I'm here trying to use Peter Turchin's elite overproduction model and Robert Shiller's narrative economics model to try and understand events that are happening right now. Then some low iq muppet comes along and deletes my post. With all the shit that's posted on this site, you have to be some seriously retarded individual to delete my post.
Should low iq individuals be allowed to moderate on here?
This is what I have of it:
reply of yours, quoted below, was deleted by a Bitcoin Forum moderator. Posts are most frequently deleted because they are off-topic, though they can also be deleted for other reasons. In the future, please avoid posting things that need to be deleted.
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Quote from: pooya87 on August 03, 2026, 04:49:28 PM
Quote from: SaddamoftheWest on August 03, 2026, 03:47:18 PM
The coldcard hack will be one of the most significant events in the history of Bitcoin and self custody.
Not it is not. And I personally never liked when people paid to have a bitcoin wallet (hardware). It is the the method the lazy people use and some businessmen make money of it.
Bitcoin was changed the day all these companies started selling bitcoiners stuff. Not when one of these centralized entities messes things up.
People should use open source and reliable software to generate their keys offline on an airgap system where their keys never "meet the light of day" not a semi-cold tool where their entire security relies on whether the software installed on their hardware-wallet is actually blocking outside access or not. Such software doesn't need updating either.
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Right now, there is a full on assault on self custody. This attack is not coordinated, but driven by a large group of self interested individuals who are trying to make a name for themselves.
I don't follow the drama but I'm not surprised either. This will pass though! It's just temporary drama where people talk about it a lot for a little while before they move on to the next thing. As I said, this won't change a thing.
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What unifies this group is that they are latecomers(mostly post 2020, some 2017) ambitious and can smell blood in the waters of the early Bitcoiners, influencers, podcasters.....
These terms aren't new either (latecomer/newcomer) I've heard them back in 2014 too.
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Edit: Oh, why it will change Bitcoin: the majority of Bitcoiners now are nothing like the early Bitcoiners. They mostly came here for the number goes up, gamble, trade, currency debasement,....They do not give a fuck about self custody or running nodes.
From the day bitcoin was listed on exchanges and its price got doubled (like from $0.01 to $0.02), there has been a large number of people who were in it to make profit. When price went up 10x (reached $1) more people came in and at 100x, 1000x as well as when it reached 12,000,000x. I don't know if they are majority though since we have no way of knowing who wants what due to the certain level of anonymity that exists in this decentralized world but they do exist and will exist as long as price keeps shooting up.
But at the same time there have always been a lot of people who do give a shit about self custody, running a full node, protecting bitcoin principles, and a lot more. That's what matters the most. And you can't ignore this group either.
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Not when one of these centralized entities messes things up.
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This will pass though! It's just temporary drama where people talk about it a lot for a little while before they move on to the next thing. As I said, this won't change a thing.
You are wrong on this. This will not be allowed to pass, as there is an immiserated wannabe elites who entered this industry late, can see all the wealth that's around, and want a slice.
I'm using Peter Turchin on End Times: Counter-Elites and the Path of Political Disintegration as a model and have applied it to what I'm seeing play out right now.
https://fairnessfoundation.com/posts/end-timesQuote
These terms aren't new either (latecomer/newcomer) I've heard them back in 2014 too.
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From the day bitcoin was listed on exchanges and its price got doubled (like from $0.01 to $0.02), there has been a large number of people who were in it to make profit. When price went up 10x (reached $1) more people came in and at 100x, 1000x as well as when it reached 12,000,000x. I don't know if they are majority though since we have no way of knowing who wants what due to the certain level of anonymity that exists in this decentralized world but they do exist and will exist as long as price keeps shooting up.
By early I meant like Satoshi and co. Also, my point was, you don't need self custody or need to run a node to make a profit..... All can be done on an exchange or with large institutions. Hell, maybe Britishhodl can manage it for you.
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