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Uncensorable digital currencies are being used to facilitate illegal transactions, and amongs all the blockchains, only ONE of them started with the intention o

by NhanH 4y ago

Uncensorable digital currencies are being used to facilitate illegal transactions, and amongs all the blockchains, only ONE of them started with the intention of being a currency of some sort. Yes, there is a distinction between "blockchain" and "blockchain-based currency". Most of the other bullshit blockchain could not be used for that purpose. I'm pretty sure a lot of people dismissive of blockchain, even on HN, would agree that the world is probably a whole lot better if Bitcoin is the only blockchain exist. It is a bit unfortunate that technical issue might prevent bitcoin of ever be a functional currency, but that is a different topic.

pclmulqdq 4y ago
If you meant your argument about monero, it might make sense. As it stands, Bitcoin is total shit at facilitating illegal transactions.
- rvz 4y ago
  Not sure why you are downvoted but you are totally correct on that. If Bitcoin was being used for facilitating illegal transactions, why haven't many exchanges delisted it already, or banned Bitcoin entirely? Is that why $3.6B in Bitcoin was traced up and seized by the authorities and not Monero? [0] That explains why the scammers, criminals, etc are moving to use Monero instead of Bitcoin. Once that Bitcoin gets sent to an exchange, it is game over. [0] https://arstechnica.com/information-technology/2022/02/3-6-billion-bitcoin-seizure-shows-how-hard-it-is-to-launder-cryptocurrency https://arstechnica.com/information-technology/2022/02/3-6-b...
  - pclmulqdq 4y ago
    As far as I can tell, Bitcoin maximalists don't like hearing that they are betting the farm on an obsolete prototype.
Nursie 4y ago
Bitcoin maximalism like this is so ... pathetic. Other cryptocurrencies are either functionally identical or improve on bitcoin in some way. There is no difference. Just give up.
- jazzyjackson 4y ago
  decentralization (of nodes, not miners) liquidity (you can buy and sell a billion dollars if you want) upgradability (I once thought doge was just a fork of BTC, and i actually like its inflation characteristics, but was puzzled to find segwit and taproot were nowhere to be found on its roadmap)
  - randomhodler84 4y ago
    Yes all those things! Slightly out of date re doge! Dogecoin 0.21 roadmap has segwit and CSV. Check issue #1798 on Dogecoin GitHub. I look forward to using doge for atomic, subatomic swaps, Lightning payments, etc…
    - jazzyjackson 4y ago
      Thanks, that's all I was hoping for, doge over lightning. I like the culture of doge more, people seem to want to use it and not just stack them up for the apocalypse.
      - randomhodler84 4y ago
        Fair enough, I also like the doge community. It’s hyper positive. I’m happy to spend doge on beer and stack sats for the apocalypse.
  - Nursie 4y ago
    > decentralization (of nodes, not miners) Others are just as decentralised. They are smaller, sure, which makes for a difference in numbers of nodes, sure, but not some absolute quality which makes bitcoin work and others not. > liquidity Same. > upgradability (I once thought doge was ... Doge? Doge is a joke. Literally a joke. If you're surprised that something someone created to take piss out of the whole ecosystem hasn't kept up on changes, well, I don't even know what to say here. It's like saying you're suprised that you can't pay your taxes in disney dollars.

by NhanH 4y ago

pclmulqdq 4y ago

If you meant your argument about monero, it might make sense. As it stands, Bitcoin is total shit at facilitating illegal transactions.

rvz 4y ago
Not sure why you are downvoted but you are totally correct on that. If Bitcoin was being used for facilitating illegal transactions, why haven't many exchanges delisted it already, or banned Bitcoin entirely? Is that why $3.6B in Bitcoin was traced up and seized by the authorities and not Monero? [0] That explains why the scammers, criminals, etc are moving to use Monero instead of Bitcoin. Once that Bitcoin gets sent to an exchange, it is game over. [0] https://arstechnica.com/information-technology/2022/02/3-6-billion-bitcoin-seizure-shows-how-hard-it-is-to-launder-cryptocurrency https://arstechnica.com/information-technology/2022/02/3-6-b...
- pclmulqdq 4y ago
  As far as I can tell, Bitcoin maximalists don't like hearing that they are betting the farm on an obsolete prototype.

Nursie 4y ago

Bitcoin maximalism like this is so ... pathetic. Other cryptocurrencies are either functionally identical or improve on bitcoin in some way. There is no difference. Just give up.

jazzyjackson 4y ago
decentralization (of nodes, not miners) liquidity (you can buy and sell a billion dollars if you want) upgradability (I once thought doge was just a fork of BTC, and i actually like its inflation characteristics, but was puzzled to find segwit and taproot were nowhere to be found on its roadmap)
- randomhodler84 4y ago
  Yes all those things! Slightly out of date re doge! Dogecoin 0.21 roadmap has segwit and CSV. Check issue #1798 on Dogecoin GitHub. I look forward to using doge for atomic, subatomic swaps, Lightning payments, etc…
  - jazzyjackson 4y ago
    Thanks, that's all I was hoping for, doge over lightning. I like the culture of doge more, people seem to want to use it and not just stack them up for the apocalypse.
    - randomhodler84 4y ago
      Fair enough, I also like the doge community. It’s hyper positive. I’m happy to spend doge on beer and stack sats for the apocalypse.
- Nursie 4y ago
  > decentralization (of nodes, not miners) Others are just as decentralised. They are smaller, sure, which makes for a difference in numbers of nodes, sure, but not some absolute quality which makes bitcoin work and others not. > liquidity Same. > upgradability (I once thought doge was ... Doge? Doge is a joke. Literally a joke. If you're surprised that something someone created to take piss out of the whole ecosystem hasn't kept up on changes, well, I don't even know what to say here. It's like saying you're suprised that you can't pay your taxes in disney dollars.