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The internet didn't really take off until the web, but once the web was there it completely exploded from there on out. Comparing to the web makes bitcoin look

The internet didn't really take off until the web, but once the web was there it completely exploded from there on out. Comparing to the web makes bitcoin look pathetic scratching around for a problem for its solution over a decade later. If you're all about Second layer scaling, why not just use existing second layers like VISA? If you're transacting via a trusted second layer to provide scaling, you might as well have that as a layer over the dollar, or gold, or other stable asset.

SkyMarshal 4y ago
The web is the wrong analogy/comparison for Bitcoin. Bitcoin was never designed or intended to be anything like the web. It was designed to be a money and payments system, no more no less. If you must compare it to anything, compare it to dollars, euro, yen, gold coins, etc. You may be thinking of Ethereum and any other “crypto” claiming to be “Web 3”, where they want to store and run entire websites on their distributed database. But that’s not Bitcoin.
- xnorswap 4y ago
  I'm not the one making the comparison, it's people going around touting that you should invest because "it's like the early internet, it'll be everywhere soon and worth trillions".
whatisweb3 4y ago
Rollups have a few properties that are distinct from a centralized VISA system. One is that they are cryptographically verifiable, with this data posted onto Ethereum. Another is that they often include permissionless traits - such as L1 smart contract calls that allow users to “force” transactions from L1 to L2 and back even if the centralized sequencer is trying to censor or block the user’s transaction. In this way, you can always withdraw from a rollup L2 back to Ethereum just by signing with your key. This goes in hand with forkability - lots of rollups are open source - and composability. You can withdraw your L2 tokens back to L1, and put them in another rollup. If VISA or PayPal blocks your account, you are stuck.

SkyMarshal 4y ago

The web is the wrong analogy/comparison for Bitcoin. Bitcoin was never designed or intended to be anything like the web. It was designed to be a money and payments system, no more no less. If you must compare it to anything, compare it to dollars, euro, yen, gold coins, etc. You may be thinking of Ethereum and any other “crypto” claiming to be “Web 3”, where they want to store and run entire websites on their distributed database. But that’s not Bitcoin.

xnorswap 4y ago
I'm not the one making the comparison, it's people going around touting that you should invest because "it's like the early internet, it'll be everywhere soon and worth trillions".

whatisweb3 4y ago

Rollups have a few properties that are distinct from a centralized VISA system. One is that they are cryptographically verifiable, with this data posted onto Ethereum. Another is that they often include permissionless traits - such as L1 smart contract calls that allow users to “force” transactions from L1 to L2 and back even if the centralized sequencer is trying to censor or block the user’s transaction. In this way, you can always withdraw from a rollup L2 back to Ethereum just by signing with your key. This goes in hand with forkability - lots of rollups are open source - and composability. You can withdraw your L2 tokens back to L1, and put them in another rollup. If VISA or PayPal blocks your account, you are stuck.