Doesnt scale to *what level Kwuk ? Big enough to handle what volume of transactions ? Why not ? Which better system *does scale to the volume you want ?
- It doesn't scale to any level that could be considered significant in the world of finances. We can barely get the 3tps, which isn't close to the theoretical 7tps. If you compare that to even small payment providers it isn't even anything significant.
Mining is inefficient ? Hahah, So printing notes and metal coins, and driving them all over the physical place in combustion fuelled vehicles, guarded by humans, and destroying and reissuing those notes every few years is clearly a better cleaner more efficient system ?
- Only 8% of the money supply is physical. We have moved on from your ancient view of money a long time ago.
Owned by a few, what, you mean like our current systems where 5% owns more than the other 95% ?
So you want a new currency where everyone gets a free handout at the start ? perhaps free beer too ?
- Inequality is far worse within the bitcoin community than in regular fiat systems. Inequality will aholways be and isn't bad per se, what is bad is that bitcoin operates more like a ponzi in this sense. A small hand full of users was given big handouts right from the start when other people weren't even aware of it. At least with fiat everyone has aware more or less fair start. You do work aware earn depending on that. Early adopters got Rich by doing nothing.
You do know that credit card transactions arent "confirmed" in realtime either ? As a CC accept-er, the merchant takes on a charge-back risk that can be *6 months after the sale was "confirmed". Just because the little swipe machine says "Approved" doesnt mean the merchant actually has his money.. Bitcoin is actually a significant *improvement in this regard.
- Credit cards have had their best time. Banks are deploying newer more intuitive and faster payment methods every day. There are many systems far worse than bitcoin in this sense, there are also systems far better.
Want faster *confirmations - just add in a 3rd party who will accept the (miniscule) risk in covering the tiny fraud percentage for as long as it takes the blockchain to confirm things. Or you could try to withdraw/transfer $10k from a bank and see how long it *really takes them to "confirm" that you can have your money.
- No.. I don't want a 3rd party. One of the core ideas behind bit coin was getting rid of the middle man, your solution: 'add a middle man'...?
Transactions are traceable to *addresses, of course, they have to be. Addresses are not traceable to *people. Anonymity is quite easy if you want to take some precautions. Once again, a misrepresentation of the facts to suit your agenda.
- No, correlating addresses has become quite easy with all the blockchain tools available to us now. You only need to connect one of them to a real-world identity.
What agenda are you talking about? All i would like to see is bitcoin get back on it's tracks of being an innovative revolutionary system that solves problems we have in our current monetary system and that is available to everyone.
I think its good that we have bears around, we need people to look at the other side to keep from getting caught up in groupthink, but you arent a bear, you're a miserable excuse for a teddy bear with one of those pull-the-string-and-repeat-stock-phrases-in-a-squeaky-voice toys. If you would actually put some moments of cognition into your posts, you might not get laughed at so much.
- Yet, blind groupthink is what's going on here on a big scale, everybody ignoring or lying away problems in order to sell their bags to the next fool. How about we address and resolve these issues before we start to promote it to the average Joe again...
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