What did you think of the CWS paper? illusion of scale in segregated witness

[mammabitcoin2u]

https://twitter.com/i/moments/888788567497035776 
which gives me this link
https://nchain.com/app/uploads/2017/07/SegWit-and-the-illusion-of-scale.pdf  or just google it.

Now, I'm more comfy with BTC and understanding a bit more.  I want to know what do you make of The illusion of scale in segregated witness by Craig Wright

I think he did a poor job at sounding technical/explaining his reasons/won't go there most citations.

But I do sort of get what he is saying.  I think this scaling thing is an illusion.  Kinda like big Pharma who kicks dr's who write scripts for their meds.  I mean you do believe the dr when he says, you need X.  You might not like it, but you follow dr's orders, pay for it and take it.

Last year I did some reading.  Recently, I've read a lot too much actually.  I think there is a deeper meaning down the road that no one is thinking bout/saying/getting squashed?  Well "no one" in the sense that BIG $ knows and us "pee-ons" don't.

Thoughts? No bashing and NO sig spamming.

[mammabitcoin2u]

Wright is not the 1st person to mention LN would be a fractional reserve style system.

Before he was banned , Kiklo called it a Bitcoin IOU System
He also stated the hidden reason segwit was even being introduced is it is required for the LN network to work
and the banking cartels need LN to act as their fractional reserve system.
https://bitcointalk.org/index.php?topic=1692482.msg16983234#msg16983234
https://bitcointalk.org/index.php?topic=1851626.msg18443471#msg18443471

Comparison of LN with Banks & GoldSmiths
https://bitcointalk.org/index.php?topic=1771911.msg17845648#msg17845648

Kiklo also predicted that eventually , a federally regulated Bank License would be required to run a LN Hub.
https://bitcointalk.org/index.php?topic=1885733.msg18745283#msg18745283
https://bitcointalk.org/index.php?topic=1885733.msg18746727#msg18746727

Read and decide for yourself, if you are so inclined.


╥Aztek

Thank you for those threads!  I hope they are as interesting as they are sounding from this post.

[cellard]

https://twitter.com/i/moments/888788567497035776 
which gives me this link
https://nchain.com/app/uploads/2017/07/SegWit-and-the-illusion-of-scale.pdf  or just google it.

Now, I'm more comfy with BTC and understanding a bit more.  I want to know what do you make of The illusion of scale in segregated witness by Craig Wright

I think he did a poor job at sounding technical/explaining his reasons/won't go there most citations.

But I do sort of get what he is saying.  I think this scaling thing is an illusion.  Kinda like big Pharma who kicks dr's who write scripts for their meds.  I mean you do believe the dr when he says, you need X.  You might not like it, but you follow dr's orders, pay for it and take it.

Last year I did some reading.  Recently, I've read a lot too much actually.  I think there is a deeper meaning down the road that no one is thinking bout/saying/getting squashed?  Well "no one" in the sense that BIG $ knows and us "pee-ons" don't.

Thoughts? No bashing and NO sig spamming.

Craig Wright's nonsense FUD was already addressed by Paul Storzk in a couple of tweets:


https://twitter.com/i/moments/888788567497035776

Don't fall for segwit2x, don't fall for Bitcoin Cash/ABC, don't fall for nChain... don't fall for any of these dodgy hardforks or you'll lose purchasing power.

[mammabitcoin2u]

https://twitter.com/i/moments/888788567497035776 
which gives me this link
https://nchain.com/app/uploads/2017/07/SegWit-and-the-illusion-of-scale.pdf  or just google it.

Now, I'm more comfy with BTC and understanding a bit more.  I want to know what do you make of The illusion of scale in segregated witness by Craig Wright

I think he did a poor job at sounding technical/explaining his reasons/won't go there most citations.

But I do sort of get what he is saying.  I think this scaling thing is an illusion.  Kinda like big Pharma who kicks dr's who write scripts for their meds.  I mean you do believe the dr when he says, you need X.  You might not like it, but you follow dr's orders, pay for it and take it.

Last year I did some reading.  Recently, I've read a lot too much actually.  I think there is a deeper meaning down the road that no one is thinking bout/saying/getting squashed?  Well "no one" in the sense that BIG $ knows and us "pee-ons" don't.

Thoughts? No bashing and NO sig spamming.

Craig Wright's nonsense FUD was already addressed by Paul Storzk in a couple of tweets:


https://twitter.com/i/moments/888788567497035776

Don't fall for segwit2x, don't fall for Bitcoin Cash/ABC, don't fall for nChain... don't fall for any of these dodgy hardforks or you'll lose purchasing power.

@AztekPhoenix.....after getting through the name calling, shilling and misinformation, those threads do contain good insight.  That's why there was all the name calling and shillin    When A tries to force B to do something it never sets well.  

@cellard, that's where I began after seeing the twitter,  agree 98% is FUD, but the 2% isn't.  It's always good to see everyone's side/thoughts, at least I think so.  Don't worry I'm not falling for anything.  That's why we, friends n family, have 1 network for finance and another for jerking around (like here, google, games etc) don't put wallets online, mainly buy local, just holding or "hodl" in btc terms.

You mention "forks" I thought after this there is suppose to be a soft fork in Nov?  I maybe delirious from all the reading i've done, but I coulda swore I read about it, maybe github, idk...........care to correct me?

[odolvlobo]

It is clear that CW is confused about the meaning of P in MV = PY.

[assuming M and Y are constant] As this is a direct linear relationship we can simply say that if we increased the ability to use bitcoin such that the velocity bitcoin spending increased by a factor of 100, the price would equally increase just on a use factor by 96.2 times. At the time of writing bitcoin is valued approximately 2,500 USD. An increase in the velocity of bitcoin making it simple to use and increasing the turnover of bitcoin within the community by a factor of 100 would increase the average price of each bitcoin to an estimated $240,000 USD.

The actual meaning of P in his context is the relative aggregate price of goods in the economy, but he thinks it means the relative price of a bitcoin. The relative price of a bitcoin is obviously ^M/_21000000.