4 ms·

It does not need to scale since people treat it as digital gold nowadays.

wespiser_2018 6y ago
Bitcoin is a really bad currency: it has pretty wild price fluctuations, and the transaction time for enough confirmations to be secure between two random parties takes a long time.
- hanniabu 6y ago
  It's a store of value, not a currency.
  - CyberDildonics 6y ago
    Based on what? Its only technical difference is intentionally hobbled throughput. How is it an advantage to have only a few kilobytes per second for the whole world?
CyberDildonics 6y ago
"digital gold" was a line that was made up when the people in charge refused to make the throughput more than a few kilobytes per second. It doesn't make any sense. Why would people use an illiquid currency when there are others that have the same advantages of being able to use money electronically except for actually being able to make cheap and fast transactions? If there was a version of gold that fluid and easy to transact with, people would use that instead gold. There is no reason for bitcoin to exist without transaction throughput except for speculation using IOUs from exchanges.
- hanniabu 6y ago
  > If there was a version of gold that fluid and easy to transact with, people would use that instead gold. Unless it was built on complex technology that most people don't understand. Hence comments like yours calling it a failure because there's still a stigma around it. Luckily the are others that have done their research and are investing heavily and helping build out the ecosystem.
  - CyberDildonics 6y ago
    First, I never called it a 'failure', that's something you hallucinated. Second, I never said there was a 'stigma' around it, that's also something you hallucinated. > Luckily the are others that have done their research and are investing heavily and helping build out the ecosystem. People who 'have done their research' say the same thing and people 'building out the ecosystem' aren't doing it with the one cryptocurrency that is purposely trying not to scale well. Ask me anything you want instead of the lazy rationalization of 'they just don't understand'. Some people have been involved before /r/bitcoin was taken over and turned into a propaganda machine to churn out people that actually buy into the 'digital gold' nonsense. You didn't actually confront anything I said at all, you just avoided it with a flimsy dismissal.

wespiser_2018 6y ago

Bitcoin is a really bad currency: it has pretty wild price fluctuations, and the transaction time for enough confirmations to be secure between two random parties takes a long time.

hanniabu 6y ago
It's a store of value, not a currency.
- CyberDildonics 6y ago
  Based on what? Its only technical difference is intentionally hobbled throughput. How is it an advantage to have only a few kilobytes per second for the whole world?

CyberDildonics 6y ago

"digital gold" was a line that was made up when the people in charge refused to make the throughput more than a few kilobytes per second. It doesn't make any sense. Why would people use an illiquid currency when there are others that have the same advantages of being able to use money electronically except for actually being able to make cheap and fast transactions? If there was a version of gold that fluid and easy to transact with, people would use that instead gold. There is no reason for bitcoin to exist without transaction throughput except for speculation using IOUs from exchanges.

hanniabu 6y ago
> If there was a version of gold that fluid and easy to transact with, people would use that instead gold. Unless it was built on complex technology that most people don't understand. Hence comments like yours calling it a failure because there's still a stigma around it. Luckily the are others that have done their research and are investing heavily and helping build out the ecosystem.
- CyberDildonics 6y ago
  First, I never called it a 'failure', that's something you hallucinated. Second, I never said there was a 'stigma' around it, that's also something you hallucinated. > Luckily the are others that have done their research and are investing heavily and helping build out the ecosystem. People who 'have done their research' say the same thing and people 'building out the ecosystem' aren't doing it with the one cryptocurrency that is purposely trying not to scale well. Ask me anything you want instead of the lazy rationalization of 'they just don't understand'. Some people have been involved before /r/bitcoin was taken over and turned into a propaganda machine to churn out people that actually buy into the 'digital gold' nonsense. You didn't actually confront anything I said at all, you just avoided it with a flimsy dismissal.