The real problem with big blockers & shitcoiners is that they don't understand enough about money & economics to have any awareness of the actual problem that #bitcoin was created to solve.

“The Times 03/Jan/2009 Chancellor on brink of second bailout for banks”

This isn't about fucking coffee payments. It's about ending monetary slavery. We will eventually get the coffee payments too, but not if we let a bunch of wildly ignorant people fuck up base layer security.

Competitive ecash pools where no one needs to hold any money for any length of time & no one ever needs to put all of their money, are a great additional options. Why is it that you can't tell the difference between a weak foundation & some optional thing that makes reasonable tradeoffs?

Not understanding that preventing monetary debasement is the whole point actually makes you literally retarded. Your ignorance seems to be so complete that you don't even know that you don't know enough to have an opinion.

Go read Meltdown by Tom Woods or The Creature From Jekyll Island or Layered Money or The Bitcoin Standard or The Fiat Standard or anything about Austrian Economics & money.

The genisis block message about Bitcoin being in response to bank bailouts wasn't some sort of random accident. Jfc.

The interesting thing about that chart is that ETH has completely centralized even though they only process about double the number of transactions as base layer BTC. And in terms of the global txn capacity issue they haven't solved anything. That chart actually looks to me like proof that Bitcoiners are right.

Except that I make 100x the number of txns on Lightning as I do onchain (as do most regular users & major businesses now) & that doesn't show on the chart you posted. Hedgehog channels are being added which will improve LN performance in all conditions. Eventually most transactions will be happening in fediments or arks that are networked via LN so onchain fee conditions won't matter for common use.

So you wouldn't run a node to audit the Fed right now?

The problem is that retards like you don't understand that bitcoin is trying to solve a $200trillion global money supply problem, not a fucking coffee txn problem. The coffee txns may be solved with other layers, but making coffee transactions better isn't going to set the world free if govts can still enslave everyone by printing trillions of dollars.

The higher value problem gets priority if we want to make the world better in the biggest way.

Transactions rarely cost more than a few dollars. We need better ways to trustlessly share UTXOs so that they can cost $1000+ because they probably will at some point.

The ~4mb limit has nothing to do with the cost of a harddrive.

It already costs a couple hundred dollars to buy the hardware needed to run a node. Storage & computational demands have grown & will continue to do so.

Lopp has written about past efforts to sync an ETH node from zero, which took weeks when everything went right & it repeatedly failed. Do you understand how fragile the network becomes if downloading & verifying everything takes that long & any significant number of nodes gets wiped out?

If only Google & Visa can run nodes then we have just recreated the Fed banks. They can change the rules & the supply however they see fit.

The cost of running a node gets exponentially larger as the number of nodes shrinks. Everyone who uses bitcoin has to connect to a node, what happens when the number of leechers massively outweighs the number of seeders? What does that do to the cost of seeding info?

The reason Monero & BCH work is because no one uses them. The more people do, the more centralized they become, just like we saw with ETH.

Bitcoin fairly regularly has blocks larger than 2mb. And the amount of transactions made in bitcoin is orders of magnitude larger than any shitcoin, most transactions just take place on Lightning & other layers.

Nonsense. If it's easy to run a node & doing so allows people to ensure that the rules of our monetary court system cannot be changed, then even if it costs $1000+ dollars to go to court people will run nodes.

If your vUTXOs or L2 txns depend on the validity of base layer UTXOs then it still makes sense to run a node which monitors the entire Bitcoin stack relevant to your money.

If you could run software that would audit the Fed or financial system today, you wouldn't?

Complete nonsense. This is purely a result of the US pushing NATO up to the Russian border & attempting to capture Ukraine which contains Russia's only warm water port. The US was trying to economically choke Russia.

It's not easy or elegant.

It's a hard fork that most of us aren't willing to support because we understand the long term costs. If you make it considerably more costly to run a node, say 10x, then you get significantly fewer nodes, more centralization, less resistance to future hostile changes, & you create a compounding risk of future network fragility if some significant portion of nodes get eliminated & have to resync from zero in order to secure the network. And for what?! 10x txn capacity does nothing in terms of the problem of putting everyone's coffee purchases on chain.

This debate has been had 1000 times & was already settled during the blocksize war. It's ridiculous how often these basic things have to be repeated.

Because every blockchain with meaningful adoption that has tried to do more txns on the base layer has still ended up with massive txn costs & because of their choices about base layer capacity they became centralized.

And the only reason it hasn't happened to bitcoin is that it is much harder to change. So how else are you going to add capacity if not in layers?

Even Hal suggested bitcoin banks would be necessary. But hopefully we will have something like shared UTXOs backing L2 blockchains which are networked via Lightning, so that everyone gets their own virtual UTXO & doesn't have to depend on trusting people too much.

Ukraine just turned down another peace deal even though they basically have no more male population to enslave into this fight. The US has stolen money Russia held in dollars & is funding the continuation of the slaughter with the interest on Russia's money. President of Serbia says ww3 is months away. Wouldn't be surprised if the psychos in power want the war to prevent the election.

There will be keys at different layers with different risk/trust profiles. There is really no other way to solve the problem.

Mutiny allows you to use fedimints.

It doesn't matter if a small amount of spending comes with some custodial risk if you gain privacy in the process.

But clearly the increasing optionality on bitcoin is never going to pump your bags so you are going to be opposed to all of it. Good luck with that.

Or https://enuts.cash/

I guess you aren't aware of https://app.mutinywallet.com/

You don't need permission to swap out via Lightning.

And using Monero requires either losing wealth or some sort of exchange cost, so if neither monero nor cashu are good places to store money, why not use the cheaper swap to make private payments? Cashu being custodial isn't any more risky than trying to exchnage btc for xmr. And like I said, better L2/L3 tech is coming.

Liquid has confidential transactions. Cashu is Chaumian ecash, both are networked via lightning so that with the right wallet(s) you can move seamlessly between the two.

The tools are definitely not as mature and seamless as I would like but they are there, and more is coming. Altcoiners don't want to see reality because their bags depend on it.

Even in a world where hundreds of govts force people to use national forms of money, everything has tended toward one. Govt force isn't going to be there to bolster altcoins as the world wakes up from this financial dark age we have been trapped in.

Anyone have that graph of all the alts vs bitcoin? I know I have it saved somewhere, but can't find it.

#asknostr #bitcoin