nostrdamus on Nostr: btc is being attacked on two fronts from outside and from within. satoshi's white ...
btc is being attacked on two fronts from outside and from within. satoshi's white paper spoke of nothing more than a medium of exchange. the store of value was never mentioned. it is arguable therefore the value is the medium of exchange.
crisis of confidence - small blocks, big blocks.
small blocks allow millions of nodes to run domestically. they also protect against 'dod' attack of the network. in the early days this was necessary. today with millions of users, less so.
big blocks allow for more and faster transactions. btc is scaleable. it always has been. spv made that possible, it is still possible today. the small blocks were only a precaution in the early days. so why do we still have small blocks?
small blocks make it easier for everyone to store a full node. given the full node is less than a tb, this is really not a something we should be worried about. most businesses run 40tb servers+. btc could expand the block size and still maintain 100s of thousands of nodes. so why keep blocks small? who wins?
in the short term those setting fees. in the long term, nobody. btc will fail to be of any value unless it is returned to being a medium of exchange. it is only an asset if it has value to people. if the network only handles the monster payments, what value is it to you and i?
dollar go up is completely the wrong thinking.
use btc to avoid fraud, corruption and dystopian rule. return to a free market and peace. the value in that is instant.
if you are in business or starting out price in btc. sell, buy borrow lend .... in btc and create the world you want for you and yours.
lets also open the discussion around block size again and stop the censorship from within. this way we win on both fronts. we leave fiat behind and move on with the world's best money.
GM 🙃
crisis of confidence - small blocks, big blocks.
small blocks allow millions of nodes to run domestically. they also protect against 'dod' attack of the network. in the early days this was necessary. today with millions of users, less so.
big blocks allow for more and faster transactions. btc is scaleable. it always has been. spv made that possible, it is still possible today. the small blocks were only a precaution in the early days. so why do we still have small blocks?
small blocks make it easier for everyone to store a full node. given the full node is less than a tb, this is really not a something we should be worried about. most businesses run 40tb servers+. btc could expand the block size and still maintain 100s of thousands of nodes. so why keep blocks small? who wins?
in the short term those setting fees. in the long term, nobody. btc will fail to be of any value unless it is returned to being a medium of exchange. it is only an asset if it has value to people. if the network only handles the monster payments, what value is it to you and i?
dollar go up is completely the wrong thinking.
use btc to avoid fraud, corruption and dystopian rule. return to a free market and peace. the value in that is instant.
if you are in business or starting out price in btc. sell, buy borrow lend .... in btc and create the world you want for you and yours.
lets also open the discussion around block size again and stop the censorship from within. this way we win on both fronts. we leave fiat behind and move on with the world's best money.
GM 🙃