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29338547 No.29338547 [Reply] [Original]

Bitcoin is a meme coin.

>> No.29338856

ldj thought that was 5x too big

>> No.29338972

>>29338547
needs smaller block size

>> No.29339057

>>29338547
1kb block size hit me up

>> No.29339080

>>29338547
educate yourself
https://en.bitcoin.it/wiki/Scalability_FAQ

>> No.29339246
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29339246

>>29338547

Once you realise that AVAX doesn't have any problems to do with shitty block sizes, endless confirmation times, retarded fees AND has a token economy that is even more deflationary than Bitcoin due to the token burn, you realise it replaces Ethereum AND Bitcoin.

Reminder: Bitcoin is 13 year old tech - that's a fucking lifetime in internet technology.

>> No.29339368

>>29339246
You clearly are a new fag and don't know how anything works. Educate yourself.

>> No.29339543

>>29339080
>https://en.bitcoin.it/wiki/Scalability_FAQ
thx

>> No.29339736

>>29339368

Literally been in crypto since 2010.

>> No.29340001

>>29338547
educate yourself
https://localmonero.co/knowledge/dynamic-block-size?language=en

>> No.29340434
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29340434

>>29338547
Here's a recent block (#671614):
https://blockexplorer.one/btc/mainnet/blockId/671614
It's about ~1.6mb, blocks can be up to 4mb on BTC now days.
You didn't know this because you're an ignorant fuck that only follows altcoin forums that have a financial incentive to convince you that their coin is superior to BTC and that BTC is old boomer tech.
But the main thing you don't know is why increasing the blocksize exponentially increases node centralization and would have allowed BTC to be Parler'd by now had the BTC devs caved into low IQ newcoiners.

>> No.29340666

>>29340434
btc is already centralized

>> No.29340755

>>29340666
No it isn't:
https://bitnodes.io/nodes/live-map/

>> No.29340890

>>29340755
>https://bitnodes.io/nodes/live-map/
https://www.statista.com/statistics/1200477/bitcoin-mining-by-country/
Well one of us is right and I'm not taking chances

>> No.29340899

>>29340001
based

>> No.29341011

>>29338547
your a mem coin

>> No.29341082

>>29339736
sure newfag

>> No.29341205

>>29339246
>Bitcoin is 13 year old tech - that's a fucking lifetime in internet technology.
Bitcoin is finacial tech too, and 13 years of existing in finance is like a blip on the radar still.

>> No.29341288

>>29341205
Indeed, BTC is stuck between a rock and a hard place. Too old for technology, and too new for finance.

>> No.29341372

>>29338547
its all a meme. fiat is not going anywhere

goldman sachs invented bitcoin to trap excess liquidity and prevent inflation since they new the market would crash in 08' and the world would print money in response.

>> No.29341480

>>29340890
Miners have to play within the rules dictated by node software, if a miner broadcasts a new block that breaks the rules of bitcoin set by the nodes (like: there are only 21 million BTC, or anyone can make a transaction) then that block is invalid and rejected by the network. Miner centralization is bad, but it's not the death of a crypto. Just like a PoS coin having whales, at least in a PoW coin the "whales" can be dethroned.
Node centralization on the other hand (like BNB, and also ETH technically lol) means your transactions can be frozen, the supply can be increased and you have no privacy. Basically a bank with a database at that point, totally worthless.

>> No.29341508
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29341508

>>29341372

>> No.29341692
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29341692

>>29341480
if a miner has >51% he can subvert the non-mining nodes and beat them to submission by creating a bigger chain then the rest of the mining power is creating

>> No.29341707
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29341707

>>29341480
that's why it's a problem having the whole network being based in china. It's definitely better than BNB/ETH, but miles away from something like XMR.

>> No.29341953

>>29341692
I fully expect a BTC black swan where it loses 99.99% of its value instantly and nobody knows why.
4chan used to be great at this kind of thing but now everyone's so fucking jewish on this board.

>> No.29342040

>>29339368
these people who have been in cypto for too long just dont get it. fresh money and fresh ideas are coming into the space and youll hold your dinosaur coins until the end simly because they used to outperform. bitcoin will go to zero. no utility, no value.

>> No.29342155

>>29342040
Digital Yuan is ironically the only good crypto out there. Yet
That's why come next crash I'm gonna go all in on the blockchain infrastructure side.

>> No.29342231
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29342231

>>29341692
That's not how it works at all. If a miner creates a bigger invalid chain, it's a hard fork. The nodes will just continue to follow the longest VALID chain to their source code. You fucking brainlets.

>> No.29342273

>>29341707
Based XMR boy

>> No.29342550

>>29342231
A chain with no hashpower is no chain at all.

>> No.29342565

>>29342155
checked and truthful. but you can do that now by buying XRP... seriously look into it, it actually makes sense, and is in no way threatened by the advent of CBDCs

>> No.29342588
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29342588

>>29342231
The hard fork is the 49% that is left over you delusional btc maxi

>> No.29342763

>>29341692
and why would anyone do that? you realize the coin they could be stealing would be worthless at that point

>> No.29342768

>>29341707
truth is, even with the algorithm that btfo's ASICS, mining will still concentrate where the electricity cost is lower eventually

>> No.29342820

>>29342763
its unlikely, but not impossible nor preventable

>> No.29342893

>>29342231
i dont think you understand what constitutes a VALID chain

>> No.29343064

>>29342768
Yup, but electricity is only one factor. Mass produced ASICs that are held inside the country is troubling as well. At least with CPUs we have a better distribution around the world.

>> No.29343212

>>29342768
also, i havent looked into the mining algorithm itself, but if it allows any kind of parallelism, the miners will stack regular CPUs on top of each other instead of an ASIC, which makes no difference. reminder that making an algorithm use more memory wont make it ASIC or GPU proof

>> No.29343476

>>29340434
Based maxi. Don't see too many on biz lately, but thanks for fighting the good fight

>> No.29343692

>>29343212
sorry to break this to you anon, but you can't stack CPUs

>> No.29344489

>>29343692
of course you can, i used the word stack but you could imagine a network of computers woring together to calculate the POW(assuming RandomX allows any form of parallelism)