submitted by /u/crashwave [link] [comments] |
source https://www.reddit.com/r/btc/comments/cxsr1f/the_worlds_most_secure_and_convenient_crypto/
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P1) The Bitcoin Blockchain is a ledger. Its analogue is the ledger kept by a central bank.
P2) Central banks do not process your individual micro payments.
P3) Central banks are the ledgers in the fiat word.
P4) The fiat world has no problem with scalability and micro payments.
.: Therefore the possible inability of the blockchain to scale for individual micro payments does not lead to the conclusion that bitcoin cannot scale.
Bitcoin can scale ‘off chain’, aka off the central ledger. Nothing new here, we are just nascent. I’d love to hear counter arguments, though. Either to disprove a premise or show that the conclusion does not logically follow.
What I foresee for the future is that bitcoin will rise in value as fiat falls. This will drive adoption as a store of value. Bitcoin will become even more prevalent. As fiat truly begins to collapse, companies will wish to receive BTC as payment. Companies will develop very simple solutions to this. PayPal or visa could comfortably process BTC transactions and settle over the blockchain to retailers periodically through much larger transactions.
Lightning network or something similar is preferable, but not actually essential in my opinion.
What’s critical is that without those third parties there will always be an alternative. You can choose to use a trusted third party for transactional ease, but do not need to.
TL;DR to argue that bitcoin cannot scale because there would be too many transactions for the blockchain is analogous to arguing that fiat cannot work because a central banks ledger cannot process every single micro payment.
Genuinely would love feedback, even (and inevitably) negative.
US State of Nevada Financial Institutions Division has recently issued a statement concerning the need for the protection of the general interest in view of the increasing adoption of blockchain technology and cryptocurrencies. The regulator's statement implies that even Bitcoin ATM operators are required to get their licenses before they can legally operate. According to the NFID, "Any entity that facilitates the transmission of or holds fiat or digital currency by way of brick-and-mortar, [link] [comments] |
Bitcoin introduces incentives that encourage people to save, be frugal, and take personal responsibility over their finances.
Our planet is suffocating under the weight of human civilization. We have to make our economy more eco-friendly.
Bitcoin offers people an alternative path. This is what our government, businesses, bosses, friends, and family all need to understand, otherwise the next 100 years will not be pretty.
I was wondering who here is running the s17s by bitmain and how reliable have they been.. the old s7s were so much more reliable compared to the s9s which ive replaced hashing boards probably 2-3x a year due to chip failure and of course many fans..are the s17s reliable?
Please responses from miners who actually own and run s17s only
https://cointelegraph.com/news/is-bitcoin-protected-as-speech-under-the-1st-amendment-experts-answer
What do you guys think about this?
Do you guys think that bitcoin cash would have been more popular if they abandoned the bitcoin brand and started calling it ‘Bitcash’
Or is it just a black hole now?
In general, does anyone know what's going on with the Chinese backers of BCH? Ever since the bear market Bitmain and Jihan have been very cards close to the chest.
If you don't want to read, just go here and star this repo: https://github.com/lastmjs/enable-cryptocurrency-in-funding-yml
Hey everyone,
GitHub Sponsors just recently released, allowing GitHub repositories to show the official means of donating to them. They do this through a special file called `FUNDING.yml`. It supports official fields such as `patreon`, `open_collective`, and `tidelift`.
I think it would be amazing if they added as officially supported fields `bitcoin` and `ethereum` (if you hate Ethereum, just be excited about Bitcoin :)
Please star this repo and suggest improvements to the proposal. I have reason to believe that if enough of us ask for this feature, GitHub will implement it: https://github.com/lastmjs/enable-cryptocurrency-in-funding-yml
Is there a way I can forcefully HODL using the blockchain? I'd like to lock away some BTC for maybe 10 years and not be able to touch it.
Don't think I have any significant amount of funds in this wallet, but am curious just what kind of a back up I am looking at. Ideas?
This is either an example of the law of averages at play or a lot of new hash power is joining the network.
Never had so many questions in my life. Thank you Saifedean!
Developer here -- I was looking at creating BCH smart contracts and found both Spedn and Cashscript. Which one is better and more widely used, or worth learning more in general?
This is good for crypto CURRENCIES
Afaik there are no wallets that implement such a feature. I think this could be extremely useful in coordinating between payer and payee. End to end encrypted communications inside BCH wallets, anyone?
These idiots like Samson Mow and u/nullc are clearly being paid to help kill Bitcoin (BTC) and crypto in general.
I just don't get why anyone is falling for this new stupid narrative that BTC was meant as anything other than low fee, high speed, digital cash.
How or where did "Satoshi" store his coins? Was it HD wallet or exchange site? I haven't seen it mentioned .. just curious
Draw Trend Lines on a chart and proceed to make predictions ✅
Steal top posts from related reddit communities ✅
Convince people you know what you’re doing... sell a course / chart indicators maybe ✅
Never show trades made ✅
Monetise videos = profits ✅
Rinse and repeat every other day ✅
Oh and mention that none of this is financial advice ✅
Am i right or wrong guys?🤔
Then today I'd guess we're in a similar position as we were in October 2016. Roughly $500-600 range back then, or half of the ATH and right on the SF model value.
Today the same price behavior is playing out but the SF model has btc at approximately $8700, thus we may be a bit over extended even still.
You may hate this model but I for one am a believer in it. At least in so much as it being a solid indicator of where the bottom is.
Would love to see a sharp move down to that $8700 level and as sharp a bounce back up. Long wick would be hugely positive in signaling the next wave up.
Anything under 10k is a gift so relax and btfd.
So the news is that ethereum network is congested and fees are rocketing esp due to tether activity.
Its a good time to Pitch bch slp token here.
Thoughts?