When you do KYC:
The company gets your identity & remains compliant.
The Gov gets to track you.
The hackers get a target.
Everybody wins.
Except you. 😂
(Normalize saying no to KYC)
5 miners control which transactions will be included in the next block. That is no more permissionless.
Arbitrary data is welcomed after core v30. That is no more money.
"Bitcoiners" are buying ETFs these days. That is their system.
No more fix the money fix the world spirit!
Bitcoin used to stand for something.
Honesty. Integrity. Morals. Justice. Separating money from state. Sound money. Principles.
I got into it because I thought it could herald a great future for humanity. I was naïve.
It makes me very suspicious that xbt is not listed on coinbase, kraken or binance.
If they can list millions of other shitcoins, why not xbt?
Answer: xbt is pure sound money and not a shitcoin.
Once, when Andreas was still a real Bitcoiner, he said we’d “kick those bastards off the network and rework the protocol around them.”
That’s exactly what happened with XBT.
You’re the one who decides which chain is your Bitcoin.
https://t.co/lvOx0sHu4M
- You: "My stocks went up 10%."
- Government: "Congratulations! That's taxable."
- You: "But inflation was 8%. I only really gained 2%."
- Government: "We tax the full 10%."
- You: "You tax the inflation you created?"
- Government: "Capital gains are capital gains."
- You: "So you profit from debasing my money twice?"
- Government: "You're not an economist."
Videos like this used to pull me toward Bitcoin, but that’s no longer true. Bitcoin is controlled by just 4–5 miners and compromised Core developers. The only Bitcoin I still hope for now is Blake2B.
Many people forget what it takes to protect Bitcoin. We just had a test like this, and it was a battle. I think the Blake2b side fits the spirit of this message.
BLAKE2b is quite a bit better for decentralization than SHA256d...
For starters, we now have the precedent that centralization will result in a PoW change, creating a strong disincentive to do so.
BLAKE2b also doesn't have any known vulnerabilities (like SHA256d's ASICBoost) and is very simple for new ASIC manufacturers to enter the market. There are already 6 or 7.
Since we had to reorganize the header anyway, we also fixed several long-standing issues with it. One of those issues fixed is block withholding attacks. The only way previously to defend against them was incentives and KYC. With the new format, it is possible to defend completely at a technical level.
It also increases the nonce space significantly, avoiding the need for mining hardware to handle Bitcoin internals - often incorrectly, a problem that interferes with generating payouts to miners directly.
13 years of school.
Not one hour on:
What money is. Who creates it. Why it shrinks. Who profits when it does.
You learned the mitochondria. You learned trigonometry.
You never learned the one system that would rule every day of your adult life.
Ask yourself if that's an accident.
You might be one of those people who don't understand how BTC's value derives from its decentralized p2p network. If miners and devs are in control, you have neither scarcity nor censorship-resistance. You're welcome to gamble, but I like to follow the fundamentals, which is what brought me to BTC in the first place
This approach spells trouble for both the company and its backers. Serious investors won't touch a project with this kind of promotional campaign, as it's clearly designed to attract only speculative crypto retail traders signaling the beginning of the end for Michael's Strategy.