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21 sats \ 0 replies \ @Norbert 18 Sep 2023 \ on: What are the WORST things to say as a Bitcoiner? đź‘€ bitcoin
Make a huge point about "the bitcoin is not in your wallet, it's on the blockchain!".
Not only will people not understand this, it will give them the feeling of not understanding even such a basic aspect, and leave them bewildered. And for what gain? There is no actionable difference, it's a pointless statement.
Bitcache, a Lightning Network-based micropayments service created by Megaupload founder Kim Dotcom
What? I thought he was solidly against Bitcoin, and is promoting BCH instead. That's definitely the impression I've gotten from his twitter activity.
This is Faketoshi propaganda. He's suing Bitcoin developers and other community members. Nobody should promote this shitty material.
I fully understand your thoughts, as someone who never got into "DeFi" in the first place for those sorts of reasons.
I would also like to warn against complacency around "wrapped bitcoins". It sounds very algorithmic and nice, and a way to have your cake and it it, too – a promise that you can have bitcoin and use the popular DeFi protocols at the same time. But "wrapped bitcoins" are just tokens issued against real bitcoins that a central party promises they have in custody. WBTC is backed by coins BitGo say they have in their custody, soBTC was backed by bitcoins FTX lied about having in their custody, but didn't.
So "wrapped bitcoins" are no different than having bitcoins on an exchange – you have counterparty risk. And since you don't know what your counterparty's counterparty risk is, you can't quantify your own risk.
Coinbase supported every single hostile hardfork attack on Bitcoin. They simply don't like Bitcoin in the first place.
We should be thankful they took the time to finally support SegWit. Lightning will come when cows fly.
GENESIS