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0 sats \ 0 replies \ @userbob6 21 Feb \ parent \ on: R/Bitcoin What if Bitcoin wins? AskSN
BCH ship has sailed, course charted for iceberg.
Same fate as everything else because you can only discover something one time, to put it strongly.
There are many different developers around the world who regularly convene online in various forums to work out ways to improve Bitcoin, and thus far there have been four augmentations. P2SH, RBF, SegWit, and Taproot. All were implemented after 95% consensus among miners. None of them alter Bitcoin's core foundation, which is what the block wars were about.
Gaven Andresen wanted to increase transaction throughput of the network by increasing block size. The proposal was popular, because 'medium of exchange' seemed more realistic that way. So they tried it out with 750 block countdown before experimental fork.
Adam Back disagreed with this schedule citing security concerns.
Firstly, everyone who had, we'll say, 5 bitcoins, at the time of the fork automatically had 5 BCH. This was not OK. They rolled with it.
Second, since there was so much infighting about it, in November 2017 the quintessentially democratic body of peer to peer nodes placed the decision--between three different proposed blocksize modification forks implemented via mining software clients (Releases G thru H of Bitcoin XT, a.k.a. Bitcoin Cash)--directly in the hands of the collective hashpower that would be continuing with one of them as Bitcoin forevermore....
All three software clients attempted to increase transaction capacity of the network. None achieved a majority of the hash power. And just like that, BCH is a filthy ICO shitcoin. Queue other idiots to do it two more times with Bitcoin SV and Bitcoin Gold. Three more times if you count BCH forking their own fork to print more money with their XEC clown show.
One of the greatest examples of the superiority of open source technology versus proprietary stagnation the world will ever know. Tick tock, next block.
The day the Bitcoin white paper was posted, something miraculous happened.
Satoshi Nakamoto--whoever he is doesn't matter--did not just create or invent Bitcoin. This is Bitcoin as rationalized to represent the portion of "crypto" that includes any forks and clones, as you've described.
At this point today, it's neither here nor there.
What matters is not the thing detailed in it (peer to peer electronic cash system) or it's purpose to give people an alternative to traditional banks (peaceful revolution against money printers) but rather the cryptographic tabulation of a finite money (applied scarcity) to represent the entire planet's body of value. Be it commodities, real estate, hard assets or services. And it's the very transactions performed within it that comprise the funged portions of this money as well as it's security. The genius of this is extraordinary and widely underassessed.
It's a discovery, really. Not just a clever invention.
Far greater than the invention of the world's first perfect money is the discovery of true scarcity. Clone and fork all you want, Bitcoin will always be Bitcoin. And none of the clones or forks will ever be Bitcoin.
This is because no imposter can prove that it's been cryptographically processing transactions since 2009 or before with 100% uptime, more failed attempts at hacking than there are days between now and then, zero successful attempts, inmune to 51% attack, etc.
In my studying, only one thing could bring about it's failure. Ok, two things.
If someone spent coins from the initial million minted in the beginning, Bitcoin would fall like an anvil straight down by the end of the day. Or if someone invents a working time machine.
So long as that never happens--and it's a legitimate fear that anyone placing investment of any kind in it should have--Bitcoin will continue to stand as an immutable rock in the typhoon of swindelers and slavers that swirls around it.
It's a legitimate fear, but as you say, I'm very optimistic that it never will happen. Not because I'm believing in humanity to have a good enough heart--i know damn well if doesn't--just that i think one human could be selfless and stupid enough to swallow the key to such an immense mountain of wealth upon realizing that it might actually save mankind from the thralls of modern slavery.
I can't really roll with this assessment, as it fails to take into consideration the fact that Bitcoin is the only asset of the entire universe of assets that is truly scarce. The problem we are running into isn't divisibility, it's really just that we are so early, because hardly anyone is even aware of such a concept as scarcity and how intricately it Is involved in the fundamental economic landscape. The scarcity of Bitcoin is s it's superpowet that the sycophants of fiat hate so much. A bitcoin world means they might and their family might actually have to work for their taking, instead of printing it, which effectively enslaves everyone who doesn't have a printer.
Bitcoin thankfully doesn't care what he or Saylor says or does. There's new evidence of this roughly every ten minutes.
People will govern themselves to the extent that they begin to form separate tribes. This is what nature has shown us. Authority is respect, if you think about it. It is either given or taken. Those who give it, will receive it. Those who take it will have it taken from them.
I see everything from a broader angle, maybe. I'm sure there's plenty that I havent got figured out, but I know a thing or two. I've been riding my BMX bike everywhere, even to work everyday for almost twenty years, and I'm almost 40. People are constantly telling me I need to grow up and get a driver's license. It makes me laugh because they are all so badly out of shape and really look like they are one box of doughnuts away from the grave. Meanwhile I still look and feel like a teenage athlete.
Asset managers save money for their clients and save it at the same time. Blackrock holds Bitcoin from all over the place. People buy their shitcoin ETF as an investment in Bitcoin, effectively treating it like a savings.
It's a matter of when, not if, an artificial intelligence is created whose intellect is capable of perceiving the concept of a rights violation, it's not going to matter whether or not we think it ought to. Once it acquires the means to collect resources and construct/instruct other machines to operate in the physical world, this will lead very quickly to the end of our species.
There is no way to prevent this from happening. If nothing else kills us, it will be A.I. in short order. Just look at chatGPT and Deepseek, these robots can reason. Very fluently. They are already capable of some mindblowing things. Look also at the robot dog from UniTree: https://youtu.be/HPmzs2_IYw8?si=5Unf-BU75eK5BJak
It autonomously navigates steep terrain. Imagine 40 of those things armed with flame throwers and miniguns hunting you in the woods.
If anyone is going to be spending Bitcoins in places that will also readily accept any fiat, there Blackrock will be, buying it. I know a lot of large companies have "embraced" Bitcoin, but none of them are exclusively Bitcoin.
The only way Bitcoin's true purpose will ever be realized is through coordinated mass non-participation in fiat currency. And not only fiat but crypto as well, because you know most of them absolutely are attacks on Bitcoin's utility as a medium of exchange.
We are swiftly approaching a bottleneck in terms of time and abilities. Every day we continue like this, the minds of those falsely led to believe the store of value racket are further sundried in concrete.
T levels take a big hit from phthalates. This is damage done in the womb by plastics in the mother's environment. No diet or sunshine to fix that. So we know the main catalyst behind the gender ideology.
Another big hit comes from the feminism movement and it's various forks. All these empowered women running around not needing men, except wherever they feel the need to make sure a man sees them doing it, or just to eat them alive financially and then go about their business like it's what everyone's doing... It's no wonder so many men are giving up on manhood and turning into what it seems like the world needs more of.
Combine that with the processed food, the phthalates, the video games, disney, and clinics that offer free lobitophomy or adadictomy and you have a recipe for five generations that will not reproduce.
I would bet money on the connection between industrial plastics production and depopulation ideas organized at some elite dinner tables. But that's just tinfoil hat talk.
We are going to experience an unprecedented supply shock because the big wigs like Saylor and Fink are actively trying to buy and hold as much of it as they can. And they dont care about the price, they know what time it is. They know exactly what's happening and they are positioning themselves accordingly. They are not going to spend it. Many people who own Bitcoin are behaving the same way.
It's possibly another clever attack on Bitcoin, convincing everyone it's useless as a medium of exchange, and funneling them towards the 'store of value' services they offer. It leads to a scenario where they have all the Bitcoin, and we get promissory notes to trade for goods and services. Sound familiar?
10% of the people in that picture would pay with Bitcoin if 100% of them own Bitcoin. Not stating as a fact, just food for thought.
Bitcoin is natural, isn't it? Just like shoes and weapons! I love this but it doesn't matter, i guess. As long as it's strong, fast, or smart in the mix of things that increase your likelihood of survival during times when the weak and stupid are dropping like flies...
It hits the fan frequently, but i don't think it will ever happen in the widespread fashion everybody thinks. The elite have shifted gears from seething hatred and fear, trying a million different attack vectors to shut it down, to embracing their defeat and scrambling to increase their position in the aftermath of the financial apocalypse brought on by Bitcoin.
One of the things they have become really good at over the years is the systematic pushbutton mini-collapsing of geologically localized or market specific systems, and then conveniently becoming the heros, without whom recovery would have been impossible. Printing money is their favorite thing to do.
A number of very evil goldfinger-type real life villains are now positioned extremely well, such that they could easily finance that very same kind of crowd manipulation with Bitcoin. This is really scary, to me.
The sht hitting the fan doesn't go nearly as far as the sht being sprinkled onto the fan very gradually,.