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Is bitcoin new? It's been 15 years. What did Amazon accomplish in that time? Or Netflix?

sph 3y ago
What a silly, dishonest argument. Anyone can create incredible things with massive amounts of targeted money and investments. The entire economy of Bitcoin is not spent on its core developers to improve it. At this point I have to assume trolling if anything that hasn't reached global domination to be a failure. We are talking about a worldwide currency that is working against any law, government, bank. If it takes 50 years to reach maturity, is it a failure? Why is time taken to mature an important metric? Nothing is born in a vacuum, but builds upon what existed before. In any case, neither Amazon nor Netflix have global, unlimited reach like Bitcoin. So it makes your question even more silly.
- Eisenstein 3y ago
  What is dishonest is claiming that 'it needs time to get the bugs sorted' when it is a technology literally built on an ideology. The bugs are self-imposed and are never going to get 'sorted out' because they are foundational.
  - andirk 3y ago
    It's currently "sorted out" by the several layers deep you can choose to go: from more centralized and more easy to more decentralized and more complicated. One can lose paper money. No one out here is trying to solve that problem. Just put it in some shitty bank to avoid that issue, but the problem wasn't solved, just avoided.
    - Eisenstein 3y ago
      I am struggling to find a coherent point in what you have written.
      - andirk 3y ago
        Try this, Einstein: > The bugs are self-imposed I can send BTC to an address and it is there instantly. If you want to be more sure, wait until other nodes have confirmed. Even more safe? Wait for 6 blocks to be written after the one your transaction is on. It's up to you whether you want instant and less secure or wait a while and more secure. Does that make sense as far as coherence?
        Eisenstein 3y ago
        I'm don't know why you are being aggressively obtuse. I was talking about an ideological problem -- the fact that the 'bug' is that it is built on a libertarian fever dream which is nonsense, and it can never succeed because it espouses a flawed premise which it cannot abandon since it is baked into the code (deflationary money will never work). It is possible you are getting upset because you are having a completely different conversation than the one you joined.
        andirk 3y ago
        > I am struggling to find a coherent point in what you have written. Obtuse? Deflationary money hasn't been proven to not work. Set amount of tokens has its advantages over fiat that is printed infinitelt by the govt that issues it.
andirk 3y ago
Neither of those companies netted me several hundred thousand USD. And I rarely use either, either.
- deleted 3y ago
  [deleted]
RestlessMind 3y ago
Bitcoin's market cap is $519B as of right now. That seems like an incredible accomplishment. Market is literally voting with their money.

sph 3y ago

What a silly, dishonest argument. Anyone can create incredible things with massive amounts of targeted money and investments. The entire economy of Bitcoin is not spent on its core developers to improve it. At this point I have to assume trolling if anything that hasn't reached global domination to be a failure. We are talking about a worldwide currency that is working against any law, government, bank. If it takes 50 years to reach maturity, is it a failure? Why is time taken to mature an important metric? Nothing is born in a vacuum, but builds upon what existed before. In any case, neither Amazon nor Netflix have global, unlimited reach like Bitcoin. So it makes your question even more silly.

Eisenstein 3y ago
What is dishonest is claiming that 'it needs time to get the bugs sorted' when it is a technology literally built on an ideology. The bugs are self-imposed and are never going to get 'sorted out' because they are foundational.
- andirk 3y ago
  It's currently "sorted out" by the several layers deep you can choose to go: from more centralized and more easy to more decentralized and more complicated. One can lose paper money. No one out here is trying to solve that problem. Just put it in some shitty bank to avoid that issue, but the problem wasn't solved, just avoided.
  - Eisenstein 3y ago
    I am struggling to find a coherent point in what you have written.
    - andirk 3y ago
      Try this, Einstein: > The bugs are self-imposed I can send BTC to an address and it is there instantly. If you want to be more sure, wait until other nodes have confirmed. Even more safe? Wait for 6 blocks to be written after the one your transaction is on. It's up to you whether you want instant and less secure or wait a while and more secure. Does that make sense as far as coherence?
      - Eisenstein 3y ago
        I'm don't know why you are being aggressively obtuse. I was talking about an ideological problem -- the fact that the 'bug' is that it is built on a libertarian fever dream which is nonsense, and it can never succeed because it espouses a flawed premise which it cannot abandon since it is baked into the code (deflationary money will never work). It is possible you are getting upset because you are having a completely different conversation than the one you joined.
        andirk 3y ago
        > I am struggling to find a coherent point in what you have written. Obtuse? Deflationary money hasn't been proven to not work. Set amount of tokens has its advantages over fiat that is printed infinitelt by the govt that issues it.

andirk 3y ago

Neither of those companies netted me several hundred thousand USD. And I rarely use either, either.

deleted 3y ago
[deleted]

RestlessMind 3y ago

Bitcoin's market cap is $519B as of right now. That seems like an incredible accomplishment. Market is literally voting with their money.