Ninjastic
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Re: Bitcoin XT - Officially #REKT (also goes for BIP101 fraud)
by
brg444
on 09/10/2015, 16:52:57 UTC
Quote from: knight22 on October 09, 2015, 04:37:21 PM
Quote from: Holliday on October 09, 2015, 04:13:08 PM
Quote from: knight22 on October 09, 2015, 03:51:34 PM
The value of bitcoin is a decentralized P2P cash system. YOU not being able to run a node is irrelevant.

A Bitcoin enthusiast with dedicated hardware and top tier home internet can't run a full node today without taking measures to cut down on the bandwidth. Increasing the amount of data that must be shared is obviously going to make it even more difficult to possibly downright impossible. I would say that is a huge step away from decentralization.

...And this is under the best possible conditions. What happens if/when some authority decides its time to try and prevent the flow of Bitcoin data (at an ISP level).

So, I'm a bit confused when you say that the value of Bitcoin is as a decentralized, P2P cash system, but it's OK if we move away from decentralization and have fewer peers. Wut?

Having fewer peers =! being centralized.

What's the point of keeping bitcoin crippled for a niche market? There are plenty of altcoins for this exact purpose. Bitcoin's destiny is world domination, for anything else there is an altcoin and everyone is happy.

You just don't get it... Peter Todd, I believe, is used to say "the only node that matters is the one you run" and this is suitably demonstrative of the importance of validating your own transactions.

Your childish niche market comment shows you have a terrible conception of what makes the economy and how it is actually distributed.

Bitcoin could grow to a trillion market cap tomorrow and it wouldn't break. You have no idea the amount of money that is sleeping everywhere in the world afraid to get noticed by the same authorities you like to suck up to. These numbers looking for a safe haven of value to store their worth at would put to shame any of your consumer braindead ideas of "mass adoption" and "merchant acceptance".