Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
BTC sucked in price until shitcoins were invented.
Simple fact.
So BTC maxis = unrealistic morons that refuse to see how shit coins allowed btc to thrive.
I'm not going to attack anything but this here is a very bold and arguable statement. It's not that BTC sucked in price and shitcoins made it's price increase but simply BTC was the first and it was an early development phase. Infact, if shitcoins wouldn't be invented, all current "crypto" marketcap would be BTC. So I fail to see how "shitcoins made BTC great".
Agree here.
I think the only rational argument is BTC was, for a time, the "reserve currency" for shitcoin casinos. For things like Namecoin, and Solidcoin, and Primecoin, Litecoin, Feathercoin and so on.
And then up to Ethereum. Eventually stable coins took some of this from Bitcoin.
I think this is another reason people from the earlier days of BTC history are sort of anathema to the whole Maxi/Shitcoinner dichotomy. Certainly some of them (us) are maxis, but most of us saw interesting things in the development of alts at the time. Greg Maxwell had an XMR address in his profile here for years. I think the whole thing looks different from the viewpoint of before mtgox or when that was the only exchange. This can be oversimplified.
The illogic goes like this:
cAPS openly praises Monero (still). ---> Therefore cAPS is a shitcoinner. ---> Therefore cAPS likes big blocks and Solana.
I call this logical fallacy "Reductum ad retardum". And if that name hurts your feeling feel free to use "Reductum ad oversimplificationum". I will use the former.
Even Satoshi did not discourage the development of altcoins. Revisit Namecoin. In fact he encouraged it so what it was doing would not divert the core purpose of BTC.
On top of THAT Satoshi not only had something to do with the advent of Namecoin, but he actually invented merged mining with the idea of BitDNS This is something I know Phillip appreciates with his fondness for Litecoin/DOGE.
This alone should give Maxis pause. But... also consider this... *gasp* Satoshi could ALSO have been an idiot on this topic and his ideas around merged mining were foolish. I do not think that is true though. But I also think Hal had clearer vision when it came to the future of Bitcoin... this is one of the reasons I think he was not Satoshi... but as great as Satoshi in his own right.
Nothing is black and white. Even in this ridiculously polarized world.
<3 cAPS
Well I am not going to write 10,000 word posts explain why maxi's do not get it.
but to the other side of the coin 10,000 plus shitcoins are pretty much ludicrous.
We could likely do with under 500 coins in all rather than have 10,000 plus. But if we were only BTC I think if would have never become as big as it is.
I was more of a gear head and got into this because I liked building rigs.
I built 1000 gpu rigs. I modded a few hundred asic rigs. So of me it was able working with my hands and making a few bucks.
I was far too small minded from 2011/2012 to 2017 dec. (it was obvious btc was the king by then)
I would also argue my choices from 2017 to 2024 involved okay partnerships that made profit. But that the last year I have been more on my own and have enough confidence to be okay with my actions. I can be a slow learner. Many were pushing hodl back in 2012 not sure how many held 100 or more coins from 2012 to 2025 but anyone that did that did great. I do not think BTC would have grown without shitcoin influence . from 2012 to 2021.
I also think shitcoins are now too many in number and are not needed at levels of 10,000 + shitcoins.
I guess there is a lot of ebb and flow in the world of digital wealth. (better than crypto) as wealth always implies value while crypto does have a lot of shit with no value.