Explain to me how the Bitcoin Core Dev Team does not represent a MASSIVE form of counter party risk. Ruminating on the OP_RETURN thingy dingy ... I'm literally contemplating selling everything and just walking away.
This Bitcoin has become so interpersonal , I want to scrub myself with a wire brush in an acid bath for an hour.
Use Monero.
Use it for what ?
A peer to peer electronic cash system without the need for third parties.
Use it like cash.
OK. I have like no peers. Nobody I know even knows Bitcoin, nvm, Monero. I need to know where to store my bags .. so I don't have to work forever. Now I'm thinking Gold/REITs and High Divvy ETFs for a bit of cash flow .....
I'm 60% certain Bitcoin is over now. It's okay. I made huge gains in my retirement accounts ... it was a fun 4 yr ride.
But, yeah, I'm aware of Monero's killer security aspect.
Save in gold, spend in fiat or other currencies.
20 American eagles today will get you a mid sized family SUV, and 20 eagles in 10 years will give you a mid sized family SUV.
Equities will help grow that savings with good, competent capital allocations, same with high yielding ETFs( just a broader form of equities managed by someone else)
I'm not sure where Bitcoin or Monero will be in ten years, but investing in good, revenue generating, GDP creating companies is a good starting point.
I hear ya brutha. I have a long history in trading Gold Fields $GFI , the famous South African company .... been trading for 20 years ... Bitcoin was a great ride .... I'm up about 400%-600% .... already unwound one retirement account .... will redeploy on Monday ...
Mm yeah mining companies are also quite risky. I'm in a few miners, but the obvious thing is the cost of mine and external factors like the price of commodities.
It's probably better to hold gold as the commodity (ETF or otherwise) than a miner. But when miners rally, oh do they rally
I'm an options guy which is why I loved $MSTR so much, but yeah, I hear ya. I'm looking at various Gold funds ... it'll take me a while to carve a new path ...
And I need to unwind a substantial $MSTR position. (oh well, only up 500%)
My main thesis now is Bitcoin is going to $0.00 and taking $MSTR with it. The first 24 hrs after Bitcoin Core 30 launch will be the beginning of the end. It happened to other coins. BSV apparently did the SAME EXACT SHIT.
BSV the Craig Wright bitcoin fork?
There's so many lol. Well I think the institutions and government will own majority of Bitcoin, with an issuance or bonds against bitcoin (anything but gold right?)
This is the biggest problem imo because the second largest holder after Satoshi is MSTR, followed by Blackrock and other American firms.
We may see other countries just leaving or excluding bitcoin from their countries, as it's too "American". After all, what's really stopping anyone forking Bitcoin and then just using it internally within their country or region.
An example like a BRICS Bitcoin; would they hold "made in America" coins or nah? Maybe to trade as reserves in their central banks? Or maybe just using Gold again.
My bet is Gold. BRICS will move back to a gold standard and already are trials of the Gold backed Rinminbi in places like Dubai (hub for trade). We've seen huge purchases from Russia in 2022, China in 2024 and this year and India is one of, if not the largest holders of gold in the world.
As it stands, based on public information, China has been getting rid of dollars quite substantially and buying gold. Russia is already excluded but still paid for fuel with a briefcase of dollars in Alaska which was hilarious. Publically though, USA, UK, France etc. all "record" more gold tonnage than China or India, which is just logically false. ICBC has vaults in the UK, but has been moving that gold out over the last year.
South African gold is held in ICBC vaults, and locally.
In fact, Trump announced a gold backed dollar bond (30yr) as a means to recoup and reduce the debt burden.
These are all signals underlying the entire economy
Best thing to do is run Bitcoin Knots node. We have freedom of choice that can't be taken away. And thats the resistance to keep Bitcoin pure monetary network.
Just did some research on the current Bitcoin Core Dev team. I'm out, it's over. Just updated my profile. I'm pretty sure I'm liquidating everything soon.
I am simply shocked at how asleep everyone in Bitcoin is. I'm doubly astounded how the whole thing rests on 5-7 Devs. Triply shocked when examining the new individuals on the Core Team. Why am I even having to talk about other human beings ... in terms of MONEY.
It's all been a lie .... the code is ALL HUMAN and it's been changing and CORE 30 is the end of the game.
Bitcoin is so interpersonal I want to bathe in acid and scrub with a wire brush for hours.
We have choice. Bitcoin Knots. Also some Bitcoiners may decide not to upgrade to core 30. Core 30 may end up being the end of core too. Remember how Roger Ver tried to hijack Bitcoin but Bitcoin survived.
I hear ya brother .... I'm running Knots . As soon as I heard the issue ... OP-RETURN 100,000 ... I was thinking, "NFTs, bloat". Along the way I posted as quickly as Kratter and Mechanic (not that I have 1/5th their IQ) ... about the threat.
Just last night .. it occurred to me .. wait, what? I was ying in bed and a YT podcast attempted to cover the issue and within 20 words I had them figured out ... they described Jamison Lopp as a "senior Bitcoin Dev" and I almost vomited in my bed.
That's when it occurred to me ... Bitcoin is now resting on like 4-5 Devs. A plurality just left and there's new players ... I doubt they have any Bitcoin. Visually observing other Core defenders .... I'm getting that creepy feeling.
Bro, its not just 4-5 devs.
Here is the latest pr / place where devs discuss the issue and you can see how many devs are involved (most easily just see the table with NACKs/ACKs).
There are devs with clear minds and there is solid opposition to the insanity.
https://github.com/bitcoin/bitcoin/pull/32406
Also many devs are contributing to Knots too. And if we want to take part and vote it is done by running a node, Bitcoin Knots.
This kind of reaction might indicate you don’t really understand bitcoin. Core Team doesn’t control Bitcoin consensus, we have the ability to reject their changes and iteration of the code and use another. Sure it’s an uncomfortable time, but Bitcoin is antifragile and the software was largely complete years ago. We need better support for additional devs
I hear ya. Yeah ... I'm not a coder. There are many, many people esp on this platform who are super technical and way beyond me.
I've run an umbrel node, opened Lightening channels, mined with an old S9 for a bit, I run Knots , I have non-KYC coins, KYC coins, and my life saved in brokerage retirement accounts (mostly MSTR shares, some $IBIT, $FBTC, some $MSTY). I'm just an average guy ... but only 0.1% of the population knows what I know.
You, Luke Dash and Mechanic ... are like the 0.001%.
I might not know Bitcoin well but I understand these new Bitcoin Core DEVs100%. PortlandHODL, bragging he is DDOS attacking Comast ISP customers running Knots ? The $MARA CEO laughing along with him? That transgender DEI hire Core DEV. Shitcoiner Jamison Lopp? Scumbags.
Max Keiser, Adam Back, Michael Saylor .... they're all asleep. BTC Sessions , Jor, Rajat, and his retinue of Canadian idiots attempting to be all snarky/neutral ....
But why are we talking about 8 DEVs at Knots and 6 at Core .... ? Not far from 1 guy at the NYC Federal Reserve.
The very idea on Core30 is insane.
I’m much closer to you than the 0.001% you reference. Despite incentives that discourage it, there will always be overt and covert bad actors in bitcoin. What’s the worst these devs can do? Introduce changes or vulnerabilities that temporarily hurt bitcoin and then…nodes shift to an older or different version, and support is lost. This will continually happen over decades.
My reaction was more in relation to the very strong stance you voiced that you’re “selling everything” as a result. Things aren’t great at the moment, but that seems overblown.
But we also need to fight the bad propaganda. Many people, some seemingly intelligent, leave themselves to be completely brainwashed.
I’m interested in your perspective, if you don’t mind further explaining your statement. Not sure I follow
If you read the core devs perspective (from the ones who want to increse OP_RETURN size to 100KB) and analyze it, it has no technical logic, it makes no sense and mostly is completely false.
But they continually repeat that nonsense and many people fall for that insance propaganda.
I sold because I believe that without massive rate cuts we’re heading into a cyclical bear market. I’ll buy back in a year or two. Until the I’m running a knots node and calling out corrupt core devs.
😁✌️
Just to reply to some things you're saying.
I don't think it's over for Bitcoin but Bitcoin definitely needs to improve soon.
Fix your fiat situation first, pay off debts, build an emergency savings fund then buy Bitcoin, and Monero.
Realistically I'd say probably 5% to 20% of your portfolio should be Crypto, stocks for compounding wealth, gold for appreciation, Crypto for protecting your money from the government.
Bitcoin won't make you rich, Stocks won't make you rich, Gold won't make you rich.
Consistently investing, and planning for your future will.
I'd also say explore Goldbacks if you're interested.
It seems like you understand Bitcoin but it doesn't hurt to touch on basics from time to time.
Bitcoin can be used in the same fashion as cash can be at most major stores with the right wallets like Gemini, and Coinbase, Cake Wallet, and Strike.
It's easier to live off of crypto now than it's ever been.
I hope when you're ready to explore the crypto ecosystem that it emboldens to be a sovereign individual, and live your life without fearing the government.
I hope for the best for you 👍.
