many wallets can change the peg.... YOU need to realise that, much like stable coins and luna have learned the hard way this year.. yep the peg is a risk to your network

many wallets can create msat balance without a funding lock... YOU need to realise that other tokens that just print money from nothing..yep its a risk to your network

and there is no network blockchain of rules. nor a consensus to stop that

yet bitcoin has a relay network that checks that a payment is using locked funds(utxo)
yet bitcoin has a relay network that checks that a payment is using proper value amounts in and out
yet bitcoin can account for every unit in existance right back to its coinbase reward creation

but hey if you want to treat all crypto as bad apart from your favoured network.. you go play in your dreams
....
my view is crypto is a multi economical industry with thousands of currencies and all of different types. where native blockchains owned by no party are superior than ICO premined blockchains
where native blockchains owned by no party are superior than sub networks that have no blockchains

where each blockchain based currency has its own ranking. as do the subnetworks of non blockchain stupidity

in Tulsa king series 1 episode 7 - 28:48

sylvester stallone said "do you buy bitcoin?"
martin starr(fame of tvshow: silicon valley) replied "no i steal from other people who buy bitcoin"

says the LN defence brigade
.. dang i need to store your quote for prosperity as a reminder of each time you defend the sub are network of weak pegs, fractional reserve features and a unit of account thats not even the same as that its suppose to represent and it does not even have a blockchain or network wide security to protect said iou value

so where was your cynic hat when it came to LN

cypherpunks were interested in digital money far before milton
cypherpunks inspiration was as early as david chaum in the 1980s

satoshi got inspired by the cypherpunks (whom were david chaum inspired)
as well as others who he cited in his white paper

exactly
the money print of 2020 was not a large push out to the citizens to trickle up. the amount that went to citizens in the covid cheques was small in comparison to the money print hidden away in darkpools of institutions. however in 2022 this started to "trickle down" meaning too much money in citizens hands and so businesses raise their prices to "trickle up" that money again. and thats the inflation part
and now that people have less money but prices are high we are now in recession era

oh leg-end. .. im noticing how much you misunderstand about many things,
not just crypto value and utility. but also geo-politics.

ill start with geo-politics
china's issues is not about what you heard on fox news and then re-sung by some youtube video guy.

they have power. they actually are very efficient in their power production and end consumer utility..
its actually americans that waste more energy per person than china
heck even looking at the gas-guzzling cars in america compared to the UK. america waste alot of fuel

as for the mistreatment of the uyghurs, where the guy in the video mentions how china is being left out of international trade deals due to about 1m uyghurs detained and retrained..
of a chinese population of 1.4b vs 1m detainees 0.07%
america has 330m and 1m mexicans detained and retrained.. 0.3%

america have a bigger problem of people in jail/prison/detained immigrants/minorities

but lets return to the crypto stuff involving china
what china found is many people were residential mining(hobby mining) over running the neighbourhoods circuit breakers and causing localised brownouts due to stealing electric and tripping the neighbourhoods circuit breakers

also there were lots of unregistered and unregulated businesses. it became too much to handle/police.. so they had to shut it down. even the ones operating legitimately

the idea years ago was to prohibit bitcoin and then licence it through regulations. but they didnt see a easy path to police the malicious hobby miners

its the same as cannabis growers. people growing in their basements was a "war on drugs" that lasted decades

.. as for the other conspiracy that china is a dead country with dying population dying economy
thats just more BS you would expect to hear from fox news

if you actually bother to travel to countries you want to discuss you will see a different picture
you will see the "belt and road" which is forming new trade passages, things the EU would never dare invest in due to EU not affording such projects of such magnitude

but to try to say china is dead, based on stupid misunderstandings of GDP. is the same stupid misunderstanding of people trying to value crypto based on the nonsense number of "market cap"
GDP has become a nonsense number of meaningless relevance

---

not all miners mine for the same costs.
the value line is not "all miners" nor "average" its the BOTTOM cost. the most efficient miners.

the rest of them have higher costs.
EG hobby miners in hawaii have a $90k/btc cost to mine. so do you know what they do..
.. they dont mine right now and instead buy bitcoin direct.
why?.. well obviously its a 6x cheaper offer to just buy bitcoin than mine it.

if some idiot miners decided to continue mining at a loss.. that is on them.

also the recent news of a mining business going bankrupt was because they were doing scammy "cloud mining" but no one wanted to pay for the "contracts" due to the ask price being stupidly higher than market rate. they deserved to die


its this reason why for the last year the average hashrate has stayed around the 230 average hashrate(temp peaking to 310 and temp dipping to 160)

what you find is the most efficient mining is on the increase, and the less efficent mining is on the decrease
but its why there is no mass of hobby miners bringing the hashrate up to 350exa hash at a sustainable level which would have been the case if the price was higher because the hobby miners play to the whims of the market and jump off mining to become bitcoin market buyers.

but the efficient miners have been sustaining a level..
which if you look at the BOTTOMS of 2020-2022 prices
you will see we are at a higher bottom than 2020
and youll see a higher bottom of mining too in 2022 compared to 2020

which shows that increase of hashrate has caused an increase to the bottom

the rest of the speculative market ontop is just that speculations of different peoples viewpoints of their own individual decisions on when they want to buy.


your biggest mistake seems to be to the the 2021 ATH was a "sustained value" point where the price correction after was not a return to value(in your eyes) but a destruction of value.
you are wrong the value line of 2020 was about $3k and value in 2022 is ~$15k

again the speculative market above value is then the volatile premium of speculating based on random sentiment

"golden" age of fraud

hmm he is about 300 years out of date with that title
he forgets the fiat age of fraud last 100 years
and now the digital age of fraud

yes frauds happen. but thats at the business level of business owners scamming people into their business schemes

the underlying asset has no brain or arm or leg or mouth to scam people.
bitcoin does not set up a business.

there is a massive difference between bitcoin, the real intrinsic value asset. vs FTT a company created token

its as if he is trying to say, and compare all company shares are ponzi because maddoff sold shares in a ponzi business, thus shares are ponzi

yes bitcoin is an asset/security
yes bitcoin can be transacted/ownership transfered thus it is a currency. however he does not understand that many things are a currency. he mixes up "common money" descriptor vs currency descriptor

yes bitcoin is not main stream common money.
but it does not mean that its a ponzi and does not mean its not a currency

bitcoin has utility function and underlying costs.
its not stored in some business where investors of old are paid interest via investors of new. where there is no other function/utility bar "robbing peter to pay paul"(ponzi)
showing he does not even understand how ponzi's work

bitcoin as a economic currency system is a simple ownership swap. much the same as shares and commodities and assets.
the price:cost of the swap has different markets and methods of acquisition and transfer. where some businesses do so at a premium or sometimes in 1% of cases maliciously steal from customers of their business

he has failed to recognise the difference between a business failure vs bitcoins success.

learn some code and data structures
there are no decimals in code/data. its all smallest unit of sats
btc and decimals exist as human visual aids. not as base code/data of bitcoin function

to break the smallest unit into 1000x sub units. breaks the whole accounting system of bitcoin.
it would break many rules of supply, require changing how many halvenings occur, changing how many shareable units will ever be created.. a huge mess and tragedy to the supposed claims of certain rules that should not be touched

i can be the biggest cynic of peoples motives but i feel this topic is someone genuinely just describing how bitcoin has made positives on their life without any malice or harm on others.

id say for those that have seen benefit of bitcoin where no harm or foul was needed to achieve it. spread that knowledge to others. help others prosper

WBTC is erc-20 a special token of ethereum.
there are 2 ways to get back to btc.
first is a CEX swap token:coin
which is a deposit - trade - withdrawal 3 step process

second requires converting it to a native ethereum and then using a CEX to then convert from ethereum to dollar or btc on a cex market
thus its a 5 step process
wbtc - erc20 - eth deposit- trade- btc withdrawal

yes wbtc team can decide not to allow conversions to native ethereum
yes ethereum team can change its code to lock up erc-20 as erc-20 and not convertible to native ethereum
yes CEX can delist ethereum, wbtc

bitcoin has features and utility. and so people want bitcoin.
how they get it depends on their costs.
some miners can mine coin below the market rate. some not so much so they just buy it.

bitcoin is not tangible(physical in hand) as a currency but its method of creation is tangible. (dropping an asic on your head will hurt you)
spotify is not tangible(digital audio) but a server farm creating the audio is real. if a server rack falls on you, you'll feel it, as you would if you tried to walk up to an song artist and tell them they are fake. (enjoy the slap/punch)

bitcoin has intrinsic value. there is underlying cost in its creation and then as people acquire and pass on coins new buyers acquire at the sell rate too

there are 2 different markets and people dont realise that the public spot market of speculation is the premium(retail) market not the value(wholesale) market

try not to confuse hal finney with dave klieman

CSW had a "cyber security" partnership with an american guy called dave klieman. they had no involvement in bitcoin
they started up a "cyber security research" company (W&K info defense)in feb 2011 where CSW was trying to start up a gold trading exchange. and also con the american Department of Defence out of research grants for cyber security software research.
https://mylegacykit.medium.com/faketoshi-the-early-years-part-1-9964fc1639e3
filed 3 research grant proposals in feb 2011 - responded(rejected) may 2011
BAA 11-02-TTA 05-0155-WP: TTA 05 Secure Resilient Systems and Networks - $1,800,000 -DK
BAA 11-02-TTA 01-0127-WP: TTA 01 Software Assurance through Economic Measures - $650,000 -CSW
BAA 11-02-TTA 09-0049-WP: TTA 09 Cyber Economics - $2,200,000 -CSW
all attempts failed and DK dissolved the partnership and stopped communicating with CSW in 2011. partly (presumed) due to a failed scam and party due to DK's health deteriorating


CSW then shifted gears researching other industries/opportunities to scam. where he first heard about bitcoin in july 2011 and made some comments about it. but that was all.(CSW wanted wikileaks to use bitcoin, funnily the real satoshi was against wikileaks support of bitcoin)

he returned to cyber security drivel discussing highschool level stuff of email headers and website metadata.. and nothing really happened for 2 years

CSW first BTC purchase(of 15btc) was in april 2013.  never bought or mined coin before that point.

he tried to reach out to DK again to re-establish a partnership but found out DK had died

at this point CSW started his bitcoin related scams, trying to get grants from aussie government and such saying he was a bitcoin miner saying he had millions of dollars of super computers. thus getting tax rebates and such

he gained in total about 45btc in late 2013-early 2014.. but lost about 45btc in the mtgox saga of february 2014 which cost him not being able to pay off liabilities in a business he had(hotwire) thus the scamming really ramped up trying to scam investments after feb 2014..
he in feb 2014 he rebranded an old cyber security company Strasan Pty Ltd to C01n Pty Ltd now wanting to start a "bitcoin bank" (i guess the mtgox custodian karpeles "money missing" inspired CSW to do the same )
where he started backdating things. he transfered the defunct W&K info defense brand in april 2014 to his new scambuddy investor ugen nguygen. and then expanded his scambuddy investor list

comparing a brick and mortar retailer to a similar size online retailer, the differentiator is the lease and business rates.

having a physical store has a higher tax bracket than a warehouse serving via a website. yep just having a shop on mainstreet with a sign above the door that allows customers to enter and browse comes at extra cost. even things like liability insurance incase a customer had an accident is a differentiator

..
when it comes to the mom&pop independent retailer vs national chain retailer. its the wholesale cost of goods that is a differentiator. small retailers dont have the wholesale purchase buying power to get the best prices.

using the same data as my last post it turns a £0.15 wholesale price for small independent retailer. becomes a £0.10 wholesale for the likes of wallmart.
also walmart can, due to its customer footfall of 10,000 a day but only 5x the number of staff compared to a small retailer have better profit margins

in short
beans cost to customer
£0.40 - small ind' retail - £0.05 profit(12.5% profit)
£0.25 - large nat' retail - £0.10 profit(40% profit)
£0.25 - large nat' web  - £0.125 profit(50% profit)

doomad you are so insane you have things backwards in so many ways

LEARN CONSENT.. if not for bitcoin, for any relationship you ever have in life.,. stop expectng people to kiss your ass on demand

you really do not understand consent and so you are trying too hard to be an idiot to pretend your mis-understanding is justified

onchain is the common room of university students
where in normal legal consent. if someone suggest an orgy, people can just say no. and no orgy happens. (doomad probably acts surprised by this concept of consent)

where people just stay in the common room doing normal things without threat or harm or insult or malice or attack or coercion into accepting sex.
(again doomad is probably shocked at this notion)

where it requires an actual majority of the attending students to agree on an orgy for an orgy act(vivation) to occur

however doomad thinks an orgy has to happen where he thinks its the rapists right to make sure it happens where in doomads scenario the only opt-out is "the freedom" to leave the common room. thus faking a vote that the remainers are voting for an orgy whether they say so or not.

 where by staying in the common room means for doomad they are forced into sex or atleast left in the room to watch it happen without any say so or way to stop it.. where you cant even 'just say no' and just stay in the room doing normal things, where no sex happens.. even if majority would have said no.. doomad still wants sex to occur
in short rapes happen and those staying in the room have no choice but to watch it happen

as for doomad crying about a 6% veto
from the november 2016- june 2017(days prior to the mandated threats). segwit didnt even get 50% so why was he crying about 6% veto when segwit had natural 50%+ veto

by which point with such a low vote 46% vote in favour, it should have been an opportunity to the devs to go back to the design board and figure out what the community actually would want. something that could have got a true actual natural vote of a 80% threshold without needing mandated pre-rejection threat and abuse. and fake voting

doomads version of consent is
"im having sex with everyone in the room, if you dont like it, go to a different university"

(im trying to justify doomad to being at college level. so using that age level analogy of consent..  otherwise ill have to go back to talking as if doomad is 5yo again)

the issue is that although SOME customers have moved to online purchasing groceries straight from distribution centres rather than a local store. its actually the local leases and state/county taxes on local businesses that have choked those small local stores out of business.

EG initially 9.6% footfall drop of revenue. but 60% increase of bills and rents.
store gets 1000 foot flow. online equivalent does 8 deliveries an hour for 12 hours(96)

imagine a tin of baked beans only cost £0.15 to make
an online store has an distributor lease/tax cost average of £0.05 and so sells for £0.25 (£0.05 profit)
but a local store has a £0.20 business lease and state tax rate average so sells for £0.40 (£0.05 profit)

here in the UK many towns have lost lots of local stores due to business rates, which then pushed people that normally shop locally have no where to shop locally.

many people prefered to shop locally before-after work when carparks were free and businesses had things they can see touch smell and decide on buying.

it was not that a customer decides to shop online "for convenience" as many dont want day old groceries picked by a stranger. or choosing clothes they cant touch or try on in the stores changing rooms before purchase.. where by instead they have to "order and hope"and having to pick a day off to get delivery
.. it was a push to go online because stores closed because it was the local stores that became a premium price compared to online due to their physical costs and higher lease, local parking and taxes.
things like:

by pushing local stores to be a premium and unable to compete against their online competitor. the local store dies. even if they had the extra 10% of footfall back in the town centre.. that wont be enough to cover the 60% premium required to stay afloat

when new methods of "desalinating water"(the next "new industry") lithium will become more accessible from the brine left from desalination.
....
yes there will be more small "city cars" where people are not buying large SUV's but instead small cars like a VW bug(fiat500/nissan leaf) size, but thats just a cost efficient and lack of availability of larger vehicles

however add in the delivery trucks and parcel delivery vans which are starting to come out now. it average out the same requirement

you have things backwards

that guy in the video saying bitcoin has no cost no value and due to taxes is a negative.. has it completely wrong
if a miners electric increases due to wars, crisis or taxes. there is more cost. meaning the value rises

bitcoins value is derived from the entire planets lowest cost to acquire bitcoin
and if next year the cost is higher due to wars, crisis or taxes the value rises (it doesnt go negative)

bitcoins value is not derived from the ATH market price(many fools think it is)

there is a 3 layer to the methods of acquiring:
Premium rate- public speculation markets  \_
                                                               _> less efficient miners jump in and out of these groups
preferential rate- OTC platforms                /

value rate                                              - most efficient mining farms stay in this group

its like the retail market
retailer
wholesaler
farmer

bitcoin mining at the most efficient cost is the bottom. if you find the cheapest mining cost of bitcoin ON THE PLANET you find the bottom. yep if no one can acquire bitcoin for less. thats the bottom.
no one wants to sell for less. thus it becomes the ultimate support price for a bottom where people then sell for that amount or more. where there is then a premium for the supply/demand stuff ABOVE the bottom

this bottom can change if there was a PROLONGED hashrate competition drop. but the most efficient miners creating the bottom support do not play to daily whims,so it has to be a prolongs drop

they are not on daily-monthly electric bills. they purchase electric blocks of GW in 6-24 month chunks
their hardware is not running intermittently. it runs on a ~2year life cycle constantly, before selling hardware as second hand to altcoiners/hobbiests, and investing in next gen more efficient hardware

they cost out their costs over those periods and compare it to the coin they get over those periods.
which then calculate to a coin /cost bottom(based on a 6-24month) average

bitcoin value does not change in a volatile manner compared to the market premium, as the costs are semi-fixed for prolonged periods

things like electric rises and tax on electric actually add costs to the bottom. meaning the value rises.

bitcoin does not have negative value due to taxes at the electric(carbon) level. it has positive value or more precisely more premium due to those taxes raising the cost of electric

says doomad that has said that he does not believe in consent and pretends that no consent is needed to perform a act(tivation) on a community
and that the group cannot refuse or "just say no", where he thinks the only option of refusal is to not be part of a community.

i feel doomad is the depraved one if he idolises such methods of performing an act on others and wants it to continue where it should not be stopped by anyone because he believes in the freedom of the abuser reigns supreme, even at the cost of the security and harm it can cause on multiple others who end up having their choice and freedom dictated or removed.

lets hope it only takes 2023 for doomad to learn and understand consent by census (consensus)
and not be another 5 years of him thinking it means obediently 'subs' follow the bdsm 'doms' bedroom rules of a orgy fest who make the decisions without contest for everyone else involved. where the only "just say no" option is to get out of the room and let the 'doms' continue their acts

with the assumed numbers posted in this topic of 16,000 businesses and 100m users

we recently seen an event caused by just one business creating alot of congestion. which shows bitcoin* needs to SCALE BITCOIN*

bitcoin is only currently averaging 1.9k tx a block
=273,600 payments a day
meaning a daily use for only ~275k people/businesses

certain people of subnetwork idolisms have been seen shouting "just wait a week it will calm down". or "just pay more fee" to prolong the congestion by getting ahead of the congestion.
however thats not solving anything. its just delaying daily utility and costing people more then a US coffee or an african weeks wage

this has due to not scaling bitcoin* for years, lead to an over promise of utility of custodial services(exchanges) and altnet middlemen multisig networks being used as the 'solution'
but both of these come with many flaws, and risks
and the obvious,(those altnets and services are not bitcoin. but bitcoin emulators, brand stealers, catfish, when people play with their value on these risky services/subnetworks)

we see their attempts to break bitcoin, saying:
its unfit/cant scale due to[insert lame excuse such as]:
 -1990's floppy disk limitations(facepalm)
 -1990's dial-up speed limitations(facepalm)
its not demanded, due to:
 - only one person discussing it(facepalm)
 - no one wants it (facepalm)

and then trying to get their favoured sponsored devs to only develop code that makes it harder to use bitcoin and easy to offramp to some subnetwork/custodian

these custodian, middle men subnetworks are the crutch where those offering the crutch are saying bitcoin is the broken leg, where infact the ones offering the crutch are the same people trying to break bitcoins leg, so that it cant run, while saying that bitcoin cant and should not run.

those that adore and support middlemen subnetworks/custodian services pretend there is no one apart from one person that wants bitcoin* to expand in its utility
yet this topic of lots of individuals wanting BITCOIN* to scale to get more adoption (ignoring the couple of people yet again maliciously promoting a subnetwork)

* emphasis on the bitcoin network part, not some other promoted service/subnetwork emulating/catfishing bitcoin brand.

grabbing a public key, of an era of coins that were sent to a P2PK address is not proof of ownership.
a signature is proof of ownership. which CSW never shows

listing just public address and public key. is not proof of money, its proof of dummy(for those that believe its proof of ownership)

as for the fear some people have about address re-use and p2pk

the actual satoshi gave some coin to hal in january 2009 using P2PK. and then used same address 5 more times to make other transactions. meaning the key was re-used x6..
..yet, nearly 14 years later, lots have tried but no one has succeeded in brute forcing the public key to raid the value still linked to that address

which shows how powerful and secure bitcoin is