I hate being the devil´s advocate but I have the feeling that #bitcoin nostriches like to think that everything is hunky-dory with Bitcoin. I rather see lot´s of problems, not yet, but coming clear on the horizon. And too few seem to pay attention to that:
- LN was the bitcoin scaling solution. Custodial LN will be subject to fraud as all custodial solutions. Non-custodial is too burdensome to onboard the average person.
- Without LN the base layer wil be at standstill next year. Block space is now FULL. Backlog in the mempool is about 200.000 transactions - 340 blocks. It has been completely full and never cleared since the beginning of 2023.
- All the available blockspace for 2024 is about 150million transactions which everybody will compete for and will make blockspace by itself an absolute scare commodity.
- Mining fees are going to skyrocket making the base layer good only for very large transactions.
- So WTF we are talking about bitcoinizing the entire world. If today @npub15dql...lm5m decides to give away some sats to onboard the world population (8 billion) it will take 40 years to the base layer to clear the transactions doing nothing else.
- Then we have bitcoin fungibility which is going down the toilet and is clearly the weak spot regulators will attack.
To me it does not look good at all and putting the head into the sand does not help.
Bob Burnett of Barefoot Mining talks about that with @Peter McCormack
Imagine for a moment the future with a large bitcoin economy and think about Israel's war of annexation of Gaza within that framework. In such a scenario, if the Israeli war could not be funded by US$ unlimited fiat-fuckery, the Israelis should have carefully considered the costs and the risks of it (and for how long they would be able to finance it), versus the cost of finding a mutually convenient agreement with the Palestinians.
The Israeli Central Bank has estimated the cost of 2 years of war at least US$ 53 billion. This is 10% of Israel's GDP being literally burned to kill people and destroy infrastructure. This is also equivalent to the estimated cost of building the Ben Gurion Canal at US$ 55 billion. Intuitively, a fraction of US$ 53 billion could have been better invested to reach an agreement with the Palestinians over the revenues from the Leviathan gas reserves and the Ben Gurion Canal project (which are the only true reasons for the war), if only Israel had to pay for that war with its bullion reserves or bitcoin, rather than with US$ fiat-fuckery printed ex nihilo by its American friends. But when money is free to print and the ignorant masses foot the bill (via inflation or additional debt), while the profits flow yet again into the pockets of the Military-Industrial Complexes and the usual war profiteers, then the incentive for the Machiavellian elites is clearly to wage war rather than peace.
Read below on my substack how the corrupted fiat money incentivizes war and how bitcoin can foster a new era of peace and prosperity around the world.Be part of the peaceful #bitcoin revolution.
#bitcoin #war #peace #israel #palestine
The million-dollar question is: is Milei a true libertarian and a bitcoiner or rather a "Manchurian Candidate" elected with the secret support and money from powerful US and Israeli lobbies?
Only time will tell and I hope to be wrong; however, where there is "smoke," there is usually fire, and one gets burned. I hope the hopeful Argentines will not get burned again:
1. His official program does not refer directly to bitcoin but generally to a "liberalization of exchange rates and alternative methods of payment" (this may include bitcoin) or, in an alternative, the dollarization of the economy, which is not really in the interest of Argentina. Despite that, the mainstream media has been pushing the bitcoin narrative like crazy.
2. A geopolitical pivot towards the US and Israel at a time in which the global (South) consensus is already strongly shifted towards the East is certainly not in the interest of Argentina. At least keeping a neutral stance would be the wisest option. So why the pivot? Was he co-opted just like Zelensky, Macron or the Italian PM Meloni?
3. His timely Jewish conversion - upon the election - and his affiliation with the very powerful Jewish Orthodox Chabad Lubavitch movement which caters very powerful individuals, including the Argentinian billionnaire Eduardo Elsztain owner of Cresud and Banco Hypotecario and Werthein owner of Banco Patagonia (who flew Milei in his private jet). Other members and close friends of the Jewish sect are also a number of Russian and Ukrainian Oligarchs such as Lev Leviev and Abramovich, Donald Trump and Jared Kushner and David de Rothschild and Israel PM Netanyahu.
So will Milei work for the Argentines or for someone else?
#bitcoin #argentina #milei #israel
Do you know that bitcoin represents ONLY 0,3% of the global money laundering business? With a share of 0,3% of the global criminal activity, bitcoin should not even be on the radar of regulators. So why then are regulators and politicians around the world always too keen to use the money laundering false narrative against bitcoin????
Easy, look at who pays them and what is their Agenda:
1. Slow down Bitcoin adoption because they prosper in the corrupted fiat system
2. Let the banksters (who feed them) continue to prosper from the US$ 3-5 trillion money laundering business they run. Otherwise, how could they finance black-ops and war-profiteering schemes?
Read here how the biggest scam and Ponzi scheme of the century makes them rich and you poor while killing millions.
Bitcoin is your only option to change the perverse incentives of the fiat system which enriches them, kills many innocents and makes you poorer. Read here how they do that.
#bitcoin #war #fiatcurrency
And who pocketed the moneys?
And who owns ALL of them?
Read here how the elites own "the War Inc" and why it is so profitable for them and how Bitcoin can change that.
#bitcoin #war #fiatcurrency
