3 ms·
At a larger scale of things given what Bitcoin just made possible and what it's trying to disrupt (decentralized, uncensored), Bitcoin is literally just 12 year
by asenna 6y ago
At a larger scale of things given what Bitcoin just made possible and what it's trying to disrupt (decentralized, uncensored), Bitcoin is literally just 12 years old and I feel these judgements are too harsh and too soon for something which is still yet to be adopted or even understood by 95% of the population. The benefits of Bitcoin can truly be appreciated or judged once the tech has been adopted in a relatively larger segment.
Even so, let's say Bitcoin is extremely inefficient and should just be abandoned as a failure (I'm of the opposite view though obviously), what's happening with Ethereum is far more interesting. I've been in the space for a while and the kinds of innovation that's happening on one layer on top of another - ALL on a soon-to-be efficient Proof-of-stake system is absolutely amazing.
I'm actually very surprised I don't see enough discussion and threads on HN regarding the various things happening at such a fast pace (DeFi, Dexes, NFTs, Layer-2 and Sidechains, Eth2 Validation and sharding, other interesting Dapp use-cases).
Given all of these developments, it would be fair to say at least on Ethereum that such "energy inefficient" narrative is soon going to be obsolete. I would love to hear Bill Gates' thoughts on the tech then.
Bill is the one that persued Warren Buffet and tried to get him onboard with Tech companies. I'm surprised it's Bill Gates that now needs someone to get him on board with this massive new emerging field.
- 01100011 6y ago> surprised I don't see enough discussion and threads on HN The fanboys ruined it. I think we all got sick of posts claiming blockchains will change everything. Blockchains and the things built on top of them are somewhat interesting, but unless there is something truly innovative in that space no one is going to want to repeat the same arguments we've been having here for like a decade.
- johndevor 6y agoCurious to know if any work on PoS is being done for Bitcoin.
- asenna 6y agoTo be honest, I'm curious to know about this as well! Haven't read anything on this but I wonder at times how is the core Bitcoin team looking at what's happening with PoS and deciding "Nope. This tech is good for 200 more years". I guess time will tell. The inability to move / be more versatile is the reason why Ethereum came to be in the first place. I guess Bitcoin's main USP is "You can be sure Bitcoin will be Bitcoin as you know it for a long time". Also there's one section of the community that thinks Bitcoin mining will actually help move to greener tech faster since it incentivizes you do so.
- villasv 6y ago> 12 years old > too soon In today's terms, a decade of existing but somewhat mediocre results means it's time to move on. It's already proven useful; at the same time, already proven non-disruptive/revolutionary.
- asenna 6y agoThat's actually why I said we should zoom out a little. Disrupting global financial monetary policies or Gold itself which has a timescale of thousands of years => 12 years is a very short time (in fact the first 5 years can be counted off as extremely experimental, not-serious for-nerds only thing).