etr-strike · HackerTrans

etr-strike

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9 lat temudiscuss

All coins built upon PoW suffer the same scaling issues as bitcoin. Since Bitcoin is the most popular, it hit the limitations first. Second layer technologies such as Lightning Network and Rootstock do solve various problematic use cases. Bitcoin is the most widely held cryptocurrency and is the only cryptocurrency with second layer technologies being rolled out into production as we speak.

9 lat temudiscuss

As they should -- Lightning Network is the correct technological solution for small frequent payments such as game purchases on Steam.

9 lat temudiscuss

Lightning Network exceeds the throughput of VISA. The scaling problem is being addressed -- just not in the naive "let's throw away decentralization and increase the blocksize" way.

9 lat temudiscuss

> Bitcoin effectively froze when Blockstream decided against increasing block size.

You mean when the Bitcoin Core implementation of the Bitcoin protocol decided decentralization was an important feature of the currency and transaction compression should be the prioritized means of scaling.

9 lat temudiscuss

Could you be any more of a shill? RBF is optional. Furthermore, disabling RBF doesn't enable 0-conf transactions -- transactions can still be dropped from the mempool.

Anyways, say hi to the BCash CEO for me.

9 lat temudiscuss

That’s a cute theory, but housing costs are much more related to the cost of money. When the federal reserve makes money cheap, asset prices increase. Since mortgage rates are at historic lows, people simply borrow as much as possible until their monthly payment is at some threshold. If you want housing prices to return to historic norms, you need to ask the Fed to first return the cost of money to normal.

9 lat temudiscuss

The Federal Reaerve actually thinks productivity is too low: http://www.reuters.com/article/usa-fed-productivity-idUSL1N1...

Would be a dream to work just 40 hours per week.

9 lat temudiscuss

And back to C we go.

9 lat temudiscuss

I can buy USDs with my bitcoin. Lots of them.

9 lat temudiscuss

Yes? Confirmations in bitcoin were never instant...

9 lat temudiscuss

No, I think blockchains provide many useful functions. However, providing a token with value is a necessary feature. I’m very excited about things like Rootstock which add smart contract functionality to the bitcoin blockchain.

9 lat temudiscuss

A blockchain is a decentralized trustless ledger. If the operators are trusted, you can just use a database. It’s much more efficient. It’s pretty clear from the comment that you don’t understand Bitcoin or why, when people say “we like blockchain but not bitcoin”, that they’re talking nonsense.

9 lat temudiscuss

You can’t have a blockchain without a Bitcoin. The two are inseparable. Every blockchain needs a token reward which has monetary value to secure it.

9 lat temudiscuss

Sure, if you don’t consider a decentralized and trustless currency a use. If you don’t consider a store of value a use. If you don’t consider a public ledger of transactions a use. If you don’t consider programmable money a use. If you don’t consider permissionless payments a use. If you don’t consider a financial system wich never close a use. If you don’t consider instant payments a use. Then sure, no use has been found.

9 lat temudiscuss

They’ve been fighting deflation, not inflation. Asset prices need to correct and they refuse to let them. There’s a reason young people are buying so few homes.

9 lat temudiscuss

You’ve lost your mind if you really believe inflation has only been roughly 2% the last decade.

9 lat temudiscuss

Keep doing what you’re doing central banks! Your policies of persistent inflation have robbed us of our ability to save our wealth and accurately plan for the future. You’ve decided that devaluing our wages 2% per year is in our best interest meaning we must perpetually fight with our employers to keep our wages we fought for the previous year. Your policies of QE have driven asset prices so high we have no hope of ever owning them without becoming a debt slave. Congratulations.

9 lat temudiscuss

House prices needed to fall. Bad debt needed to be written off. Investors making risky loans needed to lose. None of these things happened, and look where we are. I vehemently disagree with everything you said in your post.

9 lat temudiscuss

Most of the coins people are purchasing today have been around less than a year and probably have less than 1% of the users of Bitcoin. They're pretty unproven.

9 lat temudiscuss

I see you took the long way around to agreeing with me at the end there. Have fun with your coordinator. Cheers!