It’s time for bored millionaires to go make their own alt-coin and leave our network alone

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Why are individuals who became extremely wealthy because they got into bitcoin early now trying to attack it with controversial hard forks, inexperienced development teams, radical changes to the network protocol and consensus rules, and propaganda?

Roger Ver, by all accounts, is a very wealthy man. We don't need to pin down an exact number. All we need to know is that he got into bitcoin early, at an incredibly low price point, and bitcoin has made him very rich. I don't resent that he is wealthy but I do resent that his wealth has made him so jaded that he thinks attacking our network is his privilege.

I think it is important to understand what it means to be really wealthy. Most people strive for wealth because financial independence gives them a certain amount of freedom in their lives and removes anxiety and stress. The truly wealthy no longer have to worry about how they are going to pay their bills or what would happen if they lose their job. In fact, if they have enough wealth, they don't need a job at all any more.

What kind of wealth does it take to have that kind of independence and freedom?

On the 'low' end, maybe a couple of million dollars. At the 'high' end, ten or twenty million. If you have ten or twenty million dollars, the investment returns on that alone would allow you to lead a lifestyle of the fabulously rich and famous for the rest of your life. Not only would you be able to live an extremely extravagant lifestyle, so would your descendants, and all of their descendants for generations to come.

At this point you become officially the 'idle' rich. You have so much money that you have nothing better to do than pursue your own personal dreams and goals.

By all accounts Roger Ver is already at least that rich.

He is so wealthy that he never has to work for another day in his life. If he lost 90% of his bitcoin, or other cryptocurrencies and investments, he would probably still be wealthier than most any of us could dream of.

So, why does this matter? Because most people involved in bitcoin are not that wealthy.

We are the people who did not buy bitcoin at pennies apiece. We didn't buy them for dollars apiece. We bought our bitcoin for hundreds of dollars each, if not at recent prices of over a thousand dollars apiece.

Many of us have made substantial personal investments in bitcoin. We have put our family's money at risk because we believe in the network as a long term store of value. The price of bitcoin matters to us. The security of the network matters to us.

Most of us can only dream of retiring for the rest of our lives, and bitcoin might never reach a point where that is even a possibility.

So, for these people who are fabulously wealthy to be actively attacking our network, the one protecting our money, with a cavalier attitude of 'who cares, if we get it wrong we can just reboot the system' is deeply offensive.

It is their attitude about our money, especially when they have absolutely nothing at personal risk any more due to their fabulous wealth, that has now become a problem.

Our network is protecting nearly 20 billion dollars of our value. If Roger no longer believes in our network, then that is absolutely just fine. Let him move on to ETH, Dash, or fork his own big-block coin which has only a handful of miners controlling all of the hash-power, massive blocks, new consensus mechanisms, and no non-mining nodes. However, he should not be attacking our network protecting our money!

I'm tired of bored millionaires, with nothing better to do, treating our network as a playtoy that they can fuck up with no concern whatsoever because, no matter what happens, they will still be rich.

These millionaires either need to get with the program, which is a strong development team executing a conservative but well thought out roadmap, or go move onto something else. But, please, stop attacking our network!


submitted by /u/jratcliff63367
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