<![CDATA[7Crypto - Crypto Stories]]> https://7crypto.net/ Wed, 06 May 2026 15:56:48 +0000 MyBB <![CDATA[How I Lost Nearly 200 BTC trading in 2018]]> https://7crypto.net/showthread.php?tid=8607 Sat, 08 Aug 2020 13:39:14 +0000 Capital]]> https://7crypto.net/showthread.php?tid=8607 So, long story short, I started trading a year ago, been margin longing the whole run from 1k to 19k ( sometimes closing the top, sometimes closing too early or too late, but always making profit)
I turned 3 lowly btc which I had from playing poker (at the time 3k) into nearly 200 BTC which was almost 4 million at the top and would be 2 million at current prices.
I thought I was a trading genius, a god, whatever. Anyway, this is where the sadness starts.
After the dump from 19k to 11k I went long at the bottom, and kept adding to my position on the bounce to 12k 13k, 14k. Then, at the 16k dead cat, my position was a further 100 BTC in profit. Instead of closing then and having a total 300 BTC, I increased leverage and increased my position size. This entire position was liquadated on the drop back to 12k, because my entry had moved up so much. I lost 100 btc paper profit and nearly 50 BTC margin. I was devasted, and down to 150 BTC total.
After evaluating the situation, I came to the conclusion that the pump to 16k was a dead cat and that we are going lower. Therefore I shorted. At 12k. Added at 13k. Added at 14 and 15k. Got liquidated at the top at 17k. Another 50 BTC loss. Down to 100.
Think, ok we made a higher high at 17k, uptrend back on. Went long. Got liquidated at 13k.
50 BTC left. Devastated, unsure, no clue whats going on. Sat through the drop to 9k, when we bounced I thought it could be the bottom. Longed at 11500, panic closed 10500. When we went to 13k I was kicking myself for panic closing, went long at 12800.
Liquidated this morning for my last bitcoin.
3 BTC to 200, to 0
At this time I am still in shock, the last few months Ive neglected relationships and school, and Ive been daydreaming about living the high life rich as fuck with my millions.
Now, I am nowhere.
Posting this so others dont gamble away life changing money. Dont want donations or tips not posting an address dont PM me. I never want to hear the word btc again because I want to forgetKind Regards R]]> So, long story short, I started trading a year ago, been margin longing the whole run from 1k to 19k ( sometimes closing the top, sometimes closing too early or too late, but always making profit)
I turned 3 lowly btc which I had from playing poker (at the time 3k) into nearly 200 BTC which was almost 4 million at the top and would be 2 million at current prices.
I thought I was a trading genius, a god, whatever. Anyway, this is where the sadness starts.
After the dump from 19k to 11k I went long at the bottom, and kept adding to my position on the bounce to 12k 13k, 14k. Then, at the 16k dead cat, my position was a further 100 BTC in profit. Instead of closing then and having a total 300 BTC, I increased leverage and increased my position size. This entire position was liquadated on the drop back to 12k, because my entry had moved up so much. I lost 100 btc paper profit and nearly 50 BTC margin. I was devasted, and down to 150 BTC total.
After evaluating the situation, I came to the conclusion that the pump to 16k was a dead cat and that we are going lower. Therefore I shorted. At 12k. Added at 13k. Added at 14 and 15k. Got liquidated at the top at 17k. Another 50 BTC loss. Down to 100.
Think, ok we made a higher high at 17k, uptrend back on. Went long. Got liquidated at 13k.
50 BTC left. Devastated, unsure, no clue whats going on. Sat through the drop to 9k, when we bounced I thought it could be the bottom. Longed at 11500, panic closed 10500. When we went to 13k I was kicking myself for panic closing, went long at 12800.
Liquidated this morning for my last bitcoin.
3 BTC to 200, to 0
At this time I am still in shock, the last few months Ive neglected relationships and school, and Ive been daydreaming about living the high life rich as fuck with my millions.
Now, I am nowhere.
Posting this so others dont gamble away life changing money. Dont want donations or tips not posting an address dont PM me. I never want to hear the word btc again because I want to forgetKind Regards R]]> <![CDATA[The Truth About /r/Bitcoin And /r/btc]]> https://7crypto.net/showthread.php?tid=186 Mon, 25 Mar 2019 12:28:52 +0000 Computator]]> https://7crypto.net/showthread.php?tid=186 https://medium.com/cryptolinks/the-truth...c4f78b27d0

[Image: 0*-zRPta3TFaamsOA4.png]
The fight between /r/Bitcoin and /r/btc features another plot twist. Yesterday /u/censorship_notifier committed a post, where he finally acknowledged the most recent vote manipulation attack against /r/Bitcoin. In this case, the attack implied both bots and hacked Reddit accounts and these were used to pump Bitcoin Cash. But his post was not about this. His post was accusing /r/Bitcoin moderators and Gregory Maxwell (/u/nullc) of being the ones who executed this attack. Against themselves.
This may sound ridiculous, and of course it is. I let you read the point by point rebuttal of /u/thieflar, if you are interested in this particular chapter. Rather, in this article I would like to go into how the hell did we end up here?
But before that, take some time to think about the following two concepts.
Middle Ground Fallacy
Quote:An informal fallacy which asserts that the truth must be found as a compromise between two opposite positions. This fallacy’s opposite is the false dilemma.
What Wikipedia describes may be the most common trap, many Bitcoiners fell into. There is no need to further discuss it, if you are living in the Bitcoin World for a while now, chances are dozens of examples are coming to your mind in this very moment.
Well-Kept Gardens Die By Pacifism
The mini essay of Eliezer Yudkowsky is a true masterpiece, that perfectly describes how Internet communities die by refusing to defend themselves.


[Image: 0*JlFKhbTDHNDFpqCV.png]
xkcd
Quote:Somewhere in the vastness of the Internet, it is happening even now. It was once a well-kept garden of intelligent discussion, where knowledgeable and interested folk came, attracted by the high quality of speech they saw ongoing. But into this garden comes a fool, and the level of discussion drops a little — or more than a little, if the fool is very prolific in their posting.
Quote:So the garden is tainted now, and it is less fun to play in; the old inhabitants, already invested there, will stay, but they are that much less likely to attract new blood. Or if there are new members, their quality also has gone down.
Quote:Then another fool joins, and the two fools begin talking to each other, and at that point some of the old members, those with the highest standards and the best opportunities elsewhere, leave…
Quote:But when the fools begin their invasion, some communities think themselves too good to use their banhammer for — gasp! — censorship.
/r/Bitcoin Before The Scaling Wars
“I created this meme on the price!”, “Oh, no! China banned Bitcoin again! That’s actually good for Bitcoin, here’s why!”, “Hey, my price analysis is 100% correct, look at the lines I drew!”, “My Blockchain.info account just got hackedSad“, “Hey here’s my new project about a new, decentralized internet!”, “Much crypto, such coin, to da moon!”.
Was this community perfect? Hell no! But it was relaxing, often informative and always fun to check out. To some extent, today’s /r/Bitcoin is similar to what we had back then, it got a more toxic, but not terrible. For a terrible subreddit example, check out /r/btc: 30% of the posts are toxic conspiracy theories on how /r/Bitcoin sucks, 30% of the posts are toxic conspiracy theories on how much Bitcoin developers suck, 30% of the posts are worshiping known scammers, fraudsters, con men and fake Satoshis. The rest is about positive initiatives on how to genuinely improve Bitcoin Cash. /r/btc is the true mirror of rotten, malign and ill-minded souls. It is likely how hell looks like.
So, can you blame /r/Bitcoin moderators for taking a heavy handed approach on moderation, in order to avoid their child turn into a shithole, like the other subreddit? Maybe. Maybe /r/Bitcoin’s moderation policies were the very reason why the other sub turned out to be this way. However, as you’ll see later, I will argue /r/Bitcoin moderators did not have a choice. The vote manipulation attack were so severe that, without moderation /r/Bitcoin would be the shithole of Bitcoin today. Not /r/btc.
The Shadow Of Menace
Back in 2014, Gavin Andresen got an idea. Let’s roll out a new block size limit at 20MB! Other than Mike Hearn there was not a single developer who got behind his proposal. And instead of trying to find a scaling solution he decided to bypass the usual FOSS methodology to achieve consensus among developers, and started a blogging campaign.
Bitcoin XT
When that failed, they created Bitcoin XT, which was aiming for 8MB, and they elevated their campaign to new levels. Maybe it wasn’t them, but in 2015 someone started the first vote manipulation attack against /r/Bitcoin to push Bitcoin XT. Things went so far that someone sent a message from Satoshi’s email address, (as of today, the authenticity of the email has not been debunked), which made /u/theymos to take a step and impose temporary rules to crack down on the mess and just like this /r/btc was born. 
Regardless if the email came from Satoshi, or not, it is a great summary of the situation back then. The content is instructive and it still rings true:
I have been following the recent block size debates through the mailing list.  I had hoped the debate would resolve and that a fork proposal would achieve widespread consensus.  However with the formal release of Bitcoin XT 0.11A, this looks unlikely to happen, and so I am forced to share my concerns about this very dangerous fork.

The developers of this pretender-Bitcoin claim to be following my original vision, but nothing could be further from the truth.  When I designed Bitcoin, I designed it in such a way as to make future modifications to the consensus rules difficult without near unanimous agreement.  Bitcoin was designed to be protected from the influence of charismatic leaders, even if their name is Gavin Andresen, Barack Obama, or Satoshi Nakamoto.  Nearly everyone has to agree on a change, and they have to do it without being forced or pressured into it.  By doing a fork in this way, these developers are violating the "original vision" they claim to honour.

They use my old writings to make claims about what Bitcoin was supposed to be.  However I acknowledge that a lot has changed since that time, and new knowledge has been gained that contradicts some of my early opinions.  For example I didn't anticipate pooled mining and its effects on the security of the network.  Making Bitcoin a competitive monetary system while also preserving its security properties is not a trivial problem, and we should take more time to come up with a robust solution.  I suspect we need a better incentive for users to run nodes instead of relying solely on altruism.

If two developers can fork Bitcoin and succeed in redefining what "Bitcoin" is, in the face of widespread technical criticism and through the use of populist tactics, then I will have no choice but to declare Bitcoin a failed project.  Bitcoin was meant to be both technically and socially robust.  This present situation has been very disappointing to watch unfold.

Satoshi Nakamoto
Bitcoin Classic, Bitcoin Unlimited, Bitcoin Cash, Bitcoin 2X
Quote:Oh no, I’m losing an argument. Look over there CENSORSHIP!
The appearance of Bitcoin Classic also marks the beginning to the ruling of Roger Ver, The Liar. Around this time, he bought /r/btc and ironically started imposing censorship on /r/btc himself. He also got caught red-handed many times for vote manipulation, buying votes and twitter likes. In sum Roger Ver is most notable for paying millions in social media attacks against Bitcoin. He perfected his social media attacks, not only the only advertisement on /r/Bitcoin was about /r/btc, he constantly stickied /r/Bitcoin bashing posts to his subreddit, he created Bitcoin.com to push his propaganda, paid dozens of Reddit and Medium pseudonymous writers, who are constantly posting walls of spaghetti texts and so on.
Final Thoughts
So here we are in 2017, and you are demanding /r/Bitcoin moderators to silently sit back and watch how millions being poured into vote manipulation on their subreddit.Kind Regards R]]> https://medium.com/cryptolinks/the-truth...c4f78b27d0

[Image: 0*-zRPta3TFaamsOA4.png]
The fight between /r/Bitcoin and /r/btc features another plot twist. Yesterday /u/censorship_notifier committed a post, where he finally acknowledged the most recent vote manipulation attack against /r/Bitcoin. In this case, the attack implied both bots and hacked Reddit accounts and these were used to pump Bitcoin Cash. But his post was not about this. His post was accusing /r/Bitcoin moderators and Gregory Maxwell (/u/nullc) of being the ones who executed this attack. Against themselves.
This may sound ridiculous, and of course it is. I let you read the point by point rebuttal of /u/thieflar, if you are interested in this particular chapter. Rather, in this article I would like to go into how the hell did we end up here?
But before that, take some time to think about the following two concepts.
Middle Ground Fallacy
Quote:An informal fallacy which asserts that the truth must be found as a compromise between two opposite positions. This fallacy’s opposite is the false dilemma.
What Wikipedia describes may be the most common trap, many Bitcoiners fell into. There is no need to further discuss it, if you are living in the Bitcoin World for a while now, chances are dozens of examples are coming to your mind in this very moment.
Well-Kept Gardens Die By Pacifism
The mini essay of Eliezer Yudkowsky is a true masterpiece, that perfectly describes how Internet communities die by refusing to defend themselves.


[Image: 0*JlFKhbTDHNDFpqCV.png]
xkcd
Quote:Somewhere in the vastness of the Internet, it is happening even now. It was once a well-kept garden of intelligent discussion, where knowledgeable and interested folk came, attracted by the high quality of speech they saw ongoing. But into this garden comes a fool, and the level of discussion drops a little — or more than a little, if the fool is very prolific in their posting.
Quote:So the garden is tainted now, and it is less fun to play in; the old inhabitants, already invested there, will stay, but they are that much less likely to attract new blood. Or if there are new members, their quality also has gone down.
Quote:Then another fool joins, and the two fools begin talking to each other, and at that point some of the old members, those with the highest standards and the best opportunities elsewhere, leave…
Quote:But when the fools begin their invasion, some communities think themselves too good to use their banhammer for — gasp! — censorship.
/r/Bitcoin Before The Scaling Wars
“I created this meme on the price!”, “Oh, no! China banned Bitcoin again! That’s actually good for Bitcoin, here’s why!”, “Hey, my price analysis is 100% correct, look at the lines I drew!”, “My Blockchain.info account just got hackedSad“, “Hey here’s my new project about a new, decentralized internet!”, “Much crypto, such coin, to da moon!”.
Was this community perfect? Hell no! But it was relaxing, often informative and always fun to check out. To some extent, today’s /r/Bitcoin is similar to what we had back then, it got a more toxic, but not terrible. For a terrible subreddit example, check out /r/btc: 30% of the posts are toxic conspiracy theories on how /r/Bitcoin sucks, 30% of the posts are toxic conspiracy theories on how much Bitcoin developers suck, 30% of the posts are worshiping known scammers, fraudsters, con men and fake Satoshis. The rest is about positive initiatives on how to genuinely improve Bitcoin Cash. /r/btc is the true mirror of rotten, malign and ill-minded souls. It is likely how hell looks like.
So, can you blame /r/Bitcoin moderators for taking a heavy handed approach on moderation, in order to avoid their child turn into a shithole, like the other subreddit? Maybe. Maybe /r/Bitcoin’s moderation policies were the very reason why the other sub turned out to be this way. However, as you’ll see later, I will argue /r/Bitcoin moderators did not have a choice. The vote manipulation attack were so severe that, without moderation /r/Bitcoin would be the shithole of Bitcoin today. Not /r/btc.
The Shadow Of Menace
Back in 2014, Gavin Andresen got an idea. Let’s roll out a new block size limit at 20MB! Other than Mike Hearn there was not a single developer who got behind his proposal. And instead of trying to find a scaling solution he decided to bypass the usual FOSS methodology to achieve consensus among developers, and started a blogging campaign.
Bitcoin XT
When that failed, they created Bitcoin XT, which was aiming for 8MB, and they elevated their campaign to new levels. Maybe it wasn’t them, but in 2015 someone started the first vote manipulation attack against /r/Bitcoin to push Bitcoin XT. Things went so far that someone sent a message from Satoshi’s email address, (as of today, the authenticity of the email has not been debunked), which made /u/theymos to take a step and impose temporary rules to crack down on the mess and just like this /r/btc was born. 
Regardless if the email came from Satoshi, or not, it is a great summary of the situation back then. The content is instructive and it still rings true:
I have been following the recent block size debates through the mailing list.  I had hoped the debate would resolve and that a fork proposal would achieve widespread consensus.  However with the formal release of Bitcoin XT 0.11A, this looks unlikely to happen, and so I am forced to share my concerns about this very dangerous fork.

The developers of this pretender-Bitcoin claim to be following my original vision, but nothing could be further from the truth.  When I designed Bitcoin, I designed it in such a way as to make future modifications to the consensus rules difficult without near unanimous agreement.  Bitcoin was designed to be protected from the influence of charismatic leaders, even if their name is Gavin Andresen, Barack Obama, or Satoshi Nakamoto.  Nearly everyone has to agree on a change, and they have to do it without being forced or pressured into it.  By doing a fork in this way, these developers are violating the "original vision" they claim to honour.

They use my old writings to make claims about what Bitcoin was supposed to be.  However I acknowledge that a lot has changed since that time, and new knowledge has been gained that contradicts some of my early opinions.  For example I didn't anticipate pooled mining and its effects on the security of the network.  Making Bitcoin a competitive monetary system while also preserving its security properties is not a trivial problem, and we should take more time to come up with a robust solution.  I suspect we need a better incentive for users to run nodes instead of relying solely on altruism.

If two developers can fork Bitcoin and succeed in redefining what "Bitcoin" is, in the face of widespread technical criticism and through the use of populist tactics, then I will have no choice but to declare Bitcoin a failed project.  Bitcoin was meant to be both technically and socially robust.  This present situation has been very disappointing to watch unfold.

Satoshi Nakamoto
Bitcoin Classic, Bitcoin Unlimited, Bitcoin Cash, Bitcoin 2X
Quote:Oh no, I’m losing an argument. Look over there CENSORSHIP!
The appearance of Bitcoin Classic also marks the beginning to the ruling of Roger Ver, The Liar. Around this time, he bought /r/btc and ironically started imposing censorship on /r/btc himself. He also got caught red-handed many times for vote manipulation, buying votes and twitter likes. In sum Roger Ver is most notable for paying millions in social media attacks against Bitcoin. He perfected his social media attacks, not only the only advertisement on /r/Bitcoin was about /r/btc, he constantly stickied /r/Bitcoin bashing posts to his subreddit, he created Bitcoin.com to push his propaganda, paid dozens of Reddit and Medium pseudonymous writers, who are constantly posting walls of spaghetti texts and so on.
Final Thoughts
So here we are in 2017, and you are demanding /r/Bitcoin moderators to silently sit back and watch how millions being poured into vote manipulation on their subreddit.Kind Regards R]]> <![CDATA[What happened with Litecoin in 2018]]> https://7crypto.net/showthread.php?tid=185 Mon, 25 Mar 2019 12:05:26 +0000 Dato]]> https://7crypto.net/showthread.php?tid=185
[Image: ed5p5fk95a421.jpg]Kind Regards R]]>
[Image: ed5p5fk95a421.jpg]Kind Regards R]]> <![CDATA[I am a time traveler begging you to stop what you are doing]]> https://7crypto.net/showthread.php?tid=184 Sat, 02 Mar 2019 18:33:38 +0000 Andy]]> https://7crypto.net/showthread.php?tid=184 [Image: yeGEWsB.jpg]
I am sending this message from the year 2025. Things are looking bleak here, and some of you will carry blood on your hands.

Please move on if you don’t believe me, I have no way of proving I’m going to tell you.
I don’t want to waste your time, so I’m merely going to explain what happened and its consequences.
The value of Bitcoin has increased by about a factor ten, on average, every year until 2013.
  • $0.1 in 2010
  • $1 in 2011
  • $10 in 2012
  • $100 in 2013
From then on, a slight slowdown, as the value increased by a factor ten every two years.
  • $1,000 in 2015
  • $10,000 in 2017
  • $100,000 in 2019
  • $1,000,000 in 2021
From there onwards, there’s no good way of expressing its value in dollars, as the dollar is no longer used, nor is there any central bank issued currency for that matter.
There are two main forms of wealth in today’s world: Land and Cryptocurrency.
Just over 19 million Bitcoin are known to be used in the world today, a few hundred of thousand were permanently lost, and we have a population of just over 7 billion people.
On average, this means the average person owns just under 0.003 bitcoin. However, due to the unequal distribution of wealth in my world, the mean person owns less than 0.001 bitcoin.
That’s right, most of you reading this today are rich if you didn’t loose your wallet. I live near an annoying young man who checked his old wallet account two years ago and discovered that he received a tip of 0.01 Bitcoin back in 2013 for calling someone a “faggot” when he was a 16 year old boy. Upon making this discovery he bought an airline ticket, left his house without telling anyone and escaped to a Citadel.
“What is a Citadel?” you might wonder. Well, by the time Bitcoin reached $1M, services began to emerge for the “Bitcoin rich” to protect themselves as well as their wealth.
It started with expensive safes, then began to include bodyguards, and today, “earlies” (our term for early adapters), as well as those rich whose wealth survived the “transition” live in isolated gated cities called Citadels, where most work is automated.
Most such Citadels are born out of the fortification used to protect places where Bitcoin mining machines were located. The company known as ASICMiner is known here as a city where Mr. Friedman rules as a king.
In my world, soon to be your world, most governments no longer exist, as Bitcoin transactions are done anonymously and thus governments can’t enforce taxation on their citizens.
Exchanges of services are nearly all online, totally decentralized and anonymous.
Most of the success of Bitcoin is due to the fact that Bitcoin turned out to be an effective method to hide your wealth from the government. Whereas people entering “rogue states” like Luxembourg, Monaco and Liechtenstein were followed by unmanned drones to ensure that governments know who is hiding wealth, no such option was available to stop people from hiding their money in the blockchain.
Governments tried to stay relevant by buying Bitcoins, this made the problem worse, as it increased the value of Bitcoin further.
Governments did so in secret of course, but the generation’s “Snowdens” have become greedy government employees who transferred Bitcoin to their own private wallet, and escaped to anarchic places where no questions are asked as long as you can cough up some crypto.
The four institutions with the largest still accessible Bitcoin balance are believed to be as following:
  • ASICMiner: 50,000 Bitcoin
  • The IMF’s “Currency Stabilization Fund”: 70,000 Bitcoin
  • Government of Saudi Arabia: 110,000 Bitcoin
  • The North Korean government: 180,000 Bitcoin
Economic growth today is about -2% per year.
Why is this?
If you own more than 0.01 Bitcoin, chances are you don’t do anything with your money. There is no inflation, and thus no incentive to invest your money. Just like the medieval ages had no significant economic growth, as wealth was measured in gold, our society has no economic growth either, as people know their 0.01 Bitcoin will be enough to last them a lifetime.
The fact that there are still new Bitcoin released is what prevents our world from collapse so far it seems, but people fear that the decline in inflation that will occur during the next block halving may further wreck our economy.
What happened to the Winklevoss twins? They were among the first to die. After seeing the enormous damage done to our society, terrorist movements emerged that sought to hunt down and murder anyone known to have a large balance of Bitcoin, or believed to be responsible in any way for the development of cryptocurrency.
Ironically, these terrorist movements use Bitcoin to anonymously fund their operations.
Most people who own any significant amount of Bitcoin no longer speak to their families and lost their friends, because they had to change their identities. There have been also been a few suicides of people who could not handle the guilt after seeing what happened to the bag-holders, the type of skeptical people who continued to believe it would eventually collapse, even after hearing the rumors of governments buying Bitcoin.
Many people were taken hostage, and thus, it is suspected that 25% percent of the “Bitcoin riches” actually physically tortured someone to get him to spill his wallet.
Why didn’t we abandon Bitcoin, and move to another system? Well, we tried of course. We tried to step over to an inflationary cryptocurrency, but nobody with an IQ above 70 was willing to step up first and volunteer.
After all, why would you voluntarily invest a lot of your money into a currency you know would continually decline in value? The thing that made Bitcoin so dangerous to society was also what made it so successful.
Bitcoin allows us to give into our greed.
In Africa, surveys show that an estimated 70% of people believe that Bitcoin was invented by the devil himself.
There’s a reason for this, it’s a very sensitive issue that today is generally referred to as “the tragedy”.
The African Union had ambitious plans to help its citizens be ready to step over to Bitcoin. Governments gave their own citizens cell phones for free, tied to their government ID, and thus government sought to integrate Bitcoin into their economy. All went well, until “the tragedy” happened. A criminal organization, believed to be located in Russia, exploited a hardware fault in the government issued cell phones. It’s believed that the entire continent of Africa lost an estimated 60% of its wealth in a period of 48 hours. What followed was a period of chaos and civil war, until Saudi Arabia and the North Korean government, two of the world’s major superpowers due to their authoritarian political system’s unique ability to adapt to the “Bitcoin challenge”, divided most African land between themselves and were praised as heroes by the local African population for it.
You might wonder, what is our plan now? It’s clear that the current situation can’t last much longer, without ending in a nuclear holocaust. I am part of an underground network, who seek to launch a coordinated attack against the very infrastructure of the Internet itself. We have at our disposal about 20 nuclear submarines, which we will use to cut all underwater cables between different continents. After this has been successfully achieved, we will launch a simultaneous nuclear pulse attack on every densely population area of the world. We believe that the resulting chaos will allow the world’s population to rise up in revolt, and destroy as many computers out there as possible, until we reach the point where Bitcoin loses any relevance.
Of course, this outcome will likely lead to billions of deaths. This is a price we are forced to pay, to avoid the eternal enslavement of humanity to a tiny elite.
This is also the reason we are sending this message to your time.
It doesn’t have to be like this. You do not have to share our fate. I don’t know how, but you must find a way to destroy this godforsaken project in its infancy. I know this is a difficult thing to ask of you.
You believed you were helping the world by eliminating the central banking cartel that governs your economies.
However, I have seen where it ends.

Originally a reddit post by Luka_Magnotta.Kind Regards R]]> [Image: yeGEWsB.jpg]
I am sending this message from the year 2025. Things are looking bleak here, and some of you will carry blood on your hands.

Please move on if you don’t believe me, I have no way of proving I’m going to tell you.
I don’t want to waste your time, so I’m merely going to explain what happened and its consequences.
The value of Bitcoin has increased by about a factor ten, on average, every year until 2013.
  • $0.1 in 2010
  • $1 in 2011
  • $10 in 2012
  • $100 in 2013
From then on, a slight slowdown, as the value increased by a factor ten every two years.
  • $1,000 in 2015
  • $10,000 in 2017
  • $100,000 in 2019
  • $1,000,000 in 2021
From there onwards, there’s no good way of expressing its value in dollars, as the dollar is no longer used, nor is there any central bank issued currency for that matter.
There are two main forms of wealth in today’s world: Land and Cryptocurrency.
Just over 19 million Bitcoin are known to be used in the world today, a few hundred of thousand were permanently lost, and we have a population of just over 7 billion people.
On average, this means the average person owns just under 0.003 bitcoin. However, due to the unequal distribution of wealth in my world, the mean person owns less than 0.001 bitcoin.
That’s right, most of you reading this today are rich if you didn’t loose your wallet. I live near an annoying young man who checked his old wallet account two years ago and discovered that he received a tip of 0.01 Bitcoin back in 2013 for calling someone a “faggot” when he was a 16 year old boy. Upon making this discovery he bought an airline ticket, left his house without telling anyone and escaped to a Citadel.
“What is a Citadel?” you might wonder. Well, by the time Bitcoin reached $1M, services began to emerge for the “Bitcoin rich” to protect themselves as well as their wealth.
It started with expensive safes, then began to include bodyguards, and today, “earlies” (our term for early adapters), as well as those rich whose wealth survived the “transition” live in isolated gated cities called Citadels, where most work is automated.
Most such Citadels are born out of the fortification used to protect places where Bitcoin mining machines were located. The company known as ASICMiner is known here as a city where Mr. Friedman rules as a king.
In my world, soon to be your world, most governments no longer exist, as Bitcoin transactions are done anonymously and thus governments can’t enforce taxation on their citizens.
Exchanges of services are nearly all online, totally decentralized and anonymous.
Most of the success of Bitcoin is due to the fact that Bitcoin turned out to be an effective method to hide your wealth from the government. Whereas people entering “rogue states” like Luxembourg, Monaco and Liechtenstein were followed by unmanned drones to ensure that governments know who is hiding wealth, no such option was available to stop people from hiding their money in the blockchain.
Governments tried to stay relevant by buying Bitcoins, this made the problem worse, as it increased the value of Bitcoin further.
Governments did so in secret of course, but the generation’s “Snowdens” have become greedy government employees who transferred Bitcoin to their own private wallet, and escaped to anarchic places where no questions are asked as long as you can cough up some crypto.
The four institutions with the largest still accessible Bitcoin balance are believed to be as following:
  • ASICMiner: 50,000 Bitcoin
  • The IMF’s “Currency Stabilization Fund”: 70,000 Bitcoin
  • Government of Saudi Arabia: 110,000 Bitcoin
  • The North Korean government: 180,000 Bitcoin
Economic growth today is about -2% per year.
Why is this?
If you own more than 0.01 Bitcoin, chances are you don’t do anything with your money. There is no inflation, and thus no incentive to invest your money. Just like the medieval ages had no significant economic growth, as wealth was measured in gold, our society has no economic growth either, as people know their 0.01 Bitcoin will be enough to last them a lifetime.
The fact that there are still new Bitcoin released is what prevents our world from collapse so far it seems, but people fear that the decline in inflation that will occur during the next block halving may further wreck our economy.
What happened to the Winklevoss twins? They were among the first to die. After seeing the enormous damage done to our society, terrorist movements emerged that sought to hunt down and murder anyone known to have a large balance of Bitcoin, or believed to be responsible in any way for the development of cryptocurrency.
Ironically, these terrorist movements use Bitcoin to anonymously fund their operations.
Most people who own any significant amount of Bitcoin no longer speak to their families and lost their friends, because they had to change their identities. There have been also been a few suicides of people who could not handle the guilt after seeing what happened to the bag-holders, the type of skeptical people who continued to believe it would eventually collapse, even after hearing the rumors of governments buying Bitcoin.
Many people were taken hostage, and thus, it is suspected that 25% percent of the “Bitcoin riches” actually physically tortured someone to get him to spill his wallet.
Why didn’t we abandon Bitcoin, and move to another system? Well, we tried of course. We tried to step over to an inflationary cryptocurrency, but nobody with an IQ above 70 was willing to step up first and volunteer.
After all, why would you voluntarily invest a lot of your money into a currency you know would continually decline in value? The thing that made Bitcoin so dangerous to society was also what made it so successful.
Bitcoin allows us to give into our greed.
In Africa, surveys show that an estimated 70% of people believe that Bitcoin was invented by the devil himself.
There’s a reason for this, it’s a very sensitive issue that today is generally referred to as “the tragedy”.
The African Union had ambitious plans to help its citizens be ready to step over to Bitcoin. Governments gave their own citizens cell phones for free, tied to their government ID, and thus government sought to integrate Bitcoin into their economy. All went well, until “the tragedy” happened. A criminal organization, believed to be located in Russia, exploited a hardware fault in the government issued cell phones. It’s believed that the entire continent of Africa lost an estimated 60% of its wealth in a period of 48 hours. What followed was a period of chaos and civil war, until Saudi Arabia and the North Korean government, two of the world’s major superpowers due to their authoritarian political system’s unique ability to adapt to the “Bitcoin challenge”, divided most African land between themselves and were praised as heroes by the local African population for it.
You might wonder, what is our plan now? It’s clear that the current situation can’t last much longer, without ending in a nuclear holocaust. I am part of an underground network, who seek to launch a coordinated attack against the very infrastructure of the Internet itself. We have at our disposal about 20 nuclear submarines, which we will use to cut all underwater cables between different continents. After this has been successfully achieved, we will launch a simultaneous nuclear pulse attack on every densely population area of the world. We believe that the resulting chaos will allow the world’s population to rise up in revolt, and destroy as many computers out there as possible, until we reach the point where Bitcoin loses any relevance.
Of course, this outcome will likely lead to billions of deaths. This is a price we are forced to pay, to avoid the eternal enslavement of humanity to a tiny elite.
This is also the reason we are sending this message to your time.
It doesn’t have to be like this. You do not have to share our fate. I don’t know how, but you must find a way to destroy this godforsaken project in its infancy. I know this is a difficult thing to ask of you.
You believed you were helping the world by eliminating the central banking cartel that governs your economies.
However, I have seen where it ends.

Originally a reddit post by Luka_Magnotta.Kind Regards R]]> <![CDATA[How Did I Discover Cryptocurrency and Why I Choose BitcoinCash]]> https://7crypto.net/showthread.php?tid=178 Sun, 24 Feb 2019 13:20:15 +0000 Varius]]> https://7crypto.net/showthread.php?tid=178 The answer to this first question is not as easy to answer as you would think. Right before the split between Bitcoin and BitcoinCash I met someone very involved in the community we were discussing how I became a libertarian which naturally lead us to a discussion about economic freedom, Ross Ulbricht and then Bitcoin. The following day I ran home and researched Silk Road and Ross Ulbricht. Five minutes later, I had signed the petition. My interest was piqued, I started to do my own research in regards to Bitcoin. I bought several books but all that did was confuse me more. I started watching YouTube videos and remember thinking to myself “who are these people” and “are they even speaking English” but I kept researching determined to learn about economic freedom, I just couldn’t grasp how someone could gain economic freedom with online money.
Fast forward to the Bitcoin/BitcoinCash fork, I knew this was a big deal but I didn’t know what was going to happen. So I called my friend and set up another time to meet, well this time I was prepared I had my notes laid out from the books I had read and I was pretty proud of myself after all Bitcoin is not easy to understand with words like nodes, Raspberry Pi's (what does pie have to do with economic freedom), miners, QR's, checkpoints, lightning (still waiting) and why only 21 million and do I have to buy a full coin? I mean this list goes on (after all I am much older than the usual crypto enthusiast) little did I know I had already entered the rabbit hole and from the look I received from my friend he knew it. So after 2 days that was it, I needed to get my hands on Bitcoin.
As soon as I got home I joined Coinbase and I saw a few coins listed and thought Bitcoin is really expensive and I can get 4 times the amount with this coin called Litecoin so I put in a buy order for that, Etherum and BitcoinCash. I had never been a huge fan of Social Media but at this time I decided I needed to join Twitter to see what others were experiencing and oh God what a jolt to the senses that was. Everyone tweeting why this and that coin is bad and this person is bad and that person is good, Crypto Twitter can be a shit show especially in the beginning and being new to both Twitter and Crypto my brain was in overload. I followed my friend on Twitter and just started to pay attention to him and basically began stalking his feed and Youtube channel but I never really engaged (I truly felt like a stalker). But I was learning my way around and who did what in their relative fields.
As everyone knows Coinbase can be very frustrating because it seems like forever before you have access to your coins and the whole time I’m thinking what have I done? So a month went by and I finally received an email saying my funds are now available in Coinbase I opened up that app and to my surprise, my money had just quadrupled. I had learned while investing once you make back your initial investment sell that portion and that is exactly what I did! But the damage had been done I was hooked and immediately took that initial investment and bought every altcoin I could get my hands on via Binance, which can seriously do some damage to your wallet.
I still really did not know what to do with Cryptocurrency, there were all these wallets, but why were they needed if all it did was sit there like digital gold. So I started to engage with people on Twitter to discover what others were doing, I didn’t have any followers so outside of a few likes here and there I would never really get any feedback. I asked my friend about this and he started to respond to me and soon after that, others started to respond to me, then I was included in threads and I had my first Crypto Twitter follower, he was no joke and little did I know at that time how much of an influence this person would have in my Twitter and Crypto life. But Crypto Twitter will have to be its own story.
As I started to learn how to navigate my way through Crypto Twitter and began to understand the correct questions to ask I began to get the answers I needed. These questions amounted to where/who accepts crypto and why is this coin better than that coin? The people that came forward were the BitcoinCash community, I couldn’t understand why was it only the BitcoinCash people that would respond to me, after all, there are so many coins out there? But these were the people that had a passion for what they were doing and believed in that passion, from the CEO to the developers down to the end user. It was like a breath of fresh air to find people passionate about rewarding hard work and not caring about who you are and which country you are from along with giving back to communities that are far less fortunate by no fault of their own they just don’t have access to resources that are available to Western Nations, Europe, and Asia. I discovered the philanthropic work was incredible and still to this day I still am overwhelmed by how much the BitcoinCash community does and feel very fortunate to be a part of it.
Downloading wallet after wallet, I discovered some were easy some were difficult and well some were just ridiculous. I started to tag random developers on Twitter and honestly was surprised when they responded to me and offered their help after all these are really busy people why would they take the time to help one person. The reason is simple they want Cryptocurrency to be a success and they understand how difficult it is, especially for an older person who just got her first smartphone 2 years earlier. After learning about the importance of 12-word seed phrases how a QR code works and legacy addresses I now felt comfortable enough to begin introducing people to cryptocurrency and more importantly BitcoinCash. Little did I know how difficult this would be, I mean who doesn’t want money even if it’s free.
After months of interaction on Twitter and other platforms, I decided I needed to do something besides just talking about Crypto I needed to shout it from the rooftops. I desperately wanted to find others around me that I could share my experiences with so I created a Meetup in my area and began talking about it at work with my friends and family I just started telling everyone I ran into have you heard about BitcoinCash? “No” here let me show you” inevitably I started to hear oh that’s for drug dealers or it’s a scam. So now I thought how do I get past this obstacle that CNN and Fox News has put in front of me? I became more determined than ever to beat them at their own game. I had another hurdle to jump, so my path now came to what is an everyday product I can buy with Bitcoincash? Well, there are tons you just have to find them, and since my area of the country is about 10 years behind the rest of the country this was very difficult. But one thing I do a lot is travel and I was about to buy a plane ticket so I found CheapAir.com which accepts BitcoinCash, so I used that and discovered how easy it is, I can literally lay in bed find a flight and/or a hotel and right there without turning on the lights or getting up for my credit card number. What about overcoming only drug dealers use it (which my stepmom throws in my face almost every day) so for Christmas I purchased her some beauty products with BitcoinCash. I am constantly scouring the internet looking for more ways to spend Crypto instead of government-funded cash.
My meetups started out with 2 people 1 of which was my dad to 12 strong and growing (which does not include my dad). That may not seem like many but those 12 people have become strong and confident users of Cryptocurrency and one of them even accepts BitcoinCash for his business.
My story does not end here, and with every day there is a change with some great, some good and some not so good stories. Keep your eyes out for updates to my never ending and exciting Crypto life.
Source : https://www.reddit.com/r/btc/comments/au...why_i/Kind Regards R]]> The answer to this first question is not as easy to answer as you would think. Right before the split between Bitcoin and BitcoinCash I met someone very involved in the community we were discussing how I became a libertarian which naturally lead us to a discussion about economic freedom, Ross Ulbricht and then Bitcoin. The following day I ran home and researched Silk Road and Ross Ulbricht. Five minutes later, I had signed the petition. My interest was piqued, I started to do my own research in regards to Bitcoin. I bought several books but all that did was confuse me more. I started watching YouTube videos and remember thinking to myself “who are these people” and “are they even speaking English” but I kept researching determined to learn about economic freedom, I just couldn’t grasp how someone could gain economic freedom with online money.
Fast forward to the Bitcoin/BitcoinCash fork, I knew this was a big deal but I didn’t know what was going to happen. So I called my friend and set up another time to meet, well this time I was prepared I had my notes laid out from the books I had read and I was pretty proud of myself after all Bitcoin is not easy to understand with words like nodes, Raspberry Pi's (what does pie have to do with economic freedom), miners, QR's, checkpoints, lightning (still waiting) and why only 21 million and do I have to buy a full coin? I mean this list goes on (after all I am much older than the usual crypto enthusiast) little did I know I had already entered the rabbit hole and from the look I received from my friend he knew it. So after 2 days that was it, I needed to get my hands on Bitcoin.
As soon as I got home I joined Coinbase and I saw a few coins listed and thought Bitcoin is really expensive and I can get 4 times the amount with this coin called Litecoin so I put in a buy order for that, Etherum and BitcoinCash. I had never been a huge fan of Social Media but at this time I decided I needed to join Twitter to see what others were experiencing and oh God what a jolt to the senses that was. Everyone tweeting why this and that coin is bad and this person is bad and that person is good, Crypto Twitter can be a shit show especially in the beginning and being new to both Twitter and Crypto my brain was in overload. I followed my friend on Twitter and just started to pay attention to him and basically began stalking his feed and Youtube channel but I never really engaged (I truly felt like a stalker). But I was learning my way around and who did what in their relative fields.
As everyone knows Coinbase can be very frustrating because it seems like forever before you have access to your coins and the whole time I’m thinking what have I done? So a month went by and I finally received an email saying my funds are now available in Coinbase I opened up that app and to my surprise, my money had just quadrupled. I had learned while investing once you make back your initial investment sell that portion and that is exactly what I did! But the damage had been done I was hooked and immediately took that initial investment and bought every altcoin I could get my hands on via Binance, which can seriously do some damage to your wallet.
I still really did not know what to do with Cryptocurrency, there were all these wallets, but why were they needed if all it did was sit there like digital gold. So I started to engage with people on Twitter to discover what others were doing, I didn’t have any followers so outside of a few likes here and there I would never really get any feedback. I asked my friend about this and he started to respond to me and soon after that, others started to respond to me, then I was included in threads and I had my first Crypto Twitter follower, he was no joke and little did I know at that time how much of an influence this person would have in my Twitter and Crypto life. But Crypto Twitter will have to be its own story.
As I started to learn how to navigate my way through Crypto Twitter and began to understand the correct questions to ask I began to get the answers I needed. These questions amounted to where/who accepts crypto and why is this coin better than that coin? The people that came forward were the BitcoinCash community, I couldn’t understand why was it only the BitcoinCash people that would respond to me, after all, there are so many coins out there? But these were the people that had a passion for what they were doing and believed in that passion, from the CEO to the developers down to the end user. It was like a breath of fresh air to find people passionate about rewarding hard work and not caring about who you are and which country you are from along with giving back to communities that are far less fortunate by no fault of their own they just don’t have access to resources that are available to Western Nations, Europe, and Asia. I discovered the philanthropic work was incredible and still to this day I still am overwhelmed by how much the BitcoinCash community does and feel very fortunate to be a part of it.
Downloading wallet after wallet, I discovered some were easy some were difficult and well some were just ridiculous. I started to tag random developers on Twitter and honestly was surprised when they responded to me and offered their help after all these are really busy people why would they take the time to help one person. The reason is simple they want Cryptocurrency to be a success and they understand how difficult it is, especially for an older person who just got her first smartphone 2 years earlier. After learning about the importance of 12-word seed phrases how a QR code works and legacy addresses I now felt comfortable enough to begin introducing people to cryptocurrency and more importantly BitcoinCash. Little did I know how difficult this would be, I mean who doesn’t want money even if it’s free.
After months of interaction on Twitter and other platforms, I decided I needed to do something besides just talking about Crypto I needed to shout it from the rooftops. I desperately wanted to find others around me that I could share my experiences with so I created a Meetup in my area and began talking about it at work with my friends and family I just started telling everyone I ran into have you heard about BitcoinCash? “No” here let me show you” inevitably I started to hear oh that’s for drug dealers or it’s a scam. So now I thought how do I get past this obstacle that CNN and Fox News has put in front of me? I became more determined than ever to beat them at their own game. I had another hurdle to jump, so my path now came to what is an everyday product I can buy with Bitcoincash? Well, there are tons you just have to find them, and since my area of the country is about 10 years behind the rest of the country this was very difficult. But one thing I do a lot is travel and I was about to buy a plane ticket so I found CheapAir.com which accepts BitcoinCash, so I used that and discovered how easy it is, I can literally lay in bed find a flight and/or a hotel and right there without turning on the lights or getting up for my credit card number. What about overcoming only drug dealers use it (which my stepmom throws in my face almost every day) so for Christmas I purchased her some beauty products with BitcoinCash. I am constantly scouring the internet looking for more ways to spend Crypto instead of government-funded cash.
My meetups started out with 2 people 1 of which was my dad to 12 strong and growing (which does not include my dad). That may not seem like many but those 12 people have become strong and confident users of Cryptocurrency and one of them even accepts BitcoinCash for his business.
My story does not end here, and with every day there is a change with some great, some good and some not so good stories. Keep your eyes out for updates to my never ending and exciting Crypto life.
Source : https://www.reddit.com/r/btc/comments/au...why_i/Kind Regards R]]>