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If you want to be more precise, just tally up the total number of outputs then. It won't make bitcoin more efficient as a means of payment. > what's valuable a

If you want to be more precise, just tally up the total number of outputs then. It won't make bitcoin more efficient as a means of payment. > what's valuable about the observed system and its energy consumption, which is its decentralisation, censorship resistance, assurances, and trustlessness. The thing you need to understand is that nobody cares about this, except a small fringe of libertarians and computer scientists. Sure, it's cool that it's possible but not a single one of these would come up if you ask the man in the street (or your average economist in the street for that matter) what he wants from money. > Humble yourself and study Bitcoin I built a prediction market that used bitcoins in 2014, and ran a small but profitable crypto quant fund a few years later. I think crypto currencies are fun and there are one or two legitimate use cases, but the way you and other zealots look at bitcoin as a kind of panacea is just insane. Your fervour borders on a religious mania. In reality there is still almost nothing that crypto can do that anyone actually wants, and bitcoin is far from the best even at what it actually does. And no, the fact that the price of bitcoin is high does not indicate that people think it's useful. It's still a purely speculative asset, almost nobody uses it as a medium of exchange, and those who do are either criminals or zealots. Close to zero non-criminals use it because it solves an actual problem in the real world. Not saying this will never change, but that is where we are now, more than a decade later.

noch 6y ago
> The thing you need to understand is that nobody cares about this, Um. Don't be obtuse and obdurate. This conversation is getting really tedious. Look at the market, look around the world. Actually research the statements you make. There are already millions who care. > I built a prediction market that used bitcoins in 2014. You built on bitcoin yet you never understood how transactions work? That's deeply disturbing. Nonetheless, I sincerely wish you good luck. I respect your effort at building and sincerely hope you keep building winning products. The market will decide the victor. See you on the builder's battlefield. That's where all the action is. En garde! > the way you and other zealots look at bitcoin as a kind of panacea is just insane. Your fervour borders on a religious mania. P.S. I totally want Bitcoin to be declared a religion, if only for the possible tax advantage! Fun times. > not a single one of these would come up if you ask the man in the street (or your average economist in the street for that matter) what he wants from money. [sigh] If you asked them what they want they'd have said they want a faster horse, not a car. The purpose of travelling and talking to people is to discover their problems and pain-points not what they imagine the solutions are. The innovator then inserts a solution into the machine. > bitcoin is far from the best even at what it actually does. You keep making these vacuous statements yet you don't even have a grasp of what Bitcoin actually does because, apparently, what it does has no value to you. I mean, good for you. What you don't seem to realise is that your inability to look at reality looks like a religious mania. Now, respectfully, I have to bow out. Code to write, Bitcoin to build on.

noch 6y ago

> The thing you need to understand is that nobody cares about this, Um. Don't be obtuse and obdurate. This conversation is getting really tedious. Look at the market, look around the world. Actually research the statements you make. There are already millions who care. > I built a prediction market that used bitcoins in 2014. You built on bitcoin yet you never understood how transactions work? That's deeply disturbing. Nonetheless, I sincerely wish you good luck. I respect your effort at building and sincerely hope you keep building winning products. The market will decide the victor. See you on the builder's battlefield. That's where all the action is. En garde! > the way you and other zealots look at bitcoin as a kind of panacea is just insane. Your fervour borders on a religious mania. P.S. I totally want Bitcoin to be declared a religion, if only for the possible tax advantage! Fun times. > not a single one of these would come up if you ask the man in the street (or your average economist in the street for that matter) what he wants from money. [sigh] If you asked them what they want they'd have said they want a faster horse, not a car. The purpose of travelling and talking to people is to discover their problems and pain-points not what they imagine the solutions are. The innovator then inserts a solution into the machine. > bitcoin is far from the best even at what it actually does. You keep making these vacuous statements yet you don't even have a grasp of what Bitcoin actually does because, apparently, what it does has no value to you. I mean, good for you. What you don't seem to realise is that your inability to look at reality looks like a religious mania. Now, respectfully, I have to bow out. Code to write, Bitcoin to build on.