@Durky-Durbin
Plugged into the source
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Recent Notes
what would the world look like if #bitcoin failed?
Reminds me of the Orwell Quote: “If you want a picture of the future, imagine a boot stamping on a human face - forever”. I have hope.
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Okay. I'll see about checking it out.
I just read “Hijacking Bitcoin" which features the other side to the block size wars. Ultimately, it seems that power lies with the miners. If there are not enough transaction fees to generate revenue, they will go to other blockchains. Transaction fees being too high, make people not want to spend (not to mention HODL mentality). Small block BTC has another cycle or two in it before these effects are relevant to price. But it’s hard to argue against the fundamental economic principle of a store of value emerging out of a medium of exchange, not the other way around.
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Just like cash (paper money), bitcoin can be used privately & without surveilance. But, if you transact with bitcoin purchased, or earned, in your name in a third party record, that privacy goes away....
How does the average person obtain non-KYC bitcoin?
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Bitcoin is the white pill.
Everything else is the black pill
BTC is hope. I just hope it’s not misplaced hope. The book “hijacking bitcoin” makes the case for developer capture/corruption. I want to believe BTC can become the new currency denominator but only will achieve the long term store of value if it is also a medium of exchange. The “never spend your BTC” ethos, high fees and small tps via block size cap constrain BTC from achieving a medium of exchange status.
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