Hey /r/btc,
You gotta few minutes?
I’ve been out of the crypto game for just over 3 years now. Why? I lost everything during the Big Block War and the subsequent Bitfinex hack back in ’16. Subsequently, I climbed out of that rabbit hole, battered and bruised, and well.. jumped right down another. Since then, I’ve been lost in the realm of the decentralized web, you know, IPFS, Swarm, Zeronet, BitTorrent, Dat, etc, etc, (but NO TOR, stayed the fuck away from the dark web shit) until late 2019.
So to start this new year and this new decade, I’m looking to see what’s NEW in crypto. For starters, I see Blockstream WON!! Which is kinda the basis of this post. Perhaps, it’s just time to call Bitcoin what it is, a “Legacy”, and move on. At least, that’s what I think would be the most honorable thing to do.
The promise of Bitcoin, at least to me, was a means of open commerce that couldn’t be censored by private corporations. NOT governments. I never had any interest in those “questionable” activities that would eventually draw attention (and a knock at the door). I just needed to avoid the ToS on the app stores of Amazon, Apple and Google. (a story for another time perhaps)
But from what I see today, I just can’t figure out how Bitcoin will EVER fulfill my wishes. Well.. at least not so long as Blockstream exists.
Sooo, I came up with what I think is pretty damn good plan to COMPLETELY DESTROY THEM.
ALL OF THEM!!
No, no, no, this is not THAT kinda post. Just wanted to make sure I had your attention.
All I’m saying is, let’s finally give Bitcoin its “proper" designation. Bitcoin Legacy will live forever!! Well.. at least for as long as the HODLers keep HODLing. Sooo.. you know.. FOREVER!!
(btw, does anyone else view HODLing as akin to collectible trading cards??)
Anyway, I’d like to put forth my TOP5 PICKS for which dirty, filthy alt-coins I think “may” have a shot at continuing MY dream of decentralized commerce:
- Liquid (is this considered an alt-coin? or we all stickin’ with “Layer 2” for now?)
- Bitcoin Cash (the one you know and love)
- Tether (you've met Bitfinex, haven't you?)
- USDC (does this coin/token have a cool nickname?)
- and Dai (the only decentralized stablecoin, as far as I know)
Liquid
I really don’t know anything about them. I just found out that Liquid is NOT the Lightning Network? ummm? okay? In regards to the LN, regardless of the eloquent speech I recently watched (https://www.youtube.com/watch?v=c4TjfaLgzj4) from Andreas defending the tech, I just ain’t buying it. Don’t know exactly why, but it all feels very wrong to me. All of his points, all of his arguments made perfect sense to me. However, AFTER watching, I still couldn’t help but think to myself, “yeeeaahhhhhbbbuutttttnnnooooooo…”
Maybe this Liquid IS better than LN? I dunno. Certainly not expecting any cheers from the /r/btc crowd, but one or two “reasonably" unbiased opinions would be absolutely wonderful. Liquid is the one I have the most questions about. Thanks in advance!
Bitcoin Cash
Nothing really to say here that you all don’t already know. I started using BCH (well when I found it in my blockchain.info account) after BitPay started accepting it for deposits, and well.. I haven’t looked back. It just kinda works perfectly. You know? And I think people like that.
I used to love talking to EVERYONE about Bitcoin, especially my Uber drivers, whom I’d usually tip $5 bucks in BTC. I’d routinely carry a stash of Bitcoin Magazine which I’d give out throughout each day. But more recently, I find myself talking to people about “smart contracts” on Ethereum, as their eyes slowly roll to the back of their heads. Why would I give anyone BTC, for what, to fuckin HODL?
My question here is, “what could I tell an Uber driver today about crypto, that would actually make them give a fuck?” WHAT CAN THEY DO WITH IT, PRACTICALLY?? heavy emphasis on the word “practical”. Please, NO ROADMAPS, NO TECHNICAL MUMBO JUMBO, just something of “real use” and/or of “real value”. eg. I used to get pretty good discounts using eGifter back in the day; that was valuable. Any Amazon discounts today? is purse.io “practical”? never actually used it.
Tether
From the same people that “stole” 30% of my money and didn’t give a fuck. I get it though. They were the first stablecoin. So I’m NOT gonna hate on them. But I’m also never gonna use em, EVER!! (ugh, I guess I’m still pretty salty over the whole thing)
USDC
Backed by Coinbase (ewww) and Circle (I thought I heard they left crypto). Its fully regulated in the US, so that’s a good thing, right? I mean, you gotta have options, and I think this IS a reasonable option for people that want to feel “safe” and hold crypto without volatility. Anything else I need to know???
Dai
This is by far my favorite. Sorry BCH. The irony here is that I’ve never actually used it in commerce. So why the love? I just can’t get over their technicals. IMHO, it’s the “perfect” coin for use with smart contracts. Plus, they just went multi-collateral, which I think is pretty f’in awesome. Still, I just don’t actually see this getting used in the "real-world" of commerce. Am I wrong? Also, would something like Dai (a decentralize stablecoin) be possible on BCH’s SLP? Just heard about SLP, like a few days ago.
I'm really looking forward to getting back into crypto for the start of this new decade. Ain’t gonna lie, still pretty salty over 2016, but perhaps it’s time to move on. And in full disclosure, I just started a sub /r/Telr with the intention of repurposing some of my old tech in this new Bitcoin Legacy world that we live in.
Cheers!
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source https://www.reddit.com/r/btc/comments/emmmpt/bitcoin_legacy/
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