Observations About The Bitcoin Project

Having been involved with crypto for many years now, there are a few points that I would like to make, based on my observations.

Observation 1) The Bitcoin project has already been hijacked by Blockstream, likely with the backing of government actors. 2 years ago, I wrote about some evidence suggesting this at https://read.cash/@MobTwo/bitcoin-cash-is-under-attack-and-we-need-your-help-727c6939

I cannot think of anyone else so motivated as to waste money over the past 5 years trying to undermine the efforts of Bitcoin Cash. By now, it is obvious. BTC’s Lightning Network is collaborating with existing government actors such as World Economic Forum and BTC’s Lightning Network was listed on the World Economic Forum’s website. Cory Fields, a BTC developer, is working with the Federal Reserve to create a CBDC (Central Bank Digital Currency).

We could also see a shift in how banks and institutions, normally hostile towards cryptocurrencies are suddenly singing the praises of BTC. It is also not surprising to see traditional media and government employees singing the praises of BTC, since the US government has control over the project.

Observation 2) I was very disappointed about how the whole project derailed. I genuinely believe in the benefits of peer to peer money for the world. I was an idealist but I am also pragmatic. It is easy to criticize people like Adam Back or Cory Fields for working with the government. I would argue that good people will do bad things if being forced to.

Why would someone like Adam Back suddenly changed from supporting blocksize increase to sabotaging the project? Because if we were being coerced to do something, we would probably have done the same thing. The same way soldiers were made to commit war crimes and kill innocent children. I have no doubt many soldiers are good decent people, yet they will do bad things when they are being instructed to. It is hard to say no especially when the instructions are accompanied by coercion.

Observation 3) It is my opinion that the current crypto market is heavily manipulated by the fraudulent Tethers and their cartel of insiders. I could list down all the data points suggesting this but unfortunately, I’m just not interested enough to spend more time on this. If one were to spend enough time googling, it would be easy to find evidence of fraud all over Tether USDT.

Observation 4) An inflationary monetary system benefits the early recipients of those money while a deflationary monetary system benefits humankind. I won’t explain why money printing benefits the early recipients the most as this is a well covered topic already. But I will argue that when money is deflationary, people will spend their money much more carefully, buying only what they really want. I believe this will lead to less wastage and a huge drop in pollution globally, benefiting the planet and mankind as a whole. It is easy to be wasteful when money is inflationary and if you don’t consume, those money will become worthless over time. Obviously, we will spend them while there is still value.

And since governments can’t print money anymore, there will also be less wars since the war mongering governments can no longer print money to fund wars, wars which most people have little interests in. I’m not interested in seeing my money being spent to harm or kill someone from another country, absolutely no interest at all.

Observation 5) I would like to emphasize the benefits of Bitcoin Cash to humanity at https://slp.1bch.com/index.asp?action=showBitcoinCashBenefitsFrame

I strongly believe in the value of Bitcoin Cash, even if it is just to preserve the freedom and liberty of people. That alone is valuable to me but of course, Bitcoin Cash is more than that. I genuinely believe that such a monetary system, separated from the government, can bring massive benefits to humanity, and I am willing to dedicate the rest of my life working on it, no matter what the price of Bitcoin Cash is.

Observations About The Bitcoin Project