3 ms·

I find it pretty incredible how critical the responses regarding the technical feasibility were and how Satoshi Nakamoto had thought of every one of them alread

• lanternfish 3y ago
  It's also interesting that even though this is the case, many of the critiques have borne out anyway
  • EA-3167 3y ago
    Turns out the promise of lots and lots of money can numb a person's good sense, even if they really should know better.
  • Ferret7446 3y ago
    It's also interesting that Bitcoin still works despite said critiques. It still allows people to transfer funds digitally in a censorship resistant way. The only "failing" is that Bitcoin is not a stable long term investment (which wasn't its design goal to begin with).
    • lanternfish 3y ago
      It's also failing as a mechanism for efficient p2p small value transactions - as a currency. Consider, from the white paper (with regards to mediated digital transfers): ` The cost of mediation increases transaction costs, limiting the minimum practical transaction size and cutting off the possibility for small casual transactions, and there is a broader cost in the loss of ability to make non-reversible payments for non- reversible services. ` Nobody is doing 'small casual transactions' with Bitcoin, which was evidently one of the goals.
      • broth 3y ago
        > Nobody is doing 'small casual transactions' with Bitcoin, which was evidently one of the goals. That is not true and can be easily proven looking at the transactions on the blockchain. However, layer 2 solutions like Lightning are good for small value transactions since fees are low and fast.
• 1905 3y ago
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