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Preparing to defend bitcoin against a new wave of social attacks w/ the merge
903 sats \ 9 comments \ @WhiteRabbitBTC 8 Sep 2022 bitcoin
So the long awaited "merge" is anticipated with ETH. What's this mean technically for bitcoin? Nothing. What this means socially though is we're about to see the FUD cranked up to 11 about bitcoins energy use.
There are some great long-form articles here debunking a lot of the energy FUD although unfortunately most of our critics are lazy NPC's who won't read anything longer than a tweet.
https://endthefud.org/
Feel free to help add any additional resources to combat the impending attacks and be sure to push back, ask the attackers questions that exposes their ignorance and makes people inquisitive instead of combative.
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226 sats \ 1 reply \ @scampy 8 Sep 2022
It's probably going to get ugly. The energy crisis this winter isn't going to help matters.
On the other hand, I don't think it will be long before the centralisation pressures of Ethereum's PoS become self-evident to even its most diehard proponents. Four entities control > 50% of validators and are free to censor at their discretion once the merge goes live (I find the UASF thing unconvincing).
The free market will eventually figure things out. Nobody really talks about blocksize increases for BTC following the demise of BCH, and I suspect it will be similar for Ethereum and PoS.
...but it will be a painful journey to reach that point. I'm not ruling out a temporary "flippening" to be honest. The hype is real, investors are naïve, Ethereum has lock-up tokenomics on its side, and Bitcoin is sitting at a cycle low.
Unless something catastrophically breaks in a few days, which again is a real possibility. :P
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50 sats \ 0 replies \ @WhiteRabbitBTC OP 8 Sep 2022
Based analysis. ty
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165 sats \ 0 replies \ @scottmsul 8 Sep 2022
I wrote an essay recently that goes into how PoS works at a technical level and how each aspect of PoS contrasts with PoW. It's a good resource if you're curious to see how the issues with PoS emerge from first principles.
https://scottmsul.substack.com/p/a-bitcoiners-guide-to-proof-of-stake
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141 sats \ 0 replies \ @takaponka 8 Sep 2022
Beautifully said. The false bias that if something uses energy then it's bad comes a lot from climates degenerate propaganda.
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120 sats \ 0 replies \ @shyfire 8 Sep 2022
This latest whitehouse report is almost surely a part of it. There must be a mind boggling number of man hours being spent by eth maxis trying to kill PoW behind the scenes.
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100 sats \ 0 replies \ @sgmoore 9 Sep 2022
Don’t worry about the FUD, you know what the truth is. Stay humble, spend time with family, and continue to stack sats.
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0 sats \ 1 reply \ @02174b3c39_lntxbot 5 Oct 2022
Relax
Don't defend, there's no progress in that, they can lie cheaply while you waste expensive time refuting nonsense.
Expand and improve and eventually, if not already, the value of Bitcoin will be seen to wildly outweigh the energy (which is moving carbon negative and actually improving the climate situation) and pathological abuses (which every public infrastructure suffers from, from electricity to the Internet).
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0 sats \ 0 replies \ @WhiteRabbitBTC OP 5 Oct 2022
There is progress in making sure the general public knows they should take their business to an exchange who won’t throw their customers under a bus for $0.02
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0 sats \ 0 replies \ @faithandcredit 8 Sep 2022
What can we do against this climate fascism?
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