3 ms·

Bitcoin is an open source protocol. Open, neutral, accessible to everyone, decentralised, censorship resistant etc. Every other crypto project is a product/ser

Bitcoin is an open source protocol. Open, neutral, accessible to everyone, decentralised, censorship resistant etc. Every other crypto project is a product/service created by a company or "foundation". There's a business plan (i.e. pump and dump), CEO, marketing team, PR etc. Think of it as the difference between TCP/IP as the base layer protocol for the Internet vs. all the dot com companies/services that have come and gone over the years... except many of those dot com companies actually provided useful services to people. Bitcoin is more akin to TCP/IP, whereas crypto is more like those dot com companies, except crypto doesn't provide anything useful to anyone, except shitcoin founders who need retail investors to pump and dump on as exit liquidity. That's the difference.

_heimdall 3y ago
Bitcoin has been effectively run by a company since they bitcoin gold fork. Not even to say that's a bad thing, but the network was being guided by a company set on limiting bitcoin throughout while building the L2 lightning network to solve that problem outside the bitcoin protocol > Bitcoin is more akin to TCP/IP, whereas crypto is more like those dot com companies, except crypto doesn't provide anything useful to anyone, When you say crypto here do you mean cryptography, cryptocurrencies, or a subset of smart contract based projects? All currencies, whether bitcoin, shitcoins, or USD are ultimately pump and dump schemes the all meet the technical definition of a Ponzi scheme
- Quindecillion 3y ago
  > the network was being guided by a company set on limiting bitcoin throughout while building the L2 lightning network to solve that problem outside the bitcoin protocol What company are you talking about exactly? > When you say crypto here do you mean cryptography, cryptocurrencies, or a subset of smart contract based projects? Now you're just being obtuse. I'm obviously not talking about cryptography. > All currencies, whether bitcoin, shitcoins, or USD are ultimately pump and dump schemes the all meet the technical definition of a Ponzi scheme Yes, money is based mostly on trust. I trust Bitcoin's monetary policy more than any other, and for good reason.
  - _heimdall 3y ago
    > What company are you talking about exactly? Lightning Labs. The founders were heavily involved in the debate over increasing block size that led to a hard fork. I have no idea if they honestly thought the network Das better off with a smaller block size, but after successfully fending off a block size increase they created a company to develop a lightning network implementation. > Now you're just being obtuse. I'm obviously not talking about cryptography. That doesn't actually answer the question. Are you referring to cryptocurrencies as a whole lot a subset of smart contract protocols?

_heimdall 3y ago

Bitcoin has been effectively run by a company since they bitcoin gold fork. Not even to say that's a bad thing, but the network was being guided by a company set on limiting bitcoin throughout while building the L2 lightning network to solve that problem outside the bitcoin protocol > Bitcoin is more akin to TCP/IP, whereas crypto is more like those dot com companies, except crypto doesn't provide anything useful to anyone, When you say crypto here do you mean cryptography, cryptocurrencies, or a subset of smart contract based projects? All currencies, whether bitcoin, shitcoins, or USD are ultimately pump and dump schemes the all meet the technical definition of a Ponzi scheme

Quindecillion 3y ago
> the network was being guided by a company set on limiting bitcoin throughout while building the L2 lightning network to solve that problem outside the bitcoin protocol What company are you talking about exactly? > When you say crypto here do you mean cryptography, cryptocurrencies, or a subset of smart contract based projects? Now you're just being obtuse. I'm obviously not talking about cryptography. > All currencies, whether bitcoin, shitcoins, or USD are ultimately pump and dump schemes the all meet the technical definition of a Ponzi scheme Yes, money is based mostly on trust. I trust Bitcoin's monetary policy more than any other, and for good reason.
- _heimdall 3y ago
  > What company are you talking about exactly? Lightning Labs. The founders were heavily involved in the debate over increasing block size that led to a hard fork. I have no idea if they honestly thought the network Das better off with a smaller block size, but after successfully fending off a block size increase they created a company to develop a lightning network implementation. > Now you're just being obtuse. I'm obviously not talking about cryptography. That doesn't actually answer the question. Are you referring to cryptocurrencies as a whole lot a subset of smart contract protocols?