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0 sats \ 15 replies \ @Scoresby 9h \ parent \ on: Scaling DEBUNKED: No More Than 5-10 Million Can Use Bitcoin, EVER! bitcoin
Why can't the same consensus rules with a mining algo change produce similar security?
Will you be asking the same question over and over, expecting different answer?
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Security comes from the scale of the network, for which there is inherently one Schelling point, the rules are irrelevant
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Obviously many people use other chains.
Mostly the consensus rules of those chains are not even close to Bitcoin. But in a sustained high fee environment, I don't see why a second Bitcoin couldn't emerge.
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I don't understand this conversation. People want Bitcoin... not 'other chains'.
Have you guys seen the eth/btc chart lately?
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If people created 'other chains' (they have) they wouldn't be Bitcoin. Bitcoin is what people want.
Something like liquid might be useful for scaling and liquidity management (I think it is honestly) but try mentioning that around here.
The uncomfortable truth is that if we had sustained 'high fees' for monetary/capital purposes... people would pay them.
The world's businesses and institutions plus upper-income people in 'developed' countries will pay the fees as necessary (just like they pay for things today).
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People also use dollars, dollars are arguably better currency.
Litecoin is arguably better currency than Bitcoin too... could go on forever with a million other shitcoins, stablecoins, blah blah blah.
Yet a second Bitcoin cannot emerge, because Bitcoin is not just a currency. Misunderstanding this fundamental thing is what that leads people into crypto more broadly.
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Had just re-worded some things above before your res
Bitcoin is not a purely technical thing.
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I've read the page on numaraires before (I think the last time you referred me to it). But what I don't get is how it implies BTC exclusively.
If there is another source to read I'm happy to go there, but at the moment, I'm skeptical of anything that claims to be the one and only.