Many in Bitcoin seem to have a false sense of “we’ve got this really valuable network we need to protect!

[rogerver]

Many in Bitcoin seem to have a false sense of “we’ve got this really valuable network we need to protect!"

An article worth reading by Co-founder of Coinbase:
https://medium.com/the-coinbase-blog/et ... .dwlaoy9us

Some other key quotes:

Ethereum’s core development team is healthy while Bitcoin’s is dysfunctional

Ethereum has a growth mindset while Bitcoin has a false sense of accomplishment

Ethereum is making faster and more consistent technical progress on the core protocol

I'm very sad by everything he says, but I can't say I disagree.

[Fremont]

Many in Bitcoin seem to have a false sense of “we’ve got this really valuable network we need to protect!"

An article worth reading by Co-founder of Coinbase:
https://medium.com/the-coinbase-blog/et ... .dwlaoy9us

Some other key quotes:

I'm very sad by everything he says, but I can't say I disagree.

I read that article this morning and I can't disagree either, his points are valid. The infighting amongst Bitcoiners over which direction to take to resolve the issue of full blocks is causing complete stagnation rather than technical progress, and Ethereum is fast becoming a more attractive option as a result.

[iFixBTCmemoryIssues]

Bitcoin is headed into a disaster scenario, that I can assure you.

What could have been become a trillion dollar market is now being destroyed by scammers with no knowledge of economics and little programming skills.

This is what happens when you let a company full of thieves (blockstream.com) into a free-market.

At least you know who to blame and sue, their backers have deep pockets

[inBitweTrust]

It is sad that coinbase chooses to spread misleading and dishonest statements, but I can certainly understand the pressure they are under to produce revenue and please their VC investors. They probably feel betrayed that a rush of adoption didn't occur during the last year and blame it on a majority of the developers as a scapegoat. I am not suggesting they don't want bitcoin to succeed , but what supersedes this is their short term profits and thus the recent pivot to profit off of alt speculators. I don't even blame them for adding Ethereum and soon litecoin to their exchange , but their is no need for them to recklessly spread lies. Perhaps this is Fred's Honest opinion? In such a case this is far more horrifying as it shows a deep misunderstanding of reality, and one should by concerned about the ignorant and reckless nature in which coinbase is acting. To those that disagree with my opinions I ask you this- Even if coinbase truly believes they are supporting the right course forward, what type of sloppy and desperate mindset would think to have the CEO make a fool of himself on social media platforms rather than keep his mouth shut and strategize and take action without making multiple PR blunders? It should make any client or investor of them worry.

[inBitweTrust]

I read that article this morning and I can't disagree either, his points are valid. The infighting amongst Bitcoiners over which direction to take to resolve the issue of full blocks is causing complete stagnation rather than technical progress, and Ethereum is fast becoming a more attractive option as a result.

You may call it Hubris , but Ethereum has no future and is short term fad. There are very specific technical reasons and structural reasons this is true*. I will agree with you that the infighting has indeed distracted development and more users will be scammed by picking up alts in the short term. This is unfortunate. The sooner we understand the technical reasons Core's scalability roadmap must progress and get behind that vision the better.

* In the mentioned blog post Fred ignorantly assumes that being "turing complete " is a desired feature and not just a marketing gimmick for a public blockchain. This is spreading a very distorted misunderstanding of the technology and the security implications of such functionality. It is akin to a new company advertising how restrictive hardware wallets are like trezor / ledger and how instead they want to create a turing complete hardware wallets for individuals to store their assets within instead(app on cell phone). Most these individuals don't understand the limits and roles of smart contracts either and ignore the dependencies of oracles.

[iFixBTCmemoryIssues]

It is sad that coinbase chooses to spread misleading and dishonest statements, but I can certainly understand the pressure they are under to produce revenue and please their VC investors. They probably feel betrayed that a rush of adoption didn't occur during the last year due and blame it on a majority of the developers as a scapegoat. I am not suggesting they don't want bitcoin to succeed , but what supersedes this is their short term profits and thus the recent pivot to profit off of alt speculators. I don't even blame them for adding Ethereum and soon litecoin to their exchange , but their is no need for them to recklessly spread lies. Perhaps this is Fred's Honest opinion? In such a case this is far more horrifying as it shows a deep misunderstanding of reality, and one should by concerned about the ignorant and reckless nature in which coinbase is acting. To those that disagree with my opinions I ask you this- Even if coinbase truly believes they are supporting the right course forward, what type of sloppy and desperate mindset would think to have the CEO make a fool of himself on social media platforms rather than keep his mouth shut and strategize and take action without making multiple PR blunders? It should make any client or investor of them worry.

Brian Armstrong is one of the most reputable people in the industry. His company is also extremely reputable and holds some billion dollars in Bitcoin. He is protecting his customer base from being scammed. What do you hold? Nothing, besides the fees you are scamming. A short lived venture. We, have real wealth.

You're giving him the grounds to sue you for defamation, this is a guy who will sue you so hard generations of your family will feel it.

When the gangbang on you thieves is over, you're all going to be left with extremely sore assholes

[iFixBTCmemoryIssues]

I read that article this morning and I can't disagree either, his points are valid. The infighting amongst Bitcoiners over which direction to take to resolve the issue of full blocks is causing complete stagnation rather than technical progress, and Ethereum is fast becoming a more attractive option as a result.

You may call it Hubris , but Ethereum has no future and is short term fad. There are very specific technical reasons and structural reasons this is true*. I will agree with you that the infighting has indeed distracted development and more users will be scammed by picking up alts in the short term. This is unfortunate. The sooner we understand the technical reasons Core's scalability roadmap must progress and get behind that vision the better.

* In the mentioned blog post Fred ignorantly assumes that being "turing complete " is a desired feature and not just a marketing gimmick for a public blockchain. This is spreading a very distorted misunderstanding of the technology and the security implications of such functionality. It is akin to a new company advertising how restrictive hardware wallets are like trezor / ledger and how instead they want to create a turing complete hardware wallets for individuals to store their assets within instead(app on cell phone). Most these individuals don't understand the limits and roles of smart contracts either and ignore the dependencies of oracles.

The lies and misinformation coming out of you scammers is on an unbelievable scale. You have all gone mad.

Bitcoin is losing market-cap day after day to ether while your backers try to prop up the price of bitcoin. I've seen morons do this on the market, they try to build a wall and hold it. Eventually, they lose and it all comes crashing down. This is economics 101, you can't keep things propped up forever.

At least when you scammers are out of the picture, we will all work hard to repair bitcoin because we're good people. We sleep at night.

Enjoy your scam while it lasts.

[inBitweTrust]

You're giving him the grounds to sue you for defamation, this is a guy who will sue you so hard generations of your family will feel it.

When the gangbang on you thieves is over, you're all going to be left with extremely sore assholes

Please don't get too stressed out brother. It is better we discuss the facts than get emotional. Have a great day.

[iFixBTCmemoryIssues]

You're giving him the grounds to sue you for defamation, this is a guy who will sue you so hard generations of your family will feel it.

When the gangbang on you thieves is over, you're all going to be left with extremely sore assholes

Please don't get too stressed out brother. It is better we discuss the facts than get emotional. Have a great day.

If you review my post history, you will see that 99.9% of my posts are of the gracious nature.

Now, people will think, "why is this person and everyone else telling me I'm being screwed, these people never say anything bad about anyone". That is fact.

Your first problem was when you attacked our nodes.

Your second problem was when you stole from us.

Your third problem is when you hi-jacked Bitcoin to steal everything.

Your fourth problem is that you have pissed off me and thousands of other people who I wouldn't fuck with any day of the week.

Again, enjoy the scam while it lasts, our reach is global and you are fucked.

[inBitweTrust]

Your first problem was when you attacked our nodes.

Please stop spreading lies. I never have participated in or defended the practice of DDOSing nodes.

Your second problem was when you stole from us.
Your third problem is when you hi-jacked Bitcoin to steal everything.

??? From my perspective it is a small vocal minority which is stealing many productive hours of time from the rest of the community. I think it is a bit delusional to assume that simply lowering fees back down to 0-2 pennies by "artificially" increasing maxBlockSize variable will cause a wave of mass adoption as well. You see , the average consumer doesn't care about bitcoin and pays nothing directly for tx fees. In fact many get 1-2% cash back for their credit card purchases, the 3 pennies more in tx fees makes no difference.

Your fourth problem is that you have pissed off me and thousands of other people who I wouldn't fuck with any day of the week.

Again, enjoy the scam while it lasts, our reach is global and you are fucked.

I apologize if my words have hurt your feelings. There is no need for violence or putting on an internet tough guy persona. Lets stick to the facts and simply discuss the issues like clear-headed adults, Mr Ether pumper.

P.S. Thank you for being an excellent example of your group!

[iFixBTCmemoryIssues]

Your first problem was when you attacked our nodes.

Please stop spreading lies. I never have participated in or defended the practice of DDOSing nodes.

Your second problem was when you stole from us.
Your third problem is when you hi-jacked Bitcoin to steal everything.

??? From my perspective it is a small vocal minority which is stealing many productive hours of time from the rest of the community. I think it is a bit delusional to assume that simply lowering fees back down to 0-2 pennies by "artificially" increasing maxBlockSize variable will cause a wave of mass adoption as well. You see , the average consumer doesn't care about bitcoin and pays nothing directly for tx fees. In fact many get 1-2% cash back for their credit card purchases, the 3 pennies more in tx fees makes no difference.

Your fourth problem is that you have pissed off me and thousands of other people who I wouldn't fuck with any day of the week.

Again, enjoy the scam while it lasts, our reach is global and you are fucked.

I apologize if my words have hurt your feelings. There is no need for violence or putting on an internet tough guy persona. Lets stick to the facts and simply discuss the issues like clear-headed adults, Mr Ether pumper.

P.S. Thank you for being an excellent example of your group!

You have participated in denial of service attacks on my nodes and everyone else on this forum who runs a node.

I would consider myself, coinbase and every customer a large majority. Your company is a minuscule minority.

As a child, I was taught this, "leave the campsite the way you found it". In comparison to Bitcoin, it had healthy growth from every aspect, until your company came around. Besides tearing the community apart, you've caused mass destruction on an economy, thus why I call you terrorists. The only one with a delusional vision are those of your company. I find it ironic that every insult you throw my way, it's reflected back upon yourselves.

The average person does care about Bitcoin. I have taught a lot of people, from kids to adults, learn how to use Bitcoin. They may be hesitant at first, but in the end I always receive a comment that goes something like, "wow, this is really cool, this will revolutionize the future". I too agree.

What I'm not about is turning people off from Bitcoin 7 years later, by having them fee gouged and their transactions delayed. I'm also not about attacking businesses running nodes providing free transactions. Everyone has the wright to a free transaction if available. You do not have the wright to attack my nodes and convince me otherwise.

Your comparison of cash-back from a credit-card purchase is irrelevant to Bitcoin. Bitcoin is not a banking institution. You can't force people to pay fees, although you have done a good job of it thus far. The problem is, you have angered the wrong people. You have angered people that have put their blood and sweat into Bitcoin, while you contributed nothing. You have ruined peoples friendships and careers. The amount of duress that your company has caused is beyond anything I have ever experienced.

All of these above is why your days are numbered.

You may be able to win the battles using the dark-side of technology, we will win the war by throwing you through the door.

Words will never hurt my feelings, I am who I am.

I'll support Ether until your scam is undone. Then, I'll support Bitcoin and work with everyone to repair the damage you have done.