Please rate my response to a friend, who is also a shitcoiner:
Hi James,
I thought I’d give a bit more depth to my response about $KAS. and your view that it is the next Bitcoin.
As I mentioned almost all Altcoins have faster transaction confirmation times, higher transaction volume and lower fees.
Bitcoins weakness in these 3 areas are its strength. Satoshi Nakamoto decided to compromise those features in order to prioritise decentralisation, censorship resistance and create a self balancing network of opposing interested parties in the form of miners, developers and node runners.
If you are familiar with photography, there is the triangle of function. Aperture, Shutter Speed and ISO (film speed). In photography you can prioritise any 2, but in so doing you must sacrifice the third.
So in Bitcoin, the triangle is;
Security, Decentralisation and scalability.
Satoshi chose to prioritise Security and Decentralisation which sacrificed scalability.
This is not a technical issue that can be overcome, but a design choice.
Security is critical unless you want the keys to your coins stolen. None of the 20,000+ cryptocurrencies will knowingly sacrifice this.
Decentralisation was the choice he made to prevent the network being compromised by any central organisation, primarily a government but also potentially a large corporation (or any combination of this).
Bitcoin is run by millions of people around the world and cannot be stopped by any bad actor or group of bad actors at any scale, be it state or government or combination of both.
That is Bitcoins strength.
KAS is a company run by a group of directors and shareholders.
That is not a criticism, most altcoin projects are such, but that is not a decentralised consensus protocol or network and does not solve the byzantine generals problem.
Bitcoin does and allows one of its 3 core tenets to exist: Don’t trust, verify.
The other two are:
Not you keys, not your coins
Do your own research
I hope this explains a tiny part of the enormous rabbit hole that I continue to spend every waking moment working on and have done so for over 4 years.
I may be slightly obsessed.
