Re: Estranged Core Developer Gavin Andresen Finally Makes Sensible 2MB BIP Proposal!
Okay. I guess Gavin is an idiot, the Chinese miners are all idiots, Brian Armstrong's an idiot, and anyone that doesn't agree with Blockstream is an idiot! lol
Yes, that's true. Gavin is an idiot, and so is Brian Strongarm, along with any miner (of any nationality) who supports their idiotic contentious hard fork.
---Exhibit A---
I plan on using Bitcoins as a convenient, very-low-cost means of exchange.
I don't plan on saving a significant number of Bitcoins as a store of value.
I don't plan on saving a significant number of Bitcoins as a store of value.
---Exhibit B---
Nobody has done a better or more heart-felt and sincere job than @Bitfury of debunking the 'magical Visa with free tx 4eva, not a store-of-value' nonsense:
Quote
https://medium.com/@BitFuryGroup/keep-calm-and-bitcoin-on-4f29d581276
I grew up in Soviet Latvia and witnessed firsthand the elimination of my parents life savings. All of their dreams were gone when the Soviet Union and the banking systems collapsed in 1991. Then, like a nightmare, my own investment dreams were shattered in the global financial crisis of 2008. I knew as a child, and I know even more now as an adult that we, as a global technology community, can and must do better.
FACT 1: Bitcoin Is Not an Electronic Payments System Like PayPal
Many Bitcoin newcomers view the network as yet another electronic system for instant payments, like PayPal or Visa. Right here we have a very substantial difference in opinion. Bitcoin was never designed to confirm instant payments and believing that is its function is a mistake.
As Nick Szabo, the renowned author of smart contracts wrote:
Visa and PayPal already exist, and within national borders they do what they do quite well. Its silly to try to turn Bitcoin into yet another Visa and PayPal.
Bitcoin is not an instant payment network and not a fancy replacement for PayPal or Visa. It is first and foremost a decentralized system, which sacrifices speed in favor of security. A key feature provided by decentralization is permissionless entry for users and developers and it is thanks to this component that Bitcoin has grown into much more than a currency and has become a platform for Blockchain innovations.
Most importantly, Bitcoin is a new world created for anyone especially for someone like me who didnt grow up in a world where trusted emissary was a reality and the idea of asset security was something other people in other parts of the world enjoyed.
I grew up in Soviet Latvia and witnessed firsthand the elimination of my parents life savings. All of their dreams were gone when the Soviet Union and the banking systems collapsed in 1991. Then, like a nightmare, my own investment dreams were shattered in the global financial crisis of 2008. I knew as a child, and I know even more now as an adult that we, as a global technology community, can and must do better.
FACT 1: Bitcoin Is Not an Electronic Payments System Like PayPal
Many Bitcoin newcomers view the network as yet another electronic system for instant payments, like PayPal or Visa. Right here we have a very substantial difference in opinion. Bitcoin was never designed to confirm instant payments and believing that is its function is a mistake.
As Nick Szabo, the renowned author of smart contracts wrote:
Visa and PayPal already exist, and within national borders they do what they do quite well. Its silly to try to turn Bitcoin into yet another Visa and PayPal.
Bitcoin is not an instant payment network and not a fancy replacement for PayPal or Visa. It is first and foremost a decentralized system, which sacrifices speed in favor of security. A key feature provided by decentralization is permissionless entry for users and developers and it is thanks to this component that Bitcoin has grown into much more than a currency and has become a platform for Blockchain innovations.
Most importantly, Bitcoin is a new world created for anyone especially for someone like me who didnt grow up in a world where trusted emissary was a reality and the idea of asset security was something other people in other parts of the world enjoyed.