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No one who owns BTC wants it used for transactions. They want it to be an investment and go up forever, so they'll never go with a fork that allows it. It's lik

by pkulak 9y ago

No one who owns BTC wants it used for transactions. They want it to be an investment and go up forever, so they'll never go with a fork that allows it. It's like home owners in a neighborhood locking out new construction so their own homes raise in value.

tylersmith 9y ago
That's a pretty broad generalization. Many of us work very hard to make Bitcoin usable for day-to-day transactions.
- zaphar 9y ago
  Sometimes a broad generalization is generally applicable even if not always specifically applicable.
zbentley 9y ago
You know, that's quite insightful. HOAs (Home Owners' Associations) are also responsible for some pretty egregious local/municipal legislative blockage as well.
mikeash 9y ago
Seems like the miners have a strong incentive to keep the "supply" of transactions artificially limited too, since it results in sky-high transaction fees for them.
r00fus 9y ago
Those who want an appreciable asset own it, those who want transactions use it.
dawhizkid 9y ago
Of course Bitcoin is the digital crypto analogy for SF Bay Area NIMBYism :)
- Balgair 9y ago
  Christ, that's some deep snark!
QML 9y ago
But that was the original goal of Bitcoin — the paper states specifically transaxtions. I personally found it interesting when I bought shoes over Overstock via BTC earlier this year; only problem was my phone didn’t have a default QR scanner.
- t0mbstone 9y ago
  The original goal was to have transaction fees cover network processing costs, but anyone who does the math can quickly see that the number of transactions allowed by the current block size is an issue, and prevents bitcoin from scaling to visa/mastercard levels of usage. The reason why this flaw was accepted back then was because "space is cheap", and "we can always make the blocks bigger later". Basically, it was a known issue all along, and the plan all along was to evolve as needed. It was never intended to be a perfect solution from the get-go. The problem now, is that people are actively preventing bitcoin from evolving.
  - bb88 9y ago
    > The problem now, is that people are actively preventing bitcoin from evolving. So an 'evolving' BTC market is not a stable market. Doing something that increases the transaction speed is good, but doing something that changes the fundamental rules is not. If your income is based upon artificial scarcity, then you're going to be invested in keeping it that way.
SamPatt 9y ago
I own bitcoin (and have for nearly five years) and I want it to be spendable as a currency again.
daddosi 9y ago
It realy seems the libertarian utopia story the way non libertarians envision it. The main joke is satosi's people skills. A coin needs a community to launch it. It wil forever be asociated with it. Ponzi coin wil stay ponzi coin, porn coin wil stay porn coin etc
level09 9y ago
>they'll never go with a fork that allows it Actually, I think that people would race to buy BTC before any fork, in order to get free money. (that explains why BCH has that volume/market)

by pkulak 9y ago

tylersmith 9y ago

That's a pretty broad generalization. Many of us work very hard to make Bitcoin usable for day-to-day transactions.

zaphar 9y ago
Sometimes a broad generalization is generally applicable even if not always specifically applicable.

zbentley 9y ago

You know, that's quite insightful. HOAs (Home Owners' Associations) are also responsible for some pretty egregious local/municipal legislative blockage as well.

mikeash 9y ago

Seems like the miners have a strong incentive to keep the "supply" of transactions artificially limited too, since it results in sky-high transaction fees for them.

r00fus 9y ago

Those who want an appreciable asset own it, those who want transactions use it.

dawhizkid 9y ago

Of course Bitcoin is the digital crypto analogy for SF Bay Area NIMBYism :)

Balgair 9y ago
Christ, that's some deep snark!

QML 9y ago

But that was the original goal of Bitcoin — the paper states specifically transaxtions. I personally found it interesting when I bought shoes over Overstock via BTC earlier this year; only problem was my phone didn’t have a default QR scanner.

t0mbstone 9y ago
The original goal was to have transaction fees cover network processing costs, but anyone who does the math can quickly see that the number of transactions allowed by the current block size is an issue, and prevents bitcoin from scaling to visa/mastercard levels of usage. The reason why this flaw was accepted back then was because "space is cheap", and "we can always make the blocks bigger later". Basically, it was a known issue all along, and the plan all along was to evolve as needed. It was never intended to be a perfect solution from the get-go. The problem now, is that people are actively preventing bitcoin from evolving.
- bb88 9y ago
  > The problem now, is that people are actively preventing bitcoin from evolving. So an 'evolving' BTC market is not a stable market. Doing something that increases the transaction speed is good, but doing something that changes the fundamental rules is not. If your income is based upon artificial scarcity, then you're going to be invested in keeping it that way.

SamPatt 9y ago

I own bitcoin (and have for nearly five years) and I want it to be spendable as a currency again.

daddosi 9y ago

It realy seems the libertarian utopia story the way non libertarians envision it. The main joke is satosi's people skills. A coin needs a community to launch it. It wil forever be asociated with it. Ponzi coin wil stay ponzi coin, porn coin wil stay porn coin etc

level09 9y ago

>they'll never go with a fork that allows it Actually, I think that people would race to buy BTC before any fork, in order to get free money. (that explains why BCH has that volume/market)