensus, development, and most importantly the marketing.
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"miners group together to form “mining pools”"
A mining pool is when different miners collaborate to share the proportional rewards of mining to reduce variance. Miners can and do quickly change pools.
See effect of Poolin pausing withdrawals: most hash rate gone in days.
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What is it with billionaires and bitcoin?
What is it with poor people and bitcoin?
What is it with digital nomads and bitcoin?
What is it with rocket scientists and bitcoin?
What is it with young people and bitcoin?
Bitcoin is for everyone.
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People can use big-block forks if they want to.
But BCH has tiny blocks (on avg 10% the size of BTC blocks). So no one actually uses it. But they do write books whining about losing.
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What if every instinct you have is *right*?
You sit in a fluorescent lit cubicle dreaming you were lying on a sunny beach. You do not lie on a sunny beach wishing you were sitting in a fluorescent cubicle.
🧵👇
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Moderated a panel at #TABConf2022 with Murch, Gloria Zhao, Pieter Wuille, and Andrew Chow
Discussed Full RBF, Package Relay, Bitcoin Core 24 RC2, alternatives to Github, PSBT adoption and BIP324
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You said you got into bitcoin in 2011.
Since then bitcoin is up 1000x and gold is exactly the same price.
And your prediction is bitcoin is going away?
Care to share any other predictions so I can do the opposite?
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That was almost a decade ago. Time to bring on a bitcoiner like Alex @gladstein to talk about how bitcoin is changing lives around the world
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As a bitcoiner with a degree in Economics, it is mostly due to the dominant school of Keysnesian Economics that believes the money supply should be manipulated.
Also, many experts in a field are resistant to radically new ideas (see plate tectonics, relativity, etc)
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Bitcoin onchain is significantly faster than international wires, international gold payments, and has shorter time to finality than credit cards or other electronic payments.
And that's before you send instant lightning bitcoin payments...
Is it bitcoin that is slow?
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Consider the Malaysian Ringgit. What percent of shops accept it in the world? Vast majority of the world doesn't, and yet it is money. There's no universal money.
Bitcoin is money for some people in some places - therefore it is money.
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Dave has disabled replies to avoid people pointing out that his theory makes no sense. Like blaming the lifeboats for the sinking of the Titanic.
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People think that if a million monkeys were given typewriters they would produce Shakespeare, but in fact, they would produce BSV.
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Many people are not aware that the Joe Rogan Experience podcast has over 190 million downloads per month, giving it more reach than many mainstream publications or channels.
And "stacking sats" is now said at the beginning of each podcast.
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Eth uses a different hashing algorithm than bitcoin (Ethash vs SHA256), so the respective hash rates cannot be directly compared.
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People need to stop asking how many years ago did you first hear about bitcoin and instead ask "how many years were you waiting for bitcoin before you heard about it?"
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If bitcoin absorbs 90% of the value of all other cryptocurrencies, bitcoin increases by 50%. If bitcoin absorbs 10% of the value of gold, it increases by 500%
The price of altcoins does not matter for bitcoin in the long run.
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People who can't afford $320,000 can just stake their eth with a trustworthy pool like Stakehound... Oh wait
forbes.com/sites/emilymason/…
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Satoshi set the code to mine the genesis block and then wait until others joined the network before mining continued. The genesis block cannot be spent as per the code Satoshi wrote. Thus a premine of zero. No bitcoins were mined before public mining began.
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Vitalik isn't an official spokesperson for Bitcoin (no one is).
Vitalik created Ethereum to address his perceived flaws of Bitcoin. Those flaws (doing one thing well instead of many poorly, upgrading carefully, proof of work for security...) are actually strengths of Bitcoin.
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No, not "crypto" - just one particular centralized pseudosecurity.
The point of decentralization is that there is no CEO to subpoena, jail, or coerce.
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Cool things about visiting Pubkey this week:
1. Being greeted by name
2. Gazing upon the original "Buy Bitcoin" notepad
3. Hanging out with bitcoiners before the crowds arrive
4. Surprisingly good food
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"We didn't write the lightning protocol - we didn't write bitcoin . . . we didn't figure out how all this stuff works . . . if you can combine things in an interesting way . . ."
- Paul Itoi
That's actually what bitcoin itself is - a novel combination of existing ideas.
This could be the most important podcast of 2021: exploring #Bitcoin + Lightning Network + Sphinx Chat as an unstoppable stack for free speech, anonymity, and true digital liberty.
@TFTC21 @sphinx_chat @MartyBent
podcasts.apple.com/us/podcas…
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In 1944 at this hotel in Bretton Woods, New Hampshire, elites from 44 countries gathered to set the value of fiat currencies.
Under a bitcoin standard we can instead have a free market for money.
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Bitcoin doesn't require favorable regulation.
Bad regulation is merely inconvenient for bitcoiners, but terminal to centralized nonsense.
Bitcoin doesn't require affinity scams.
The signal doesn't require the noise.
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WBTC is held by BitGo - it's cefi, not defi.
Same idea as Tether.
You can build cefi on top of defi, but you cannot build defi on top of cefi.
Always ask who holds the keys.
btctimes.com/news/why-wrappe…
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Bitcoin halving now estimated to occur during Blockchain week in NYC, Consensus, and Magical Crypto Conference.
This is going to be amazing.
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A pyramid scheme is where participants each have a place in a hierarchy and make payments to the people above them. Bitcoin does not have a hierarchy and does not require any payments to be made.
Myth No. 7
medium.com/@d.ameli/13-commo…
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BTC at 1000: "you got lucky"
BTC at 250: "you're stupid"
BTC at 19000: "you got lucky"
BTC at 3000: "you're stupid"
BTC at 63000: "you got lucky"
BTC at 19500: "you're stupid"
Nocoiners descend into self-parody as I patiently wait for satoshi-penny parity.
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Great to be at @bitcoindayio in Naples with @BITVOLT7 @samuelarmes @CedYoungelman to talk about the bitcoin community in Florida like @BitMiami305, Bitcoin Brunch, Bitcoin Vortex, and many other initiatives to make Florida an even better places for bitcoiners and businesses.
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More than zero.
Add up how much money you waste per month, and then look at what that would be if you were doing a DCA into bitcoin over the last few years.
Thats how much you should have.
More is better though.
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I'm not a bitcoin believer.
I'm a bitcoin verifier, a node runner, a gettxoutsetinfo executor, code compiler, a transaction validator, a signature checker, an open-minded skeptic, a PR request skimmer and a whitepaper reader.
Don't trust, verify.
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Just added the Coldcard Mk4, a TapSigner, and 4 sats cards with fantastic designs to my collection. Thanks @Coinkite
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Raised $18 million. Produced nothing but "partnerships".
Factom Faces Liquidation After Investors Refuse Request for More Funding coindesk.com/factom-faces-li… via @coindesk
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1 year rolling daily dollar cost average is always under the 1 year moving average of price and under the current bitcoin price 75% of the time (since May 2013).
Most people should just DCA.
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The effort by mainstream publications to all run the exact same lie about bitcoin clearly isn't working to slow bitcoin's momentum. Time to let this narrative go.
Learn what a bitcoin transaction is.
d-ameli.medium.com/bitcoin-a…
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The @SeedSigner is a great educational tool. Just put it together and testing out making a seed with my bitcoin dice.
Off the shelf components and open source software.
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Bitcoin is weightless but not worthless.
Intellectual property, domain names, certifications, and legal titles for example are quite valuable despite not being tangible or heavy.
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