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I'd love a link to read up on mimblewimble. As for bitcoin being cash, I think it is. The only argument I've seen that it can't be cash is the miner fees in the future being high - and I'm not convinced that will happen. But even if it does happen, its not bad if bitcoin evolves, as long as the supply cap isn't increased. I don't care if I have to use a second layer. What I do care about is terraforming Venus, so I would really really like block times increased. Different topic though... Need info on mw

goatmeal 1y ago

if miner fees are not high in the future, bitcoin will have no security budget. why didn't you already know that?

the only players who will be able to afford to open lightning channels or do anything else onchain will be a small number of banks. almost nobody will be able to have self-custody even if they want it. and you're going to get KYC'd and surveilled out the wazoo just to be able to access the economy. they can even start to do fractional reserve banking on it. there's nothing being done about this and the only people even talking about it are already using alts.

you can't seriously sit there and act like the problem will solve itself when there's not a single bitcoin maxi alive who even notices what's going on.

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Emergent Behaviours 1y ago

Yes. I first heard this from a maxi and consider myself one. You don’t speak for maxis.

You’re right, we can’t predict the future. Seems scary. Go buy doggy coin instead.

goatmeal 1y ago

keep running your mouth. bitcoin maxis constantly respond to the block subsidy problem by describing a scenario where transaction fees are sky high, then they gleefully dismiss every single problem with everyone having to use a custodian. enjoy your super cool decentralized gold that you use through a bank. it probably won't happen for a while longer.

Emergent Behaviours 1y ago

Did you have proposed solution?

Comte de Sats Germain 1y ago

If you had read the thread, you would know that we've covered that stuff, and the point I was trying to make is that you can accomplish more by either building on or attacking bitcoin. You're accomplishing nothing by avoiding bitcoin. If you want to attack it, fine, but make it a real attack. Exploit something. Knock something over. Your defeatism is why you are ineffectual and why you avoid bitcoin.

goatmeal 1y ago

shoving everyone into a custodian is the exploit and it's happening right now. what do you think would happen if everyone suddenly said "I'm done being retarded now, I think I'll use a trezor." there's not enough room. by avoiding bitcoin I am making a bet that there will be no mass adoption outside of useless little bitcoin accounts that can be surveilled and shut off, no opcodes to make self-custody more scalable, and no deviations from what tradfi is doing.

Comte de Sats Germain 1y ago

That's a really big bet. Good luck.