A billion people using bitcoin like that and we’d have fees as high as they’ve been for the last couple weeks. 3 billion and pretty much no one can afford to transact on chain for amounts less than 5 btc
So stoked for D4. I kinda wish it was coming out in the winter though. I know it’s gonna keep me inside for some beautiful days
“BULL BITCOIN is officially a No-KYC exchange!
The most secure, easiest, fastest and cheapest no-KYC method to buy Bitcoin ever in 🇨🇦. No ID, credit check or bank required…”
#bitcoin
https://twitter.com/francispouliot_/status/1655942024695287815?s=46&t=uCtrJ5yrHrimYVxhxRU7MA
badass
and they’re loud as fuck
lmao is this real?
I don’t think it’s a single malevolent actor, but yes, you’re correct. It’s a foolish attack because it’s expensive and ultimately temporary.
I think what happened is people from BSV and other shitcoins promoted inscriptions and BRC-20 in the hopes that it would cause congestion. They’re promising huge returns for people who buy this nonsense, which is why demand for it has persisted.
So a lot of people don’t see it as an attack, but some of the “influencer” types are definitely promoting it in bad faith. Here’s an example: https://twitter.com/coolish/status/1655505700318228480
It’s disconcerting for sure, and I’ve seen a lot of arguing past each other about it.
There’s two things that are true though:
1) it is a bad faith attack on bitcoin
2) the attack is just to use bitcoin and pay miners
If we find a way to soft fork and prevent inscriptions, that would probably be good. But there might not be a way to do that.
The attackers will run out of money eventually
I think this was developed with Iran in mind specifically: https://snowflake.torproject.org/
It’s really easy to run a proxy for people to use
I don’t understand anything about this theory. You’re saying gold as money emerged because of war?
It makes sense for you to feel that way, you’re an early bitcoiner.
You might feel differently if you were a nocoiner in 30 years, just starting to get your wages paid in “bitcoin”.
If they send you real bitcoin, you lose half your wages to fees. So instead you get ecash that you can cash out every few months