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Bitcoin is Under Attack, Not the Price!! | Simply SatoSHE · Simply Bitcoin

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  Something feels off. We hit an all time high of
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  126,000 and a few days ago we were sliding below 98 K.
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  No, no, no, the price action just, it doesn't make any sense.
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  We've got BlackRock, Sailor and other treasury companies buying
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  billions of dollars worth of Bitcoin.
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  The Trump administration saying America will be the leaders of
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  crypto. All the bullish news you could
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  want, yet the chart keeps bleeding red.
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  I started to think, why is Bitcoin dumping in a supposed
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  bull market? What if the answer to that isn't
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  anything macro at all? What if the problem isn't coming
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  from Wall Street, but from inside of Bitcoin itself?
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  What if the real risk isn't the price, but it's the software
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  itself? Because while most people are
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  staring at the charts, to me it feels a lot like something that
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  already happened in the past. Bull Run?
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  Remember 2017? Bitcoin at $20,000 and $150.00
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  per coin. That's what you got is up per
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  record, $3000 up. Yeah, up 19%, new record high.
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  So the previous record was 19,600 and change.
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  So this really blows it out of the water.
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  But don't forget that, you know, we have concentrated Bitcoin
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  trading. 95% of it is helmed by just two or three of these whale
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  traders. Back then the so-called fork
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  wars tested Bitcoin strength and when it held together it proved
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  this network could survive anything.
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  But some people are starting to wonder if another internal
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  battle is brewing, one that could define what Bitcoin really
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  is in the years ahead. Welcome back to simply Bitcoin's
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  Satoshi. I'm Sophie, and today we're
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  going to be talking about the price.
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  But instead of staring at charts and drawing speculative
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  conclusions, I'm going to break down the hidden reason.
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  I suspect Bitcoin's price has strangely stalled during a bull
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  run. And it's something that has been
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  highly requested in the comments so you don't want to miss it.
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  Let's be real, Bitcoin feels a little weird right now.
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  We all thought that by now Bitcoin would have reached 150K
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  and above. The halving behind us, bullish
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  news around ETFs and even governments talking about
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  reserves. By all logic this should be my
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  number go up era. I should be buying furniture
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  right now. Instead, the price is drifting
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  down, slowly, uneasily. It's not a panic, it's more like
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  fatigue. And due to the fatigue, the
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  community starting to turn on itself.
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  Not over memes or politics, but over the software that runs
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  Bitcoin. You.
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  Fucking crazy man. You sound insane.
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  Do you realize that you should be medicated?
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  Scroll through X or tune into one of the latest conferences
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  and you'll see the discourse. That debate in the Plan B forum.
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  That was spicy. What am I talking about?
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  Core versus knots. Ordinals versus purity.
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  Code is law versus Bitcoin is money.
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  It's getting heated. Devs are blocking each other.
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  Access denied. Plebs are picking sides and
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  suddenly everyone's talking about Core 30 like it's a
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  villain update because some have correlated the update to the
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  reason Bitcoin is crashing. In my opinion that's sort of a
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  stretch and there is no evidence of causation at all, but the
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  correlation could definitely be there.
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  So is that what's actually happening here?
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  I mean, markets move on emotion and at this moment bitcoiners
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  emotions aren't running on core or nots, they're just running
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  really high look. At that car.
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  When the builders disagree on what Bitcoin is, the uncertainty
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  potentially ripples out as price volatility.
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  Not because the code broke, but because OG whales conviction
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  could be. After all, last month over $33
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  billion were liquidated by long time Bitcoin holders.
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  Could they have timed the top on October 6th or did the update
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  have something to do with it? Or maybe they just like finally
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  wanted to be Fiat rich? I don't know that that's like
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  my, I don't know. That's what I would do.
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  I haven't weighed into this discussion very much.
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  So I, I, I, I, I will. Now I have been running knots.
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  I haven't, I won't upgrade to to to the new, new version.
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  I'm sorry. I have been running core.
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  I won't upgrade and I'm going to run knots.
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  And so I think they're on the right side of this, but it's
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  also I'm not against, I'm not as as vitriol against core and
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  everything else as as many people are.
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  I think I think it would be easy to make a whole bunch of
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  mistakes to to trust and 2030 eighty people to know everything
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  we're talking about about Bitcoin would be ludicrous.
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  In fact, a lot of the threat model to fit Bitcoin used to be
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  what if core was compromised? And if you, if you just ran,
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  what would naturally happen from a, from a centralized system
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  that was getting stronger and stronger through our actions,
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  you'd expect core to get compromised at some point.
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  And I've always said, well, it doesn't matter because you would
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  just split it off because it can't be stopped.
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  And So what, what Luke and Bitcoin Mechanic and others had
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  really just showed is they made Bitcoin stronger and more and
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  ossified more by providing choice.
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  Like when core came in with heavy-handed, here's the way
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  we're doing it. Another thing created, it was
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  created and the market spoke. And that's why I think we're
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  16.6% knots, knots today and grow and growing.
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  So it's telling, it's telling you something.
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  It's telling you that this can't be, no one can say this is, this
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  is what you have to do. The more you do that, this is
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  what you have to do, the more you're going to drive people to
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  make sure this is decentralized and secure because those risks
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  are too great. So what I would say is there's
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  too many people who care, there's too many people who care
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  about us who are not going to bury their head in the sand and
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  say I'm going to accept those risks.
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  All right, some of you are probably asking yourself what
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  the fuck is core and knots and why does this matter to anyone
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  outside of Bitcoin twitters? So let me try to explain this
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  the easiest way I can. Bitcoin Core is the main
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  software that powers about 80% of the entire Bitcoin network.
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  Think of it as an operating system for Bitcoin coin.
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  Open source, volunteer, maintained and trusted by almost
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  everyone. Version 30 is its newest
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  release. On paper it's a minor update,
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  but here's the major controversy that started this debate.
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  It continues allowing an update to the data size of the OP
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  return limit. Please see definition of what
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  that is up here. Meaning that the increase in
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  size could allow for storing images, texts, tokens, whatever
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  they want on your blockchain. Honestly, you don't need to
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  understand all the technicality, I definitely don't.
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  But in other words, it means that Bitcoin can now store more
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  than just money. It can also store random stuff,
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  jpegs, memes, even questionable files like files you may not
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  want to see ever in your life. Now just to be clear, this
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  doesn't break Bitcoin. Bitcoin still works perfectly.
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  Core developers say Bitcoin is neutral.
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  If you pay the fee, your data is valid.
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  However, some argue this loophole changes what some
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  people might use Bitcoin for. And critics argue Bitcoin was
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  meant for money, not to become a blockchain version of Google
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  Drive. That's the split.
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  It's not just technical, it's also deeply philosophical.
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  Initially, hold on, let me address this because it's
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  relevant. When WikiLeaks started
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  transacting on Bitcoin, it made Satoshi pretty uncomfortable and
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  he said famously we have, it would have been nice to have
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  gotten this attention in any other capacity.
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  We have kicked the hornet's nest and now the swarm is headed
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  towards us. It was scary, let's be honest.
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  Bitcoin is strong and it's anti fragile, but there is a degree
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  of discomfort that people that want to engage with the network
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  will tolerate before they walk away from it.
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  And so Toshi set a pretty strong precedent then that money needs
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  to be neutral to work. One Bitcoin needs to be 1
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  Bitcoin. And ultimately maintaining a
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  Ledger that reflects financial history, no matter how egregious
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  that financial history is. I don't care.
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  I've said this many times before, I don't care if you're
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  buying, you know, if you're buying a glass of milk or if
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  you're financing Al Qaeda or something, I don't care.
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  It's all money and it's all it's defensible having a neutral
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  monitoring network. But humans fundamentally do not
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  consider file storage the same thing.
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  So if someone gets caught, let's let's move away.
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  The the sea sound argument has been brought up.
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  I don't like talking about it because people, it's such an
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  emotionally charged topic that people think immediately I'm
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  trying to be manipulative. But there are files, there is
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  file storage protocols out there that people will not use to the
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  degree where they expect the world to view them as doing
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  something admirable. You're not going to run a file
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  storage server in your house and give people the ability to
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  anonymously upload any data to it for some ethical, you know,
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  great, great to design because people just don't work like
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  that. If someone's getting dragged off
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  to jail because they have illicit government, you know,
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  files, you know, malware, all that stuff.
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  Which by the way, the Bitcoin network is a gift to anyone that
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  wants to engage in that kind of stuff because it has anonymous
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  upload and it has enthusiastic peers that will relay this to
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  anyone on request. That stuff is just not something
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  that most people I know are prepared to say, yeah, I'm
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  willing to do that, to have Bitcoin be what it needs to be.
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  I'm willing to run a a neutral file server in my house.
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  And that is why I think, yeah, OK, Bitcoin, Oh my God, it
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  didn't die the day they released Core 30.
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  And if you want to make straw man positions like that, fine,
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  but you just make yourself look like a clown.
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  No one is saying it's going to die today, but I'm saying you're
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  putting pressure on nodes to become arbitrary file storage
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  systems, and most people don't really want the headache that
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  comes with that because it has nothing to do with money.
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  Look, we had this discussion. Congratulations, your IQ will go
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  up two points after watching this video.
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  And to the average person, this might not seem like a big deal.
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  It might seem like we're all nerding out nerd a lot.
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  But the reality is the implications are significant
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  when you consider Bitcoin in the long term, which most Bitcoiners
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  do, Every update encodes A worldview.
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  Core 30 didn't just patch a bug, it reaffirmed a principle that
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  neutrality matters more than purity.
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  The question is whether that principle scales or dilutes
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  bitcoins purpose. There's the whole debate about
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  is it spam and can we stop spam? Should we stop spam?
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  There's a debate upon is Bitcoin money or is it arbitrary data?
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  And do we want Bitcoin to be just a cryptographic BLOB, a
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  cryptographic accumulator and Adam backs words and or do we
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  want to say it's money? And then there's the whole facet
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  of just core versus knots developers being against knots
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  and not against core. And that goes into another
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  rabbit hole of what is a bug even because if you go back in
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  time to the where it kind of kicked off, it is really the
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  ordinals inscription spam, right?
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  And that was when Luke logged a bug CV20235-O428 basically
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  saying that these new protocols are bypassing data carrier size.
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  And a lot of core developers just said, Nope, not a bug, it's
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  a feature. So they kind of changed
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  documentation to fix the bug. And I think that is kind of
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  where in my mind the schism happened and the fallout now
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  over knots versus core and opera turn is down.