Altcoin Redux

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In a way, the ordinals scam is an excellent sign. Altcoins have long been associated with Bitcoin through the moniker of "crypto" and have used Bitcoin's good name to scam people through pump and dumps.

But as we've seen, this narrative is no longer what it used to be. There are enough people that have recognized the pump and dump nature of altcoins as well as Bitcoin's continued rise that there's a distinction made in the peoples' minds between Bitcoin and altcoins. One is sound money, the other is fiat 2.0. The scam of altcoins, in other words, is starting to fade and the returns aren't like they used to be.

That's why ordinals and BRC-20 are becoming more popular. There's little chance of escaping the "shitcoin" moniker by releasing a token on Ethereum or Solana now. The gulf between Bitcoin and altcoins is too wide and crossing that chasm, to scam newbies has become that much harder. But by releasing a token on Bitcoin, now there's a lot more room for confusion. They can claim to be supporting Bitcoin through fees while running the same scam. It's changing names and disguises so you don't get caught. This is the snake oil salesman leaving one town to get a bunch of suckers in the next town.

But this is where we need to be even more diligent. The people that are scamming are picking up the verbiage of the people that know what they're talking about. They're going to scam people by looking and sounding like the real thing. They can talk about sound money, self-sovereignty and property rights and even sound pretty convincing doing it. Except, of course, that token they want you to buy.

The time to separate the Bitcoiners from the Spamcoiners is now. They are running pump and dumps, just doing it with a new rationale like a new disguise and name. And they'll fool a bunch of people. Indeed, the people they seem to attract are the very people that pumped altcoins in the past. Altcoin-land is a scorched earth they've left behind and they want to run the same policies on "top of" Bitcoin.

Don't let them take over. Reject these charlatans and shame them for their chicanery. And if you're someone that's throwing up their hands and saying there's nothing to be done, you're wrong. You can do something by calling these things out for what they are. They're scams and the faster they fail, the better it will be for Bitcoin. And as we saw with altcoins in the past, ignoring them doesn't make them go away. Calling them out and relentlessly exposing their grift is what's needed.

can’t get over how fast setting up braiins firmware and joining a pool were.. less than an hour? I’m not technical at all

had irrational fear of mining for like 5 years. don’t be like me, jump in 🤙

GOOD MORNING NOSTR, THERE IS NO GRAND CONSPIRACY, I SIMPLY NOTICED BITCOINERS WERE HAVING TROUBLE FINDING RELIABLE FUNDING SO I LAUNCHED OPENSATS AND TEN31 TO SOLVE THAT.

IF YOU THINK YOU CAN DO EITHER IN A MORE ETHICAL OR IMPACTFUL WAY THEN PLEASE DO.

#m=image%2Fjpeg&dim=1008x1641&blurhash=%5EmK1alWBxvWWx%5Bof%7EqRjoLaeWBj%5B%3FvaxafbGaybHXSWVoeoLWBjtjEjZayayaeofMxWBfkj%5Boea%23azWVayoLayjZWVj%5BjZa%7Cj%3FWV%25MjsWVayWBf6&x=947a2ebccafdd2d0c947c493611500ce2b789bbe61eaa8f8d16958ae0a7e23fd

GOOD MORNING NOSTR, STAY HUMBLE AND STACK SATS 🫡

Man, it is really sad to walk around Vegas.

いまいち仕事がピリッといい感じに集中できないので自転車旅にでも行くか

A #bitcoin #miner can turn your winter into summer

If you are reading this message, you are the Resistance.

I'm still seeking a rational explanation for how the Ocean pool is going to succeed in the long term if it offers miners objectively lower fee revenue than other pools.

STACKERS ARE BUILT DIFFERENT. SUITS IN DISBELIEF. THEY ARE USED TO MOST "INVESTORS" SELLING AFTER A 100% GAIN.

WE NEVER SELL. WE SPEND WHEN NECESSARY.

one time i worked at a really great coding camp, and we had an off week without students

i decided i wanted to clean out the coat closet and turn it into a cozy spot for meetings. the space was an open floor plan and meeting spots were in high demand.

i spent the majority of the week moving stuff out, coordinating give aways of leftovers, another coworker painted it, i rented a car and made hardware store runs for supplies.

while i was doing all this, the majority of my coworkers hung out and had important conversations about how to improve the space.

i dont think anything they planned or discussed came to pass

the cleaned out coat room was well loved and saw a few different makeovers before the org moved to a new location

conversations are important, but action matters more

Japan has the highest inheritance tax in the world. It’s probably the only country in the world that the harder you stack your sats, the wealthier the country’s rulers will become. It effectively disables low time preference strategy to accumulate generational wealth in the country. Maybe it’s time to start learning Spanish.

good morning nostr, become unruggable 🫡