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Posted byModerator - Bitcoin is Freedom17 days ago
Stickied post

Mods here shouldn't have to make posts like this but there are times when the attacks are heightened that we feel we need to make a post and warn the casual reader here. Most regulars already know this, but for those who don't, please note:

Since this sub was rebooted after the 2015 purge of /r/bitcoin and massive censorship in that sub to stop anyone from discussing opinions that the mods didn't agree with, this sub has been targeted by bad actors. They attack us because we are a free speech sub. We hold true to Satoshi's vision of Bitcoin, a censorship resistent global p2p decentralized electronic cash system.

The attacks here have come in many forms. From comment manipulation, hacks, malware, scams, vote cheating, Sybil attacks, abuse, spam/floods, brigading (hate mobs), hiring trolls to disrupt, misinformation, and more. Here are just a few examples, in the order I found them.

Over the past three years there have been many more examples. This is is just what I found when searching for ~10 minutes. I'm sure I missed some but you get the idea. This sub is always under attack in different ways. So thinking critically means not taking anything on surface value, but using different resources to evaluate each claim independently for yourself: DYOR (Do Your Own Research).

In this sub mods do our best to foster free speech, not censor, and at the same time have a community that is welcoming. At times this can be tough and often is a balancing act, but we try to apply any moderation we do have fairly across the board. Remember, we are human and not perfect and make mistakes. If something doesn't sit right with you, let us know through mod mail or a public post to the sub.

We don't have many sub rules, but the ones we do have we do enforce, which are listed in the sidebar for anyone to read. We also have public moderator logs, which anyone can view and see for themselves what the mods here are doing, as opposed to other subs that don't have public mod logs and then try to come here and point their finger at us as if we're the censors. To them, I say open your modlogs or don't come here making accusations until you do.

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For a year now I've been hearing the same argument repeated over and over: BTC is the real Bitcoin and BCH isn't, because previous/historical versions of Bitcoin Core sync to the BTC chain.

Alas, this means that if BTC implements a hardfork to fix their inflation/crashbug, then the previous versions will no longer sync to the BTC chain, and by its own argument, BTC will no longer be "Bitcoin."

They must address with soft-fork, or lose any claim to being "the real Bitcoin."

Also, we should point out that for years we have been told "the code is the spec." Therefore, the "inflation/crashbug" isn't a bug at all -- it's the SPEC.

#nobugfix

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The Chinese are still hungry for bitcoin. Will they break the bank all over again?

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Posted byRoger Ver - Bitcoin Entrepreneur - Bitcoin.com15 hours ago
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Posted byRedditor for less than 60 days1 hour ago

Has anyone else noticed the large number of people in the threads discussing Bitcoin Core CVE-2018-17144 that are trying to massively downplay the severity of this security vulnerability?

This is a vulnerability that has existed in the Bitcoin Core codebase for years and either had or still has the potential to cause:

  • crashing nodes
  • payment reversals after multiple confirmations
  • emergency miner and developer responses
  • defrauding of Lightning Network users
  • chain forks
  • lost profit to miners. Note: the small miners would likely be worse impacted due to the likelihood that they have smaller profit margins. This could have increased miner centralization.
  • the possibility of having to shut the entire BTC network down.
  • a market price crash.
  • long term reduced faith in the BTC chain
  • cascading affects on to other crypto currencies that share or forked the vulnerable Bitcoin Core code base.

If someone is aware of these listed things and they are trying to claim or imply this vulnerability is not severe, then in all likelihood they are snakes: deceptive manipulators whispering false or misleading narratives into people's ears in order to further an ulterior agenda. In this case, the ulterior agenda just might be, to maintain the illusion that the Bitcoin Core project is populated by the most wise and the most infallible men and that these men should be the sole bastions and stewards of Bitcoin.

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Posted byRedditor for less than 60 days17 hours ago

All markets eventually correct itself. It is a matter of time that Bitcoin comes down to the real value which is commerce, not investment asset.

Is the current Bitcoin Core more useful than 2015? No, it actually went backward.

Is Bitcoin cash now more useful than 2017? Absolutely yes.

This is what people need to focus on.

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Anybody remember this from about a year ago discussing FreeSociety an idea to purchase sovereignty from an existing nation.

/u/olivierjanss , any updates?

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BTC used to have 90%+ market dominance for a long time. And if scaling wasn’t blocked it was easy to see how it could have simply taken over everything and become the one and only chain.

I have heard things like the innovation is not blockchain, but bitcoin itself and that for crypto to work at scale, there can only be one. I’m an absolute noob in this world so I’m wondering if people could share (in layman’s terms) how they see BCH potentially becoming the one and only chain?

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Posted byRedditor for less than 60 days3 hours ago

We've heard this story before. Imagine you can't transfer money in or out of your country, what do you do? But the kicker comes from Saifedan Ammous, roundly-ridiculed BTC maximalist:

As such, Saifdean Ammous, the Palestinian-born author of "The Bitcoin Standard," is skeptical about any claims that the cryptocurrency currently offers a solution to his homeland's economic straits.

"If the people who want to do the transaction don't both have balances in bitcoin then you're just adding extra layers of conversion from their home currency to bitcoin and back to the home currency," said Ammous, who is a professor of economics at the Lebanese American University. "That's never going to be a sustainable solution."

Is it just me, or is this guy a moron? Of course a broker will have both cash and coin, making money on a spread like every other broker! Obviously converting to and from Bitcoin must be easier than dealing with the banks, otherwise no one would be doing it.

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Source: https://news.ycombinator.com/item?id=18034514

(yes, I know that my "evidence" is merely someone making a claim on the internet without proving anything. I am making this post so that other people that are smarter than me can investigate the situation. Please post any evidence you find! )

There has been a lot of talk about how the recent bug only crashes the network, because of an assert check that was added in Bitcoin Core .16 .

But it appears as if there might be a workaround for the assert check that causes the crash, using multiple inputs.

If this claim is true, then the bug would instead NOT cause the node to crash, but would allow for infinite inflation. Talk about an extremely detrimental bug!

Does anyone have more context on this? I was trying to get the most up to date information on the bug.

Edit: removing the word "doomsday" as that's apparently triggering people.

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Posted byRedditor for less than 60 days11 hours ago

I predict BTC will have less than 25% crypto market share in the coming 2~ years.

And don't let this confuse anyone if the price of BTC goes up again (it most likely will go up again), because other coins will go up way more in relation to BTC.

It's all about percentages. In the coming years BTC's growth will not be the best we see, because its utility is not the best we have. The rest of the crypto market will continue to gradually erode its value until BTC has but a small percentage of the total crypto market.

BTC may currently have 53% market share, but this is but an ebb in the tide of an otherwise downward spiral of the overall crypto marketshare.

This is evidenced by the fact that BTC a few years ago was closer to 100% market share.

There is growth happening in the crypto space, but it's not happening in BTC so much as its happening in other cryptos.

Invest accordingly.

 

inspired by this post.

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