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File: 56 KB, 1040x587, Satoshi-Nakamoto.png [View same] [iqdb] [saucenao] [google]
52383907 No.52383907 [Reply] [Original]

Evidently Bitcoin failed at its premise of being p2p cash. And if it ever was going to succeed via Lightning or other solutions, I'm afraid FTX-like events will absolutely regulate it to hell. At the moment of writing, Ether is gaining significantly in terms of sats all the while Bitcoin miners are leaving the network one by one. And the dissipation of block rewards hasn't even been addressed. Is this the end? Or a new beginning? Will Bitcoin rise from its ashes like a phoenix?

>> No.52384040

>>52383907
ETH is technologically superior, has most network usage, utility, innovations, developers, etc

BTC will still be around, it will just underperform relative to ETH. It may still outperform lots of alts though. BTC and ETH will be the main 'entrances', but ETH will outperform for reasons above

>> No.52384090

>failed
the only thing that failed was every single alt trying and failing to differentiate themselves while ending up in an endless .com bubble cycle for the past decade.
all while bitcoin kept making new highs and alts kept making lower btc highs.

>> No.52384154

Regulation is dark horse. Lightning irrelevant, crypto is for gambling and you don't need lightning for that.

The bigger problem as I see it is that the Bitcoin community has no plan B for if Eth gets close to flipping BTC. The maxis have been spending 10 years turning the lack of hard forks after Satoshi into a religious dictum and fundamental to Bitcoin's superiority. A flip would hit them harder than Trump winning did liberals, it will cause massive infighting and outright insanity. They have painted themselves into a corner.

>> No.52384443
File: 121 KB, 1946x1167, mevwatch.png [View same] [iqdb] [saucenao] [google]
52384443

>>52384040
Am I correct in saying that one of the main reasons why Ether is outperforming BTC is because people cannot unstake their Ether until the next upgrade? The quantities are probably in the hundreds of millions in USD.

>staked ETH (ETH2.S) will remain staked and not available for unstaking until the Shanghai upgrade at a later date.
https://support.kraken.com/hc/en-us/articles/360052734432-Ethereum-Merge-Staking-and-Trading-FAQ

>ETH is technologically superior, has most network usage, utility, innovations, developers, etc
That's true, but all that comes at a cost. Almost every upgrade is a hard fork where things could break. And these upgrades are mostly steered by the Ethereum Foundation, which brings a host of other issues. OFAC compliance also worries me: https://www.mevwatch.info/

>> No.52384477

>>52384154
>>52384090
BIP300 was supposed to pave the way to 100% BTC dominance, whatever happened to that?

>> No.52384836

>>52384443
Ya but wouldent the market be pricing in future massive unlocks...

>> No.52384893

>>52384477
Never went anywhere. Critics say it's too risky since the side chains would allow miners to slowly deplete funds. And if something is possible and profitable it will be done. So adding something like that into bitcoin core is too much of a risk

>> No.52385092

>>52384477
there's no such thing as "dominance"
15-20% of the "crypto" cap are stablecoins
70%+ of the total altcoin marketcaps are completely imaginary due to low-
float/high-premine assets

every individual alt that's been around for more than 4 years is just on a massive slide downwards against bitcoin, but the printing of new alts is so incessant that the total "dominance" can only go down.

if you want real dominance numbers you need to look at actual usage of any of these things outside of the number-go-up markets, and bitcoin has such a clear lead there despite high fees it really shows how fraudulent the concept of an altcoin marketcap is.

>> No.52385143

I cannot use bitcoin as money like I did back in 2012-2014

>> No.52385186

>>52385143
I need my digital currency to be able to buy a cup of coffee or an ounce of weed , I can’t do that with bitcoin cost effectively now

>> No.52385248

>>52384154
ethereum's last high was 5 years 6 months ago. it's skipped an entire bullrun.
the ponzinomics now in place make eth an attractive investment mid term, but it's never been a long-term investment, and that's only cemented the more they fiddle with it.

if ethereum was going to flip bitcoin, it would have in 2017, when bitcoin had just had the entire mining industry and centralized exchange industry try to take control of it, and when every ico was forcing you to buy eth to participate in it.
today eth competes heavily with stablecoins, and even wrapped bitcoin on it's own platform. all forks of bitcoin have failed miserably; base layer scaling has now failed on ethereum and they're forced to adopt a layer 2 paradigm (a concept developed exclusively for bitcoin relating to bitcoin's exclusive strengths as a unique asset); and the regulatory future continues to side with bitcoin and against the types of activity that ethereum was designed to take advantage of.

bitcoin has literally never been in a stronger position today than at any point before.
every single altcoin created cements bitcoin's unique position,
and all every altmaxi can talk about is marketcap, as they dwindle at 50% or under their long forgotten all time high

>> No.52385272

>>52385143
>>52385186
you clearly never did back then because it's even easier now.
even on-chain fees aren't as high as they used to be.

>> No.52385297

>>52384154
The mother asshole of all shitcoins was never a serious competitor much less now that the fact that's completely captured is blatant to everyone but it's not like shitcoiners ever understood why bitcoin was and will remain forever special.
https://www.mevwatch.info/

>> No.52385446

>>52385297
people have real difficulty separating the fact that eth and ethereum are tools for making money with the simple fact that eth itself will never be money.

>> No.52385452

>>52385272
okay lol, I’m just telling you my experience with it . When the world tried to adopt it as a currency back in 2017-2018 the fees went to $50 with wait times of days… currencies require circulation , it doesn’t circulate. Implementing nostro/vostro accounts into bitcoin and calling it lightning network doesn’t solve the problem. I don’t want payment channels, it’s not a solution.

>> No.52385545

In my opinion, privacy focused coins will start to take the spotlight as an actual cryptocurrency. Unfortunately, Bitcoin is used more as a speculative asset nowadays, rather than an actual currency. Yes, there’s developments like Lightning Network, etc. but the reason it’s valued so high is purely speculation.
Too bad Zcash is a glowing honeypot, because the idea of a currency that can be both as transparent and opaque as needed is very neat.
>inb4 BTC can be private
XMR controls the darknet for a reason.

>> No.52385702

Bitcoin has a lot of liquidity in it. The moment there’s a protocol that allows you to move liquidity cross chain trustlessly without the current long term bridging requirements i.e. something that acts as bandwidth rather than nostro/vostro, it’s getting drained until it’s useable again.

>> No.52386086

>>52385452
yeah, just like every alt that has a hard-limit capacity.
since then blocks now effectively max at 1.5-2mb and lightning took away most of the low-value txs off-chain.

payment channels are the exact solution because storing your coffee purchase and making it a core validation requirement *forever* is retarded and was known to be retarded back in 2011.

>> No.52386250

>>52386086
Payment channels can’t be the solution because they are the current problem… it’s the liquidity crisis in a nutshell.

I’m not compromising on trustlessness and frankly I think it’s retarded to try to replicate problematic legacy systems as a work around, it defeats the purpose of the tech

>> No.52386418

>>52386250
Like all the legacy systems are blocked up because the payment channels requiring trust are bloated with locked up liquidity like a giant turd in the colon … so the solution is to build even more payment channels requiring trust and let them bloat up with locked liquidity again…? But this time on bitcoin ? We gonna redo swift or ach? I don’t get the vision in redoing what we are trying to get away from

>> No.52386541

>>52386250
the whole point of lightning is it's a web of liquidity which prevents it being locked and inaccessible. a single "channel" can unlock large portions of liquidity from one "side" of the network to another.

you don't seem to actually understand how any of this works. par for the course for the midwit crowd, at least.

>> No.52386556
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52386556

>>52385545
Comfiest hold.

>> No.52386885

>>52386541
I’ve been in the space for 10 years and I actively develop , I’m willing to bet in much more experienced than you in this field, you read like a consumer.

The situation is either you don’t know about the several exploit schemes with the lightning network which means you lack the education to have this conversation, or you do know about them and you shill for a leaky system with trust issues because you believe it helps your speculative investment. Ignorance or disingenuous, which is it?

>> No.52386916

>>52383907
BTC will be fine. Despite the narratives that say it's dying out it is still dominant for things like paycheck direct deposits into crypto and i doubt that changes. BTC has a growing number of passionate devotees even though it only receives a miniscule amount of the markets hype these days.

>> No.52386971
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52386971

>>52383907
without the speculation bubble bitcoin is just an inferior digital payment system that's incredibly slow, offers no consumer protection, and has tons of extra steps

>> No.52386998

>>52383907
The same as the last decade. Retards will continue to leave their money on exchanges and be shocked when they lose it every 6 months.

>> No.52387049

>>52386971
>no consumer protection
How about having full control over it?
>tons of extra steps
I type and address, I click send, they get the bitcoin after a couple confirmations.

>> No.52387073
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52387073

Well for one, imagine making an internet money and then making the amounts and addresses of every transaction open for everyone to see. Are you fucking insane? Monero is the only correct step forward right now. That privacy base needs to be proper solid. Next, a proper way to scale big needs to be figured out. Only after that point, crypto is ready to take over the world before it's corrupted into uselessness. Our little temple is yet to be completed.

>> No.52387105

>>52386971
>no consumer protection
dude you serious? it’s unconfiscatable and you don’t need third party permission to spend it, that’s the best consumer protection

>> No.52387119

>>52387049
It works decently well whenever there is no traffic on the network, it’s just that if there is any traffic fees and transaction times get way too high and then LN is like free for attacks practically

>> No.52387168

>>52387049
>How about having full control over it?
ah yes, the schizo fallacy of having "full control"
no one is confiscating anyone's money, that's just a fantasy maxis like to jerk off to at night
the feds on the other hand are confiscating billions in bitcoin every month
but the real kicker is, when my real money gets stolen, I get it back
when your digital chuck-e-cheese token gets stolen you're shit out of luck

>> No.52387857

>>52385545
Litecoin with MWEB wallets could replace Zcash in that regard. Plus Litecoin's security is sort of secured due to the fact that Doge is merge-mined with LTC. I wonder how BTC, LTC and XMR will co-exist longterm.
>>52386086
How is Lightning adoption these days?

>> No.52387908
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52387908

>> No.52388857
File: 1.50 MB, 768x768, 1622997190235.gif [View same] [iqdb] [saucenao] [google]
52388857

>MUH FLIPPENING
stupid faggots kept buying eth and sniffing vitaliks gas.

>> No.52390153
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52390153

>>52387073
Privacy is enabled on Ethereum, through Railgun. Monero is not the only way through which transactions can be shielded from being visible on block explorers.

>> No.52390194
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52390194

>>52385545
>>52385545
>privacy focused coins will start to take the spotlight as an actual cryptocurrency.
Perhaps this is one of the most underrated financial advice

>> No.52390892

*laughs in bsv*
you don't know shit about bitcoin or its history, eat a bag of dicks op

>> No.52391724
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52391724

>>52390153
>Monero outdated.
Privacy in DeFi

>> No.52391768

>>52387857
What's your take on zksnarks-built smart contract protocols?