More Investors Are Holding Bitcoin Ahead of the Halving ...

Jeff Garzik: “Today, bitcoin faces existential threats from forks, developer drama and so on. Knowing what we know and having a clean sheet of paper, we asked what would we build and the answer is this”.

...oh, so that explains it.
The old and effective Problem-Reaction-Solution strategy. Well, effective before the current social media era, in which hidden motives can be brought to the light of day to be exposed.
I will keep posting this until the very day of the fork, with the hope that more bitcoiners learn the true nature of S2X/B2X/NYA open attack on Bitcoin disguised as an "upgrade". This is a 2X Trojan Horse, and do you know who is inside that horse? Top level banker's special-forces like Blythe Masters, Larry Summers, Glenn Hutchins (sits on the board of The Federal Reserve Bank of New York) and DCG (Digital Currency Group).
We need to keep our efforts to expose and inform people about what S2X/NYA/DCG really is. Don't trust and don't do business with these companies and individuals supporting the S2X attack on Bitcoin.
Companies:
https://coin.dance/poli
http://segwit.party/nya/
Individuals:
Those guys are pure greed, they don't care about the 7 billion of people on this planet. Expose them and don't give them your business. Starve the beast. They will regret sticking with the B2X altcoin that will go the BCH way (and all the other highjack attempts before them). Moneybadger don't care and only gets stronger and immunized after each snake-bite.
Actually >99% of the Bitcoin community supports the real Bitcoin. The centralized B2X-coin attack is only supported by a handful of rich crooks and the people they've managed to bribe with their deep pockets:
Brian Armstrong, Fred Ehrsam (ex-Goldman Sacks), Bobby Lee, Winklevoss brothers, Peter Smith, Nic Cary, Haipo Yang, Rick Falkvinge, Jon Matonis, Wences Casares, Tony Gallippi, Mike Belshe, Ryan X Charles, Brian Hoffman/Sam Patterson/Chris Pacia (and all OB1 team), Gavin Andresen, Jeff Garzik, Mike Hearn, Roger Ver, Jihan Wu, John Mcaffe, Craig Wright, Barry Silbert, Larry Summers, Blythe Masters, Stephen Pair, Erik Voorhees, Vinny Lingham, Olivier Janssens, Jeremy Allaire, Peter Vessenes, Bruce Wagner, Brock Pierce, Aaron Voisine/Adam Traidman/Aaron Lasher (Breadwallet team), Glenn Hutchins, Bill Barhydt and Jiang Zhuoer.
I posted this 18 days ago:
Exposed: How Bankers are trying to centralize and highjack Bitcoin by buying "supporters" and promoters (like OpenBazaar team) for the B2X (S2X/NYA) attack on Bitcoin.
TL;DR: B2X (S2X/NYA) is nothing more than an open attack on Bitcoin, not an "upgrade" as they want to sell it. This attack has no 'consensus', at all. It was "agreed" by a bunch of miners and corporations behind closed doors, with no community nor developers support. Only miners and a few millionaires that stand to profit from the B2X attack support it. The vast majority of the Bitcoin community is totally against this attack on Bitcoin. Most of those companies are under DCG group:
Every bitcoiner should know about what DCG (Digital Currency Group) is, and call out publicly the people that are working for the Corporations/Bankers against Bitcoin.
Edit: Brian Armstrong back on the list for this flip-flop. And added Winklevoss Brothers for this, and Bobby Lee for this.
submitted by readish to Bitcoin [link] [comments]

Battle Over Bitcoin: China Backs US Startup Coinbase And US Falls Behind In Virtual Currencies.

Indeed, virtual currencies are nothing new to the Chinese. For example, more than 100 million people on the social platform QQ have used the Q coin for more than 10 years. And after China’s state-run China Central Television, or CCTV, ran a half-hour-long documentary on bitcoins, downloads of apps for processing and “mining” bitcoins soared in the world’s second largest economy.
Bitcoin, long the plaything of the Western ubernerd, now appears poised to grow substantially in China and other markets, like the euro zone, where government meddling in native currency valuations has left many distrustful of the money in their bank accounts.
Americans don’t have this problem -- yet. And that may be a problem in itself. According to bitcoin proponents, if the U.S. tries to ignore the nascent currency, writing it off as a financial fad with less value than the seemingly stable dollar, Americans risk ceding to the Chinese and others control of the future of what could be the most disruptive force in monetary exchanges since the credit card. In turn, the dollar and the ability of the U.S. to navigate global currency conflicts could be seriously weakened.
“Here’s the bottom line: Bitcoin has much higher popularity outside the U.S. and much higher potential outside the U.S.,” observed Andreas M. Antonopoulos of the Bitcoin Foundation. “If you go to an American and say, ‘Hey, there’s this new thing, bitcoin,’ they say, ‘Well, what’s wrong with the dollar?’ That question is different in other countries.”
Bitcoins are a finite, Web-based currency created in 2009 by a group of hackers working under the nom-de-Internet Satoshi Nakamoto. Exactly 10,952,975 bitcoins are in circulation, all of which have been purchased on exchange networks or mined. The currency is mined using software that processes transactions on the bitcoin network, adding groups of transactions, called blocks, to the chain. Miners are paid about 25 bitcoins per block. That digital money can then be used to purchase a variety of goods online, from legitimate software to heroin on the infamous virtual black-market Silk Road.
Bitcoin surged in value to $266 last month, thrusting the currency into the mainstream spotlight as investment poured in from sources as diverse as the hapless Brothers Winklevoss (of Facebook infamy) and Union Capital Ventures principal Fred Wilson (an early investor in Zynga, Twitter, and Kickstarter). Suddenly, everyone was talking about buying bitcoins. But the bubble burst in late April, and in the U.S. at least, bitcoin faded from the news. That was not the case in China, where Antonopoulos said downloads of bitcoin clients have eclipsed those in the U.S.
Bitcoins are mined in several steps. After downloading a bitcoin client, such as Coinbase (which serves as a wallet in which to store the bits of code that constitute the digital money), miners often join pools where they share computing power to decode algorithms in which bitcoins are hidden. The concept of bitcoins and bitcoin mining is cryptic for many people, even some otherwise forward-thinking American investors. The irony is that, for now, American startups are leading the bitcoin charge, and the U.S. government was the first to issue guidance on using the currency as payment -- a seemingly tacit recognition of bitcoin’s validity as legal tender.
Why China Poses A Threat
Feng Li, the IDG partner who chose to fund Coinbase, said the Chinese have yearned for access to a virtual currency since the central government cracked down on the use of Q coins.
Q coins were introduced in March 2002 by Tencent Holdings Ltd. (HKG:0700), the parent company of the country’s most popular instant-messaging service, QQ , and they currently average an annual transaction value of more than 1 billion yuan ($163 million). That value is growing at about 15 to 25 percent each year.
Q coins, purchased with yuan, are predominantly used to buy virtual products and services in QQ and its related online games and social media. Originally, Tencent regulations prevented Q coins from being traded between users or converted back to yuan, but allowed users to trade points and purchase Q coins with their game accounts, then use the black market to convert them into cash. That caused concerns at the People’s Bank of China, China’s central bank. In January 2007, converting game points to Q coins was banned, and Tencent reiterated that Q coins constitute a product, not a currency, which seemed to satisfy the concerns.
“There has already been proof with the Q coin,” Feng said of the Chinese likeliness to start using bitcoin. “It’s been very well circulated and very well adopted.”
Already, shops on Taobao -- the Chinese equivalent to eBay Inc. (NASDAQ:EBAY), owned by Alibaba.com Ltd. (HKG:1688) -- accept bitcoins as payment for goods, as does the similar service, Tencent’s PaiPai.com.
The Chinese are embracing bitcoins in other ways. The first bitcoin fund began to raise money in June, with the goal of raising 20 million yuan. The fund’s investment threshold is 10,000 yuan, and it will mature in four years.
Q coin’s popularity isn’t the only reason bitcoin has appeal in China. As it turns out, China is the perfect place for bitcoin mining. While much of the developed world is well into the transition from personal computers to mobile devices, China’s PC market is still thriving, which provides the necessary computing power to run a successful business converting electricity into mined coins. Price caps on electricity already create wasteful use of energy in China, so running a code-crunching computer for hours on end isn’t as costly an investment as it would be in the U.S. And so-called “gold-mining” or “gold-farming” businesses already exist in China’s cybersphere. None of that will come as a surprise to any “World of Warcraft” player: Gamers in Chinese urban sweatshops are known to sit in front of glowing blue screens for hours, slaughtering players in the game for their spoils or mining gold deposits found in the sprawling milieu of Blizzard Entertainment’s international blockbuster. Those treasures are then sold to players in the game for real money.
China has a heavily controlled currency, which also makes bitcoin attractive.
“The more controlled the currency is, the harder the transactions are, the more friction there is in the national currency, the more appealing the coin is,” Antonopoulos said, noted that the most appealing place to use bitcoin would be a country whose economy is a veritable train wreck -- like Zimbabwe, except that the southern African nation lacks the necessary technology. “I would say China is perfect,” he said. “It’s got the penetration, it’s got the smartphones, it’s got the Internet and the people are familiar with virtual currencies. And, it’s got the not-as-appealing national currency.”
Regulation In The U.S.
Guidance issued in March by the U.S. Treasury Department said that companies issuing or exchanging online cash, including bitcoin, would be subject to the same scrutiny as traditional firms such as the Western Union Co. (NYSE:WU) to prevent money laundering.
Less than two months later, the Department of Homeland Security proved that edict had teeth.
Federal officials obtained a warrant Tuesday to seize an account tied to Mt.Gox, the Tokyo-based exchange company that handles about 80 percent of all bitcoin trades. Authorities accused Mt.Gox’s U.S. subsidiary, Mutum Sigillum LLC, of failing to register as a money-services company with the Treasury’s Financial Crimes Enforcement Network. An account held by the online-payments firm Dwolla was subsequently seized.
Many feared the warrant execution could cast a chill over the bitcoin industry as a sector centered on a borderless, decentralized money came under the scrutiny of the federal government.
That proved not to be the case, Coinbase’s Ehrsam said. “For bitcoin to go mainstream, or as it goes mainstream, it will be used in a higher and higher amount of transactions,” he said, adding that Coinbase is registered as a money-services firm. “There’s no way there will be all this money flowing through an unregulated system.”
Chris Larsen -- the CEO of OpenCoin, a fellow San Francisco-based payment platform that processes most national currencies as well as bitcoin and its own virtual cash, Ripple -- agreed. “They definitely are regulating them, [and] we actually think that’s a really good thing for the industry,” he told IBTimes. “I thought the guidance was a good idea. One of the things the guidelines seem to make clear for the first time is that a virtual currency could be used for goods and services.”
The Price Of Regulation
But such regulation is a slippery slope, said Jerry Brito, a senior research fellow at the Mercatus Center at George Mason University.
Perhaps it begins with measures to prevent money-laundering, he said. But what measures would the government take to prevent the untraceable currency from being used for child pornography or human trafficking?
“Bitcoin has the potential to be a disruptive technology that would be beneficial to the economy, and we don’t want to kill off that potential to get at the other potential for bad stuff,” he observed. Brito, who plans to speak next month at a conference on virtual currencies organized by the National Center for Missing and Exploited Children, added: “We’re already the first country to enforce money-laundering laws against bitcoin. But the U.S. would be shooting itself in the foot if it went too far [with regulations] and either outlawed bitcoin or made the legal guidelines impossible to comply with.”
Will China Step In?
So far, Chinese bitcoin merchants have little to fear. For many, the CCTV segment on bitcoin seemed to be a signal from Beijing, which heavily controls the channel’s content, that the currency is worth exploring.
Some of those interviewed speculated that the Communist Party wants to see bitcoin stockpiled in China, allowing the government to invest in it if, or when, the dollar is shaken from its perch as the world’s reserve currency.
It remains to be seen whether -- or, more likely, when -- China will intervene in the trade of bitcoin in its own economy. But for the U.S. to experience widespread adoption of the currency, which is considered a necessary step for gaining a grasp on the bitcoin market, limited government control will have to allow the money, like the Internet that birthed it, to develop organically.
submitted by kazzZZY to Bitcoin [link] [comments]

I think the Berlin Wall Principle will end up applying to Blockstream as well: (1) The Berlin Wall took *longer* than everyone expected to come tumbling down. (2) When it did finally come tumbling down, it happened *faster* than anyone expected (ie, in a matter of days) - and everyone was shocked.

Centralization is a double-edged sword.
So far, centralization (and intertia, and laziness, and caution) has been favoring Blockstream.
But if and when a congestion crisis comes, then the tide is gonna turn pretty quickly - and Blockstream's monopoly in terms of "code running on the network" is gonna evaporate quicker than anyone expected.
How will this happen?
Like this:
Bitcoin is going to go into a crisis - not just the current agonizing slow-motion swamp of centralized fascist governance, but a real-time honking red alert involving a clogged-up network, with people freaking out screaming from the rooftops that millions of dollars in transactions are in limbo due to some pointless fucked-up 1 MB "blocksize limit".
And at that point, people are going to get rid of the damn piece of broken cripple-code, immediately.
End of story.
Slow to crumble, fast to collapse
Up till now, the Bitcoin governance crisis has been like slowly sinking into a swamp of quicksand.
But once a real-time congestion crisis actually hits (and online forums become dominated by posts screaming "my transaction is stuck in limbo!!!"), then all the previous bullshit and bloviating from economic idiots about "fee markets" and "soft hard forks" or whatever other nonsense will be instantly forgotten.
And at that point, there will be only 2 things that can happen:
You don't need Blockstream - they need you
When push comes to shove, people are going to remember pretty damn quick that open-source code is easy to patch.
People are going to remember that you don't have to fly to meetings in Hong Kong or on some secret Caribbean island ... or post on Reddit for hours ... or spend hundreds of thousands of dollars on devs ... in order to simply change a constant in your code from 1000000 to 2000000.
Eventually, we are going to remember what vote-with-your-CPU consensus looks like
Remember all those hours you wasted on reddit?
Remember all that time you wasted in some hidden downvoted sub-thread debating with some snarky little toxic troll who'd wandered over from a censored Milgram experiment forum full of brainwashed circlejerkers and foot-stomping fascists whose only adrenaline rush and power trip in life had evidently been when they would run around bloviating gibberish like "fee markets!" or "Austrian!" to the self-selected bunch of ignorant submissive sycophants who hadn't been banned from r\bitcoin yet?
Well, when the real crisis hits, all that trivial online drama isn't going to matter any more.
When the inevitable congestion crisis finally comes, it's only going to take a couple of mining pools plus a couple of exchanges to make a simple life-or-death business decision to un-install Blockstream's artificially crippled code and instead install code that has actually been upgraded to deal with the reality of mining and the marketplace - and then we're all going to see what actual vote-with-your-CPU consensus really looks like (instead of vote-with-your-sockpuppet pseudo-consensus on Reddit).
This upgraded code could be Classic, or Unlimited, or even a modded version Core - it doesn't really matter.
Code is code and money is money, and when push comes to shove, investors and miners aren't going to give a damn what some overpaid economic idiot from Blockstream said at some meeting in Hong Kong once, or what some fascist poisonous astroturfing shill-bot posted a million times on Reddit.
Things usually move slow in Bitcoin-land - except when they move fast
For an example of how fast the tide can turn, just look at a couple of major events from the past two days:
(1) Coinbase is suddenly saying that:
Of course the good devs are flocking to Ethereum now.
Any smart dev can see from a mile away that it would be suicide to try to contribute to Core/Blockstream - Blockstream don't want any new coders or new ideas, they are insular and insecure and they feel downright threatened by new coders with fresh ideas.
They've shown this over and over again, eg:
(2) AntPool is suddenly throwing down the gauntlet, saying they won't do SegWit unless and until they get a hard fork first.
AntPool represents a pretty big chunk of hashrate - so all it's gonna take is another big chunk of hashrate to make the same practical business decision as AntPool (to serve Bitcoin users, instead of serving Blockstream) - and boom! - Blockstream loses their stranglehold on the miners.
Devs don't like dicatorships
Blockstream is too jack-booted lock-step to ever attract any more new dev talent.
This is because good devs are very independent-minded: they can smell a dicatorial organization from a mile away, and so no good dev in their right mind (who might actually have some interesting new ideas that could help Bitcoin) would ever go near Blockstream and its toxic group-think culture.
And so Blockstream will just continue to stagnate under Gregory Maxwell's oppressive "leadership":
Blockstream has backed themselves into a corner
At this point, people are starting to realize that Blockstream is a led by desperate and incompetent dead-enders.
(There are some great coders over there such as Pieter Wuille - and Greg Maxwell is also a great Bitcoin coder, but he is toxic as a "leader".)
Blockstream can't do capacity planning, they can't do threat assessment, they can't innovate, they can't prioritize, and they can't communicate.
In the end, they're only destroying themselves - by censoring debate, and ostracizing existing innovators (eg, Mike Hearn and Gavin Andresen) - and scaring away potential new innovators.
Remember, Blockstream != Bitcoin
It's important to remember that Blockstream cannot destroy Bitcoin - any more than Mt Gox could.
Once Blockstream is thoroughly discredited in the eyes of the Bitcoin community and the media, as "the company that almost strangled the Bitcoin network by trying to force blocks to be smaller than the average web page" - it's gonna be time for honey-badger jokes all over again.
Blockstream's gargantuan conflicts-of-interest will be their downfall
Blockstream is funded by insurance giant AXA - a company whose CEO is the head of the friggin' Bilderberg Group. (He's scheduled to move from CEO of AXA to CEO of HSBC soon. Out of the frying pan and into the fire.)
AXA doesn't even want cryptocurrency to succeed anyways, because half of the 1 trillion dollars of so-called "assets" on their fraudulent balance sheet is actually nothing more than toxic debt-backed worthless derivatives garbage. (AXA has more derivatives than any other insurance company.)
In other words, AXA's balance sheet will be exposed as worthless and the company will become insolvent (just like Lehman Brothers and AIG did in 2008) once real money like Bitcoin actually becomes dominant in the world economy - which will "uber" and knock down the whole teetering $1.2 quadrillion derivatives casino.
Hmm... AIG... a giant insurance group whose alleged "assets" turned out to be just a worthless pile of toxic debt-backed derivatives on the legacy ledger of fantasy fiat, AIG who triggered the 2008 financial near-meltdown... Who does AIG remind me of... Oh yeah AXA... So let's put AXA in charge of paying for Bitcoin development! What could possibly go wrong?!?
Blockstream's owners HATE Bitcoin
Never forget:
This is the probably the most gigantic CONFLICT OF INTEREST in the history of economics. And it's something to think about, as we sit here wondering for years why Blockstream is not only failing to scale Bitcoin - but it's also actively trying to SABOTAGE anyone ELSE who tries to scale Bitcoin as well.
So, be patient - and optimistic
Viewed from one perspective, the fact that this blocksize battle has dragged on for years can be very depressing.
But, viewed from another perspective, the fact that it's still going on is positive - because, for example, nobody really dares to say anymore that "blocks should be 1 MB" - since repeated studies have shown that the current hardware and infrastructure could easily handle 3-4 MB blocks, and Core/Blockstream's own precious SegWit soft-fork is going to need 3-4 MB blocks anyways.
Plus, the only "strengths" that Blockstream had on its side actually turn out to be pretty weak upon closer scrutiny (money from investors like AXA who hate cryptocurrency, censorship from domain squatters who only know how to destroy communities, snark from sockpuppets who can't argue their way out of a wet paper bag on uncensored forums).
In fact, if you were part of Blockstream, you'd be pretty demoralized that a rag-tag bunch of big-blocks supporters has been chipping away at you for the past few years, creating new forums, creating new coins, creating new products and services, exposing the economic ignorance of small-block dead-enders - and all the while, Blockstream hasn't been able to deliver on any of its so-called scaling roadmap.
If it hadn't been for a few historical accidents (cheap energy behind the Great Firewall of China, plus the other "linguistic" firewall that has prevented many people in the Chinese-speaking community from seeing how much of the community actually rejects Blockstream, plus the other accidental fact that bigger blocks involve generalizing Bitcoin, which mathematically happens to require a hard fork), then Blockstream would not have been able to control Bitcoin development as long as it has.
Yeah, they have done routine maintenance stuff and efficiency upgrades, like rewriting libsecp256k, which is great, and much appreciated - and Pieter Wuille's SegWit would be a great refactoring and clean-up of the code (if we don't let Luke-Jr poison it by packaging it as a soft-fork) - but the network also needs some simple, safe scaling.
And the network is going to get simple, safe scaling - whenever it decides that it really, really wants it.
And there's nothing that Blockstream can do to block that.
submitted by ydtm to btc [link] [comments]

These 25 top-voted posts from r/btc this week show that users and miners are working on real solutions to help Bitcoin move forward, while Core/Blockstream are obstructing progress and losing support. Please help spread this information (including translating for the Chinese-speaking community)!

Antpool Will Not Run SegWit Without Block Size Increase Hard Fork
~ tylev
https://np.reddit.com/btc/comments/4kpgxt/antpool_will_not_run_segwit_without_block_size/
So, this is exactly the situation the Classic code was meant to prevent.
Fixing the issue before it becomes an issue. Classic was correct and full blocks are the largest problem that Bitcoin faces.
~ Annapurna317
Leaders of Core had a childish little selfish tantrum about wanting to work on what cool stuff they wanted to build and wouldn't listen.
It would have been relatively safe and easy to introduce the 2mb HF if it was progressed collectively and collaboratively with good will by all parties.
All of this could have been avoided long ago. There is one person who is very influential who we know to be adamant about blocks being confined to 1mb.
~ papabitcoin
Hardfork in July 2017 will be too late.
If you read the statement by Peter "I don't have a clue about economics" Todd you might start to puke.
“Unfortunately Bitcoin simply doesn't scale well" How about you start to tell what exactly doesn't scale you fuckhead?
P.S.: The blockchain is growing indefinitely, if you don't like that fact you should choose something else than cryptocurrencies or come up with a better way.
~ satoshis_sockpuppet
This is classic narrowmindedness on PT's part.
He'd also be the first one to say that the internet is not sustainable as it produces exponentially more and more data.
These guys are fucking idiots and really have no idea what they are talking about, all they see is "BLOAT!" and "TOO BIG FOR CURRENT NODES!" then react accordingly without even thinking about the fact that Bitcoin's usefulness mitigates these limiting factors almost entirely.
~ ferretinjapan
People are starting to realize how toxic Gregory Maxwell is to Bitcoin, saying there are plenty of other coders who could do crypto and networking, and "he drives away more talent than he can attract." Plus, he has a 10-year record of damaging open-source projects, going back to Wikipedia in 2006.
~ ydtm
https://np.reddit.com/btc/comments/4klqtg/people_are_starting_to_realize_how_toxic_gregory/
Gavin Andresen: Bitcoin Protocol Role Models
https://np.reddit.com/btc/comments/4l0ugy/gavin_andresen_bitcoin_protocol_role_models/
http://gavinandresen.ninja/bitcoin-protocol-role-models
There are limits on routing table sizes, but they are not top-down-specified-in-a-standards-document protocol limits.
They are organic limits that arise from whatever hardware is available and from the (sometimes very contentious!) interaction of the engineers keeping the Internet backbone up and running.
~ Gavin
We've long established that the 1mb limit (or their refusal to remove it) has absolutely nothing to do with technical concerns.
It's a political matter, whose raison d'être we can only infer.
Time to stop the bullshit and the [s]quabbling. Chinese miners wake up! Time to try something new. It quite literally can't be worse than what's going on right now.
~ redlightsaber
Fred Ehrsam / Coinbase basically says that Ethereum is the future of cryptocurrency
https://np.reddit.com/btc/comments/4kvqwj/fred_ehrsam_coinbase_basically_says_that_ethereum/
https://medium.com/the-coinbase-blog/ethereum-is-the-forefront-of-digital-currency-5300298f6c75#.4wqiu5njb
Bitcoin has become embroiled in debate over the block size - an important topic for the health of the network, but not something that should halt progress in a young and rapidly developing field.
The developer community in Bitcoin feels fairly dormant. Bitcoin never really made it past the stage of simple wallets and exchanges.
Bitcoin’s “leadership” is ... toxic. Greg Maxwell, technical leader of Blockstream which employs a solid chunk of Core developers, recently referred to other Core developers who were working with miners on a block size compromise as “well-meaning dips***s.”
~ huntingisland
This was a good sobering read.
It is also worth noting that Coinbase was left with little choice but to broaden its offerings given the current state of Bitcoin usability ...
When BS hijacked BTC away from being money, it screwed a lot of business and usage plans. ...
Praise be to the free market and the market place of ideas.
~ veintiuno
REPOST from 12/2015: "If there are only 20 seats on the bus and 25 people that want to ride, there is no ticket price where everyone gets a seat. Capacity problems can't be fixed with a 'fee market'; they are fixed by adding seats, which in this case means raising the blocksize cap."Vibr8gKiwi
~ ydtm
https://np.reddit.com/btc/comments/4kfqyj/repost_from_122015_if_there_are_only_20_seats_on/
By the way, this shows that a certain other trending OP from today:
Why all the disinformation? Full blocks DO NOT matter, what matters is transaction fees. Currently $0.05
...is total bullshit.
But that other OP was posted in an echo-chamber of censorship (r\bitcoin).
That is dangerous (for them), because it allows them to enjoy the illusion that they are right - when in reality, they are wrong, because they are ignoring the fact that full blocks DO matter: because the overflow goes elsewhere (into fiat, into alts, etc.).
~ ydtm
We just got Blockstreamed! (Coinbase rebranding away from BTC)
https://np.reddit.com/btc/comments/4k455s/we_just_got_blockstreamed_coinbase_rebranding/
Coinbase Exchange to Rebrand Following Ethereum Trading Launch
http://www.coindesk.com/coinbase-exchange-rebrand-ethereum-trading/
Bitcoin exchange and wallet service Coinbase is adding support for ether, the native cryptocurrency of the Ethereum network. ...
This is quite significant. I would interpret this as a loss of confidence in Blockstream to provide what customers need in a timely manner.
While Blockstream wastes time figuring out how to stuff all the world's transaction data into their beloved tiny blocks, the market will move on to solutions that can actually scale and can scale NOW.
Blockstream: The world will not wait for you.
~ objectivist72
Gavin finally speaks - they are "rearranging the deck chairs on the Titanic"
~ aquentin
https://np.reddit.com/btc/comments/4koywo/gavin_finally_speaks_they_are_rearranging_the/
Gavin could post that the sky is blue and it would generate a shitstorm of controversy.
~ borg
Opinions on Gavin over there are variously:
1 - Why aren't you coding for Core?
2 - Which agency do you work for?
3 - Haha classic suxxor
A very telling series of questions that the false agenda has fermented and sunk in.
~ nanoakron
Core has solved the scalability issue!
By keeping the blocksize at 1MB they have motivated users to look to other blockchains. Problem solved!
~ solled
https://np.reddit.com/btc/comments/4k5k80/core_has_solved_the_scalability_issue/
It's actually kind of brilliant !
Think about it: no need for super dangerous hard forks, and not even soft forks. No new code needed, no testing, nothing.
All it took was 2-3 years of endless stalling, organizing some fake conventions, a bit of character assassination and demonization here and there, nothing major. Done.
It was actually very well-thought-out. Congratulations and hat off to nullc adam3us and all their drones.
~ realistbtc
Bitcoin is a giant, global "Consensus-tron" based on a fundamental meta-rule: "51% Consensus based on Greed / Self-Interest" ("Nakamoto Consensus"). Blockstream/Core is trying change this meta-rule, to make it "95% Consensus" ("Extreme Consensus") - the MOST CONTENTIOUS change conceivable in Bitcoin
The main characteristic of Bitcoin is that it is basically a kind of global "consensus-producing machine" or "Consensus-tron" - which runs based on a fundamental meta-rule of "51% Consensus + Greed / Self-Interest" - also called "Nakamoto Consensus".
Recently, Blockstream has started trying to quietly change this fundamental meta-rule of Bitcoin based on "51% Consensus + Greed / Self-Interest" ("Nakamoto Consensus").
Instead, they have proposed a totally different meta-rule based on "95% Consensus" - which they like to call "Strong Consensus", but a better name would probably be "Extreme Consensus", to show what an extreme change it would be.
~ ydtm
https://np.reddit.com/btc/comments/4l45p1/bitcoin_is_a_giant_global_consensustron_based_on/
Every binary vote has an opposite side. 95% consensus is actually 5% consensus of the opposing team. Would you like a 5% consensus system? No? Then you wouldn't like a 95% consensus system.
That's why 50% is the only valid threshold -- because it's the only one that makes both sides equal.
~ kingofthejaffacakes
The only real threshold is 51%.
~ Ant-n
Continuing on this road , soon Coinbase and Circle will probably allow to send and receive Ether, and Coinbase and Bitpay will offer the option to pay in Ether. At that point Gregonomic fee pressure will go out of the window.
The first mover led the ground work, but it's not an exclusive advantage.
Bitcoin needs to wake up from the Blockstream-induced coma !!!
https://np.reddit.com/btc/comments/4k8c8g/continuing_on_this_road_soon_coinbase_and_circle/
This is so painfully obvious. The users do not want a "fee market". Blockstream is absolutely hell-bent on giving us one, despite there being no need for a "fee market" at this point in time. Therefore the free market will do its job and provide an alternative to Bitcoin, and the users will move to the alternative where they will get what they actually want.
~ objectivist72
Bitcoin users are speaking out, and they want bigger blocks. Compare these 2 OPs: r\bitcoin: "Full blocks DO NOT matter, what matters is transaction fees" (100 upvotes) vs btc: "Capacity problems can't be fixed with a 'fee market'; they can only be fixed by raising the blocksize cap" (200 upvotes)
~ ydtm
https://np.reddit.com/btc/comments/4kjxrb/bitcoin_users_are_speaking_out_and_they_want/
The block size issue has turned me off to bitcoin entirely, I no longer evangelize, no longer buy or use them. Blockstream has destroyed all the good-will I had for Bitcoin.
Once the block sizes are larger, and continue rising with use, I'll be interested again. until then, Bitcoin can wallow in the fail
~ jmdugan
Maxwell the vandal calls Adam, Luke, and Peter Todd dipshits
https://np.reddit.com/btc/comments/4k8rsa/maxwell_the_vandal_calls_adam_luke_and_peter_todd/
Peak idiocy imminent @Blockstream-Core? Or not yet?
~ Shock_The_Stream
Just to confirm, that is the CTO of Blockstream calling the President of Blockstream a "dipshit" on a public forum.
~ Leithm
Andreas "I believe this is called a "Mexican Standoff". No segwit no HF. No HF, no segwit. Compromise time."
https://np.reddit.com/btc/comments/4kq2dm/andreas_i_believe_this_is_called_a_mexican/
2mb WAS the compromise FFS.
~ tailsta
I thought 8MB was the compromise.
~ dskloet
Actually 20MB was the compromise. The original plan was to just remove the cap and let miners implement their own norms.
~ ForkiusMaximus
Damn fucking straight, the larger block side has been compromising for over a year and they have refused to compromise from day one.
Now is not the time to compromise, now is the time to sweep them aside as they have brought nothing to the table.
These devs shouldn't even be given the time of day considering their open contempt for larger blocks and the miners should be finding devs that will give them what they need, rather than trying to negotiate with asshats that refuse to negotiate.
~ ferretinjapan
"It's truly funny how blockstream are dead against 2mb of block data using traditional transactions along with linear signature validation... but blindly think that 2.85mb of segwit + confidential payment codes + other features is acceptable."
And also funny that their roadmap allows for 5.7mb blocks when blockstream decide its ok for the hard fork.. yet they cant explain what network bandwidth restrictions are currently preventing 2mb now but weirdly and suddenly not an issue for 5.7mb next year...
https://np.reddit.com/btc/comments/4kn960/its_truly_funny_how_blockstream_are_dead_against/
It's a matter of ego and politics. From a computer science standpoint, Adam Back wanted the 2-4-8 mb scaling originally, which would have been completely safe (and smart).
Segwit is required for the Lightning Network and some other things Blockstream wants to centralize and profit from.
No better way to get something you need in there than making it necessary for scaling and saying it's the best solution.
Segwit is a backwards approach compared to the easier and cleaner solution of increasing the blocksize
~ Annapurna317
maaku7: "I don't know anyone who is actually working on a hard fork right now (although I'm sure someone is). Keep in mind very few core developers were at the HK meeting and that 'agreement' is mostly not acceptable to those who were not there."
The Hongkong Farce. Great job Core and Chinese/Georgian 'miners'!
~ Shock_The_Stream
https://np.reddit.com/btc/comments/4k74cmaaku7_i_dont_know_anyone_who_is_actually_working/
HF will never happen unless miners switch client. The problem is miners still trust Adam & Co.
The day Mike Hearn left, he told me: "Both Adam Back and Gregory Maxwell are extremely skilled manipulators, timewasters and both of them have been caught lying red handed. I strongly suggest you just ignore both of them. I do not plan to take part in Bitcoin related discussions further".
From my experience, Adam will tell you whatever you want to hear, but do something different behind your back.
Just look at his presentations he gave to the miners and others, they are full of lies and inaccuracies. This isn't rocket science.
I just can't understand why people keep buying bullshit from a guy who's not even a core dev, but president of a company that only benefits from making sure Bitcoin itself is crippled so people are forced offchain.
~ olivierjanss
That was known opinion by Mark [Friedenbach, maaku7].
He said right after HK that it is not Core's agreement, that individual developers there were not representatives for Core.
And that the HF block limit increase is not an option.
I don't know what are miners still expecting and waiting for.
~ r1q2
Is this information being sent to the Chinese bitcoin community?
Who is doing that?
How does information like this not immediately change the ballgame?
~ 8yo90
There's more than enough developer talent in the Bitcoin space to ensure a hard fork comes off successfully, but the Core developers have divided the community with lies to make it more difficult to pull off. Instead of helping achieve it, they have created community-wide FUD.
~ Reddit_My_Life_Away
https://np.reddit.com/btc/comments/4ku44w/theres_more_than_enough_developer_talent_in_the/
My opinion is that we can't have Blockstream at all involved in Bitcoin any longer.
If you keep them involved, even after a blocksize increase, we will suffer in the future.
Similar to malware, you have to remove it.
~ mti985
This is the correct way to decide "maximum blocksize"
https://np.reddit.com/btc/comments/4kwntk/this_is_the_correct_way_to_decide_maximum/
https://i.imgur.com/UTUMSwzl.png
I'm very happy to see you researching Bitcoin Unlimited!
~ Peter__R
Mike Hearn: Bitcoin’s “Young, Unripened Democracy” Suffers Under Authoritarian Developers
https://np.reddit.com/btc/comments/4k8o7x/mike_hearn_bitcoins_young_unripened_democracy/
https://www.cryptocoinsnews.com/mike-hearn-bitcoin-democracy/
Hearn describes in the interview how people in the developer scene do not truly want the cryptocurrency to be decentralized.
“They say they want so, but that’s not what they want. Bitcoin is a young, unripened Democracy, in which a group of developers hold the power. And this group is desperately trying to prevent a real vote on the future of Bitcoin.”
...
“[They] won’t vote against Core, because [they’ve] been told voting is dangerous,” Hearn elucidates. “The miners are not per se against proposals to increase the capacity, such as something like Bitcoin Classic wants. The miners refuse to vote. At this point, some developers, including myself, lost interest, because we realized it no longer was a debate about the block size. Suddenly it was trying to convince Chinese people democracy is a good thing.”
~ Mike Hearn
Sadly, he sounds like the voice of reason in a world gone mad.
~ realistbtc
I think the Berlin Wall Principle will end up applying to Blockstream as well: (1) The Berlin Wall took longer than everyone expected to come tumbling down. (2) When it did finally come tumbling down, it happened faster than anyone expected (ie, in a matter of days) - and everyone was shocked.
~ ydtm
https://np.reddit.com/btc/comments/4kxtq4/i_think_the_berlin_wall_principle_will_end_up/
When push comes to shove, people are going to remember pretty damn quick that open-source code is easy to patch.
People are going to remember that you don't have to fly to meetings in Hong Kong or on some secret Caribbean island ... or post on Reddit for hours ... or spend hundreds of thousands of dollars on devs ... in order to simply change a constant in your code from 1000000 to 2000000.
http://38.media.tumblr.com/fa44a78d7d6f6a2e0536e611e43093a8/tumblr_inline_mjh5diUr7t1qz4rgp.jpg
PSA: when someone asks for info about a transaction getting stuck, stop saying that the fee was too low or his wallet did something wrong. The correct answer is that currently Bitcoin is broken.
~ realistbtc
https://np.reddit.com/btc/comments/4k44cf/psa_when_someone_ask_for_info_about_a_transaction/
Artificial capacity restraint by Core devs is the correct answer.
~ flamingboard
This is so true.
I mean, look at the logic.
If $0.01 is not enough, and everyone sets it at $1.00, then it is still not enough because the number of transactions at the 'higher' price is still too many and blocks are still full with transactions being ignored.
~ canadiandev
This is why I think Blockstream's mission is to hurt bitcoin.
I cannot believe that they genuinely can be so stupid to ignore this aspect.
~ usrn
The core devs (Wladimir and Maxwell) do not care about the price of bitcoin. They do not care to give investors a clear indication of what capacity will be in the near or mid future. This is contrary to the fact that everything else is known. Roger Ver is right.
Investors (Hodlers) are a large part of what makes bitcoin valuable. Without a clear indication of what capacity is going to be in the future there is no clear indication of what the worth of Bitcoin actually is.
~ specialenmity
Unfortunately, I know of multiple companies with more than 100,000,000 users that have put their bitcoin integration on hold because there isn't enough current capacity in the Bitcoin network for their users to start using Bitcoin.
Instead they are looking at options other than Bitcoin.
~ Roger Ver / ~ MemoryDealers
Gregory Maxwell (nullc) & /bitcoin have deleted my posts
They have also banned me from any discussion on their subreddit.
I was simply posting that Gregory Maxwell (nullc) is lying when he says "the Chinese Bitcoin community stands behind us".
This is false, they do not.
In fact, a respected member from the Chinese Bitcoin community said this: "Do you know that what you are doing is harming bitcoin by spreading misinformation? I'm from China. I can just tell you the common sense in the Chinese Community of Bitcoin. No one likes BlockStream now! People in China all know that it is Greg Maxwell who is blocking bitcoin by limiting block size. I dare say, your company can never develop any business in China in the future."
~ taxed4ever
https://np.reddit.com/btc/comments/4l6p57/gregory_maxwell_nullc_rbitcoin_have_deleted_my/
Jihan of Antpool, great response in regards to Chinese Bitcoin discussion on /bitcoin I was banned from:
Maxwell,
When you talking about "in fact", it smells like no fact. You are spreading very serious rumors about the mining network situation. Antpool has been connected to Relay Network and also testing a new network called Falcon after being invited. The total network orphan rate has been keeping lower and lower in the past months, which is an evidence that the network is working in a much better situation. Antpool in the past April have only 1 orphaned block, which is an evidence that there is no selfish mining situation - a selfish mining attack will generate higher orphan rate on both competitors and attackers. On the https://poolbench.antminer.link/, you can find ... the performance of a mining pool. (This is a third party site, this is fact.)
Antpool and other mining pools had made the position clear as water since in the Hong Kong meeting, that SegWit+HF [is] coming as package. If you just realized right now, ... the communication problem inside Core, you cannot blame anyone else. We will not activ[ate] the SegWit until seeing the promised (by "individuals" yes I know Maxwell could not be represented) HF code being released in Bitcoin Core. If everything is progressed according the HK Consensus, the SegWit will not be stalled. The SegWit as a very th[o]rough improvement/change [and] will need to be carefully tested and reviewed after its release, at least for several months. During which time the HF can be proposed, defined, implemented and released. While the max blocksize limit lifting can be activated later, but as the code is already contained in the release, most of the economic nodes in the network will be compatible with the coming blocksize bumping up.
Bitcoin is a worldwide economy infrastructure and it requires working together and moving forward. Greg, you need to have some self control from talking like a human flesh fascist propaganda machine, trying to attack anyone who disagree with you.
Please don't tag those concerns as "pro-altcoin". (Another evidence of your problematic speaking style.) The concerns are genuine concerns. Some of the concerns coming from people who hold very large stake of Bitcoin since early time. Bitcoin is not the only cryptocurrency in the town. I also see some small blockers are very active in the competing coin development. You cannot use this methods to distinguish people at all. Then stop judging people's intention and unrelated behavior but focus on the problem itself.
The only thing I have to add is that you can't wait for Mr. Maxwell and his company to deliver their promise. It is a toxic arrangement and we need to focus on looking past them, repairing the damage and working towards the future. When there are too many lies and scandal involved, you have to cut your losses and walk away. Investors around the world will be confident once we start making firm moves. Positive press from Forbes will help repair confidence with investors.
Either way, thank you!
We are all committed to working together.
~ taxed4ever
This is fine.
https://np.reddit.com/btc/comments/4kqdh8/this_is_fine/
http://imgur.com/KdfJI2G
~ bitkong-me
Picture characterizing the situation very well!
~ Amichateur
In successful open-source software projects, the community should drive the code - not the other way around. Projects fail when "dead scripture" gets prioritized over "common sense". (Another excruciating analysis of Core/Blockstream's pathological fetishizing of a temporary 1MB anti-spam kludge)
~ ydtm
https://np.reddit.com/btc/comments/4k8kda/in_successful_opensource_software_projects_the/
ashmoran explains why Blockstream's behavior flies in the face of the Agile Manifesto, a guide that is widely applicable to open-source software development:
https://np.reddit.com/btc/comments/4asyc9/collaboration_requires_communication/d13av94?context=2
The essence of Gavin's point reminded me of the things the Agile Manifesto was meant to address. ...
The behaviour of Blockstream is like the most pathological cases of capital-E Enterprise software development I've seen.
~ BobsBurgers4Bitcoin
Samsung Mow: "@austinhill @Blockstream Now it's time to see if Greg Maxwell is part of the solution or the problem."
~ Egon_1
https://np.reddit.com/btc/comments/4kipvu/samsung_mow_austinhill_blockstream_now_its_time/
Not enough popcorn in the world for this.
~ kanaarrt
Samson Mow is part of the problem.
~ Domrada
Chairman Mow can be a very annoying creature
~ hiddensphinx
He makes bad choices, he's unprofessional, he's cost us money, the list goes on and on.
~ mfkusa
Trouble on the home front.
I don't think Greg has it in him to "give in"; he has to be "right" at all costs.
~ buddhamangler
This is what I'm hoping, as, "giving in" will mean he'll walk away from Bitcoin.
~ ferretinjapan
Why is it not recognized that ANY block size limit is a hack on a hack
Bitcoin will NOT work right until the size limit hack is removed entirely. The limit is being leveraged to justify many actions. All of which would be moot if the limit did not exist.
https://np.reddit.com/btc/comments/4kbcaa/why_is_it_not_recognized_that_any_block_size/
You're absolutely right. Miners have always regulated the size of their own blocks and still do.
We see it in the form of excluding zero-fee transactions, SPV mining, spam filtering, etc.
They will do the same without a limit.
All in the name of maintaining profitability.
~ cypherdoc2
It's true that almost every single argument Core makes for limiting the blocksize, if correct, should be what the miners/investors would do anyway if left to their own devices.
~ ForkiusMaximus
submitted by ydtm to btc [link] [comments]

[uncensored-r/Bitcoin] Jeff Garzik: “Today, bitcoin faces existential threats from forks, developer drama and so on. Kno...

The following post by readish is being replicated because some comments within the post(but not the post itself) have been silently removed.
The original post can be found(in censored form) at this link:
np.reddit.com/ Bitcoin/comments/78kg89
The original post's content was as follows:
...oh, so that explains it.
The old and effective Problem-Reaction-Solution strategy. Well, effective before the current social media era, in which hidden motives can be brought to the light of day to be exposed.
I will keep posting this until the very day of the fork, with the hope that more bitcoiners learn the true nature of S2X/B2X/NYA open attack on Bitcoin disguised as an "upgrade". This is a 2X Trojan Horse, and do you know who is inside that horse? Top level banker's special-forces like Blythe Masters, Larry Summers, Glenn Hutchins (sits on the board of The Federal Reserve Bank of New York) and DCG (Digital Currency Group).
We need to keep our efforts to expose and inform people about what S2X/NYA/DCG really is. Don't trust and don't do business with these companies and individuals supporting the S2X attack on Bitcoin.
Companies:
https://coin.dance/poli
http://segwit.party/nya/
Individuals:
Those guys are pure greed, they don't care about the 7 billion of people on this planet. Expose them and don't give them your business. Starve the beast. They will regret sticking with the B2X altcoin that will go the BCH way (and all the other highjack attempts before them). Moneybadger don't care and only gets stronger and immunized after each snake-bite.
Actually >99% of the Bitcoin community supports the real Bitcoin. The centralized B2X-coin attack is only supported by a handful of rich crooks and the people they've managed to bribe with their deep pockets:
Brian Armstrong, Fred Ehrsam (ex-Goldman Sacks), Bobby Lee, Winklevoss brothers, Peter Smith, Nic Cary, Haipo Yang, Rick Falkvinge, Jon Matonis, Wences Casares, Tony Gallippi, Mike Belshe, Ryan X Charles, Brian Hoffman/Sam Patterson/Chris Pacia (and all OB1 team), Gavin Andresen, Jeff Garzik, Mike Hearn, Roger Ver, Jihan Wu, John Mcaffe, Craig Wright, Barry Silbert, Larry Summers, Blythe Masters, Stephen Pair, Erik Voorhees, Vinny Lingham, Olivier Janssens, Jeremy Allaire, Peter Vessenes, Bruce Wagner, Brock Pierce, Aaron Voisine/Adam Traidman/Aaron Lasher (Breadwallet team), Glenn Hutchins, Bill Barhydt and Jiang Zhuoer.
I posted this 18 days ago:
Exposed: How Bankers are trying to centralize and highjack Bitcoin by buying "supporters" and promoters (like OpenBazaar team) for the B2X (S2X/NYA) attack on Bitcoin.
TL;DR: B2X (S2X/NYA) is nothing more than an open attack on Bitcoin, not an "upgrade" as they want to sell it. This attack has no 'consensus', at all. It was "agreed" by a bunch of miners and corporations behind closed doors, with no community nor developers support. Only miners and a few millionaires that stand to profit from the B2X attack support it. The vast majority of the Bitcoin community is totally against this attack on Bitcoin. Most of those companies are under DCG group:
Every bitcoiner should know about what DCG (Digital Currency Group) is, and call out publicly the people that are working for the Corporations/Bankers against Bitcoin.
Edit: Brian Armstrong back on the list for this flip-flop. And added Winklevoss Brothers for this, and Bobby Lee for this.
submitted by censorship_notifier to noncensored_bitcoin [link] [comments]

The Bitcoin Phenomenon Crypto Scams? Coin Starter, and Aurora Mine Bitcoin Price Analysis 2017 Trace er Bitcoin - YouTube Fred Ehrsam founder of Coinbase talks Bitcoin

[ August 21, 2020 ] Bitcoin Cash, Algorand, Zcash Price Analysis: 21 August Altcoin August 21, 2020 Home Coinbase Bitcoin and Crypto Broker Coinbase Preparing to Launch Its Own Token, Hints Co-Founder Fred Ehrsam In einem 2500 Wörter langen Post hat Fred Ehrsam, der Co-Founder von Coinbase – einem der größten Blockchain Startups – hart mit der “stagnierenden” Bitcoin Community abgerechnet. Laut ihm kann man sagen, dass diese durch die innovativen Köpfe hinter Ethereum in den Schatten gestellt werden. So sieht Fred Ehrsam, ehemaliger Händler von Goldman Sachs Inc. und Gründer des Bitcoin-Startups Coinbase, für unterfinanzierte Schürfer schwarz. “Das ist eine ziemliche Modeerscheinung, die ... *03,24,2018* 4:3 :: Bitcoin Miner Usb. Bitcoin mining group " Bitcoin exchange rate chart history " Bitcoin mining from iphone " fred ehrsam Bitcoin " Bitcoin ohne anmeldung kaufen " 1 Bitcoin equals to rupees " hd 5670 " Bitcoin lawyer " Bitcoin mining zebpay " free Bitcoin betting " Bitcoin ifttt " program for Bitcoin mining " Bitcoin legitimate use " Bitcoin apple app store " Bitcoin mining ... Jun 30 2017 by Wealthy Miner No Comments. Coinbase Co-Founder Suggest Off-Chain Scaling Approach for Ethereum . ETHEREUM. Fred Ehrsam, former Goldman Sachs trader and co-founder of the billion dollar Bitcoin startup Coinbase, laid out several scaling issues of Ethereum and the necessity of off-chain scaling solutions to scale the Ethereum network. According to Ehrsam, seven major scaling ...

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The Bitcoin Phenomenon

Coinbase was founded in June 2012 by Brian Armstrong and Fred Ehrsam.[6][7] Blockchain.info co-founder Ben Reeves was part of the original founding team but later parted ways with Armstrong due to ... Bitcoin news for the week of Jan 23rd with your hosts @theonevortex @sharkybit @ARKblockchain and special guest Joel Monégro from Union Square Ventures. Questions for Joel: -How did you get into ... Fred Ehrsam founder of Coinbase talks about the potential of Bitcoin. Interesting interview with Trace er providing Bitcoin price analysis in the light of upcoming block reward halving. 2017. THIS IS AN EXTRACT FROM ORIGINAL VIDEOCLIP THAT CAN BE FOUND. Interesting ... This Bitcoin documentary looks at the history, the ideologies, and the conflict between the politics of the early-adopters and the VCs/entrepreneurs pushing to take Bitcoin mainstream.

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