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Peter McObnoxious Profile picture
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24 May, 4 tweets, 2 min read
OFAC blocks and energy FUD driven by rich bitcoiners feels like Segwit2x all over again.

Closed-door meetings and new holders working against the best interest of #bitcoin to drive their own agenda is dangerous.

Eat shit @elonmusk
Everyone up in my comments crying because we should be nice to Elon needs to do their history homework.
If you have your money in #bitcoin you need to care about this. If you are a short-term trader desperate to make money, I am sorry but this isn't about you.
Do your homework.
blog.bitmex.com/the-blocksize-…

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More from @PeterMcCormack

Peter McObnoxious Profile picture
23 May
1/ If you are angry with the #bitcoin and/or "crypto" dump, stop looking for someone to blame.

If you traded a highly volatile market with leverage and were stopped out, that is your fault.

If you overextended yourself and are underwater, that is your fault.
2/ The #bitcoin people I know always recommend the same:
- Don't invest what you can't afford to lose
- Have a multi-year timeframe
- Trading is hard and risky
- Consider DCA
- Leverage is dangerous
- Shitcoins are also risky

Buy spot and hold securely is the best advice.
3/ #bitcoin is an attempt to destroy the power of the cancer of central banks. It is attacked constantly:
- Weak journalists
- Regulatory actions
- Disinformation from morons
- Bitterness from those who didn't buy

The market reacts constantly.
Read 7 tweets
Peter McObnoxious Profile picture
16 May
1/ Dear @elonmusk. The perfect troll is one where people don't know whether it is a troll or not. Your recent poorly informed criticism of #bicoin + support for Doge may be the perfect troll...or you might actually believe this (God I hope not).
2/ Whether you believe it or not is irrelevant right now, the implications are in play, and there are two specific ones I want to discuss:
a) Doge investors will get rekt
b) You are increasing the workload of Bitcoiners

I am not the smartest bitcoiner but I will do my best.
3/ Doge is a meme, a joke, it has no real developers and long-term serves little purpose beyond coin-flipping.

The blocksize debate is over. Bitcoin is the only meaningfully decentralised cryptocurrency serving to solve problems caused by central banking.
Read 25 tweets
Peter McObnoxious Profile picture
27 Jan
1/ Dear @LionelRALaurent, I have just read your article for Bloomberg "Bitcoin Is an Incredibly Dirty Business".

I have some things to discuss with you as I assume accuracy as a journalist is important to you.

bloomberg.com/opinion/articl…
2/ Let's start with your subtitle "This is virtual money with a real carbon footprint."

#bitcoin isn't virtual money, money in computer games is virtual. #bitcoin is as much money as dollar bills, gold or cigarettes in prison.
3/ This pejorative use of "virtual money" implies it has less meaning that other forms of money. This is obviously false to those people who save or transact in #bitcoin.
Read 9 tweets
Peter McObnoxious Profile picture
27 Jan
1/ Dear @alexhern,

I have just listened to your podcast for the @guardian regarding #bitcoin. You open by saying you first wrote about #bitcoin seven years ago yet you keep recycling false narratives.

cc @rachel_hump

theguardian.com/australia-news…
2/ Would you like to do a follow up where someone who understands #bitcoin can respond to your criticism?

I assume as a responsible journalist your goal is to ensure you keep to the code of practice of ethical journalism, including "Accuracy and standards for factual reporting"
3/ I operate a popular #bitcoin podcast and would be able to assemble the right candidates to help you with this.

The result would be that you could release a new podcast for your listeners which is balanced and fair.
Read 17 tweets
Peter McObnoxious Profile picture
27 Jan
1/ Dear @bankofengland, FAO Andrew Baily.

I've just read Andrew's interview regarding #Bitcoin for @thisismoney, where he says digital currencies will fail as businesses, consumers and regulators look for digital currencies which are "stable, safe and well-designed."
2/ I think Andrew does not understand why #bitcoin is so successful.

Firstly #bitcoin is stable, safe and well designed.

The best part is the design of its monetary policy, a design which is a response to the policies of central banks such as the @bankofengland.
3/ Let's look at your Twitter profile as a reference point, where you state you work to ensure:
- Low inflation
- A stable financial system

The reason people like I hold #bitcoin is that low inflation is not enough, with #bitcoin we are targeting no inflation.
Read 10 tweets
Peter McObnoxious Profile picture
24 Dec 20
1/ Feels like a good time to tell the story of how I went from broke to a millionaire to broke again in 2017/18 again...

Yesterday was brutal for some people...

Losing life-changing money sucks, losing any money sucks...you can chase the market or you can change your strategy.
2/ The original thread is gone but you can read it here.

buzzchronicles.com/b/life/1042/

tl;dr
- Traded $32k to $1.2m
- Thought I was a genius
- Made poor investments
- Didn't conserve capital
- Peaked at 150 BTC
- Lost nearly all of it

2 weeks from losing my house + no income. Oops.
3/ I am going to assume you are in it for the money rather than the tech. Yeah, you might Tweet about the amazing blockchaining of cross-border payments and oracles yadda yadda...really, you are in it to make money.

If you are really in it for the tech, go and build something.
Read 25 tweets

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