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19286565 No.19286565 [Reply] [Original] [archived.moe]

Hail to the king, baby.

>> No.19286757

>>19286565
king:
BTC
jester:
BSV

>> No.19286793

>>19286565
Based
>>19286757
The bandwidth might not be as prohibitive as you think. A typical transaction would be about 400 bytes (ECC is nicely compact). Each transaction has to be broadcast twice, so lets say 1KB per transaction. Visa processed 37 billion transactions in FY2008, or an average of 100 million transactions per day. That many transactions would take 100GB of bandwidth, or the size of 12 DVD or 2 HD quality movies, or about $18 worth of bandwidth at current prices.

>> No.19287588

>>19286565
even when the king shits the bed he is still the king and the peasants just have to deal with it.

>> No.19287662
File: 122 KB, 700x998, bitcoin-forks-explained.jpg [View same] [iqdb] [saucenao] [google]
19287662

also

>> No.19287680

>>19287662
Maximalist dishonesty in its fullest.

>> No.19287858

>>19287680
not a maximalist m8 i'm a crypto fundamentalist
i value cryptos based on the absolute fundamentals and the original value proposition.
shitcoins come and go nothing lives up to the promise but the king.

>> No.19287912
File: 906 KB, 850x918, 1582176423622.png [View same] [iqdb] [saucenao] [google]
19287912

>>19286565
Most won't understand until it's too late. Whatever. Fuck these NPC faggots being scammed by blockstream kikes. They refuse to do even 10 minutes of research

>> No.19287972
File: 612 KB, 960x916, Sergey Nazarov Chainlink.jpg [View same] [iqdb] [saucenao] [google]
19287972

>>19287912
I like BSV but Craig can eat a ten feet wall of dicks.

>> No.19287991
File: 2.08 MB, 1176x1764, 1574177575044.jpg [View same] [iqdb] [saucenao] [google]
19287991

My original creation was king and then you ruined it.

And then I had to come back.

The king is back baby.

>> No.19288091

>>19287991
Simon Cowell has really let himself go.

>> No.19288111

>>19287972
Kek
https://www.youtube.com/watch?v=wL9J24SYCKg

>> No.19288127

>>19287680
shill retardation in its fullest.

>> No.19288140

>>19286565
https://m.youtube.com/watch?v=jfx7PnMtCeY

>> No.19288144

What's the motivation behind shitting on bitcoin? No one is getting rich or losing a fortune... It's like getting angry at people who buy gold just because you think it's not fair that it's more expensive than it used to be.

>> No.19288181

BTC is for cucks. Most people who support btc came late, OGs have moved on. Just stupid, delusional cucks in BTC.

>> No.19288341

>>19288111
>2007
Prophet

>> No.19288342

>>19287912
if you did just 5 minutes of actual research instead of desperate bias confirmation you would know craig is so full of shit it keeps spilling from his mouth whether he wants it or not.

>> No.19288344
File: 633 KB, 2625x2274, Bitcoin.jpg [View same] [iqdb] [saucenao] [google]
19288344

>>19288181
>OGs have moved on
Not all of them, btw. Just take a look at Dan Held who lies his ass off, defending BTC.

>> No.19288353

>>19287972
Imagine saving a meme this gay on your computer.

>> No.19288375

>>19288181
that's just like your opinion also most of those tards that call themselves "og" are just fucking larps and degenerate gamblers that lucked out turned to shitcoins because they are both bored both have a god complex. about 90% of the actual early adopters are still in btc.

>> No.19288403
File: 18 KB, 789x750, 1527724970246.png [View same] [iqdb] [saucenao] [google]
19288403

i am hodling and no one can take my BTC

>> No.19288439
File: 237 KB, 1440x1740, Chainlink.jpg [View same] [iqdb] [saucenao] [google]
19288439

>>19288353
Here's a less gay one.

>> No.19289079
File: 124 KB, 491x396, 15775117670797860543431763210849.png [View same] [iqdb] [saucenao] [google]
19289079

>>19287972
>>19288439
>5 posts by this ID

>> No.19289691
File: 260 KB, 1076x1586, 1590246038945.png [View same] [iqdb] [saucenao] [google]
19289691

>>19288375
Lots of tard OGs for sure but it has been the most retarded that stuck with bitcoin. The retards that went into shitcoins made fat stacks at least. But retarded OGs pale in comparison to the absolute clowns that make up the ranks of btc maximalists these days like Tone Vays and Peter McCoreCuck.

Pic related is what a smart OG looks like today. Not just some bum that got lucky but a guy that understood what he saw, and has proven his competence with his multiple successful crypto businesses. There are more like this but by their nature, xmr supporters keep a low profile generally.

>> No.19290208

>>19289691
>People who stuck with the best performing asset in human history are stupid because after 2,000,000% gains they did sell on a correction during the very early stages of this new asset of absolute scarcity.
stay poor

>> No.19290234

>>19289079
As somebody who is fond of seeing BSV succeed, Faketoshi's antics definitely give me a headache.

>> No.19290254
File: 403 KB, 990x594, LOKI.png [View same] [iqdb] [saucenao] [google]
19290254

I bow to the king but am speculating on pic related doing a 100x

Am I accepted by maxis?

>> No.19290351

>>19287858
Lmao, either a larp or an absolute fucking idiot. Either way keep talking. Good mid day entertainment.

>> No.19290432

>>19286793
And yet in 2020 the vast majority of people can't download anywhere close to 100 GB a day on our shitty connections. Maybe in another 10 years when fiber is common everywhere but for now it would only be businesses that could afford to run nodes

>> No.19290562

>>19290351
that's because you have no clue what makes bitcoin a real innovation.

>> No.19290899

>>19290562
BTCs future security model seems to be predicated on the existence of bitcoin based financial institutions that settle massive accounts with each other. Financial freedom would be reserved for the rich, just like it is today with offshore accounts.

Alright you stopped the money printing. So what? You don't have to store your value in fiat. A bitcoin based financial system would just be a more dystopian version of what we have now.

>> No.19291051

>>19288342
reading retarded made up things on reddit isn't research
remind what happened to the big story of him plagiarizing his papers?
oh nothing ofc, never mentioned again...

>> No.19291112

>>19288344
BTC will be the store of value Digital Gold. You’ll spend a stable coin for online payments. Simple as that.

>> No.19291149

>>19290208
Why was Monero delisted though?

>>19289691
>5 of the top 20 btc adresses are mine
who is this guy?

>> No.19291224

>>19290899
You don't want to spend a deflationary currency. You want your coins locked up in decentralized contracts similar to how LN is supposed to work.You settle some of those contracts rarely and when you do it can happen in the same transaction as other on chain settlements. This allows high transaction fees for miners which solves the main problem with the security of deflationary crypto.
You'll be able to lend within the contract without settling. If anything happens like a zombie scenario the system is in a state that can be settled by any one party as the others time out. The blockchain layer is just the last layer of defense against disaster or fraud. What it provides is security.

>> No.19291289
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19291289

buy coin sir

>> No.19291312

>>19286793
HOL UP HOL UP HOL UP

SO YOUS BE SAYIN'?

The existing Visa credit card network processes about 15 million Internet purchases per day worldwide. Bitcoin can already scale much larger than that with existing hardware for a fraction of the cost. It never really hits a scale ceiling.

>> No.19291317

Back in 2015 when I first bought btc, I realized the potential that it had, and was really bought into the principle of btc. However at the time, btc was limited in transaction time and transaction amount. Naysayers of btc would say: “ who is going to wait 20 minutes at the cash register just to pay in btc’. Also it was accepted that bitcoin had a long way to go before reaching transaction levels comparable to visa. This was all OK though because btc was still relatively early and we all still saw the vision and evolutionary path to btc becoming the decentralized, secure , p2p cash it was designed to be.
Fast forward to now...btc is farther from p2p cash than it was in 2015. In fact, it’s whole narrative shifted away from p2p cash. It’s transaction times still take 5-20 minutes if not longer. It’s transaction capacity is still nowhere near visa levels. No good second layers have been built yet (lightning network sucks). There was a glimmer of hope in 2017 when some new businesses began accepting bitcoin as payment, but they have since dropped btc as a payment method.
Bitcoin is now literally only useful as a trading pair for altcoins. Btc has actually managed to devolve since 2015 when I first became interested.
How has the internet managed to brainwash so many people?
As someone who once loved and really believed in bitcoin, I am heartbroken. I only still believe because I don’t want to admit defeat yet.
The 2016-2017 crypto bullrun was based on hype, speculation, and potential.
The next crypto bullrun, if it ever happens, will be based on privacy and actual utility. Btc has neither at the moment

>> No.19291420

>>19290432
Okay but what if long before the network gets anywhere near as large as that, it would be safe for users to use Simplified Payment Verification (section 8) to check for double spending, which only requires having the chain of block headers, or about 12KB per day. Only people trying to create new coins would need to run network nodes. At first, most users would run network nodes, but as the network grows beyond a certain point, it would be left more and more to specialists with server farms of specialized hardware. A server farm would only need to have one node on the network and the rest of the LAN connects with that one node.

>> No.19291473
File: 147 KB, 209x272, 1589480637835.png [View same] [iqdb] [saucenao] [google]
19291473

>>19291420
>centralize mining AND validation of transactions into office buildings so 3 letter agencies can knock on said buildings' doors
oy vey

>> No.19291546

>>19290899
>bitcoin based financial institutions
>stopped the money printing
>bitcoin based financial system
not the point man. it's the only one trustless permissionless publicly auditable ledger to date that is actually secure, because it's actually a byzantine fault tolerant distributed system.

everything else is just a distraction. also impatient schizo ramblings.
>>19291051
no idea what you are talking about never been to reddit and don't care who accused craig of what i can draw my conclusions from what he has been saying all along. he has no clue whatsoever what is bitcoin.

>> No.19291568

>>19291317
You can have infinite scaling and anything you want, you just don't also get a system that can resist government scale spending. It's debatable how much resistance BTC provides but it's at least some as opposed to none by any of the other cryptos.
The thing about the token that you use directly for commerce is you don't have to own it for long, it's best if it has incentives to make you want to get rid of it like inflation does. The optimal token for commerce is like dogecoin. It doesn't spend much resources on securing wallets. The transactions are safe but you wouldn't want to keep your wealth in dogecoin.

>> No.19291727

>>19291317
nah the next bullrun will be based on hype, speculation and fomo also. every bullrun will be.
some things never change.
>btc is farther from p2p cash than it was in 2015
for obvious economic reasons.
> Btc has actually managed to devolve since 2015
yeah that's bollocks, brainlet cashie talk. the reason people don't see bitcoin development is because it became more complex than what their room temperature iq brain can understand.
the potential in segwit and taproot is crazy. i only realized something a couple of days ago. you can actually create huge deterministic state transition smart contracts for bitcoin with segwit and taproot with minimal on-chain burden. and that's quiet fascinating. meanwhile cashies are busy removing this capability from bitcoin.

>> No.19291775

>>19290899
I have felt absolutely no need to move any of my btc in years. Why would anyone be incentivized to spend the hardest money in the history of mankind?
I've got a couple lightning channels and that's it, I mostly just use it to buy my vpn and play some shitty gambling games.
This is what the bch people fundamentally misunderstand. The monetary policy of Bitcoin ensures it will always be more rational to hoard than use as p2p cash. So from there the only logical conclusion is that keep blocks small to allow a fee market to develop. This is how you preserve the most important quality which is the 21 million cap. Bch blocks are pulling in an average of like 50 cents in fees because their blocks are too big. Their security will get worse and worse every halving while they trend to zero

>> No.19291805
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19291805

>>19291727
https://blockstream.com/2020/04/16/en-bitcoin-privacy-improves-with-btcpay-servers-p2ep-implementation/

blockstream is making bitcoin actually fungible and anonymous (unlike any of those shitcoins) while pajeets shitpost

>> No.19291867

>>19291317
>hardest monetary good in the history of mankind
>EVERYONE that has ever spent their Bitcoin regrets it

The incentives don't line up. It is objectively better to hoard than spend. This is why the store of value narrative is not a meme, in fact the digital gold idea is so clear cut that everyone understands it. The past 11 years have been a collective lesson that Bitcoin is too valuable to spend on trivial shit. We just had Bitcoin pizza day yesterday. But Roger and Craig have managed to convince a bunch of idiots to want to spend a fixed supply money and reduce it's decentralization in the process.
Satoshi got it wrong and that's ok, his real invention was the scarcity. If this is really meant to be p2p cash then it should have inflation. Otherwise this is just a big lesson in Greshams Law that cashies are flunking everyday

>> No.19291937
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19291937

>>19291317
Me too.
Faggots like >>19291568 are clueless and probably weren't around back then when everyone into bitcoin knew that as a matter of course the block size cap would be raised as needed. Then 2015 rolls around and Gmax and his merry band of sockpuppets, as well as other assorted core kikes use every dirty trick in the book - censorship, deplatforming and witchhunting - to astroturf their muh store of value digital gold pseudonarrative.
Fuck them all. They managed to derail bitcoin temporarily but in the end history will steamroll them.

>> No.19291978
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19291978

>>19291805
>posts sergey

>> No.19291999
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19291999

>>19291867

>> No.19292027
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19292027

>>19291999

>> No.19292067

>>19291937
I was talking about doing everything on chain in 2013. How do you think we know it doesn't work? Do you remember satoshidice? When things are cheap capacity will always be filled because someone is subsidizing that capacity. Like BSV does.
>censorship, deplatforming and witchhunting
I don't base analysis of technical issues on the behavior of some soi faggots and I don't follow these politics or use any platform with usernames. The objective facts remain.

>> No.19292098

>>19291937
Digital gold is the only narrative that makes sense, and its what people intuitively do when they get some. Bitcoin has the wrong monetary policy if you want to encourage spending.

The only reason it was ever a medium of exchange early on is because the inflation was massive the first several years, and this is how you bootstrap some value into the system. After that anybody that isn't hoarding is literally retarded

>> No.19292113
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19292113

>>19291727
your sidechain scaling fantasy has been denied
give it up

>> No.19292690

>>19291937
They could've raised the block size for just one megabyte as proclaimed but they didn't.

>> No.19293473

>>19292113
not exactly sidechain, read up on taproot!
it's basically a merkle tree for the sigscript. you only have to reveal the branch of your smart contract that is executing currently and only in the segwit extension block meanwhile the main block is reserved for the actual financial part of the transaction.
it's genius. bitcoin also took the halving pretty well so far i expected much worse. so the situation is getting more bullish by the hour.
>>19292690
if you are talking about segwit2x the reason the miners didn't activate it was because it was chock full of critical bugs (and also blacklisting of addresses like wtf??)

>> No.19293666

>>19287972
>I like B*V
>Also posts a ch**n***k pic

Anyone else noticing this? It's almost like they're the same pajeet

>>
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