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46 sats \ 1 reply \ @NetWt1oz 8 Nov 2022 \ on: ☂️ LN+ is now available in the Umbrel app store bitcoin
Nice! Looking forward to more node automation as well!
The idea seems pretty neeto. Would be cool if it could be done in a way that has a self-custodial recovery process.
I left a review about my experience with a wallet. The process was smooth, and seems like a cool V4V platform idea! Looking forward to seeing how it develops.
Do you have a strategy to reach pre-coiners that aren't anti-bitcoin, but just don't understand it, or don;t know the benefits?
Go to eth2 on coinbase and there is a button at the bottom asking if you want to sell or swap it. You can convert to cbETH and then sell to USD or just swap straight from ETH2 to BTC.
Content of the post just in case it disappears:
Ethereum first began with a massive 72 million ETH premine. It's a
premined and centralized scam.
Ethereum launched with 12 million ETH for the developers, and 60 million
ETH for sale as an "initial coin offering" during the presale. They
purposely misled investors by suggesting merely 12 million gifted
premine and ignoring the 60 million that they sold. Misleading total
supply graphs in their prospectus. This is a serious concern in light of
Ripple getting sued by the SEC as being an illegal security which means
in due time we should expect them to also go after Ethereum developers
and the Ethereum foundation for creating an illegal security, because
that's what it is according to the Howey
Test.
Vitalik and many others in the Ethereum space are known scammers.
Vitalik is not an idiot and he knew better than to pitch something as
ridiculous as quantum mining to investors. Another example is pitching
turing completeness as the valuable aspect of ETH, now pivoting away
from that and saying it was never about turing completeness but "rich
statefulness."
Here is a clip of the co-founder of Ethereum, Joseph Lubin, describing
how they allowed whales to use multiple fake identities to buy as much
ETH as they wanted during the Ethereum
presale. "A person can buy with any
number of different identities. We may limit the unit size of a single
sale to make it easier to disguise. So that nobody scares people with an
enormous initial purchase. If you are a whale and you plan on investing
several million US dollars worth, then you can do so with with multiple
identities."
Jimmy worked directly with Vitalik from the beginning, back when Vitalik
was still working on rootstock for Bitcoin.
The Ethereum community has endorsed radical changes and pivots, trying
to find narrative fit and the Ethereum leadership team is more willing
to embrace alternations to the core objective of the protocol in their
search for product market fit. They've literally tried world computer,
dapps, crowdfunding, NFTs, DeFi, open finance, radical markets, store of
value, and more. Ethereum is an aggregator of these narratives, trying
each one out over the years in an attempt to seduce people that are
uneducated about cryptocurrency. But there is no persistence of a
singular narrative when it comes to Ethereum and they are still trying
to find product market fit even after all this time.
Ethereum is a pointless project that will lead to no efficiency because
there is no censorship risk in code execution. What purpose does
Ethereum solve if it comes with a horrible trade off of an extremely
large attack surface and huge scaling problems? They also advertised
immutability and unstoppable contracts that were then immediately
reversed with multiple hard forks.
Unlike Ethereum, Bitcoin's issuance rate and maximum supply are clearly
defined and they will never change. Ethereum's inflation rate, maximum
supply, and final algo are not even defined and people are investing in
this. This is insane and it basically amounts to faith in Vitalik and
his team. While at the same time newbies are misled into believing that
Ethereum is decentralized. Meanwhile, Vitalik has full control over the
whole project. Does anybody else here remember the DAO smart contract?
Someone found a way to drain ETH and some of Vitalik's buddies lost a
ton of ETH, so he rolled back the entire blockchain because Ethereum is
centralized, Vitalik is the leader of it, and everyone in the Ethereum
community agrees with him, so he can do whatever he wants with Ethereum.
He chose to change the name of the real Ethereum blockchain to Ethereum
Classic and calls his rolled back blockchain Ethereum. Not long ago ETH
miners said they weren't going to follow Vitalik into adding a ponzi
style transaction fee burn, so Vitalik, leader of Ethereum, called their
consensus a 51% attack and changed the rules.
The fact that Ethereum has switched over to staking rewards also has
serious tax implication in many countries where merely holding your ETH
being staked will expose users to legal tax obligations. Exchanges for
example must send a 1099-MISC to the IRS on behalf of any American user
earning $600 in a year. Proof-of-Stake also makes it so the already
rich whales control the network and will be collecting compounding
interest to dump on the open market.
Ethereum has already failed to scale as expected and so they are
creating a whole new blockchain and starting from scratch. This can only
be done because Ethereum is centralized. I have no expectation that the
new Ethereum will be any more successful than the current Ethereum.
Ethereum 2 will still be a centralized scamcoin controlled and ran by
scammers.
Ethereum scam part 1 - Here we focus on the Ethereum token pre-sale
which to anyone with any financial experience, is an obvious sale of an
unlicensed unregistered
security.
Ethereum scam part 2 - Here we take a look at the value & business
proposition of Decentralized Smart Contracts and why it's one of the
dumbest ways to make your business more
efficient.
Ethereum scam part 3 - The Ethereum scam part
3.
"The Ethereum blockchain growing 85 terabytes per year is totally fine.
If you have even one person that just keeps buying like a hundred dollar
hard drive like I think once every month then they can store it."
--Vitalik Buterin
Source: https://i.imgur.com/1FZdLC5.mp4
Institutional investors have no interest in ETH and this report titled
"An Institutional Investor's Take on
Cryptoassets"
details why. This report even explains that when Ethereum's fees get
too high and things don't go as planned, users will (and are) switch to
a different cryptocurrency. You can already see this happening right now
with all of the "ETH killers." That report also explains why
institutional investors are interested in BTC.
Over 99% of altcoins were created to enrich their founders and over 99%
of them have no future. None of them are as secure, as decentralized, or
launched as fairly as Bitcoin. Satoshi created Bitcoin to allow online
payments to be sent directly from one person to another without the
trust or permission of anyone else. Bitcoin had no premine, no developer
fund, no developer tax, and no leader. Satoshi never sold, made no
profit, got no fame for his real identity, removed himself from the
project, and he gave a two month heads up before he launched Bitcoin.
Bitcoin is decentralized and trustless with the full nodes in control of
the protocol, and it has no leader or company leading it.
Cryptocurrency is full of scammers/grifters, ignorance, and people that
actually believe the lies because they've been sucked into shitcoin
cults. People use altcoins for trading/gambling to increase their
Bitcoin stack or even their Ethereum stack if they don't understand
Bitcoin and cryptocurrency. Gambling on altcoins can still be very
profitable during a bull run, but making a profit is not guaranteed and
you can easily lose BTC when gambling on altcoins.
Satoshi took careful steps to make sure that the world would look back
and observe that Bitcoin was launched fairly:
-
No premine (Satoshi didn't grant himself any coins)
-
Gave a 2 month heads up before launching the network (no sudden release and no mining before release)
-
Coins had no value for 1.5 years so they circulated freely (it's not even possible for an altcoin to replicate this)
-
Satoshi never cashed out (unlike every altcoin founder in history and I bet it stays that way for eternity)
I'm about to be in a situation where I sell my home and rent for a couple years because of some work/school/life transitions.
After paying taxes/realtor fees/etc. I will have some net proceeds from the equity that are fairly sizeable.
Old school advice would be to save that for the next house, but I don't see real estate/home-ownership like I used to before going down the bitcoin rabbit-hole.
Anyone out there convert home equity to bitcoin and just rent indefinitely?
0 sats \ 0 replies \ @NetWt1oz 26 Aug 2022 \ on: 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bitcoin
interesting... no no user is listed as posting this. Bug?
The courses at saifedean.com are really good. He teaches Austrian economics which includes a healthy amount of history.