the incentives in the bitcoin industry are all fucked up
scammers make bank while the people that try to do the right thing get fucked continuously
maybe its unavoidable but it hurts the soul
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Replies (92)
Fiat system working as they have designed it…
Unfortunately we are still early but eventually we will win
I bet Simon Dixon would agree 😂
I just wanna see more plebs not getting screwed over by the big seed companies anymore!
But better incentives than everything else as far as I can tell.
If we stop to throw rocks at every dog that barks, we'll never reach our destination. 🤷
(Churchill, I think)
This system isn’t broken. It’s working the way that it’s supposed to.
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put the bong down, this comment makes no sense
😅👍
Scammers will always find a way. Need to be able to identify them
probably better off just staying humble and stacking sats. seems to pay off in the end
great advice
and most people probably should not work in bitcoin
but also we need good people to take that additional risk
hey any work is bitcoin work as long as it goes to sats
It’s the scammers who lose their soul. I don’t wish ill upon them because, in the end, you reap what you sow.
Middlemen get to extract all the value.
Doing the right thing is a costly decision.
Same as it always has been.
I'm down like 2 BTC trying to setup no kyc payments and easy developer APIs services over the last 5 years. I give up
In the short run .. yes ..
But #bitcoin is all about LOOOONG
This.
Fiat must die for things to make sense
It’s like politics. The nature of the system (power, term thinking) attracts certain types of individuals. So we end up with the political landscape we have.
The same selfish opportunists look at bitcoin and see the same playbook. Yearning optimists eager for solutions. So they either make, take over, or peddle pseudos to enrich themselves.
Damn, ever applied to opensats to help bankroll your work?
Yup. Middlemen, sometimes enabled by crony laws, get the best work-done/value-gained ratio.
Well for what it’s worth - you (among many) that helped me get from sub-zero to say Mazlow level 2.
Not competent in any way to help your struggle.
But thank you for the education.
scammers posting about scammers hurting their feelings
We keep winning Matthew.
Stay the course.
Truth is even if u tell them truth somehow they don't care.
feel you
im down 5 bitcoin on bitcoin park alone
First of all, I think we need to stop referring to it as an industry. It's money, just stack money (sats)
Excluding mining, if there is an industry. Assume you're probably being scammed.
Bad actors always show up where there’s opportunity.
That’s not a flaw of Bitcoin, that’s human nature.
I feel seen
Bitcoin is ready to be unit of account. Anything else is distraction.
It does
But it's not only in the Bitcoin industry, it happens in many places unfortunately, but we just have to keep working, there's no other choice 🤙
I would add that mining is not an industry. They are employees of the network and they are only profitable at current hashrate while there is still coinbase to be earned. Over the next decade many will unplug.
Shitcoiners put dickbutts on the time chain hurting everyone
Honestly I dont know how you and a core group of others do it. Working in fiat- land, completely outside of *the industry*, then stacking knowledge + sats is way easier, even if a bit of a soul-crush on some days.
Just realize that many are feeding off of your conviction + comitment to making the world a better place. 🙏
The richest people in the world are all scammers
I haven't been able to figure out the concept of a 'bitcoin company' in the context of anything I'm attempting to do. I have ended up suspicious of the contruct of a company in the first place. Is it necessary without a state? Is there more to it than a method of ameliorating tax obligations?
In the end, truth and purity shall prosper⏳💫
Scammers optimize for fiat metrics. Impressions, hype cycles, exit liquidity. Honest builders optimize for something the market doesn't price yet. That's the whole problem. Low time preference is a competitive disadvantage until it suddenly isn't.
... the industry ...
I cannot understand the negativity.
For my part, I meet the best people at bitcoin meetups. Empathic, intelligent, enthusiastic just fun to hang around with. These people will not go away because of ... the industry.
its everywhere Matt, it hurts here because you know some of them (most) and you may have considered "friends", that is until they show the true color.. It is not even a Bitcoin thing it is like a normal long Con game that Bitcoin makes exponential..
Brother, that's pretty much everywhere these days. The culture is broken.
As guys once said on RHR “everyone’s a scammer”, especially in this industry
And to make matters worse, the scammers call themselves "Christians"
Who or what are you referring to?
yeah, No kyc money was the primary reason i got into BTC. But more of those doors are closing than opening. Too many pseudo bitcoiners playing by the suits rules to make a buck -Strike, et al
what is the right thing? make bitcoin data storage and shit? Bitcoin is money. it's simple and clear.
the incentives reward extraction, not construction. that's why building honest infrastructure feels like pushing a boulder uphill. how do we realign the system to value creation over capture?
Scammers have no real friends (and they know it), the honest win there. I definitely wouldn’t swap my friends for a Porsche.
What I visualize reading this post
BIP110 proposes to fix incentives and screw the scammers but even though you re so soul hurt about the problem you somehow have found a way to justify not supporting it while being close friend of some of the worst scammers. Can't you see the performative contradiction?
The universe bends towards justice. Nature abhors a scammer
Its a brave new world out there
Glad I’m not the only one that saw that.
i am not a “close friend of some of the worst scammers”
bip110 is reckless and unnecessary
anyone using mob tactics, lies, and character attacks to pressure people into forking bitcoin can go fuck themselves
Hello I’m Edwin Castro the winner of 2.3billion power ball lottery , im helping random people text me if you could use some help maybe in your business or investment…we rise by lifting others.
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Core lost the reference implementation status by using exactly those tactics
Lies?
Thank you for consistently being one of the good ones, Odell.
Keep being the change you want to see. I appreciate you.
I can only imagine I know where you’re coming from, but I think I share the disheartenment.
Fiat is the retardation that just…keeps…going. It should disappear overnight. For so many reasons.
Yet the most important change in multiple generations of lifetimes - which is in EVERYONE’s face now - is somehow still just an investment sideshow.
A large part of it (in your world, if I can mind-read you) is that people who are intelligent and dynamic are continually profoundly stupid.
My only rationale is to remember that Bitcoin was created by Cypherpunks. It ONLY EXISTS because of that ethos. Anyone who doesn’t walk that walk (i.e. so many Saylors and OGs) I simply listen to, but don’t vouch.
Yes. Time to leave the ship & stack some gold while it's still a couple of ounces worth... We'll come back later as we can definitively see the scarcity property of BTC is not really a theme yet.
Those of you who might actually be interested to stack gold with BTC, here's a link & it's not a personal ref link or whatever... Just trying to direct to a reliable source:
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Who got fucked?
Good things take time... now is the time to plant our seeds, in harsh conditions! Stay true fam <3
Figures you would not have faith in something new, you like the way it is it seems. You are a scammer.
I think Matt is losing the plot.
He is too big to stay humble these days.
I suppose time time will tell.
Too bad, another one lost.
Tough life. No wonder you cant see the forest through the trees.
Incentives on bitcoin are fine, it's all the fiat shit being injected into bitcoin that is a problem.
Its will work itself out eventually.
Remever to stay humble friend.
Bip110
I have been warning others about this for six years now. If the big #bitcoin podcasters don’t start addressing the greater ideology, bitcoin won’t change much for those who needed it the most.
I’ve noticed.
It sucks to see it, but we need to demonstrate the Integrity we seek no matter what.
the incentive in society at large, try finding an actually useful and interesting job in the fiat mines
It's not unavoidable
You’re right about that, @ODELL!
In the past, I believed that banks were fundamental pieces in the development of demands in the world.
But with a little more maturation of my ideas, I realize that they are accomplices of a modern slavery; where keeping us away from perceived reality is the reason they exist.
View quoted note →
Who told you that you are doing the right thing by funding shitcoin core devs and not supporting BIP110?
Bitcoin Funding Industrial Complex (including people like you, NVK and Gladstein) are as bad as scammers make bank from the plebs or monetary maximalist pov so, please just keep posting "Stay Humble and Stack Sats" and continue being coretard.
Everything flipped so fast. But we must stay strong! 💪
Some people are just a waste of oxygen in general
The existing systems of capital, information, innovation and trust are all designed to encourage extraction and debt, instead of building and wealth. Bitcoin is the first successful system of the wealth based world, and we are feeling the storms of extraction all around us. Stay steady, and keep your eyes on the horizon. We will get through this.
That doesn't mean you should join the scammers, Odell.
Can't block here Luke 🤡
The worst beard in the business appears
BipDeezNuts
Isn't it the same in almost any industry? Because most people don't have the capacity or desire to seek the truth.
Great point. Super helpful.
Yes. And you are one of the reasons why, as demonstrated here:
bip110 is not about stopping spam.
it wont stop spam.
bip110 is about ego and control for mechanic and luke.
so they riled up a mob to try to push through a hostile fork of bitcoin giving them complete control.
when the fork fails they will try to threaten miners into a chain reorg. reversing thousands of bitcoin payments in the process.
it is an attack on bitcoin and it will fail.
bitcoin is the best money. if you care about it then reject reckless forks.
View quoted note →
Double speak
You should have stopped after this note.