An important message to this community: We can do better!

WE, this community among others, are a problem in this space. If you did any of the following this cycle you are contributing to the harm of others and I want you to SERIOUSLY consider changing your behavior.

1) Recommending people borrow to buy Bitcoin. Saylor is especially guilty of this among many other things.

2) Promoted TA or price evangelism. Every single person who was parroting plan B, willywoo, tone vays, or anyone else's nonsense and downvoting common sense caution is a part of the problem and harming their peers.

3) Enabled shitcoins or shitcoin exchanges. You are giving these bad actors money, you are enabling risk for yourself, and if you are recommending any of these exchanges or products to others you are causing harm. A shitcoin exchange is only as safe as their competency and their shittiest shitcoin will allow, and that makes NONE of these services safe.

4) Spreading technical misinformation. Andreas is especially guilty of this but I've seen it from wallet manufacturers, from every media personality, and even some devs who get lost in their passion. If you want to understand something in the bitcoin ecosystem, use and share primary sources! Social media is no place to learn.

With that said, lets make this community better in the future and collectively dissuade the behaviors I'm talking about, as well as the social media cults that lead to people committing these errors. I don't think moderators should be handling these specific problems, I think these are organic community problems well within the rules and we need to address them ourselves.

To those who have been all along through the bull market cautioning every new user about 80% dips and social media personalities while 99% of people laughed, THANK YOU. You are doing the work this community desperately needs. To everyone else, lets do better tomorrow!

Obligatory deluge of bitcoin resources:

New users FAQ and Guide

Lopp's community aggregated resources covering everything you could want to know related to Bitcoin

The Core repo, issues, and discussion

The Bitcoin dev mailinglist

The Bitcoin stack exchange

The Bitcoin Improvement Proposals list

The r/bitcoin discord chatroom

The bitcoin irc chatroom

Obligatory deluge of lightning resources:

Lopp's aggregate community Lightning resources

Lightning labs Dev community resource list

Basis Of Lightning Technology BOLT specificiations

Lightning dev mailing list

An important message to this community: We can do better!

16 thoughts on “An important message to this community: We can do better!”

  1. If you want to be a true Bitcoin evangelist, the conversation shouldn’t even include fiat trading pairs. The conversation should revolve around leaving the old system for the new system.

  2. I hate the term ‘community’ as that is the term shitcoin scammers use when they want others to pump their bags and do their dirty work.

    Bitcoin does not need a community, it will naturally grow in adoption because it’s the best possible money.

    But I will indulge you: imo every “investment”/fiat price type post should be redirected to r/BitcoinMarkets.

    Bitcoin should not be seen as an investment, at least in the traditional finance scope. It’s a monetary (r)evolution, and everyone here trying to invest to sell later is just here for the wrong reasons.

    The fact that so much fiat price speculation discussion continues to occur here is a bit disheartening.

  3. Also, people here should encourage others to actually use Bitcoin in their daily lives, not just HODL in hardware wallets for 10 years.

    Adoption is key!

  4. Hear hear!

    Greed driven and repetitive price speculative post are killing this community. Just delete block or ban them…they add nothing and drown out useful, thoughtful and informative posts. Well-Kept Gardens Die By Pacifism.

  5. Lets not forget the development of the Lightning network or running a lightning node

  6. I like your suggestions for the most part but please help me out by being specific as to what technical misinformation Andreas is spreading?

  7. > Recommending people borrow to buy Bitcoin. Saylor is especially guilty of this among many other things.

    Being leveraged in life is somewhat normal. Eg, if you want to have a mortgage and you have a job and can pay it, then do that. You don’t have to pay off your house before getting into bitcoin, but I would say you shouldn’t take a HELOC to buy bitcoin. Bitcoin should be bought with money you don’t need. But leverage is okay.

    > Plan B

    Plan B is fine, people saw Stock to flow and saw a possible price signal and get caught up in fantasies, but that’s okay, he has also said it’s just one factor. But I still think Stock to Flow was a good idea. How was it supposed to model the China Ban, or DeFi blowups. I think Stock to flow is a good simple model. Also, a rising price is a good thing for bitcoin, let’s admit it. It lets more of the fiat world get into bitcoin and use it for more use cases. If bitcoin stays small in “market cap” or liquidity and the ability to sustain a (fairly?) steady price while value goes in and out in trade, then it would not be as useful to people.

    > Exchanges

    They’re a problem. We need more KYC-free bitcoin to enter bitcoin at the edges, maybe via Lightning Network, in small amounts, rising over time, and get free of the Exchanges. Some exchanges seem good (Kraken) but they’re still centralized, and have to follow fiat world laws and rules – Bleh.

    At some point it would be great if we could eliminate (repeal, stop using, stop participating, in general build and develop PEACEFUL resistance and political action against these anti-capitalist / elitist / authoritarian / and inhuman structures) : or ignore – whatever is most appropriate) the real causes of our problems:

    1. the Bank Secrecy Act – repeal it!
    2. FATF – the Financial Action Task Force – unelected! do not obey!
    3. the larger political world that thinks sanctions help (when actually they just help out dictators versus their people) – take the recent Russia/Ukraine conflict – my cards on the table, I am pro-Ukraine – but who will sanctions hurt? Is Russian Oil companies hurting? maybe its just normal Russians that hurt. Of course it would be good if the Russian people would stop supporting War
    4. IMF
    5. BIS
    6. WEF
  8. NGU is critical for bitcoin’s security, incentive structure(s), and early phase growth. Nobody comes to bitcoin initially to free the world, that’s something they stick around for or enable by both acquiring knowledge, and taking some of the supply away. I think a mix of secular memes, development news, political, historical, economic, and straight shit talk is necessary no?

  9. I think using ‘we’ in this context is an overgeneralization and therefore I disagree that “we” are a problem in this space. Sure, some people are a problem.

    I never recommend buying bitcoin with money you don’t have or can’t afford to lose. But I post Saylor interviews with mainstream media because (as much as I despise the press) I think press coverage is important. I don’t even care for Saylor very much and I generally oppose his views on using margin and also his views on regulation. I try to post other interesting media coverage too when I encounter it.

    I discourage price evangelism but I think some TA models are interesting and entertaining. I certainly don’t treat it as anything more than an attempt at statistical astrology, but I think it’s better to have price speculation backed by an attempted explanation rather than just “too the moon” nonsense. If you’re taking financial advice from social media, you’re going to have a bad time.

    The Bitcoin-only exchange options are pretty slim, especially outside the US. Off the top of my head, there’s CashApp, River, Swan, and Bull Bitcoin (Canada). Pretty much every other exchange offers shitcoins. I like using Kraken because I think Jesse Powell has a pretty solid ethos. Do I encourage Kraken offering shitcoins? Of course not.

    I’m no fan of Andreas, but he wasn’t the only one muddying the waters with regard to technical developments. I’m not going to name names because I don’t want to start fights or create bad blood. I do think that social media cliques and cults of personality are really problematic, although most of that is happening on Twitter.

    Can we do better? Always.

    Are “we” the problem? It’s not that simple.

  10. That link you sent to supposedly answer my question about “specifics as to the technical misinformation Andreas is spreading” was mostly opinions, other than your reference to the BIP for CheckTemplateVerify (CTV) which still didn’t spell out the misinformation Andreas was spreading.

  11. I never demanded a link. I just asked you to be more specific about the misinformation. I’ll check it out myself. I will not rely on your opinions.

  12. We don’t have to do this. A great system is where everyone can act selfishly but overall it’s still good for the system.

    Bitcoin is a great system where there’s no rules other than what’s written in the code.

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