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What’s the argument for using L2 networks on top of Bitcoin instead of simply using one of the other cryptocurrencies that was designed from the start to handle
by PragmaticPulp 6y ago
What’s the argument for using L2 networks on top of Bitcoin instead of simply using one of the other cryptocurrencies that was designed from the start to handle transaction volume?
Why do we need a separate currency for sending money around anyway?
- moralsupply 6y agoThe argument is that Bitcoin work very well as a store of value, and is proven (10+ years in operation with little-to-no incidents, despite a huge amount of attempts to attack the network). It doesn't need to be "perfect" in every front. L2 solutions still transact the same tokens as their L1 counterparts. Other solutions may potentially be "better" technically, but that doesn't mean they are proven in the long run, and the on-ramp, corporate, etc. infrastructure is not in place for them.
- jcranmer 6y ago> (10+ years in operation with little-to-no incidents, despite a huge amount of attempts to attack the network). Shame about all of those hundreds of millions of dollars worth of Bitcoin that have been stolen. Come to think of it, while I haven't crunched the statistics, it wouldn't surprise me if your money were more likely to be stolen if you kept it in Bitcoin than a boring bank account.
- moralsupply 6y agoIs that because of the Bitcoin protocol or because people are dumb and lost their coins?
- jiveturkey 6y agodoes it matter?