Supdawg Posted July 18, 2022 Report Share Posted July 18, 2022 1 minute ago, OzTitan said: If you seriously believe this ridiculously inefficient system will ever be a mass currency replacement then I don't know what to say. Layer 1 Bitcoin doesn't have to be. The lightning network can perform 1,000,000 TPS. Link to post Share on other sites More sharing options...
OzTitan Posted July 18, 2022 Report Share Posted July 18, 2022 1 minute ago, Supdawg said: Layer 1 Bitcoin doesn't have to be. The lightning network can perform 1,000,000 TPS. And I'm sure in 10, 25, 50, 100 years, there will be much better future systems that can point back to Bitcoin as an ancestor. But it's overwhelmingly likely that these, if they make any serious progress on their importance and utility for humans, will do so looking less and less like Bitcoin, probably in the ways that sheds what many proponents claim are its best qualities, like being uncontrolled by any one force. US Gov, Tyrell Corporation, it doesn't really matter who. It isn't just about the raw throughput it can handle, the whole premise of it being some long term paradigm shift in finance is just fanciful, because that's not how the world works or will ever work. What the proponents overlook is, they are in the vast minority and stuff like this isn't going to happen like that. Majority support is not planned for or roadmapped, it is just assumed. This idea that the status quo has to collapse and fail spectacularly is typical of cults and their claim to future relevancy, this is just the 21st century digital finance version of that way of thinking. If it ever hopes to be anything different, it will have to meet in the middle (I say that as an expression - it is probably not anywhere near the actual middle as defined by current philosophical differences). In this case, it may not end up being recognizable to current day crypto evangelists. I personally think bottle caps have a better chance. Link to post Share on other sites More sharing options...
pat Posted July 18, 2022 Report Share Posted July 18, 2022 1 hour ago, Supdawg said: Do you genuinely believe that the fiat / central banking / debt system is sustainable? Do you believe that the massive sovereign debt will just disappear? Bitcoin was literally created for the inevitable demise in this system and we are far closer to that demise than ever. Bitcoin is pure, hard money. Native bearer asset with zero counter parties that is non-sovereign. If you can't understand why it has value, I don't what to say. yes, I believe the 500 year old banking system is sustainable. IsntLifeFunny, and OILERMAN 2 Link to post Share on other sites More sharing options...
OILERMAN Posted July 18, 2022 Report Share Posted July 18, 2022 Supdawg knows, he's just too far in pat 1 Link to post Share on other sites More sharing options...
Jamalisms Posted July 18, 2022 Report Share Posted July 18, 2022 4 hours ago, pat said: yes, I believe the 500 year old banking system is sustainable. Link to post Share on other sites More sharing options...
BobbyCoins Posted July 18, 2022 Report Share Posted July 18, 2022 7 hours ago, OzTitan said: 750 million transactions, limited to their own ecosystem. An ecosystem that is no closer to being more important to every day human life or human society than it was the day it started. The question is the necessity or even genuine practical merit of this ecosystem. Its ecosystem is the internet. Link to post Share on other sites More sharing options...
OzTitan Posted July 18, 2022 Report Share Posted July 18, 2022 3 hours ago, NashvilleNinja said: Its ecosystem is the internet. It lives on it but it has no meaningful contribution to it. It's just another application. Link to post Share on other sites More sharing options...
ManningEnvy Posted July 18, 2022 Report Share Posted July 18, 2022 (edited) 2 hours ago, OzTitan said: It lives on it but it has no meaningful contribution to it. It's just another application. But in the meantime, you’re still my broke ass butt bitch. It’s time for Beer and Bat Shit Crazy. Bend my hole over and come get some. Edited July 18, 2022 by ManningEnvy Link to post Share on other sites More sharing options...
ManningEnvy Posted July 19, 2022 Report Share Posted July 19, 2022 So I throw you a bone and you’re still not having any huh Touched The Tard? Some might say you’re smarter for it but you and I know the truth of the matter huh? Link to post Share on other sites More sharing options...
9 Nines Posted July 19, 2022 Report Share Posted July 19, 2022 1 hour ago, ManningEnvy said: But in the meantime, you’re still my broke ass butt bitch. It’s time for Beer and Bat Shit Crazy. Bend my hole over and come get some. Link to post Share on other sites More sharing options...
ManningEnvy Posted July 19, 2022 Report Share Posted July 19, 2022 IsntLifeFunny 1 Link to post Share on other sites More sharing options...
Titans_Win_Again Posted July 21, 2022 Report Share Posted July 21, 2022 On 7/16/2022 at 8:11 PM, OILERMAN said: Dr. Nicholas Weaver: A Computer Scientist's Perspective on Cryptocurrencies and Blockchain | RR: UC7 Dr. Nicholas Weaver’s well-known lectures on cryptocurrencies explain why he believes it needs to be “burned with fire.” Today, we speak to Dr. Weaver, an expert in computer science and a long-time observer of the cryptocurrency space. He holds a BA in Astrophysics and Computer Science and a Ph.D. in Computer Science from UC Berkeley, where he was also a lecturer until recently. His primary research focus has been network security, among other topics. His interest and search for comedy “godl” have also resulted in published papers on cryptocurrency. In our conversation, Dr. Weaver untangles the complexities of the perceptions of cryptocurrencies with the actual technology. We talk about decentralization, if cryptocurrencies are achieving it, and the underlying concept of blockchain technology, as well as whether or not blockchains are secure and what the potential benefits of cryptocurrencies are to developing countries. We then go into detail about why Dr. Weaver thinks the crypto space is not beneficial, why prestigious academic institutions are teaching about it, and why he thinks it will never work in the log-run. Please tune in for a truly eye-opening, no-holds-barred episode as we learn the harsh truth about cryptocurrencies with expert, Dr. Nicholas Weaver! Listening to some of this interview. The guy gets some stuff right but a lot wrong, comes off as someone who spent a lot of time reading about crypto but never actually used it. His understanding is superficial. He's right that it's effectively a giant casino in it current form (which is a great business to invest in so long as humans continue to be greedy). He's very wrong about the sustainability of the system. Specifically his misunderstanding of how mining "attacks" work, and how the use of crypto collateralized loans are unsafe. titanruss 1 Link to post Share on other sites More sharing options...
titanruss Posted July 21, 2022 Report Share Posted July 21, 2022 11 hours ago, Titans_Win_Again said: Listening to some of this interview. The guy gets some stuff right but a lot wrong, comes off as someone who spent a lot of time reading about crypto but never actually used it. His understanding is superficial. He's right that it's effectively a giant casino in it current form (which is a great business to invest in so long as humans continue to be greedy). He's very wrong about the sustainability of the system. Specifically his misunderstanding of how mining "attacks" work, and how the use of crypto collateralized loans are unsafe. It reads like somone had an opinion then studied in order to reinforce that opinion rather than approaching with an open mind. Titans_Win_Again 1 Link to post Share on other sites More sharing options...
BobbyCoins Posted July 21, 2022 Report Share Posted July 21, 2022 On 7/18/2022 at 4:57 PM, OzTitan said: It lives on it but it has no meaningful contribution to it. It's just another application. Link to post Share on other sites More sharing options...
Supdawg Posted July 21, 2022 Report Share Posted July 21, 2022 On 7/18/2022 at 4:57 PM, OzTitan said: It lives on it but it has no meaningful contribution to it. It's just another application. This is literally one of the most ignorant statements made about Bitcoin and I've heard a lot of them. The fact you think it's just another application is proof you don't have a clue what it is. Link to post Share on other sites More sharing options...
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