You should understand the difference between Bitcoin supporters and Latter Day Bitcoin Supporters

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Avatar for Pablo_Picasho
3 years ago

You should understand the difference between Bitcoin supporters and Latter Day Bitcoin Supporters.

Bitcoin supporters:

  • Bitcoin can work as a p2p cash system

  • Bitcoin can scale!

  • Bitcoin supply should remain capped to ~21M

  • Bitcoin needs high transaction volume to succeed

  • Bitcoin needs low fees to remain competitive

  • Bitcoin can be energy efficient if it processes lots of transactions

  • 0-conf is fine for certain payment cases (depends on amount, physical good or not, etc)

  • Infrastructure costs will be low enough over time to enable Bitcoin to scale up on chain as demand increases

  • Blind auction artificial fee market would severely harm or destroy retail adoption

  • Not needing third parties (intermediaries) is a key strength of Bitcoin

Latter Day Bitcoin Supporters:

  • Bitcoin could not work as designed

  • Bitcoin does not scale

  • Bitcoin is a terrible payment system

  • Retail payments is not an interesting use case

  • Bitcoin is supposed to be store of value

  • Bitcoin needs Lightning Network to work

  • Bitcoin is digital gold first and foremost

  • Bitcoin is more decentralized than any other crypto

  • Bitcoin can succeed if people only HODL

  • Bitcoin is not for poor people

  • Bitcoin development is not centralized

  • It's not bad that Bitcoin uses so much energy for very few transactions

  • 0-conf is always insecure

  • Bigger blocks would terminally centralize Bitcoin

  • Lightning Network can scale Bitcoin adoption without big blocks

  • Just use custodial services and don't worry

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Avatar for Pablo_Picasho
3 years ago

Comments

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$ 0.00
3 years ago

The truth is that for an ordinary person like me, aspiring to have 1 Bitcoin is a fantasy. The interesting thing is that if I can pinch others like the Bitcoincash and that I love it.

$ 0.00
3 years ago

Thank you @Ellie for the tip.

$ 0.00
3 years ago

Verry nice explaination..now i know little about this.keep up the good workπŸ‘πŸ‘πŸ‘

$ 0.00
3 years ago

Thanks a lot dear for guiding every person.you tell the great things tgat i have never informed before. Thus articles gives me a great knowledge regarding to crptocurrency and bitcoin cash and also information to read and noise cash.

$ 0.00
3 years ago

You're just explaining the same group of people though.

And post-2017, Blockstream really decided to cripple Bitcoin's scaling.

Those that were kicked out, the big blockers, created Bitcoin Cash.

$ 0.00
3 years ago

Good article.

$ 0.00
3 years ago

Now i understand very well,thanks very useful,keep it up congratulations

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3 years ago