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There’s utility in Bitcoin but also massive scaling problems that haven’t been tackled yet. It has long term potential, but you have to separate that from the a
by camjohnson26 6y ago
There’s utility in Bitcoin but also massive scaling problems that haven’t been tackled yet. It has long term potential, but you have to separate that from the asset bubble that’s inflating everything these days. If you don’t see the parallels between bitcoin’s price and Tesla’s stock price you haven’t been paying attention to what’s happening in the economy.
Hope this illustrates that Tesla’s commitment to clean energy is shallow, and their real commitment is to easy to manipulate financial securities.
- gbersac 6y agoThe bitcoin lightning network address this issue. It already works, adoption is slowly increasing https://en.wikipedia.org/wiki/Lightning_Network https://en.wikipedia.org/wiki/Lightning_Network
- Leherenn 6y agoIt's something I don't really understand, doesn't Lightning scale by bypassing what makes bitcoin what it is: the proof of work and no trust system? It seems with Lightning you are back to having to check every transaction, and because it's painful, the trust mechanism is being centralised. It's seems to me we are almost back to square one then (though at least in theory you can control everything yourself and do not have to distribute the trust).
- RustyRussell 6y agoNo. It entirely relies on the guarantee that you can spend the Bitcoin transactions. Secure in that knowledge, it doesn't have to for every small transaction.