1/ The Crypto war is over, perhaps it is time to rethink our models.

#bitcoin has won the war for sound money v forks/protocols.

There are now two wars that remain:
- #bitcoin v central banking
- Crypto protocol v crypto protocol
2/ The war for money was won because of a fixed monetary policy, network effects and decentralisation.

#bitcoin forks failed to create a network effect and smart contract platforms failed on decentralisation.

This is good for everyone.
3/ Arguing #bitcoin v smart contract platform is like arguing tanks v boats.

The crypto war is over, everyone needs sound money and #bitcoin won this.

For #bitcoin v central banking, everyone has a vested interest in #bitcoin winning this war.
4/ Smart contract platforms may have technical or economic limitations but they are here to stay, certainly in the short-term.

@allenf32’s recent report highlights their limitations, technical, economic and resistance to state censorship.
5/ Fighting a war which has been won feels pointless, potentially a net negative.

People who need #bitcoin may avoid it due to this war. Allies against the central banks.
6/ The challenge for smart contract platforms is competition with other platforms.

Having failed to achieve state resistant decentralisation, there is likely more efficient designs which maintain a permissionless experience for the user.
7/ The only reasons I see left for a blockchain is the facade of decentralisation and the wallet infrastructure which allows for the transfer of assets.

Someone more technical may correct this.
8/ Solana is more centralised than Ethereum and likely more centralised protocols will come. Governance tokens are merely a tool for hedge funds to bootstrap projects and deliver huge returns.
9/ This is not an anti-smart contract platform thread, just a reality check.

Decentralisation has been achieved many times without tokens, the token is just the poker chip to incentivise investment.
10/ I still only hold #bitcoin and only cover #bitcoin. Occasionally I may cover alternative projects if it relates to #bitcoin like my interview with @lrettig comparing Ethereum and #bitcoin governance.
11/ Maximalism is alive, well and necessary for the protocol. Multinational companies, a nation state and millions of Bitcoiners worldwide rely on the protocol being protected from nefarious actors and centralisation.
12/ I’m tired of arguing against “crypto”, I’d rather spend my time educating crypto/non-#Bitcoin people regarding the benefits of sound money and why it should be something they hold.
13/ I understand many people think anything not #bitcoin is a scam.

I am entirely dedicated to #bitcoin.
14/ Apologies for any technical mistakes you think I may have made. This is just how I see things.

Happy to discuss.

Thanks for coming to my TedTalk.
PS I am going to try and work this into a blog post. Any feedback welcome, aware that some of this is subjective and some may just be incorrect.

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More from @PeterMcCormack

22 Sep
Massive thanks to all the ETH devs working on what is a #bitcoin test-net.

Everything you build which makes sense will end up on #bitcoin.

You can’t play real poker with matchsticks so your sacrifice is appreciated.
Etherians will be triggered while ignoring economic and technical facts, but if they understood the facts they could hedge their investment.

I don’t hate Ethereum, I actually think it’s, in parts, a very cool project but ultimately it is fucked.
There are zero scenarios where a country makes Ethereum a reserve currency and it has zero chance of becoming the native currency of the Internet. For both technical and economic reasons.

Bitcoin, largely over the Lightening Network is already light years ahead.
Read 5 tweets
23 Jun
*Breaking*

John McAfee found dead in his prison cell, this after Spanish courts agreed to extradite him.
Awaiting some kind of official confirmation but multiple sources are breaking this.
This source is claiming he took his own life.

elpais.com/economia/2021-…
Read 5 tweets
17 Jun
Will probably regret this Tweet, still, please continue to send the daily hate. Anyway:
- I donated #bitcoin to brink open source dev
- I donated #bitcoin to CoinCenter
- I donated #bitcoin to Julian Assange's fund
- I paid towards @peterktodd's OpenTimeStamps project
- I sponsor London BitDevs
- I paid for Tor Nodes
- I donate towards other podcasts
- I went to Venezuela to make a film about Bitcoin (including going into the slums)
- I have been coming to El Salvador for nearly two years (I think I was the first to visit Bitcoin Beach)
- I have travelled to around 40 countries to promote #Bitcoin
- I have released 360 podcasts (almost entirely dedicated to #bitcoin)
- I answer every email sent to me
- I try and answer most DMs (though hard)
- I attend and support #bitcoin conferences
- I only hold #bitcoin
Read 7 tweets
24 May
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.
Read 4 tweets
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
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

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