You keep saying that, but I have no idea what you mean! WHY DOES IT FORCE THEIR HAND. Why can't they just use it like a replacement for credit cards? Stop saying "it does X" without saying how!
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Replying to @cmuratori @rob_robby and
Because the moment someone else handles the money and you don't see it happen, they steal. Any third party in the middle can leak info. Lets say you buy with CC and pay the card people a 3% fee. Is that 3% *only* 3% in reality? [1/2]
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Replying to @grumpygiant @cmuratori and
The moment *some* of the money disappears, it can be reloaned using e.g. fractional reserve banking and be made to appear elsewhere as a greater amount. Your 3% appears as someone elses 90%. If they handle the money first, it's all lies.
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Replying to @grumpygiant @rob_robby and
But you still don't see it with BitCoin! You see money go into YouTube, you see it go out of YouTube, you have no idea what happened inside. Please, for the love of god, explain to me at least one time why you think BitCoin changes that _at all_.
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Replying to @cmuratori @rob_robby and
You know exactly what happened inside. It’s on the blockchain.
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Replying to @grumpygiant @rob_robby and
Why? Why would YouTube put any of that on the blockchain?
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Replying to @cmuratori @rob_robby and
Because if they don’t their competitors will. Like I said, it’s a self-sustaining system that spreads one debate at a time (like this one)
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Replying to @grumpygiant @rob_robby and
So, bad news, Richard: your supposed YouTube open ledger benefit was already engineered out of BitCoin when they did Lightning Network.pic.twitter.com/V3qTeyn9fN
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Replying to @cmuratori @grumpygiant and
This is also the kind of thing that cracks me up about crypto: half the people arguing it's what we need because it is transparent, and the other half arguing that it's what we need because it's not transparent. I guess what y'all need is the TRANSLUCENT blockchain...
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Replying to @cmuratori @rob_robby and
Did you get anyone lined up for the interview?
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Yep. Expect a series.
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