What I don’t understand is how Bitcoin can ever function as a currency when the small size of the packets slow down transactions per second. Am I correct in that Sitoshi meant for the packet size to scale up with the volume but big bank infiltrators infected the controlling board of Bitcoin and changed the plans for scalability by diminishing it. Their answer to the transaction/sec problem was the lightning network that takes incentive away from the miners.
I’ve read and seen live Bitcoin transactions/sec and it’s terribly slow. Supposedly there was one break away from the infected body in control of Bitcoin and that person solved the scalability problem by advancing Sitoshi’s original plan to scale up packet size increasing Transaactions/sec. This person is the backer of Bitcoin cash.
The way I understand it, and that’s not saying much because I have not spent much time digging, is that Bitcoin is and will continue to be a good storage of wealth, similar to gold, due to its limitation causing rarity but not good as currency. Supposedly Bitcoin cash is the superior candidate for a currency.
Trump finally vocalizing support for Bitcoin has me thinking of Lt Gen Jason Lowry and his book SoftWar in which he posits that Bitcoin should be used as a weapon. When you couple Lowry’s ideas with Lt Gen Kwast’s revelation that there is current technology to harvest solar energy in space where there is no atmosphere to degrade the harvest. Efficiency jumps from 20% here on earth to 80%+ in space. He also says they can convert all this energy to radio waves, send them down to earth, and then convert them back to electrical energy. Now throw in Trump’s latest comments about supporting Bitcoin miners and energy dominance and guess what you’ve got? A recipe to use Bitcoin as a weapon to dominate the globe through extreme energy production and using that energy to mine Bitcoin. They will literally, with the help of AI, turn our national electrical grid into a giant living computer to mass produce Bitcoin.
I’m just spitballing with all this. I’m not sure I know enough for any of it to be possible.
Doing BTC research by combing GAW for posts where the returns are far better than from search engines.
You're assessment looks good from what I've learned. I keep reading of a permanently limited block size, but my almost 50 years experience with software tells me that nothing in software is permanent -- flexibility is it's strength, and in so many ways it's curse. Do you have any insight on this point?
Not my words but what you’re asking for and links at the bottom…
There is a problem with Bitcoin that no one ever talks about. Some major events happened in 2017 that a lot of people did not understand or pay attention to, but completely changed the course of Bitcoin's history. At the time I was following development news, learning and reading as much as I could about the tech, attending conferences, meeting other people who were excited about it, and at the time everyone largely understood that Bitcoin's purpose was to destroy the fiat system by limiting the total supply of coins that could be created.
I watched petty drama unfold into a full blown hostile takeover as a regime formed within the dev community that did not allow discussion of any scaling solution that continued the original design of peer-to-peer electronic cash. There was a focused effort to drill into the minds of the masses that it wasn't possible, and insisted that the only scaling solution was to add additional layers creating more complexity and incentivizing third-party custodial services.
Bitcoin reached its full transaction capacity due to an artificial 1MB limit of the block size and the Bitcoin Core developers argued that it could not be increased without destroying decentralization (because 2-4MB every 10 minutes is supposedly too much for a home computer to handle), did not even allow discussions of increasing it. Well, despite the BTC side's protests, a fork did occur in August 2017 and a new branch of Bitcoin started called "Bitcoin Cash" or BCH, with a higher network capacity (now 32MB).
There was a heavy smear campaign against BCH calling it a fraud and a scam that lasted years. Censorship is still going on to this day in the official Bitcoin subreddit and forums regarding increasing the block size. Anyone who figures out this problem is labeled a troublemaker and kicked out, shadowbanned, etc.
So for anyone reading this, I suggest reading up on this history, because the problems with Bitcoin today are many, and I believe it's being setup as a Trojan Horse operation which the cabal will use to trap people in thinking they have found financial freedom, then the price will crash on its own just like in 2017, because the network is still limited in capacity, fees will be so astronomical that no one will be able to use it unless it's through approved custodial services.
I've always thought since the first major crash in December of 2017 from 20k, that was the start of them gaining full control of the BTC market. It's only a matter of time before it happens again. The root cause of that crash was the small block size which drove up transaction fees to the point Bitcoin was seen as a failure. Transactions were stuck for days or weeks unless you could afford $100+ fee. That was done so they could justify pushing everything onto a second layer and say the main chain was just going to have high fees and if you can't afford it, tough.
What I don’t understand is how Bitcoin can ever function as a currency when the small size of the packets slow down transactions per second. Am I correct in that Sitoshi meant for the packet size to scale up with the volume but big bank infiltrators infected the controlling board of Bitcoin and changed the plans for scalability by diminishing it. Their answer to the transaction/sec problem was the lightning network that takes incentive away from the miners.
I’ve read and seen live Bitcoin transactions/sec and it’s terribly slow. Supposedly there was one break away from the infected body in control of Bitcoin and that person solved the scalability problem by advancing Sitoshi’s original plan to scale up packet size increasing Transaactions/sec. This person is the backer of Bitcoin cash.
The way I understand it, and that’s not saying much because I have not spent much time digging, is that Bitcoin is and will continue to be a good storage of wealth, similar to gold, due to its limitation causing rarity but not good as currency. Supposedly Bitcoin cash is the superior candidate for a currency.
Trump finally vocalizing support for Bitcoin has me thinking of Lt Gen Jason Lowry and his book SoftWar in which he posits that Bitcoin should be used as a weapon. When you couple Lowry’s ideas with Lt Gen Kwast’s revelation that there is current technology to harvest solar energy in space where there is no atmosphere to degrade the harvest. Efficiency jumps from 20% here on earth to 80%+ in space. He also says they can convert all this energy to radio waves, send them down to earth, and then convert them back to electrical energy. Now throw in Trump’s latest comments about supporting Bitcoin miners and energy dominance and guess what you’ve got? A recipe to use Bitcoin as a weapon to dominate the globe through extreme energy production and using that energy to mine Bitcoin. They will literally, with the help of AI, turn our national electrical grid into a giant living computer to mass produce Bitcoin.
I’m just spitballing with all this. I’m not sure I know enough for any of it to be possible.
Im glad I read that
Doing BTC research by combing GAW for posts where the returns are far better than from search engines.
You're assessment looks good from what I've learned. I keep reading of a permanently limited block size, but my almost 50 years experience with software tells me that nothing in software is permanent -- flexibility is it's strength, and in so many ways it's curse. Do you have any insight on this point?
Not my words but what you’re asking for and links at the bottom…
There is a problem with Bitcoin that no one ever talks about. Some major events happened in 2017 that a lot of people did not understand or pay attention to, but completely changed the course of Bitcoin's history. At the time I was following development news, learning and reading as much as I could about the tech, attending conferences, meeting other people who were excited about it, and at the time everyone largely understood that Bitcoin's purpose was to destroy the fiat system by limiting the total supply of coins that could be created. I watched petty drama unfold into a full blown hostile takeover as a regime formed within the dev community that did not allow discussion of any scaling solution that continued the original design of peer-to-peer electronic cash. There was a focused effort to drill into the minds of the masses that it wasn't possible, and insisted that the only scaling solution was to add additional layers creating more complexity and incentivizing third-party custodial services. Bitcoin reached its full transaction capacity due to an artificial 1MB limit of the block size and the Bitcoin Core developers argued that it could not be increased without destroying decentralization (because 2-4MB every 10 minutes is supposedly too much for a home computer to handle), did not even allow discussions of increasing it. Well, despite the BTC side's protests, a fork did occur in August 2017 and a new branch of Bitcoin started called "Bitcoin Cash" or BCH, with a higher network capacity (now 32MB). There was a heavy smear campaign against BCH calling it a fraud and a scam that lasted years. Censorship is still going on to this day in the official Bitcoin subreddit and forums regarding increasing the block size. Anyone who figures out this problem is labeled a troublemaker and kicked out, shadowbanned, etc. So for anyone reading this, I suggest reading up on this history, because the problems with Bitcoin today are many, and I believe it's being setup as a Trojan Horse operation which the cabal will use to trap people in thinking they have found financial freedom, then the price will crash on its own just like in 2017, because the network is still limited in capacity, fees will be so astronomical that no one will be able to use it unless it's through approved custodial services.
https://txstreet.com/v/btc-bch
https://www.youtube.com/watch?v=eafzIW52Rgc
https://www.youtube.com/watch?v=UYHFrf5ci_g
Again, not my words…
I've always thought since the first major crash in December of 2017 from 20k, that was the start of them gaining full control of the BTC market. It's only a matter of time before it happens again. The root cause of that crash was the small block size which drove up transaction fees to the point Bitcoin was seen as a failure. Transactions were stuck for days or weeks unless you could afford $100+ fee. That was done so they could justify pushing everything onto a second layer and say the main chain was just going to have high fees and if you can't afford it, tough.