/biz/ - Business & Finance

I think this guy has a good heart and is honest about is love of profits. He is also sincere in his pragmatic critique of BTC and crypto in general, just as he is about his man-titties. A solid contrarian....who loves wagu beef, I hear.

>>12347816
technically he is correct
if majority of BTC miner decide to accept new rules, new rules are in effect

Test

>>12347816
That was something thought provoking that actually bothered me. Won't be a problem for me because I'll have millions in fiat before the 21m limit is raised.

>>12347841
It would be a hard fork, just like bcash raising the block size limit.

It doesn't matter how many miners support a hard fork since normal bitcoin nodes will reject those blocks anyway.

>>12347816
Literally who?

>>12347816
SO FAR THEY HAVE BEEN ABIDING BY EACH HALVENING WHARE TO DRAW THE LINE

>>12347860
>It would be a hard fork
Only as much of a hard fork as every update to Bitcoin Core is a "hard fork." If all the miners agree on it, and the Bitcoin.org team agrees on it too, then theirs will be the longest chain and therefore the Bitcoin™ network.

The people who refuse to download the new Bitcoin client will be the fork.

>>12347869
This is the guy whose project might ironically save normie retail BTC hodlers who don’t already see the writing on the wall as to the actual utility of BTC
>it ain’t a fucking currency
>It’s a store of value at best

>>12347899
Then at least there would be an economic incentive to use the new chain than the old one. Bcash just forked when it was not needed and less than 30% of nodes signalled for it.

Pic related

>>12347899
Look up soft forks and hard forks.

Every update so far has been a soft fork which means a majority of miners *can* coerce the minority to follow their rules.

>>12347870
Because the halvenings so far haven't been significant enough to make them unprofitable.

Think about 10+ years from now when you have mega whales who spent billions on ASIC farms. Are they just going to roll over and be happy with making a pittance after all that? It's like expecting Wall St. and the Fed not to print money after getting fat and happy for decades. Humans are more greedy than they are principled.

>>12347840

Yeah, when I see this guy I know I should hate him, but there's something likable about him. I think it's that he's mostly no-bullshit and from a social standpoint, he seems to be what the average /biz/ retard would be like if they had struck it rich in the 2017 bullrun.

He's a contrarian and seems pretty smart. Definitely browses this board from time to time.

>>12347925
100% agree. The libertarian wet dream of Bitcoin as cash is a dead meme.

Also, nice gif. Got any more art like that?

>>12347816
It will happen sooner or later. Human greed is unlimited. Just look at the mining industry right now: literally cartel mafia structures because this is the nearest to printing money out of thin air ever seen. Just look at Bitmain (going in bed with chinamen officals) and Bitfury (the same thing only in georgia) - billion dollar companies started all from 0 in no time. You are naive if you think they have never gotten their hands dirty

>>12347840
First of all, he is a kike and is controlled opposition.

He is doing typical kike shapeshifting by stealing an anglo name and presenting as a (((fellow white man)))

>>12347816
Nah. They still need the big exchanges to support their fork.

>>12347989
do you realize that the majority of hash is the main and everything else is the fork ?
Exchanges don't care, they will compile the latest wallet and run it.

>>12347941
Pretty sure the “whales” and WallStreet types aren’t done having their way with crypto as a market. The question is whether BTC will be a viable vehicle (for the next ten years) to artificially inflate as an asset, or whether the liquidty will funnel into a different protocol/set of protocols that can yield greater profits.

It’s pretty clear that BTC isn’t going to be the new Internet.

>>12347989
Why wouldn't the exchanges run the new node? How would it benefit them economically to run a chain that no one is mining?

>>12347981
Nouriel Roubini is controlled opposition. richards outreach is very small and also stated that he missed selling the top.

>>12347816
Friendly reminder that Bitcoin Core and Blockstream (the good guys) have already considered this in-depth and will make sure that the max coin limit will never be changed.

https://medium.com/@rusty_lightning/the-three-economic-eras-of-bitcoin-d43bf0cf058a

>The Third Era Will Start With Civil War
>The mathematics of this situation seem inevitable: The miners and businesses with large transaction volume will both decide to (re)introduce inflation. For the large-volume businesses this will externalize their costs, and for miners it’s simply “free money”. The battle lines will be similar to the early Second Era New York Agreement, but this effort will be more nuanced and far broader, with mainstream arguments such as:
>The founder was not an economist; Economists recommend inflation around 1% to encourage spending.[28]
>The support burden of the network should be shared by the wealthy bitcoin holders, not just those actually using their bitcoin.

>The counter-arguments are:
>The 21 million bitcoin limit was a key reason for bitcoin’s success,
>The system’s founder made a conscious and deliberate choice for bitcoin to be a store-of-value over subsidizing payments, by eschewing inflation, and
>Changing the rules now is stealing from early adopters (notably, but not mainly, the anonymous founder).

>The main resistance to this change would come from the developers themselves (who feel this limit is non-negotiable[30]) and long-term bitcoin holders. Businesses will be divided: those which cater to the latter (insurers, vaults) will be against the change, and those with high onchain volume (exchanges, wallet providers) will be for it.
>Although this crisis is entirely predictable from first principles, and laid in the bedrock of bitcoin, it may yield surprising results. And even if bitcoin’s supply remains capped[31], the drama it can produce is limitless[32].

>>12348048
I mean more so on his input on social issues and politics. He is a jew acting as a crypto-white man which half this thread is in love with because they can't spot a kike. (((Heart))) pushes all kinds of degenerate bullshit and has a shallow understanding of politics, while jerking off people like Sam (((Harris))).

Heart's views on crypto can be summed up as:
>if btc, print(good)
>if else; print(bad)
>buy my erc20 token and dont sell it, ive designed it to punish you if you do

>>12347869
Some gun grabbing faggot.

>>12347816
and that's why beecash or any shitcoin where miners vote will fail,
that's why you need a blocksize limit
that's why bitcoin is king because everyone can run a full node that is lightweight and say a big fuck you to stupid miners
miners are like prostitutes, they get paid for what they do and then they should fuck off, if they don't like the rules someone else wil take their place because there is profit to be made

this guy is an idiot who wants to pump another 0xbtc-like scam

>>12347860
this

>>12348108
miners own you
you are delusional

full node that is not a miner node is meaningless, it has no effect on the netwrok, nada

>>12348089
>>12347981
>he is a kike
bullshit, he literally has no Semitic features. he may be a degenerate, but who gives a fuck? we're trying to make money here, not chase purity. >>>/pol/

>>12348018
It only takes one miner and anyone with a PC can run a node.

Friendly reminder that an implementation of the Bitcoin idea exists that is immune to any and all changes. Will probably scale before BTC as well.

>>12348089
if you say so.... doesnt make much sense for me....

>>12347899
gtfo stupid nigger.

>>12348055
>Blockstream (the good guys)

>>12348137
wow, what a good goy. he is a fucking kike and thats not his name. dyor.

no hope for the white race with good goys like this.

>>12348181
Take the real redpill. They truly are the good guys.

>>12347869
hes a fat scammer who made his money in spam advertising, tried his hand at a money laundering operation and now there are some pretty rough guys in panama who want their money back. Real name is Richard Shueler I think.

>>12348181
Syked that you dumb faggots got btfo

>>12348137
yeah, he's a kike and a confirmed scammer.

>>12348145
You can run a node that processes no transactions because it's operating on a stale chain.

>>12347981
Semitic second-class sandfag virgin vs. Ashkenazi Chad masterrace.

if this shit happens crypto will be dead and we are back to centralized database owned by jews

forks like BCH and BSV are just worthless attacks by greedy idiots

>>12347816
Guy lost a lot trying to catch the bottom February 2nd at 7500. He was liquidated during the move to 6k and was almost crying. He fell for the wall street meme and now he tries to make his money back by creating a shitcoin.

>>12347816
wat

>>12347816
1.) You would have to have consensus
2.) The last Bitcoins won't be mined for a hundred years. A lot can happen in a hundred years.
3.) The mining reward will be so low by 2140 that removing the cap won't lead to significant inflation. It would take another hundred years for 1% inflation.

If 1% inflation in two hundred years is the cost for lower fees I'm all for it

>>12347899
Down 90% initial investment detected. Roger Ver has your money and he’s never giving it back ever.

>>12348367
didn't know he got liquidated.
top fucking kek. no wonder he was crying on stream

The problem is the centralization of hashrate to a few actors.
Pools were never part of the original idea imo.
Now 3 or 4 pools control the majority of the network and can do whatever they want.
So yes, OP is right and it will eventually happen.

>>12347816

The problem here is you think BTC will be around long enough for it to hit that 21 million cap.
BTC is a shit tier coin in terms of function and will be supplanted by something else in less than five years.

>>12348516
screencapped your post
in 5 years if BTC is not replaced you will have to kill yourself

Don't listen to him, he's shit talking BTC because he started a competing ICO.

>>12348128
I really think that's the point where Proof Of Synchronicity (PoSy) would be a good measure.

>>12348516
Your underestimating brand name appeal to normies. Not everyone thinks like you.

>>12348867
Proof of Work is brilliant exactly because you can upgrade and that there is no demo-crazy

POW is the only way forward.
POS is pump and dump, and infinite forks that require no support.

If you fork POW you better bring you big boi pants.

>>12347899
SegWit was a soft fork you stupid nigger. BCash IS THE FORK

>>12348055
>>The founder was not an economist; Economists recommend inflation around 1% to encourage spending.[28]
>>The support burden of the network should be shared by the wealthy bitcoin holders, not just those actually using their bitcoin.
my blood boils when I read that jewish BS

>>12348154
Nice try Ajeesh

>>12348128
miners will be where money is at, and money will aways be around the coin that has a fixed supply, no one with half a brain will buy an inflationary piece of shit

>>12349082
and what happens when Fake Satoshi makes BSV more profitable than BTC

I assure you if miner switch to BSV the BTC price will drop sub 1000.

With POW you have checks and balances and selfish interest. It is the perfect system.

>>12348761
he didn't
OP >>12347816 is lying, he said that the block reward limit removal is a possibility
he never said it's something that he predicts or thinks it will happen

I think OP is trying to FUD richard so nobody claims the BTChex coins before him
literal free money

>>12350019
Hi Richard

>>12348423
That's why all these crypto personalities fuck off to lawless gook islands where there's no fear of extradition.

>>12347816
It's going to happen in 2140, at this point Bitcoin would be one of the longest lasting currencies, so it'd probably be replaced by something.
If it is still being used, miners benefit from validating transactions, so if adoption has grown there's no need for block rewards, they still have incentive to mine.

(((Richard Shueler)))

How long are you planning to stake your BHX? Long time frames suck if it pumps early and you need to unstake with high penalty.
Short time frames suck if it doesn't pump and you have to keep holding anyway.

I think the latter is more likely. I'm gonna stake for at least a year.

>>12347816

have you ever heard nodes?

>>12350395
enjoy 99.1% loss

>>12348398

or you just buy monero?

>>12350427
Its a free airdrop to BTC holders. Hard to have losses if you don't spend anything on it.

>>12350456
sell the moment you can
if you stake for an year you will get recked

>>12350464
I'm going to sell asap as well. There's no point in hodling an ERC20 shittoken. It's literally insane.

>>12350365
based and redpilled lifestyle.

One of if not the most important tokenomics of Bitcoin that makes it a better alternative to all fiat + gold is the fact that it is hardcapped to 21m.

This will never, ever change.

>>12350507
unless we introduce segwit
or we use the 4 more digits in the code to split the satoshi even more
or if we fork to have tail emission
or if we just switch to BSV because the chinese tell us to do so

the only defense we have is competition and the ability to walk away

block reward is just the incentive to produce empty blocks.

But we can argue that block will probably full and transaction fees will pay the miners to do their job.

>>12347860
normal bitcoin nodes doesn't matter, only miner nodes matter.
non-mining full nodes are actually parasites on the network since they contribute nothing and only make mining nodes waste their resources talking with them.

>>12347816
No they wont, they'll be too busy competing for fees to kill the golden goose

>>12347938
the point of big blocks are so that the ceiling isn't hit when actually needed

>>12350612
Fuck off Craig

>>12350635
doesn't matter who speaks the truth, the truth is the truth

>>12350627
1mb blocks aren't even being hit with BTC idiot. The reason fees and tx times were so high in December, was because most people hadnt adopted Segwit, they were almost all using legacy. Segwit fixes the problem.

>>12350716
It looks like you're trying to tell lies.
Would you like help?

>>12347816
PoW is dying, and it seems that Richard has started to accept that bitcoin is no longer the future.

>>12350657
Only if it's verified. How about you release proof that you're Satoshi? You can't because you're a larping faggot

>>12350507
That doesn't even fucking matter because

1) The limit won't go into effect until a century later. From our perspective, the supply of BTC is still growing.

2) The value ultimately depends on how much money people are willing to pay for it. Even if you put the limit a 1 Bitcoin, if no one buys it then it's completely worthless.

3) There are other crypto people can buy.

>>12350818
I am not Satoshi.

Craig will never prove that he is him btw, all that would happen is:
1. governments and criminals would come after him
2. he'd probably be sued by some retards that think their misfortune is his fault
3. people will just say "it only proves that he has the private keys, not that he is satoshi"

if he does try to actually prove it it'll be after everything is said and done, long after BSV have won

>>12350844
Satoshi does not have to reveal his real world identity.
All he has to do is sign a decree with the genesis block.
CSW is not Satoshi period.

>>12350826
1. Controlled and predictable inflation is still better. Also bitcoin gets lost at the same time.
2. 1 bitcoin is 1 bitcoin. You're stuck in comparing it with fiat.
3. End goal is bitcoin at scale. Everything else need to not only die off but also get raped before.

>>12350868
>All he has to do is sign a decree with the genesis block.
3. people will just say "it only proves that he has the private keys, not that he is satoshi"
>u not even reading the posts you reply to

>>12350872
Unironically Satoshi would have been glad to see the 1000 shitcoins that have emerged.

>>12350880
He has also a million BTC and if you do not obey he will dump on you !
So you will obey. Cause the only thing you care is fiat valuation.

Long before the cap is reached the majority of the miner profit will come from processing transactions and whatever metanet does. Shitcoins like BTC and Bitch (BCH) will die within 5 years

>>12350880
People would believe him since this is the best and only way to prove something about the origin of bitcoin. You're trolling. And being bad at it.

saged

>>12350872
>1. Controlled and predictable inflation is still better.

Better for whom? For the average person, it doesn't matter because most BTC's supply is concentrated in a small number wallets. Steady growth is impossible because once BTC's value reaches a certain point, the holders of those massive wallets would dump the coins, crashing the market then they would buy them back again, repeating the cycle.

>Also bitcoin gets lost at the same time.

That happened at the time when BTC wasn't worth much. Losing wallet keys rarely happens now.

>2. 1 bitcoin is 1 bitcoin. You're stuck in comparing it with fiat.

That's bagholder cope. You can't bear to realize that you've made a bad investment so you try to detach BTC's value from reality entirely.

>3. End goal is bitcoin at scale. Everything else need to not only die off but also get raped before.

The fact that Bitcoin needs other coins to die off in order to survive only shows that Bitcoin requires centralization and forced adoption in order to succeed, which makes it a worse than fiat.

>>12350968
Look into your heart and you know it's true. People wouldn't believe he is satoshi even if Craig slapped his dick in their face and it had the private key tattooed on it.

>>12350985
Better for everybody. You're still thinking small. Imagine Venezuelan hyper inflation.

Losing keys still happen and many don't even think about what happens to their crypto after they are dead.

Feel free to call it bagholder cope and feel free to not want world money.

It's not that bitcoin literally need them to die off, they just aren't needed and will die off. And get raped by the supreme crypto.

why is a this man so interesting bitcoin when it has been proven beyond all reasonable doubt that creg is satoj and that there is a Vishnu living on the btcsv poochain

>>12348154

Orangepilled.

>>12348055
>deflationary spirals are a jewish lie

>>12351056
>Look into your heart and you know it's true.
that is literally con man tactic, fuck you Craig

>>12347899
Disingenuous non-sequitur: the post