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Bitcoin won't die. Crypto will, and hopefully soon. The community here is so oblivious to the characteristics that make Bitcoin the best monetary system we coul

Bitcoin won't die. Crypto will, and hopefully soon. The community here is so oblivious to the characteristics that make Bitcoin the best monetary system we could have invented that I can only believe people haven't really thought things through. That's why we see these comparisons with Bitcoin and other cryptos. I am actually glad all this mess is happening so we can finally move on with all those crypto scams that want to confuse people by walking in the shadow of the true innovation.

ganksalot 4y ago
> The community here is so oblivious to the characteristics that make Bitcoin the best monetary system we could have invented that I can only believe people haven't really thought things through. is this satire?
- DJBunnies 4y ago
  No, it's true, this place has a difficult time seeing nuance between bitcoin and crypto.
  - Balgair 4y ago
    Ok, I'll bite. Give me the elevator pitch. I'm not in tech [0] so treat me as you would a grandmother. Average speaking speed is ~150 words/minute. Say the average elevator ride is ~30 seconds. So, in ~75 words, tell me what the nuance is as you would say to a grandmother? That fair? To be clear, I'm honestly not trying to be snarky. Sorry if it comes off that way. I can only multitask through this meeting so well. [0] I'm in biotech, so I can hang with you all and be a hacky programmer, but most in depth discussion go over my head.
    - rafaelero 4y ago
      Let me try. If you were to create the best monetary system, how would it be? The answer to that is a system with a policy that simply doesn't change. That's the best system because predictability is the only quality that matters when you are storing value. The best governments in the world try their best to achieve that, but they always fail. How then can we achieve that? With decentralization. That's a very expensive, inefficient and slow way to go about things. But it is all that matters if we want to build a sane monetary system, which doesn't allow anyone to change its emission rate. No "crypto" achieves that same trust we all have about the decentralized quality of Bitcoin. That's why they don't matter.
      - Balgair 4y ago
        thanks!
      - tromp 4y ago
        > which doesn't allow anyone to change its emission rate Bitcoin changes its emission rate every 4 years. A fixed emission rate is far more desirable. Something like 1 coin per second forever looks more attractive and immutable than bitcoin's arbitrary capped emission, that doesn't guarantee security in the long term when block subsidy runs out.
        rafaelero 4y ago
        No. The policy is set in stone. 100% predictable. That's what I am talking about; it doesn't matter if that policy implies a 4 year halving.
        tromp 4y ago
        The emission curve is set in stone. But you talked about emission rate, which in Bitcoin's case halves every 4 years.
drchopchop 4y ago
A blockchain that can barely manage seven transactions per second is the "best monetary system we could have invented"?
- rafaelero 4y ago
  Fedwire manages similar amount per second, yet it is the basis of the current monetary system. Can you use your head to think why and how?
boring_twenties 4y ago
Bitcoin has been obsolete since 2014 -- Monero is superior in every single way.
- tromp 4y ago
  It's not superior; it just makes different tradeoffs [1]. [1] https://phyro.github.io/grinvestigation/why_grin.html https://phyro.github.io/grinvestigation/why_grin.html
benlivengood 4y ago
I am always curious when I hear sentiments like this. Why is BCH better than BTC as a monetary system? Is it the historical choice of larger block sizes to support currency transactions or the relative stability in USD compared to BTC?
imtringued 4y ago
You appear to be confusing Bitcoin with RAI. RAI is a better currency than any other cryptocurrency and it is better than the vast majority of fiat currencies. It simply works. It offers extremely low volatility and is roughly comparable to the Swiss franc in how it performs over the long term.

ganksalot 4y ago

> The community here is so oblivious to the characteristics that make Bitcoin the best monetary system we could have invented that I can only believe people haven't really thought things through. is this satire?

DJBunnies 4y ago
No, it's true, this place has a difficult time seeing nuance between bitcoin and crypto.
- Balgair 4y ago
  Ok, I'll bite. Give me the elevator pitch. I'm not in tech [0] so treat me as you would a grandmother. Average speaking speed is ~150 words/minute. Say the average elevator ride is ~30 seconds. So, in ~75 words, tell me what the nuance is as you would say to a grandmother? That fair? To be clear, I'm honestly not trying to be snarky. Sorry if it comes off that way. I can only multitask through this meeting so well. [0] I'm in biotech, so I can hang with you all and be a hacky programmer, but most in depth discussion go over my head.
  - rafaelero 4y ago
    Let me try. If you were to create the best monetary system, how would it be? The answer to that is a system with a policy that simply doesn't change. That's the best system because predictability is the only quality that matters when you are storing value. The best governments in the world try their best to achieve that, but they always fail. How then can we achieve that? With decentralization. That's a very expensive, inefficient and slow way to go about things. But it is all that matters if we want to build a sane monetary system, which doesn't allow anyone to change its emission rate. No "crypto" achieves that same trust we all have about the decentralized quality of Bitcoin. That's why they don't matter.
    - Balgair 4y ago
      thanks!
    - tromp 4y ago
      > which doesn't allow anyone to change its emission rate Bitcoin changes its emission rate every 4 years. A fixed emission rate is far more desirable. Something like 1 coin per second forever looks more attractive and immutable than bitcoin's arbitrary capped emission, that doesn't guarantee security in the long term when block subsidy runs out.
      - rafaelero 4y ago
        No. The policy is set in stone. 100% predictable. That's what I am talking about; it doesn't matter if that policy implies a 4 year halving.
        tromp 4y ago
        The emission curve is set in stone. But you talked about emission rate, which in Bitcoin's case halves every 4 years.

drchopchop 4y ago

A blockchain that can barely manage seven transactions per second is the "best monetary system we could have invented"?

rafaelero 4y ago
Fedwire manages similar amount per second, yet it is the basis of the current monetary system. Can you use your head to think why and how?

boring_twenties 4y ago

Bitcoin has been obsolete since 2014 -- Monero is superior in every single way.

tromp 4y ago
It's not superior; it just makes different tradeoffs [1]. [1] https://phyro.github.io/grinvestigation/why_grin.html https://phyro.github.io/grinvestigation/why_grin.html

benlivengood 4y ago

I am always curious when I hear sentiments like this. Why is BCH better than BTC as a monetary system? Is it the historical choice of larger block sizes to support currency transactions or the relative stability in USD compared to BTC?

imtringued 4y ago

You appear to be confusing Bitcoin with RAI. RAI is a better currency than any other cryptocurrency and it is better than the vast majority of fiat currencies. It simply works. It offers extremely low volatility and is roughly comparable to the Swiss franc in how it performs over the long term.