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1 sat \ 0 replies \ @Derpitor 1 Feb 2023 \ on: Explain to me why Bitcoin Maxis reject non proof-of-stake alt-coins? bitcoin
Few Examples:
Litecoin is literally a clone of BTC with tweaked parameters. However it does have its use as sort of a testing ground for BTC (segwit for example). Plus it still has a figurehead in Charlie
When Grin was released, miners were ready and so it didn't really become a fair launch as all the heavy duty GPU people gobbled up the hashrate.
ETH: 70% premine.
As bitcoin was released during a time where there was no fanfare it had the time to establish and decentralize itself which no other coin can have. You could call it the "immaculate conception" of a blockchain that no other will ever be able to repeat.
This is just a few examples. It's almost as if every PoW coin that isn't bitcoin has its own reason for being rejected by maxis.
Why do people keep saying that Chivo wallet isn't a bitcoin wallet and that its a wrapped bitcoin on Algorand?
I don't think the blocksize will increase.
What I do think could be a possibility is that there is a rollup layer so when there are people who need to settle on the basechain its done by rolling up a bunch of tx into one basechain tx for settlement.
Some exchanges are doing a centralized version of this for withdrawals. Combining many withdrawals into one tx to reduce congestion and fees.
ZK rollups could fit this need as it is actively being developed for bitcoin.
Example: 30 years from now you have about 1000 users that want to withdraw lightning sats into cold storage. The lightning tx's get aggrigated into a single ZK rollup TX on the basechain to distribute all the funds to the basechain wallet addresses. This in theory would reduce the need to ever increase the block size on layer one and allow all the raspberry pis in the world to keep on keeping on. :)
I'll push back a bit.
As long as there is a value proposition for ETH it will exist. Obviously there are some red flags around it but at this point it has been around long enough and has "decentralized" enough that it likely won't come crashing down.
The issue with it right now is state capture and that has been exacerbated with their currently crappy staking mechanism. ETH is far from being a complete product and will still take many years to develop.
Now ETH trying to brand itself as ultrasound money (which I don't think Vitalik is trying to do) is just plain dumb as you don't know what the supply will be even one block from now.
Centralization is still a big issue with ETH but right now I see it could still play an important role going forward as the permissioned censorship blockchain that businesses and governments like and would potentially use. Comparing that to Bitcoin is stupid and they will fulfil different purposes in the future.
This is just my opinion though.
This is one of the great benefits of Bitcoin mining and flexible power consumption. They are building mini grids all over Africa now. Before the locals could not afford the energy but with mining subsidizing the electricity costs, it's becoming more affordable for locals to get access to energy. This is an amazing step forward for humanity.
Honestly, I'm not a builder but I am working on increasing my knowledge so that when the time comes for my friends to want to learn and be orange pilled, I will be ready.
Right now I am just seen as a lunatic. I hope to become someone who people look to for onboarding when the time is right :)
I would check with Zebedee to see if they have something like that. If they don't they could be developing a usecase. Zebedee is focused on using the lightning network for gaming.
Gemini uses Genesis for their earn and yield shenanigans.
In fact most of the yield generation in the cefi space is using Genesis.
Steady lads, deploying more contagion.