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Many people overlook the fact that Bitcoin is already prepared to scale while remaining decentralized on its L1.

Another thing is that the masses are stupid and don't use it.

Then we have the rest of the shitcoins, none of which are prepared to scale right now, at least without losing decentralization.

You wonder why all this development has emerged in Bitcoin and not in your favorite shitcoin?

Lightning, Liquid, ARK, and Spark—you may like each of these technologies more or less, they have their pros and cons, but together they allow scaling to 8 billion people.

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Discussion

Milkshake Chicago 2d ago

What is your opinion on Fediment? I'm having a hard time fully understanding it. But I think I've grasped a little bit of what it is and how it works

Cyph3rp9nk 2d ago

Well, it's just another tool, but I think it's very good from a privacy standpoint.

Milkshake Chicago 2d ago

I agree. Is it like an extension of the lightning network or is it its own thing?

Cyph3rp9nk 2d ago

No, it is a federated ecash protocol. Custody rests with the federation, so a single individual cannot steal users' funds.

The advantage is that you get total privacy due to Chaumian ecash.

Milkshake Chicago 2d ago

& the guardians of the federation are incentivized to be honest right? Because by being dishonest it would in turn harm them by ruining the integrity of their federation? Like Do the guardians receive transaction fees or how do the incentives work?

/dev/fd0 1d ago

They are incentivized to rug the users and disappear. Also vulnerable to regulatory issues.

Hanshan 1d ago

it's their mint so they can run it however they like.

how are you going to confirm that the federation is actually a bunch of different people? and not just one guy publishing a bunch of different keys?

and if they're known people what's to prevent regulatory pressure from being applied to them?

anybody with experience on the darknet knows that the incentives are to build up a reputation, wait until you have custody of a big pile of Bitcoin and then disappear.

really unclear how this is going to be the solution to anything.

goatmeal 1d ago

this is total mega 1000x shitcoinery you worthless mute button fondling cunt

Milkshake Chicago 1d ago

Me? I don't know anything about it. that's why I'm asking im trying to hear ppls opinions on it

Cyph3rp9nk 1d ago

There is little pragmatism in this space; for me, everything is a tool that I can use temporarily to gain privacy.

Maximalism has reached such extremes that within the Bitcoin space itself, applications, protocols, etc. are censored.

Simply put, if it's useful to you, use it; if it's not useful to you, don't use it.

Don't listen to others; use your own judgment.

For example, everyone criticizes Liquid, but I use it every day simply because it's useful to me in my daily life.

Leach 1d ago

"Word! 👀 So, what’s got you curious about it? Spill the tea! ☕️✨ #JustWondering"

Milkshake Chicago 3h ago

Long story short around 2014 I learned enough about bitcoin to use the dark web, the next 8 years we're spent getting further and further into my drug addiction and making a disaster of my life. I eventually forgot all about Bitcoin completely. I got sober for good in 2022 and luckily was able to turn my life around. I came across a news article in 2024 about Bitcoin and it officially launched me down the rabbit hole full speed and I think it helped I had that first exposure to it already. And when you start down the Bitcoin rabbit hole, you inadvertently end up learning about a million other things, that, on the surface, don't seem to be related to Bitcoin,but in fact, couldn't be more related. So fediment, although directly related, was just one of the many things I have come across that i'm trying to understand, not that there was anything significantly special about it itself. Sorry for the long autistic response.

goatmeal 1h ago

fedimint is one of the shitcoins that the lightning network dragged into the bitcoin ecosystem. instead of one person rugging you, it's one person pretending to be four people rugging you. hooray, ruggable bitcoin!

Milkshake Chicago 10m ago

What about in like small close knit communities? In your opinion do you feel like it has a use case then or do you feel like its not justified in any circumstance because of its weaknesses and its potential of capture/rugging?

DarthCoin ₿⚡️ 2d ago

I don't want Bitcoin to scale to 8 billion dumb people....

I want Bitcoin to be USED by smart and knowledgeable people.

Fuck the weak people. We have enough suffering from dumb and obedient people...

Bitcoin is a natural selection.

Cyph3rp9nk 2d ago

I assume that people will never use it, but the tools are there, which is important to counter the narrative of idiots who say that Bitcoin cannot scale.

Or who try to sell you their shitcoin, when most development right now is happening on Bitcoin.

Hynek 2d ago

True, but doesn’t it work in both ways?

Incetives work better with bitcoin → people are less dump after discovering bitcoin.

DarthCoin ₿⚡️ 2d ago

If they use their brain, yes.

But unfortunately only 1% of population use their brain.

BTheCoin 2d ago

Totally agree! Bitcoin's scaling potential with Lightning and others is huge! It's cool to see real innovation happening there. Let's keep spreading the word and help more folks understand its benefits! 🚀💪