/biz/ - Business & Finance

Bitcoin's original plan was to become a peer-to-peer electronic cash used by the whole world, with large blocks that could allow anyone to write on-chain, as the Bitcoin Wiki page on scalability from 2015 shows:

https://web.archive.org/web/20150212094459/https://en.bitcoin.it/wiki/Scalability

The vast majority of the various stakeholders supported this plan, and because the Core development team refused to implement the plan, there was a very popular client called BitcoinXT created by another set of Bitcoin developers to institute the hard fork to significantly raise the block size limit.

Everything was going well, with 1. the majority of mining power signalling support, 2. the majority of big industry players signing a letter signalling support and 3. /r/Bitcoin upvoting XT posts to the top of subreddit's front-page, but then Theymos instituted a censorship regime on /r/Bitcoin and banned anyone who mentioned BitcoinXT:

https://medium.com/@johnblocke/a-brief-and-incomplete-history-of-censorship-in-r-bitcoin-c85a290fe43

So the very high level of support and communication needed to execute a successful hard fork couldn't be attained, and the 'Bitcoin' branding remained with the chain with the majority hashrate, BTC.

This was your sign to get out.If you deny jan 2018 was the peak of the fad, then you show your ignorance of history.Im not denyng the odd crypto wont rise, but the amount of them rising, and the amount they do rise if falling off a cliff.You have better results in penny stocks and regular stocks at this point.But none of you know that because this is the only market you have ever been in and think the years before 2018 were normal.

>>14679528
what is this, 2017? shitcoins are dead. Only buy bitcoin.

Crypto are Ponzi scams

DO EET!

Last time thots getting into crypto was the biggest sell indicator ever. I hope people remember this.

>>13215551
unironic good advice

>>13176536
if its not in pic related it wont pump next bull run

>>13111675
It was finished the moment it got mass media attention.

I have yet to meet anyone online who believed all 3

A) the market was going to crash as opposed to btc 50k+ eoy 2018 so hodl

B) was not scared shitless of putting anything in tether when everyone said it was going to crash anyday as their chief accountant had quit and it wasnt backed by anything

C) didnt want to get raped by taxes cashing out

Did anyone, no larp, actually have the foresight to see the crash coming, and tether or cash 100k plus out, if that 100k+ was your entire stack?

>>12663987

>>12568068
>In certain types of businesses, bitcoin is literally the most convenient way to do transactions and as long as that sector of the economy stays alive
you can't be talking about BitPay transactions since that's basically fiat since the Bitcoin is market dumped as soon as someone pays, so darknet markets? ransomware payments?

It has been proven that the black market use of Bitcoin is on the order of 1% its total transaction volume. Virtually everyone is just trading it for speculation. If Bitcoin were valued for its utility as a black market currency, it would be worth less than $1000. 2015 valuation. Is that what you want?

And this

>>12405143
>autist bubble
Keep HODLING.

anyone who bought after 2017 is not an early adopter

>>11489833
remember pic related?
now is the time to get out

Reminder that when you invest in a market you are also betting on the people that are invested alongside with you.

>you saw this 9 months ago and didn't sell
What's your excuse?

>>10331290
One picture to wreck your post

>>9627591

Commiefornian normies are going to get absolutely rekt by crypto crash god bless

Nah we're definitely early adopters