It wasn’t supported by miners across the world, by exchanges or other high-volume nodes, by most developers, or by most investors, influencers, etc.
It just didn’t reach consensus, plain and simple (which is normal for a fork less than a year old; it’s in a long line).
It’s not as though there was any pressure on miners. There was no substantial “other side” that miners won against. A few thousand people running low-volume nodes doesn’t constitute consensus, and so the fork wasn’t successful.
The toxic bitcoin maximalist movement might be dying
But some of the damage that it did is truly devastating and irreversible
Cancelling Andreas Antonopoulos and Trace Mayer, only to replace them with dumber preachers still hurts
Calling the big blocker brothers stupid shitcoiners instead of trying to find the good elements in their development process is also a huge mistake
Roger Ver was right about delaying adoption by a decade… and in the meantime we have more convenient payment options like Apple Pay, Venmo, CashApp, stablecoins
Last but not least, price models like Stock to Flow (S2F) have blinded people into believing that limited supply is everything that matters. It’s the demand that creates value and we clearly failed to create more demand for payments and more demand for block space
So yeah, it’s been a fun 9 years. But the movement largely failed while breeding a culture of arrogant complacency and intellectual laziness.
This is not what winning looks like.
@MiddleBrownie@skysupersonic Existing networks are full of flaws.
Only an apolitical monetary system, that is not tied to a nation and the politics behind it, can be a global choice.
The coldcard incident should be considered nothing short of an act of war on Bitcoin holders. This shows how far behind we are on bring about safe and reliable self custody for the average man. Meanwhile, the whole space is busy with idiotic bip110 nonsense.
BREAKING: The wealthiest 1% of US earners now own 50.1% of US equity and mutual fund holdings.
To put this into perspective, their ownership stood at 40.1% in 1990 and 39.6% in 2001.
At the same time, the next 9% wealthiest households own 37.3%, and the middle 40% own just 11.7%.
By comparison, the bottom 50.0% of earners hold just 1.1%.
As a result, the top 10% of earners now own ~87.4% of all equity and mutual fund assets.
Asset owners are the only winners in this economy.
Money supply is significantly outpacing economic growth across major economies:
Canada's M2 money supply has grown +368% since January 2004, the largest increase among G7 economies.
By comparison, the Canadian economy has expanded +159% over the same period.
The US follows, with M2 growth of +279% versus a +171% increase in nominal GDP.
Meanwhile, M2 in France has surged +258% and +211% in the Euro Area, both outpacing nominal GDP growth of +84% and +102%, respectively.
In Japan, M2 has grown +90% since 2004, while its economy expanded just +25%, the slowest pace among G7 economies.
The gap between money creation and economic growth is widening.
We're opening the waitlist for our Monetization Gateway, which will allow you to charge for any web page, dataset, API, or MCP tool behind Cloudflare. The charges will settle in stablecoins over the x402 open protocol. https://t.co/pvICtEIixj
Heute Nachmittag tagt das Kabinett. Auf dem Tisch: die Abschaffung der Haltefrist nach § 23 EStG. Zur Erinnerung: 2013 bestätigt die Bundesregierung auf meine Anfrage: Bitcoin ist nach einem Jahr steuerfrei – wie Gold. 2022 bestätigt das BMF-Schreiben genau das. 2026 will Klingbeil es abräumen, weil die Kasse klamm ist. Dreimal dieselbe Rechtslage – bis das Geld knapp wurde. Das ist keine Steuersystematik, das ist Zugriff nach Kassenlage. Und Karlsruhe hat dazu 2010 alles gesagt: Bereits eingetretene Steuerfreiheit genießt Vertrauensschutz (BVerfGE 127,1). 7 bis 10 Millionen Bürger halten Bitcoin und Kryptowerte. Sie alle schauen heute nach Berlin.
@ScottAWolfe Man you really need to stop white those heavily overloaded AI graphics. They’re just too information-dense instead of transferring a simple thought or idea. And they look super AI sloppy