/biz/ - Business & Finance

[Anonymous No.21610574]

Bitcoin can't be money because blockchains don't scale and there is no evidence that they might.

[Anonymous No.21610609]

There is good evidence that PoS will scale with sharding.
It is not proven yet, but there is strong evidence backed by academic research. We will see in 1-2 years if ETH is going to get btfo or not

[Anonymous No.21610615]

>>21610574
If only there were a way to link different blockchains instead of cramming everything into one

[Anonymous No.21610718]

>>21610609
PoS break the economic incentive structure of Bitcoin.

>>21610615
Using multiple blockchains linked by offchain systems defeat the point of blockchain.

Face it, there is no way to scale this technology and retain the principals that make Bitcoin money. Buy gold.

[Anonymous No.21610896]

just because it is not bitcoin doesn't mean it won't be a scalable blockchain
nobody is talking about your meme price of the token. you asked if there are ways to scale blockchains. there literally is. you don't like it. ok
get the fuck out of here you pseudo intellectual. you got btfo'd literally in a single post

[Anonymous No.21611019]

>>21610896
LMAO. Okay, faggot. Enjoy your Lightning 2.0. Doesn't work, can't work, won't work and even if it did it wouldn't create a new paradigm because it fails to provide anything of value because the system it perpetuates is not a deviation from the norm we find ourselves in today.

[Anonymous No.21611053]

>>21610574
Proof of stake destroys your argument

[Anonymous No.21611060]

>>21610574
THATS WHY CRAIG "THE REAL SATOSHI" WRIGHT MADE BSV

[Anonymous No.21611076]

>>21610718
>Using multiple blockchains linked by offchain systems defeat the point of blockchain.
Yes... or does it? That's what one would call the Oracle Problem.

[Anonymous No.21611090]

Real crypto that has solved the trilemma will be live Q1 2021.

[Anonymous No.21611179]

>>21611076
No, they wouldn't. Because if a person wanted to upload data to the Blockchain they'd just do it. That's suppose to be one of the problems blockchain solves. Having a bunch of private or otherwise offline ledgers does not enhance the security or utility of a blockchain, it diminishes it.

[Anonymous No.21611198]

>>21611060
Craig lies.

[Anonymous No.21611212]

>>21611019
>there is no technology to make it work!
>here it is
>but i don't like it!
you are a faggot. you literally asked how to scale blockchains and the answer is sharding, nobody gives a shit if you don't like it

[Anonymous No.21611236]

>>21611179
Proof of stake

[Anonymous No.21611262]

You’re not getting one chainlink from me you scum

[Anonymous No.21611277]

>>21611212
>>21611236

It's not a blockchain unless it adheres to the economic incentives that make it secure. If you believe PoS is a viable option then I have some other imposter "blockchains" to sell you.

[Anonymous No.21611296]

>>21610574

The reality is Bitcoin will be a reserve asset while governments will mint their own fiat currencies backed by their Bitcoin reserves. Countries will choose their peg rate. Bitcoin isn’t going to take over currency, its going to take over stores of wealth (gold, offshore bank accounts, etc).

Anybody who owns 10K+ Bitcoin will be richer than some countries.

[Anonymous No.21611307]

>>21611179
If only there were a way to decentralize inputs and outputs to and from a given blockchain

[Anonymous No.21611363]

layer 2
offchain swaps

/thread

[Anonymous No.21611372]

>>21611307
There isn't. No amount of hopium will make data decentralized.

>>21611296
Then it's a banking tool and doesn't solve any fundamental problems because its controlled by few who will just put payment processors on top of it.

[Anonymous No.21611396]

>>21611277
oh my god, imagine thinking you know anything writing stupid shit like that
BLOCKCHAIN is just an immutable, decentralized database that can be easily verified but is difficult to construct. you asked how to scale it, there is a very simple answer -- sharding
you're talking about public cryptocurrencies and systems around that. learn how to state a question right you fucking imbecile
cryptocurrencies are built on blockchains, but not all blockchains are cryptocurrency systems. you have just revealed you have a brain the size of a peanut
fucks sake, I feel dumber just by talking to you
sage

[Anonymous No.21611416]

>>21611372
If only there were already instances of decentralized data feeds already live and proving themselves to be the most competitive alternative within their market

[Anonymous No.21611479]

>>21611277
Proof of stake has economic incentive LMAO

[Anonymous No.21611581]

>>21611372

There are no such thing as fairytales bud. No creation is going to magically save us from oppression. Bitcoin as a banking tool does give us some power back.

[Anonymous No.21611612]

>>21611396
>not understanding how PoS works and who wins the game every time
Begone, retard.

>>21611416
>decentralized data
Again, doesn't exist. If someone wants data for a smart contract, paying a third party makes no sense and you'd be a fool (clearly are) to assume secondary sources have more integrity than primary ones. Also the incentives for which are even better.

>>21611479
Perverse ones. Miners can fail. The largest wallet(s) in existence cannot. Lets not also forget PoS shitcoins are all premined.

Imagine still playing this game. After it became obvious Bitcoin couldn't scale you should have AT LEAST hedged your bets with PMs.

[Anonymous No.21611629]

>>21611581
>Bitcoin as a banking tool does give us some power back.
It does? In what way?

[Anonymous No.21612261]

Niggers

[Anonymous No.21612329]

>>21611629

Because it has a hard cap supply that can be audited at all times by anybody. Countries can issue limitless fiat against it, but if they do that they can’t obfuscate how much Bitcoin they have backing it.

[Anonymous No.21612349]

>>21610574

Paper money can scale much better than the gold transaction network. Printing paper bills is much faster and cheaper than minting coins. Transaction costs for paper currency are much lower than costs for transporting gold.

[Anonymous No.21612565]

>>21612329
That method at scale that would mean normal people don't use Bitcoin, but instead they go through a bank or payment processor. Which in turn would mean most if not all transactions are done offchain and banks settle between each other sometimes. You could audit it with your node, but since all commerce is done offchain anyway it wouldn't matter. They'd still be able to pull the goldsmith IOU scam.

>>21612349
Both are susceptible to the IOU scam, which Bitcoin was unironically suppose to solve. Not only is it a commodity asset, but a currency as well. Gold can't do that and apparently Bitcoin can't either... Any time you "back" a currency with something you run the risk of token/IOU scams. Bitcoin was suppose to be the only thing in human history that can work as both a money and a currency.

[Anonymous No.21613002]

>>21611090
IOTA?
;)

[Anonymous No.21613408]

>>21613002
DAGs are a failed technology, at least when used for the problems blockchain is suppose to solve.

[Anonymous No.21613710]

Niggers