TL;DR: CoinSpice scours the Twittersphere to shine light upon the top crypto tweets of the week. Bitmain vindicated in The Great Bitcoin Scaling Debate. Stablecoin tether (USDT) is now viewed as crypto’s central bank, and as institutions beg-off and drop crypto … maybe this is the time to encourage actual usage.
#9 Bitmain Vindicated in Scaling Debate
The Great Bitcoin Scaling Debate reared its head again recently, ever so slightly and almost in passing — if you blinked, you missed it. Among the many casualties of that debate was the reputation of mining giant Bitmain. The company was vilified by BTC maximalists for supporting bigger blocks to help in bettering transaction times and to lower associated fees for users. There’s precious more to it, but that’s the gist.
This vindicates @BITMAINtech from the #ASICboost drama that its haters, including those who later supported the Asicboost-addict and now AWOL @HalongMining, conspired to create and propagate during #Bitcoin's #thegreatscalingdebate…(1/3)#TruthFindsAWayhttps://t.co/lroI5rFqGo
— Nishant Sharma (@nishantsharma87) March 14, 2020
When a technical solution was proposed, Segregated Witness (SegWit), some believed it was simply an end-run to effectively keep block sizes artificially small in order to push users onto a second-layer solution, off-chain and away from Bitcoin. Bitmain was thought to have blocked SegWit for at least that reason, and was subsequently made the goat of grand conspiracy theories, lasting years in fact, from mid-2017 (when the debate was most lively) and beyond.
Quietly, cryptocurrency exchange BitMEX recently published statistics on ASICBoost in follow up to a 2018 metric. New data shows ASICBoost now “approaches the 70% level on Bitcoin,” double that of the earlier percentage. “For context,” Nishant Sharma, formerly of Bitmain, insisted, “check @BITMAINtech’s blog post from that time, where it laid out all facts about #ASICboost and informed how the ASICboost accusations it faced were baseless and part of a series of PR campaigns during the scaling debate,” and referred his followers to a comprehensive timeline regarding major scaling issues of that period.
#8 Tether Bailout
Many people in crypto don't even dispute that it's a Tether bailout. They merely say that it's okay because the Fed does it too. Tether celebrates $5bn but still won't say how much is backed. Even they admit that most of their funds weren't in USD but "diversified". https://t.co/z1s32Yx1o4
— Paul Everton (@realpauleverton) March 13, 2020
#7 Less Institutional Investors, More Users
Institutional investors are dropping out of Bitcoin. That’s good. Crypto needs more users, not more speculators.
Mass utilization is accelerated by the economic crash. But Crypto needs more easy-to-use & secure apps allowing users to pay for real things in real-time at low fees.
— Kim Dotcom (@KimDotcom) March 12, 2020
#6 Clearly Smoking Crack
Clearly you are smoking crack at this point. But God bless, Millennial Bro https://t.co/Zn7kO6jxN1
— Keith McCullough (@KeithMcCullough) March 17, 2020
#5 Bet You Never Thought of This
This reminds me of the old biocrypto idea of re-designing the cell with public-key encryption such that your DNA is signed, and your ribosomes do a signature check before building proteins. Unsigned DNA gets rejected. Virus' begone. https://t.co/HzYfZ7olY2
— Patri Friedman (@patrissimo) March 17, 2020
#4 Recession Solved
Just tell everyone to draw an extra zero on their cash. #RecessionSolved
— Erik Voorhees (@ErikVoorhees) March 17, 2020
#3 Please See #6
Lmao at people using gains and losses from the last 24 hours to shill bitcoin & call it uncorrolated.
Bitcoin’s down 50% in the last month. S&P down 30%. Gold down 20%.
You guys preach a “low time preference” but don’t know how to open your fucking eyes when it matters.
— Charles (@CryptoCharles__) March 18, 2020
#2 Better to Burn it Than Barrel it
Get to building those bitcoin mining facilities. Better to burn it than barrel it.
— Jesse Powell (@jespow) March 19, 2020
#1 Umm, Who is Going to Tell Him?
umm who's gonna tell him that the USD-backing USDC is issued and redeemed at commercial banks (such as Silvergate)? pic.twitter.com/vv1ibJDUxI
— Tim Swanson (@ofnumbers) March 19, 2020
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