Backed By Bitcoin

#BackedByBitcoin
Purchase the domain for 1 $BTC

[Backed By Bitcoin @backedbybitcoin]

"spam" fixes this

[Justin Bons @Justin_Bons]

1/12) BTC's security budget is lower today compared to 5 years ago!

The truth is BTC's model is failing & will completely collapse within 6-10 years

Halvenings exponentially decrease security every 4 years & fees are not taking up the slack

BTC's own code predicts its fall: 🧵

[Backed By Bitcoin @backedbybitcoin]

This is a great thing and inevitably going to grow as the main use case for Bitcoin.

It pays for the security of the network.

The monetary aspect of the network will become secondary.

[WOLF Bitcoin @WOLF_Bitcoin_]

BITCOIN JUST HIT NEAR-RECORD NETWORK ACTIVITY. IT'S NOT WHAT IT LOOKS LIKE

On paper, the $BTC network is busier than almost any time in history.

Sounds bullish.

But around 80% of daily transactions are now tiny data entries, not payments.

A few years ago that was 44%.

Some are as small as 546 satoshis. That's about 34 cents at today's price.

You couldn't even buy a stamp with it.

People aren't using Bitcoin as money.

They're using it to store data, like images and tokens written directly onto the blockchain.

Here's why it matters.

All that data competes for the same space as real payments, which can push fees up for anyone actually trying to move money.

[Backed By Bitcoin @backedbybitcoin]

@elonmusk and will be Backed By Bitcoin #BackedByBitcoin

[Backed By Bitcoin @backedbybitcoin]

More importantly. What is Backed BY Bitcoin?

#BackedByBitcoin

[Eric Yakes @ericyakes]

What is #Bitcoin backed by?

It’s likely not what you think because most people are asking the wrong question

Thread 1/n

[Backed By Bitcoin @backedbybitcoin]

Freedom #BackedByBitcoin

[Bitcoin Magazine @BitcoinMagazine]

JUST IN: Someone publishes the entire U.S. Constitution on the Bitcoin blockchain 🇺🇸

[Backed By Bitcoin @backedbybitcoin]

@elonmusk We need to put a backup of important information/data/ideas on the Bitcoin blockchain
#BackedByBitcoin

[Backed By Bitcoin @backedbybitcoin]

This is why being Backed By Bitcoin is so important

[illuminatibot @iluminatibot]

Julian Assange warned us:

Digital archives let them erase history with one click.

One day: "Page not found."

The next: "it never happened."

They control what you remember.

Save physical books.

Archive offline.

Don't trust the cloud.

This is how 1984 wins.

[Backed By Bitcoin @backedbybitcoin]

@internetarchive perfect use case for putting data on the Bitcoin blockchain #BackedByBitcoin means it is available forever

[Backed By Bitcoin @backedbybitcoin]

And that history should be written to the Bitcoin blockchain/timechain.
#BackedByBitcoin

[Dennis Porter @Dennis_Porter_]

Bitcoin is inventible. When historians look back this will have seemed obvious.

[Backed By Bitcoin @backedbybitcoin]

We should put a copy on the blockchain #BackedByBitcoin

[Suchitra Vijayan @suchitrav]

The Wayback Machine has archived over 1 trillion web pages going back to 1995. Without it, internet history old news articles, defunct websites, and government pages would simply be unrecoverable.
The question is why is this being made defunct now?

[Backed By Bitcoin @backedbybitcoin]

😂😂😂😂😂

[MDB @MDBitcoin]

"Where are the servers of Bitcoin located?” - Prof Jiang

That single question from Jiang shows the misunderstanding immediately.

Bitcoin does not run on one company’s servers,

Bitcoin runs on a distributed network of nodes spread across the world, which is exactly why it is hard to censor, shut down, or control, plus the mining system on top of it to protect it with energy.

When someone frames Bitcoin like a centralized system, they are not critiquing Bitcoin as it is.

They are critiquing a version of Bitcoin that exists only in their own confusion.

[Backed By Bitcoin @backedbybitcoin]

#BackedByBitcoin

[Extractive Ghost of Unhosted Marcellus 👻 @oomahq]

@maxtannahill Run an HTTP server, retard.

[Backed By Bitcoin @backedbybitcoin]

This is a BFD

[Jack Mallers @jackmallers]

"Is Bitcoin actually competing to be the future world reserve currency?"

Yes.

When you need money that nobody can debase, that is free to hold and receive, that is cheap to transfer, that is censorship-resistant, and that even enemies can settle in... there is no second best.

[Backed By Bitcoin @backedbybitcoin]

#BackedByBitcoin

[Ord.io @ord_io]

BREAKING: Someone just inscribed a 20 million pixel photograph into Bitcoin of "Earthset" which was captured by Artemis II during its lunar flyby yesterday

→ https://t.co/8AXYrTEi2i

[Backed By Bitcoin @backedbybitcoin]

@JStefanop1 @elonmusk

We need to get some Bitcoin miners in orbit!

[Backed By Bitcoin @backedbybitcoin]

#BackedByBitcoin

[Circle @circle]

Circle Wrapped Bitcoin is coming.

Backed 1:1 by BTC and readily verifiable onchain, cirBTC is being built to work seamlessly with Circle infrastructure and the broader DeFi ecosystem.

Learn more: https://t.co/wWzVBZdIz1

[Backed By Bitcoin @backedbybitcoin]

#BackedByBitcoin

[Bit Paine ⚡️ @BitPaine]

this is clearly written by shitcoin casino industrial complex lobbyists as it protects their incentives at the expense of bitcoin.

however

and many of you will hate what I’m about to say

SAYLOR FIXES THIS

$STRC-backed stable coins will mog US-dollar backed stable coins and use bitcoin as collateral, and they will work better than bitcoin as a mechanism of exchange and unit of account

for the time being, collateralizing credit is simply a better use of bitcoin than spending it

don’t get me wrong, I want all the same things you want, I just recognize that the incentives are not there for de minimis $BTC tax exemptions. even among people who are $BTC maximalists, very little of their bitcoin is actually spent

this bill is and always was going to be written by industry lobbyists with their incentives in mind

you don’t appreciate Saylor enough for engineering a way around this using existing financial products

[Backed By Bitcoin @backedbybitcoin]

I can think of one . . .

[Ramp Capital @RampCapitalLLC]

I’ve come to accept that bitcoin will never have a real use case but number go up

[Backed By Bitcoin @backedbybitcoin]

@Bankless @beausecurity @lopp I can think of a good tool to authenticate people . . . .