Nick Szabo's Remarks about Bitcoin XT

[Peter R]

In five years of using bitcoins to purchase all kinds or goods and services, not once has it seemed important to me to purchase a cup of coffee or a similarly trivial item.

It was pretty cool at the Scaling Bitcoin reception to be able to pay for a glass of wine with Bitcoin. 

[monsanto]

Was listening to some of the podcast again.

Stephanie Murphy:

Did you engage in conversations with Satoshi on the mailing list and like what were your impressions at that time?

Szabo:

It was interesting, I wasn't - since I - you know - it wasn't as novel to me as it was to other people at the time, so I didn't take as big an interest in it initially as some other people did.

[brg444]

In five years of using bitcoins to purchase all kinds or goods and services, not once has it seemed important to me to purchase a cup of coffee or a similarly trivial item.

It was pretty cool at the Scaling Bitcoin reception to be able to pay for a glass of wine with Bitcoin. 

I suspect that many people who wish to purchase coffee with bitcoin are more interested in the novelty of the experience of using bitcoins to purchase something familiar. They're missing the big picture.

I ordered at the same moment as another guy who was paying with Bitcoin. I paid cash and it took seconds to proceed. For dude's payment the barmaid had to call up "the bitcoin guy" and have him process the transaction. All of which took at least a couple more minutes.

[Brad Harrison]

I had goosebumps listening to his voice for the first time

[Peter R]

In five years of using bitcoins to purchase all kinds or goods and services, not once has it seemed important to me to purchase a cup of coffee or a similarly trivial item.

It was pretty cool at the Scaling Bitcoin reception to be able to pay for a glass of wine with Bitcoin.  

I ordered at the same moment as another guy who was paying with Bitcoin. I paid cash and it took seconds to proceed. For dude's payment the barmaid had to call up "the bitcoin guy" and have him process the transaction. All of which took at least a couple more minutes.

I paid with Bitcoin on Friday night and with fiat on Saturday night.  Funnily enough, Saturday night I tried to pay with a $20 and the bar tender went looking for change, couldn't find any, and ask me to pay with a card.  She got the machine and while I was digging for a card I realized I had enough coins to make exact change.  Anyways, the process was fairly cumbersome.  

Nevertheless, you make a valid point: paying with Bitcoin is still unnecessarily slow and awkward.  We need tap and pay!!

[Gleb Gamow]

I had goosebumps listening to his voice for the first time

Did you save some goosebumps for eight days from now when Jesus is supposedly making his comeback appearance, perhaps via a FOX interview?

[Brad Harrison]

I had goosebumps listening to his voice for the first time

Did you save some goosebumps for eight days from now when Jesus is supposedly making his comeback appearance, perhaps via a FOX interview?

Another end of the world happening?

[hashman]

I had goosebumps listening to his voice for the first time

Did you save some goosebumps for eight days from now when Jesus is supposedly making his comeback appearance, perhaps via a FOX interview?

He showed up in /reddit/darknetmarkets the other day a bit early. 

[kazuki49]

yeah I think he is Satoshi.

[glub0x]

There is reason why the Genesis Block mentions a second round of bank bailouts instead of, oh say, debit/credit surcharges for small purchases at Starbucks.

Satoshi created Bitcoin to stop command economy BS like bank bailouts, not because he was charged fifty cents extra for using his AMEX to buy a latte.

Uppercase-B Bitcoin (or lowercase in Szabo notation) the first viable and most secure ecash competes with gold and central banks.

Lowercase-b bitcoin (or uppercase in Szabo notation) the blockchain technology competes with Visa/Paypal/Square (via altcoins).

Bitcoin is global revolution against authoritarianism, not the next fucking Dwolla.

well that's what you say ... It is clear to me that he thinks his techno solves several problems at the same time.
There is a reason why he used  the abstract & introduction of his whitepaper NOT to speak about bailouts but small transactions. You might say he was wrong or the bailouts problem is more important ( which i agree ) but you won't change the fact that Satoshi's vision is also about a global payment system for casual transaction.

I think the monetary policy is a much more political problem whereas the small transaction is consensual, everybody wants to pay less fees. It is a much better introduction to keep everybody on board for the next 15 pages of his white paper.

[Liquid71]

In five years of using bitcoins to purchase all kinds or goods and services, not once has it seemed important to me to purchase a cup of coffee or a similarly trivial item.

It was pretty cool at the Scaling Bitcoin reception to be able to pay for a glass of wine with Bitcoin.  

I ordered at the same moment as another guy who was paying with Bitcoin. I paid cash and it took seconds to proceed. For dude's payment the barmaid had to call up "the bitcoin guy" and have him process the transaction. All of which took at least a couple more minutes.

I paid with Bitcoin on Friday night and with fiat on Saturday night.  Funnily enough, Saturday night I tried to pay with a $20 and the bar tender went looking for change, couldn't find any, and ask me to pay with a card.  She got the machine and while I was digging for a card I realized I had enough coins to make exact change.  Anyways, the process was fairly cumbersome.  

Nevertheless, you make a valid point: paying with Bitcoin is still unnecessarily slow and awkward.  We need tap and pay!!

For instant Tx try this https://in.xapo.com/campaign/debit/

[iCEBREAKER]

There is reason why the Genesis Block mentions a second round of bank bailouts instead of, oh say, debit/credit surcharges for small purchases at Starbucks.

Satoshi created Bitcoin to stop command economy BS like bank bailouts, not because he was charged fifty cents extra for using his AMEX to buy a latte.

Uppercase-B Bitcoin (or lowercase in Szabo notation) the first viable and most secure ecash competes with gold and central banks.

Lowercase-b bitcoin (or uppercase in Szabo notation) the blockchain technology competes with Visa/Paypal/Square (via altcoins).

Bitcoin is global revolution against authoritarianism, not the next fucking Dwolla.

well that's what you say ... It is clear to me that he thinks his techno solves several problems at the same time.
There is a reason why he used  the abstract & introduction of his whitepaper NOT to speak about bailouts but small transactions. You might say he was wrong or the bailouts problem is more important ( which i agree ) but you won't change the fact that Satoshi's vision is also about a global payment system for casual transaction.

I think the monetary policy is a much more political problem whereas the small transaction is consensual, everybody wants to pay less fees. It is a much better introduction to keep everybody on board for the next 15 pages of his white paper.

When Bitcoin was just a tiny baby and hardly anyone used it, micro-tx were feasible.  There was a thing called SatoshiDice, which used the blockchain as its payment rail for trivial gambling.

But then Bitcoin grew up and up and up.  Bitcoin grew so big that SatoshiDice-type things didn't fit on its increasingly valuable/popular blockchain.

And now, with a multi-billion-dollar marketcap, technological maturity, and marketplace acceptance, Bitcoin's different aspects have been thrown into sharp relief and bifurcated in application.

That's why Szabo also uses the big-B/little-b (protocol/ecash) distinction.  "Eventually" (perhaps Soon), micro-tx will return to BTC, after SC/LN makes them again feasible.

I hope explaining all this to you like you are five years old has helped you understand more.