3 ms·

What's the point of Bitcoin if it has to play by the same rules as other asset classes? It's supposed to be resilient against attempts to control it.

brazzy 5y ago
It's supposed to be a lot of things it is not.
- hungryforcodes 5y ago
  Such as? It was started as an experiment -- I think it's been an insanely successful experiment. Don't be pedantic here and claim it was supposed to be some kind of money, but it's not. It's much more than that now, and in inspiring Etherium and all the other new paradigms, it's totally changed alot of people's thinking.
  - flatline 5y ago
    The bitcoin whitepaper puts forth some pretty clear ideological statements. Similar things had been tried before, this was the first successful, widespread attempt. I would hesitate to call it "experimental".
  - mdoms 5y ago
    > Don't be pedantic here and claim it was supposed to be some kind of money, but it's not From the Bitcoin whitepaper, page 1 paragraph 1 sentence 1 > A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution What universe do you people live in?
    - thebean11 5y ago
      Sure, that's true but is it a useful take? It's like criticizing a company for pivoting from it's S-1.
      - mdoms 5y ago
        If it's not useful for money what use is it? Other than a Ponzi scheme.
        thebean11 5y ago
        Transferring large sums cheaply without either party needing bank accounts, speculation, inflation/"doomsday" hedging, private transactions (public, but not necessarily tied to your identity), smart contracts (escrowed transactions for example).
  - loceng 5y ago
    You might call me pedantic as well, however I would argue that your definition of successful differs from others; it certainly is insane though, greed as a leading metric tends that way.
bondarchuk 5y ago
Well none of this has any effect on the bitcoin network now does it? What's being controlled is subway ad-space and perhaps people's ability to transact with fiat (in order to exchange it for bitcoin).
- uncletammy 5y ago
  > Well none of this has any effect on the bitcoin network now does it? After having been stripped of most of the functionality that gave BTC it's original value proposition, you might be surprised at the degree to which it really does need ads like this to attract fresh investors. BTC killed it's most powerful tool for cementing it's position as the leading cryptocurrency, it's network effect. They killed it by merging "full replace by fee", making it trivial to cheat bitcoin-accepting merchants during times of higher network congestion. This made it even super risky for merchants and many opted out. They even had a much safer alternative (FSS-RBF) ready to merge. * https://github.com/bitcoin/bitcoin/pull/6352 https://github.com/bitcoin/bitcoin/pull/6352 * https://blog.plan99.net/replace-by-fee-43edd9a1dd6d https://blog.plan99.net/replace-by-fee-43edd9a1dd6d They killed it by using the size of OP_RETURN to gaslight Counterparty, a company that was trying to build a rich smart contract ecosystem (yeah like Ethereum has now) on top of bitcoin. This was the second time the core devs' hatred of smart contracts killed new use cases for the coin. The first time led Vitalik to create Ethereum. *https://old.reddit.com/r/decred/comments/6wxueo/your_best_pitch_for_decred/dmcerna/ https://old.reddit.com/r/decred/comments/6wxueo/your_best_pi... They killed it by blanket censoring on all the big bitcoin related communication channels all discussion about increasing the blocksize and/or building/supporting alternative BTC full nodes. This censorship completely fractured the community and directly led to the network fork called Bitcoin Cash. As a result of this fork, many of the oldest supporters and infrastructure devs left BTC forever. * https://medium.com/@johnblocke/a-brief-and-incomplete-history-of-censorship-in-r-bitcoin-c85a290fe43 https://medium.com/@johnblocke/a-brief-and-incomplete-histor...
lupire 5y ago
If it wants to live outside the system, it can't make itself visible inside the system. A legal corporation selling Bitcoin isn't outside the system.

brazzy 5y ago

It's supposed to be a lot of things it is not.

hungryforcodes 5y ago
Such as? It was started as an experiment -- I think it's been an insanely successful experiment. Don't be pedantic here and claim it was supposed to be some kind of money, but it's not. It's much more than that now, and in inspiring Etherium and all the other new paradigms, it's totally changed alot of people's thinking.
- flatline 5y ago
  The bitcoin whitepaper puts forth some pretty clear ideological statements. Similar things had been tried before, this was the first successful, widespread attempt. I would hesitate to call it "experimental".
- mdoms 5y ago
  > Don't be pedantic here and claim it was supposed to be some kind of money, but it's not From the Bitcoin whitepaper, page 1 paragraph 1 sentence 1 > A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution What universe do you people live in?
  - thebean11 5y ago
    Sure, that's true but is it a useful take? It's like criticizing a company for pivoting from it's S-1.
    - mdoms 5y ago
      If it's not useful for money what use is it? Other than a Ponzi scheme.
      - thebean11 5y ago
        Transferring large sums cheaply without either party needing bank accounts, speculation, inflation/"doomsday" hedging, private transactions (public, but not necessarily tied to your identity), smart contracts (escrowed transactions for example).
- loceng 5y ago
  You might call me pedantic as well, however I would argue that your definition of successful differs from others; it certainly is insane though, greed as a leading metric tends that way.

bondarchuk 5y ago

Well none of this has any effect on the bitcoin network now does it? What's being controlled is subway ad-space and perhaps people's ability to transact with fiat (in order to exchange it for bitcoin).

uncletammy 5y ago
> Well none of this has any effect on the bitcoin network now does it? After having been stripped of most of the functionality that gave BTC it's original value proposition, you might be surprised at the degree to which it really does need ads like this to attract fresh investors. BTC killed it's most powerful tool for cementing it's position as the leading cryptocurrency, it's network effect. They killed it by merging "full replace by fee", making it trivial to cheat bitcoin-accepting merchants during times of higher network congestion. This made it even super risky for merchants and many opted out. They even had a much safer alternative (FSS-RBF) ready to merge. * https://github.com/bitcoin/bitcoin/pull/6352 https://github.com/bitcoin/bitcoin/pull/6352 * https://blog.plan99.net/replace-by-fee-43edd9a1dd6d https://blog.plan99.net/replace-by-fee-43edd9a1dd6d They killed it by using the size of OP_RETURN to gaslight Counterparty, a company that was trying to build a rich smart contract ecosystem (yeah like Ethereum has now) on top of bitcoin. This was the second time the core devs' hatred of smart contracts killed new use cases for the coin. The first time led Vitalik to create Ethereum. *https://old.reddit.com/r/decred/comments/6wxueo/your_best_pitch_for_decred/dmcerna/ https://old.reddit.com/r/decred/comments/6wxueo/your_best_pi... They killed it by blanket censoring on all the big bitcoin related communication channels all discussion about increasing the blocksize and/or building/supporting alternative BTC full nodes. This censorship completely fractured the community and directly led to the network fork called Bitcoin Cash. As a result of this fork, many of the oldest supporters and infrastructure devs left BTC forever. * https://medium.com/@johnblocke/a-brief-and-incomplete-history-of-censorship-in-r-bitcoin-c85a290fe43 https://medium.com/@johnblocke/a-brief-and-incomplete-histor...

lupire 5y ago

If it wants to live outside the system, it can't make itself visible inside the system. A legal corporation selling Bitcoin isn't outside the system.