kb2001 said:
Wow, don't take it so personally. We largely agree about things. This is my opinion of Bitcoin, and despite these advancements you discussed, many of them are in fact not yet fully implemented (like Taproot and Lightning). I don't shi* on Bitcoin in any way shape or form. So, I stand by statement that in its current state, it is not a good choice for day to day transactions. Of course, anyone who is realistic about long term wealth gains from crypto should be holding primarily bitcoin, as I do, but to disregard other blockchains is just foolish. Keep in mind that Taproot and Lightning came about because of technology advancements made on other blockchains. I'm not trying to push focus away from Bitcoin, I'm just providing some information on just how massive the blockchain technology advancements are beyond simple financial transactions.
acshually, all of these technologies were first formulated within bitcoin, segwit/lightning/smartcontracts/nfts/etc were all formed within the btc community first and experimented with, then brought into the ecosystem after varied and variegated testing. Whether for brevity of point or ignorance, it is immensely relevant that 99% of the projects out there originated from bitcoin concepts/devs.
Regarding your comments on my "ETA", you missed the point. Some are actually trying to develop a platform, some are straight up scams looking to becoming a meme. Don't bundle them all in the same thread, you're better than that. DOGE =/= Ethereum no matter how much you want it to be.
how would anyone know the difference ESPECIALLY NEWBIES? THat's why I insist even demand Bitcoin's full intent and the VALUE of proof of work before staining it with subjective claims from alt-coins' marketing decks.
I don't s**t on bitcoin at all, I'm just realistic and objective about it, and try to keep any personal biases out of my analysis. I agree that its an excellent technology, and isn't going anywhere, but I also acknowledge its shortcomings when compared to features that others are developing. Bitcoin is doing a pretty good job of absorbing some of the advancements into itself. I maintain that as long as it's treated as a store of value, it will not be a good choice for day to day transactions. Buy a car with Bitcoin? Sure. Pay your bills with it? Sure. Buy groceries with it? Not right now. The advancements needed are in progress and are not yet active for Bitcoin. Lightning especially will help with this, but it isn't available yet. Interestingly, it is a prime example of technology advancements made with other blockchains getting folded into Bitcoin (well, on top of Bitcoin's blockchain technically, effectively the same thing in this case).
I'll disregard the XRP hate. A lot of people hate XRP, and Jed McCaleb is the reason why, with very good reason. I'm in full agreement with McCaleb being a person to avoid. I stay far away from anything he's involved in, but he hasn't been involved with XRP for several years. I'm simply pointing out XRP and SWIFT as an example of another system that crypto is in a position to make massive improvements to. Is it perfect? Of course not. Is it good that we can start phasing out bulky, antiquated, expensive, tightly controlled systems in favor of new technologies? Absolutely. I'll also point out that your lack of knowledge on XRP's SEC lawsuit is something you should address if you want to hold such strong opinions on it.
I agree that newbie's should stay away from alt-coins not named Ethereum until they get more knowledgeable. There are so many, and it's very difficult to tell which ones have value long term and which ones will not be around next cycle.
You're trying to paint me as something I'm not, because I don't drop to me knees for Bitcoin's every move. There are 3 main things happening with blockchains and crypto.
1. New financial vehicles and ways of transacting
2. New means of fulfilling trustless transactions and execution of contracts
3. New ways of building web-based platforms that are more decentralized, moving to fully decentralized
Bitcoin is tackling number 1. There are other projects that are taking on 2 and 3, don't ignore them because you're focused only on the financial aspects. All blockchains can benefit from advancements made on other blockchains, Taproot and Lightning are examples of Bitcoin taking steps to improve itself based on advancements from other blockchains. The fact that you refer to alt-coins as sh*t-coins tells me you don't view the technologies objectively, you don't see what they can offer and are only focused on the negatives. There is so much more happening, don't miss the forest for the trees.
We're largely in agreement on these things. One of the more toxic things to arise in blockchain circles is the tribal effect that seems to spring up. A lot of people take sides when discussing various crypto assets, "Asset B must be garbage because it isn't Asset A, and anyone who holds Asset B must hate Asset A."
My intent was never to mislabeled you, but to make others aware that much of your post was extremely subjective.
There's a crap ton of value and time to be extracted from people and your attention is exceptionally valuable (currently and even exponentially more so in the future).
Regarding day/day transactions, start pricing things in satoshis now. We won't use bitcoin for day to day but fractions of bitcoin, called satoshis. We already use fractions of satoshis in lightning network transactions instantly and seamlessly without bogging down the main chain with stupid gifs or badly developed smart contracts.
I like you know, you're not wrong, but without valuable perspective gained through self-education you could be leading individuals to a path of decadent gambling supplemented with excessive marketing and authority bias instead of experience knowledge leading the exposure