Thursday, November 1, 2018

Bitcoin 10 Years - Achievements, Lies, and Bullshit Claims So Far

Bitcoin Achievements so far:

  • It has spawned a cesspool of scams (1500+ shit coin scams, plus 100's of other scams, frauds, cons).
  • Illegal Use Cases: illegal drugs, illegal weapons, tax fraud, money laundering, sex trafficking, child pornography, hit men / murder-for-hire, ransomware, blackmail, extortion, and various other kinds of fraud and illicit activity.
  • Legal Use Cases: Steam Games, Reddit, Expedia, Stripe, Starbucks, 1000's of merchants, cryptocurrency conferences, Ummm ????? The few merchants who accept Bitcoin immediately convert it into FIAT.
  • Contributing significantly to Global Warming.
  • Wastes vasts amounts of electricity on useless, do nothing work.
  • Exponentially raises electricity prices when big miners move into regions where electricity was cheap.
  • Any others ? (Please tell me).

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Bitcoin Promises / Claims that turned out to be lies and bullshit so far:

  • Be your own bank (Exchanges)
  • No middlemen (Exchanges, lightning network, sidechains destroy this claim)
  • Decentralized (Core devs still massively involved, most hashpower in China, etc)
  • Instantaneous transactions
  • Fast transactions
  • No transaction fees
  • Low transaction fees
  • Easy to use
  • Safe
  • Secure
  • Cannot be stolen
  • Cannot be hacked
  • Can be mined by anyone
  • Can be mined by anyone, even with an old computer or laptop
  • Cannot be centralized
  • Anonymous
  • A currency
  • A store of value
  • The best investment the word has ever seen
  • A great investment
  • Efficient
  • Scalable
  • Stable
  • Resilient
  • Low energy
  • Low risk
  • Reliable
  • Uses amazing new technology
  • Segwit will solve all of Bitcoin's woes
  • Lightning Network will solve all of Bitcoin's woes
  • Limited by scarcity
  • Can only go up in value
  • Price cannot crash
  • Has intrinsic value
  • Value will always be worth more than cost to mine
  • YOU CANNOT LOSE
  • Adoption by investors is increasing exponentially
  • Adoption by investors is increasing
  • Adoption by merchants is increasing exponentially
  • Adoption by merchants is increasing
  • You are secure if you keep your coins on an exchange
  • You are secure if you keep your coins in a hardware wallet
  • You are secure if you keep your coins in an air-gapped Linux PC
  • Will change the world
  • "the next phase in human evolution"
  • "Blockchain is more encompassing than the internet"
  • Blockchain can solve previously unsolvable problems.
  • "The only regulation we need is the blockchain"
  • "Bank the unbanked"
  • "To abolish financial slavery and the state's toxic monopoly on money."
  • "To have better tools in the fight against the state violence and taxation."
  • "To stamp information on a blockchain forever so we can bypass state censorship, copyrights, patents(informational monopolies) etc."
  • Will destroy / overthrow FIAT
  • Will destroy / overthrow the world's governments
  • Will destroy / overthrow the banking system
  • Will destroy / overthrow the world economies
  • Will free people from tyranny
  • Will give people financial freedom
  • Will bring world peace
  • Never going below $15K again
  • Never going below $13K again
  • Never going below $10K again
  • Never going below $8K again
  • Never going below $6K again
  • Is NOT a Scam
  • Hashing Power secures the Bitcoin network
  • Untraceable, private transactions
  • Guaranteed privacy
  • 100% secure
  • no single entity, government or individual, can alter or reverse its transactions
  • Bitcoin has come to destroy all governments and bring about the libertarian utopia of my dreams.
  • The major issues in Bicoin's network will be fixed. This is still early days, Bitcoin has only been around for 2+ years.
  • The major issues in Bicoin's network will be fixed. This is still early days, Bitcoin has only been around for 5+ years.
  • The major issues in Bicoin's network will be fixed. This is still early days, Bitcoin has only been around for 7+ years.
  • The major issues in Bicoin's network will be fixed. This is still early days, Bitcoin has only been around for 9+ years.
  • 1,000's of predictions of skyrocketing and/or never falling prices
  • Bitcoin now at $16,600.00. Those of you in the old school who believe this is a bubble simply have not understood the new mathematics of the Blockchain, or you did not cared enough to try. Bubbles are mathematically impossible in this new paradigm. So are corrections and all else", John McAfee, 7 Dec 2017 @ 5:09 PM,https://mobile.twitter.com/officialmcafee/status/938938539282190337
  • "Bitcoin will surpass $15,000 in June [2018]." John McAfee, May 25, 2018, https://bitcoinist.com/john-mcafee-says-bitcoin-will-surpass-15000-in-june/
  • "Last dip ever.", AngeloBTC, 14 Oct 2018, https://mobile.twitter.com/AngeloBTC/status/1051710824388030464/photo/1
  • "Bitcoin May Have Just Experienced its Final Shakeout Before a Big Rally", Joseph Young, October 15, 2018 22:30 CET, https://www.ccn.com/bitcoin-may-have-just-experienced-its-final-shakeout-before-a-big-rally/
  • Any others ? (Please tell me).

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Promises / Claims / Predictions still to be determined:


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