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c4chaos's profile
~C4Chaos
~C4Chaos
~C4Chaos
@c4chaos

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~C4Chaos

@c4chaos

the man, the mortal, the hero, to zero.... (hyper)streaming with passion and compassion... #cryptotrifecta #HODLandChill #hardcoredharma $TSLA

everywhere and nowhere
c4chaos.com
Joined January 2007

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    1. Melik Manukyan  ⚡️ ludvigart.com‏ @realLudvigArt Jan 23
      Replying to @c4chaos @ProfFaustus

      Melik Manukyan  ⚡️ ludvigart.com Retweeted Melik Manukyan  ⚡️ ludvigart.com

      I'm the author of that article, here are some additional ideas of mine: https://twitter.com/realLudvigArt/status/955852480033837056 … People like CSW are unimaginative people and use the title of their whitepaper to preach and manipulate their audience. There is nothing p2p about blockchain txes, it is peer to all.

      Melik Manukyan  ⚡️ ludvigart.com added,

      Melik Manukyan  ⚡️ ludvigart.com @realLudvigArt
      #Lightning transactions on #Bitcoin can be fragmented and sent in pieces meaning that smaller channels can route larger transactions. I imagine such transactions will be slightly more expensive as it will require multiple transfers, but it disproves the 'lightning hub' FUD.
      Show this thread
      1 reply 0 retweets 1 like
    2. Melik Manukyan  ⚡️ ludvigart.com‏ @realLudvigArt Jan 23
      Replying to @realLudvigArt @c4chaos @ProfFaustus

      If they were around 100 years ago, I'm quite certain that they would preach to us about how DC power lines is a superior way to power our cities. "You mean you need transformers!? Too complicated!! Just increase the size of copper wire!"

      1 reply 0 retweets 0 likes
    3. Melik Manukyan  ⚡️ ludvigart.com‏ @realLudvigArt Jan 23
      Replying to @realLudvigArt @c4chaos @ProfFaustus

      1) What lots of people don't realize is that they tried to turn #Bitcoin into a server-client model and failed, they wanted to overtake the base layer and build a small interconnected circle of supernodes and squeeze everyone out into SPV clients.

      1 reply 0 retweets 0 likes
    4. Melik Manukyan  ⚡️ ludvigart.com‏ @realLudvigArt Jan 23
      Replying to @realLudvigArt @c4chaos @ProfFaustus

      2) At which point, their circle would have full authority of the blockchain and be able to quickly destroy all opposition nodes by bandwidth rate-limiting them. They would simply set up bw limits on all other nodes effectively not allowing them to fully synchronize or catch up.

      1 reply 0 retweets 0 likes
    5. Melik Manukyan  ⚡️ ludvigart.com‏ @realLudvigArt Jan 23
      Replying to @realLudvigArt @c4chaos @ProfFaustus

      3) Not to mention that newer nodes would never be allowed to fully synchronize. And once, your inner circle has full authority of the base layer or blockchain, then you dictate network rules, you dictate consensus, you control #Bitcoin.

      1 reply 0 retweets 0 likes
    6. Melik Manukyan  ⚡️ ludvigart.com‏ @realLudvigArt Jan 23
      Replying to @realLudvigArt @c4chaos @ProfFaustus

      This debate is largely over, its completely pointless arguing at this point. Bitcoin won, it enabled true p2p transactions in the form of unicast transactions. #BCash will soon join up with old ethernet hubs where it rightfully belongs. Switching/Routing is here for #Bitcoin

      29 replies 0 retweets 0 likes
    7. ~C4Chaos‏ @c4chaos Jan 23
      Replying to @realLudvigArt @ProfFaustus

      noted. but for me #Bitcoin $BTC “wins” when #LightningNetwork gets the mass adoption by users, businesses, exchanges, and hits that Metcalfe Law sweet spot. there will also be multiple winners in the crypto space that focus on developers and other use cases. #cryptoassets

      1 reply 0 retweets 2 likes
    8. ~C4Chaos‏ @c4chaos Jan 23
      Replying to @realLudvigArt @ProfFaustus

      maybe. i’m all for #LightningNetwork making #Bitcoin great again. but competion and innovation in the crypto space is fast and furious. it’ll boil down to what protocol can attract the most apps & devs while gaining network effect. so i’m not putting all my eggs in one basket 😎

      1 reply 0 retweets 1 like
    9. Melik Manukyan  ⚡️ ludvigart.com‏ @realLudvigArt Jan 23
      Replying to @c4chaos @ProfFaustus

      #Bitcoin was always great ;). I don't think any other #blockchain will ever come nearly as close.

      1 reply 0 retweets 0 likes
      ~C4Chaos‏ @c4chaos Jan 23
      Replying to @realLudvigArt @ProfFaustus

      for me #Bitcoin stopped being great when i can’t move my low balance BTC address because the fees are higher than the balance. but hey, maybe with #LightningNetwork i can move those BTC again 😎

      9:39 PM - 23 Jan 2018
      • 1 Like
      • Melik Manukyan ⚡️ ludvigart.com
      1 reply 0 retweets 1 like
        1. New conversation
        2. Melik Manukyan  ⚡️ ludvigart.com‏ @realLudvigArt Jan 23
          Replying to @c4chaos @ProfFaustus

          Yep, that's sadly a byproduct of what happens when moronic marketing people sell dreams to others without understanding limitations and implications of the underlying technology. It's not so much bitcoin no longer being great, it's more to do with properly scaling the technology.

          2 replies 0 retweets 0 likes
        3. ~C4Chaos‏ @c4chaos Jan 23
          Replying to @realLudvigArt @ProfFaustus

          there’s nothing moronic about leaving small balances of BTC in addresses that I’ve used in 2013 when Bitcoin used to work with small balances. heck i even sent small amounts of Bitcoin to friends as a gift for Christmas to demonstrate how awesome it was. can’t do that now.

          1 reply 0 retweets 1 like
        4. Melik Manukyan  ⚡️ ludvigart.com‏ @realLudvigArt Jan 23
          Replying to @c4chaos @ProfFaustus

          Yes, because our blocks were empty back in 2013. You can still do that with just about any other coin. You can't in #Bitcoin now, because bitcoin is too big and we're hitting scaling limitations of blockchains. Blockchains are absolutely shitty platforms to transmit data on.

          1 reply 0 retweets 1 like
        5. Melik Manukyan  ⚡️ ludvigart.com‏ @realLudvigArt Jan 23
          Replying to @realLudvigArt @c4chaos @ProfFaustus

          That's exactly what I try to show in my article, why blockchains suck for transferring data and why unicast transactions on lightning and other L2 layers are the *correct* way to scale. Blockchains are only good at creating digital assets and providing immutable/underlying proof

          2 replies 0 retweets 1 like
        6. ~C4Chaos‏ @c4chaos Jan 23
          Replying to @realLudvigArt @ProfFaustus

          maybe layer 2 is the correct way to scale Bitcoin. but other protocols have different consensus mechanism that scale vastly greater than Bitcoin. i.e. Steemit, BitShares, and soon $EOS. @bytemaster7 has proven that DPoS works at scale better than PoW. so bring on the competition!

          0 replies 0 retweets 1 like
        7. End of conversation

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