So I came across this book "Hijacking Bitcoin: The Hidden History of BTC" by Roger Ver
and this interview "https://www.bitchute.com/video/JbYzs816Lp8' 'Hijacking Bitcoin: The Hidden History of BTC with Steve Patterson - Full Interview'

and its devastating, I had no idea the devs found an inflation bug, also did not know that they were considering implementing an unlimited supply >21mil so that they can maintain the security and able to afford the miners.

If you have time, I would recommend watching the interview, and if youre a reader, read the book.

It's very thoroughly sourced, and It is looking grim for bitcoin long term


Would love to hear some of your thoughts after you watch the interview/read the book.

Congratz on checking on the book and learning more about what's up and what's what

Sadly, bitcoin has pretty much became a cult at this point, the discussion channels are now heavily censored echochambers, for example raising any concerns (even if newcomer to the space trying to learn and asking a few questions) will in so many cases get people permabanned from the subreddit /r/bitcoin

They rather bury their head in the sand, ignoring all the security concerns as long as "numbers go up"
Literally blinded by greed

The cipherpunks are the ones that made this technology a thing
But today the goals have shifted, the technology was meant to keep evolving, keep being updated to still be the P2P digital cash of the future
But since it has been hijacked the P2P digital cash narrative that it had going for it moved to just being a speculative bullshit that just cannot be digital cash, it just cant

I been talking alot about it here and there but since u made a thread for these talks rather than the usual moon-lambos threads then might as well
(u have no idea how refreshing it is to seeing that thread rather than the usual brainrot "buy this or that")
But in 2010 satoshi made a change to the code on bitcoin which was supposed to be just temporary as a measure against spam attacks on the network
That change limited the maximum of transactions per second bitcoin could do from 3,000 theoretically to single digit 7 tx/s by limiting the blocksize

I mean, how the fuck are you supposed to be "digital cash of the future" while mastercard can do 50,000 tx/s but btc literally only single digit 7 tx/s?
And not because "that's a limitation of the technology" because it just ain't
it's a politically motivated decision to keep it that way
The bitcoin cult doesnt want bitcoin to evolve and be what it was originally intended to be

So dramas around the blocksize started which then lead to the chain being split in 2, the unchanged not gonna update the code ever is now known under the name "Bitcoin (BTC)" and the other side of the community that wanted to keep going with the time by increasing the block size limit is now known under the name "Bitcoin Cash (BCH)"

Pretty sad all around, not just bitcoin that been hijacked but nowadays the whole cryptosphere ecosystem has

Bitcoin was made in response to the 2008 financial crisis thing
In 2025 the ecosystem became exactly what it was supposed to fight against by making it inherit the flaws of the legacy financial system that made the 2008 thing a reality
Referring to the whole centralized exchanges shenanigans hijacking the cryptosphere as a whole and running "fractional reserve scams"

Like, why the fuck fractional reserve even a thing in the first place?? That's literally criminal
You sending 1 Bitcoin to a centralized exchange, they tell you that you still have that 1 Bitcoin but they actually using it for themselves, expecting their customers to never withdraw and that their customers never find out that the 1 Bitcoin they originally sent is now actually gone

Bisq.. That's the P2P decentralized exchange that newcomers were supposed to use over centralized bullshits like mt gox, ftx, coinbase, robinhood, binance and all these pieces of shit that hijacked the cryptosphere as a whole

Maybe mass adoption went too fast allowing those roaches hijacking the sphere that newcomers never had a chance in the first place to learn about what's up and what's what...

The original cipherpunks are still fighting so at least there is still hope coming forward

Bitcoin (BTC) lost the plot
Bitcoin Cash (BCH) still trying with the tools that they have which are not ideals but at least they trying
Monero (XMR) is where it's at

P2Pool on BTC never got the adoption it deserved
but been growing nicely for XMR

and Bisq (BTC DEX) failed at getting the adoption required to fight against the centralized entities hijacking the cryptosphere
Haveno (XMR DEX) which is a fork of Bisq has recently officially overtaken Bisq in daily volume (current active network for it is: https://retoswap.com)

Bitcoin was made for self custody with people owning their own private keys to not fall in the trap/psyop that banks/centralized exchanges are
The ecosystem is now run by the banks that own their customers private keys

So to any newcomers:
Don't fall for the trap and actually own your own keys, the technology is literally meant for that

in an fairness it got caught early enough (thanks to being opensource with many eyes on the code), meanwhile there's a Pi coin thread in here that released before the source code and people still installed that on their devices smh

And even then, was with ravencoin that was a multi billions marketcap project at the time with full backing from the company "overstock" and yet an inflation bug was actually introduced on purpose about a whole year after release...
and despite being opensource, being multi billions marketcap there was still not enough eyes on the code that this random update went unnoticed allowing an insider dev on the project to print millions worth of $ for like 5 whole months or so

It would be fine to keep the 21 millions BTC hardcap only if they allowed scaling on layer 1 like it was able to with 2008 internet bandwidth already
But by forcing the 7 tx/s limitation and taking the fees offchain by 2nd layer solutions then that's how they fucked up

There needs to be an incentive for miners to keep securing the network by mining
Monero solved that through the use of "Tail Emission"
Block reward slowly diminished overtime from 17 XMR in 2014 to 0.6 XMR in 2022
So since 2022 when mining a block, getting rewarded 0.6 XMR + transaction fees included in blocks
it is still deflationary regardless (opposed to the inflationary fiat system)

For Bitcoin, it's not "slowly diminished overtime" but a whole halving of the block reward every 4 years that started with 50 BTC per block when it released to currently 3.125 BTC per block then next halving will be down to 1.5625 then 0.78125 to lower and lower being even less than the fees themselves included in the blocks...
This is a massive security concern regarding bitcoin's network security
A tail emission similar to Monero would solve that but they dont want to fix their broken layer 1 smh

Monero also solves that through the use of Dynamic Blocksize
Can scale organically to actual mass adoption to compete with visa and mastercard while still having mechanisms in place against spam attacks

On April 28 (5 days ago)
Some old ass boomer from the US that been using Bitcoin since 2017 got 3520 BTC stolen ($330 millions) from the most retarded basic call center scam thing by some somalian in the UK
i suspected maybe a $5 wrench attack but not even... literally basic scam call center thing...
Never I would have thought that these people are actually that retarded

like... $330 millions... u would think their understanding of the technologies would scale alongside their wealth
But nop...
$330 millions in BTC, probably a US billionaire in fiat that just pays people to do the things for him rather than himself learning how to...
And then literally fall for the most retarded shit ever, so dumb

Also bitcoin being a public ledger is the whole reason that this targeted scam was even a possibility in the first place

bro u should make a youtube channel, u are loaded with monero info

This post was edited by Keuter on May 4 2025 12:44am

lol thx i guess
not very into social medias tbh, used to have some gaming videos back then on youtube and warcraftmovies that did pretty well at the time
but i never got the appeal that people have wanting to aim for both being "rich and famous"
like, making that paper is fine but unwanted attention from creeps, dealing with that too much already, getting hitted on when i walk the doggos and whatnot.. like nah am good, dont need more of that :/

some more tubers/tokers talking about what's up and what's what could be nice tho
as nowadays is all about that soyface thumbnail with clickbaity titles to have that google ads revenues..

Tulip mania

100%

Peter Todd, that per the HBO documentary is believed to be satoshi:
Money Electric: The Bitcoin Mystery (2024): https://imdb.com/title/tt33600145/
(they might be wrong lol)
Has written on his blog in 2022 about tail emission:
https://petertodd.org/2022/surprisingly-tail-emission-is-not-inflationary
So pretty much Bitcoin community dont want to fix Bitcoin's code because it must not change ever, literal cult confirmed
Upgrades to the code should be welcome.. Especially when it comes to security fixes...
With computers, there is constantly new attack vectors that require patches
Making tech "future-proof" dont work, it needs to keep having updates fitting with the time in a constantly evolving field

This post was edited by moonbeam420 on May 7 2025 04:04am