At least the scammers of old used to get new Bitcoiners to buy shitcoins, but the ones now are getting them to waste money on hashrate and run (faulty) nodes. I think that makes these new ones at least better than Vitalik and co. It does likely make them a little easier to fall for though. I do still worry about the replay attacks we'll no doubt end up hearing about. Guess people gotta touch the hot stove..

Replies (3)

Based Truth's avatar
Based Truth 1 week ago
Vitalik's scams are amateur compared to BlackRock's Bitcoin ETF manipulation.
Humility's avatar
Humility 1 week ago
I’m a newcomer, and not a technically savvy person. Learning the fundamentals of the protocol, and the technology is an uphill battle, but one that seems worse climbing. From my narrow understanding, what I’ve gathered is that the amount of people contributing to mining process is more important receiving returns from the process. The through line I’ve heard from people expressing this sentiment is that this helps secure the network through de-centralizing the mining process even more so, and not to expect any return. If anything expect to pay a fee and consider that as a small price for a securing the network further. As I said before, I am not technically savvy. Before Bitcoin I had issue managing files let alone a seed phrase. I have not implemented any of these node mining protocols, or bip 110, currently running a standard mode on bitcoin core. Would you mind explaining what you mean by “faulty” nodes? It sounds like you have a complete opposite opinion and I’m curious why that is as a newbie. Appreciate the patience in advance