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Back in a simpler, more innocent era, from around 2012-2014, when I was still young, dumb, and full of Bitcoin enthusiasm, it used to be that I couldn't stop talking about Bitcoin. To anyone who would listen, and more than a few people who wouldn't. "We just met? You've said absolutely nothing to indicate an interest in hearing about this subject? You haven't mentioned a single topic that's even tangentially related? You're in this country as a tourist and don't actually speak much English? You actually just stopped me to ask directions to the nearest restroom? Well, hey, if you're looking for a place that's full of shit, let me tell you a little about something called 'the Federal Reserve'..." In hindsight, at times, my Bitcoin evangelism may even have bordered on the slightly obnoxious.

But I was a different man back then, no more than a boy really. That was before the horrors I witnessed in the trenches of the Great Block Size War. In more recent years, when someone in my circle who still thinks of me as "the Bitcoin guy" asks me a Bitcoin-related question, my response has tended to be more along the lines of: <takes long drag on cigarette and stares into the middle distance> "It's... complicated. How much time you got? Never mind. I guess the real question is how much energy do I have? Probably not enough. So, um, yeah, sure, buy some shares of the Bitcoin ETF if you want. I don't know. Maybe that'll work out for you."

But now, with the release of this book, I finally have something I can simply hand people, and tell them: "You really want to know the story behind Bitcoin? The true story? Read this."

I was actually a little nervous when this book was announced. Because this is a story that was crying out to be told, or at least to finally be told in one place and in a somewhat "definitive" manner. So I really hoped that Roger and Steve would get it right. And I'm pleased to report that they did. The book is phenomenal, certainly better than I expected it to be, and even better than I hoped it would be. I read it primarily so that I'd know if it was something I could recommend to others. I didn't think I needed to read it for myself, because, after all, "I lived it." I had watched in real time as the "hijacking" described in the book unfolded, and fought unsuccessfully to stop it. But I was mistaken. While I knew perhaps 85% of the story that's outlined in this book, there was a good 15% of events and connections that I didn't know. And even much of what I did know, I'd forgotten. After all, these events took place over a several-year period that now stretches back over a decade. The impact of seeing them all laid out together in a clear, comprehensive and yet still succinct narrative was extremely powerful.

After finishing the book, I couldn't help but think: "I don't see how anyone who's actually operating in good faith could read this book and not agree with the conclusion that the Bitcoin project was hijacked." Of course, the more realistic part of me knows from bitter experience that motivated reasoning driven by things like tribalism and an unwillingness to admit error is a very powerful thing. But still, this is absolutely a book that can change minds and open eyes. Buy it. Read it. Share it.

I have an issue where I accidentally copied the BTC address from the transaction of my BTC withdrawal from cash app to my external BTC wallet. I unknowingly copied that address and sent the BTC I just received from my BTC cash app withdrawal, back to the same address.

Cash app BTC "specialists" are trying to claim that the address I sent the BTC to, does not belong to cash app.

From my understanding BTC withdrawals from cash app work like this.

A customer requests a BTC withdrawal on cash app.

Cash app sends the BTC to a BTC hot wallet owned by cash app used to facilitate customer withdrawals.

Then the BTC is transferred to the BTC wallet address requested by the customer.

But am I missing something?

I'm confused by all the different input and output addresses on the transaction.

On the transaction id on mempool there's over a hundred different inputs totalling over 1.5 BTC.

I'm assuming cash app uses these hot wallets to send multiple customers withdrawals at the same time to cut cost of fees?

But there's no way that I would receive the BTC withdrawal from cash app from some random address unrelated to cash app right?

Here's all the details.

THE DETAILS

~ Cash app withdrawal:

https://mempool.space/tx/891c1f1b2726ebed89b96e049f5f805c92375b436b1bb47edef1d4f237dca196

~ My external BTC wallet address:

1EjKpi9gM8r5coii834u9HJuYi6FVLMym

~ Accidental send back to cash app:

https://mempool.space/tx/fb5113377c46e8be7a44a43cab8c5757605f9fb7933f4159ff8fa5d8b3e09e27

~ Cash app hot wallet I sent to:

bc1q8cfvewthndj7lapq6jku76x9zkzwhet3x98lmx

Thanks

Grayscale Looks to Turn Multi-Token Fund Into ETF

The fund tracks the CoinDesk Large Cap Select Index which measures the market cap-weighted performance of bitcoin, ether, solana, XRP, and avalanche:

https://www.coindesk.com/business/2024/10/15/grayscale-looks-to-turn-multi-token-fund-into-etf/

Canary Capital Group Files for First Litecoin ETF:

https://www.coindesk.com/business/2024/10/15/ex-valkyrie-founders-canary-capital-group-files-for-first-litecoin-etf/

Canary Capital Files SEC Registration for XRP ETF:

https://news.bitcoin.com/canary-capital-files-sec-registration-for-xrp-etf/

Just an observation. Low karma is around 500 and lower for me. The weird thing is, this has been the case for month now and the hype on crypto is WAY DOWN so influx of new people should be at it's lowest.

Edit: There are currently 21 posts out of 50 on the frontpage from accounts with 500 and less karma, most of them less than 100.

Price charts for Bitcoin and Ethereum have gone from search results, while Dogecoin's chart remains accessible. Google hasn't clarified why this is, and it has raised speculation about potential motivations, including pressure from traditional financial institutions. Users can still access cryptocurrency prices through Google Finance and ENS features are still active.

https://www.coinfeeds.io/daily/google-removes-bitcoin-ethereum-price-charts-from-search

Bitcoin’s price has a long way to go before crossing over the Pi Cycle Top Indicator’s 350 DMA! 📈🚀 This is very bullish in my book! 🐂💪💰

Hey there Y’all! 👋😄

Let’s go over some of the main events that happened in the last 24 hours! ⏰📰

Bitcoin ETF Inflows Hit New High Since June 📈💰 During yesterday’s trading session, U.S. spot Bitcoin ETFs attracted $555.86 million, marking the largest inflow since June 2024! 💥🚀

🇦🇪 UAE Central Bank Gives Preliminary Approval for Dirham-Based Stablecoin The Central Bank of the UAE (CBUAE) has granted AED Stablecoin preliminary permission to issue a dirham-backed stablecoin called AE Coin, in accordance with the Payment Token Services Regulation. 💱🌍

Fear and Greed Index Now at “65” (GREED) 😱➡️😎 The index is currently at 65—the highest since July 2024, up 17 points in just one day! 📊📈

Here’s the dirty secret: BANKS ARE SECRETLY HOPING #BITCOIN & #ETHEREUM BOTH WIN. 🤫💰

It might not be obvious at first, but once you catch on, it will be too late. 🕵️‍♂️⌛

#BTC will have bigger profits for banks more than Gold will. 🏦💸💥

Here’s what’s happening behind all the institutional attention! Look at the chart below! ⬇️⬇️

I have been stacking BTC now for over 7 years and let me say that I am extremely satisfied with the returns have I made especially from the BTC that i purchased in the first two years. Thing is that they are just sitting in my cold wallet where my SOL are being stacked and getting 7%. Is there a good safe place were one can stake BTC safely and securely.

After reading Hijacking Bitcoin, I see just how much damage Blockstream has done to Bitcoin BTC. They successfully killed Bitcoin XT, Bitcoin Unlimited, Bitcoin Classic, and Segwit2X forks. They rammed in RBF replace by fee feature and Segwit, under the guise of "scaling Bitcoin". They droned on about decentralization, tried to scam people into using their proprietary Liquid sidechain, and kept saying Lightning Network would be ready in "18 more months". So here we are in 2024, Lightning is officially dead, Bitcoin fees are ridiculously high, the BTC network is slow, and Segwit is totally unnecessary. Taproot seems mostly pointless as it simply enabled more tracking, and there was a bug which allowed ordinals to clog up the chain. Is there anyone who believes that Blockstream is doing anything useful with the Bitcoin code?

So would it be possible to fire Blockstream and the Bitcoin Core dev team? Could another team code a BTC hard fork that rolls back Segwit and increases the blocksize limit? Could that fork become a new and improved BTC if a majority of miners agreed to it? Surely exchanges and other stakeholders would be happy if fees were cut 100x, capacity was improved 100x, and the network sped up?

Watching the new HBO Documentary "Money Electric" and saw this frame of cut off exchanges between Satoshi and Mike allegedly proving Hal Finney can't be Satoshi as they were sent when he (Hal) was on a run. However being a weirdo I pause to read stuff and saw this line of (cut off) text "...not to be online at the time you act on this mail." which as the time of the mail being sent is the actual heart of their importance has made me extremely curious. I know people who still think Hal was Satoshi because you can have emails scheduled to be sent automatically...see my interest? I found some Satoshi/Mike emails but none of them had this line and many links were dead. 🙏

Cullen Hoback's latest documentary, "Money Electric: The Bitcoin Mystery", follows on his previous Qanon documentary, "Q: Into the Storm". Hoback is good at getting his camera into the room and on the private jet with the likes of Adam Back, Samson Mow, and Peter Todd. The film follows Mow traveling the world and promoting his new company, Jan 3. Footage of Bitcoin conferences and parties introduces the viewer into the cult-like world of Bitcoin Maximalists. Adam Back and Samson Mow are treated as experts in the field of cryptocurrency, but they are frequently undermined by the more technical Peter Todd. Footage of El Salvador's Bukele addressing crowds about Bitcoin adoption in his country is intercut with footage of Prince Phillip of Serbia meeting with Mow.

Bitcoin Maximalism is lightly ridiculed by the film, but any coins other than Bitcoin are treated as scams. Ethereum is roasted for producing a "Scambrian Explosion" of NFTs and ERC20 tokens. When the subject of the Blocksize War emerges, Blockstream is introduced as the saviors of Bitcoin (which had me screaming at the screen). Interestingly, Adam Back and Peter Todd discuss why Peter Todd was never made an employee of Blockstream, saying it "would've been suspicious". In a glaring omission, the Lightning Network is never mentioned in the film. Those who lived through the Blocksize War know that Lightning was touted as the "preferred scaling solution for Bitcoin", which has unfortunately failed completely. The Bitcoin Cash fork is notably absent from the film. Roger Ver does appear in the film, and he discusses CIA and NSA infiltration of the project. Peter Todd's email leak comes up in the film, and Todd is questioned about his interactions with "J Dillon", his CIA handler during the development of RBF (replace by fee).

Hoback's conclusion that Peter Todd is Satoshi is based on a 2010 Bitcointalk post in which Todd appears to complete Satoshi's thought. Hardly a smoking gun. It is claimed by Todd's defenders that Todd was only 15 years old at the time and was "working on a fine arts degree". Todd does seem to be nervous when he's accused of being Satoshi, and it's certainly possible that he is part of the Satoshi identity, if it was shared amongst several people. Ultimately Hoback concludes that Todd fabricated the email leak, but there's really no evidence of it. Furthermore it's unclear why Todd would fabricate the leak.

Hoback couldn't secure an interview with Greg Maxwell, who is said to be suffering from continued harassment from the crypto commmunity. Todd says Greg "doesn't leave the house much". So at least there is some good news :). The most ridiculous part of the film is when "Satoshi reappears" and sends an email saying he "supports Blockstream" on keeping blocks small.

All in all, "Money Electric: The Bitcoin Mystery" is a good documentary even if it fails to conclusively find Satoshi's identity. Adam Back and Peter Todd's words will continue to be analyzed for any "tells", and Samson Mow decisively proves he's not particularly bright. The exclusion of Bitcoin Cash and all cryptocurrencies other than BTC merely shows the low level of intellect in the BTC Maxi community.

LESS USEFUL: "value" of the system accounting units priced in some fiat currencies

MORE USEFUL: fraction of global commerce transacted in the system, e.g.

• percentage of the number of transactions over number of all global transactions in same timeframe

• percentage of value transacted in some timeframe compared to the other common payment & settlement methods (maybe bring everything into a common unit of account e.g. via gold price)

There would be difficulty working these out. Statistics and surveying would need to be used.

But let's be honest - in today's world, the results would not (yet) be flattering for crypto "currency".

And it might surprise that coins ranked highly according to the current dollar price based market cap metric may rank much lower if looked at through the above glasses.

Now, if A and B are comparably good money, and legal to use in commerce, a merchant should not care much whether they get paid in A or B.

All things being equal, this should help a free market select against the worse forms of money and migrate to the better ones.

Of course, things are not equal - there is the famous network effect of money that factors extremely heavily.

But that - the actual network effect - is much better captured through evaluating the percentage of actual commercial transactions done with some money, rather than using the manipulable statistic of its supply capitalization via heavily inflated fiat.

10/14/2024 2:00 PM #Bitcoin Update:

1H Chart: Bitcoin broke out of a falling wedge pattern after filling the CME Gap as expected! 🚀📉

4H Chart: Bitcoin will face some resistance at the upper trendline of the Rising Wedge Pattern around the $67,232 resistance level. Right now, it’s hitting some resistance at $66,498, the last HH we had within the rising wedge. 🧱📊

Daily Chart: If and when Bitcoin breaks the upper trendline of the rising wedge pattern around $67,232, the measured target will be around $83,232. 💥💰

Once #Bitcoin breaks this resistance zone, it will go to the moon! 🌕🚀 This could be an opportunity to make life-changing trades at this point in the BullRun! 🎯📈

Do you know what it looks like in the digital realm?

• "Cash is trash" - Tyler Winklevoss
• "Bitcoin should not compete with the dollar or euro" - Michael Saylor
• "Bitcoin does nothing" - Jamie Dimon
• "The role of crypto is digitizing gold in many ways" - Larry Fink
• "The end game is to be the leading Bitcoin bank" - again, Michael Saylor
• "Bitcoin isn't for people earning less than $2 a day" - Samson Mow

If you find this confusing, and want to get to the bottom of it, a great starting point is to read this book:

https://www.hijackingbitcoin.com

Borrow it from a friend or find it in the library if you can't shell out, -

or watch the gist of it in the excellent online video shared by this post (thanks u/Pantera-BCH for making it accessible to more people):

https://www.reddit.com/r/btc/comments/1g2n3sa/hijacking_bitcoin_by_roger_ver/