9 Nines Posted September 13, 2022 Report Share Posted September 13, 2022 Denver is imploding OILERMAN 1 Link to post Share on other sites More sharing options...
BobbyCoins Posted September 13, 2022 Report Share Posted September 13, 2022 2 hours ago, Titans_Win_Again said: "Cheap" blockchains haven't solved anything they've simply prioritized scalability. Which is completely short sighted, if you're building the new global financial system you prioritize security and decentralization. Layer 2 blockchains built on ETH (Arbitrum, Optimism, etc) offer txs just as cheap as SOL and ATOM while maintaining composability of assets with the ETH main chain. ETH has an insurmountable lead over other smart contract L1s in terms of development and onchain assets/liquidity. Is Ethereum not sacrificing security for scalability by moving from POW to POS? All they really seem to be doing is ensuring that they never surpass Bitcoin as Bitcoin already had security and decentralization cornered. The lightning network built on top of Bitcoin's network will give Bitcoin the scalability it needs. As for these other chains? I think the idea that Ethereum has an "insurmountable" lead over them is absurd. Unlike with Bitcoin's advantage over Ethereum, the primary thing Ethereum has over these other chains is they were there first. There is nothing written in the stars that says Ethereum has to maintain its lead. Of course you could say the same thing about Bitcoin, but Bitcoin's fundamentals are strong enough to give it more than just a puncher's chance of staying #1. Link to post Share on other sites More sharing options...
Titans_Win_Again Posted September 13, 2022 Report Share Posted September 13, 2022 (edited) 3 hours ago, NashvilleNinja said: Is Ethereum not sacrificing security for scalability by moving from POW to POS? All they really seem to be doing is ensuring that they never surpass Bitcoin as Bitcoin already had security and decentralization cornered. The lightning network built on top of Bitcoin's network will give Bitcoin the scalability it needs. As for these other chains? I think the idea that Ethereum has an "insurmountable" lead over them is absurd. Unlike with Bitcoin's advantage over Ethereum, the primary thing Ethereum has over these other chains is they were there first. There is nothing written in the stars that says Ethereum has to maintain its lead. Of course you could say the same thing about Bitcoin, but Bitcoin's fundamentals are strong enough to give it more than just a puncher's chance of staying #1. Well BTC isn't a smart contract platform so they don't even compete in most regards. BTC is purely attempting to be store of value. The lightning network has existed for like 4 or 5 years and it still sucks. Nobody wants to set up payment channels, the usage numbers are pathetic. BTC has a massive lead over cryptos that attempt only to be a hard asset because of proven track record network stability and the reflexivity of liquidity. The exact same is true of ETH vs other smart contract L1s. As for PoS being less secure than PoW, there is no evidence of this. There are plenty of reasonable arguments that PoS is less vulnerable to attack. Other PoS chains have been up and running for years. Also the Merge has nothing to do with increased scalability it's entirely about switching the consensus mechanism. Edited September 13, 2022 by Titans_Win_Again Link to post Share on other sites More sharing options...
Titans_Win_Again Posted September 15, 2022 Report Share Posted September 15, 2022 ETH has "merged" successfully. It now uses 99% less electricity and rate of supply growth has slowed at minimum 90% (basically 3 bitcoin "halving's" in one). Link to post Share on other sites More sharing options...
BobbyCoins Posted September 16, 2022 Report Share Posted September 16, 2022 19 hours ago, Titans_Win_Again said: ETH has "merged" successfully. It now uses 99% less electricity and rate of supply growth has slowed at minimum 90% (basically 3 bitcoin "halving's" in one). Titans_Win_Again 1 Link to post Share on other sites More sharing options...
OzTitan Posted September 17, 2022 Report Share Posted September 17, 2022 Supdawg, and titanruss 2 Link to post Share on other sites More sharing options...
BobbyCoins Posted September 18, 2022 Report Share Posted September 18, 2022 (edited) Crypto was a fad and fake internet monopoly money. Then it was an illicit tool for criminal enterprising. Now it's perfectly acceptable for government totalitarian control "for our own good." We would all be better off going back exclusively to paper money before adopting the government's CommieCoin. If you are OK with a US CBDC then you are an absolute monument to stupidity. Edited September 18, 2022 by NashvilleNinja titanruss, and Jamalisms 1 1 Link to post Share on other sites More sharing options...
OILERMAN Posted September 18, 2022 Report Share Posted September 18, 2022 One of the arguments against BTC was the government would eventually enable their own system. I'd guess if the central bank does this all the crypto like BTC would be useless? titanruss 1 Link to post Share on other sites More sharing options...
Supdawg Posted September 18, 2022 Report Share Posted September 18, 2022 1 minute ago, OILERMAN said: One of the arguments against BTC was the government would eventually enable their own system. I'd guess if the central bank does this all the crypto like BTC would be useless? LOL, not even remotely close. BTC is permissionless, decentralized, predictable monetary policy, and cannot be created out of thin air. BTC is the separation of money and state. CBDC's are literally the EXACT opposite of BTC. titanruss 1 Link to post Share on other sites More sharing options...
BobbyCoins Posted September 18, 2022 Report Share Posted September 18, 2022 (edited) @Jamalisms Yeah, I know you like that gubmint cock. Just stay bent over and spreading. Edited September 18, 2022 by NashvilleNinja Link to post Share on other sites More sharing options...
BobbyCoins Posted September 18, 2022 Report Share Posted September 18, 2022 7 hours ago, OILERMAN said: One of the arguments against BTC was the government would eventually enable their own system. I'd guess if the central bank does this all the crypto like BTC would be useless? That's an argument against the government, not BTC. It really boggles the fuck out of my mind that people are so ready and willing to let the government just roll over their freedoms. And I say "let" them because the government is supposedly so explicitly directed by our votes. Right? I mean, that's what everyone was so adamant about in the last election, right? How immutable and pure that process was. If people want to keep their freedoms just vote against CBDCs, both in the ballot box and with their pocketbook. The more people adopt BTC the harder it is for the government to roll over it. Hey, Jamal, be sure to laugh at this post too like the good lil cuck you are. Jamalisms 1 Link to post Share on other sites More sharing options...
OILERMAN Posted September 18, 2022 Report Share Posted September 18, 2022 4 minutes ago, NashvilleNinja said: It really boggles the fuck out of my mind that people are so ready and willing to let the government just roll over their freedoms. Are you calling for a revolution because BTC is the bad investment everyone with any sense knew it was? Link to post Share on other sites More sharing options...
BobbyCoins Posted September 18, 2022 Report Share Posted September 18, 2022 19 minutes ago, OILERMAN said: Are you calling for a revolution because BTC is the bad investment everyone with any sense knew it was? Link to post Share on other sites More sharing options...
OzTitan Posted September 19, 2022 Report Share Posted September 19, 2022 Cryptobros are starting to sound really frustrated lately, I think it is only going to get more frustrating. BTC was never going to get mass adoption if it hasn't already (what more can it offer?), and it was always obvious that some state sponsored alternatives would be the ones that actually do manage that eventually, if "crypto" currency ever does become mainstream. OILERMAN, Supdawg, and titanruss 1 2 Link to post Share on other sites More sharing options...
Titans_Win_Again Posted September 19, 2022 Report Share Posted September 19, 2022 5 hours ago, OzTitan said: Cryptobros are starting to sound really frustrated lately, I think it is only going to get more frustrating. BTC was never going to get mass adoption if it hasn't already (what more can it offer?), and it was always obvious that some state sponsored alternatives would be the ones that actually do manage that eventually, if "crypto" currency ever does become mainstream. The fact you think a government can offer something equivalent to Bitcoin shows you completely missed the point. Bitcoin is flawed, maybe fatally in the long run, but it has achieved the most critical aspect for any crypto attempting to be purely a store of value/hard asset/money which is decentralization. Obviously any blockchain based asset issued by a government or corporation is not decentralized and they would have power to alter critical aspects such as the supply and access. It wouldn't be any different than the current money we have, which is almost entirely digital anyway, except that it would give total transparency of all transactions and it would make seizing or blacklisting assets trivially simple. You can see why China is so excited to rolls theirs out... Bitcoin on the otherhand, for better or worse, is extremely difficult to alter because there is nobody in charge. The rules that Bitcoin functions on are public and have hardly changed since its inception. The playing field is fair and threat of your funds being seized or blacklisted is non existent. A country can rollout a central bank digital currency but it wouldn't compete with Bitcoin in any way that current government monies don't already. Link to post Share on other sites More sharing options...
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