From 1993 to 2009 Bill Gates invested $1B+ into Encarta the online encyclopedia but was eventually crushed by Wikipedia. This should be a lesson for financial institutions trying to understand Bitcoin. Currently BTC is where Wikipedia was in the early 2000`s. Watch out banks.

submitted by /u/Bitcoin_21
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Bitcoin – The Currency of the Internet

“Until your altcoin successfully defeats a coordinated attack like NYA/S2X, with 90% of the hashrate and major businesses trying to force a hard fork, its immutability is untested and its monetary policy is suspect.” -Pierre Rochard

submitted by /u/norrin_syra
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Bitcoin – The Currency of the Internet

Trying to see both sides of the scaling debate

Hi there,

I am going to post this to both /r/bitcoin and /r/btc, for fairness. You may or may not be aware that I have a little podcast where I interview people in the Crypto and Bitcoin space.

My little place in the community is as someone who is not the most technically proficient but trying desperately to understand scaling. I know that from my community, there are many like me.

One thing most of us can agree on, is that we want Cryptocurrencies to grow, and be successful, therefore we want more people to join, buy coins and spend them. We also encourage people to do their research and understand what they are investing in.

As a non-technical person coming into the space, it is very hard to try and find an impartial view on the Bitcoin scaling debate. There are two very passionate camps who appear to have very passionate views on how Bitcoin should be scaled but the tribalism is scary. I have been sucked into this myself at times.

From my experience of this, I have met various people from both camps. So far I have interviewed Jameson Lopp, Charlie Lee, Roger Ver and Craig Wright. Despite the opinions people have on who I choose to interview, I try to be fair and have both sides. Also, I am not perfect, interviewing is something I am learning and new to.

An awful lot of work goes into preparing each interview, trying to research as much as I can, so I can try and see the points of view and look for gaps for which I can question. Handling each interview is difficult to, especially trying to manage a discussion, get people to answer tough questions, accept that an interview might move into an unexpected area which I don't have the knowledge of, listen to and respond to the interviewee, while also keep to my own question structure. Trust me, it is much harder than you think, especially when you are up against experienced people, if you don't believe me, try it.

In the last week alone I have interviewed a journalist from South America, and thus have been researching the history of Venezuela and socliasm, I have interviewed Roger Ver and Samson Mow, so I have tried to understand the full history of the scaling debate and the current technologies being worked on. I have flown to Japan and back, into England to spend a day with my children and then out to New York. I am not looking for sympathy, I just want people to be aware of what goes into all this.

I am trying to become more impartial but I will make mistakes and I will make judgements. There are many smart and clever people who have the debate and get into quite good technical detail, there are also many people like me who want things to be a bit simpler and want an impartial view.

When a new investor goes onto Coinbase, they will see two Bitcoin's. If they want to research which to buy, they can be met with a wall of propaganda, hate and accusations. This is very difficult to navigate and I am yet to find a solid impartial breakdown of the two.

From both sides of the debate, I have received abuse, false accusations, insults, heavy criticism of everything from my technical knowledge to my ability.

There has also been intimidation and threats.

Everything which has happened has come from both sides of the debate and from people in both camps.

Yesterday when asking questions about Lightning Network I was told that Roger had got into my head and I was becoming a big blocker. Another person sent me a DM, relentlessly arguing with me, even though I explained I was busy preparing an interview, then told me I am a small blocker idiot. This doesn't help anyone.

My own view is that I can see positives and negatives from both sides and I am happy to explore this. There are really smart people working on both sides of the scaling argument, people I respect.

I will continue to do what I do, whatever people say to me. What I do hope is that people can try and slow down a little, try and talk rather than aggressively pursue their own narrative.

What the scaling debate appears to me is different philosophical, technical and economic views on what should happen and how it should be scaled. If you have a different opinion, that is what it is, a different opinion. All others arguments and accusations which come alongside this are just wrapping the opinion.

Neither BTC or BCH are going away. It is a live split test and nobody can say with 100% absolute certainty, how this will play out. Both exist today, both will likely exist in a year, both will likely exist in 3 years but as time goes on each will face new challenges.

My hope is that both camps now just focus on themselves, focus on their approach and work on their solution. My expectation though is that it won't, the endless infighting, accusations, counter-accusations, abuse and trolling will continue.

I will do what I do and I appreciate those who have not been abusive and have been thankful and supportive to what I am doing.

Good luck, happy to answer any non-abusive questions.

Peter PS I currently mine and own both BTC and BCH but am considering selling all of both to remain as neutral as possible.

submitted by /u/mccormack555
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Bitcoin – The Currency of the Internet

Make money by moving Bitcoin forward, not trying to get money from people trying to make money from Bitcoin

There is this stain on Bitcoin of all of these people and companies coming out with their ways to make money on Bitcoin, mainly by targeting those people that want to get rich from Bitcoin. I had two fake "cloud mining" people contact me in the past week. I've had Bitcoin pyramid scheme people contacting me saying if I send .2 BTC today I'll get .4 BTC in 4 days.

Come on people. Get a life. Invest in growing the Bitcoin ecosystem. Make it better, there are so many areas that need productive people to make it grow.

We need plug and play Point of Sale systems, we need amazing user interfaces for our wallets, we need Lightning Network in our browsers so server admins can use micropayments for things like captcha, login security (pay 1 bit when you log into a website so that a hacker attacking your login will have to come out of pocket to try to guess your password), we need wifi software so anyone can share their wifi at home, airports, public spaces and charge micropayments for use.

Go business to business, set them up with bitcoin…take a commission to make money. Go on localbitcoins and buy/sell bitcoins to make it easier for people to get into Bitcoin.

Take whatever your talents are in the real world and translate them into something useful for Bitcoin. Even if it's flipping burgers, sell the best burgers you can make on the weekend and only accept Bitcoin. Call them Bitcoin burgers.

If you're trying to scam people out of money because they don't fully understand the bitcoin ecosystem yet, re-evaluate your life choices and decide today to not be such an asshole. Actually do something with your future and be a decent human being already.

submitted by /u/Elwar
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Bitcoin – The Currency of the Internet