I was wrong when I dismissed Bitcoin as a Ponzi scheme in Dec 2017 and gloated with I told you so vibes when I crashed. It went back up eventually.
I was wrong when I dismissed the feasibility of a decentralized currency; thinking it can be crushed overnight by a government decision. China banned it and it chugged along fine.
I was wrong when I thought that some mild inflation is good for the economy. I read the Bitcoin standard in a weekend and was completely blown away how I was waist deep in fiat propaganda.
I was wrong when I learned more, and thought that it’s entirely captured by centralized exchanges who hypothecated the limited supply and turned into another gambling product. All those companies went bankrupt and Bitcoin is fine.
Three weeks ago, I reassessed my position that Bitcoin can’t survive without stablecoins and shady international exchanges. I use robosats exclusively now, and it’s really great.
Last night; I also discovered that I was wrong on my assessment that lighting will end up centralized with a couple of big companies doing 90% of the routing because it’s too hard to run a lighting node. It’s really not - and easier than running a Bitcoin node before Umbrel came along.
I look forward to being proven wrong again on Bitcoin. I do think part of the adoption challenges is that Bitcoin requires deep humility, which is somewhat lacking in our modern society.
Being a bitcoiner is humbling and that's a feature.
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Really? All the Bitcoin Maxi's I know are arrogant as Yankee fans.
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I have not had this experience at all. Maxis are generally only arrogant towards scammers and shitcoiners.
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Being humble means learning from others, admitting you're not always right, ect. Bitcoiners refuse to do either...
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Don’t have to when I’m not wrong. Sounds like you are projecting. LMAO
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It's a fair criticism but it's a fine line as well. There are very few honest actors in the crypto, multichain world. Most are driven by perverse incentives and have no interest in actually improving Bitcoin. It is a lot to ask of people to be able to decipher and learn from the handful of good actors amongst a sea of bad (not all necessarily bad, but I am lumping those driven merely by perverse incentives here).
As an example: What am I to make of an individual such as Justin Bons who manages a european crypto fund and spends an inordinate amount of time bashing bitcoin and promoting proof of stake chains? Are some of his criticisms fair, possibly. Has his hedge fund outperformed, net of fees, simply holding bitcoin for the past 5 years, no. Does his business and livelihood go away if there is no "multichain" world, yes. Does he need Bitcoin dominance to erode in order to retain his investors, yes. So, is Justin an honest actor, with honest criticisms or does he just really need to foment distrust in Bitcoin so he can sell managing a portfolio of 30 assets to investors? Hard to say but hard to take him seriously with such perverse incentives.
I don't have an easy answer, I do agree at times bitcoiners can be too rigid and closed minded. It's reasonable to at least honestly debate the validity of things. But I also think sound, uncensorable, money available for billions to use is a moral imperative and until that is achieved I am disinterested in abc feature available on xyz chain and even more disinterested in deciphering if xyz chain really needs a token or if its feature set is something that can be added to additional bitcoin layers down the line after billions have access to what they need most.
Cheers, GR
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All the shitcoiners i know are dumb as fuck
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Robosats is awesome, and completely self-hostable
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it shows humility to share this, much appreciated.
I was wrong too (same points you mentioned) ... Bitcoin taught me not to be married to my own ideas!
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Have my 21 sats for being sincere. 👍
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Woah, Darth is actually giving something away?
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Please show me first how much YOU SPENT ON SN Here is mine:
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where you see those?
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Yours: 55.7k stacked \ 32.7k spent \ 38 posts \ 348 comments \ 44 referrals
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Is really nice this transparency 👍
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It's funny because Bitcoin is actually the shit coin... With it's inconsistent Blockchain variables that give you the ability to rip people off by replacing an on chain tx before it confirms.... Since ya know, you never know when if ever your tx will be confirmed with btc.. If you use a wallet that allows you to spend unconfirmed coin you really could get FUCKED. At least the cryptocurrencies that I prefer to use when I am forced to use something other than lightning are guaranteed to confirm within 5-10 minutes or instantly and don't cost me more than half a penny USD if anything at all..
On chain BTC refused to take what some other cryptocurrencies do better and evolve to make itself better. And if you know anything about evolution, you know those that refuse to adapt to the change in their environment eventually die out.
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"guaranteed to confirm within 5-10 minutes or instantly and don't cost me more than half a penny USD if anything at all"
Yea, because there's no one is using it. Wait until those chains try to scale. They will run into the same issues Bitcoin has, and they would eventually need Lightning as well if they became a global currency. Bitcoin placed higher importance on decentralization and integrity. This matters more on a layer 1 than ANYTHING else.
You are placing the importance on the wrong things, and I would wager it's because deep down you just want to make more fiat.
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HAVE
FUN
STAYING
POOR
EAT DIRT
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Funny !! A shitcoiner using a bitcoin only site.
I'm sorry you are struggling.
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You need some humility. Maybe the author of this post can give you dome pointers.
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It's funny because Bitcoin is actually the shit coin... With it's inconsistent Blockchain variables that give you the ability to rip people off by replacing an on chain tx before it confirms
Check your lingo here. You cant replace anything that is on chain. One can replace a TX that is in the mempool, but you shouldn't trust those.
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How are you this dumb? Your mom drop you when you were young?
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Notice how I don't call you guys names or insult you, all you have to throw back at me are insults because you can't defend the legitimate criticisms and you guys are like middle schoolers with your "we are always right and anyone who doesn't see it out way is stupid" mentality.
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If you use a wallet that allows you to spend unconfirmed coin you really could get FUCKED
LMFAO you cant be serious
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Pretty sure he is retarded
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Great job. If you manage to find the bottom of the rabbit hole... come back and let us know what it looks like.
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There is a bottom to the rabbit hole ? Damn, 6 years digging and i feel I still have ton loads of stuff to discover/understand/handle.
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LOL ... The moment I thought I was crawling back up of the Bitcoin Rabbit hole ... I was always dragged deeper into new things I didnt know about.
I remember the 1st time Ive heard about Difficulty Adjustment ...I felt I learned one thing but there were 4 things that I was clueless about :)
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I think it's more like an event horizon than a rabbit hole
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дно есть. называется стабильность на уровне математике. 10 минут блок, 21 000 000 монет. халвинг. остальное люди сами придумывают... но есть что то интересное... это держать монеты в голове. достаточно иметь 100 сатоши для этого. ты поймёшь что биткоин открывает невероятный потенциал для развития жизни. это превосходно.
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Well said
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And there's much more to learn.
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In 20017, I equally dismissed bitcoin as one of those latest ponzi schemes in town. Then financial depression hit on me so hard that I suddenly went in search of financial freedom. I stumbled across the following books, which changed my life for good, forever: ✓The Little Bitcoin Book ✓Thank God for Bitcoin ✓Mastering Bitcoin ✓The Bitcoin Standard ✓Programming Bitcoin by Jimmy Song
Ever since, I've listened to several podcasts on Bitcoin.
I am still in the "school" of bitcoin. No graduation date. I'm grateful for that.
I am now a bitcoin maximalist!
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It is ok Peter, we forgive you.
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