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> It's a few stores which accept many forms of payment and a bunch of people who use a little bitcoin but not for anything vital. You clearly don't yet underst

> It's a few stores which accept many forms of payment and a bunch of people who use a little bitcoin but not for anything vital. You clearly don't yet understand Bitcoin. No, the network is all the people mining Bitcoin with ASIC's that create the security necessary to prevent double spends. Pretty much everything else you said is wrong. > If Apple, Google, Facebook, Amazon, PayPal, etc. launched a payment system it'd have more users than Bitcoin on the day it launched. Irrelevant, users don't create the security necessary to prevent doubles spends; miners do. Quite simply, you need to study more, you don't understand distributed crypto-currency yet. You think it's easy to replace bitcoin with an alt coin, you have no idea what you're talking about.

acdha 13y ago
> Pretty much everything else you said is wrong. and yet you're unable to explain why, although you can repeat the same insult repeatedly in the hopes that repetition will make it true. Telling…
- gnaritas 13y ago
  I didn't insult you anywhere and I did tell you why you were wrong; you have a misunderstanding of where the value comes from and you need to learn what makes a coin secure.
  - acdha 13y ago
    You went off on a pedantic tangent: from the perspective of anyone interested in using a payment system, the network they care about is the network of people who they can exchange things with. What you're talking about is like arguing that people use US currency because of the special paper used to print dollars – it's an important implementation detail but not something a normal user thinks much about. Whether it's something like Bitcoin's distributed ledger, trusted third parties or a central record keeping system just isn't a detail the average user cares about as long as they can buy a cup of coffee when they want to. If something shiny comes along, the only questions will be “how much will it cost?” and “who accepts it?” This brings up two areas where Bitcoin's system is a threat to its growth: the huge blockchain increasingly stymies mobile or poorly connected participants and the requirement that miners acknowledge transactions adds latency to the transaction time which will be a challenge for speed-oriented businesses.
    - gnaritas 13y ago
      > from the perspective of anyone interested in using a payment system, the network they care about is the network of people who they can exchange things with No it isn't; the network they must care about is the network that actually works and allows them to securely exchange things. > What you're talking about is like arguing that people use US currency because of the special paper used to print dollars If you think that's like what I'm saying then you aren't listening to what I'm saying. > Whether it's something like Bitcoin's distributed ledger, trusted third parties or a central record keeping system just isn't a detail the average user cares about as long as they can buy a cup of coffee when they want to. Which they can't do unless the network is secure and double spends aren't possible. And we're not talking about a cup of coffee, we're talking about an Internet payment protocol for transferring wealth trustlessly online. > This brings up two areas where Bitcoin's system is a threat to its growth: the huge blockchain increasingly stymies mobile or poorly connected participants Red herring, you don't need to download the blockchain to use the currency. > and the requirement that miners acknowledge transactions adds latency to the transaction time which will be a challenge for speed-oriented businesses Bitcoin isn't built for speed-oriented businesses, it's built for Internet commerce. That it doesn't suit a domain it's not intended for really doesn't matter.

acdha 13y ago

> Pretty much everything else you said is wrong. and yet you're unable to explain why, although you can repeat the same insult repeatedly in the hopes that repetition will make it true. Telling…

gnaritas 13y ago
I didn't insult you anywhere and I did tell you why you were wrong; you have a misunderstanding of where the value comes from and you need to learn what makes a coin secure.
- acdha 13y ago
  You went off on a pedantic tangent: from the perspective of anyone interested in using a payment system, the network they care about is the network of people who they can exchange things with. What you're talking about is like arguing that people use US currency because of the special paper used to print dollars – it's an important implementation detail but not something a normal user thinks much about. Whether it's something like Bitcoin's distributed ledger, trusted third parties or a central record keeping system just isn't a detail the average user cares about as long as they can buy a cup of coffee when they want to. If something shiny comes along, the only questions will be “how much will it cost?” and “who accepts it?” This brings up two areas where Bitcoin's system is a threat to its growth: the huge blockchain increasingly stymies mobile or poorly connected participants and the requirement that miners acknowledge transactions adds latency to the transaction time which will be a challenge for speed-oriented businesses.
  - gnaritas 13y ago
    > from the perspective of anyone interested in using a payment system, the network they care about is the network of people who they can exchange things with No it isn't; the network they must care about is the network that actually works and allows them to securely exchange things. > What you're talking about is like arguing that people use US currency because of the special paper used to print dollars If you think that's like what I'm saying then you aren't listening to what I'm saying. > Whether it's something like Bitcoin's distributed ledger, trusted third parties or a central record keeping system just isn't a detail the average user cares about as long as they can buy a cup of coffee when they want to. Which they can't do unless the network is secure and double spends aren't possible. And we're not talking about a cup of coffee, we're talking about an Internet payment protocol for transferring wealth trustlessly online. > This brings up two areas where Bitcoin's system is a threat to its growth: the huge blockchain increasingly stymies mobile or poorly connected participants Red herring, you don't need to download the blockchain to use the currency. > and the requirement that miners acknowledge transactions adds latency to the transaction time which will be a challenge for speed-oriented businesses Bitcoin isn't built for speed-oriented businesses, it's built for Internet commerce. That it doesn't suit a domain it's not intended for really doesn't matter.