TL;DR: CoinSpice scours the Twittersphere to shine light upon the top crypto tweets of the week. BTC maxis are beginning to turn against Lightning Network after dividing the ecosystem over it for years. Saifedean Ammous is back and posting his heart out. Gym Friend live stream interview called out for being moon-landing great. A crazy, wonderful Bitcoin node sculpture is revealed, and price predictions are given cold water.
Tweets of the Week: #8 BTC Maxis Turn Against Lightning Network
Adam Back is an original scientist, thinker, partisan in the Bitcoin space. He’s even cited in Satoshi’s White Paper. His business, Blockstream, is unusually close to BTC and its development, to put it mildly. He’s also considered one of the architects of the infamous scaling debates that eventually divided the ecosystem.
Blockstream's business model now requires them to shit on Lightning Network, the exact "solution" they held up to rationalize breaking BTC in the first place.
Chickens come home to roost. The veil is lifted. https://t.co/mGb35C2YsY
— Ⓥin Ⓐrmani (@vinarmani) January 17, 2020
For Back and his ilk, BTC was to remain tethered to smaller blocks due to security risks. Skeptics charged Back’s company Blockstream benefitted from that arrangement as they in parallel time helped develop and promote second-layer solutions such as Lightning Network and Liquid. Skeptics also charged simply raising the block size wasn’t nearly as risky as the proposed off-chain solutions.
Round the debate has gone for years, and during that time Lightning Network has had legendary problems in its rollout (only 18 months away). There is now widespread agreement among the self-same BTC maxis about Lightning Network and its limitations, and yet another shift or pivot appears in the making. Some longtime watchers have caught the irony.
#7.75 The Day Has Come
About 1 year ago, I asked how long it would take for @blockstream to start pushing their L-BTC to users. Seems like that day has come. Blockstream intentionally crippled BTC to do this, solidified by their infamous 2016 miner Hong Kong Roundtable agreement https://t.co/fmBPHi7Rhg pic.twitter.com/JnKUYOZ93P
— Olivier Janssens🎗 (@olivierjanss) January 17, 2020
#7.5 Happily Take a Small Risk
People often forget merchants will happily take a small risk in exchange for better UX, which more than covers that risk. The higher their margins are, the more tolerant they become.
Imagine knowing this little about how real life businesses work.https://t.co/WvmFJuj8oF
— imaginary_username (@im_uname) January 15, 2020
#7 Leading Us to the Promised Land
This moron who can’t even manage his own credentials will lead us to the promised land. Sure. pic.twitter.com/NoQluVXGB0
— Andrew (cyberhokie.eth) (@cyber_hokie) January 12, 2020
#6 Don’t Use This
Don’t use this.
The trust model is horrid for end users, and LN in BtcPayServer is better anyway.
If you want to move money between exchanges (that support it) use Liquid, if anyone tells you to use it for anything else, treat them like they’re trying to steal your Bitcoin. https://t.co/TxL2jX0asV
— Matt Corallo (@TheBlueMatt) January 16, 2020
#5 Our Generation’s Moon Landing
I don't want to sound hyperbolic or anything, but this was, possibly, our generation's moon landing. Good work @CollinEnstad
— Mike “tradeoffs” Space (@mikeinspace) January 15, 2020
#4 Bitcoin Full Node Sculpture
Honored and excited to show the Bitcoin Full Node Sculpture (block height 600,000) @ #BTCmiami Designed to be a fully functional Bitcoin node and block explorer. Come see it at #TNABC #Bitcoin #BitcoinArt #BTC pic.twitter.com/xTZzrHBrzo
— FractalEncrypt (@FractalEncrypt) January 16, 2020
#3 Keyboard Warriors
Bitcoin maxi’s talking sh!t about Alts:
— ᒪᗩᑌᖇIᗩᑎᑎᗩ ♘ (@Laurianna90) January 17, 2020
#2 Bitcoin Price Predictions are Ridiculous
Bitcoin price predictions are ridiculous and are a disservice to the ecosystem due to their shallowness. They bait people into investing in a risky asset they don't understand well because they think it's an easy way to get rich quickly. In Bitcoin, ignorance is the path to rekt.
— Jameson Lopp (@lopp) January 17, 2020
While #BitcoinCash median transaction fee has been around USD 0.0008 for the last 12 months here we have an analysis of trend in cost of fiat remittance services from the World Bank:https://t.co/1ukCzUO9c9 pic.twitter.com/uwwcW9mkZJ
— Leandro Di Marco (@Leandro_DiMarco) January 17, 2020
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DYOR: CoinSpice is your home for just spicy crypto things. We’re not affiliated with any cryptocurrency project or token. Each published piece is intended for information purposes only, not investment advice and not in the hope of impacting speculative markets. There are plenty of trading sites and coin-specific advocacy journals out there, we’re neither. CoinSpice strives for rigorous accuracy in our reporting. Information presented here is contingent usually on a host of factors, and the ecosystem moves fast — prices change, projects change, and at warp speed. Do your own research.
DISCLOSURE: The author holds cryptocurrency as part of his financial portfolio, including BCH.