nostr:npub1tsgw6pncspg4d5u778hk63s3pls70evs4czfsmx0fzap9xwt203qtkhtk4 what's the easiest wayforr someone to create a website without knowing howtko code and only using open-source software?
My reason for pessimism? Ordinals.
I fear what monkeys pick lovers will do to the bitcoin ethos of non censorship, privacy and freedom
Can anyone explain to me how #bitcoin #btc is decentralized if nostr:npub15dqlghlewk84wz3pkqqvzl2w2w36f97g89ljds8x6c094nlu02vqjllm5m owns 1% of all bitcoin and 14,000 wallets own 60% of ALL bitcoin. What if we replaced the word 'whale' with 'oligarch'? Not sure how having so few people owning so much of btc makes it less susceptible to manipulation. This is s concern. Maybe I'm wrong?
The only thing whales can do is affect the price by selling or buying massive amounts of bitcoin. Btc isn't proof of stake like ethereum,so coin concentration does absolutely nothing to the decentralized nature of the protocol. This is the biggest flaw of ETH now... ETH also has a concentration issue but unlike bitcoin, the more ETH you have the more you can affect the network (not just the price ). Someone could have 60% of all bitcoin and he/she won't beable to change how blocks are validated. You can run a bitcoin node for free - the real power lies in the miners and nodes, not the holders.
Hey I know its the obvious, but it is the first time I've read someone with visibility say it like it is.
Ordinals will make this worse, crowding out everyday transactions. ETH had the same issue with gas fees. Let's adjust ordinal cost to reflect the true cost of blockchain data
ETH had a super high gas fee problem, btc was fine. Btc adopts oooordinals, btc gets a Hugh transaction fee. Let's please address this oooordinals madness bygetting them to pay just price for their data
Time to kick out ordinals, or get them to pay more for the data