/bmg/ Bitcoin Maxi General

Money is the only real use case for blockchain, and Bitcoin is the only true cryptocurrency. There is no reason to buy anything other than Bitcoin. The ignorance of these mental midgets astounds me.

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twitter.com/ChainLinkGod/status/1296145163157254144?s=20
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ehhm, who is this?

Reporting in.

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a man

Bitcoin is a ponzi

i would eat so much poop straight out of those buttholes

Why do you overlook and under-appreciate co-existence?

Great idea for a general, maxi here.
To me, maxi means that there’s only room for one base layer, store of value crypto currency, and that is bitcoin (btc), not just because it was first but because it is perfect.
That said, by saying I’m a btc maxi, I’m obviously not against other layers on top, addressing other use cases. I’m not against lightning. I’m not against some derivative fund investing in btc. I’m not against someone building a successful e-commerce site on top of bitcoin.
In the same way I’m not against a smart contract layer on top of bitcoin. If this layer is eth or something else remains to be seen, but currently eth seems to have the upper hand. Good on Vitalik.
Similarly, I’m all for another layer of Oracles feeding the smart contracts, and here I have to say I’m really rooting for Sergey - I can’t help but like the guy! And I think Chainlink is making all the right moves. Investing in Chainlink is more like investing in a company than investing in btc, which is investing in math, but it’s nevertheless an attractive, smart company in my opinion, better than tesla and with a better share model (link tokens, which are like shares that can be used for something).
So I’m 80% btc, 10% eth (a little reluctantly) and 10% link (happily), am I correct in still thinking myself a btc maxi?
I mean, I also have tesla shares.

>In the same way I’m not against a smart contract layer on top of bitcoin. If this layer is eth or something else remains to be seen, but currently eth seems to have the upper hand. Good on Vitalik.
I really don't understand the point of his "universal computer" or whatever it is he calls it. They tried running CryptoKitties on it and the whole system ground to a halt. Also, there doesn't seem to be any limit on inflation -- I thought it was 3% per year but then read an article saying last year they had so much traffic it was 10%. WTF, why buy into something that inflates faster than USD? Then there's the whole "science experiment" aspect to ETH -- sure, we're gonna build something new and then hard fork and everyone has to migrate, yay! Oh no, someone hacked our code, gotta hard fork to undo those transactions, no problem! Hey I had a great idea let's make it have tapdancing robots and we'll just hard fork, cool!

And I DON'T think there is room for more than one. Despite all the "we built a model and it's going to moon" shitposting, IMHO the real value of a unit of any crypto is directly related to its use in the real economy. Sure, some groups can artificially pump their price by limiting the exchanges they trade on and then buying and selling furiously to inflate volumes at their preferred prices, but those will eventually run out of cash to burn and will die.

For real value, whether Chinese capital flight or Russian oligarchs or Americans buying porn, the use in the real economy is what drives the price. More than one successful crypto just means both will have to share that real-world usage. If one eventually dominates, the other dies. And sitting on any crypto, just buying and hodling, means it will go unused in the real world and will die.

There is no reason for anything other than BTC to exist.

based

Ethereum is a meme. There is long term no value.

Pseudoanonymous networks like LN will be the only options.

DeFi is pointless noise. It's a bunch of kids selling DeFi food coins. Sound money is the only use case that matters.

Why do you think it doesn't matter? That means that china can 51% attack whenever they want.

You think decentralized finance is noise? you can get up to 80% apr using liquidity pools. some people are pulling off 8% a day.

What is your definition of "sound money"?

Yes, defi is noise. Those gains are temporary and ridiculous.

Sound money is fixed supply with maximum decentralization. Bitcoin is the only coin that matches that criteria.

>You think decentralized finance is noise? you can get up to 80% apr using liquidity pools. some people are pulling off 8% a day.
Do you think this can go forever without going bust and leaving a trail of slaughtering?
Most of smart contracts have admin access, and most of the devs have premined, so you know what happens next

>Sound money is fixed supply with maximum decentralization.

But that leads back to my first point, 66% of the miners are in china. China can nationalize the bitcoin miners whenever they want. Bitcoin is centralized in china. China can 51% bitcoin whenever they want. Doesn't that concern you?

What are your opinions on bitcoins transaction fees and transactions speeds? It got up to 55 dollars and 3 days during the 2018 bullrun. Do you think that is feasible for being the worlds money?

>Those gains are temporary and ridiculous.
But its just loaning money out. Are you against loaning money out for a fixed interest rate? Don't you want to be your own bank? What if they took those gains and put it into bitcoin, would it still be temporary and ridiculous?

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What about the smart contracts that are audited and are just simple liquidity pools, A.K.A. loaning? Would you be opposed to 5% APR liquidity pools?

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>you dont like what I like
I'm not for/against Maxi of anything, it's an opinion at the end of the day I will tirelessly defend your right to have an opinion different than mine
but you are extremely immature for wishing ill on anyone even more because you have disdain for them having a different opinion, grow up find God

Otherworldly reminder that Satoshi marketed Bitcoin as a "Peer to Peer Electronic Cash System" because the only way people would adopt it at first was if it was considered day to day money and not a store of wealth like gold. He knew that peoples perception of it would transition as time went on. Case in point, if it were meant as a normal everyday cash why only make 21 Million and deflationary? If he wanted just general E Cash he would've made something like Tether.

What are people staking for 8% interest daily?

Do you see this beautiful big ass on the picture? Thats great right?
You see, I have an extraordinary great taste.

So you can bet when I recommend you a project it will be same as good as the beautiful big ass on the left because of my great taste.

Thats it - if you´re not convinced yet you´re either gay or mentally retarded

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It was a Zig Forums post and I didn't copy it down, there's a lot of different ways to do it

twitter.com/ChainLinkGod/status/1296145163157254144?s=20

This guy pulls off 100% APR and he tells you how

I want to fill her womb with my seed and claim her as mine
>inb4 pede
only a virgin plebbitor can't distinguish between a fully grown teen v a child

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Decentalization is more than miners. It's the number of full nodes as well. If China started causing shit we would fork them out.

BTC transaction fees are working as designed. Daily cash usage will be moved to layer 2.

Loaning money on dumb contracts made by kids is just gambling on shitcoins. It's ridiculous behavior that goes against the very essence of what cryptocurrency is supposed to accomplish. You're a child with no true vision.

BTC isn't money.

>china fud
stop browsing Zig Forums it's more of a rational state actor than the United States government will ever be
Fees and transactions speeds are fine for a layer 1 asset solution and the amount of wealth that can be transferred. Lightning (zap app for example) looks like it works very well but has zero adoption.
Defi right now is exactly what he said. The markets are inefficient and will be arbitraged over time. Look at the AMPL-ETH pool for example wasn't it 300% before, not it's only giving out 64%.