Thomas Zander [ARCHIVE] on Nostr: 📅 Original date posted:2015-07-30 📝 Original message:On Thursday 30. July 2015 ...
📅 Original date posted:2015-07-30
📝 Original message:On Thursday 30. July 2015 10.24.07 Bryan Bishop wrote:
> On Thu, Jul 30, 2015 at 9:52 AM, Thomas Zander via bitcoin-dev <
>
> bitcoin-dev at lists.linuxfoundation.org> wrote:
> > What makes you think that when there is such a low availability of
> > transaction
> > space that paying to be included costs you $10, that Bitcoin is not going
> > to
> > be outcompeted and replaced or otherwise regarded as worthless?
>
> Ah, well that's simple. Because any decentralized system is going to have
> high transaction costs and scarcity anyway.
I've been doing system design for about 10 years and I can understand your
initial response.
I have to disagree with you, though. Surely decentralized adds an overhead,
but in its place it adds replication, redundancy and very cheap expansion of
capacity.
Remember when we went from single-core CPUs to multi-core (and
hyperthreading)? Developers were saying it was useless because all apps were
still single-threaded. And now, 15 years later, there are fantastic
frameworks to make this easy.
Same will happen with distributed. Any assumption you wrote above is not
inherent in the technology.
--
Thomas Zander
📝 Original message:On Thursday 30. July 2015 10.24.07 Bryan Bishop wrote:
> On Thu, Jul 30, 2015 at 9:52 AM, Thomas Zander via bitcoin-dev <
>
> bitcoin-dev at lists.linuxfoundation.org> wrote:
> > What makes you think that when there is such a low availability of
> > transaction
> > space that paying to be included costs you $10, that Bitcoin is not going
> > to
> > be outcompeted and replaced or otherwise regarded as worthless?
>
> Ah, well that's simple. Because any decentralized system is going to have
> high transaction costs and scarcity anyway.
I've been doing system design for about 10 years and I can understand your
initial response.
I have to disagree with you, though. Surely decentralized adds an overhead,
but in its place it adds replication, redundancy and very cheap expansion of
capacity.
Remember when we went from single-core CPUs to multi-core (and
hyperthreading)? Developers were saying it was useless because all apps were
still single-threaded. And now, 15 years later, there are fantastic
frameworks to make this easy.
Same will happen with distributed. Any assumption you wrote above is not
inherent in the technology.
--
Thomas Zander