This donut eater has created his own character.

The size of Bitcoin needs to be small to continue to be distributed, if you can't set up a node yourself and you have to rely on a third party to verify your transactions it is no longer distributed.

It's that simple, the solution of increasing the block is not feasible, besides not everyone lives in the first world, third world countries also have the right to verify their own transactions.

I am very repulsed by the lack of intellectual honesty of this guy.

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Never liked him when I was on Twitter. He's an outrage farmer. I have little respect for people like that. It doesn surprise me he doesn't get it.

Whats he talking about high fees?

Typical credit card transaction fees are higher than #Bitcoin transaction fees like ~99% of the time

Kim is like Elon. Very smart guys but both don't get #bitcoin. This fact makes it realy difficult for me to stay humble.

Elon does understand Bitcoin, that's why he doesn't like it and is trying to destroy it, because Bitcoin will compete with his twitter payment system.

Adam meddling in these kind of convos shows more weakness and insecurity than strength.

We all could be happy that the free market provides us with very different projects with varying trade offs. I am glad we have super distributed BTC, super fungible Monero and super cheap bcash.

I don't need another fiat-like monopoly that makes it hard to hedge. And I'd argue that real hedging was not even possible before the invention of Bitcoin and after the capture of gold through ETFs.

I am all for free choice, taking into account the different risks of different approaches.

And as a self-sovereign being I am able to perfectly hedge my risk with those permissionless tools. That's a feature, not a bug.

Well said

It's even simpler than that. If he is on a fork with lower accumulated PoW, and he knows about a block header with greater PoW, then he's not following the most basic principles and is misleading people.

L2 is "unintended?" Didn't Satoshi and/or Hal Finney talk about the need for secondary layers/protocols?

Indeed both Hal Finney and Satoshi spoke of the need for layer 2 solutions given that the blockchain is not scalable.

Who is going to run a node for a network they can't afford to use though?

Your blocks can be 1KB small so everyone can theoretically run a node, but if it eventually costs $100s or $1,000s to transact that is just as centralizing as gigablockers. Only a tiny cabal of wealthy elite will use it and run nodes.

Average global daily income is $33. You're going to price out most of the world from using it and wanting to run a node.

It's a good point your argument, but since we are currently validating transactions by 8sat/vbit there is no need for any block augmentation, and poor people can still run a node on a raspberry pi and validate their transactions.

On the other hand, the point of layer 2 solutions, is to also reduce the number of transactions at layer 1 to avoid/delay block augmentation.

The art lies in the balance between block size, miners' incentive and layer 2 solutions.

8sat/vbit is almost $1 which can be fairly high depending on the value of transaction, frequency you transact, and where you live. Maybe no need to raise the blocksize right now, but eventually I don't see a way around it unless something changes (maybe CTV or Drivechains?). Even a few months ago when fees were high many were already complaining (rightfully so)

Another problem is that the higher the fees climb the higher the dust threshold...any UTXO value below the threshold will now be gone practically speaking (the value is equal to or less than the fee).

Are many bitcoin users taking advantage of even running a node? It would be interesting to know the rough number of total bitcoin users VS number of bitcoin node runners. I'm sure the percentage of bitcoiners using their own nodes is much lower than one would think.

Yeah... I can forgive the people who do not understand the concept of files, directories, ram and cpu for not understanding or not trusting bitcoin 100%. But those who understand that much, and have enough resources to setup a node for themselves (almost anyone) but still do not do it or do it and do not understand bitcoin anyway, are beyond forgiveness. Or they only pretend to not understand it as part of whatever propaganda it is they are spreading.

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