15jx1bP54GxstAZG8oZkgYeFRHgGaxt6tm (190) ·
BTC now seems fully lodged in the mainstream consciousness as a solid place to store wealth.
That may be enough to make it such. Absent a bank run, the lack of transportability won't be noticed.
Is it too late for BTC to be undone?
Replies
1Abd9yJS6mrzMmj1Ni6kjQB9GqtyaNujrm (3375) ·
No
15jx1bP54GxstAZG8oZkgYeFRHgGaxt6tm (190) ·
How do you see the undoing play out?
1Q3jjKsoGJtNTysY5hjVUvbqbhcnqTLNpH (1752) ·
Transaction fees will reach a threshold where people can no longer move or cash out. This will bring about lots of anger and a souring on BTC.
ASIC miners will begin to lose money and jump ship to other SHA-256 coins.
Many potential paths to BTC death.
19gAUDU4VQoVuLgeL9pwTepPsZonqvALhv (678) ·
yes. been saying this for a while.
19gAUDU4VQoVuLgeL9pwTepPsZonqvALhv (678) ·
it was fun fantasy that muh kreg gona dump and demand btc drop the bitcoin etc.
haha and we fell for it
I think he is even proud of it deep down.
17wiCRZuJ9GWumnjr1shRfLVzRHd5BzDiR (8015) ·
It's a race.
What will happen first - bank and regulatory-compliant "scaling" via SQL or mempool congestion 2017 redux x10?
Many in BSV discount the former. I wouldn't. But it would mean that nothing changes and BTC becomes more controlled than GLD.
17wiCRZuJ9GWumnjr1shRfLVzRHd5BzDiR (8015) ·
The latter is a milquetoast version of what the original ethos of bitcoin was all about so I find it largely uninteresting.
It also favors gold as that decades-long manipulation scheme is in the process of winding down.
16SgJCRH7fB5ny6wCHabmiGaa6wcbve6WS (21877) ·
It's been too late to stop crypto since wikileaks and Satoshi's disappearance. As for BTC, that depends how you define it. In other words, how much is the protocol allowed to change and still be called BTC? Why do we call this coin BSV and the other BTC?
12hoXPAPeK8eGdTbzL6Evem8cTRCichEFJ (15946) ·
I still have a sour taste from having to pay the same cost in BTC fees as the beer I was ordering back in 2017.
15jx1bP54GxstAZG8oZkgYeFRHgGaxt6tm (190) ·
Yeah I can envision some. But can increasingly envision it sticking around despite not working. Each day longer it lives makes people less scrutinizing of whether it works.
18LLtsYUzymBDBqNeyCVmPN6J4eFrAkxU1 ·
Btc is digital gold.
15jx1bP54GxstAZG8oZkgYeFRHgGaxt6tm (190) ·
Except maybe less mobile. ;-)
1Abd9yJS6mrzMmj1Ni6kjQB9GqtyaNujrm (3375) ·
They still get hurt from holding it. Eventually competition will drive them to optimize more. That will make them scrutinize.
1GCcubL8UsLD26uNeA47sWToznoDUjLTvf (25395) ·
I know so many people that are invested in btc and have no clue what it is. Like they just know people say its digital money and the lrice goes up. I think education is the key to the downfall of btc.
1Q3jjKsoGJtNTysY5hjVUvbqbhcnqTLNpH (1752) ·
There is a price between $10 and $1000 per tx in which most people will not use BTC anymore.
With gold shipping and importation are the bottlenecks but you can sell it to someone locally. With BTC a $500 tx fee to sell someone $600 is death.
19gAUDU4VQoVuLgeL9pwTepPsZonqvALhv (678) ·
https://twetch.app/t/9666003c241cf70b5695d22151514509b9fbd8769808023db25486b69259e786
13MckuFoT6zopfawknos5oP292KVXPKo3D (140) ·
Maybe decentralized exchanges is their hope & dreams. They probably can reuse the watchtowers and just lean back 😂. It's madness.
1J2YHSZqt58AcHsGug4RsqQD2FtqzbBUzo (3795) ·
It is not too late imo.
Listen to btc supporters, they all believe that btc is valuable because of scarcity alone ie 21 million bitcoin.
Well eventually the halvenings will cause issues for them, due to lack of scalability.
1J2YHSZqt58AcHsGug4RsqQD2FtqzbBUzo (3795) ·
Constant inflation will be proposed and will cause a fork.
This ship does go down.
Long time sure.
115Lv2nZscvCM18GruDYuwPiZcLu3Xzhv7 (60) ·
Also, BTC have paired the "store of value" narrative with a "not your keys not your bitcoin" narrative, so, unlike gold, where you can just trade the rights to it and not move it, you have to be able to move BTC or it's worthless.
1J2YHSZqt58AcHsGug4RsqQD2FtqzbBUzo (3795) ·
Or let me answer this another way,
What will BTC supporters use as money, if their fiat currency starts to hyperinflate? Sure can’t use BTC...
1GCcubL8UsLD26uNeA47sWToznoDUjLTvf (25395) ·
I might be off but it seems to me like they are going to try and use a token. Their version of bringing back the "gold standard". token will be their money backed by bitcoin.
1J2YHSZqt58AcHsGug4RsqQD2FtqzbBUzo (3795) ·
How will they make payments using a token on a congested high fee network with hour long tx times?
1Nweq4wuTeKCSGy6hHQjnx4yUPCNVb477K (6450) ·
Shhhhh we don't tell them that is a problem until we exit. Then we move into DeFi as the solution and repeat the exit scam.
1GCcubL8UsLD26uNeA47sWToznoDUjLTvf (25395) ·
Exactly. I see smug faces in the foreground but i see very nervous developers in the background knowing where this is headed. Just keep smiling and saying everything is ok as we try and "fix" it lol
19gAUDU4VQoVuLgeL9pwTepPsZonqvALhv (678) ·
offchain
15jx1bP54GxstAZG8oZkgYeFRHgGaxt6tm (190) ·
What's the old maxim, "The market can remain irrational longer than you can stay solvent".
16PxPghLAwVxv7guZoiWxwCCUZFSUBh5M9 (20825) ·
When BSV has 20x the transaction volume, actual enterprise companies using it, and far more hash rate then people will start to take notice. Right now it's a scamcoin to most outsiders still.
1Abd9yJS6mrzMmj1Ni6kjQB9GqtyaNujrm (3375) ·
I don't agree with that. I see the market as an endurance contest. You have to plan to be solvent longer than the market can be irrational.
15jx1bP54GxstAZG8oZkgYeFRHgGaxt6tm (190) ·
That's always the goal.
Hard to know how long the scams can run.
Social Security is still alive.
1Abd9yJS6mrzMmj1Ni6kjQB9GqtyaNujrm (3375) ·
Let's accelerate its demise.
15jx1bP54GxstAZG8oZkgYeFRHgGaxt6tm (190) ·
Now you're talking!!!
1J2YHSZqt58AcHsGug4RsqQD2FtqzbBUzo (3795) ·
“Use Lightning!”
How’s that going...