#Bitcoin is held back by being the first cryptocurrency and not having Satoshi around anymore.

Being first causes 2 major problems:

1. Being first, Satoshi had to use conservative estimates for stuff like initial block difficulty and other elements of the anti-spam, anti-51% ecomomic model

2. Being first attracts people who don't want to think for themselves and just want to do whatever is convenient

Satoshi could have provided leadership to overcome these 2 issues. The problem is, without Satoshi, relatively thoughtless people are left at the helm, and Bitcoin economics never get tweaked for energy efficiency after developing into an insane abomination.

Bitcoin is still a good investment because of one of these very same problems: being first attracts people who don't want to think too much. Buying first, by thinking a bit more, is still profitable.

It's also a good investment because of the opposite side of the coin: being first attracts everyone, including the smartest, most thoughtful devs. They might be outnumbered, but they're there. There's a reason the Bitcoin network has maintained uptime and avoided being compromised.

Anyway, the #dogecoin ecosystem needs and deserves better devs than it has. The dogeconomy is pretty balanced, as shows in transaction fees. It is the upgrade from the prototype. Doggie coin mainly just needs better wallets right now. It will also be challenging, but essential, to keep transaction fees down in the future.

A counterpoint I am aware of: "dogecoin will need Bitcoin-like economics if it gets as big as Bitcoin, because Uncle Sam is ready to spend a lot on attacks, if such spending will take down whatever cryptocurrency network is the biggest." The main reason I don't believe that is because it's basically suggesting bitcoin devs have balanced it perfectly by guessing the exact attack budget of adversaries, or it's being balanced perfectly by the market behavior of whales with insider information or something. Maybe... maybe. Maybe Satoshi was a deep state group. Who knows?

I just feel like, while they definitely have access to lots of insider info, the BIGGEST piece of insider information Bitcoin whales have is probably still plain old simple "don't lose your wallet keys."

Bitcoin difficulty was 1 for absolutely ages. Months or even years.

You seem a doge fan, so I wont disappoint you by telling you how it got started, the pump and dumps, and the cryptsy debacle. That would be unlikely to register, but I would be cautious of doge.

I personally think the bitcoin devs are pretty good, and have a tough job. Though no human is perfect.

Reply to this note

Please Login to reply.

Discussion

I was there for all of that.

I've been in dogecoin since before the deep state injected the "doj coin" pronunciation and the original devs went along with it

I constantly get banned from dogecoin discussion forums for being angry at the "doj coin" pronunciation, because of devs too spineless to stand with me on that topic - the problem has festered for years

Michi banned me from the dogecoin Discord not only for this, but also for calling her out for bullshitting about the hardware backdoors in modern CPUs (such as Intel management engine)

The bitcoin fork with a huge network and low transaction fees and a picture of Kabosu for a logo deserves:

* devs who would call it "doggie coin"

* devs who would be annoyed at people calling it "doj coin"

* devs who would be fucking pissed at hardware manufacturers undermining network security with hardware backdoors

Dogecoin having the devs it has is fuckin weird. We live in a weird timeline.

Let me also add:

* Devs who hate censorship and love decentralization - it's a fucking bitcoin fork, in case the current devs aren't aware??

At the time all the bitcoin forks were fair, and finite. There were some premines, but doge was the ultimate infinite money printing scheme.

Bitcoin imho has largely stated true to its principles. It's a level playing field, which is what I like about that. Very few of the 10,000 copies can claim that.

Its about as close to a decent level playing field as we can get, imho.

Not sure what you mean in the first part. Dogecoin had no premine.

Agreed on Bitcoin largely staying true to its principles and being a level playing field, but same for dogecoin, it just deserves better.

It sure did. Same dudes started tons of coins at the time.

Again not sure what you mean but dogecoin did not have a pre-mine

We can agree to differ on this one! Thanks for raising some interesting points.