New FUD Narrative Incoming \ stacker news ~bitcoin

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2590 sats \ 5 comments \ @grayruby 8 May 2023 bitcoin

I expect the narrative among shitcoiners to shift from Bitcoin is broken because fees are too low to Bitcoin is broken because fees are too high so buy my shitcoin.

I also expect if the ordinals/inscriptions fad continues (unlikely, I think we are in a degen moment, like the dog money moment, because of Pepecoin) the wizard nerds will push for bigger blocks and eventually pursue a fork.

Ultimately doesn't all this shit end up getting built on layer 2 and sidechains and the base layer is used for big transactions and batching? That seems intuitively correct to me but take it with a grain of salt, I am a moron.

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494 sats \ 2 replies \ @siggy47 8 May 2023

As a fellow moron I agree with you almost completely. I'm just not so sure this inscription thing is a fad that will end. We may have to live with some level of b.s until a layer 2 solution is adopted. That might take a while.

31 sats \ 1 reply \ @grayruby OP 8 May 2023

I expect they are here to stay, so maybe fad is the incorrect word but I think we are in a moment driven by the Pepecoin nonsense where there is a craze for get rich quick garbage. These things seem to come in waves and then die down and then something new will come out and the cycle will start over.

11 sats \ 0 replies \ @siggy47 8 May 2023

Agreed.

31 sats \ 1 reply \ @fedelang 8 May 2023

Hi, another moron here! I am no narrative specialist by I think I am learning how to spot the main narrative point of origin. This one is all Binance.

They are telling their customers indirectly to run from bitcoin to other shitcoins or stableshits because the network is clogged. Book orders are spoof books, associate shady MMs drive sql queries to make price trend both ways while trapping retailers in all directions. On top of that they are running a fractional business model.

Prior to this Binance was charging high legacy fees on tx mined on their own pool while neglecting LN. They cant cry harder now.

So,.. we have this bunch of low iq wizzards shitposting onchain. I am bitcoiner, I am mining bitcoiner (very difficult to be one while expecting full sat roi) and I am a maxi. What wizztards are doing is simple: they need to build inventory, either jpegs or brc shit tokens they need to fill the space. shitcoin L1 allowed to create tokens and shitpegs for almost nothing, now they need to pay me, a miner. I really don't give a flying fuck, I am taking their btc like if we were all back in 12.5 reward epoch.

The only way to rekt wizztards is to pee on their business model, they are gambling on the assumption all the inventory being created and shilled will be returned + gains once the bull run starts.

We need to work on a disclaimer narrative for the newcomers looking for a quick buck, this will come after a bull market is in motion (BTC above 70k). "oh you are being offered jpegs and shitokens onchain.. look here: meet Digital Ocean, also learn this tale about BTC trade pairs trending to single digit sats, milisats, microsats and picosats, did you know that some years ago elphant shitcoins migrated to die in cryptopia?

Its all scammers and griffters working hard on creating the next x100 x1000 pump. This will pass and this will really help bitcoin being more secure and also force shitcoin casinos to offer LN.

10 sats \ 0 replies \ @grayruby OP 9 May 2023

Well said.