Ninjastic
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Re: Bitcoin XT - Officially #REKT (also goes for BIP101 fraud)
by
brg444
on 19/09/2015, 16:15:20 UTC
Quote from: VeritasSapere on September 19, 2015, 04:10:37 PM
Quote from: brg444 on September 19, 2015, 04:04:59 PM
Quote from: VeritasSapere on September 19, 2015, 03:58:15 PM
Quote from: brg444 on September 19, 2015, 03:47:44 PM
Quote from: OmegaStarScream on September 19, 2015, 03:30:38 PM
That's nice and all , however I suppose that BitcoinXT was the only project planning to increase the Blocksize of bitcoin (altcoin) .. now without what are we supposed to do with bigger blocks ? are Bitcoin Core developpers planning to do anything , if not there is no reason to continue using Bitcoin I suppose .. no mainstream = no future .  Huh
Where did you get the idea that Bitcoin needed to be adopted by mainstream to be successful in the first place?
Increased adoption would help Bitcoins survival into the future, the history of file sharing can be considered as a precedent for this. I would also like to see more people benefit from the Bitcoin blockchain directly, because I think this would do much good in the world.


Bitcoin is a money protocol. The internet of VALUE. It is not Facebook and therefore the number of users is not representative of its adoption.

Increased adoption by capital is what we should be concerned about. It is not correlated with the number of users.

In that regard I shall remind you of iCEBREAKER's mention of Pareto's law of distribution. In the context of Bitcoin it means that if 20% of the world's population controlling 80% of the wealth is to adopt Bitcoin then it would bring about more success & change than if the other 80% adopted it. (The actual wealth disparity is by all account much worse)
I disagree, since it depends on how you define success. If you are measuring success based on price then you are correct in this scenario. However if we measure success in how it effects peoples lives and how many life’s it has saved and positively changed by using the Bitcoin blockchain then having the poorer 80% adopt it first would be better. If the poorer 80% adopts it before the richer 20% then this would also bring about a redistribution of wealth, which would bring about the positive effect of decreasing global inequality.

Yes, I know you'd love for Bitcoin to be a tool of wealth redistribution, but that is not how it works and it was never meant to be so. Stop conflating your delusions with reality.

If Bitcoin is adopted by the world's economic majority then by definition it has become the standard for money. This necessarily translates into its adoption by the remaining 80% which, as any herd does, will follow. As such, having our financial system operate on the sound economic theory of Bitcoin will benefit EVERYONE, even if the 80% retain little control over it.

I'm sorry but you have terrible understanding of economics and how this world operates. You might think your opinion holds value but seeing as most of it is pure delusion and ignorance you don't get to pull the "agree to disagree" argument. How you'd like the world to work is not representative of how it actually does work.