Bitcoin: What Went Wrong? \ stacker news ~bitcoin

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374 sats \ 8 comments \ @Aardvark 29 Jan bitcoin

https://bitcoinmagazine.com/takes/bitcoin-what-went-wrong

It's a short read, but a pretty good editorial about the shift in ideology among bitcoiners.

The trusted influencers became VCs and advisors, equity holders, in companies in the space. They are cashing out. You are the yield.

21 sats \ 4 replies \ @DarthCoin 29 Jan

well said anon

0 sats \ 3 replies \ @028559d218 29 Jan

What do we do about this? Abandon Bitcoin and start over? Use something else? Just wait?

0 sats \ 0 replies \ @nout 30 Jan

Start mining and join only the pool that lets you include all transactions without filtering them.

0 sats \ 1 reply \ @anon 29 Jan

find new influencers ideally ones that are not groomed by the old ones to 'get in line' they are out there

100 sats \ 0 replies \ @028559d218 29 Jan

I'm not interested in or follow influencers. There are Bitcoin 'educators' that I read (and often disagree with) but that's completely different.

I was interested in Bitcoin before I had ever used (or heard of) Twitter anyway I think the whole site is a big psyop...

As an aside: The remarkable things going right now are in the mempool. It has almost cleared of transactions. All of these concerns about 'scaling' and 'fees' and 'self-custody being too expensive etc etc'...

Where the hell are the transactions to justify those concerns? Without spammy-transactions like runes and ordinals (are they are spam) the fees are... 1-2 sats/vbyte with the occasional empty blocks.

Now that the fees are so low people can "take self custody" and "exit their banks" and "transact freely and consolidate utxos and so on and so on..."

All the transactions around the world, 24/7 available with a smartphone, and yet fees are pretty low.

It just goes to show that the vast majority of people, unless they are very rich, or very poor, see Bitcoin as a store of value and not necessarily for regular transactions

86 sats \ 0 replies \ @grayruby 29 Jan

I mean Shinobi should talk to his boss. Bailey is leading the fiat and politicization of Bitcoin. Or maybe he should consider that the Bitcoin maxis he has been whining about for 3 years because they hurt his feelings should have been his allys.

51 sats \ 0 replies \ @DarthCoin 29 Jan

How should I start?

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