The Bitcoin Group #148 – Who Controls Bitcoin? – Vitalik is Not Dead – Mark Cuban Hypocrite?

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Featuring…

Tone Vays ( )
Blake Anderson ( )
Gabriel D Vine ( )
and Thomas Hunt ( )

THIS WEEK:
—————————-

Bitcoin Scaling Project Segwit2x to Release New Code Today

Ethereum's cofounder used the cryptocurrency to disprove fake news stories about his death

Mark Cuban, who just called bitcoin a bubble, says he plans to invest in another digital coin

Let's Talk Segwit2X with Jimmy Song and Eric Lombrozo

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39 thoughts on “The Bitcoin Group #148 – Who Controls Bitcoin? – Vitalik is Not Dead – Mark Cuban Hypocrite?

    1. Open project rewarding “Just Competence” and “Equal Access” in opposition to Rich People bringing “top down” centralized decisions puts this battle in stark relief. Also, I like the idea that regardless of violent changes our commitment to the core value system will allow it to prevail.

  1. Thanks again to all who participated live in chat. I know that I regularly use my story of the week to encourage our viewers to be more active but I strongly believe in how important it is. Sharpen yourselves up and join the war of ideas because the world needs you.

    1. well, i already traded all my btc and eth for dash digital cash; ether has infinite coin supply, the bitcoin network is very slow, many transactions are delayed. so, when possible i prefer the dash payment system; yes the masternode network is a great idea

  2. Thomas and Jimmy’s logic is completely flawed. Why should it matter how much hashing power Jihan and his friends have? Are you saying that we should think about submitting to extortion because they have a monopoly on hashing? If they fork, even if they get a lot of hashing support, do you really think they have confidence that people are going to use JihanCoin?

    Just like Eric Lombrozo said, the fear of forking is far worse than forking itself. By giving their power grabs credibility you’re slowing SegWit even more — you’re volunteering to be BitMain’s propagandist for free (at least Amanda Johnson gets paid to propagandize).

    If Jihan Wu scares you this much, just leave the space. What if George Soros or someone else very powerful threatens Bitcoin? We should all be laughing hilariously at this guy and Thomas and Jimmy are naively singing to their tune. Very pathetic in my view.

    1. Without differences in opinion it would be really hard for us to illustrate which ideas we find superior. I am often thankful for those with the courage to disagree and engage in debate allowing people to examine the strength of their own underlying assumptions as they articulate why their ideas or foundations have merit.

    2. When your expression of a difference of opinion is a regurgitation of propaganda from proven hostile actors of Bitcoin, it’s ineffective as an intellectual exercise.

      Should we start playing devils advocate when somali pirates kidnap someone, so we can experience the full range of ideas? Of course not, it’s a useless intellectual exercise to debate on behalf of a self-interested hostile actor

    3. “If they fork… do you really think they have confidence?”
      They think they will have a better bitcoin. You are discussing confidence.

      “What if George Soros or someone else very powerful threatens Bitcoin?”
      The scaling dispute is powerful people threatening bitcoin.

      It’s clear a bunch of devs are reaching for the money. That’s open source money for you – you too can become a bitcoin developer and promote the proposal that only you understand. Users do not even know what a “segwit” is lol. We need a Bitcoin Constitution, frankly, to prevent developers from fucking things up.

    1. Investing in Bitcoin is best done with a dollar cost averaging strategy. Warren Buffet has discussed this a lot and you should be able to find good content of him speaking about why it’s a good idea. Long horizons and investing at safe levels is the way to go in terms of BTC investment and right now is no different imo.

    2. Blake Anderson Thanks for the fast response and the info. The current drama in the bitcoin world made me wonder if one should wait till the smoke cleared b4 jumping in. Thanks for the advice =)

  3. Maximalists are so closed to new ideas that when they speak in a discussion with people that are not, ppl that study the new ideas, they sound so dumb… Tone Vays is a prove of that.

  4. Hands down, the best show you guys have produced. This episode showcased all of your deep analytical abilities coupled with your vast knowledge in the space and beyond. Every bitcoiner, noob to expert, will benefit tremendously from this material. Cheers, guys.

    1. My issue with the show was the shades thrown at airline pilots. You think its easy to fly a commercial airliner? And what is with this medical diagnosis of people based on a picture. Also what is this “NBA Types” is that some kind of racist crap?

      Also Tone did sound kind of arrogant when he thinks Mark Cubans even knows he exist or cares what he thinks. Who’s the Billionaire and who isn’t?

  5. Blake’s statement, “the appeal to moderation fallacy, is definitely problematic” needs to be restated.
    You can appeal to moderation if injury is occurring, otherwise competency must rule.
    And moderation should be in place only until the injury is mitigated, then immediately go back to competency!
    (I’m thinking in terms of sports, but it applies to most things, including morality – but wait, isn’t morality just competency in minimizing injury?) 🙂 Oh well, the miners have caused enough injury, and their competency at enriching themselves at Bitcoin’s expense will now be moderated – or competently curtailed? 🙂

  6. I said in the chat, “Tony the cypherpunk” and i was mocked, lol, but think on…
    Wikipedia defines a cypherpunk as… any activist advocating widespread use of strong cryptography and privacy-enhancing technologies as a route to social and political change. Looks like most of us are Neo-cypherpunks guys!

  7. The only thing wrong with Bitcoin at the moment is the incentive infrastructure. Currently miners are the ones that get paid. Satoshi didn’t account for large mining pools. It was supposed to be everyone mining to their own full node. But now we have ASICs and big Corps playing. The kick back from Bitmain is inevitable. However…..

    Nodes are important because they can verify and sign transactions but, there is currently no other reason to run a full node than to “help” the network and for your own security…. until Lightning!

    Nodes can do so much more though, relay, validations, proofs, signing, etc. for other users too… What Lightning Network will bring is… it will give Lite-client users access to those services without running a full node. Lite-client users will be able to buy-in those services and pay the node through a payment channel. Lightning will bring down transaction fees to make micro payments viable again, this will give any node operator a chance to earn. And unlike the Dash/PIVIX master node system, you will not have to BUY a master node. Anyone can run one, removing the need for a two level hierarchical node system that is open to manipulation.

    We currently need Nodes AND Miners but everyone expects nodes to run for free. Moreover, you can’t even tip your favorite node operator because of the transaction fees.

    Times are changing, 16 million of the 21 million coins have been mined. When mining ends the system will have to support it’s self. Miners are angry because their slice of the pie is getting shared out to other network supporters. Without Lightning Network, Bitcoin will never survive long term.

    Currently the mines are earning but not contributing to cost of running the network.
    You can have your big blocks when we work out who will be paying for them, open source software is not free for the creator/coder, it’s only free for the miner!

    Please watch Eric Lombrozo https://youtu.be/PEcHKFfL5Zk?t=31m22s

  8. Talking about people who dont understand Bitcoin, people should check out a channel called “TruthNeverTold”, almost every video he does as a silver seller is attacking bitcoin and cryto’s in general.

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