The Corporate Takeover Attempt of Bitcoin

WhalePanda, Crypto OG

I’m keeping this short and gif-free (sorry), to not dilute the message.

September 2013:

Amir Taaki’s “The Libbitcoin Manifesto” was published. It is interesting and very relevant:

May-July 2017:

After a year of blocking Segwit for no technical reason, spreading lies/fud and all kinds of other attacks on Bitcoin… After BitcoinXT, Bitcoin Classic, Bitcoin Unlimited, BCoin, Bitcoin ABC, Bitcoin Parity… and God knows what other takeover attempts I’m missing… Bitcoin Segwit2x was born.

Segwit2x was created behind closed doors without any real Bitcoin devs, with a closed mailing list and a closed slack by a couple of companies to try to “scale Bitcoin and meet the demand of the users”.

This merged pull request is a great example of this corporate takeover.

The new seeds are coming from:

  • “is the world’s most popular bitcoin wallet.” With a history of hacks, horrible calculation of fees and you can’t even control your own private keys. Blaming Bitcoin Core for people getting their transactions stuck while their product isn’t calculating fees properly.
  • Bitpay’s CEO said at Consensus 2017 that he doesn’t care, he will just fork Bitcoin anyway, even if they are the only people/company using that fork.
  • OB1, frustrated since no one is actually using their product, for some reason it is of course Bitcoin Core’s fault.
  • Bloq tries to sell its own private blockchains, joined the EEA, has a bitcoin on-chain KYC system called Vulcan, and recently bought a taint tracing, fungibilty damaging company.

Segwit2x’s main developer and Bloq’s CEO, who has been anti-core and anti-segwit for a long time, claims that when one of the most respected people in crypto, Adam Back, states facts it is a “desperation smear”.

Another funny part is how he has been anti-segwit without even realizing how it actually works. There is a reason why Bitcoin Core devs are the best and no other implementation on Bitcoin has even come close to being a competitor.

Firing Bitcoin Core:

Obviously you can’t fire an open-source volunteering dev team, even though some people like Roger and Jihan are desperately trying.

This whole situation reminds me of something we’ve seen in history the last couple of centuries.

Starting with Christianity during the Middle Ages. Religious elites trying to keep the masses dumb and uneducated. Claiming that they know best what the people want. Anyone who didn’t agree with their point of view got executed (or literally fire(d)). Intellectuals/scientists (Bitcoin devs) got prosecuted because it messed with the way the religious elites wanted the common people to see the world, and they wanted to keep the power and wealth for themselves.

If you let corporations run the world, they probably want to pay people less.. or maybe nothing at all and have them work 16 hours per day.
In the 18th-19th century you had the rich landowners who were the only people with any rights and who were the only ones allowed to vote. They also tried to keep the power and wealth for themselves.

Fast forward to now: a few people (rich elite) making decisions behind closed doors for the “benefit of the people” isn’t Bitcoin, we have learned from history what this means.

We have this amazing financial instrument that gives everyone their own true financial freedom. What we are seeing now is the biggest threat Bitcoin has faced so far. This attack doesn’t come as a surprise, but honey badger doesn’t care about your corporate earnings.
To finish with Amir’s words:

“We have the initiative and the power. You know the truth of the world. Stop supporting your own enemies. We don’t need them. They need us. You are the one empowering them. Withdraw your consent. Withdraw your support. Don’t accept their terms or try to win a game where they set the rules. Don’t try to win your ruler’s favour. Don’t bother to beg for welfare or good treatment. Worst of all, don’t help them hunt down your neighbour.”

Ok 1 gif then, I know that’s why the majority of the people even bother to read my posts. When it comes to Bitcoin companies:

Source: Keeping Stock


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