How Bitcoin was hijacked and centralized

[FreeStreamer]

Let's assume what you said was true for a moment;

It there weren't blockstream/AXA, there would be bitmain&Ver Co.

Sorry, I'd rather prefer blockstream.

If bitcoin doesn't work for you, you are free to use something else.

Well op has a few points.

BTC will never scale.  it now does  300,000 transactions to 500,000 daily transactions = it will never scale up. It is much better for large value movements. Much like a 10,000 USD bond.

No crypto will ever scale.

A shitcoin is something like Bitcoin. that's just a ponzi and has no actual utility.

A Blatantly false statement should get him flagged and banned.

No, that's freedom of speech. No flag, no ban is needed. People have the right to hate bitcoin too.

My point is that it's a lie. Bitcoin is nothing special anymore. There's much better cryptos that work much better.

[1714116452]

1714116452

[1714116452]

1714116452

[1714116452]

1714116452

[1714116452]

1714116452

[chmod755]

My point is that it's a lie. Bitcoin is nothing special anymore. There's much better cryptos that work much better.

That's true, I recently tried nano, did not buy nano, but for payments? I'd use that instead of BTC.

Development is also centralized in BTC: 97.6% of all nodes are Core (source: https://coin.dance/nodes)

[Coin_Wow]

Yeah well Paypal is still better faster and cheaper. I don't see why I need to buy Bitcoin just to buy something from Japan. A ponzi is something that relies only on new recruits to grow. Since when was Bitcoin backed by something else than new recruits?

Paypal has burned way too many people, with frozen accounts, etc, for you to win that one.

A ponzi is something that relies only on new recruits to grow, and BTC has that in common, to some extent. However, gold is not a Ponzi and someone has to buy the newly mined gold or prices will eventually crash.

[FreeStreamer]

Yeah well Paypal is still better faster and cheaper. I don't see why I need to buy Bitcoin just to buy something from Japan. A ponzi is something that relies only on new recruits to grow. Since when was Bitcoin backed by something else than new recruits?

Paypal has burned way too many people, with frozen accounts, etc, for you to win that one.

A ponzi is something that relies only on new recruits to grow, and BTC has that in common, to some extent. However, gold is not a Ponzi and someone has to buy the newly mined gold or prices will eventually crash.

Sure, Paypal sucks. It was an intentionally ridiculous example. We need to learn from these Bitcoins design flaws which are increasing blocks size and the transparent ledger. These two features lead to the centralization of Bitcoin. For example Monero has a dynamic block size which eliminates the need for miners to merge as unions and the stealth ledger that prevents identifying user, node or miner.

[gentlemand]

Very dinky post by OP.

I assume this is a bot programmed to gather everyone's favourite clapped out old squit and group it together for our reading enjoyment. We have however read it many, many, many, many times before.

[MCobian]

I do not agree that Blockstream controls Bitcoin miners and developers, there is no evidence in this regard. And until now popularity
and the demand for Bitcoin is high enough to prove that many people believe and use Bitcoin. My advice do not accuse bad things about
Bitcoin without any evidence, I think with your accusations against Bitcoin has proven you are anti-Bitcoin. Maybe you are right about
many coins are better than Bitcoin, but not all coins have the same trust and popularity as Bitcoin.

[hatshepsut93]

Very dinky post by OP.

I assume this is a bot programmed to gather everyone's favourite clapped out old squit and group it together for our reading enjoyment. We have however read it many, many, many, many times before.

OP is just shilling for their hypothetical mesh network altcoin by attacking Bitcoin and other coins. It's quite lame to do so instead of actually providing a better alternative and watching it win through a fair competition, but it's the way of all lazy people. It's just like CWS or Roger Ver who spend way more time shitting on Bitcoin rather then developing their own coin. Just ignore the troll.

[Bttzed03]

~
Is the usual stuff, people make outrageous claims but when they are asked for proofs you have to find it yourself as it's beyond their "duty" to inform you of that as well. He's not the first and he will not be the last, he strats with 1% of truth and ends up with a claim of bitcoin being a ponzi because a company that sells insurance in France is giving money to a group of people.  

Oh, and no, OP is not part of the bsh bch groups, he is having his own dream of "proof of bandwidth"  in the P&D section but he's yet to understand that even his own project can turn into a monopoly without regulation. The same story, everyone who was late to the party has a solution to fix something that is not broken with something broken from the start.

Indeed, it's not the first post criticizing Bitcoin that I've seen here. They just come in to post crap without anything to back it up then fade away which kinda sucks because it would have been a good opportunity for a good discussion and learning (for them most especially).

I didn't realize it's another attempt to promote a "Bitcoin killer" like what the BCH/BSV cult group have been trying for years now. I should have checked OP's post history first

[royalfestus]

I am trying to get the contrast of the blockstream mining and the decentralized nature of bitcoin. The mining process from equal profiting does not look longterm, the coin needed more miners around the world which more purpose than profit but security to the space. Adam back wont ever desire the technology to go back to that and I think the wise miners should be holding on to enough coin to take care of their lives.

[UmerIdrees]

Yeah well Paypal is still better faster and cheaper. I don't see why I need to buy Bitcoin just to buy something from Japan. A ponzi is something that relies only on new recruits to grow. Since when was Bitcoin backed by something else than new recruits?

Paypal has burned way too many people, with frozen accounts, etc, for you to win that one.

A ponzi is something that relies only on new recruits to grow, and BTC has that in common, to some extent. However, gold is not a Ponzi and someone has to buy the newly mined gold or prices will eventually crash.

Sure, Paypal sucks. It was an intentionally ridiculous example. We need to learn from these Bitcoins design flaws which are increasing blocks size and the transparent ledger. These two features lead to the centralization of Bitcoin. For example Monero has a dynamic block size which eliminates the need for miners to merge as unions and the stealth ledger that prevents identifying user, node or miner.

I don't like pay pal because it is not being used in my country and there is one feature to reverse a transactions which most people don't recommend. Bitcoin is far better than paypal. Things like double spending's in bitcoin etc are practically impossible to happen.

[djcaoile1205]

Centralization of bitcoin begins after big populization of asics. Since them, a lot of hash power under China jurisdiction

[amishmanish]

In the hall of shame of FUDsters, you are just a noob OP. These are old tactics. Blockstream is just one of the several such entities. Blockstream is the most common target because it has a lot of erstwhile Anti Big blockers and has been the most vocal in opposing Wu and Ver's propaganda. Samson Mow, Adam back etc constantly confront these people on twitter, including the BSV shills. When it comes to core developers, there are multiple other companies as well as independent developers that form what FUDsters love to refer as Core.

[FreeStreamer]

In the hall of shame of FUDsters, you are just a noob OP. These are old tactics. Blockstream is just one of the several such entities. Blockstream is the most common target because it has a lot of erstwhile Anti Big blockers and has been the most vocal in opposing Wu and Ver's propaganda. Samson Mow, Adam back etc constantly confront these people on twitter, including the BSV shills. When it comes to core developers, there are multiple other companies as well as independent developers that form what FUDsters love to refer as Core.

Haha yeah right. A noob would totally know these things. Sure it might climb in value. I'm not saying that. I'm just saying it's not a decentralized peer-to-peer digital cash as the whitepaper used to say. I think you're a noob if you don't know that Moneros dynamic blocksize actually prevents this whole merger of miner and hijack of the dev team. The exposed dev team is the most vulnerable part of any crypto project. 

[Zionatin]

Errr.... What? Huh? I think you need to do a little more research there. To me centralized means I do not own it. The money in the bank you don't really own unlike crypto which is yours and yours alone. There is no central authority. You cannot control it. Buddy if there was a central authority then bitcoins price could be predicted and manipulated easily. It just isn't the case.
And yes many people use it. Go look at websites that you can work at or earn money from the payout in crypto. Even large companies are.

[amishmanish]

In the hall of shame of FUDsters, you are just a noob OP. These are old tactics. Blockstream is just one of the several such entities. Blockstream is the most common target because it has a lot of erstwhile Anti Big blockers and has been the most vocal in opposing Wu and Ver's propaganda. Samson Mow, Adam back etc constantly confront these people on twitter, including the BSV shills. When it comes to core developers, there are multiple other companies as well as independent developers that form what FUDsters love to refer as Core.

Haha yeah right. A noob would totally know these things. Sure it might climb in value. I'm not saying that. I'm just saying it's not a decentralized peer-to-peer digital cash as the whitepaper used to say. I think you're a noob if you don't know that Moneros dynamic blocksize actually prevents this whole merger of miner and hijack of the dev team. The exposed dev team is the most vulnerable part of any crypto project. 

Okay so apart from being a bitcoin FUDster, you are here to promote Monero. Well, there is no need to have a beef then. Monero will always have its niche users. You don't need to pit them against each other. Bitcoin has gained considerable network effect, institutional interest and market stability. In comparison, Monero has enforced privacy by design. The fact that it obfuscates everything makes it a niche option.

Talking about "hijack of dev team" is just your opinion. The contributors and those sponsoring them are as diverse as they come. Bitcoin's development continues to show a high level of integrity sticking to the basics. Stick to monero if you want but it is no use trying to go against the honey badger of crypto.

[btc_angela]

In the hall of shame of FUDsters, you are just a noob OP. These are old tactics. Blockstream is just one of the several such entities. Blockstream is the most common target because it has a lot of erstwhile Anti Big blockers and has been the most vocal in opposing Wu and Ver's propaganda. Samson Mow, Adam back etc constantly confront these people on twitter, including the BSV shills. When it comes to core developers, there are multiple other companies as well as independent developers that form what FUDsters love to refer as Core.

Haha yeah right. A noob would totally know these things. Sure it might climb in value. I'm not saying that. I'm just saying it's not a decentralized peer-to-peer digital cash as the whitepaper used to say. I think you're a noob if you don't know that Moneros dynamic blocksize actually prevents this whole merger of miner and hijack of the dev team. The exposed dev team is the most vulnerable part of any crypto project.  

So what's your point? all of us leave bitcoin just because it's no longer a "decentralized peer-to-peer digital cash as the whitepaper say"? Or are you confusing newbies and beginners here with you argument and question bitcoin and shift to Monero?

[boyptc]

Yeah well Paypal is still better faster and cheaper. I don't see why I need to buy Bitcoin just to buy something from Japan.

If that's what you think, I can't change that because it's what you think. You are literally saying with the few usage of bitcoin that I've given as an example. I've said that it just the few use of bitcoin.

A ponzi is something that relies only on new recruits to grow. Since when was Bitcoin backed by something else than new recruits?

Then miners won't be mining paying for electricity to maintain the network secured.

Btw for PayPal was said to venture in crypto.

[Etsu]

This is what happened in 2013-1014. Bitcoin has a design flaw (increasing blocksize) that makes it distribute mining rewards unfairly, so the miners started merging into mining unions to agree about sharing the rewards equally. The largest merger was named Blockstream which pretty much controls all Bitcoins miners and developers.

Your opinion might be true but you should have back it up with facts, there are certain flows with the blockchain network but i don't think the main vision and concept of bitcoin is highjacked.... Miners teaming up to optimize their profits dosen't mean the entire bitcoin network isn't decentralized again... Almost everything still works fine and the network seems to be attracting more and more of people looking for financial freedom daily

[FreeStreamer]

This is what happened in 2013-1014. Bitcoin has a design flaw (increasing blocksize) that makes it distribute mining rewards unfairly, so the miners started merging into mining unions to agree about sharing the rewards equally. The largest merger was named Blockstream which pretty much controls all Bitcoins miners and developers.

Your opinion might be true but you should have back it up with facts, there are certain flows with the blockchain network but i don't think the main vision and concept of bitcoin is highjacked.... Miners teaming up to optimize their profits dosen't mean the entire bitcoin network isn't decentralized again... Almost everything still works fine and the network seems to be attracting more and more of people looking for financial freedom daily

Yes, the original vision is not hijacked. It lives on in Monero, where all these Bitcoins prototype design flaws are all fixed and improved. Dynamic blocksize eliminates the miners need to merge and stealth ledger and other improved privacy features conceal their identities and locations better.

[Reid]

This is what happened in 2013-1014. Bitcoin has a design flaw (increasing blocksize) that makes it distribute mining rewards unfairly, so the miners started merging into mining unions to agree about sharing the rewards equally.

Proof please?
I can tell you the same thing but facts are difficult to get.
That is the difference.

Please do have something if you are trying to convince us.
I don't see that for now. Maybe someday?
I do agree about miners having a consensus but also have the same thread but been bashed by royalties of the forum.
So, I am just giving you a heads up.