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This is very straight forward in that the blockchain was invented by Satoshi Nakamoto to solve the Byzantine General's Problem, double-spending, and a decentral
by BTCOG 6y ago
This is very straight forward in that the blockchain was invented by Satoshi Nakamoto to solve the Byzantine General's Problem, double-spending, and a decentralized ledger. We can go much deeper into what Bitcoin can do, but all other chains wishing to do other things this guy mentions always were a cheap piggy back on Bitcoin.
I'm here to tell you Bitcoin works, and does not need anything else. Bitcoin is not slow like many folks will tell you all day long, either. Bitcoin does not have high fees, either. Bitcoin is very sound "money," and not a great currency. If someone wishes to transfer money to someone else anywhere in the world, they simply tailor their fee to be low, and they send it for 40-60 cents and understand that it will confirm over the next day. (Yes, the mempool surges during times of heavy use, and yes it may take a little while longer, but just the same, millions of dollars can be sent with no third party for under $1 fee)
The time itself for this does not really matter, as this could never be done prior to Bitcoin. Ask those sending money home to the Philippines or folks who are unbanked how many days a wire transfer takes, and how many third parties take a massive chunk in fees. Nobody controls your money in Bitcoin, and nobody takes a fee. (Nobody is taking your money from a BTC fee, the paltry amount is paying into the system to keep the miners mining)
It's nothing else beyond this, and nothing else is needed.
Anyone can argue about this endlessly but Bitcoin solved it's problem it was designed for, and all else is just garbage tacked on by other people trying to strike it rich.
I have used Bitcoin regularly since 2011. I have purchased real, legal goods from folks in other countries over forums in escrow that could not be done otherwise without incurring very large fees. I've paid 30 people simultaneously with one multisend transaction, and one fee.
Everything else is irrelevant. Bitcoin is revolutionary. Just Bitcoin. It works and it works very well. You can continue to beat around the bush and apply fetishism all day, and Bitcoin still works the way it was intended.