pull down to refresh
1021 sats \ 6 replies \ @SwapMarket 14 Nov \ on: THE CONSENSUS CONUNDRUM - Bitcoin faces a one-of-a-kind leadership problem bitcoin
Don't fix what is not broken. Base level is perfect. Mess with Level 2.
reply
I have no idea how to decipher what you just said. Your verbal skills lack expressivity.
Owning an UTXO by every person and his dog on Earth is not required to use Bitcoin as money. Do you own a SWIFT terminal or a bank vault to use USD? Bitcoin blockchain is a settlement layer for other, decentralized and trustless solutions. Lightning is trustless. Liquid is trust minimized. Both work great.
reply
You don't need to own an UTXO, but you could share an UTXO with a lot of other people, Lightning doesn't allow for that today, Liquid is just an IOU of Bitcoin on a blockchain that's permissioned.
None of these solutions scale ownership of Bitcoin to million of users while keeping the most important properties, but they scale banking on Bitcoin. which defeats the purpose of Bitcoin.
If you believe that Bitcoin we build just to recreate the same system but on a different monetary policy, my man, I have to tell you that you don't understand Bitcoin.
reply
The purpose of Bitcoin is to separate money and state: to deny the monopoly for issuance. It achieves that. Ownership rights for the masses is communism and utopia. Capitalism and banking will never die. But now anyone can become a banker, a broker or an exchange if he has skills. That's the difference - open protocol.
reply
That isn't Bitcoin's purpose, that's the purpose the goldbugs and the austrian school advocates assigned to it.
Ownership rights for the masses is communism
Isn't communism exactly the contrary, no ownership rights fot the people and everyone depends on a third party (daddy estate)? This might be the most retarded shit I've read in a while, maybe ever.
reply
Exactly.
reply