jonemil24 (OP)
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imagine me
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May 18, 2018, 05:53:15 PM |
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I made a post on a thread - https://bitcointalk.org/index.php?topic=3950099.msg37702905#msg37702905, the thread was titled; How is Bitcoin different from Ethereum? It made me think again of smart contracts TBH, and some parts of that average joe was me. BTW, I mentioned on my post a link about smart contracts - https://bitcoinmagazine.com/articles/yes-bitcoin-can-do-smart-contracts-and-particl-demonstrates-how/; TLDR? Let me get it short for you; BITCOIN can do smart contracts too! -Is it possible? -Does our beloved founder and developers want it? -Will there be a new bottleneck if this happened? Share your thoughts, computer wizards! |
Normally, if given a choice to do something and nothing, I choose to do nothing.
But I will do something if it helps someone else to do nothing.
I'd work all night if it meant nothing got done. - Roy Swanson |
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Each block is stacked on top of the previous one. Adding another block to the top makes all lower blocks more difficult to remove: there is more "weight" above each block. A transaction in a block 6 blocks deep (6 confirmations) will be very difficult to remove.
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hv_
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Clean Code and Scale
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May 18, 2018, 06:00:24 PM |
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There is a reason why ETH and co exist. Most is economical, cause you can mimic all sorts of logic a computer can do with a bunch of TX. It was also a problem that some OP Codes got amputated for BTC, that is now fixed for BCH and smart contracts make economical sense on Bitcoin Cash again, more limited than in ETH and co, more secure though.
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Carpe diem - understand the White Paper and mine honest.
Fix real world issues: Check out b-vote.com
The simple way is the genius way - Satoshi's Rules: humana veris _
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SuperD007
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Treat People How You Would Like To Be Treated.
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May 18, 2018, 06:08:59 PM |
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Yep, Bitcoin can do smart contracts.
I think ETH smart contract offer more functionality than BTC smart contracts. As far as I know, BTC smart contracts have limitations
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krixi
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May 21, 2018, 05:12:09 AM |
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Smart board provides many functions
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CASTIEL05
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May 21, 2018, 05:26:06 AM |
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Bitcoin can do smart contracts but it was destine to be a simple cryptocurrency and the people really like what bitcoin right now. Bitcoin and Ethereum are two different coins, two different in utilities but they have their own goodness and each of them is contributing to the welfare of economy. Hence, ethereum already improve the way of bitcoin. It applied smart contracts so that, decentralization will become more tough. Using smart contracts? Let's give it in Ethereum. |
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Script3d
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May 21, 2018, 05:39:07 AM |
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i dont know why btc need smart contract it already existed on ethereum why bring it on bitcoin that would cause trouble for confirmation times and that would make the transaction fees increase again do you want the insane high fees again like before and also the developers would not probably agree making it, there is already ethereum and its also decentralized whats the point of making something thats already there.
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cryptorTUX
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May 21, 2018, 05:50:30 AM |
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This is where opinions n of devs come into place. You can clearly see now that some people want smart contracts while others don't. Of course that you can create smart contracts as this is programmable but it will require you to do some additional tweaks which everyone else should update their nodes. So far I don't believe there are any further plans for such thing. Since founder is long gone then you have to ask developers regarding this, you can find them on github. Although there are bad sides of smart contracts, for instance because it won't be used only for money it will require you to have much more resources to run a node ad it will have more load to do various tasks, such as more Internet bandwidth, more storage etc. We can clearly see that ethereum blockchain size is like double of bitcoins but it has been less long than bitcoin. But when we look ethereum still has more nodes despite this. There are all trade offs. |
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Herbert2020
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May 21, 2018, 08:41:06 AM |
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bitcoin itself has limited functionality for smart contracts because it is not designed for them. instead bitcoin is designed to be a currency and a currency doesn't need to have such features. and smart contracts aren't really such glamorous things, at least they are never used in anything useful anyways.
but with second layers and side chains we can have all that functionality of smart contracts and a lot more in a much easier way because it is no longer on chain and because of that it is not limited by that. so the answer to your question is that bitcoin does have smart contracts but in a more efficient way.
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Weak hands have been complaining about missing out ever since bitcoin was $1 and never buy the dip.
Whales are those who keep buying the dip.
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jpnl0008
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May 28, 2018, 06:00:04 AM |
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The beginning of a thing most times may not come with all the best benevolence as new innovations certainly will come up, the idea of a smart contract was advanced by another Blockchain different from the Bitcoin, I personally believe the Bitcoin was not programmed with any room to accommodate it
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