Oddbean new post about login | logout I know we think degens will run out of money to pay miners But I see whales with 5000+ BTC participating in the shitcoins
THEY WILL NOT RUN OUT OF MONEY BECAUSE THEY PROFIT OF THE SPAM. THEY ARE BACKED BY THE CHINESE COMMUNIST PARTY I DO NOT KNOW HOW MANY TIMES I HAVE TO SHOUT THIS FROM THE ROOF
What is the incentive of CCP in doing that and not just mine for free with the equipment they confiscated in those years and stake btc like they are doing with gold? Is profit for spam a bigger incentive with more probabilities of having more Btc in the future, than just mining and stacking (always considered they can have energy for free basically)?
They are clogging the timechain, make it unusable and prevent capital flight. They are getting rugged by Yellen of their Gold right now and have strong incentives to close every other loophole as they try to push their own digital money on the world. There is extensive investigative research done that exposes the deep connections between some ordinalors, bcashers and the ccp which finances them, I see if I can find it for you then see for yourself
Thanks a lot, first time I read about this possible connection, and yeah you made me interested about it, will try to dig more in it. Thanks for explaining it and yeah will appreciate some sources if you already have 🤙🏼🫂 pv
First, I hate to say it but get an overview on x on the botfarms engaging in fud under every high transaction fee post from today. They are out in full force here is an example (25 follower account) https://image.nostr.build/422b240c2c6dd9d72185728c68a9a6fe4481bdfcf9f0d3629ea2ed012a8adece.jpg Bcashers cynically celebrating under every post and .mETh heads coping aswell. I hope I can find the articles I mentioned earlier but I have to unmute a list of words first lol
It's fine Man, save yourself from that, hold on to that mute list as your last sats 😂🤣 Fortunately I am out of X, deleted the app, detoxing from it 😁🤙🏼💜🫂
CCP buying infra for devloping world that loves USDt.
How is Yellen rugging them currently? Is that related more to the US debt that they own? China has been buying up physical gold for years now, to back themselves and I assume BRICS.
If fiat is constantly falling in value vs Bitcoin, and this usecase is not economically sound, they will necessarily run out of money.
The "donations" go directly back to them through some big miners, they play the arbitrage of dumb gullible money
This is what they are going for. From this they craft narratives for more fud, it's an attack in the most disingenious way possible. They know exactly what they are doing and laughing their ass'es off. https://image.nostr.build/560937a6daed0f4d2dd0c46a835133e4a8a9817f2324234822d7600c79a93cf0.jpg https://image.nostr.build/5ecc385010cd43596cbacd5fac94067567feb4a6056b0aecd622b986d2d2cc24.jpg https://image.nostr.build/d4e8c48116a1d2b7adc8a811ed03990179891fb7ba10ac133c7802807fa16b6e.jpg https://image.nostr.build/dbd0d4468268ad5830f1df0bd190e160d5a0ed8f602b001d6d99d6f65b72b043.jpg
Is it an economical use of hard money? If the answer is no, then it can't survive in perpetuity. In a truly free market based on hard money, only economically sound activity survives long term. They are attacking themselves.
Of course you are right, this does not change the fact that rare sats DO NOT EXIST. It's all based on lies from bottom to the top, essentially like communism. It's the same metaphysical concept where everyone has to lie and gaslight each other at all times to keep the scheme running. Otherwise it would collapse. It's a nightmare for privacy aswell, but be vary that your proposed theory is valid on a soundmoney standard only which we are not on.
I'm not disagreeing that it's a scam or dumb. I'm just saying it doesn't scare me or concern me. Bitcoin is much more resilient than some degenerate behavior. Hard money fixes this. This behavior would only be a threat if bitcoin wasn't hard money.
It does not scare or concern me either, I'm just absolutely disgusted by it. Imagine all that time spent on education of austrian economics instead
PROOF??
WE do not think that. Only retards think that. People like to gamble, that won‘t stop. Casinos are working much better than many other industries. They will work in the future when many ideals have long died.
just buying them to burn them
That is the point. Moreover, they shill shitcoin-ing NFTs and that kind of stuff, which has an highly profitable secondary market. Secondary markets of shitcoins are not priced-in in the Bitcoin protocol nor the Bitcoin protocol is built for defending itself from economical incentives that are *outside* of the protocol.
Yes, it won't go away and fees won't fix it (if it is an attack and not just gambling). It is a cheap attack vector as degen shitcoin traders help sustain and hide the attack. What if they clog up mempool and make it unusable for months? What if miners get dependent on high fees and become bitches of those who control degen gambling and nft hypes? What if bitcoin is indistinguishable from shitcoins, it can be taken over more easily. nostr:nevent1qqswmrfr6gjaj9p5kjrcxep00gd58g0fjzttmwj87u7qlckef7vta7cpzpmhxue69uhkummnw3ezumt0d5hsyg8zenmu7gzq8ulj5jj4kv50ph3muwz43f747vmr9ld2alrjdswgavpsgqqqqqqslkwtvd
someone has to hold the bags when the dumping begins.
A new industry is be built, and it's funded by #Bitcoin
What do you propose Tony?
Driving engagement to mutiny wallet. There's no proposals just crying.
That was my hunch but I’m willing to hear out any ideas or arguments made
