Damus

Recent Notes

heinz57 · 125w
No one cares about fiat.
BHAVIK · 125w
Entire economy is going to built around bitcoin, for that we need strong foundation, bitcoin offers that. Privacy can be achieved using coinJoin and other layer solutions being built around bitcoin,...
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Economy (Point 1) - Why not even 10% of world economy is dependent on Bitcoin after 14 years of it's existence. I know the doomer case for it, when everything collapse everyone will apparantly use bitcoin or gold. But why not during good times 🤔

Privacy (Point 2) - "Can be achieved". The real question remains why it hasn't been? Probably less than 5% bitcoiners use this. Most exchanges will block your transaction if you coinjoined it.

Cheap Transaction (Point 3) - "We will get it" Same question when? Bitcoiners spent ungodly amount of time on lightning and rejecting all other alternatives. If a company has 10+ years to develop something but still couldn't most would abandone it. As people have their money in this so most will stick.

Centralised - Yes other chains are centralized but as I said they have found real good market fit. Decentralisation alone isn't a selling point.

Internet - Most who say bitcoin and internet are same wasn't even born during that era. Internet's limitation was hardware not software. There weren't any routers, fiber etc. for internet businesses to distribute their product quickly. Bitcoin is built on top of this infra.

Didn't study enough - I often hear this including HFSP. Basically if you argue that some stuffs of bitcoin is broken, you either is a troller, hater, didn't study bitcoin or want to stay poor. There apparently isnt 1 guy who understands tech and distribution who can point out issues in bitcoin.

Bitcoin isn't a test, its product that is yet to find a product market fit. Yes it's decentralised.
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heinz57 · 125w
Have fun staying poor
Saberhagen The Nameless · 125w
Not sure what you mean about "no way to have privacy in transactions". Monero already does that along with several other smaller privacy coins and even ecash. Agree with basically everything you said...
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I do agree with that. I was saying about Bitcoin.

Monero does have achieved privacy brilliantly and with seraphis I think it's going to improve more.

Once someone figures out the transaction speed part, it's going to unlock real value.
BHAVIK · 125w
Yes it is expensive to transact, there will be layers around bitcoin for everyday payment. Don’t worry about it. Internet was not scaled for billions of users on the first day. It took 40 years for ...
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The problem I believe with most bitcoiner or any crypto person is they talk about fundamentals more than technicals. Also they feel as the fundamentals is strong so it's a good product market fit.

Another argument can be made here that nearly a decade has gone and there is still no way to have privacy in transactions or even do transactions at all as it's slow. Lightning is garbage, most knows who ran a lightning node themselves.

Bitcoin, Monero, ETH guys fail to understand that whatever they are building may be really fundamentally sound but most use it to get fiat rich.

Meanwhile cross border payments, small donations, peer to peer payments for services/products are being done with USDT on Tron. Unfortunate reality.
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BHAVIK · 125w
Entire economy is going to built around bitcoin, for that we need strong foundation, bitcoin offers that. Privacy can be achieved using coinJoin and other layer solutions being built around bitcoin, like eCash. We needed bitcoin long ago for the Chaumin-eCash to work. We will also get cheap trans...
Saberhagen The Nameless · 125w
Not sure what you mean about "no way to have privacy in transactions". Monero already does that along with several other smaller privacy coins and even ecash. Agree with basically everything you said. Everyone is crypto is just gambling and trying to get fiat rich for the most part. Even most Bitco...
DannyGladiolas · 125w
Fees on Tron are kind of pricey but good enough, many products support it.