Humbug
5K posts
Bitcoin forming a near identical pattern to the biggest Gold break out in 20 years.
If Bitcoin breaks UP in a similar way we could see +$300,000 by the end of next year.
🫡 @JamesEastonUK
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@PakoVM @ForrestHODL @GrassFedBitcoin I listened to his interview on What Bitcoin Did last week.
He repeated the same tired old prisoners dilemma arguments ("BIP-110 will win because miners are afraid another miner might invalidate their non-compliant block"), but underneath it he sounded resigned to defeat.
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A year or so ago this debate would have been all the rage with Mechanic lying and contradicting himself in the span if 5 minutes while letting nobody else talk and saying that everyone is lying when they provide any data.
But now? It is just a waste of time, it has been for a long time now and nobody who is against the change takes it seriously, so much in fact that nobody has even bothered to make and URSF client because of how much this fork isn't happening.
This thing is failing to meet all thresholds, failing to gain significant economic support, it fails at being a backwards compatible soft-fork.
It is in all the senses just a joke and a waste of everybody's time.
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I've talked with @GrassFedBitcoin about doing a debate with someone from cores side / anti bip-110 of the argument and I would moderate it. Who is the competent person willing to do this? Please tag people in the comments that you would suggest for this.
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@JasonADeane @olddiesel Going into the recharge zone on the motorway reduces efficiency. Zero-regen avoids the losses of converting kinetic energy to battery and back.
Of course, the best thing you can do for motorway efficiency is slow down a bit. Even mid 60s v. low 70s makes a massive difference.
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@currentseas @olddiesel Interesting. For me, always on max setting, did it from day one although it took a bit of getting used to. Then, slighty obsessively, I have one of the screens set to view use/regen and use every opportunity to send it into the green recharge zone.
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Very interesting.
Many EV critics would expect much longer than 6 min stop on a 376 miles trip.
Jason Deane@JasonADeane
Yesterday I did 376 miles in my trusty EV6 in one day. Made some notes on mileage etc. Charged to 100% from home solar before I left. Completed 1st half (188 miles) with 48% left in the tank without stopping. (Thanks regen!) Stopped when I had 50 miles left on the way back for 6 minutes (just enough time to plug in, walk to loo and back) on a super charger. Arrived home with 21% left. Total cost: £12.83 (it was an expensive motorway service charger - I paid for convenience rather than going for the cheaper options) Cost per mile for journey (including correctly accounting for mileage left & top up) 3.1p About as easy as it gets. EVs are perfect for long journeys. @eV_Newt @ukevowners
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@MisterBeergut @StuartMaggs Because profit is net of costs, and farm equipment (whether bought, leased, etc) is a cost.
Pretty sure most farmers who are struggling aren't buying new £300k bits of gear.
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@StuartMaggs If profits are that small, how do they manage to buy any farm vehicles, let alone ones that cost upwards of £300k each?
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@JasonADeane @olddiesel Regen is less than 100% efficient, so should really only be used where you would otherwise intentionally be braking.
I keep regen on at its lowest setting around town and completely off on the motorway.
In my car, light braking increases regen, so I use that as needed.
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True. I think they tend to look at the whole journey rather than just the little bit you actually need.
I HATE paying for public charging, so always make sure I'm at 100% before leaving for a long journey, then just do a quick top up sufficient to get me home, so I can go back to free home charging from solar. Car happily heading back to 90% (usual level) as I type.
Interestingly, because of regen & warm weather, I later realised I might have actually made it, but it would have been down to single digit miles range left - too close even for me! (and not good for battery)
I keep my regen setting at 100% (so almost never use brake pedal) and use every slight hill to recharge. Still can't believe the difference this makes, even several years in.
(My missues, on the other hand, is pedal to the metal all the time, so very different mileage rates between us!)
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@EricChennells @w_s_bitcoin The highest payoff is for all to mine the legacy chain, taking both BIP-110 compliant and non-compliant income.
Mechanic thinks miners will be worried that another miner will reject their non-compliant block, despite there being no financial incentive to do so.
"Game theory"💀
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He keeps saying its a prisoners dilemma but in a prisoners dilemma if you choose wrong you go to jail for life. With bitcoin mining the worst that happens is several blocks go by and you wasted your hash.
He also seems to be missing that the real decision point is when the first non bip110 compliant block is mined, and at that point the network has shown that at least one miner is ignoring bip110 and in the presence of no other signals why wouldn't you just assume everyone else is ignoring it.
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I love that Mechanic is making these bold claims like “[BIP-110] kind of wins in all scenarios.”
When BIP-110 fails spectacularly in early August, people should remember how confidently these claims were made and reconsider how much credibility they give him going forward.
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@TheCinesthetic I don't know about "falls apart", but during the first half of Babylon, I genuinely thought I might be watching my new all-time favourite movie.
That thought didn't survive contact with the rest of it.
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What is a movie you think has a flawless first 30 minutes, but completely falls apart by the end?
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@w_s_bitcoin He keeps referring to the prisoner's dilemma, but clearly doesn't understand it.
If miners continue to process both BIP-110 and non-BIP-110 blocks, they maximise their present and future profits.
There's no incentive for a miner to reject someone else's non-BIP-110 block.
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"Big mining pools and big businesses and exchanges don't wanna play games of chicken with consensus with plebs 'cause plebs ultimately are the ones that won't compromise and I think that's the networks greatest strength because those are the people that will never bend in ways that could compromise the network in bad ways."
Aside from being an absolutely atrocious run-on sentence, this quote from @GrassFedBitcoin on @_DannyKnowles’s latest WBD podcast stood out to me because I actually think the opposite is true in the case of BIP-110.
I don’t know anyone willing to go down with the ship if it fails. Most supporters would likely just revert their nodes back to versions that follow the heaviest chain and move on. In practice, they don’t really have much to lose by trying, and big mining pools, businesses, and exchanges don’t really have much to lose by ignoring them.
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Bitcoin and the rest of the Crypto market are very different.
They are still routinely lumped together by the media, regulators, and the public. @TheFCA applies a “same risk, same regulation” framework largely because Bitcoin is often perceived as just a small part of a much wider “crypto” market.
But the reality is very different.
🤯 Bitcoin makes up around 58% of the total market cap. It is not a niche corner of crypto. It is the dominant asset and the foundation.
Bitcoin is a freedom technology. What surrounds it is mostly noise. A long tail of speculative tokens and DeFi narratives that come and go, while Bitcoin continues to do what it was designed to do: provide neutral, decentralised money that no one controls.
Until this distinction is clearly understood, Bitcoin will continue to be misunderstood, misregulated, and misrepresented.
🚀 Tomorrow we drop a new presentation breaking down why Bitcoin matters, and what the network enables.
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@Pat_McCat @bsvsimp Can you imagine how wonderflly horrific the raw footage (or perhaps frottage) would be?
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@bsvsimp I would love to see the footage that was shot for the documentary.
With the right editor, and some illicit footage from the COPA trial, it could do for Craig Wright what "Overnight" did for Troy Duffy.
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"Unfortunately due to unforeseen circumstances I had to cancel the boring Bit Coin book and documentary but made a Hollywood thriller about Craig instead" 😊 🥒
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@larvlars @MarkDampier @MyraButterworth @PensionsMonkey @John_Stepek @bgprior @EdConwaySky I agree ASHPs are awesome technology, but the subsidies aren't bringing prices down.
The end buyer just sees the net cost, so ASHP installers push their charges up such that the net price is the maximum the market will accept.
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@MarkDampier @MyraButterworth @PensionsMonkey @John_Stepek @bgprior @EdConwaySky Because it’s awesome technology
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If a reset speech could make such a big difference, why wouldn't you have announced what you are now promising before you had lost 1500 councillors, not after?
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@mattyglesias @CJHandmer They feature in a classic science fiction novel you would probably enjoy: en.wikipedia.org/wiki/The_Moon_…
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Writing about lunar mass drivers - what do you want to know?
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@TOzgokmen @AlexJuska @cherrygarciafan @AnselLindner is predicting deflation - see What Bitcoin Did episode on 15 April.
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As of today, I am aware of only three people on X who still predict deflation:
me, @AlexJuska and @cherrygarciafan
the rest have all faded away & carried to other places by the winds of chaos & confusion, because they never quite understood deflation to begin with.
471TO@TOzgokmen
Airline bankruptcy avalanche is starting. Inflationary right? 🤡
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@96_Percenter @_DannyKnowles @PeterMcCormack I think he's an extremely decent guy and an insanely hard worker. After all the years of effort, it feels like he's perhaps just had enough.
I get it, I just personally think his current approach isn't productive.
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@currentseas @_DannyKnowles @PeterMcCormack I (used to) respect Peter too. But gone are the days of WBD with Danny, my top of the charts show at the time. Back then he had a very inclusive and balanced view. Now, he seems - as you say - negative and hostile (like most Bitcoin maxis are I might add..).
Sad 😞
♥️🇩🇰🥷96%
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Open letter to @_DannyKnowles:
Can you please try and speak to your friend @PeterMcCormack that we (progressives) all used to love?
What has happened to him with all his Libertarian BS? 🫣
♥️🇩🇰🥷96%
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You won't believe the movie titles that were considered and rejected by the writers' room on "Bitcoin: Killing Satoshi":
"Eat. Pray. Lie."
"The uint32_t Mystery"
"Evidence!"
"Australian Cunt"
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⚡️This “professor “ asking “where are the servers” in 2026 is like a medieval cartographer asking where the edge of the earth is in 1520.
The question reveals that the person asking it hasn’t updated their model of reality despite overwhelming evidence that the old model is wrong.
Bitcoin has been running for seventeen years. It has survived the shutdown of Silk Road, the collapse of Mt. Gox, a Chinese mining ban, multiple 80% drawdowns, regulatory assault from every major government, and active hostility from the entire traditional financial system. If the CIA built it they built the most resilient piece of infrastructure in human history and then let it be attacked repeatedly by other arms of the same government.
That doesn’t hold up for five seconds under basic scrutiny.
But the CIA theory isn’t really about the CIA. It’s about the desperate need to locate an authority behind the thing. Because if there’s no authority then every assumption about how power works, how money works, how systems work, comes into question. And for someone whose entire career and status and identity is built on understanding how systems work, that’s not an intellectual problem.
That’s an existential one.
The real thing happening in that clip is a man protecting his worldview in real time. The question “where are the servers” isn’t curiosity. It’s defense. If the servers can be located then the system can be understood within his framework. If they can’t be located then his framework is incomplete. And admitting your framework is incomplete when your framework is your career is something almost nobody will do voluntarily.
This is why Bitcoin adoption follows generational lines more than intelligence lines. It’s not that older people are dumber. It’s that they have more invested in the existing model. Decades of career. Status built on expertise within the current system. Reputation staked on understanding how things work. Bitcoin doesn’t ask them to learn something new. It asks them to accept that something they spent their life mastering is being replaced. That’s a fundamentally different ask. Learning is easy. Unlearning is almost impossible when your identity is built on what you know.
The “where are the servers” question will be studied in the future the way we study people who rejected the heliocentric model. Not as stupidity but as a perfect example of how paradigm resistance works in practice. The evidence was available. The system was running. The proof was on the blockchain for anyone to verify. And he looked at all of it and said “but where is the building.”
There is no building. There was never going to be a building. The entire point is that there is no building. And the people who need a building to believe something is real are going to be the last people on earth to understand what happened.
By the time they get it, it will have already restructured the global financial system around them.
They’ll be standing in the rubble of the old model still asking where the servers are while the new one runs on sixty thousand nodes they never bothered to look at.
BTC Markets@AnselLindner
🚨 "People recognize [bitcoin] is the CIA. I want to know where the databases are, where the servers are, physically.” - Prof Jiang This is the opinion of so many midwits. It's also the reason even some gold bugs cannot comprehend bitcoin to this day, and why midwits believe in centralized scam sh*tcoins. They don't understand decentralization.
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