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The Bitcoin community seems to have shifted the terminology away from currency to a digital asset or commodity. US regulators have classified it not as a curre
by nosuchthing 9y ago
The Bitcoin community seems to have shifted the terminology away from currency to a digital asset or commodity.
US regulators have classified it not as a currency, but as a commodity. https://www.bloomberg.com/news/articles/2015-09-17/bitcoin-is-officially-a-commodity-according-to-u-s-regulator https://www.bloomberg.com/news/articles/2015-09-17/bitcoin-i...
Side note, the talks of micropayments and currency use has shifted due to high fees and a paradoxical aversion to updating the network to reduce clogging.
- tfha 9y agoParadoxical aversion to upgrade the network much like California has a paradoxical aversion to increasing the speed limit to improve highway throughput. It's so strange to me... commutes would be much shorter if cars were allowed to drive 150, and your roads would be able to move more people per day, too.
- nosuchthing 9y agoYou've attempted to create a false equivalence here. Increasing bandwidth and reducing fees is trivial and would be user friendly. Dynamic blocksize and fees as implemented on Monereo [1] would be a good example of a dev community that can implement forward thinking designs without ideological constraints to exploit the user experience for the financial benefit of a minority. [1] https://monero.stackexchange.com/questions/4562/how-does-the-dynamic-blocksize-and-the-dynamic-fees-work-together-in-monero https://monero.stackexchange.com/questions/4562/how-does-the...
- tfha 9y agoNo, that's where you are mistaken. Block size is a security parameter.