The War On Bitcoin Is Proof Crypto Is Winning

Authored by Ton Luongo,

It’s clear to me now that Wall St. is behind the failure of the New York Agreement. Roger Ver and his championing Bitcoin Cash was used as a stalking horse to destroy Bitcoin’s ability to function in the marketplace.

But, it is this very kind of attack that betrays the weakness of their position.

The news of the week is payment processor Stripe just dropped Bitcoin as a means of payment saying the fateful words, “It fails as a currency.”

From the post at RT:

“Over the past year or two, as block size limits have been reached, bitcoin has evolved to become better-suited to being an asset than being a means of exchange,” the company said in a statement.

That’s the bad news.

The good news is that Stripe still believes in cryptocurrencies, just not Bitcoin. The company’s statement makes it clear it understands the issues and that other projects may be suitable for future needs, most notably Litecoin and Steller Lumens.

Stripe added that it remains bullish on cryptocurrencies, naming the most promising projects, including Lightning, OmiseGO, Ethereum, Bitcoin Cash, and Litecoin. The company will probably include Stellar cryptocurrency in the list of services it provides.

What becomes immediately obvious is that governments and the banking industry/cartel are fighting a war of attrition against cryptocurrencies. By consistently throwing up roadblocks, perceived or real, to their adoption, they seek to simply slow down their development as a challenge to the existing financial order.

Ultimately, this is a good thing...

First They Laugh At You

Then They Fight You

Then You Win.

Never Attack Down

The establishment never attacks down if it isn’t fundamentally threatened by something or someone. It’s the first rule of politics.

In 2008, Rudy Guiliani ended his political career by attacking Ron Paul at an early primary debate. In their hubris, they thought they could blind-side and intimidate Dr. Paul by allowing then front-runner Adolph Rudolph Guiliani to grandstand on 9/11 to boost himself to the Republican nomination.

Dr. Paul stood his ground and famously said “NO!” and then proceeded to bring up the concept of blowback. It awoke an entire generation that there was someone running for President who wasn’t a complete tool.

Guiliani was soon hounded out of the race and Dr. Paul started the counter-revolution here in the U.S. that culminated in Donald Trump’s election in 2016.

Guiliani’s mistake was attacking down. In politics, the front-runner has everything to lose in engaging with someone below him in the polls. It’s a sign of weakness and insecurity in your lead. By even acknowledging Paul’s presence on the stage to score cheap points, Guiliani showed weakness and Paul became a rock star.

The Future is Bright

I know we’re on the right track here because they are fighting cryptos in the trenches now. And they are trying to kill the momentum of crypto being on everyone’s lips. While the DOW is at all-time highs all anyone can talk about is Bitcoin.

Think about that for a second.

And then think about what’s coming next. Because you can see what’s happening within the market. The applications platforms projects like Ethereum, EOS, STEEM, NEO, OMG, KMD and others are all not only holding onto most of their 2017 gains, they are also the first to rally on any bullish day, outperforming Bitcoin and most of the alternate currency coins like BTG, BCH, LTC and the privacy coins.

It’s especially gratifying to see STEEM do this.

STEEM is now in the top-25 of all cryptos by marketcap.  And considering that Steem held as Steem Power is proportional to your voting power withing the network, using the term “market cap” for STEEM is appropriate.

steem

The only one of these offerings with a widely-used working product and a thriving user-base is not only attracting financial capital but intellectual and human capital (the most important kinds) at the right moment in the story.

It’ll be the growth of STEEM which helps spear-head the acceptance of these other blockchain-based projects. It’s frankly silly to see all of the developers on sites like Medium but not here. This place is the best advertisement for the potential of their products. It’s not the competition, it’s their advertising platform.

So, keep this in mind when you see yet another post on here about Bitcoin dropping. The Empire is striking back because it has to.

Comments

auricle Antifaschistische Fri, 01/26/2018 - 00:56 Permalink

Allowing all these sham ICO's to come into existence is going to do far more damage than regulators. When the ICO bubble bursts a lot of market cap will evaporate and with it people's desire to be in the space at all. Many people think they are investing in a stock. In reality they are giving away money. 

In reply to by Antifaschistische

Klassenfeind auricle Fri, 01/26/2018 - 02:17 Permalink

Tom is just another Gainesvillage Fool, paid to write clickbait and pump-and-dump articles for Zh.

He wrote 2 consecutive articles about Italian politics, and each time he managed to misspell the name of Lega Nord. On day one he called it "Leag Norda" and on day two he almost managed to get it right when he called it "Lega Norda."

Back on topic, I doubt that there is a real "war" on cryptos. What Western (US, Canada, EU etc.) government has outlawed cryptos? Name ONE Tom! The only countries that have outlawed them are China and Russia, there was a nice map on ZH a few days ago.

The reason cryptos might be tanking is because people are figuring out that it's a hype and that they are having trouble locating Greater Fools?

In reply to by auricle

HRClinton WTFRLY Thu, 01/25/2018 - 16:27 Permalink

First they [1] Ignore you, then they [2] Ridicule you, then they [3] Attack you, and finally they either [4] Control you or Join you.

They* are at the Ridicule / Attack junction.

   * CB and (((Global-Lusts)))

Got clarity?  Got CC?  It's decentralized, CB-free, market driven. Get some and get some Freedom.

 

p.s. from yesterday's ZH article...

https://www.zerohedge.com/news/2018-01-24/look-who-owns-bitcoin-and-why#section-comments

But who exactly owns bitcoin? While nearly 60% of Americans say they've heard of it, only 5% of people own bitcoin, according to Bloomberg. At least that's what a joint study by SurveyMonkey and Global Blockchain Business Council determined...

An overwhelming 71% of them are male. The majority - 58% - are young, between the ages of 18 and 34 years old. 

 x x x x x x x x 

I'm guessing that Moldtimers are at the tail end of the Adoption Curve because they lack funds, imagination or financial courage to diversify into CC. 

In reply to by WTFRLY

silvermail Apeman Thu, 01/25/2018 - 14:47 Permalink

The financial nature of gold is that gold itself is a value, - as a material for making jewelry.

Bitcoin and all the other so-called crypto-currencies have two components - technological and financial.

- The technological part nature of bitcoin - it is a technological shell. That is, it is a wrapper (mask) in the form of blockchain and crypto technology, in which the financial nature Bitcoin is packed (hidden).
- Financial nature bitcoin - it is a pyramid, - the Ponzi scheme.

Because the growth of the imaginary value of bitcoin, is due solely to the influx of new idiots into this financial pyramid.
The growth of the imaginary value of Bitcoin is not due to anything else.
The growth of the value of the asset solely due to the influx of new idiots into the Ponzi scheme is the main sign of all financial pyramids.

But as soon as you try to explain this to any member of the bitcoin witness sect, they will immediately start dragging the conversation into the plane of bitcoin technology.

They, like any sectarians blindly believe and therefore do not want to talk about the most important thing - about the financial nature of bitcoin.
They are ready to talk for hours about bitcoin technologies only - about blockchain and crypto technology only.
That is, they are ready to talk only about that high-tech wrapper, which wraps (hidden) the usual nature financial pyramid Bitcoin and all others usual financial pyramid, in the shape of all the others so-called crypto-currencies.

(Pseudo crypto + pseudo currency) =  (usual financial pyramid), which is just hidden in the an unusual high tech mask packed.

Nevertheless, the very idea of ​​obtaining wealth without difficulty, at all times successfully enslave the consciousness of the mass of fools. And various ingenious swindlers, at all times, have successfully used this feature of the stupid masses of the people.

In reply to by Apeman

Hoffman Lenz silvermail Thu, 01/25/2018 - 15:33 Permalink

Thoughts:
A ponzi scheme takes money from people coming in lower down the pyramid and giving to those higher up. This can continue until all the money in the world ends up one pyramid, with diminishing returns for late-comers.

There are a maximum of 21,000,000 bitcoins available (each broken down to 8 decimal places), which puts a maximum on the 'ponzi' as you call it. 2,100,000,000,000,000 units (not the max but the returns are zero for miners). This is a natural limit, and as I see it, will ultimately decide the value of a bitcoin (price discovery?).

The earliest people into bitcoin haven't been trying to dupe others into buying bitcoin, which is generally the nature of a ponzi. It's been going nearly 10 years and it's only recently that most people have heard about it. The early people just saw it as an alternative. Whether they were criminals, or kids having fun, finding ways to use their computers other than games, it really doesn't matter. No-one is forcing anyone to use/exchange cc's or using any 'here's a free vacuum cleaner when you join up' bullshit.

For us 'small' people, the financial markets are hazardous, to say the least. I don't have enough returns on my money invested to spend all day analyzing markets for the next buy/sell. I have to have a job. It's clear that all those markets are fixed so that the 'big' people are going to turn me over at some point.

The value of bitcoin has risen dramatically because, well, what is left for us? QE has destroyed markets and devalued currencies. And it's centrally controlled. A couple of people on opposite sides of the world can keep a cc running.

Not really arguing, though I think your wrong about it being a ponzi. I think cc's don't fit into our current financial models because they are decentralised, so they're hard to place. Just putting thoughts to words. Still trying to figure it out myself.

In reply to by silvermail

silvermail Hoffman Lenz Thu, 01/25/2018 - 17:39 Permalink

You would be right, if not for one "but".

The financial nature of any so-called crypto-currencies - is inflationary!
Infinite growth in the value of an asset in conjunction with the infinite fractionality of an asset is the inflationary nature of the asset.
Macro world and micro world are two infinity.
Therefore, the so-called crypto-currencies - this asset is exclusively inflationary, like any other fiat currency.

In reply to by Hoffman Lenz

Mister Ponzi silvermail Fri, 01/26/2018 - 10:56 Permalink

You have no idea what you are talking about. Fractionality has nothing to do with inflation. Look up the meaning of 'fiat'. And by your definition of a 'Ponzi scheme' any market with limited supply would be one. There may be a bubble and the assessment of value for many of the coins may be overly optimistic. Who knows. But that doesn't mean it is a Ponzi.

In reply to by silvermail

blentus A L I E N Thu, 01/25/2018 - 14:09 Permalink

Could you, please, provide 'support from original developers for Bitcoin Cash', instead of picking a random forum post from years ago, taking it out of the context and pretending how it has anything to do with Bitcoin Cash or 'original Satoshi vision' or whatever the fuck is the current flavor of the month?

Also, are you implying that there are no 'original developers' involved and supporting Bitcoin?

In reply to by A L I E N

A L I E N blentus Thu, 01/25/2018 - 14:48 Permalink

Sure, Gavin was the original dev working with Satoshi on Bitcoin. Most of the original lead devs like Gavin and Mike Hearn have been ousted by Blockstream a private company backed by the traditional banking system.  Blockstream controls much of the deveolement in Bitcoin now.

"Gavin Andresen Drops Bombshell: Bitcoin Cash is the Real BTC"

https://twitter.com/gavinandresen/status/929377620000681984

In reply to by blentus

blentus A L I E N Thu, 01/25/2018 - 15:30 Permalink

I did not ask for a crash-course in your perception of history.

So far, you have managed to point to a twitter post from ex-BTC developer and... fuck all else.

You do realize that you live in times when it is extremely easy to verify idiotic claims made by people online? No?

Also, you don't really need to convince me, I've been in Bitcoin world since 2011, but if you are planning to convince someone else you really need to do much better.

For example - tell me, how many developers contribute to Bitcoin development? How many of those are employed by Blockstream? Does that count include Gregory too?

What are your thoughts on deadalnix pulling so much code from Bitcoin-core and other places (and even removing copyright notices)?

I mean, after all, Bitcoin Cash has plenty of developers (yeah, I am being sarcastic) and support from original Bitcoin developers, you surely must dislike a lead (sole) programmer taking the code from project you all hate so much and integrating it into your "Satoshi's vision" holy grail?

No?

How do you feel about BCash developers planning to re-enable various op-codes, as they see fit? If you respect Gavin so much, let me remind you what he said (after Satoshi and himself disabled many op-codes long ago):

"before enabling new opcodes, I'd like to see a peer-reviewed academic-style paper that works through the security implications of the existing set of opcodes and gives a nice framework for thinking about new (or disabled old) opcodes. Doing that is way outside my own personal level of expertise; I know only enough about designing secure algorithms to know that I  have no idea whether or not re-enabling OP_XOR would have security implications for bitcoin."

So, even Gavin (who you obviously praise so much) didn't feel comfortable enabling those op-codes without having serious peer review, but bunch of mediocre BCash fans are going to enable it in easy-peasy fashion, right? Just like Jeff forked S2X, eh?

Technical expertise on BCash side is really something.

What are your thoughts on fake Satoshi (aka Craig Wright) announcing how Bitcoin Cash will get support for Confidential Transactions? I mean, just another thing which neither he nor team at BCash worked on at all, ever, but will be taken and 'integrated' as if it is something made by Bitcoin Cash.

I mean, original fucking vision, great team of developers, best "evangelists" one could imagine...

Yeah, Bitcoin Cash has incredibly bright future.

There is absolutely nothing that separates Bitcoin Cash from all those dozens (hundreds) of shit coins out there. The only difference is that it is trying to ride on Bitcoin name. And nothing else.

One day people will realize that the only currencies/technologies that will survive will be the technologies that are decentralized and resistant to easiest of attacks (aka 'shutdown by a government body' attack). For real. Not on paper or in theory. But in practice. Nothing else matters.

So far, it seems that maybe 4-5 crypto currencies have achieved this goal.

BCash is not one of them.

In reply to by A L I E N

A L I E N blentus Thu, 01/25/2018 - 15:45 Permalink

Wow you can regurgitate the irrelevant blockstream talking points nicely.  We'll see how well your non P2P bitcoin legacy coin is able to lose market share in 2018 just like the last couple years the blocks have been full.  How many of the 10K Bitpay merchants are going to use bitcoin legacy when Bitcoin Cash is implemented this quarter?  Also Lightening is a scaling joke that is not exclusive to BTC.  LTC, BCH and most other coins will also have LN.  I don't need to give you any more free advice though since you like most bitcoin legacy shills don't actually use Bitcoin.

In reply to by blentus

blentus A L I E N Thu, 01/25/2018 - 16:08 Permalink

Could you actually answer to any of the questions, or provide some more concrete data?

Or you prefer talking nonsense, predicting future and spewing shit?

But to answer your questions anyway...

1. I do not know what are 'blockstream talking points'. You don't seem to even understand who works for Blockstream or what it is. I don't give a fuck about them, though.

2. To be technically correct, blocks are not full. It was only days ago that the largest (almost 'full') block was mined for the first time. I don't like that blocks get full, but I understand why it's happening and why certain design decisions were made (hint: in my real life, I need to solve problems by other means than just throwing more hardware/RAM at the problem). By proper technical people, thank fucking god. Not by monkeys who got lucky at some point in time and think they know everything about everything.

3. I don't know (nor care) how many Bitpay merchants will use BCash. Neither do you. Idiotic point.

4. It is not "Lightening". It is "Lightning Network" (LN). You could probably clarify why you think it is a "scaling joke", since you seem to know a lot about scaling.

5. It is not exclusive, noone said it was and it never was intended to be. It was primarily designed/implemented with Bitcoin in mind, but obviously anyone is free to use it as well (LTC does). Just like CTs, CJ and many other things.

6. You are not giving me free advice. You are pretty much spewing nonsense.

7. I use Bitcoin. I use Ledger wallets. Obviously, I also know what Segwit is and have been using it for a long time (well, since September last year or so). How about you? You ever actually used anything or you just like debating on the Internet?

edit: actually, I don't remember if it was September or October, in regards to Segwit. I am an old fart, fuck if I can keep track of those little shits.

In reply to by A L I E N

A L I E N blentus Thu, 01/25/2018 - 16:31 Permalink

Your knowledge is obviously too limited to discuss the technical aspects as to why LN is a joke for scaling Bitcoin (which again is not exclusive to BTC).  There are plenty of sources to do your own research.  The market will decide who the winner is and I have no doubt who it will be.  There is a reason BTC went from having 90% of the total market cap to the 34% it is today.  Participants have looked to other coins to fill the roll BTC is failing to provide.  Best of luck.

In reply to by blentus

silvermail Herodotus Thu, 01/25/2018 - 14:55 Permalink

Crypto currency is not money. Because the very concept of money means first of all "goods".
Money is such a universal goods, what the whole take market participant agrees to accept as payment for their goods, works and services.
This means that money (like "goods") has intrinsic value.

Currencies have no intrinsic value.
A currency is only a receipt for money, - a promise of money.
Currencies are only equivalents of the value of real goods.
That is, currencies are not a value, but only a means of measuring the value of real goods-goods, works and services.

The so-called crypto-currencies, like any other currency, are also not a value. Crypto currency has no intrinsic value.

Then please think about the question:
The value of what exactly reflects and expresses the crypto-currencies, if the net value of the basket of all world goods (goods, works and services) is already taken into account, reflected and expressed in the form of a basket of world currencies?

The answer to this question will automatically lead you to the logical conclusion that any crypto currencies are only financial pyramids, Ponzi schemes.

In reply to by Herodotus