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Author Topic: [2018-11-09]Bitcoin Trailblazer Jeff Garzik Says Bitcoin ‘Unquestionably. . .  (Read 291 times)
gentlemand
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November 13, 2018, 01:19:23 AM
 #21

Yes but if the mainstream news media give him more publicity than someone in the bitcoin core development team, the crowd of new people going in the cryptospace would think he and his group are the influencers.

Also, I predict the next Bloomberg interview on him would be about his new project hehehe.

All anyone has to do is spend a few minutes reading, not that they'll bother, to figure out what he stands for now. And he has zero influence over Bitcoin itself so it don't really matter. He's burnt his bridges there most comprehensively.

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November 14, 2018, 01:28:26 AM
 #22

I reckon that would depend. The crowd of new people that would come in the cryptospace will be scammed by people like Jeff because he will use his credential as someone who was there from the beginning.

They will be scammed before knowing the truth.


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November 15, 2018, 07:25:13 AM
 #23

People should accept that bitcoin is not really meant as a means of payment but just a store of value. There are a lot of coins out there that needs more exposure that can get the job done. You guys can check Digibyte and Nano as a better contender for that qualifications.
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November 15, 2018, 11:20:49 AM
 #24

People should accept that bitcoin is not really meant as a means of payment but just a store of value. There are a lot of coins out there that needs more exposure that can get the job done. You guys can check Digibyte and Nano as a better contender for that qualifications.

Bitcoin is meant to function as a currency, the store of value aspect is just an extension of that.

People using Bitcoin don't mind paying the necessary fees to get next block confirmations, and even yesterday with the transaction peak due to the dump, the fees were still well under $0.10 for Segwit transactions. People happily use PayPal to pay like $5-$10-$100 in fees and don't say a word, but when Bitcoin's fee rise a tiny bit (still way under $0.50 for legacy transactions) it's suddenly a big deal?

By the time LN is mature enough to function as proper mass layer for payments, altcoins will serve solely as speculative tool. What's better than Bitcoin + instant payments?


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November 15, 2018, 04:44:23 PM
 #25

People should accept that bitcoin is not really meant as a means of payment but just a store of value. There are a lot of coins out there that needs more exposure that can get the job done. You guys can check Digibyte and Nano as a better contender for that qualifications.

Bitcoin is meant to function as a currency, the store of value aspect is just an extension of that.

People using Bitcoin don't mind paying the necessary fees to get next block confirmations, and even yesterday with the transaction peak due to the dump, the fees were still well under $0.10 for Segwit transactions. People happily use PayPal to pay like $5-$10-$100 in fees and don't say a word, but when Bitcoin's fee rise a tiny bit (still way under $0.50 for legacy transactions) it's suddenly a big deal?

By the time LN is mature enough to function as proper mass layer for payments, altcoins will serve solely as speculative tool. What's better than Bitcoin + instant payments?

Surely something can only become a currency after it's thought of as a store of value, vastly even more so when it's appeared out of thin air like bitcoin has.

Use as currency, widespread use rather than the early nutters, will be the last thing to fall into place, not the first.

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November 15, 2018, 09:51:07 PM
 #26

Bitcoin is meant to function as a currency, the store of value aspect is just an extension of that.
Agreed. It has always been a currency before it turned into a speculative vehicle. SilkRoad and a couple of other sites selling legal products were the first ever use case demonstrations, and that's what we should go back to.

I'm however less optimistic about its current use case as a currency without LN being optimally functional. People started to believe/=/accept that the store of value aspect is the only thing that matters.

When you're here for the gains only, yeah it's easy to convince yourself of that, but I'm glad that the other group of Bitcoiners want to see it become cash as well, and I'm in that camp as well. Use matters and attracts value.
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