No segwit
OMG BANKS ARE CENSORING PEOPLE! Yes I spoke about this many times. Hence bitcoin.https://www.cernovich.com/how-to-buy-bitcoin/ …
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Mike is doing it exactly right. Usage of Segwit (outside of LN channel openings) is a centralizing influence on the network.https://twitter.com/lukedashjr/status/1074785025793712131?s=21 …
No, Segwit was/is needed for Lightning, which is crucial to scaling, and future improvements. I accepted the bundled block size increase as a compromise, although now I think it may have been a mistake even then.
I *am* against *using* Segwit for non-Lightning wallets, tho -
Non segwit nodes still get the tx. I understand what Luke is getting at. But there are thousands of nodes out there that are segwit nodes. Also, for those looking at donations we should be getting them on LN. Maybe tally, BTCpay, or blue wallet.
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I’m not referring to non-SW nodes. Some places just have terrible internet. The larger you make the blocks, the fewer people will be able to participate by running a node. Funny you mention
@tallyco_in, as@djbooth007 is having this very issue. -
Using Segwit for transactions other than opening LN channels is actually a bit selfish. You’re prioritizing saving a few cents per transaction over keeping the network decentralized. As a receiving address, it’s just a vanity play “Hey look at me I’ve got a 3 addr! I’m so 733T!”
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One could argue that saving space in blocks by minimizing your own tx size is altruistic (?)
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No, because you are simply facilitating larger blocks by using SW. if no one did, the blocks would remain 1 MB even today.
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Yes i see what you’re getting at. I’d have a better chance of running a full node at home with smaller blocks and if SegWit didnt come with increase in block weight. But SegWit could bring other improvements to help shrink tx sizes. Short term tradeoff for longterm gain.
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Coinbase is already doing that, and it's going to get worse now that the MasterCard controlled Paypal is providing them exchange service.
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The fiat gatekeepers are the problem
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We need to be start acting like adults and 1) thinkof and 2) actually implement useful use cases for blockchain. It's not enough to say, "Bitcoin" or "Oh blockchain is cool." Without viable use cases, including being a stable store of value, none of it matters.
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Alex Jones says Bitcoin was invented by George Soros in order to discredit future cryptocurrencies. I am not against crypto in general, but I think we need to be thoughtful about use cases.
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I’ve been watching this. Feels like time to buy but hard for me to shake question of psychology. What undergirds bitcoin? A US $ is backed by the most successful democracy ever that owns a printing press. Bitcoin has the psychology/scarcity advantage but what undergirds it?
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The fact that it's rare. You have it backwards. Bitcoin is more valuable than the US dollar because there is only a finite amount of Bitcoin in the world. There is an infinite amount of US dollars not backed by anything because the Federal Reserve can always print more money.
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I'm also not sure I believe Alex Jones on this point because I am not sure what his sourcing is on this. All I do know is that AJ is usually right. I'm not sure why/how, but it's just true.
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Bitcoin is a store of value similar to gold. It is difficult to code on it. People get excited about it as it is has the first mover advantage and it's prices have skyrocketed in the past. However, - honestly, it does not do much else other than store value.
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I feel like Bitcoin sucks all the air out of the room because it was first/has the highest monetary value. At the same time, its price fluctuations affect the prices of other cryptocurrencies, causing their prices to lower and speculators to undervalue their utility.
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