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> Turns out it's way easier to port Bitcoin to Ethereum than to rebuild Ethereum on Bitcoin. Technically that might be the case but in the real world you have

> Turns out it's way easier to port Bitcoin to Ethereum than to rebuild Ethereum on Bitcoin. Technically that might be the case but in the real world you have network effects, inertia, and all kinds of other reason why it might be desirable to go in the other direction. The ease has to be examined from the perspective of the system as a whole and not just the one component.

kylebenzle 6y ago
The Bitcoin Core (BTC) market is pushed forward only by fraud (Tether) and lies (censorship of BitcoinTalk and r/Bitcoin). The Bitcoin Core project was hijacked and socially engineered away from the lead developers many years ago by Adam Back's Blockstream. Today it is a Ponzi scheme designed to push people onto their "second layer" solutions to "solve" the problems they themselves introduced.
- spicybright 6y ago
  Any hard evidence you can point to?
  - kylebenzle 6y ago
    Evidence that Tether is a fraud [1] and that BitcoinTalk and r/Bitcoin censor[2]? Yes, there is endless evidence of both. Funny that the truth about Bitcoin get downvoted so hard here, I thought HN liked to be objective about Crypto. [1] https://newrepublic.com/article/160905/tether-cryptocurrency-scam-enrich-bitcoin-investors https://newrepublic.com/article/160905/tether-cryptocurrency... [2] https://medium.com/@johnblocke/r-bitcoin-censorship-revisited-58d5b1bdcd64 https://medium.com/@johnblocke/r-bitcoin-censorship-revisite...
  - CyberDildonics 6y ago
    This isn't actually controversial for anyone who got interested in bitcoin before Gavin Andreesan was kicked out and /r/bitcoin was taken over and heavily propagandized. https://medium.com/@johnblocke/a-brief-and-incomplete-history-of-censorship-in-r-bitcoin-c85a290fe43 https://medium.com/@johnblocke/a-brief-and-incomplete-histor...
CyberDildonics 6y ago
Right now the average transaction on the bitcoin chain is almost $15. That's double the cost of the hard drive space to store the entire blockchain (if you really want to). No sane person would build on top of bitcoin or use anything built on top of bitcoin. It was taken over then redesigned to be a disaster and now it is.
- kylebenzle 6y ago
  You are exactly right. The Bitcoin Core GitHub repo was hijacked years ago by Greg Maxwell's and Adam Back's Blockstream. Until more people understand the history of Bitcoin Core (BTC) they will continue to be confused about the high fees and slow confirmation times. [1] https://medium.com/@johnblocke/r-bitcoin-censorship-revisited-58d5b1bdcd64 https://medium.com/@johnblocke/r-bitcoin-censorship-revisite... edit: looks like you are getting downvoted too for telling the truth about Bitcoin Core.
wmf 6y ago
Stacks doesn't inherit Bitcoin's network effects except for mining security. No existing Bitcoin wallets or exchanges can make Stacks transactions, while many Ethereum wallets are flexible enough to support arbitrary tokens or smart contracts.
- opreturn 6y ago
  > except for mining security where did you see that? I don't think their security model has any connection with Bitcoin mining. They are not merged-mining with bitcoin
  - hanniabu 6y ago
    I believe they're using checkpoints similar to the security service that komodo was offering to other chains.
    - jude- 6y ago
      The system selects one of a set of competing miners to produce the next block via a VRF whose state is recorded to Bitcoin OP_RETURNs. There is at most one Stacks block per Bitcoin block, and the probability of winning is proportional to the relative amount of BTC burnt or transferred. The system's design is well-documented via the SIP process. See https://github.com/stacksgov/sips https://github.com/stacksgov/sips (you'll want to read SIP-001 and SIP-007 in particular).

kylebenzle 6y ago

The Bitcoin Core (BTC) market is pushed forward only by fraud (Tether) and lies (censorship of BitcoinTalk and r/Bitcoin). The Bitcoin Core project was hijacked and socially engineered away from the lead developers many years ago by Adam Back's Blockstream. Today it is a Ponzi scheme designed to push people onto their "second layer" solutions to "solve" the problems they themselves introduced.

spicybright 6y ago
Any hard evidence you can point to?
- kylebenzle 6y ago
  Evidence that Tether is a fraud [1] and that BitcoinTalk and r/Bitcoin censor[2]? Yes, there is endless evidence of both. Funny that the truth about Bitcoin get downvoted so hard here, I thought HN liked to be objective about Crypto. [1] https://newrepublic.com/article/160905/tether-cryptocurrency-scam-enrich-bitcoin-investors https://newrepublic.com/article/160905/tether-cryptocurrency... [2] https://medium.com/@johnblocke/r-bitcoin-censorship-revisited-58d5b1bdcd64 https://medium.com/@johnblocke/r-bitcoin-censorship-revisite...
- CyberDildonics 6y ago
  This isn't actually controversial for anyone who got interested in bitcoin before Gavin Andreesan was kicked out and /r/bitcoin was taken over and heavily propagandized. https://medium.com/@johnblocke/a-brief-and-incomplete-history-of-censorship-in-r-bitcoin-c85a290fe43 https://medium.com/@johnblocke/a-brief-and-incomplete-histor...

CyberDildonics 6y ago

Right now the average transaction on the bitcoin chain is almost $15. That's double the cost of the hard drive space to store the entire blockchain (if you really want to). No sane person would build on top of bitcoin or use anything built on top of bitcoin. It was taken over then redesigned to be a disaster and now it is.

kylebenzle 6y ago
You are exactly right. The Bitcoin Core GitHub repo was hijacked years ago by Greg Maxwell's and Adam Back's Blockstream. Until more people understand the history of Bitcoin Core (BTC) they will continue to be confused about the high fees and slow confirmation times. [1] https://medium.com/@johnblocke/r-bitcoin-censorship-revisited-58d5b1bdcd64 https://medium.com/@johnblocke/r-bitcoin-censorship-revisite... edit: looks like you are getting downvoted too for telling the truth about Bitcoin Core.

wmf 6y ago

Stacks doesn't inherit Bitcoin's network effects except for mining security. No existing Bitcoin wallets or exchanges can make Stacks transactions, while many Ethereum wallets are flexible enough to support arbitrary tokens or smart contracts.

opreturn 6y ago
> except for mining security where did you see that? I don't think their security model has any connection with Bitcoin mining. They are not merged-mining with bitcoin
- hanniabu 6y ago
  I believe they're using checkpoints similar to the security service that komodo was offering to other chains.
  - jude- 6y ago
    The system selects one of a set of competing miners to produce the next block via a VRF whose state is recorded to Bitcoin OP_RETURNs. There is at most one Stacks block per Bitcoin block, and the probability of winning is proportional to the relative amount of BTC burnt or transferred. The system's design is well-documented via the SIP process. See https://github.com/stacksgov/sips https://github.com/stacksgov/sips (you'll want to read SIP-001 and SIP-007 in particular).