What specifically is wrong with kaspa's approach?
Discussion
The fact that they launched a blockchain in the first place?
There is absolutely no need for another blockchain with a shitcoin token tied to it.
We have Bitcoin
What do we need the kaspa token for? What use case is it solving?
Bitcoin doesn't scale, thats what kaspa claims to solve. There is a need to scale. L2 sucks, its mostly an over centralised complicated Rube Goldberg device to make bitcoin work.
Such a strawman that the shitcoiners use so people can market their shitcoins. Bitcoin does scale it just needs to scale through layers which is what is happening.
I have no issues using lightning and I wouldn’t consider myself a tech wizard. It’s not that hard and it continues to get easier (e.g., nostr:npub1xnf02f60r9v0e5kty33a404dm79zr7z2eepyrk5gsq3m7pwvsz2sazlpr5 allows you to run a self custodial lightning node on an iPhone).
Plenty of people working on alternative layer 2s that will complement and/or compete with lightning and liquid
Also nothing wrong with scaling through custodial solutions like the ETF or exchanges.
Again the key is we keep options open and available so everyone can self custody if they need or choose to do so
Not needing to trust ETFs is a huge reason Bitcoin exists and continues to grow.
If it's not self-custodial it's a bank account.
Lightning's just not there yet especially with small nodes. If that's layer 2, than most the world will interact with layer 3. Liquid is my new fav but still more centralized than some chains.
I think the world might not be prepared to find out just how expensive/slow Bitcoin will be one day. I'd rather use Bitcoin, but the gov will still fuck us all until merchants can accept it and our grandma's can spend it.
Custodial Bitcoin is a Shitcoin.
I don’t disagree but you are delusional if you think people will not use custodial solutions
then what is the point.? might as well use paypal, works for purchases than WoS . Bitcoin exists for self custody trustless transactions. if that isn't going to be then fiat will surfice
Bitcoin exists to give people an option to opt out out of fiat. Some people will use custodial solutions and there is nothing wrong with that as long as people have the option to use Bitcoin in a sovereign manner and transact with privacy in a p2p setting
self custody maxis are just as delusional as bcashers
The biggest issue is KAS.
I used to buy ether before nostr existed, LTC when merchants accepted it because it was more usable than BTC at the time, and AUDIO before Fountain, thinking they must have a token for governance or there won't be any.
Solutions just keep coming out that replace the need for these others which use their own token.
I still own some of these as I've been slowly getting rid of random shit I got bought getting excited about unique solutions. Not totally against tokens for every reason, but that's probably the biggest thing wrong with it
I'd love to see something more like liquid that is decentralized instead of "federated". If that happens, kaspa may become as obsolete as other solutions.
If the point is to be money though, it seems like you would need a token
Yeah, maybe the world will always be 100s of different currencies. I think there's many digital currencys better than fiat, but wish for something more simple for merchants and people buying or using apps.
I think of it this way. BTC a currency on a chain with the most trustlessness where you don't worry about value dropping because a newer/better currency was just released since the value aspect is good as it gets, but just doesn't scale. I think people just need trustless payment solutions.
Could maybe have a token for a sort of governance purpose/ mining incentive but I think the future is more fun for users when that's abstracted and they don't need to buy such token to use it.