Post
Topic
Board Bitcoin Discussion
Re: Nick Szabo's Remarks about Bitcoin XT
by
glub0x
on 16/09/2015, 06:18:58 UTC
There is reason why the Genesis Block mentions a second round of bank bailouts instead of, oh say, debit/credit surcharges for small purchases at Starbucks.

Satoshi created Bitcoin to stop command economy BS like bank bailouts, not because he was charged fifty cents extra for using his AMEX to buy a latte.

Uppercase-B Bitcoin (or lowercase in Szabo notation) the first viable and most secure ecash competes with gold and central banks.

Lowercase-b bitcoin (or uppercase in Szabo notation) the blockchain technology competes with Visa/Paypal/Square (via altcoins).

Bitcoin is global revolution against authoritarianism, not the next fucking Dwolla.
well that's what you say ... It is clear to me that he thinks his techno solves several problems at the same time.
There is a reason why he used  the abstract & introduction of his whitepaper NOT to speak about bailouts but small transactions. You might say he was wrong or the bailouts problem is more important ( which i agree ) but you won't change the fact that Satoshi's vision is also about a global payment system for casual transaction.

I think the monetary policy is a much more political problem whereas the small transaction is consensual, everybody wants to pay less fees. It is a much better introduction to keep everybody on board for the next 15 pages of his white paper.