Subnostr

Shitcoins

Shitcoins are never going to go away, I gave up hope years ago.

The human being loves gambling, proof of this is the multimillionaire business of casinos around the world in cities like Las Vegas, or Macau, the multimillionaire business of betting or online games like poker.

Shitcoins are just that, a casino and people love to gamble and lose their money.

The problem is that now shitcoins are screwing up the Bitcoin mempool and we don't seem to care. Bitcoin is not ready to scale and neither are layer 2 technologies.

Bitcoin needs serious development like the Linux Kernel has, development that combines the goodness of FOSS but also enterprise power as for example with Red Hat or Intel on Linux.

I was hoping that Blockstream would play that role but I get the impression that investment is lacking.

I'm just thinking out loud.

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Discussion

Bryan 2y ago

Yes.

Adam 2y ago

OGs have thousands of coins (or more) and yet investment is merely a trickle. I don't get it. I would think they would be more incentivized to protect and grow the network. It's a win-win for them.

100satsaday 2y ago

It is fine. Ordinal inscription is a kind of development it just haven’t got to the point for someone to find its real use.

HolySats 2y ago

I also use term shitcoin casino…

But let’s be honest, it isn’t the best one. Shitcoins attack a bit different weakness in people than casino.

Most people gamble in shitcoins because they are desperately trying to escape #fiat #ponzi.

Most people in casinos - at least here in Europe are considering it to be “fun”. Of course there are some sick gamblers which are able to endanger their families, but they are like 1-2% of all players.