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I don't think “Bitcoin 2.0” means what you think it means.
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Bitcoin is a strong name, easy to remember, and it's something people can pronounce no matter what country they come from.
As someone with English as second language, I disagree. |
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Iluminati-Coin
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The problem of ever-growing blockchain is a common knowledge. I don't see a point to add anything to the description. If you want a solution, the problem must be specific. You can't rely on common knowledge to propose a solution, because although it's common, it might be understood differently by each person. And then conflicts emerge. |
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He wants you to clearly identify the issue and an analysis as to why it is a issue.
The problem is well-known, no need to waste bytes and repeat the same words. You link to a blog where they state they are already working on a solution, yet you still complain nobody thinks on a solution. Also, it's not “wasting bytes”, it's giving references to your claims. |
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Sure; let's say you're in a 'we take bitcoin' coffee shop, and they charge 700 bits for a coffee. Would get confused and think it costs 700 btc?
Think of the average consumer here, not the crypto-electro-engineer in her microcomputer lab.
If someone charged me 700 bits for a coffee... I would ask them to repeat the price again. Also, why do you think cryptoelectroengineers(?) are the only ones who can grasp the SI system? |
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The problem is that it will be forgotten as a funny anecdote (at least for people who are not supporting Bitcoin right now).
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I'm guessing you don't genuinely find 1 btc = 1,000,000 bits 'ridiculously confusing'.
As a matter of fact, I do. The logical meaning would be “bits” = “bitcoins”. Just an abbreviation. Using a very similar word to mean something orders of magnitude smaller is very confusing, at least for me. |
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for trading, gambling etc. I use onchain
for invest in long time, i use offchain
Same Shouldn't it be the inverse? |
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Wait? Who's giving Bitcoins to whom in this idea? I'm lost there.
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Of course it does, because you show yourself as an arrogant person, and with that attitude people will be less likely to help.
What post sounds arrogant? Good old BitcoinTalk... Ok, I'll come back when we cross 30 GB mark, maybe you'll have a solution by that time.
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Once again, I don't see you proposing any solution to this objective problem.
Does it change anything? Of course it does, because you show yourself as an arrogant person, and with that attitude people will be less likely to help. |
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Regardless of your feelings on the evil of fractional reserve banking and central banks, FRB will be implemented with Bitcoin, as long as it is legal. When Bitcoin FRB is put into place, a central bank will be necessary. The central bank will not be able to print money, but it will control Bitcoin bank reserves, and so it will have some limited power to manipulate inflation/deflation.
You can whine about how it goes against the spirit of Bitcoin or how it violates the wishes of our Lord Satoshi, but I feel that it is a certainty unless laws are enacted to prevent it.
If a central bank was not able to print money then how on earth do you think it could create a fractional reserve currency? The only way to create a fractional reserve on top of bitcoin is to create a new token layer atop bitcoin, these tokens are issued (printed) or withdrawn (destroyed) by the central bank. Giving it lots of power to control inflation/deflation. That's not how FRB works. Yes it is.  FRB creates new money out of thin air every time a new loan is created.In asset backed FRB: If FRB bank has 100 real units of assets to back the FRB then it is "allowed" to issue up to 1000 certificates for unit assets. The term "run on the bank" means everyone goes to redeem the certificates at once. That would be a problem because 90% of those certificates are just printed bullshit. The fraudulent activity is said to be "needed" as a way to control inflation/deflation, but that excuse is a crock of shit, it's only needed to financially rape the citizens. Yes, but your definition does not match your previous scenario. You can give FRB money without printing a single cent: you just say you have all people's money and have everybody believe you. This can be done with Bitcoin in theory, but I hope we don't fall there. |
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Sorry if it wasn't clear enough. The point of this thread is to get a solution to a problem that exists objectively. Not to argue with those who don't agree that the problem does exist.
Once again, I don't see you proposing any solution to this objective problem. |
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Good old BitcoinTalk... Ok, I'll come back when we cross 30 GB mark, maybe you'll have a solution by that time.
You say that as if we're obliged to comply with you. Why don't you come up with something instead of complaining? |
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If you were waiting to the moon, then you were doing it wrong in the first place.
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Bitcoin looks to slap New York with reality check. Bitcoin is sovereign, New York is not.
BTCitcoin takes too long. No one wants to wait behind someone with a paper wallet. especially when all they have to do is slide their card That's similar to paying with a check. Why would you pay for your hot dog with a check? |
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The fact that it is deliberately called “Ponzi” makes me doubt whether you are being cynical or sarcastic.
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Bad. I hoped more than some whale had cashed out during the " falling" of price...
I think that unfair distribution of wealth is the biggest flaw of btc design.
This is not about BTC design, but about the very nature of money and capitalism. Even if the initial distribution was made in such a way that everyone started with the same amount, it would eventually return back to a few people. Right, the capital distribution in the world is only slightly different because of government control, so that the poor are not too poor. But since there is no control for the bitcoin world, the poor will be extremely poor, and the rich will be extremely rich. Are you saying that thanks to the government, we're not that poor? That's an odd point of view, considering at least the poverty of my own country, Mexico (home of the richest person in the world). |
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What is your exit strategy?
None. As I replied to other thread with a “sinking ship” metaphor, I'm not planning to exit because I trust the technology Bitcoin is built upon. |
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