Crucial point. "Digital cash" was dreamed up by academic cryptographers long before Bitcoin. It was a privacy-enhanced way to pay in dollars or euro, not a new currency. Many in crypto academia still don't get the idea of an independent currency & its very different requirements.https://twitter.com/waxwing__/status/1012221025503891456 …
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Considering you’ve been in Bitcoin community since inception, I’m wondering you feel your outlook has changed (from payment -> settlement network) or if you thought that Bitcoin was always destined for settlement network (instead of layer 1 payment network)?
My bit gold design in 1998 was 2-layer: bit gold for settlement, Chaumian e-cash for a privacy-enhanced payments layer. I've always thought of Bitcoin as evolving into a settlements-and-large-payments layer that in the long term needed a layer 2 for consumer payments.
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Thank you for the info, and I think it’s a reasonable standpoint if you agree that BTC needs to be maximally decentralized. My current favorite solution is BTC as a secure, store of value layer while atomic swapping to BCH for payments.
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BCH doesn't have atomic swaps.
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sure it does.
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got a link?
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https://www.reddit.com/r/btc/comments/7juc9i/first_of_many_bch_kmd_atomic_swap_via_barterdex/ … BCH has a much more permission scripting language than BTC due a much larger amounts of OP_CODES enabled by default, as well much larger OP_RETURN allowance. This hostility by core devs forced
#ETH to move away from#BTC and to start a new chain.
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Nick is projecting his failed Bit Gold dreams onto Bitcoin Which one do you want? Nick's failed Bit Gold = off chain scaling Satoshi's Bitcoin = on chain scaling
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how did it fail when it was more theory than product?
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Your bit gold design doesn’t work 20 years after inception, nobody uses it. Why redesign bitcoin to make it fit your ideas while they clearly haven’t been working and clearly bitcoin, a p2p electronic cash system did for the past 10 years?
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Since when is Nick "designing Bitcoin"?
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since the begining I think
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From what I gather LN doesn't need BTC when all's said and done
@SatoshiLite@decredproject or any other coins that can be swapped can be used & will be. So LN is the only layer that matters if it can switch on the fly. Seems like a parasitic trojan horse. -
LN can be a compatibility layer between chains that support it. LN doesn't have a token, though, so it's inaccurate to say "switch on the fly". Every user is free to choose what tokens they deal in. But cross-token payments will have significantly higher fees.
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Switch on the fly with any other coin that is running LN.
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If you mean that LN can also function as a decentralized exchange service between the chains that support LN, then sure, that's true.
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"moral right" LOL
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Not to mention there is some strong indirect evidence that Nick is Satoshi.
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It doesn't matter whether Nick is Satoshi or not.
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you are a true master Nick.
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