The m is a hard cap. A hard cap and a hidden cap is totally 2 different things. And if you think they can get m in 1 hour that means its a large project and you just mad they're raising a lot of money. Many popular forums ultimately become corrupt, unfortunately:(eg: Something Awful, Bitcointalk, Digg, NeoGAF, Reddit. It's the nature of net forums I guess. Get too big, collapse under your own weight, something new and shiny comes along to take it's place, eventually. Bitcoin Discussion General discussion about the Bitcoin ecosystem that doesn't fit better elsewhere. News, the Bitcoin community, innovations, the general environment, etc. Discussion of specific Bitcoin-related services usually belongs in other sections.
Sjw bitcointalkForum Classification Project
A month later I had sex with the dude who was carrying me off the night I was drunk and incapacitated. So I basically had sex with my wannabe rapist. This guy was only ok-looking but he had crazy-good game. He was cheeky and a great conversationalist and he could charm the habit off a nun if he wanted to. My very first. A loser wanna-be Neo-Nazi. Who was 15 years older. He drove a pick-up truck, was a hard drinker and a tough guy.
We drank and fought constantly then had really rough sex. Alarmed, I started snooping a little more and discovered that yep, I was fucking a white supremacist. How many times have we said that girls like bad boys? How many times have we warned of the results of unrestrained hyergamy? Do people understand now that being a nice, beta provider is about as obsolete as the horse-drawn cart or the cassette tape?
This brings us to the question—who is to blame here? Obviously the guys themselves are acting like scumbags, but hey, if something works—it works. Your average man will go to the ends of the Earth to bed a pretty lady. But do we apportion equal blame here? Or should the women take some responsibility for their behavior? Any Jezebel writer would demand men bare the onus of restraining themselves when it comes to physical violence.
It follows that it is our responsibility to maintain law and order in our society. It would be ludicrous to insist a five-foot-two girl should defend herself against a six-foot, knife-wielding mugger. Biological differences cut both ways however, and the opposite is true when it comes to sexual restraint.
Studies across the board show that men desire sex a great deal more. If you sleep with arrogant, dumb jerks, men with no jobs, principles or prospects, ones who will never make good fathers, that is what men will become. When crypto is needed, it will be too late for most people to afford buying in. But, they will buy in anyway.
Until then, it could have already happened years ago. The crypto gold rush should already have happened. We're not even close. Every time a modern mechanism of crypto starts to grow, a stupid idiotic massively insulting hack or scam happens and it is the only thing a few news cycles include about crypto.
There is plenty of proof why no one should bother being in crypto. But, there are a few really good reasons for it. At the top of everyone's list should be earning money. What you do with your money is how you express your ideals. We want crypto to catch on, because it will go up in value, and one of those projects is something you are knee deep in.
Even worse, a lot of us who started a serious conquest in crypto got burned in , and perhaps again in We not only want mass adoption, we kinda need it.
So, mass adoption is not going to come from your hodls, it is not going to come from the Freddie's method of support, it is not going to come from the 5 things you can buy online with Bitcoin Cash aka Crash, and it is not going to come from buying your ridiculously bitter tasting over-priced latte thingy from Starbucks. All of these are cool.
All of them are a tiny help for a blip in the cosmos, but they will not bring mass adoption. Let me further this. Microsoft is in. Starbucks is in. WalMart is already in. The top banks are in. Amazon is in. Everything you can think of that is huge news is already in place.
Even the stock exchanges announce crypto. No one gets it, everyone thinks it is imaginary and will steal their funds, and honestly they could be right. But, we believe, right? You can argue every other point and it will not help a thing.
I am not playing favorites or sides, but I'm going to give you an example. And, by the way, I am writing this entire manifesto from off the top of my head, but my research is solid.
I am intentionally not giving any credit or links anywhere, because I want you to do your own research. That also means I am not direct quoting anyone or stealing any words from any other source. Okay, there's this guy Richard Heart, who created Hex.
Maybe it is a scam, maybe not. We will know in a year, in 5 years, in a decade, or we will never know. He is very smart, put his own money in, had the code tested, the economic model tested, and launched. It is designed to gain value in the thousands and thousands of percentage points by locking and staking coins and holding them long term, and as one holds and invests, it destroys the future coins of people who have yet to enter.
So it actually leans on the economic pressure in our Freddie example, but places good sound principles in this. In a better Freddie's world, this model increases visibility and gets more people buying soda pop, and the demand does in fact drive up price. This reaches an extreme when it is both popular AND scarce at the same time. There are zero guarantees that Hex is or will be worth a darn, even though it already pumped some at market.
It could crash to 1 Sat tomorrow. Who knows. The point is, most of us know about Hex because we follow crypto. Go ask your non-tech-savvy mother's friend about Richard Heart. She has no clue. What the absolute flip is that going to do for mass adoption? Listen, buddy, if I had more money to put into crypto, I would do it. I know where to spend, and how to churn that into more money with zero flash and no margins. But, despite being a fairly smart person, I have not found the power to reach outside the crypto world and change the world.
You and I together, embracing the purpose of this manifesto, could make a difference. People will say, with ignorance, don't tell us the problem unless you have a solution. DUDE, isn't it obvious? Liquidity comes from cautious, well-educated trading to whatever capacity someone develops the skill. The good choices have still been hacked, lost your KYC, and are chicken when it comes to standing up for our rights against government intervention.
We should have the right to lose our money wherever we want. But even better, we should have the right to trade out in the open without the fear of being taken advantage of. The only time the law should intervene is when there is a hack, and they should care as fast as a Madoff makes off with our crypto.
More on that later. Also, how does spell check not know who Bernie Madoff is? Not everyone is brave enough to join, kyc, load thousands of dollars into crypto on an exchange. I get that. It needs to be better. It needs to be safer. But, volume is required to get attention from the outside world. Next, projects need to recognize their correlation from project value to market value. I am a self-proclaimed expert consultant on this.
Because the crypto kids with their multi-million dollar projects don't have a clue about economics. They know code, they know cool things about snarkyjarky crypto crap I can't learn fast enough before I forget it, they are absolute geniuses beyond compare, but they do not get a single thing about money; real or fake. Even the scammers that steal money from crypto and convert it to fiat don't have a clue about money.
Well, maybe a few people, but they are only pandering to other crypto fans as well. Listen, I'm almost as guilty as the rest of them. I'm writing this here, aren't I? I only know about this site because they offered to give me a little crypto.
Now, I'm impassioned because I care about something that needs to happen. When projects listen to consultants like myself, they can discover their weaknesses in getting the word out to the crypto community and outside the crypto community. Got a great idea about fast free transactions that can save the banking planet?
Why isn't everyone using it? Who cares if you upgraded the blockchain? Not anyone who doesn't own your coin! That's who. Who out 'there' knows you exist? No one. Because if they have not heard of Bitcoin, they also have not heard of Bitcointalk or CryptoTwitter. So, how are they going to choose you over Visa, smarty? That is the frustration here.
These crypto project leaders are geniuses. They are so much smarter than the rest of us. But, they really cannot answer anything about what brings value to their coins, so therefore they do not know how to translate this to market. Want to tokenize Bit torrent? It's almost worth nothing. Millions and millions of dollars of nothing. Want to put a picture of a dog on a fake token? Here's 2 billion dollars for you to do nothing with, because the only value you bring to the crypto world is the preservation of an old meme.
As long as people like dogs, people will be dumb enough to buy your coin. And, I support this! Buy it if you like it! But, if you tell 1 million people about Doge, it will probably not change the market price at all. It will go up, come right back down, and it will get pushed around by the big bully Bitcoin. Don't believe me? Show me where 2 billion dollars of volume in Doge has grown the value of Doge?
It is a bad economic model, and until it is improved, people are just spending to spend. One of the most successful crypto projects ever is ETH. In truth, once it continued beyond ETC and those issues, it should have overtaken Bitcoin.
ETH is designed to bring value and technology for other coins and smart contracts that truly can revolutionize finance forever. It probably won't, but models of ETH will be utilized by evil corporations and that will change a lot of things for sure. So, it actually proves my point that no one in crypto knows money, purely by the fact that one of the most expensive coins in crypto, is not designed to pump, but it does exactly in a positive and negative correlation to Bitcoin, because that is where people place their faith in coins.
Secondly, those who do think they get it, base their ideas on closed market systems. I don't wish to get political, but it is telling the truth to say the better parts of capitalism are not modeled in crypto. They can be. To an extent they are exploited for this use, but overall, crypto needs a marketing and promotion plan, and everyone is so focused on the code and hodling, they forgot to tell anyone it exists. True mass adoption comes from telling all of the other investors that they need to get over here in crypto land and trade this stuff.
Therefore, for mass adoption, exchanges need the fear of God placed in them to be honest, have stellar not XLM security, fair protection of our KYC data we never should have to share, and to work their body parts off to give us amazing liquidity.
But, thus far, it sucks worse than anything ever, and people get burned over and over. And, stop blaming the victims already; it sounds ignorant and I'll tell you why soon. In the crypto news; Bitcoin went up on the great news that "x" is going to start using Bitcoin for payments. In the crypto news; Bitcoin went down because the President of "fill in the blank country" said there was going to be sweeping legislation. Crypto goes up and down because speculators who have large sums of money pump and dump crypto on the exchanges.
I have yet to find a single example in crypto news, where an event happened first, that then caused the price of crypto to change after. There is intentional shill news when a group pumps a coin, and there is grasping at straws to find a correlation to price and events. It doesn't exist. Now, a fair counter-point. When something is truly drastic, it does sometimes cause small adjustments in crypto.
If something truly significant happens with semi-conductors or oil, for instance, sometimes people exit out of industry value to buy into crypto, let it sit, then wait for the dust to settle and buy back in. But guess what, hardly anyone ever reports that. People look for reasons for the things they cannot understand. But, the news does an awful job representing this in crypto. There simply aren't enough people trained how to think in this world. It is, again, true. We have all spun information that later turned out to be bull in a bear market, and we should all learn from that and stop it!
News follows pumps and dumps as a desperate way to try to explain how something everyone believes in could possibly be so fragile and so susceptible to manipulation. Learn to accept it now, or the regulators are happy to change it for you later. Sure, it is sort of true. But, there is a blame-the-victim mentality adjoined that I strongly take issue with.
I will cover that part in the next topic but you are already angry at me for disagreeing. So, let me make my point that will fall on your deaf ears, but maybe it plants a seed and you get it later on. Most likely not. You think that you can buy Bitcoin and store it safely on your private wallet where only you know the way to get in.
That makes you a true crypto idealist. But, did you use open source to code your own wallet where you store your coins? Almost no one does. So, you are using one of the freely available wallets?
What if THEY are a scam? Why are you better than a person who trusts a wallet on an exchange because you wrote your keys down? There can essentially be zero difference between the team who makes a wallet and, by the way supports the project through donated coins and also running advertisements, paid swap options and other features and the team that places themselves at serious legislative and legal scrutiny by coding an exchange.
Listen, I DO get it. But, one of the smartest, safest things a person can do with their crypto, is trade it for very low fees, into other very valuable crypto, using changes in the market to build their wealth.
If you buy a coin and let it sit in a private wallet, you trust that code with your wealth, and you earn zero interest in the process of doing so.
A favorite quote to me comes from the show West Wing, which I don't always join in the political perspective, but I love great writing and acting. The President shows disdain for James Bond, because he is ordering a weak martini and he is being snippety about it. It is a great moment in script writing. It is great advice for every crypto novice. But, it is like blaming the victim in every other use case. If you link your private wallet up to a DEX and trade coins with someone else, and there is a time-out, an error, someone's machine gives enough data to start confirmations but the price changes dramatically and you wish you could reverse the decision, or they are basing their market choice on a position that has timed out and they didn't notice, these are very challenging technical things that can go wrong.
You screw that up, who are you supposed to blame? The other party no one knows, and no one could ever track down for you, because the whole thing was anonymous and immutable you freak? No, that is not possible. It isn't going to help you! Plus, did it take forever? Is there any tech support if you screw it up?
Sorry, you are now a victim of the crypto dark ages also known as DEX. So, you need volume and liquidity and want the very best exchange for your needs. You barely get started and run into a tech issue and get help, and it is wonderful. You trade for 2 months and then they steal your funds without any warning. Yeah, I'm talking about ZJ of FCoin and sadly basically no one has even the smallest clue what is actually happening.
It is a tragedy of crypto. There are people who did the right thing; believed in crypto, and they got punished for it by getting robbed. Some people are scared to tell their families. Some people have lost everything. No one seems to even know or care.
There should be go fund me projects to helps us, the victims of FCoin. But, guess what is said instead, like some brilliant parrot that got access to your fiat: "not your keys, not your coins". What an incredibly stupid thing to say. Who says that if you have the keys, there isn't a bug or a virus on the wallet code?
If that does happen, would you like all centralized exchange users to blame you for not having technical support? But, you are not better than any other person because you are choosing code spit out by a stranger, that works when you test it. You can get messed over by a wallet just as easily as Justin Sun could go to jail for being an idiot. I could get taken by an exchange by real people with real credentials. Anyone can do anything bad to anyone at any time. Does that make you a fool if you are one of those victims?
I know a LOT about crypto. I have some funds that were taken that I may never get back. I did my research and still got burned. I hope it never happens again.
It is a terrible feeling. No one offers consolation. They just said "blah blah blah not your keys, not your coins" like an evil parrot that doesn't understand the words, but likes the way they sound. But, I am an incredibly gifted day trader. I do not believe that DEX will be friendly to my talents for a year, 2 years, maybe even 3, and likely never.
I also believe that all private wallets will require KYC, as will all platforms to and from crypto. If you got in early, and have a lot, and hold it a long time, you are among the few thousands most likely to get your coins out of harm's way into reliable, good ole' fiat; you know, that stuff you hate so much. But, we can all hope it really does not come to that. If the crypto-apocalypse doesn't happen, it will only be because the evil banks and wealthy elite get more from manipulating the crypto markets than by stomping them out.
Pure fear and greed are the only true protectorate of our crypto; not keys, not DEX, but wealthy greed afraid of missing out. Okay, and never leave your money in the bank, and never own a credit card, and never buy gas at a gas station. Now you are safe, but lonely, starving and need a ride from someone.
If smart contracts were used to place buy and sell limit orders ON the blockchain, which are fulfilled when a price mark is reached, then problem solved. Sounds perfect. I'll do that 3 trillion times per day if I can. But, I can't. Because the whole crypto world is modeled on everything that is wrong with the other financial world.
Remember my gripe about economics? The exchanges are the casinos and people fall for glitter and shiny crap, while ignoring the true value of limit buys and sells only with what they can afford. I would prefer undeniable security of funds over owning the responsibility of my own keys, if I am going to try to build my wealth with a few thousands trades into millions of dollars.
You think that can't happen to the very best example of a crypto lover? You remember the day a few months back where CryptoTwitter lit up because a mandatory upgrade of a hardware wallet screwed up everyone's balances for the lucky ones, and gave zero access to everyone else?
Yeah, it got fixed. But, it could have gone the other way, and probably will some day. Should they be able to roll back blockchain, or should it be immutable? Did you ever even think about it until now, or just churn out the same talking points as everyone else?
I really want to know. If you are a scalper, a day trader, you represent the most ideal user of crypto. The only higher ideal is to make a better coin.
If you do not leave funds on an exchange, it means you risk larger profit margins than anyone can be accurate with, and you should not trade at all. Because it costs money to withdraw funds, and you are suggesting that every single time a person makes a successful trade, they should move that, or some of that, back to their private wallet.
So, they can never grow enough wealth to validate the time and accuracy it takes to be right in crypto? Again, that is just ignorant, it truly is. They are doing just fine.
For the rest of us, DEX is crap with a lofty idea, and central exchanges are the Anti-Christ but they can improve. We all have a better chance with safe, smart, massively liquid central exchanges than we do with our own private wallets who cannot support you when you screw up, and the coders could be just as wicked as those who run exchanges, and who also will require KYC the split second the government requires it.
I hate that being the case, but it is true. The only way to avoid these issues and stay private in your wallets, your keys, is to use swap exchanges that do not require you to sign up, and take advantage of moments in the market.
They are extremely high risk, and for the time of the transaction, they are centralized. There will be fewer of these options if regulation does what I think, but exchanges are catching on to the desire to swap, and offering more services like this. But, it is a good option for the idealist who doesn't understand money but wants to take good advice. If something goes wrong in a swap, there is limited tech support, which is better than no support when you need it the most.
You can go from private wallet to private wallet and get a trade done. You just have to be right the entire length of the transaction, which can be 5 minutes or 5 hours. Your risk, sometimes backed up by a locked guaranteed value by No one can take your coins if you keep them in cold storage, safe hardware, safe software and remember your codes or keys. Not true. I want it to be true, but if you wake up tomorrow, and your wallet will not allow access to your funds until you fill out KYC, tough tooties.
If you drop your hardware wallet cold storage ideal plastic stick dongle, you are going to feel incredibly stupid if it breaks and you can't get your 20 BTC. Maybe there is insurance and issuance to get you access to your funds via the company, via software etc.
Probably so. But, listen carefully, that means you trusted a 3rd party to make your storage device, and you are trusting them to help you recover it. People get me so riled up not understanding this. We are all on the journey, and in the same boat. You have your ideals, I have mine. But, we are all trying to make it in crypto, and so few people know how to think for themselves it is laughable, except it should lead us to more tears.
We all want crypto. We all need crypto to work. Stop pretending you know better than everyone else. We need better options. Sure it can. Why would you think that? If you are in a wallet, you can lose access to it if your country goes that direction, and the wallet provider is threatened to comply or go to jail.
You think these invisible parties are your friends? They aren't. Some examples I guarantee are kids in their parent's basement who threw some code together and people thought the UI was nice, and if they get in trouble and the folks take away their computer, you lose updates to your wallet. Prove to me I am wrong! You simply do not know! Now, you may heed this warning and go find out everything there is to know about xyz wallet and feel a little safer at night, but again, we are on the crypto journey together.
Stop thinking nothing could ever break crypto. It can happen in a split second and there is nothing you can do about it. It probably won't happen that way, but until people start realizing we are in the same risky endeavor, this crypto thing won't remain in our hands for long. Ask anyone in China how easy it is to lose the rights to their crypto. You think that Bitcoin is more stable the the dollar?
You're triple nuts with cheese, and you also really better be wrong. A lot of that is going right back into the economy. When someone is really bad at trading and they lose all their crypto value, they don't come back. It isn't because they stopped hoping for crypto, but it is because they do not have enough left to give value to their fiat. Fiat is king and likely will stomp crypto for a long time.
If fiat goes away, it means China's coin will be top billing, followed either by Russia or the U. Now everyone can track everything everywhere all the time. Welcome to the technocracy nightmare likely to come eventually.
Is that what you wanted, or did you prefer Doge? Yeah, me too. So, stop thinking that buying crypto is robbing the banks and eventually you will stick it to evil rich people. You think the only people with more Bitcoin than you are the first year miners? No way! You think that institutions are letting brokers trade billions of dollars of crypto, so much so that now banks are investing in their own blockchains, because they are going to empty their funds out of the unFederal noReserve?
It does not work that way. If there is no value left in the fiat, then it would cost Bitcoins for a pair of shoes, and I am not kidding. Again, if you don't understand economics, stop being so pious about your crypto rules and learn why all of this stuff matters. I want everyone in crypto to succeed who isn't trying to scam someone else. I don't care if we vastly differ on what coins are good and which ones I would never touch because I dislike the slimy ideals they represent.
But, I believe we all should be able to make that decision. If crypto succeeds in trampling fiat, say goodbye to all control and wealth that exists, and be proud you contributed to the fall of man. Bitcoin mining is not energy efficient. But, the solutions are incredibly easy and most coins will resolve this with increasing efficiency.
The real question is whether anyone can bring a better formula to mining, because faucets and cloud mining are not helping at all. Bitcoin is inefficient, but if you compare a Bitcoin farm to Las Vegas, I think we have bigger problems. And, energy use itself can become much more efficient. So, I don't take on the premise that Bitcoin is to blame for climate change.
That isn't really the case either. It needs a better model, and so does the generation of electricity. This is a problem that miners are not in the right category to fix. Unless code can reduce energy use, which it can, it doesn't lower the requirements of the gpu's required. In fact, you are better off stressing out NVidia or whoever makes the stuff needed Not my area of expertise. But, that is exactly the point. Bitcoin is the biggest.
Bitcoin is the greatest. But oh oh oh Improve the wheel, but keep the wheel in the format. It works, it just needs to work better. It isn't killing the planet, but it could sure do a better job. There will be a single cryptocurrency that wins out above all others, and the entire world will be using that in the year Who says crypto makes it to , let alone ?
The level of idealism behind this thinking goes so far beyond any measurable model, my real hope here is for people to look at the short term, a little history, and make logical assumptions. They will lend, liquidate, and put as many shiny contests up for you to get distracted by as it is possible. DEX will slow things down, bog down the chains, and in the end improve trading by almost no degree.
People will hodl when they should trade until something like Libra or a few steps further puts the pressure on governments to say "halt! If there are national stablecoins issued, there is an even chance they either can, or are required, to be used for trading, or they won't If we use independent stablecoins, they will now be competing with the real government issues, and the past has made one believe they will force exchanges to stop allowing trading in that format, either by replacing it with the real government coins, or shutting down trading all together.
If any of this happens, it will not be legal to own privately stored coins. It just won't. It has been done with fiat, it has been done with gold, and it won't be any different in crypto. But, perhaps we have years. Perhaps we even have decades. The best thing that can happen to crypto is that governments realize they get more for their greed IN crypto, then they get fighting against it. But, tell me a time when governments made the right choice on such an option.
I can't think of one either. Eventually, I do think there will be a global standard, and if it is not digital and on the internet, it will be in some other mass-shared format. Perhaps it will be issued in every smart phone or whatever device replaces them? In a very, very long time, there will likely be a global governance with a single issued credit of some sort and perhaps localized ways for it to be distributed from country to country. But, trust me, in that central currency is not going to be Bitcoin and it won't be Doge.
It will be at a much higher level of management. There will be 70, different cryptocurrencies in the year and each one will serve it's purpose. That is equally unlikely. Be it ten years or , eventually this experiment in currency will take a new course and it will probably not be for the better. It is not often that freedom wins over tyranny, and it is said that anyone who chooses security over freedom deserves neither. Is this an exception? I don't think so. There are always other options. You know, the Linux option, the Plymouth option etc.
But, the top competitors always tend to rise to the top, and crypto will be the same. Pumps and dumps will circulate the thousands of other coins out there, but the best of each category will win out over choice; plain and simple. People want clarity, and they do not find it with Bitcoin Black, Bitcoin Cr Bitcoin is the only Bitcoin. But, the losers will eventually fade.
Anything that sounds angry or bitter, I hope is taken with a measure of genuine interest. I love the potential of this industry. I wish I were entering with a great amount of wealth, so I could take even larger advantage of my ability to trade with nearly zero error. But, my only true hope in crypto wealth is to be allowed to trade my crypto on a legitimate exchange with almost no fees and generous volume.
That is an area that needs much better options, and some of the more affordable options need to reside somewhere outside of Asia. Diverse spread of income potential needs to protect the future of crypto.
Let us self govern the industry and not be taken advantage of. Then, crypto can reach mass adoption through volume, value growth, good news and use at market. End manifesto. Please share this and get the word out. We can grow crypto into a massive new sector for wealth and use that wealth to help improve and shape the world.
To so do, it requires each of us, yes each of you, to grow up a little and let go of some of these mantras that have gotten us nowhere grand in a decade. Not your keys, are your keys, DEX or centralized, hot wallet cold wallet, hardware wallet, we all want a better world through crypto.
I'm Gordon Freeman I hear they made a likeness of me in some video game This is my blog for all things crypto, from my day trading and tutorials to general crypto news. Tao of Satoshi.