I know that some big BTC HODLers are very good about this; they tend not to be the ones who sneer at little altcoins for having a “dev tax”, for they understand that developers need to be paid somehow.
Fuck shitcoins and your seemingly holier than thou attempts to inject their discussion in this thread as if the various compare and contrast cost/benefits are as very relevant at all to our discussion in these here parts as you are trying to make them out to be through your implicit denigration of our lil precious too..
You are lamentably mistaken about my intents.
I seek to shame cAPSLOCK for his apparently self-entitled attitude towards Bitcoin. If he has never donated to support Core development, or otherwise Bitcoinland open-source development, then he is like a welfare bum demanding that others enrich him with freebies—even as he unconscionably sneers at a little altcoin project, which could never have existed without its self-funding mechanism (a.k.a. the “dev tax”).
I have thus a purpose greater than petty argumentation:
To encourage WO regulars to support Bitcoin Core. To support development financially, in the sense of “put your money
where your money is”.
I am NOT addressing sat-stackers and shrimps; heaven knows, I know what it is like to be in a position where you are scrimping for every sat. But when you get yourself up to at least a few BTC, then you should start seriously thinking about this; and if you have >= 10 BTC, a small amount for most people who have been in BTC for at least 8–10 years, then it is
rational self-interest to support development. Because Bitcoin ultimately stands on a foundation built by its world-class excellent developers! If development were ever to stall out or degrade in quality, then Bitcoin would suck; and your number would go down in a competitive world, where BTC is
not the only option.
That said, I pick on cAPSLOCK because he deserves it. The way this line of discussion started:
cAPSLOCK defamed and cussed out Tyler Winklevoss, a big BTC HODLer who, with his ingeminate brother Cameron, were the twin Saylors of an era when Saylor himself dismissed Bitcoin. By comparison to Saylor, the Winklevi didn’t have much for stacking sats—only a few measly millions, with which they had accumulated 1% of the outstanding BTC supply as of 2012. They bet on BTC big-time! And they bet big on Bitcoin at a time when, according to one of my own recent posts:
Bitcoin was still riddled with Ponzis and High Yield Investment scams in 2012. Only a visionary with extreme risk tolerance would have taken any significant financial risk on it then.
Thus in the 2017 bull run, they became on paper the world’s first “Bitcoin billionaires”. I don’t know of any evidence that they turned against the source of their wealth, as some early Bitcoiners did. And as centralized exchanges go, their Gemini exchange is reasonably pro-Bitcoin—definitely not anti-Bitcoin like
cAPSLOCK’s preferred exchange, Coinbase!cAPSLOCK effectually accused Tyler Winklevoss of taking payola from Zcash’s “dev tax” to make
a tweet supporting the right to privacy. What the hell?
I don’t do “batslaps”, Jay. I have my own way. And I found in this a salutary way to campaign for HODLers, who benefit from Bitcoin, to give something back. If you take care of Bitcoin, then Bitcoin will take care of you. Bitcoin cannot take care of itself,
for it has no “dev tax”.As I mentioned in some of my recent posts, some BTC whales, big businesses, and exchanges are very good about this. That is why Bitcoin is what it is today:
Somebody pays for development.I recently wrote some long posts praising Blockstream for being,
insofar as I can see, a company that looks like it’s essentially run to advance Bitcoin development with developers on their payroll. For another example, the BitMEX exchange is well-known for its development funding grants; that is why I tend to be sympathetic to BitMEX, and I have defended their reputation in controversies, even though I have never used BitMEX and I have no financial interest in them. I have also had private discussions about this with Bitcoiners who have
large BTC hodlings, who despise WO and all other speculation venues. They are generous towards Core development. All HODLers benefit. If you have a not-insignificant HODLing—if you want Bitcoin to make you rich—then I suggest that you should think long-term about the foundation on which your riches are reposed. Funding for Bitcoin Core development is an investment in Bitcoin’s long-term health and prosperity.!~