Crypto-wars and dramas: who wins?

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Banished_Privateer
Posts: 43
Joined: Wed Feb 10, 2021 6:49 am

Crypto-wars and dramas: who wins?

Post by Banished_Privateer » Mon Apr 19, 2021 11:39 am

Although I know this place is more chilled and civilized in discussions, I would like to comment on many spurred crypto-wars between different camps and different coin enthusiasts on other major social medias like Reddit, Twitter and probably including most of the major ones. Entire market is boiling with so called by me crypto-wars, one camp of crypto supporters 'talking trash' about other.

My coin is better, yours is scam, our TPS is 42069, your fees are too damn high, we have smart contracts, your coin has no value, your price is just a bubble...

and so on. And it's not just random people tweeting and posting angry comments but even major figures such as Charles Hoskinson CEO of IOHK (ADA Cardano development team) made rant videos and comments on social media recently about Dogecoin.

Instead of all crypto-enthusiasts being supportive with each other, we try to undermine other projects and camps so ours that we root for has a higher chance of success (typically a result of greed and money being involved). At the end of the day, we might put entire cryptoverse in the dark times as traditional financial system and governments take us down, as we get bad PR of toxic immature traders or it's called out to be used for scams, crimes, tax avoidance etc.

I do believe that it's time for crypto-enthusiasts to grow up, have mature discussions and support each other to prevail the future fight against traditional systems. Turkey is already banning usage of crypto and they are not the first and won't be the last to make a move like that. India is debating similar moves and threatens to confiscate people's assets. China had several shifts in opinions, now they plan to release their digital Yuan and are interested in investing into BTC. Meanwhile in US there are plenty of rumours and messages such as:
A number of officials — from U.S. Treasury Secretary Janet Yellen to European Central Bank President Christine Lagarde — have sounded the alarm about the use of bitcoin for money laundering, terrorist financing and other illegal activities.
Meanwhile the recent report by a former CIA analyst says the absolute opposite:

https://cryptoforinnovation.org/resourc ... inance.pdf

TL;DR Bitcoin use for illicit Finance has dropped significantly from about 7% to 1% and criminals are moving to other anonymous cryptos like Monero, since most crypto-transactions are public in blockchain for everyone.

Final notes: stay strong and united, build the bridges (pun intended) and acknowledge that other blockchains are not your enemies and can work together, quite literally. Paralel chains, layers, bridges, intermediary tokens using liquidity pools, LP tokens, coin pairs etc.

signed,
Peaceful Crypto-enthusiast
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Steve Sokolowski
Posts: 4385
Joined: Wed Aug 27, 2014 3:27 pm
Location: State College, PA

Re: Crypto-wars and dramas: who wins?

Post by Steve Sokolowski » Mon Apr 19, 2021 6:28 pm

Banished_Privateer wrote:
Mon Apr 19, 2021 11:39 am
Although I know this place is more chilled and civilized in discussions, I would like to comment on many spurred crypto-wars between different camps and different coin enthusiasts on other major social medias like Reddit, Twitter and probably including most of the major ones. Entire market is boiling with so called by me crypto-wars, one camp of crypto supporters 'talking trash' about other.

My coin is better, yours is scam, our TPS is 42069, your fees are too damn high, we have smart contracts, your coin has no value, your price is just a bubble...

and so on. And it's not just random people tweeting and posting angry comments but even major figures such as Charles Hoskinson CEO of IOHK (ADA Cardano development team) made rant videos and comments on social media recently about Dogecoin.

Instead of all crypto-enthusiasts being supportive with each other, we try to undermine other projects and camps so ours that we root for has a higher chance of success (typically a result of greed and money being involved). At the end of the day, we might put entire cryptoverse in the dark times as traditional financial system and governments take us down, as we get bad PR of toxic immature traders or it's called out to be used for scams, crimes, tax avoidance etc.

I do believe that it's time for crypto-enthusiasts to grow up, have mature discussions and support each other to prevail the future fight against traditional systems. Turkey is already banning usage of crypto and they are not the first and won't be the last to make a move like that. India is debating similar moves and threatens to confiscate people's assets. China had several shifts in opinions, now they plan to release their digital Yuan and are interested in investing into BTC. Meanwhile in US there are plenty of rumours and messages such as:
A number of officials — from U.S. Treasury Secretary Janet Yellen to European Central Bank President Christine Lagarde — have sounded the alarm about the use of bitcoin for money laundering, terrorist financing and other illegal activities.
Meanwhile the recent report by a former CIA analyst says the absolute opposite:

https://cryptoforinnovation.org/resourc ... inance.pdf

TL;DR Bitcoin use for illicit Finance has dropped significantly from about 7% to 1% and criminals are moving to other anonymous cryptos like Monero, since most crypto-transactions are public in blockchain for everyone.

Final notes: stay strong and united, build the bridges (pun intended) and acknowledge that other blockchains are not your enemies and can work together, quite literally. Paralel chains, layers, bridges, intermediary tokens using liquidity pools, LP tokens, coin pairs etc.

signed,
Peaceful Crypto-enthusiast
Banished Privateer
The weirdest part about all these forums is that the people who won the battle seem to continue arguing past wars. The Bitcoin Core developers are the biggest culprits. If one mentions Bitcoin Cash anywhere in the forums they control, they immediately censor the post and ban the poster. Yet, it's pretty clear that the two coins went their separate ways a long time ago, and the Core developers got what they wanted with bitcoin becoming a "store of value." Why do they continue to censor forums years after they won the war?

There's a reason all the other chains are starting to rise in value. Try sending a transaction on the bitcoin network and you'll see it costs $15 now. For the first time, litecoin is now requiring nonzero fees to be included in blocks. It's not surprising that bitcoin cash and dogecoin, both of which have larger or more frequent blocks, are being used to send money between people now. When I sold a box of masks earlier this year, I asked for one litecoin. Who wants to lose $15 in transaction fees to re-send the bitcoins?
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