15) Maxi: Because, remember, it has over half of total marketcap _despite_ having nothing else going for it.
So it must have all the money. That's what the world is saying.
Conversation
the btc insistence on easy verification on older hardware, refusal to add features that eg 2x utility but add a 1% tail risk, etc are a real difference between btc and eth—btc is actually way better at the adversarial money use case (at the obvious expense of everything else)
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the dialogue in the thread is interesting too, but it kind of presupposes that btc is just an older less full featured version of eth that has adoption for reasons no one really understands—not the case imo
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analogy to an m1 abrams vs a toyota rav4. you can do lots of things in the rav4 quite well—drop the kids off, do some light offroading, go grab some in n out. the only thing the abrams is good for is war, but it's very good at that since it can ignore tradeoffs.
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specifically, btc has:
1. higher quality codebase
2. much higher cultural barrier to breaking changes
3. more robust networking layer code tho eth has improved
4. smaller attack surface both at the code & economic level
5. more censorship resistant, due to ease of fullnode
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Replying to
meh what % of hashpower comes from people who couldn't gather up the technology to run an ETH node? I suspect it's irrelevant from a censorship point of view.
(1), (3), and (4) can all change
I feel like (2) is the real one here
ah, the s2x debacle proved beyond a shadow of a doubt that hashpower is not in charge of btc, and that an ornery army of grumpy full-node runners can effectively resist changes that would make btc less censorship resistant!
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also i think you dismissed 1 3 and 4 wayyy too casually, particularly 4. both projects have some of the best minds in the world working on them, but BTCers have a way easier job on the security front, simply because BTC tries to do so much less than ETH.
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hashpower? “dishonest” miners are just one way to pull off censorship, and probably not anywhere near lowest hanging fruit for attackers
bitcoin does better than eth and others on all other fronts. no foundation to coerce, infrequent upgrades, holders running verifying nodes etc
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I do think 1, 3 and 4 are less relevant. But without going into what’s “higher quality” which really depends on what dimensions you care about, what we can say for sure is that bitcoin core optimized for reliability and robustness over anything else, while geth doesn’t
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Really? It's users, traders, hodlers fullnodes that evaluate consensus rules and what counts as valid blocks. same as investors buy gold not pyrite. Miners just mine to those rules if they want to be paid. Everyone knows this since UASF. And many knew this before.
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