TL;DR: Proof of Social Media (PoSM) is a CoinSpice quick take of the ecosystem’s temperature through the lenses of YouTube, Facebook, Twitter, Instagram, Reddit, Twitter, and wherever else sentiment can be observed. This PoSM installment was inspired by Washington Sanchez, co-founder of OB1 and developer at OpenBazaar. On his way to making a larger point, he touched upon the essence of what all that chatter on social platforms means, influence. Taken one at a time, compartmentalized, they’re meaningless. Reading them paired, documented, yields a quite different result. To wit.
Proof of Social Media: Extraordinary Delusions and the Madness of Crowds
2⃣ The ability to warp public perception is just as important as development power. It is the catalyst to shape reality in the eyes of the people you're bring together to form a network effect.
If you have 1⃣ and 2⃣, then you don't need to compromise or govern with anyone.
— Washington Sanchez (@drwasho) April 3, 2019
It is ridiculous that only these 3 exchanges show such a bias against #BitcoinCash in naming the ticker as #BCH @bitfinex – 'BAB'@binance ,@cz_binance – 'BCHABC'@Poloniex – 'BCHABC'
Other exchanges have fixed this & I'm sure you are not incompetent. So plz don't give excuses pic.twitter.com/L1RV7Rd30Z
— Keshav R Narla (@imkeshav) April 4, 2019
Lots of talk recently about the power of exchanges in relation to delisting bad actors; by and large the ecosystem has seen fit to cheer. And so it’s also a good time to point out how, combined with Washington Sanchez’ insight, exchanges might have a duty to make sure they cease participating in tribal politicking. Best not to call balls and strikes, and better to leave clear what the market prefers. Bitcoin Cash’s ticker remains BCH, anything less is purposely causing confusion.
Where debate is allowed, ideas flourish, and something close to the truth can emerged. The popular subreddit, r/bitcoin, has made no bones about it: disagreement is not allowed. Questions are not allowed. Hope-ium is the norm. What remains of the Bitcoin Core (BTC) project, by all accounts lilting and limping, is closely guarded by gatekeepers. High fees are wonderful. Slow confirmation times are even better. Use credit cards for micropayments. Satellite technology on its way. Nothing to see here.
Lightning Network Can Only be Questioned Where BTC Supremacists Lack Control
Lightning Network (LN) users walks into a bank, says "I need a loan."
Banker asks "What for?"
LN users says "To receive my paycheque."
— Peter R. Rizun (@PeterRizun) March 14, 2019
Basic assumptions are kept tightly controlled by supremacists. One wonderful way to show emperors lack clothing is to use mockery, humor, as computer scientist Peter Rizun does above in a scathing, profound manner. Rizun was himself subject of a brigading campaign by BTCers after he agreed to a podcast interview. The pressure by BTC supremes was so awful, the host gave-in, and disinvited Rizun. As they’re prone, mobs overplayed their hands, and Rizun was eventually interviewed by that same host. The episode should be released soon — a rare spark in an otherwise dark, dark part of the ecosystem.
Imagine being competent enough to say 3+ yrs then
Still holds the job today🤦♂️ pic.twitter.com/y92RDKpdb5
— Keshav R Narla (@imkeshav) March 16, 2019
18 months? Rollout? Launch date? What launch date? Maybe you meant lunch date? Let’s have lunch. Chairman Mow for the win:
— Samson Mow (@Excellion) March 16, 2019
What if it Sucks?
— Tom Harding (@dgenr818) March 16, 2019
In my @WhatBitcoinDid interview I mentioned how Bitcoin should have had a 0.1% or 1% monetary inflation tax to pay for security.
Something I didn't mention – and should have – is I think the 21 million BTC limit is so fundamental it's more likely Bitcoin will die than change it.
— Peter Todd (@peterktodd) March 22, 2019
BTC.TOP Founder Jiang Zhuoer made the claim in a CoinSpice interview BTC devs have long thought about raising the 21 million coin cap, and there was some pushback on his assertion. Skeptics jeered and accused Zhuoer of making things up. See above. Welp.
Shut up and eat meat, read Saifedean’s book, buy your @CasaHODL node, put “⚡️” in your name, like everything bullish, dislike everythijg bearish, and don’t think too much. Call Bitcoin Cash “Bcash”. Those are the rules, obey, gain followers, and thought lead!
— Cøbra (@CobraBitcoin) March 25, 2019
Censorship, muddying ticker symbols, mob pressure, moving goal posts, keeping debate at a bare minimum leads to inevitable crowd madness. Soon, restrictions and prohibitions turn to other areas of life as the tribe devolves into a full-fledged cult. From language used to the type of diet, mania of the BTC sort is breathtaking when the extraordinary delusion is revealed.
DISCLOSURE: The author holds cryptocurrency as part of his financial portfolio, including BCH.
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