Quote (Melatonina @ Jan 4 2024)
Someone is mad his coin doesn't stand a chance against btc lmao
https://finbold.com/cryptocurrency-dethrones-btc-payments-in-europes-biggest-bitcoin-store/Quote (Bazi @ Apr 26 2024)
remember this?:
https://bitcoinmagazine.com/culture/bitmain-can-remotely-shut-down-your-antminer-and-everyone-elseshardware centralization through a single corporation having close to 100% of bitcoin's hashrate (and having had purposely implemented backdoor in that hardware), giving that 1 single corporation total control of the bitcoin network
nothin wrong with that right? lol
dumbasses
please remind me again of bitcoin's whitepaper? what is it supposed to be?
satoshi wanted it to be "Peer 2 Peer electronic cash", as he talked about and written in the whitepaper
when bitcoin started, every node was a mining node, every computer, laptop and whatnot were supporting and securing the network
which is not the case anymore
now full nodes are mostly ran by chain analysis companies to collect even more data (including IP addresses and such) from people using light wallets
as he wrote on bitcointalk in some of his posts, he had plans to remove the blocksize limit so it could actually scale on layer 1 and to be used as an actual Mean of Exchange and to be what was always intended to be "Peer to Peer electronic cash"
but this never happened, bitcoin and its development has been hijacked for years now
and the new narative pushed by those that became in control of bitcoin is that "it's not supposed to be Peer to Peer electronic cash but a Store of Value"
so... 7 transactions per second limitation due to the fixed blocksize, they tried to sell the idea of "layer 2 will solve this" (Lightning Network etc) but it clearly failed at that
while what got bitcoin started in the first place was by those adopting it for the circular economy (ross ulbrich's silk road etc etc)
it never ever would have worked if the whitepaper was "so guys, I just made that thing, is so that u can speculate on its price and cuz store of value then is like u got that mona lisa electronically but u cant exchange them for goods and services, its not meant for that, only for speculative investment"
like nah, it's because people, bunch of everyday people saw value in something that could be used to transact goods and services between other regular everyday people
which... there was still a need for that since bitcoin couldnt do that anymore so that's were monero came in
2018 was when there was a bunch of new cryptoscamcoins using "masternodes"
basically, random devs just copy pasting the code of other coins, adding a "pre-mine" so that the 1 single dev would get like... idk some random number like lets say "20%" of all the coins that will ever exist
and could sell those to the users of that new cryptoscamcoin because to run a "masternode" they had to have a certain amount of that cryptoscamcoin locked in
so that was literally IRL infinite money glitch
step 1: make a new coin and assign yourself 20% of it
step 2: sell those previously self-assigned coins to gullible people so they can run their "masternode"
step 3: profit, ditch the project and make an other one, rinse & repeat, infinite money glitch
both bitcoin and monero didnt have a premine
2021 was when the whole NFT train got cringier and cringier, meme "tokens" (that are not even cryptocoins with their own blockchain but often just some erc-20 token on the ethereum blockchain made by people without any technical knowledge)
so, there is and has been alot of distractions over the years preventing people to see where actual value comes from
it's getting there tho
the need to exchange goods and services is the base of every society, bitcoin could have been the electronic mean to do that, only if the cipherpunks that made it kept it as it was supposed to be
Quote (derpykitty @ Oct 28 2023)
the original cipherpunks that made and adopted bitcoin moved to monero a long time ago
some would even speculate that nicholas van saberhagen that wrote the cryptonote whitepaper to which monero was based on and satoshi nakamoto (that made bitcoin) is the same person, but it's just speculation and honestly, it doesnt even matter
what matters is not the speculation but what it actually does as of today and as of today, monero works as a mean of exchange, has been adopted for that and took over bitcoin in that department, which I would argue is the most important aspect for a "cryptoCURRENCY", to be used as actual currency