20 sats \ 14 replies \ @freetx 17 Mar \ on: I'm losing my faith (II) bitcoin
Here is the conundrum:
BTC can only have ~200M transactions per year. This is enough for say ~70M "active" users (3 txn per year per user).
What about the risk of a rival chain supplanting BTC and achieving a 50% world penetration? The world is replete with examples of "the best" solution losing out to a "good" solution if the right balance of features is achieved.
It seems to me that:
Main Chain <-> Federated Solutions <-> Centralized Solutions
Offers an acceptable spectrum of solutions if the users can move between those layers easily.
I’m surprised by all the Blockstream hate
Strikes me as immature, another prominent trait among stackers
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All that Blockstream hate is in the room with us now?
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Yes and in other threads
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I haven't seen it, but if you have, that's ok.
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Look at threads about blockstream which has SN account.
Specifically green and aqua
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Green, that wallet that has been the last one to have coin selection? I wonder why people don't like it...
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Liquid is also about confidentiality and low fees
Not just scalability
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I've been using it to rebalance lightning channels for ridiculously low fees. I've turned into a liquid believer overnight
Yeah, I know...
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That potential "scaling chain" would have to battle the 20k+ shitcoins first before it gets to the throne. I wouldn't worry about it that much. Even in the misleading "bitcoin dominance" terms all thousands shitcoins combined are valued less than half of the total "crypto market cap". Any shitcoin is simply bitcoin's counterfeit inflation which we can easily detect and dismiss. The only effect of it is a temporary drop of bitcoin's purchase power which lets other people stack harder.