mainly calvyn ayres
but pretty much these guys
https://bitcoinassociation.net/team/
 and a few others since then where CSW has been spinning up new companies to then grab in more investors

most commodity investors are looking at whats happening in autumn 2023 to determine what to do now. as prices for winter 2022 were already factored in in spring/summer 2022

never think about investments in commodities from the point of view of the consumers needs this month or consumer reactions this month. be 6-12 months ahead of that
 

taking a look at industries such as car manufacturing..
back in spring .. tesla seen the recession and knew having spare fiat or just stored asset investment money hanging around doing nothing was being wasted sat there..
because they knew car parts would cost more in 2023 due to higher costs of material and shipping as of summer 2022-2023.

many industries already liquidated investments got the cashflow and went on a buying spree of parts/materials while cheap in the spring. thus stock piled material for summer 2022-2023

any cash they then earn summer-winter 2022 from product sales they can put back into investments again

oil was the same. they seen the impending winter. and already pre-bought oil in summer for the winter.

yes industries do not buy produce on the day they need it.

same with food/agriculture.
retailers dont just buy at harvest. they already preplan the harvest need at the seed sewing/planting season
if they see that people will want more food in winter. they go to farms before seeds are even laid to do deals to get enough produce for winter.

so when trying to predict impacts of winter for the consumer/citizen. industries have already priced this winter into the market in spring/summer

yes bitcoins is deemed as real. many countries recognise it as a currency and not just akin to pokemon cards or beanie baby stuffed toys.

you are yet again forgetting the layering affect. and the different wording

something that people find desirable and useful (their sentiment(values)).. turns a liability(cost) into a asset(value)

values(sentiment)+value(cost)=valuable
combining the values and value = something "becomes valuable"
valuable=able to have value

costing alot doesnt "give value" on its own
but its that underlying cost thats the financial value amount underlying the price of an item that has values

EG bitcoin jan2009-feb2010 had values(sentiment desire/need) but didnt have a value(economic number)
bitcoin did not become valuable until ~march 2010


just concentrating on the words "backed by value" (not values/valuable))
is the backed by a underlying cost no one wants to sell below thus its backed by a minimal amount everyone refuses to go below. backing a minimal amount(value)
bitcoins is backed by a value of $15k. no one wants to sell below this right now. thus its backed and supported.
the price is higher due to the speculative part of sentiments of individuals

but underlying the random whims of individuals. is the ultimate bottom cost no one sells below buy everyone is willing to pay that or more.. thus backed by that value


banks dont store/offer bitcoin.BANKS ill repeat BANKS do not. they offer FIAT services

people can use banks to service their FIAT transfers. but BANKS dont service bitcoin custody.

as for other businesses (exchanges) well if the bitcoin is not on your key the coin is not yours. you have no legal rights to the coin, you are stuck with whatever rights the service whichs to offer in its terms and coditions to privilige of access to balance at whatever rate they may decide..

yes good honourable exchanges do offer 1:1 but thats something you need to check a businesses terms and conditions for.

 exchanges. under their business practice and service T&C may decide to allow users to do things with balance the business stores in its databases. where the business decides to honour a 1:1 swap of their mysql balance for a coins deposit/withdrawal. but that can easily change by them change their business terms and conditions..

do not confuse a crypto exchange for the BITCOIN protocol/rules

you see this happen with fiat. banks change there terms of service about fiat. its where they change interest rates or monthly charges, or rates, or fee's or other messy things where people dont always get back what they handed to a bank

do not confuse a bank with a bank note. once you hand abank note to a bank. you lose rights over the bank note. they can and do limit your access to the bank notes you deposited(handed to them)

do not confuse the bitcoin networks storage.. with businesses terms and conditions of users membership of balance on their database..

do not trust a exchange.. use them by all means for quick activity. but dont think of exchanges as wallets or the bitcoin network rules

miners have a cost to mine blocks.. but their reward is not the blockchain. they are not trying to sell the blockchain
their reward is the coin produced within the block they worked on

farmers have a cost to farm cattle pastures.. but their reward is not the cattle pastures. they are not trying to sell the farmland
their reward is the milk produced within the farm they worked on

---

part of mining is collating transactions of proof or transfer of coins from one owner to another

part of farming is collating the accounts of milk transports to retailers and customers

---

someone buying is not trying to buy the blockchain or the block. they are buying the coin
someone buying is not trying to buy the land or milk delivery report. they are buying the milk

---

coin holders do not want to sell their coin at a loss

milk holders do not want to sell their milk at a loss

id suggest do not invest in PoS coins. they have no backed underlying cost in their production. their market price is propped up purely by speculation of human decision on what people think they could/should pay/sell for
(trade (in-out quit deals.. but dont invest(hoard/hold))

asset with a underlying cost of production has a world wide base "bottom" no one is stupid to sell below. the price speculation above that is then the variable of different peoples costs or motivations.

only buy assets on their LOW

work out the most efficient cost on the planet to acquire that asset by any means available

EG if its gold. imagine the costs of mining it and working out the land lease costs of the plausible cheapest leasing costs, lowest labour, efficient sluice machines and diesel and how much a season cost is.. and the average gold yield mining produces. and calculate that bottom rate.

then look at the market and see if the market price is high at a premium far from that base. or if its at a low close to that bottom value

EG if the gold current "bottom" is $900
if historic market top is $2000.. and the current price is $1700
then put it into a visual form
gold($1.7k as 66% of market window)
   ||||||||||||
900       ^  2000

(bitcoin: $15k is the most efficient mining cost using good efficient current gen asics including hardware costs of lowest electric plausible to use
bitcoin $90k is the most expensive mining at current hash rates)

bitcoin($20k as 6% of market window)
     ||||||||||||
15K^           $90k

you soon see its probably time to sell some gold and buy some bitcoin
where you start to see how much gold to have vs how much bitcoin to have. which on those 2 gauges show to be very very much in on bitcoin right now.
if there were multiple good assets with all being in the good green zone then you would split your wealth over more of those good guages

in short.. work out the markets underlying costs and the market window of speculation and where he price sits in that window.
and if your current portfolio shows you are holding during a high. take a bit out of that and put into something on a low

emphasis buy the lows, sell at a profit.
dont buy into things with no underlying costs that are pure speculative. and unsupported. especially dont buy into projects that have no real utility in the real world

heres the thing, CSW doesnt care. about what he says or does, or anything. he is just a ass on the seat just there to let the press get some action

win or lose is meaningless to him. proof or no proof is meaningless to him

he doesnt even care if he has 1 lawyer or 20 lawyers. or if he has to travel to places or go to court on a weekly schedule

because.. (big picture)
he is not paying for this out of his pocket. his fanbase are. the people he conned are paying the lawyers and CSW's hotel bill.
he made fake promises that they will get returns on their donations to his games in the form of his stories he can sell

to him, he he is just on vacation via someone elses expense, drumming up his fame to garner more people into paying for his lifestyle

for him its a media event to get his name in print more.
for him its him trying to say things to convince his fans that they need to pay him more.
for him he is just trying to annoy everyone outside his fanbase hoping they too will just pay him to go away.

---

we see these game sin other silly communities
(flat-earth /climate denier /covid denier)

there are different groups of people
1. the ex doctor/ex employee/someone with notoriety. doing convention speaking tours saying what ever script they are paid to say.
they dont care if they say one thing to one person and the opposite to the other. because they are getting paid 2 times to say 2 things and all they care about is the payment

2. the the conspiracy nuts
these people are willing to pay to have some person of notoriety/accredication/reputation to echo chamber the conspiracy nutters mindset. it does not matter the topic if a nutter has a thought he would pay to hear someone else agree with him.

3. the sucker/loyalists
these people want to suck up and show loyalty. they donate or pay in or use their own labour as payment to join the plot in hope that they can get returns on their money/time they put into it.

4. the oppertunists
these are people that have been asked to be involved and think its a good deal. get paid to go on vacation for a week meet someone sign some NDA and say something and get paid for those words. they dont care about the aftermath of how those words are then used, they just accepted the free holiday and payment for their words

..

the big picture game of CSW is he doesnt care about "proving satoshi". his gravy train wont earn anything from that. his income is about stirring the drama to get more people to just pay him for just turning up and saying "something". it doesnt matter what has to be said. whether its saying he is satoshi, whether its saying he knew satoshi, whether its denying it. whether its counter arguing previous statements. each event is a payday.
he can say he is male on monday, get paid. female on tuesday, get paid. argue monday didnt happen get paid. argue that there are no genders on thursday and then argue there are only 2 genders on friday. he does not care about the conversation or words said each day he just cares about getting 5 payments for 5 things

KEEP THIS IN MIND when trying to understand CSW.
you dont need to understand why he says things. because he does not care what he says

1. yes energy is "spent".. not saved
2. bitcoin is not about trading electric batteries with potential energy to power other electrics

the spent energy has a cost. and people trade for what is created(mined coins) when that energy is spent/used. 
because they want the convenience to have coins but without the inconvenience of having to mine them. so they buy the coins from people who have coins (whom had costs involved in their acquisition of the coins).

..
analogy:
when a farmer pays for land and buys cows to graze on it to create milk. ..and then those cows actually do create the milk.

that milk is not "stored land". .. its milk
that milk has the costs of the land and the cows.

people want milk because it has a benefit for them. but those that want milk dont want to become farmers. so they just buy milk at a fair price that should atleast covers the farmers costs

the now milk owner does not now own "land" nor want to own land.. he owns milk that milk had a underlying cost in its production.

well under snowshows very own definitions

snowshow's messages hold no value and are meaningless because the amount of energy and time he put into creating characters on a page have no meaning or value. (correct snowshow?)

his messages stored on this forum are just random characters on a page with no value or meaning.(correct snowshow?)

if so, then.. bye snowshow.
you are just wasting your time and energy, (by your own admission, right?)

4. he is doing a CSW
this month CSW is tying to say that "proof" is not about signing or data. its about establishing "friendships" and using "friends" as witness as his proof.. and this topic creators plan is the same... trying to say he knew satoshi and the first devs of late 2008-early 2009 ("founders") to try to slot himself into history. not using hard data. but some story he made up without research and just pound it out in repeat hoping he can convince people.

with the twist that the ("founders" his word) owe him coin he paid for

..
its not an original scam. and he got caught playing it.. game over

that alone should be the nail in the coffin

"friends" paid to visit him and made to sign an NDA with further payment to stay on script or penalty for going offscript.. is not friendship


CSW doesnt know how bitcoin or cryptography work.

CSW trying to use bribed/blackmailed people as "proof"
..
dig your hole deeper CSW, the drama funeral will be excellent

something having value (economic number)
someones values(desires, emotions, sentiments of features and benefits)
something valuable(value + values)

there are 3 different words of different meaning you are not quite grasping

let alone the previous lessons of the different of price vs value


banks ?
no bank has offered a bank account to put your bitcoins in

if you mean exchanges used as custodians.

you dont store your own bitcoin in a custodian. .. once you transfer your coin to a custodian address, they are no longer "your own"

bitcoins never leave the blockchain. EVER
if they are not on your keys they are not yours.

peoples decision to give up ownership rights to property they feel is theirs by deciding to transfer ownership over to a custodian is not a bitcoin flaw.. its a human flaw

once the transfer is complete where you no longer have ownership control using bitcoin. you are then no longer using bitcoin. but using the human world of trust and business law

(much like handing bank notes to a bank. doing so you lose the privilege of bank note utility, and now entered the realm of business law of their service terms and conditions of their limits and access restrictions if you were to request some bank notes back)
....

bitcoin stores bitcoins perfectly. using the cryptographic keys to secure ownership access vis transaction signing as proof of ownership

if someone seen a banana/necklace/bank note on the open street. can you prove it was your banknote.. nope

everyone can see bitcoin on the blockchain. but no one else can grab it and take it. only the owner can move it/claim it.

bitcoin is stored very very well

bitcoin solves many many flaws of previous versions of money.
but nothing can solve the many flaws of human

it requires us humans to know and learn and protect what is ours. it requires us to change our ways

asic resistance does not lower electric usage. it just lowers hashrate/difficulty

those on asic resistant algo's just end up setting up GPU farms
which have high electric usage for low hashrate output (inefficiency)

EG 1x s19 asic = 3.25kwh for 110,000Ghash
16x GPU rack = 3.25kwh for 1Ghash

---

miners have to follow the rules core developers set out.(singular reference client point of failure weakness of bitcoin*)
users follow the rules BUT if the rules changed overnight(mandated/contentious fork). they follow the network that is most accepted by majority of exchanges/merchants/services(so that people can spend coins with known services)

---

something to not be afraid of this second but be aware of(for research/learning and matter of fact knowledge of risk) a possibility.

another "mandatory upgrade" could occur (blockstream +NYA tactics) but next time via regulatory push, involving mandated activation code that signals a changeover to a non-PoW mining algo

whereby (scenario to be aware of)
all the main licenced/regulated exchanges/services/merchants have to regulatory comply to agree to only accept non PoW coins, (call that the NY agreement comparable)
where they also push the core devs to code it(call it the Blockstream push comparable*)

take a few moments to think of the ramifications of the 2017 tactics used to mandate a feature upgrade, being used again, but this time by regulators pushing devs and exchanges to collude and push for another upgrade.
just so that you can be aware of possibilities
if a financial portfolio group DCG managed to pull it off in 2017. regulators can too

---

*dont turn this into a social drama debate about insults, taking sides, defending brands or pointing finger or trying to rewrite history depending on loyalty camps.
just use the hard data,code, facts of history of the event that occurred. to think about how it can be used again in the future against bitcoiners.

for people to watch out and prevent the risks, people need to be aware of the risks. dont shy away from being risk aware.

quick science lesson



gamma is on the left of image..
5G   (10⁹ frequency) is all the way on the right
microwave <> radio frequency range
butterfly <> human wavelength range

for a wave length to damage things at the cellular/atomic level the waves need to be so small that they can vibrate between the cells/atoms to break them

5G waves are bigger than a butterfly meaning they bounce back from objects, not get between them

as for your other narrative conspiracy about covid being fake and chinese people died due to 5G. your conspiracy got debunked 2 years ago. you are very late to be pushing that fake crap.

also its unrelated to bitcoin

that was not a 51% attack
that event on the altcoin was rewriting the protocol code.
nothing to do with a 51% attack

if it involves changing the rules where a certain percentage of the network are not in agreement (contentious) where code changes are involved thats called a FORK. not a 51% attack

you cannot just steal coins from a dataset thats 13 years old via hashpower. thats not how blockchains work. it also requires the nodes to agree to the CODE change (which is usually possible on some crappy altcoin with not that many nodes to sway into accepting code changes that are malicious

again you want to ignore actual events of bitcoin history.

its not about any personal opinion or emotion.. its just plain hard facts of researchable data..

get that hint atleast!!

you have been told the actual history of bitcoin.
you ignoring actual events is a red flag that you dont care about finding anything real.

you repeatedly trying to push a silly story wont change the facts of bitcoins blockdata or events of history.

you are becoming as bad as CSW

so one last time
there was not site available offering bitcoins late 2008-early 2009 which you could have a login username or password for

the earliest site that allowed such method of trading was march 2010

(a site in october 2009 didnt have a log-in trade service. it was a price listing page where people would do email correspondence to get paid paypal and the seller would then send bitcoin to someones bitcoin address in the buyers bitcoin wallet (no 'log-in' just email chat/trade)

there are atleast 1,500,000 asics mining the blocks 24/7 right now. split off into hundreds of thousands of individuals homes and thousands of asic farms. pooled into dozens of pools
yep BILLIONS of dollars of hardware decentralised. and a millions+ dollars an hour in electric(spread across hundreds of thousands of electric bill payers) spent mining blocks

there is not one single place to "attack" in regards to re-organising recent blocks of bitcoins blockchain

to even attempt to amass enough hashpower to outpace the network someone needs to have control of ANOTHER 1,500,000+ asics

this then means they have 50%+ of the hash power. to compete in the race to achieve and remain ahead of finding blocks faster then the rest of the network

but even at a 1.5m vs 1.5m+ is a 50%+ chance of their block being first to be the next one added to the blockchain. and 10 minutes later. still 50% chance which this time they may not win.

even then.. its not as simple as just changing any/all blocks
ill explain
the blocks are linked together. they cant just decide to change one block from year X in the middle of the blockchain.. they have to work backwards from the current block if they want to change older blocks

but before i get too far into that. lets just explain what they "could" do, which is 3 things:
1. make new blocks do "empty block" meaning not include transactions.
2. only include their prefered transactions in new blocks
3. go back only a certain number of blocks

lets delve into (3)
to go back 1 block and change its transaction list. requires then to re-mine that block. which takes time. then they have to mine the current block the clean network is mining and then the next block before the clean network does to outpace the clean network to then changed block list of the 3 blocks(past present and future) then become listed as the blocks the network follow.. but even this is not a 100% guarantee its a 51% guarantee they can win the race.

to go back 2 blocks takes twice the amount of time meaning even less change.

the costs of going back and editing a blocks transaction list costs more the fursther back you go with less and less success unless you have ALOT more then 51% of the clean networks asics

the cost of the attack becomes too high to even be profitable. becasue all you will achieve at best is to change out a large transaction you already spent. to make it appear that it was not spent. so you can spend it again..

but here is the thing. for any transaction of reasonable value. people do not accept it as immutible unless it has 6confirms.. thus knowing its safe to assume its immutable at that point

yep.
it costs over $300k of just electric (and billions of hardware) to re-org 1 block
double that for 2 blocks($600k) double that again for 3 blocks($1.2m)  and so on

so people that accept payments of lets say $50k know its not worth a malicious person to try to undo a $50k tx. so people accepting payments take the extra precaution of waiting for 6 confirms before assuming the transaction is immutible

yes they can assume immutibility of $50k at 1 confirm. but when $50k is involved, no point being impatient. just wait 10-20-50 more minutes and be rest assured its absolutely not worth a malicious person to try to double spend it.

oh and also any merchant doing sales/accepting payments of large amounts is also watching the network for pools that are suddenly using higher hashrates compared to other pools..

there are many many safeguards and watch to watch for possible issues and also just to take precautions if dealing with large amounts..

..
that said,,
many many altcoins with very low PoW hashrates can easily be chain re-org (51% attacked) very cheap and without much effort.. those altcoins only protection is that no one cares/uses those alts enough to even be worth attacking. thus although they can be easily attacked. "whats the point" mind set is their reason no one bothers

no there is not
back in 2009 there were not that many people
case in point. blockchain data can tell you alot

did you know that from 2009-march 2010, that if you look at the amount of transactions done per day. yes whole days. the average transactions even as far as march 2010 was under 10 transactions A DAY

there were not that many people using bitcoin back then
it was not even thought of as an investment before march 2010
people were not valuing it as a asset to be bought and sold for fiat before march 2010
there was not even a website to log-in to do trade before march 2010

the silly thing is..
.. people still stupidly think that the stable, supported value of bitcoin belongs at the top. where they call the corrects a "crash" or a decline.


what people really need to remember is that the few days before the correction is the temporary event thats not sustainable. these unsustainable unstable events are the speculative bubble highs. the jumps before they can walk..

bitcoins price right now is at the great value area. not the premium. its where the price should naturally and slowly progress upwards

its not meant to be thought of huge leaps and stay up high and then cry if it comes down where people are screaming "why did it go down"

its meant to be a slow rise where people see temporary bubble spike and question why the high

its to expect progressive increase . where any large leaps up are the temporary event to take advantage of but expect the correction back to good value