Why not? Hasn’t ever occurred to you that our genetic baggage may have been seeded on Earth?

#Aliens #ET #UFO

There are for sure a lot of scams but most (not all) top market cap projects didn’t start with the intent to scam people. I think most of the top projects have been looking to innovate and bring something to the industry. Many (if not most) fail to do so but innovation in all industries always had a higher failure rate. But to me there is a difference between a scam and a failing startup. Sometime, it’s unclear whether a project is more of a scam or an enterprise which genuinely failed to deliver on its promise. Now, you’re right that the tokenomics of most (but not all) #crypto is horrendous because of the initial distribution. Does this make them a scam? I don’t think so, but it certainly makes them a poor investment for retail investment in which initial investors can certainly be qualified of profiteers. Again, Bitcoin had been the best investment since its inception (although it hasn’t been in the past cycle) and it can’t be replicated but that doesn’t make every other project a scam.

Bitcoin can’t scale on-chain? Maybe that’s one reason we should have drivechains…

That’s totally fine that you don’t need any of these but others want/need them. Hence, my original point to say that it’s nonsensical to call everything but #Bitcoin a #shitcoin, unless you think the World revolves over your personal needs and those of your pairs.

I don’t really understand the « beauty contest » analogy here 🤔. Not all miners need to participate. Miners will do what is in their best economic interest and #drivechains activate based on pre-defined thresholds. You’ll probably be allowed to run a #drivechain node if you want. If you don’t want to have anything to do with #drivechains, then just keep using #Bitcoin as you currently do. I don’t see what’s the problem with this.

By your logic then #Bitcoin mining isn’t trustless either. You could say « you need to trust the miners to include your transaction in the block ». The reason your transaction will be included is because miners are financially incentivized to do so. Same goes with pegging out your #BTC from a #drivechain. Honest miners will do it because that their interest to do so.

A miner couldn’t practically steal coins from a chain that has the support from other miners. If a chain doesn’t have support of the miners then I guess, the chain doesn’t bring enough value to the table.

There are several valid capabilities #Bitcoin doesn’t have that other #crypto aim to make available such as:

- Base layer privacy

- Non-pegged stable coins

- Cross chain swapping

- Decentralized finance

- Digital ID

- Crypto-economic base marketplace

- On-chain payments

- Global on-chain scalability

Of course there a also plenty of copycats, weak projects as well as outright scams. And also, the tokens distribution of most projects is heavily weighted toward a few individuals. But would you call every fruit a bad apple because of few rotting apples seen at the grocery store?

I agree that economically active nodes such as exchanges or wallets are important in deciding the outcome of a fork but these actors are not the same as « users » but even those actors can’t setup the rules alone. It really depends on the particular scenario et dynamic at play.

The main benefit of #drivechains against existing L2 is that it is trustless and secured by PoW. There is no value in building it on top of a L2.

I think there are some misunderstandings on how #Bitcoin consensus works. https://youtu.be/vM_Ski2eK6A

I guess you meant to say « is against the #BIP300 update ». I don’t know what is nostr:npub15dqlghlewk84wz3pkqqvzl2w2w36f97g89ljds8x6c094nlu02vqjllm5m official position on #drivechains or if he has taken an official position but based on this recent tweet, it seems to not be supportive of them: https://x.com/saylor/status/1697874866102325255

#Bitcoin maxis calling every other coins a #shitcoin only demonstrate their lack of curiosity or unwillingness to learn.

Maybe it is also a way to conceal their ignorance on the broader #crypto industry and feel comforted in their investment thesis but, as one said: « The greatest enemy of knowledge is not ignorance, it is the illusion of knowledge ».

It’s okay to not know about every other #blockchain out there (who can keep track of all decent projects anyway?), but don’t call them shitcoins if you have no clue what they are or what they can do for you.

The count above had been invalidated but my downward targets remain. Now looking if we can start a wave 1 of 3 of 3 of 3.

#BTC #ElliottWave #Trading

nostr:npub15dqlghlewk84wz3pkqqvzl2w2w36f97g89ljds8x6c094nlu02vqjllm5m says he wants people to build on top of #Bitcoin so I guess he should be open to #Bip300 and #drivechains but apparently he isn’t. What do you make of this contradiction?

#BTC #drivechain nostr:note1rgcdrt255jqfw5r7fz3255rgfjhlvfwuwzezmvy40wamvtyxpyms87rg2q

Institutional trust takes decades to build and months to destroy. #Covid19

#Privacy will never be easy and convenient but it can be made easier and more convenient to adopt. The rest is all about accessible education and willingness to learn. Privacy will likely never be affordable to the mass because of the time and skills it requires. Even if privacy tech isn’t for everybody, it’s important for users of privacy-preserving tech to grow the user base to a critical mass especially for tech for which the value depends on a network effect like #Monero.

Is it fair to imply that in general, VCs have an interest in the de-anonymization of #Bitcoin users or am I misinterpreting this?

But the elephant in the room here is that Revolut will start implementing the #TravelRule.

According to my primary #ElliottWave count, I’m looking for #BTC to reach $20,101. #Bitcoin must remain above $17,875 for me to be bullish after the coming drop.

#Trading #Crypto