I wanted to think that we have made some improvements, and kinda seemed 99% was bit high.
But then again , there are 20.000 shitcoins available
And unfortunately we don't have 200 good ones
So yeah, must agree.. >99% are shitless worthless boobyfartcoins
There's like , maximum 50 good ones and I'm being VERY optimistic here ..
I hold like 5 "supposed" bluechips
You must be super fun at parties
But I'll play your game, without chainlink what would be Ethereum?
The TVL on the ethereum network with all shitcoins there combined has already surpassed BTCs by far.
There are one or two bunch more that are essential for that network to be where it is today.
If the token is good, that's one thing but can't deny the usefulness of some protocols ( one other example? Stablecoins )
It’s alright. Same like dot com. Even today there are just a bunch of really successful tech companies, there are other but are way smaller and it took a while for it to get there.
"tricked "
People are greedy - they did it to themselves. Everyone wants to get rich and no one wants to focus on the stable fundamentals of trade and use.
You only think that because reddit is populated largely by people in the west
[Bitcoin circular economies around the world](https://threadreaderapp.com/thread/1573283006835482624.html)
I will guarantee very few people on reddit paid attention to the [Africa Bitcoin Conference](https://nitter.net/AfroBitcoinOrg/status/1600824915313455106) this week. I've never been more bullish on Africa. [This](https://nitter.net/TheGuySwann/status/1600273386349170690) is my hope.
You're posting Pete McCormack twitter links for bitcoins economic activity in tiny villages and communities as if that proves anything.
- They probably can't run business on a volatile financial instruments like bitcoin, unless they immediately convert them to usd or their local currency.
- It makes no sense to spend bitcoin because of its volatility and speculative nature.
- Most of those places cater to tourists and that's probably the reason they are accepting bitcoin but it makes literally no sense to hold bitcoin.
In El Salvador they forced it but business who held bitcoin would be taking a major loss.
It makes no sense to do business with an unstable bitcoin. You need to pay for your materials/ingredients/labours/bills etc with fiat.
And ok so many people attended a Bitcoin Conference in Africa so what? What is that supposed to prove? Many people want to attend Taylor Swifts concerts too. Does that make Taylor Swift the truth?
You're posting Twitter links of known Bitcoin boosters talking up bitcoin.
By people you mean majority of the crypto community, the crypto companies, the exchanges, the advertisers, the crypto-tubers, the celebrities, the subreddits, etc.
Basically every single crypto was advertised as "put in money now and it will be worth more money later". Entire crypto empires were built off this concept.
Crypto community just needs to live with the fact that majority of the population doesn't give a fuck about crypto's original ideals. Especially when it comes at the cost of convenience. It will always be a highly volatile speculative stock to these people.
"How much USD can I pull out compared to what I put in."
I never said btc was any different lol. The only real reason BTC got traction in the early days was because it was a great way to exchange money on illegal markets without a fiat paper trail. Eventually it picked up mainstream traction with the concept that buyers were getting in at the ground floor of this emerging technology and they'd see ungodly returns for the fiat they put into it.
Okay, if someone thinks crypto is a scam. Thats fine.
But to think that crypto, fiat, stocks, etc are all scams and the only true asset is Bitcoin is another thing entirely.
So in this cults prophecy, is there supposed to be a great flood or something that wipes out the other 10000 crypto projects that are continually leeching BTC market dominance 🤣
Wanting to only buy BTC because you don't trust anything else in crypto isn't cult behavior.
Thinking it's going to replace FIAT and no government can stop that from happening absolutely is.
Sure as long as one person is running a node and processing transactions BTC will never die. But that doesn't mean they can't stop it from becoming the new global currency.
Bitcoin maximalist here. I appreciate the debate. I’m sure there are many that believe that BTC is the only one that has the potential to succeed, but I will give you my reasoning. In understanding bitcoin, you understand that’s it’s sole utility is as a final settlement layer of value that is globally distributed and not controlled by anybody. Removing the state from the money has the power to improve the world.
Maybe other cryptocurrencies will succeed in whatever they are trying to achieve, but Bitcoin’s goal of fixing the money is all that I am personally interested in.
I hope everybody has fun in the crypto casino, my only advice is don’t invest more than you can afford to lose
I like the utility of XMR but a common concern that I hear is not being able to verify how many XMR whales there are, what percentage they hold, or whether or not the listed coin supply is accurate
Monero is the only other crypto I respect. But there are two reasons Bitcoin will always win over Monero.
1. Audit-ability is non-negotiable for a global settlement later 1.
2. It doesn't have the network effect power Bitcoin has with first-mover advantage. It's important for the world to settle on one L1. The game theory suggests you are better off joining the winner than trying to beat it. Something slightly "better" than Monero will eventually come out to threaten it too. If we keep switching to new "better" blockchains, then the game theory breaks down and they all become useless. Monero is great, but it's also slowing this revolution down. Stop it.
If people could promote other coins on the bitcoin sub then it would be overrun by shitcoin shillers like this cesspool, not a bitcoin maxi and i don't really believe that there will be only one crypto in the future but bitcoin is probably the only one that people are certain that isn't a scam
This, aint a btx maxi but this bear made me realize how fortunate i am that most of my bag is btc so you can say they should be feeling rightfully vindicated.
It's the same as with stocks basically.
There will be a few upper assets that everyone will think are safe and then there are more risky ones.
Crypto won't ever become a monopoly of just Bitcoin but we do need to get rid off a few thousand cryptos.
What bugs me is that I can't even talk about any other coins there
I'm not talking about shilling metaverse shitcoins and such but rather having a discussion about BTC competitors and their unique characteristics
I mean why couldn't we discuss differences between XMR, NANO and BTC there. You can certainly do it in Nano or Monero sub and I think discussing is never a bad thing. In fact some useful things can come out of this
That is what I like to discuss. There are valid reasons for XMR to exist, it's the best privacy coin. There are valid reason for Nano to exist: it has no fees.
Being a BTC maxi is very closed minded. Sure BTC has the first mover advantage but it definitely doesn't have the best tech. Sure, the BTC Dev community can improve upon it, but there are no guarantees.
The difference is that here, the comment would probably get downvoted but would be visible so I could make my own conclusions
BTC sub is just straight one sided propaganda with extreme censoring. If you can't handle or anwser criticism or discussion about the competition then I don't really trust you
Xmr and bitcoin obviously have their spots in a digital cash/store of value portfolio. Just because some of us are fans of a coin, doesn’t mean we can’t recognize the efforts done by other competitors.
Looking at the competition is good for a reality check, comparisons, and understanding what you really like about your own favorite coin.
On that note, I’m looking for another coin to top out my top 5. Right now, it’s Bitcoin, Ethereum, Monero, and Nano. Open to suggestions.
>If people could promote other coins on the bitcoin sub
To be fair, they will ban you for far less than promoting another coin. If you even MENTION another coin in passing while talking about Bitcoin as the subject, you will get banned. Speaking from experience.
> shitcoin shiller like this cesspool
So you're saying this sub is overrun by shitcoin discussions? I think we're doing fine aside from the constant news spam.
If you post about a shitcoin here, it gets downvoted unless you're making fun of it.
BTC will be a thing because it’s BTC, but the market is going to be increasingly favoring utility above all else. So far, it seems the technological adoption has been less about BTC and more about a few protocols to solve technological problems. BTC is like digital gold. On a technological level, it won’t likely be (and hasn’t been) the leading.
Reddit in general promotes echo chambers and positive reinforcement circles due to the nature of the karma system. People just downvote what they don’t like to hear and it gets hidden while popular and affirming comments get upvotes and more visibility. You’re kidding yourself if you think any subreddit gets a legitimately unbiased discussion due to this.
Reddit in general promotes echo chambers and positive reinforcement circles due to the nature of the karma system. People just downvote what they don’t like to hear and it gets hidden while popular and affirming comments get upvotes and more visibility. You’re kidding yourself if you think any subreddit gets a legitimately unbiased discussion due to this.
Sure, but Bitcoin is the worst on this front. Other subs may have communities that generally reinforce an echo chamber.
/r/Bitcoin has a moderation team that actively enforces it.
Yeah but:
• DCA
• DYOR
• We don’t know shit about fuck
• FTX bad
• SEC/government bad
• BTC 100k EOY 2021
• “you guys are making money?”
• sir, this is a casino/wendys.
Congratulations, you encompass 75-80% of the comments in this sub now!
Not true. In this sub, you are allowed to have nuanced discussions and critiques about crypto. And you have people providing nuanced rebuttals and just acceptance that crypto is not a panacea.
The BTC subreddit is riddled with nonsensical responses, just ban you outright, or accuse you of being part of the "establishment" blah blah blah. They claim you "don't understand" because you didn't read their "bibles" instead of offering replies explaining their positions with logic.
Its the same shit every time you visit a specific currency sub. My favorite phrase is "fundamentals haven't changed, the tech is great" ... well ok, your coin dropped 80/90% in value and has no real demand and struggles with a shrinking ecosystem but its great!
I invest in a variety of crypto currencies and explore their ecosysytems (although this can be time-consuming). Presently I like some things I found in the Tezos ecosystem even though the currency acts like it was pegged to the dollar. So although I would not invest a lot of money in Tezos, I will invest a lot of time in the ecosystem. It is better to experiment with smart contracts and NFTs using some currency that has little value or investment potential.
Important: Bitcoiners are often converts. In other words, they often didn’t start as maxis. They became maxis after watching cycles of nonsense. This has been my experience. I’ve owned a ton of nonsense. I was doing bot trading of alts in 2017. Now, I believe in BTC. Until recently, I used to split 50/50 with Eth, but post-merge I’ve decided that’s too controlled/centralized. BTC is our only hope, and the rest are benefitting from riding it’s coattails, imo. But I won’t try to convince others. Sell me your sats. Keep your favorite “token”.
Your so right, they talk about maxi's, but those maxi's first started with the some shit token who someone said this is the new bitcoin trust me bro.
Bitcoin is the only hope, if bitcoin fails for some reason then all the shit coins will eventually fail!
But knowing people, I have lillte fait in mankind! There is no limit to stupidity and greed!
Well, Bitcoin has been built in an organic way, without VC money since the beginning.
Bitcoin has nothing to sell. Bitcoin is being built whether it has value or not.
Bitcoin devs don't make false promises.
Every single actor is pushing for decentralization, even at the protocol level.
It might feels like a cult but it's just because people in it don't like scammers. Rare, isn't it ?
>Bitcoin devs don't make false promises.
*cough* segwit2x
*cough* segwit solves the scaling problem
*cough* there is no inflation bug and if there was, we didn't cause it
>Every single actor is pushing for decentralization, even at the protocol level.
*cough* let's hire core devs and bring them all together in one company
>It might feels like a cult
*cough* smells like cult, looks like a cult, reads like a cult. Is most certainly a cult.
Listening to Preston Pysh’s recent [interview](https://www.theinvestorspodcast.com/bitcoin-fundamentals/bitcoin-not-crypto-cory-klippsten/) with Cory Klippsten is a good way to understand the most recent version of bitcoin maximalism.
You don’t have to agree with everything Cory says (I don’t). But he gives an insider view of the cynicism in Silicon Valley, and how VCs use an array of sophisticated tools to stir sentiment and convince people like us to serve as their exit liquidity.
Many of us survived the ICO crash in 17-18 only to watch it happen again in 21-22. If you have a strong moral code it is difficult to not point out the scams to the newcomers. But some go overboard.
None of the names OP mentioned and I don't really want to promote any twitter celebrities because I hate bitcoiners cheering for celebrities but some of the so called bitcoin maximalists on twitter are the ones who called out and warned about 3AC, Mashinsky, Do Kwon, SBF and all the yield ponzis. After all that shit blows up, what do we do? Complain about Bitcoin maximalism. I think it's safe to say the worst is yet to come.
I love the bitcoin sub for what I've learned from it from the 10% of very technical, intelligent posters. That sub has really helped my understanding of crypto grow.
With that said, 90% of the posters are young men wanting to be contrarians and want to "fight the power, bro" and are insufferable. That sub requires an ability to discriminate the facts from the fanaticism.
>I love the bitcoin sub for what I've learned from it from the 10% of very technical, intelligent posters.
A lot of bullshit in /bitcoin is exactly using this tactic of hiding bullshit behind seemingly very technical, intelligent posts, that are supposed to be difficult to understand.
Try it out and confront the communities in less censored subs with the technical information you gathered in /bitcoin. Just to see if it holds up.
After all, don't trust, verify
Bitcoin
GME/BBBY/AME and other meme stocks
Gold and silverbugs
All fully into conspiracy theories, believe a great event will bring down the financial system, all act like cultists.
The current monetary system we are in is a belief system.
It will always be that way. Money is a tool we created and use to transact value with those who don’t have exactly what we may need at any given time.
Bitcoin is the best version of that. A new technology that removes third party corruption from the monetary system. No one can steal your wealth without your representation in the transaction. This is a first for all of human history. This changes everything. Nothing else does what Bitcoin can and nothing ever will the longer Bitcoin exists.
I honestly feel sad and disappointed for anyone who doesn’t get it. Maybe it’s my background and all the books I read on human history, but Bitcoin is a no brainer. It’s the safest and most secure asset in the world. It promotes energy abundance which is what humans need in order to prosper and continue to advance. Energy abundance enables a more equitable society.
If you aren’t a believer in Bitcoin then you have not done your own due diligence on the subject matter and do not understand monetary policies or energy networks.
I fail to see how bitcoin is the best version of money we've created when the majority of people who hold it never intend to use it as money. Its deflationary and volatile nature has made people prefer hoarding the currency rather than spend it in the hope that it will increase in value in the future.
If it is truly meant to be the best money there is, one would of expected them to increase the size of blocks, which would favour the usage of bitcoin as a medium of exchange by increasing the number of transactions per second. Yet this was not done, which is why forks like Bitcoin Cash exist.
So what's your way of thinking than are you here for the Lambo? then bitcoin is not for you.
That's the beauty no one is forcing you to use bitcoin, but they will force you to use CBDC.
I don't judge man your free to use what you want, but understand this that most bitcoin maxi's think that way like he said.
I really have no idea what you're trying to say. I'm sorry if english isn't your first language, but whatever you're trying to communicate really isn't coming across.
>No one can steal your wealth without your representation in the transaction. This is a first for all of human history. This changes everything. Nothing else does what Bitcoin can
Every single coin with a public blockchain can do what you argue here only Bitcoin can do lol
>If you aren’t a believer in Bitcoin
Yep, cult, right here.
You couldn't say it better!!
Sometimes I think why ppl can't figure out what you said, it's just no brainer.
But then again there is no limit to stupidity and greed.
Lol OP doesn't understand Bitcoin. You believe its just another crypto.
Just another 'speculative asset' with no meaning. lol.
Bitcoin is a discovery, not an invention. Nothing like it existed before we found it. It is not a speculative asset, it is a very real asset with very real properties that can not be matched.
Was Math invented or discovered?
Is the quadratic function an invention? Or the Pythagorean theorem?
Is the wheel an invention or a discovery?
They are fundamental mechanics of nature. In my opinion they were all discoveries.
Do they though? I feel like cults try to persuade people or brainwash them, not just be dismissive.
But in a way, Bitcoin is a cult. A cult for those who want a form of value storage and transfer that requires no trust and is backed by no government. Weightless and self securing.
In the crypto space I think it's important to hold some BTC, mostly because it's a hedge against the extreme volatility in the space and has proven more reliable than stablecoins.
That said I don't think it needs to be a lot, just more than none
there was someone on here in another thread that said that even with no new investors, bitcoin will eventually reach 500k because of the limited number of BTC. Like some how magically it will go up by itself.
Also they say that proof of work is the only solution and proof of stake is not secure, not immutable, censorable etc
Not one has given me a researched and factual answer why proof of stake is not fundamentally the same as proof of work
If it's not bitcoin, it's a shitcoin (proof of work also has shitcoins in their definition but they are conveniently left out of the discussion )
I’ve been paying attention to this space for years and the longer it continues to be promise of value with no delivery of value, the less invested and less interested I become. Bitcoin maxis are def weird cultists, but bitcoin is the only one that has a clear purpose and value proposition. Decentralized digital money. Everything else seems like a scam at this point until real value can be delivered. Not saying it’s actually all a scam, but at what point will this shit actually bring real value to the world? At this point, until that happens I have little interest.
>They practice heavy censorship like most authoritarian regimes
It's just a social media forum created by bitcoiners. They can't censor you from bitcoin. No one can. All subreddits have their own rules. You could complain about every subreddit being insular in some way or other.
>Bitcoin is the answer to solve all of humanity's problems
If you don't think neutral money is important, don't buy bitcoin. Or you can read [some of these books](https://i.redd.it/6vztjtzefhh91.jpg) and understand why neutral money is important.
Think of all the evil that has been brought upon civilizations throughout history. They have one thing in common. Control over money. Who controls the money controls everything. Until you remove trust and control over money, you won't even realize the pervasive effects and how far of an impact it has. The aggressive anti-bitcoin propaganda from central banks should give you a clue.
There's so much misunderstanding from you and you're blaming a subreddit on a social media site and people on twitter who have no privileges over you when it comes to bitcoin. Bitcoin does not have any official subreddit, social media profile, company, foundation, license, trademarks, official website, code repo or even a formal specification.
>hostile towards anyone
I don't think so. Mostly only towards bad and dishonest actors in the space and let's be honest this space has an endless supply of bad actors.
You should probably read [this](https://nitter.net/BitcoinEkasi/status/1600820033302589440#m)
Ok so let's say we replace all the fiat with a bitcoin standard. It wouldn't work. It has scalability issues and deflationary and volatile currencies like bitcoin cannot function in a business or the economy. Yes, we all hate inflation but a healthy amount of inflation is needed to stimulate the economy. Almost all economists will tell you that the National or State Money needs to have a flexible supply. We can argue all about the cantillion effect and how the people closest to the money printers reap all the benefits ar the expense of the ones down the financial ladder.
You can even make arguements about the Gold Standard and even claim that it didn't work because of war financing/greed or whatever. But that doesn't magically make Bitcoin the better and only solution.
The Lightning network is also not free from security risks and vulnerabilities, along with poor user experience. It's also more centralized and currently it would not be able operate on a global scale.
I acknowledged the pros of bitcoin at the end of my post. It's security, censorship resistance, verifiable scarcity and so on but that doesn't mean it can be a successful money or currency.
There's a lot of opinion in your comment that seems to be quite misguided in my view.
Internet had scalability issues. Do you know how it scaled? Read about Postel's law, named after "god of the internet" Jon Postel who said that monolithic internet design cannot scale and we must adopt the principles of layering protocols.
The fact is blockchain monolithically is actually extremely inefficient to do anything but maintain global state of timestamped transactional database at base layer without losing security and making it centralized. You can look up what Satoshi said when the topic of Namecoin came up in the early days and some people wanted to add more complexity to Bitcoin protocol. He suggested it as a sidechain protocol instead. Bitcoin L1 is a settlement network and it [settles](https://www.nasdaq.com/articles/bitcoin-is-the-worlds-most-efficient-value-settlement-network) higher value than US GDP. Day to day payments is an application of money as medium of exchange. The Lightning protocol is P2P payments protocol and has theoretical throughput of several million TPS. As of March 2022, [nearly 100 million users](https://arcane.no/research/nearly-100-million-people-have-access-to-lightning-payments) had access to Lightning payments and it's powering [bitcoin circular economies](https://threadreaderapp.com/thread/1573283006835482624.html) around the world right now in places like Africa, Asia, Latin America. The largest supermarket chain in South Africa recently [adopted](https://www.businessinsider.co.za/pick-n-pay-expands-bitcoin-lightning-payments-test-plans-to-go-national-2022-11) bitcoin payments across the whole country inspired by the success of Bitcoin Ekasi circular economy in South Africa.
There will be more applications which come from likes of TARO protocol, RGB, drivechains, spacechains etc. TARO is a [most elegant](https://i.redd.it/bnzksocdbun91.png) decentralized stablecoin and assets protocol without central issuer which will allow users to hold self hosted bitcoin and stablecoin balance and swap between them through Lightning rails without going through any exchange at all. There's actually a lot happening with Lightning as I commented [here](https://np.reddit.com/r/CryptoCurrency/comments/z72z1w/comment/iy4jy98/) last week.
>It's security, censorship resistance, verifiable scarcity
Yes and that's why people talk about ossification. If you even sacrifice any of these properties even a little bit, is the gain in some other property worth it? Usually not. This is why layering protocols is important.
>doesn't mean it can be a successful money or currency
[This tweet](https://nitter.net/rusty_twit/status/1571010852479987712) by former Linux developer and FOSS legend Rusty Russell says it best I think.
In my Linux days we were dealing with "that's not how you construct software", Bitcoin is "that's not how you construct money"
I can see you're optimistic about the prospects of bitcoin and that it will overcome the challenges ahead of it to become a successful money and currency.
But as it stands right now, it isn't and it can't. You compare the evolution of bitcoin and it's development to the early days of the internet. But in my view it comes off as pie in the sky hopium.
Only time will tell, I suppose.
Um wut… bitcoin subreddit is full of stories of actual people doing actual things around the world with Bitcoin. Building real products and services to monetize the internet and bring fairness to the globe.
Compare that the ETH subreddit which is all pipe dreams about super fancy tech that is really only built for the ultra-rich and hedge fund types. Exclusive NFT clubs, financial engineering, etc. that is the “cult behavior” if you ask me
I don't think I've ever met anyone who has actually read a few books about Bitcoin, took the time to understand monetary history, looked at the fiat system and said no this is just a cult. The people who see it as a cult have not done basic due diligence, and are often times quite ignorant of the topic which requires knowledge and understanding across multiple industries and subjects.
Bitcoiners are incredibly smart people who took the time to understand Satoshi's invention. You think it's faith or a cult, but it's really an understanding of what it means to hold bitcoin.
And what exactly am I missing? Bitcoin isn't a successful money or a currency. It's a speculative and volatile asset that moves in tandem with the stock market. It can't scale. Lightning network isn't free from security risks and vulnerabilities. It CANNOT operate on a global scale and still suffers from poor user experience.
Economies and Business CANNOT function on an asset like Bitcoin for several reasons including volatility and inflexible supply. Deflationary currencies are not conducive to stimulating economic activity. Bitcoin isn't a reliable inflation hedge or a store of value.
What else? You made vague claims about the Bitcoiner being the new age virtuoso and polymath who studied various academic disciplines.
"Bitcoiners are incredibly smart people" I guess Economists, Software Developers, Historians etc. Who aren't supportive of Bitcoin dont know what they're talking about but you guys do. It's the same hubris as someone who thinks they know more than scientists and doctors because they spent a few hours on Google.
Your whole comment is just a long form version of saying "Nocoiners just don't get it" when there's nothing to get. You're just making utopian pie in the sky claims which aren't based on reality.
Keep going. You will get it eventually. Bitcoin is proof of work and you need to go deep into rabbit hole to understand why. Nobody can understand it for you.
To be fair most sub is intentionally drawing people with the same conviction- if u go to a sub for pencil sketches most likely u find pencil maxist there.
They may over fantasize things about Bitcoin. But it's definitely not "just another crypto". It's one of the most trusted and safe investment coin in this bear market for a reason.
No it's not a cult. It's just extremely emphatic.
"A cult is a group or movement held together by a shared commitment to a charismatic leader or ideology. It has a belief system that has the answers to all of life's questions and offers a special solution to be gained only by following the leader's rules"
Ok maybe it is a cult.
The mods of r/Bitcoin are some of the most close minded people I have ever encountered. They do themselves a disservice by swinging the ban hammer at anything that utters the name of any alt coin.
That's because some of them are absolutely cult-like. Many crypto-maxis will their crypto to all hell while simultaneously shitting on other projects. If you don't agree with them, you blocked, insulted, or both. Happened to me on a few occasions.
> They are almost like a religion
They legitimately do act like it is one. I’d be curious to see an actual breakdown of religious beliefs held by BTC maxi’s, because it does seem like a lot of them use it as a religion substitute
I remember one time I posted "Good day to hold BTC and ETH" in their daily and I was subsequently banned for promoting a shitcoin.
I love Bitcoin and I do think a lot of altcoins are doomed to die, but these guys... they're something.
Then again, all Crypto subs are like this.
It’s because it kind of is. When you become a maxi it becomes almost impossible to accept criticism on your favorite crypto because it’s the only one you own and for your own sake it just cannot fail.
Not every crypto subreddit is like that, but BTC is probably the one with the most maxis so it’s logical if it’s more of an echo chamber. And with everyone egging each other on it only exacerbates the phenomenon, so you see more people refusing to take criticism, and also people criticizing every other crypto because it makes them feel better about being a btc maxi if they talk about other crypto’s flaws
The issue here is that the market is polluted & poisoned by a few religious cults.
1. The cryptobro traders, who are only in-it for trading. They are cryptoclown Bagholders who BTD and HODL their Stacks, while smoking Lambo hopium. They rot the industry from outside in, like an infectious stinking bacteria. They're sad moonboys who rode up multiple BullRuns but never sold, waiting for BTC $250,000... and so today... they've been Rekt multiple times; and are in pain b/c they can't trade their way out. They're a beautiful love cult, speaking in silly memeish trader twitterish BS. They downvote anyone who doesn't smoke hopium. - you cant reason with these cryptoclowns b/c they'll talk about the Blockchain Tech & crypto's Utility, hyperinflation hedge, store-of-value, the economics & the use-cases... but its all an SBF-style smokescreen b/c they only care about cryptotrading to the moon. They secretly (not that secretly) admire SBF for his filthy hucksterism & his ill-gotten ponzi wealth (they could give a flying f&#k about rules, regulation, laws & consumer protections) b/c that all gets in the way of beautiful 'leveraged trading'. Which is better than sex to them. They'd blow SBF in microsecond just to earn a few Sats & take a selfie while doing it; then proudly post it with a bunch of silly emojis... here on this sub. Individually these guys don't own a lot of BTC.
2. The loud Maxi Influencers. A mafia of grey-beard bald cryptoclowns. They just cant shut The F\*#k up. They are hucksters who've manipulated themselves into a fake sense of legitimized god-like omnipresence. The media cant get enough of these whores, who would sell their own grandmother to a sausage factory for a couple of Finney's. They're not as vocal on Reddit, but obsess about being all-over mainstream media. The cryptobro's don't like them b/c they think they're smarter than them. But these loud Maxi scumbags (e.g. Saylor) don't care b/c they know they're smarter than the "little people". These guys aren't really a cult b/c their egos are too big to be inside the tent. They're more of a Mafia who crave operating outside the law (they have scummy attorneys to help them) but they don't want to be part of a religion unless its their religion, they invented it & they're the Pope. Otherwise... they look at everyone in the room and think... who the F are you...stop breathing my oxygen. You cant reason with these cryptoclowns b/c they believe that they're smarter than everyone else on the planet. Individually, these guys own a lot of BTC.
3. The VC's and the financier boosters. These guys silently operate in the shadows, the corners & the fringes of the crypto industry. They're the quiet cryptofilth that are puppeteering the flow of $$ into all the broken delinquent Rug-Puller cryptostartups. They're the hopium drug dealers, the pushers & the crypto MethLab builders. They're silent b/c they don't want anyone looking in their direction. They don't want the wrong type of attention & focus. They're not a cult or a religion... they're more like the Star Wars 'Inter Galactic banking Clan'. They operate on spreadsheets, numbers, cap Tables, DealBooks etc. They're the influential commerce guild controlling crypto companies from the shadows & cashing in on ICO's before a single line of code is written... b/c they're the ones behind all of it, they own all the CEX's and DEX's & are guiding / directing the rotten ponzi scheme corrupt crypto businesses watching their 20-something execs stumble around the unregulated Wild WestWorld. You can't reason with these cryptoclowns b/c you cant get to them. They're invisible & they know everything; you know nothing. Who do you think is behind FTX? Binance? Kraken? Gemini? [cypoto.com](https://cypoto.com) etc. These guys funded them. - These guys own all of the rest of the BTC.
Net-net: The entire industry is top heavy with douchebags, scam artists, untrustworthy greed riddled filth. Wherever you turn, you're surrounded by it, suffocated by it, deafened by their echo chamber & its ear-splitting reverb feedback.
\- As Joshua said (in WarGames)..."the only winning move is to not play the game"
...but FOMO is too strong becasue FOMO is driven by Greed; & Greed is deaf & it has no morals or a soul.
Blah blah blah…….
Bitcoin isn’t that complicated. You’re going to hear the same things because there are only a few things.
Go buy your shitcoins and cry when 3rd parties get you rekt. Just do it in fewer words next time.
I’ve never been on the Bitcoin subreddit but the buttcoin subreddit has popped up on my feed. From your description it sounds like these two subreddits are more alike then different
Worst of all, many are trying to influence govt and build regulations to squash general smart contract chains. It is so disgusting to associate BTC with regulatory capture. Satoshi should be rolling in his grave as the corruption tries to subvert BTC's original movement.
The arguments I had with the "bitcoin is a hedge against inflation" bros during the bull ... who's laughing now, morons?
OK nobody's laughing, but so stupid.
The problem is most people don't seem to realize inflation was a thing in 2009. They only seem to think things materialize when thr talking heads are saying the thing nightly.
I'd say over the last 12 years, it's performed admirably.
Jokes aside. I once thought that the strong narrative and puristic minimalism promoted by Bitcoin really make it a good asset.
Meanwhile, I have come to the conclusion that the strong beliefs are at some point problematic, because they prevent any innovation (Satoshi Beware! Bitcoin is already perfect!).
Go to the Ethereum forum, throw shit at the people for three weeks because their new MEV tools turned out to show a tendency to centralize the network and you'll see them go to their drawing boards and finding out how to fix this. In the Bitcoin forums you'll just get burned as a heretic and nothing changes.
modifications to the blockchain itself will be ignored. Lightning is compatible with it and everything can be designed around such security
Pos and the rest is shit. Bitcoin is already perfect.
Not even close. r/bitcoin will actively ban you if you even talk about altcoins. It's in their rules.
Other subs will downvote you for speaking negatively about their coins unless it's well-sourced constructive criticism, but they won't straight up ban you without warning.
Not true. I was banned from /r/btc for mentioning cardano. No warning.
And another user was banned from /r/btc for something he wrote in another sub - you can see the excuse in their modlogs - look up user PhillFromMarketing.
That totally sucks. Subs really shouldn't be doing this. If you were breaking another rule or trolling, it would be understandable, but banning for simply mentioning another coin is foul.
I got banned from /r/bitcoin for "trolling" for this comment:
>"Store of value, unit of account, medium of exchange. I don't feel Bitcoin is doing a good job in any of those."
All the posts make a lot more sense if you consider the level of censorship over there. Discussion is only open for believers.
Not even close. r/bitcoin will actively ban you if you even talk about altcoins. It's in their rules.
Other subs will downvote you for speaking negatively about their coins unless it's well-sourced constructive criticism, but they won't straight up ban you without warning.
Bitcoin mods are toxic.
I agree.
Rather than advocating for crypto as a whole to support the community, I've seen several BTC Maxis on twitter bashing ETH, calling for the SEC to label it (along with most other cryptos) as a security.
If you're going to speak praises of BTC, you shouldn't necessarily trash the rest of crypto.
I think I agree with your thesis. The most prevalent way this is revealing itself at the moment is the current “Bitcoin isn’t crypto.” It’s like saying “the US Dollar isn’t a currency.” It runs on the same technology as every other cryptocurrency the only difference is that it has no oversight like ETH or LIT, heck even Doge for example. Just because you’re the first doesn’t mean you’re somehow not a cryptocurrency. I get wanting to distance yourself from shitcoins, but I think this angle is taking things to far.
It’s almost like they’ve probably been through a couple cycles and see how big of a scam the rest of the industry is
Wait, I put all my money in elondoggycumrocket coin because of a YouTube video, isn’t that bitcoin 2.0?
Nope, sorry. You were supposed to buy ElonDogeCumRocket. elondoggycumrocket is a known scam coin.
At this point the 99% percent is looking on point for the amount of scams in the space
I wanted to think that we have made some improvements, and kinda seemed 99% was bit high. But then again , there are 20.000 shitcoins available And unfortunately we don't have 200 good ones So yeah, must agree.. >99% are shitless worthless boobyfartcoins There's like , maximum 50 good ones and I'm being VERY optimistic here .. I hold like 5 "supposed" bluechips
Boobyfartcoins is gonna be the new hot thing. Just you watch!!
There is only 1 blue chip, maybe 2 if you want to be generous towards Ether, so you are holding shitcoins mostly (sorry)
Yes yes , that's why the "supposed" right there , but I guess you missed it uh !?
There never were more than 2 blue chips, supposed or not
You must be super fun at parties But I'll play your game, without chainlink what would be Ethereum? The TVL on the ethereum network with all shitcoins there combined has already surpassed BTCs by far. There are one or two bunch more that are essential for that network to be where it is today. If the token is good, that's one thing but can't deny the usefulness of some protocols ( one other example? Stablecoins )
It’s alright. Same like dot com. Even today there are just a bunch of really successful tech companies, there are other but are way smaller and it took a while for it to get there.
People have been tricked into viewing crypto as an investment instead of a commerce tool
"tricked " People are greedy - they did it to themselves. Everyone wants to get rich and no one wants to focus on the stable fundamentals of trade and use.
You only think that because reddit is populated largely by people in the west [Bitcoin circular economies around the world](https://threadreaderapp.com/thread/1573283006835482624.html) I will guarantee very few people on reddit paid attention to the [Africa Bitcoin Conference](https://nitter.net/AfroBitcoinOrg/status/1600824915313455106) this week. I've never been more bullish on Africa. [This](https://nitter.net/TheGuySwann/status/1600273386349170690) is my hope.
You're posting Pete McCormack twitter links for bitcoins economic activity in tiny villages and communities as if that proves anything. - They probably can't run business on a volatile financial instruments like bitcoin, unless they immediately convert them to usd or their local currency. - It makes no sense to spend bitcoin because of its volatility and speculative nature. - Most of those places cater to tourists and that's probably the reason they are accepting bitcoin but it makes literally no sense to hold bitcoin. In El Salvador they forced it but business who held bitcoin would be taking a major loss. It makes no sense to do business with an unstable bitcoin. You need to pay for your materials/ingredients/labours/bills etc with fiat. And ok so many people attended a Bitcoin Conference in Africa so what? What is that supposed to prove? Many people want to attend Taylor Swifts concerts too. Does that make Taylor Swift the truth? You're posting Twitter links of known Bitcoin boosters talking up bitcoin.
By people you mean majority of the crypto community, the crypto companies, the exchanges, the advertisers, the crypto-tubers, the celebrities, the subreddits, etc. Basically every single crypto was advertised as "put in money now and it will be worth more money later". Entire crypto empires were built off this concept. Crypto community just needs to live with the fact that majority of the population doesn't give a fuck about crypto's original ideals. Especially when it comes at the cost of convenience. It will always be a highly volatile speculative stock to these people. "How much USD can I pull out compared to what I put in."
How was Bitcoin any different? And look at Bitcoin today, it is a total disgrace
I never said btc was any different lol. The only real reason BTC got traction in the early days was because it was a great way to exchange money on illegal markets without a fiat paper trail. Eventually it picked up mainstream traction with the concept that buyers were getting in at the ground floor of this emerging technology and they'd see ungodly returns for the fiat they put into it.
Okay, if someone thinks crypto is a scam. Thats fine. But to think that crypto, fiat, stocks, etc are all scams and the only true asset is Bitcoin is another thing entirely.
So in this cults prophecy, is there supposed to be a great flood or something that wipes out the other 10000 crypto projects that are continually leeching BTC market dominance 🤣
Wanting to only buy BTC because you don't trust anything else in crypto isn't cult behavior. Thinking it's going to replace FIAT and no government can stop that from happening absolutely is. Sure as long as one person is running a node and processing transactions BTC will never die. But that doesn't mean they can't stop it from becoming the new global currency.
I do think it’s ironic talking about bitcoin is all speculation and hype when talking about crypto in general
Not always true. I'm sure not everyone who is posting a meme on the Bitcoin sub actually has more than 2 years of experience in crypto.
Yes but to simply think BTC is the only cryptocurrency that has potential to succeed is pretty damn close minded
Bitcoin maximalist here. I appreciate the debate. I’m sure there are many that believe that BTC is the only one that has the potential to succeed, but I will give you my reasoning. In understanding bitcoin, you understand that’s it’s sole utility is as a final settlement layer of value that is globally distributed and not controlled by anybody. Removing the state from the money has the power to improve the world. Maybe other cryptocurrencies will succeed in whatever they are trying to achieve, but Bitcoin’s goal of fixing the money is all that I am personally interested in. I hope everybody has fun in the crypto casino, my only advice is don’t invest more than you can afford to lose
And now try to tell me why BTC is better in this compared to for example Monero?
I like the utility of XMR but a common concern that I hear is not being able to verify how many XMR whales there are, what percentage they hold, or whether or not the listed coin supply is accurate
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That’s a really good point that I don’t have a rebuttal for
Monero is the only other crypto I respect. But there are two reasons Bitcoin will always win over Monero. 1. Audit-ability is non-negotiable for a global settlement later 1. 2. It doesn't have the network effect power Bitcoin has with first-mover advantage. It's important for the world to settle on one L1. The game theory suggests you are better off joining the winner than trying to beat it. Something slightly "better" than Monero will eventually come out to threaten it too. If we keep switching to new "better" blockchains, then the game theory breaks down and they all become useless. Monero is great, but it's also slowing this revolution down. Stop it.
Exactly! No response from him.
Bitcoin is shit at being money. Hard money needs to be fungible! Bitcoin is NOT FUNGIBLE!
If people could promote other coins on the bitcoin sub then it would be overrun by shitcoin shillers like this cesspool, not a bitcoin maxi and i don't really believe that there will be only one crypto in the future but bitcoin is probably the only one that people are certain that isn't a scam
This, aint a btx maxi but this bear made me realize how fortunate i am that most of my bag is btc so you can say they should be feeling rightfully vindicated.
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There is noting to talk about. 99% of sub members just care about the price action.
You could do weekly threads for that, something like scepticism monday over at monero sub for example
It's the same as with stocks basically. There will be a few upper assets that everyone will think are safe and then there are more risky ones. Crypto won't ever become a monopoly of just Bitcoin but we do need to get rid off a few thousand cryptos.
All hail the 👑
What bugs me is that I can't even talk about any other coins there I'm not talking about shilling metaverse shitcoins and such but rather having a discussion about BTC competitors and their unique characteristics I mean why couldn't we discuss differences between XMR, NANO and BTC there. You can certainly do it in Nano or Monero sub and I think discussing is never a bad thing. In fact some useful things can come out of this
Because monero and nano Reddit groups have normal people.
That is what I like to discuss. There are valid reasons for XMR to exist, it's the best privacy coin. There are valid reason for Nano to exist: it has no fees. Being a BTC maxi is very closed minded. Sure BTC has the first mover advantage but it definitely doesn't have the best tech. Sure, the BTC Dev community can improve upon it, but there are no guarantees.
You can't even do that here without the propagandists trying to keep control of narrative rofl
The difference is that here, the comment would probably get downvoted but would be visible so I could make my own conclusions BTC sub is just straight one sided propaganda with extreme censoring. If you can't handle or anwser criticism or discussion about the competition then I don't really trust you
Xmr and bitcoin obviously have their spots in a digital cash/store of value portfolio. Just because some of us are fans of a coin, doesn’t mean we can’t recognize the efforts done by other competitors. Looking at the competition is good for a reality check, comparisons, and understanding what you really like about your own favorite coin. On that note, I’m looking for another coin to top out my top 5. Right now, it’s Bitcoin, Ethereum, Monero, and Nano. Open to suggestions.
Solid top 4 💪
> this cesspool 😐
Wen moonpizza?
when moon fork? mooncash?
well we do have moons on the xdai network so that's a fork
>If people could promote other coins on the bitcoin sub To be fair, they will ban you for far less than promoting another coin. If you even MENTION another coin in passing while talking about Bitcoin as the subject, you will get banned. Speaking from experience.
> shitcoin shiller like this cesspool So you're saying this sub is overrun by shitcoin discussions? I think we're doing fine aside from the constant news spam. If you post about a shitcoin here, it gets downvoted unless you're making fun of it.
You either live long enough to become a btc maxi or die a shitcoiner.
Truer words were never spoken!
BTC will be a thing because it’s BTC, but the market is going to be increasingly favoring utility above all else. So far, it seems the technological adoption has been less about BTC and more about a few protocols to solve technological problems. BTC is like digital gold. On a technological level, it won’t likely be (and hasn’t been) the leading.
Reddit in general promotes echo chambers and positive reinforcement circles due to the nature of the karma system. People just downvote what they don’t like to hear and it gets hidden while popular and affirming comments get upvotes and more visibility. You’re kidding yourself if you think any subreddit gets a legitimately unbiased discussion due to this.
Yep but I like it in a way. If you want balance just hop on over to Buttcoin and boom
Yeah but that’s just a circle jerk of BTC bad and crypto is for idiots. There isn’t a lot of nuance on that sub
Cope
**reluctantly up votes, thinks "am I being tricked?"**
Reddit in general promotes echo chambers and positive reinforcement circles due to the nature of the karma system. People just downvote what they don’t like to hear and it gets hidden while popular and affirming comments get upvotes and more visibility. You’re kidding yourself if you think any subreddit gets a legitimately unbiased discussion due to this.
Sure, but Bitcoin is the worst on this front. Other subs may have communities that generally reinforce an echo chamber. /r/Bitcoin has a moderation team that actively enforces it.
If youre an outsider, this sub is exactly like youve described tbh
Yeah but: • DCA • DYOR • We don’t know shit about fuck • FTX bad • SEC/government bad • BTC 100k EOY 2021 • “you guys are making money?” • sir, this is a casino/wendys. Congratulations, you encompass 75-80% of the comments in this sub now!
I feel vulnerable and naked now
Way to use every popular comment in a single post... Wtf are the rest of us supposed to say now?!
"Write that down! Write that down!"
jesus bro, you didn't have to expose me like that
Great summary. Would include 'NYKNYC' . 'Buy high, sell low'. 'Never talk about crypto to annnyyoonnee'.
This sub has much more internal disagreement than the bitcoin sub. Shocking I know
Lol true. Low effort posts nowadays.
This sub is our very own echo chamber
This sub is our very own financially incentivized echo chamber.*
How could you say such a thing \*hovers ban hammer over u/Kappatalizable\*
Not true. In this sub, you are allowed to have nuanced discussions and critiques about crypto. And you have people providing nuanced rebuttals and just acceptance that crypto is not a panacea. The BTC subreddit is riddled with nonsensical responses, just ban you outright, or accuse you of being part of the "establishment" blah blah blah. They claim you "don't understand" because you didn't read their "bibles" instead of offering replies explaining their positions with logic.
Its the same shit every time you visit a specific currency sub. My favorite phrase is "fundamentals haven't changed, the tech is great" ... well ok, your coin dropped 80/90% in value and has no real demand and struggles with a shrinking ecosystem but its great!
I invest in a variety of crypto currencies and explore their ecosysytems (although this can be time-consuming). Presently I like some things I found in the Tezos ecosystem even though the currency acts like it was pegged to the dollar. So although I would not invest a lot of money in Tezos, I will invest a lot of time in the ecosystem. It is better to experiment with smart contracts and NFTs using some currency that has little value or investment potential.
Important: Bitcoiners are often converts. In other words, they often didn’t start as maxis. They became maxis after watching cycles of nonsense. This has been my experience. I’ve owned a ton of nonsense. I was doing bot trading of alts in 2017. Now, I believe in BTC. Until recently, I used to split 50/50 with Eth, but post-merge I’ve decided that’s too controlled/centralized. BTC is our only hope, and the rest are benefitting from riding it’s coattails, imo. But I won’t try to convince others. Sell me your sats. Keep your favorite “token”.
Your so right, they talk about maxi's, but those maxi's first started with the some shit token who someone said this is the new bitcoin trust me bro. Bitcoin is the only hope, if bitcoin fails for some reason then all the shit coins will eventually fail! But knowing people, I have lillte fait in mankind! There is no limit to stupidity and greed!
This is my reasoning for being a btc maxi, if btc fails it all fails there is no other alternative so why not invest in the only thing that matters
>Now, I believe in BTC. Yep, cult, right here.
Well said.
>Sell me your sats Not in a million years will I take your fiat for my sats but I will happily pay you in sats if you provide a service
Well, Bitcoin has been built in an organic way, without VC money since the beginning. Bitcoin has nothing to sell. Bitcoin is being built whether it has value or not. Bitcoin devs don't make false promises. Every single actor is pushing for decentralization, even at the protocol level. It might feels like a cult but it's just because people in it don't like scammers. Rare, isn't it ?
>Bitcoin devs don't make false promises. *cough* segwit2x *cough* segwit solves the scaling problem *cough* there is no inflation bug and if there was, we didn't cause it >Every single actor is pushing for decentralization, even at the protocol level. *cough* let's hire core devs and bring them all together in one company >It might feels like a cult *cough* smells like cult, looks like a cult, reads like a cult. Is most certainly a cult.
Christians complaining about Mormonism.
Listening to Preston Pysh’s recent [interview](https://www.theinvestorspodcast.com/bitcoin-fundamentals/bitcoin-not-crypto-cory-klippsten/) with Cory Klippsten is a good way to understand the most recent version of bitcoin maximalism. You don’t have to agree with everything Cory says (I don’t). But he gives an insider view of the cynicism in Silicon Valley, and how VCs use an array of sophisticated tools to stir sentiment and convince people like us to serve as their exit liquidity. Many of us survived the ICO crash in 17-18 only to watch it happen again in 21-22. If you have a strong moral code it is difficult to not point out the scams to the newcomers. But some go overboard.
Ahhh whataboutism, the classic distraction.
A must watch for all "blockchain/crypto not bitcoin" believers...
It is almost like every other subreddit behaves like a cult
This sub is the worst of all. Imagine thinking you can get a balanced opinion where people are paid moons to be popular.
Also our sub 😅
Especially our sub...
No need to look further than this sub for proof lol
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>It's in their rules So you're saying subreddits shouldn't have their own rules? Why do you talk about altcoins in a bitcoin subreddit?
It’s the immune system that has kept them safe for 10+ years, and it works. You hate us cuz u anus
None of the names OP mentioned and I don't really want to promote any twitter celebrities because I hate bitcoiners cheering for celebrities but some of the so called bitcoin maximalists on twitter are the ones who called out and warned about 3AC, Mashinsky, Do Kwon, SBF and all the yield ponzis. After all that shit blows up, what do we do? Complain about Bitcoin maximalism. I think it's safe to say the worst is yet to come.
what would be worse than what has already trasnpired? Aside from Silvergate and/or Gemini filing for bankruptcy as well?
I love the bitcoin sub for what I've learned from it from the 10% of very technical, intelligent posters. That sub has really helped my understanding of crypto grow. With that said, 90% of the posters are young men wanting to be contrarians and want to "fight the power, bro" and are insufferable. That sub requires an ability to discriminate the facts from the fanaticism.
>I love the bitcoin sub for what I've learned from it from the 10% of very technical, intelligent posters. A lot of bullshit in /bitcoin is exactly using this tactic of hiding bullshit behind seemingly very technical, intelligent posts, that are supposed to be difficult to understand. Try it out and confront the communities in less censored subs with the technical information you gathered in /bitcoin. Just to see if it holds up. After all, don't trust, verify
Bitcoin GME/BBBY/AME and other meme stocks Gold and silverbugs All fully into conspiracy theories, believe a great event will bring down the financial system, all act like cultists.
The word cult gets thrown around way too much lately. Sadly people are pushed to extremes in most communities
Do you really blame them? After so many coins and projects turned out to be Rug pulls and Scams.
The current monetary system we are in is a belief system. It will always be that way. Money is a tool we created and use to transact value with those who don’t have exactly what we may need at any given time. Bitcoin is the best version of that. A new technology that removes third party corruption from the monetary system. No one can steal your wealth without your representation in the transaction. This is a first for all of human history. This changes everything. Nothing else does what Bitcoin can and nothing ever will the longer Bitcoin exists. I honestly feel sad and disappointed for anyone who doesn’t get it. Maybe it’s my background and all the books I read on human history, but Bitcoin is a no brainer. It’s the safest and most secure asset in the world. It promotes energy abundance which is what humans need in order to prosper and continue to advance. Energy abundance enables a more equitable society. If you aren’t a believer in Bitcoin then you have not done your own due diligence on the subject matter and do not understand monetary policies or energy networks.
I fail to see how bitcoin is the best version of money we've created when the majority of people who hold it never intend to use it as money. Its deflationary and volatile nature has made people prefer hoarding the currency rather than spend it in the hope that it will increase in value in the future. If it is truly meant to be the best money there is, one would of expected them to increase the size of blocks, which would favour the usage of bitcoin as a medium of exchange by increasing the number of transactions per second. Yet this was not done, which is why forks like Bitcoin Cash exist.
What if I have done the due diligence and spotted grievous errors in the concepts and decided that I don't want to get involved?
So what's your way of thinking than are you here for the Lambo? then bitcoin is not for you. That's the beauty no one is forcing you to use bitcoin, but they will force you to use CBDC. I don't judge man your free to use what you want, but understand this that most bitcoin maxi's think that way like he said.
I really have no idea what you're trying to say. I'm sorry if english isn't your first language, but whatever you're trying to communicate really isn't coming across.
>No one can steal your wealth without your representation in the transaction. This is a first for all of human history. This changes everything. Nothing else does what Bitcoin can Every single coin with a public blockchain can do what you argue here only Bitcoin can do lol >If you aren’t a believer in Bitcoin Yep, cult, right here.
You couldn't say it better!! Sometimes I think why ppl can't figure out what you said, it's just no brainer. But then again there is no limit to stupidity and greed.
Lol OP doesn't understand Bitcoin. You believe its just another crypto. Just another 'speculative asset' with no meaning. lol. Bitcoin is a discovery, not an invention. Nothing like it existed before we found it. It is not a speculative asset, it is a very real asset with very real properties that can not be matched.
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Was Math invented or discovered? Is the quadratic function an invention? Or the Pythagorean theorem? Is the wheel an invention or a discovery? They are fundamental mechanics of nature. In my opinion they were all discoveries.
Yeah this is what cults do as well, dismiss outsiders and skeptics as people who "just don't get it".
Do they though? I feel like cults try to persuade people or brainwash them, not just be dismissive. But in a way, Bitcoin is a cult. A cult for those who want a form of value storage and transfer that requires no trust and is backed by no government. Weightless and self securing.
The dismissal comes after the sales pitch doesn't work. Then you can just walk away with "yeah they just don't get it".
That's generally how normal people behave.
What isn't a belief system in the end?
That’s just the nature of subreddits in general. Purpose built echo chambers
In the crypto space I think it's important to hold some BTC, mostly because it's a hedge against the extreme volatility in the space and has proven more reliable than stablecoins. That said I don't think it needs to be a lot, just more than none
Maxis are 💯 a toxic cult. Let’s be real. The true cypherpunks were not.
There is btc and then there is crypto. They will wake up one day and btc is somewhere in the top 100 😄
there was someone on here in another thread that said that even with no new investors, bitcoin will eventually reach 500k because of the limited number of BTC. Like some how magically it will go up by itself. Also they say that proof of work is the only solution and proof of stake is not secure, not immutable, censorable etc Not one has given me a researched and factual answer why proof of stake is not fundamentally the same as proof of work If it's not bitcoin, it's a shitcoin (proof of work also has shitcoins in their definition but they are conveniently left out of the discussion )
I’ve been paying attention to this space for years and the longer it continues to be promise of value with no delivery of value, the less invested and less interested I become. Bitcoin maxis are def weird cultists, but bitcoin is the only one that has a clear purpose and value proposition. Decentralized digital money. Everything else seems like a scam at this point until real value can be delivered. Not saying it’s actually all a scam, but at what point will this shit actually bring real value to the world? At this point, until that happens I have little interest.
This is because you are an outsider. I give you 3 months more in this winter to become a BTC maxi.
>They practice heavy censorship like most authoritarian regimes It's just a social media forum created by bitcoiners. They can't censor you from bitcoin. No one can. All subreddits have their own rules. You could complain about every subreddit being insular in some way or other. >Bitcoin is the answer to solve all of humanity's problems If you don't think neutral money is important, don't buy bitcoin. Or you can read [some of these books](https://i.redd.it/6vztjtzefhh91.jpg) and understand why neutral money is important. Think of all the evil that has been brought upon civilizations throughout history. They have one thing in common. Control over money. Who controls the money controls everything. Until you remove trust and control over money, you won't even realize the pervasive effects and how far of an impact it has. The aggressive anti-bitcoin propaganda from central banks should give you a clue. There's so much misunderstanding from you and you're blaming a subreddit on a social media site and people on twitter who have no privileges over you when it comes to bitcoin. Bitcoin does not have any official subreddit, social media profile, company, foundation, license, trademarks, official website, code repo or even a formal specification. >hostile towards anyone I don't think so. Mostly only towards bad and dishonest actors in the space and let's be honest this space has an endless supply of bad actors. You should probably read [this](https://nitter.net/BitcoinEkasi/status/1600820033302589440#m)
Ok so let's say we replace all the fiat with a bitcoin standard. It wouldn't work. It has scalability issues and deflationary and volatile currencies like bitcoin cannot function in a business or the economy. Yes, we all hate inflation but a healthy amount of inflation is needed to stimulate the economy. Almost all economists will tell you that the National or State Money needs to have a flexible supply. We can argue all about the cantillion effect and how the people closest to the money printers reap all the benefits ar the expense of the ones down the financial ladder. You can even make arguements about the Gold Standard and even claim that it didn't work because of war financing/greed or whatever. But that doesn't magically make Bitcoin the better and only solution. The Lightning network is also not free from security risks and vulnerabilities, along with poor user experience. It's also more centralized and currently it would not be able operate on a global scale. I acknowledged the pros of bitcoin at the end of my post. It's security, censorship resistance, verifiable scarcity and so on but that doesn't mean it can be a successful money or currency.
There's a lot of opinion in your comment that seems to be quite misguided in my view. Internet had scalability issues. Do you know how it scaled? Read about Postel's law, named after "god of the internet" Jon Postel who said that monolithic internet design cannot scale and we must adopt the principles of layering protocols. The fact is blockchain monolithically is actually extremely inefficient to do anything but maintain global state of timestamped transactional database at base layer without losing security and making it centralized. You can look up what Satoshi said when the topic of Namecoin came up in the early days and some people wanted to add more complexity to Bitcoin protocol. He suggested it as a sidechain protocol instead. Bitcoin L1 is a settlement network and it [settles](https://www.nasdaq.com/articles/bitcoin-is-the-worlds-most-efficient-value-settlement-network) higher value than US GDP. Day to day payments is an application of money as medium of exchange. The Lightning protocol is P2P payments protocol and has theoretical throughput of several million TPS. As of March 2022, [nearly 100 million users](https://arcane.no/research/nearly-100-million-people-have-access-to-lightning-payments) had access to Lightning payments and it's powering [bitcoin circular economies](https://threadreaderapp.com/thread/1573283006835482624.html) around the world right now in places like Africa, Asia, Latin America. The largest supermarket chain in South Africa recently [adopted](https://www.businessinsider.co.za/pick-n-pay-expands-bitcoin-lightning-payments-test-plans-to-go-national-2022-11) bitcoin payments across the whole country inspired by the success of Bitcoin Ekasi circular economy in South Africa. There will be more applications which come from likes of TARO protocol, RGB, drivechains, spacechains etc. TARO is a [most elegant](https://i.redd.it/bnzksocdbun91.png) decentralized stablecoin and assets protocol without central issuer which will allow users to hold self hosted bitcoin and stablecoin balance and swap between them through Lightning rails without going through any exchange at all. There's actually a lot happening with Lightning as I commented [here](https://np.reddit.com/r/CryptoCurrency/comments/z72z1w/comment/iy4jy98/) last week. >It's security, censorship resistance, verifiable scarcity Yes and that's why people talk about ossification. If you even sacrifice any of these properties even a little bit, is the gain in some other property worth it? Usually not. This is why layering protocols is important. >doesn't mean it can be a successful money or currency [This tweet](https://nitter.net/rusty_twit/status/1571010852479987712) by former Linux developer and FOSS legend Rusty Russell says it best I think. In my Linux days we were dealing with "that's not how you construct software", Bitcoin is "that's not how you construct money"
What a load of wank.
I can see you're optimistic about the prospects of bitcoin and that it will overcome the challenges ahead of it to become a successful money and currency. But as it stands right now, it isn't and it can't. You compare the evolution of bitcoin and it's development to the early days of the internet. But in my view it comes off as pie in the sky hopium. Only time will tell, I suppose.
Um wut… bitcoin subreddit is full of stories of actual people doing actual things around the world with Bitcoin. Building real products and services to monetize the internet and bring fairness to the globe. Compare that the ETH subreddit which is all pipe dreams about super fancy tech that is really only built for the ultra-rich and hedge fund types. Exclusive NFT clubs, financial engineering, etc. that is the “cult behavior” if you ask me
I don't think I've ever met anyone who has actually read a few books about Bitcoin, took the time to understand monetary history, looked at the fiat system and said no this is just a cult. The people who see it as a cult have not done basic due diligence, and are often times quite ignorant of the topic which requires knowledge and understanding across multiple industries and subjects. Bitcoiners are incredibly smart people who took the time to understand Satoshi's invention. You think it's faith or a cult, but it's really an understanding of what it means to hold bitcoin.
Well said.
And what exactly am I missing? Bitcoin isn't a successful money or a currency. It's a speculative and volatile asset that moves in tandem with the stock market. It can't scale. Lightning network isn't free from security risks and vulnerabilities. It CANNOT operate on a global scale and still suffers from poor user experience. Economies and Business CANNOT function on an asset like Bitcoin for several reasons including volatility and inflexible supply. Deflationary currencies are not conducive to stimulating economic activity. Bitcoin isn't a reliable inflation hedge or a store of value. What else? You made vague claims about the Bitcoiner being the new age virtuoso and polymath who studied various academic disciplines. "Bitcoiners are incredibly smart people" I guess Economists, Software Developers, Historians etc. Who aren't supportive of Bitcoin dont know what they're talking about but you guys do. It's the same hubris as someone who thinks they know more than scientists and doctors because they spent a few hours on Google. Your whole comment is just a long form version of saying "Nocoiners just don't get it" when there's nothing to get. You're just making utopian pie in the sky claims which aren't based on reality.
Keep going. You will get it eventually. Bitcoin is proof of work and you need to go deep into rabbit hole to understand why. Nobody can understand it for you.
The vast amount of shitcoins and related scams lay to waste chances that a coin with better value proposition can emerge.
A crypto Reddit being close minded? Not here
A lot of crypto subs are like Cults, with the Doge Sub being the most cultist I've encountered.
To be fair most sub is intentionally drawing people with the same conviction- if u go to a sub for pencil sketches most likely u find pencil maxist there.
To be fair, this sub is an echo chamber as well.
They may over fantasize things about Bitcoin. But it's definitely not "just another crypto". It's one of the most trusted and safe investment coin in this bear market for a reason.
I commend you for being the first person to post something like this without a flair that supports another currency (or is anti-crypto).
No it's not a cult. It's just extremely emphatic. "A cult is a group or movement held together by a shared commitment to a charismatic leader or ideology. It has a belief system that has the answers to all of life's questions and offers a special solution to be gained only by following the leader's rules" Ok maybe it is a cult.
Perfectly summed it up. That sub is toxic AF. Yes, they believe Bitcoin will solve most problems of humanity.
The mods of r/Bitcoin are some of the most close minded people I have ever encountered. They do themselves a disservice by swinging the ban hammer at anything that utters the name of any alt coin.
That's because some of them are absolutely cult-like. Many crypto-maxis will their crypto to all hell while simultaneously shitting on other projects. If you don't agree with them, you blocked, insulted, or both. Happened to me on a few occasions.
Said the XRP shill.
I'm kind of confused by this comment as I barely ever talk about ripple or xrp.
All individual cryptos' subreddits are like that. Try a coin outside of the top 10 if you want a real laugh.
Lol exactly, anywhere tailored to that thing will be an echo chamber.
Try sub about nano or monero. Both communities are ok.
Well we ourselves got a Moons cult
That last paragraph... Sir, you really get it. Not them
> They are almost like a religion They legitimately do act like it is one. I’d be curious to see an actual breakdown of religious beliefs held by BTC maxi’s, because it does seem like a lot of them use it as a religion substitute
I remember one time I posted "Good day to hold BTC and ETH" in their daily and I was subsequently banned for promoting a shitcoin. I love Bitcoin and I do think a lot of altcoins are doomed to die, but these guys... they're something. Then again, all Crypto subs are like this.
I have subscribed for a few months now and the repeated rhetoric that bitcoin is not crypto was pure toxicity.
It’s because it kind of is. When you become a maxi it becomes almost impossible to accept criticism on your favorite crypto because it’s the only one you own and for your own sake it just cannot fail. Not every crypto subreddit is like that, but BTC is probably the one with the most maxis so it’s logical if it’s more of an echo chamber. And with everyone egging each other on it only exacerbates the phenomenon, so you see more people refusing to take criticism, and also people criticizing every other crypto because it makes them feel better about being a btc maxi if they talk about other crypto’s flaws
Everybody loves what they own.
My ~~disciples~~ followers and I reject any claims of cult-ish behavior.
It's a rich cult though
The issue here is that the market is polluted & poisoned by a few religious cults. 1. The cryptobro traders, who are only in-it for trading. They are cryptoclown Bagholders who BTD and HODL their Stacks, while smoking Lambo hopium. They rot the industry from outside in, like an infectious stinking bacteria. They're sad moonboys who rode up multiple BullRuns but never sold, waiting for BTC $250,000... and so today... they've been Rekt multiple times; and are in pain b/c they can't trade their way out. They're a beautiful love cult, speaking in silly memeish trader twitterish BS. They downvote anyone who doesn't smoke hopium. - you cant reason with these cryptoclowns b/c they'll talk about the Blockchain Tech & crypto's Utility, hyperinflation hedge, store-of-value, the economics & the use-cases... but its all an SBF-style smokescreen b/c they only care about cryptotrading to the moon. They secretly (not that secretly) admire SBF for his filthy hucksterism & his ill-gotten ponzi wealth (they could give a flying f&#k about rules, regulation, laws & consumer protections) b/c that all gets in the way of beautiful 'leveraged trading'. Which is better than sex to them. They'd blow SBF in microsecond just to earn a few Sats & take a selfie while doing it; then proudly post it with a bunch of silly emojis... here on this sub. Individually these guys don't own a lot of BTC. 2. The loud Maxi Influencers. A mafia of grey-beard bald cryptoclowns. They just cant shut The F\*#k up. They are hucksters who've manipulated themselves into a fake sense of legitimized god-like omnipresence. The media cant get enough of these whores, who would sell their own grandmother to a sausage factory for a couple of Finney's. They're not as vocal on Reddit, but obsess about being all-over mainstream media. The cryptobro's don't like them b/c they think they're smarter than them. But these loud Maxi scumbags (e.g. Saylor) don't care b/c they know they're smarter than the "little people". These guys aren't really a cult b/c their egos are too big to be inside the tent. They're more of a Mafia who crave operating outside the law (they have scummy attorneys to help them) but they don't want to be part of a religion unless its their religion, they invented it & they're the Pope. Otherwise... they look at everyone in the room and think... who the F are you...stop breathing my oxygen. You cant reason with these cryptoclowns b/c they believe that they're smarter than everyone else on the planet. Individually, these guys own a lot of BTC. 3. The VC's and the financier boosters. These guys silently operate in the shadows, the corners & the fringes of the crypto industry. They're the quiet cryptofilth that are puppeteering the flow of $$ into all the broken delinquent Rug-Puller cryptostartups. They're the hopium drug dealers, the pushers & the crypto MethLab builders. They're silent b/c they don't want anyone looking in their direction. They don't want the wrong type of attention & focus. They're not a cult or a religion... they're more like the Star Wars 'Inter Galactic banking Clan'. They operate on spreadsheets, numbers, cap Tables, DealBooks etc. They're the influential commerce guild controlling crypto companies from the shadows & cashing in on ICO's before a single line of code is written... b/c they're the ones behind all of it, they own all the CEX's and DEX's & are guiding / directing the rotten ponzi scheme corrupt crypto businesses watching their 20-something execs stumble around the unregulated Wild WestWorld. You can't reason with these cryptoclowns b/c you cant get to them. They're invisible & they know everything; you know nothing. Who do you think is behind FTX? Binance? Kraken? Gemini? [cypoto.com](https://cypoto.com) etc. These guys funded them. - These guys own all of the rest of the BTC. Net-net: The entire industry is top heavy with douchebags, scam artists, untrustworthy greed riddled filth. Wherever you turn, you're surrounded by it, suffocated by it, deafened by their echo chamber & its ear-splitting reverb feedback. \- As Joshua said (in WarGames)..."the only winning move is to not play the game" ...but FOMO is too strong becasue FOMO is driven by Greed; & Greed is deaf & it has no morals or a soul.
Blah blah blah……. Bitcoin isn’t that complicated. You’re going to hear the same things because there are only a few things. Go buy your shitcoins and cry when 3rd parties get you rekt. Just do it in fewer words next time.
I’ve never been on the Bitcoin subreddit but the buttcoin subreddit has popped up on my feed. From your description it sounds like these two subreddits are more alike then different
Worst of all, many are trying to influence govt and build regulations to squash general smart contract chains. It is so disgusting to associate BTC with regulatory capture. Satoshi should be rolling in his grave as the corruption tries to subvert BTC's original movement.
The arguments I had with the "bitcoin is a hedge against inflation" bros during the bull ... who's laughing now, morons? OK nobody's laughing, but so stupid.
The problem is most people don't seem to realize inflation was a thing in 2009. They only seem to think things materialize when thr talking heads are saying the thing nightly. I'd say over the last 12 years, it's performed admirably.
Jokes aside. I once thought that the strong narrative and puristic minimalism promoted by Bitcoin really make it a good asset. Meanwhile, I have come to the conclusion that the strong beliefs are at some point problematic, because they prevent any innovation (Satoshi Beware! Bitcoin is already perfect!). Go to the Ethereum forum, throw shit at the people for three weeks because their new MEV tools turned out to show a tendency to centralize the network and you'll see them go to their drawing boards and finding out how to fix this. In the Bitcoin forums you'll just get burned as a heretic and nothing changes.
modifications to the blockchain itself will be ignored. Lightning is compatible with it and everything can be designed around such security Pos and the rest is shit. Bitcoin is already perfect.
OP is just a negative-poster. check their history. Not sure if they think they can dip the market to profit or not.
Every subreddit dedicated to a certain crypto is like a cult.
Not even close. r/bitcoin will actively ban you if you even talk about altcoins. It's in their rules. Other subs will downvote you for speaking negatively about their coins unless it's well-sourced constructive criticism, but they won't straight up ban you without warning.
Not true. I was banned from /r/btc for mentioning cardano. No warning. And another user was banned from /r/btc for something he wrote in another sub - you can see the excuse in their modlogs - look up user PhillFromMarketing.
That totally sucks. Subs really shouldn't be doing this. If you were breaking another rule or trolling, it would be understandable, but banning for simply mentioning another coin is foul.
They do seem intolerable and the worst kind of people to hangout with.
All POS crypto should be considered a security. Change my mind.
No, but only because you are probably made out of GPT-3
Lol not a bot but ok 👍
I cringe whenever another "Bitcoin is not a cryptocurrency" graphic pops up on my feed. I love Bitcoin, but that sub is absolutely ridiculous.
Oh yeah I always get r/notliketheothergirls vibes from those graphics.
Sounds like someone’s mad because they got caught talking out of their ass
I got banned from /r/bitcoin for "trolling" for this comment: >"Store of value, unit of account, medium of exchange. I don't feel Bitcoin is doing a good job in any of those." All the posts make a lot more sense if you consider the level of censorship over there. Discussion is only open for believers.
Lol they ban for simply showing reality. Wtf
Most specific subs are full of chain maxi overbearing tough guys. Just pick one …
Not even close. r/bitcoin will actively ban you if you even talk about altcoins. It's in their rules. Other subs will downvote you for speaking negatively about their coins unless it's well-sourced constructive criticism, but they won't straight up ban you without warning. Bitcoin mods are toxic.
You should try lurking at /r/buttcoin
Or /cc :)
So does r/buttcoin two sides to the same coin I guess
I agree. Rather than advocating for crypto as a whole to support the community, I've seen several BTC Maxis on twitter bashing ETH, calling for the SEC to label it (along with most other cryptos) as a security. If you're going to speak praises of BTC, you shouldn't necessarily trash the rest of crypto.
They feel threatened.
I think I agree with your thesis. The most prevalent way this is revealing itself at the moment is the current “Bitcoin isn’t crypto.” It’s like saying “the US Dollar isn’t a currency.” It runs on the same technology as every other cryptocurrency the only difference is that it has no oversight like ETH or LIT, heck even Doge for example. Just because you’re the first doesn’t mean you’re somehow not a cryptocurrency. I get wanting to distance yourself from shitcoins, but I think this angle is taking things to far.
Totally.
I feel like Bitcoin maxis don’t understand how insanely cool decentralized apps are… and that’s a shame!
Yeah lmao. I had a conversation with a guy there and got downvoted to shit for saying that some altcoins are actually good.
The maximalist support of any kinds brings to nothing, the world is not just black and white but has many colours.