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> Bitcoin does not represent choice Why not? Anyone can use bitcoin for anything they want. And any other cryptocurrency can compete with bitcoin if they want
by billytetrud 5y ago
> Bitcoin does not represent choice
Why not? Anyone can use bitcoin for anything they want. And any other cryptocurrency can compete with bitcoin if they want (and clearly many try). Seems we have plenty of choice in the market at the cryptocurrency moment.
The difference is that in Bitcoin land, people cooperate to build standards. In Ethereum, far fewer standards are created, and instead people just build whatever Ethereum based project they want and try to sell that. So yes, there are more choice, but the quality of those choices is a lot lower. For example, in Bitcoin there's one lightning network standard, and many wallets that implement that stanrdard. By contrast there's a ton of layer 2 networks on Ethereum and none of them interoperate and each one has a single implementation (generally).
> nobody likes watchtowers
The number of bitcoin lightning nodes has been constantly growing since its inception, and pretty much every metric is at an all time high: https://bitcoinvisuals.com/lightning https://bitcoinvisuals.com/lightning . So .. I think you're not correct there.
- vmception 5y agoThere are many standards on Ethereum. There are also many people building their own things to try and extract value for themselves. Bitcoin has some obscure things besides lightning due to the permissionless nature as well, but the limitations come from the block space and the smaller set of operations allowed The comparison about what the market chose comes from TVL and volume metrics. see www.defipulse.com which also includes lightning
- Ar-Curunir 5y agoDecentralized cryptocurrency tech is in its infancy. Just like you wouldn't standardize on programming languages in the 50s, it makes no sense to already talk about standardizing things that are under active research.