/biz/ - Business & Finance

It became the digital gold, so no need for fast or cheap transactions.

>>25165585
Until we have consistently full blocks there is not reason to raise the block size.

>>25165685
Like in 2017 for weeks on end, potentially having shortened the bullrun?
Small blockers are this generation's Bolsheviks.
Obey ze grand leader's choice of blocksize, peasant.

let bitcoin be bitcoin IMO, we have 200 other currencies that can be different, let the market choose what each is used for

Bitcoin is digital gold, it doesn't need to be a payment system for buying coffee or whatever.

You deposit the bitcoin you want to spend in the next few months on a payment app like square or apple pay or paypal. This is normie friendly and it keeps bitcoin secure as a store of value.

>>25166147
Small blocks didn't shorten the bull run you fucking idiot, Bitcoin going from 250 bucks at the lows of the bear market to 20k ended the run. Bitcoin fees didn't stop the bull run, the fees were tons of people trying to take profit after an epic 80x run, not because they wanted to buy coffee or some bullshit bcasher fantasy

If I wanted to spend my bitcoin I wouldn't try and do a peer to peer transaction with the cashier, instead I would use a payment app on my phone and have the app credit a small amount of bitcoin I keep on the app for day to day transactions.

Using Bitcoin for retail at the current time is a Meme. They realized this and stopped the big block effort before it got out of hand. Store of value and cross border disintermediation won the day and got good reason. It is what will make Bitcoin go to 1 million dollars.

>>25166254
It's not digital gold if a tx costs 100 usd
It's not digital gold if it's too expensive to pay a tx fee to transfer to your own wallet
Having Bitcoin on coinbase is not owning gold. It's having an IOU that can be confiscated at any time.
Fees will either keep growing too 100s of usd, or everyone will just keep their coins on hosted wallets.
The latter is most likely.
Both are failure scenarios.

>>25166350
So you admit bitcoin is a worthless piece of shit? Well at least maxis can admit something

>>25167657
Please try to move $1 billion in gold to the other side of the world for less than $100

>>25167919
wew that's really relevant to the average person who owns $1 billion on gold
As you admit, bitcoin is only "gold" for the wealthy. With real gold any fees are fixed and it scales for the world's population, unlike bitcoin

>>25168015
Roger?

>>25165610
because muh scarcity? Why not 42coin? only 42 in existence, never will be more.... Much more gold than golden btc..

>>25167841
lmao cope

>>25165610
>it became the digital gold
a successful rebranding after it failed as a digital currency

Bitcoin has world leading name recognition in crypto, it has the most secure network hashpower, it's being adopted by institutions right and left as a store of value. The small blockers were right. They saw the digital gold potential and realized the - but muh coffee bros were going to kill Bitcoin if they got their way. Congrat's to Adam and GMax and the rest of the obstructionists.

>>25166147
>Small blockers are this generation's Bolsheviks.
Nah this generation's Bolsheviks are BLM supporters

>>25167657
>Fees will either keep growing too 100s of usd, or everyone will just keep their coins on hosted wallets.
>The latter is most likely.
I am convinced some people got to Adam Backamoto quite early and leaned on him so that this exact scenario. You can't confiscate Bitcoin as easily as you can confiscate Bitcoin IOUs. Only the ultra rich will be able to afford sending BTC when adoption really takes off, and poor people will just have to use bitcoin IOUs like fiat.

>>25169598
BLM supporters are small blockers.

>>25169692
Bitcoin IOU's will also be called central bank digital currencies. They will eventually be backed by distributed crypto because that's all anyone is going to trust after global debt implodes.

>>25165610
160mil in BTC was moved recently for a $1.50 fee. btc is cheap transactions

>>25169598
based and red pilled

>>25169692
only rch people... lets define rich, UHNWI? Rich enough for you? There are ~250,000 of them in the world.... and BTC can do around ~3000 tx per block with 1mb.... so 250,000/3000= ~83 blocks =~13 hours... If only the UHNWI would use BTC on chain they could only do 2 transactions per day.... say to pay the fart inhaling, camel master bating insta likely BLM thot. or their small entourage.... don¨t forget intra bank/exchanges/payment provider net settlements which are also competing for on chain tx.....


1mb is not even big enough to be useful in that kind of "when bitcoin takes off" scenario.

Corecucks nearly killed the most useful invention to free humankind snce the printing press... In minecraft scaphism is not enough of a sentence they deserve.

>>25170032
>Corecucks nearly killed the most useful invention to free humankind snce the printing press
Nah. The irony to me is that the argument for keeping blocks small was so that everyone could run a full node. But the outcome is going to be that only the most wealthy individuals, corporations, and governments will be able to afford to use the chain. Top kek.

>>25169707
BLM supporters are more likely to be Ethereum cucks than anything else. Scarcity is good it's what gives bitcoin value. The dream of peer to peer digital cash is dead but who gives a fuck when our bags are pumping? just stick with the digital gold meme it's better for all of us

>>25165585
turned out you can't have fees cover 10% of miner revenue this early with big blocks. probably gonna double with every halving.
20% then 40% so on...

>>25170177
scarcity... why not https://coinmarketcap.com/currencies/42-coin/ then? very carce... No, usability is key. I fell for the ETH meme until CSW showed me what bitcoin always could do.

I just hope people realize it before the implosion of BTC scarrs everyone out of crypto forever.

>>25170287
is that your all time low cope?

>>25170287
i really like a lot of BSV people. Kevin Pham is a based autist, but no one cares about it. right now BTC is a hedge against global uncertainty. No one needs weather data on any blockchain unless it's been aggregated through chainlink to guarantee accuracy. when BSV integrates Chainlink then maybe we can talk

>>25170439
>No one needs weather data on any blockchain
truth but only half truth.
the most important thing is nobody needs any data that is completely unverifiable thus totally worthless garbage on a global blockchain.