A Bitcoiner (not a Bitherean)

Joined December 2024
BitcoinMania retweeted
The Current State of Bitcoin's Proof of Work
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BitcoinMania retweeted
Replying to @GrassFedBitcoin
If everything is good for Bitcoin, Bitcoin is good for nothing.
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BitcoinMania retweeted
I want people to really think about how stupid and downright insane the phrase "Everything is good for Bitcoin" is. It's a technology that seeks to separate money from state and prevent the entire parasite class from stealing almost everything from >99% of the planet. This means there is huge incentive by the most powerful people on earth to destroy it by any means necessary. And Bitcoin is not magically immune to every one of their tactics. The most successful to date has been infiltration and subversion and it is everywhere for those willing to look. BIP110 is an expression of an uncaptured network, and its opposition was purely and revealingly concerned with the artifacts of that. Do we need large OP_RETURNs or upgrade hooks for a new op code before Sep 27? Or OP_IF in taproot or an address type not used in over a decade? No - we just don't want upgrades from non-technical, non-economic users that lack consensus as that cannot be *permitted*! So now we are left with the "Bitcoin is permissionless, so you have to let people turn it into file storage" bros becoming irate that we are leaving, once again without permission. The unsalvageable dumspter fire that we spent the last three years fighting, in public, for no-brainer upgrades to, is captured. This has been demonstrated, again clearly to everyone willing to look, as it has become impossible to make progress unless working within the appropriate political channels rather than operate forthrightly in public. That is just another fiat system. Decision making was deferred to captured industry players. Those entities are incapable of doing what is required to separate money and state as they require the state's permission to exist.
This is why we need a PoW / BIP-110 hard fork: 1. Stop Bitcoin from becoming data storage 2. Stop centralization 3. There are no other plans for how to fix No. 1 and No. 2 There are three reasons for No. 3: First – the free-rider problem, which is the single most important game-theoretical problem when it comes to freedom and freedom tech (everyone waits for others to fix it). Second – an almost cult-like worship of memes such as “Bitcoin is immutable” and “everything is good for Bitcoin” (the blue pill - a false belief system). Third – those who discuss solutions to No. 1 and 2 are constantly being attacked (bad actors and fearful people resort to power games). Smart people in the space are aware of this. Jeff Booth, a guy I have a lot of respect for, is completely aware of it. But what does he do? He begs hardcore Bitcoiners to stay on the legacy chain and help him and other good people fix Bitcoin. But he has no plan or proposal for how it should be done. Jeff is stuck in No. 3, just like everyone else who talks about the fork. In this game, the practical question for most people is: “Should I sell my coins on one of the two chains after the split?” People will look at No. 3 and many will think: “It might be best to sit on them for a while and see what happens.” You can complain about the fork and smear people for supporting it as much as you want. But in the end, everything boils down to No. 3 and - if you want to be a free rider or not, - if you prefer to have a false belief system, - if you prefer to harass people and - ultimately - what you do with your coins.
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BitcoinMania retweeted
🎙️Is Bitcoin Compromised? Ep. 156 with @lukedewolf * This episode was recorded in May 2026, before the BIP110 activation Luke de Wolf, industrial cybersecurity expert and author of “Defending Bitcoin”, applies critical infrastructure security frameworks to Bitcoin itself. We dig into the network's real risks and vulnerabilities: arbitrary data, Bitcoin Core's governance structure, and the Core vs. Knots split. Luke’s argument: Bitcoin has weathered this so far, but complacency is the one risk it can't afford. → Please like, comment, share & subscribe, to help me beat the suppressing algo's. Thank you! 00:00 - Coming Up... 01:14 - Introduction: Luke de Wolf 06:23 - Critical Infrastructure & Payment Infrastructure 10:29 - Ad-Break: Expat Money & Ledn 12:51 - Cybersecurity as a Framework for Digital Risk 15:51 - The Structure of Luke's Book "Defending Bitcoin" 17:18 - How Do We Keep Bitcoin Secure? 18:48 - Threats to the Network: Nodes, Miners, Developers 19:51 - Mining Centralization Risk & Examples 25:05 - The Case For Remote and Solo Mining and Hashing 27:41 - The ASIC Supply Chain and Security Risks 31:18 - Devs: Bitcoin Core Governance Structure & Risks 33:06 - Arbitrary Data - Context & History 36:28 - Spam, Proof of Work and Bitcoin's Availability 39:18 - Taproot's Vulnerabilities Making Bitcoin Less Usable As Money 46:40 - Core v30, OP_RETURN and Migration to Knots 47:58 - Rough Consensus and the Five Maintainers 50:24 - Ad-Break: Trezor & Abundant Mines 52:16 - The Brink Pipeline and Nominating Your Own Successor 54:46 - Participation in the Protocol and Why Adoption Matters 01:00:18 - Why Luke Wrote This Book
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BitcoinMania retweeted
I get that lots of you are against tail emissions - what you don't get is that the mechanism by which you'd prevent them was just proven completely ineffective.
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BitcoinMania retweeted
"Give me control over a cryptocurrency's mining pools, and I care not what its consensus rules are."
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BitcoinMania retweeted
⚠️ Bitcoiners have no say. If Big Bitcoin wants it, it happens. They’ll toss around “dwindling subsidy” and “demurrage,” Saylor will go on Natalie Brunell, it’s released and back ported in Core v.32, a few pools collude and suddenly you have a “prudent” 4% Bitcoin inflation.
Bitcoiners will never accept “tail emissions”. Mark my words.
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BitcoinMania retweeted
What BIP-110's Failure Means
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BitcoinMania retweeted
I think about this from time to time
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This barrage of hacks, attacks and leaks will be followed by a propaganda campaign. Self-custody will be so tarnished after they are done, no normie will be willing to even think of holding their own keys. They are killing us like they killed independent banks in 1907.
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BitcoinMania retweeted
Are Bitcoin Forks Shitcoins?
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BitcoinMania retweeted
You have a choice:
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In the beginning, nodes were also miners. When ASICS were introduced, nodes and miners became separate entities, which opened Bitcoin up to capture. There is no world in which individuals can compete on energy with entities who have access to a tax base and a money printer.
What will you do when the 5 Bitcoin regulated mining pools start to KYC transactions? If nodes don’t matter what tool do we have?
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BitcoinMania retweeted
Fighting The SHA-256 Oligopoly
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Bitcoin Core has been captured since 2015, "five core developers" 3 of the developers joined the "Media Lab". "Big win for us". "take control" of the developers. 🤮
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GM☕ Good job stopping BIP-110 freedom fighters! Here is your prize:
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17,000 full nodes all over the world > 5 Hash Cartel block templates + industry insiders + Core Devs in cahoots with the Hash Cartel and insiders Kevin doesn’t appear to have strong critical thinking skills.
First paragraph starts with a false sentence. You can disregard the rest. Bip-110 did NOT have broad support. I'd use Luke's patented "Liar!" But I'm blocked.
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BitcoinMania retweeted
Replying to @SatoshiDeniz
There are 12 voting members of the Federal Open Market Committee (FOMC), when fully staffed which makes the decisions. 3 mining pools have 58% of the total hash power.
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Begging miners for protocol changes is the new norm.
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